2018-11-13T16:09:26-06:00 2017-12-31 410746749 CLIFTONLARSONALLEN LLP 600 WASHINGTON AVENUE SUITE 1800 ST LOUIS MO 63101 990 2017-01-01 621827185 THE VILLAGE AT GERMANTOWN INC VILL 9017522524 7820 WALKING HORSE CIRCLE GERMANTOWN TN 38138 REBECCA CULLISON CEO/EXECUTIVE DIRECTOR 9107522524 2018-11-13 1 JEFF PARKER P00970069 3149254300 67.137.57.251 2018-11-13 10:55:59 CS P 4DC81AC5090E51A43603AD047BBA54151ACF830E AB59F5C6B83F609E1D6F53B867FD21F5A01CCFB7 2017 2019-02-21 02:37:17Z REBECCA CULLISON 7820 WALKING HORSE CIRCLE GERMANTOWN TN 38138 24102061 0 X WWW.VILLAGE-GERMANTOWN.COM X 2000 TN TO OPERATE AS A CONTINUING CARE RETIREMENT COMMUNITY 6 6 605 100 0 0 2550 19732 17992178 21823633 265527 472773 592957 742531 18853212 23058669 0 0 0 0 8813066 10008135 0 0 0 13235034 14996374 22048100 25004509 -3194888 -1945840 97596556 104882370 139448361 148387614 -41851805 -43505244 X TO PROVIDE A QUALITY, STIMULATING, AND SAFE COMMUNITY THAT PROMOTES INDEPENDENCE AND WELLNESS THROUGH INNOVATIVE PROGRAMS, SUPPORTIVE SERVICES, AND AN EXCEPTIONAL STAFF. WE RESPECT AND VALUE THE DIGNITY OF EACH PERSON THROUGH OUR AFFILIATION WITH METHODIST HEALTHCARE. WE SERVE THE COMMUNITY AS A RESOURCE FOR SENIOR WELLNESS PROGRAMS AND INFORMATION. 0 0 22007592 21823633 THE VILLAGE AT GERMANTOWN, INC. (THE COMPANY) WAS FORMED ON JULY 25, 2000 AS A NOT-FOR-PROFIT CORPORATION UNDER THE LAWS AND REGULATIONS OF THE STATE OF TENNESSEE. THE COMPANY'S PURPOSE IS TO ACQUIRE REAL PROPERTY AND TO DEVELOP, MARKET AND OPERATE THE PROPERTY AS A CONTINUING CARE RETIREMENT COMMUNITY IN SHELBY COUNTY, TENNESSEE, KNOWN AS THE VILLAGE AT GERMANTOWN, INC. (THE PROJECT). THE CCRC CONSISTS OF 230 INDEPENDENT LIVING UNITS (INCLUDING 202 APARTMENTS AND 28 PATIO HOMES)(INCREASED IN APRIL FROM 198 UNITS IN 2016), AND A HEALTHCARE CENTER CONSISTING OF 32 ASSISTED LIVING UNITS, 16 SPECIAL CARE DEMENTIA UNITS, AND 50 SKILLED NURSING BEDS. PERMANENT FINANCING OF THE PROJECT OCCURRED IN DECEMBER OF 2003 WITH CONSTRUCTION BEGINNING THAT SAME MONTH. THE PROJECT WAS SUBSTANTIALLY AVAILABLE FOR OCCUPANCY BEGINNING ON OCTOBER 2005. IN FISCAL 2017, THE VILLAGE BILLED 29,843 HEALTHCARE DAYS- 4,574 FOR DEMENTIA, 11,026 FOR ASSISTED LIVING, AND 8,242 FOR SKILLED. OF THESE DAYS, 8,242 WERE MEDICARE DAYS AND 21,601 PRIVATE PAY DAYS/INSURANCE BILLABLE DAYS. OUR INDEPENDENT LIVING OCCUPANCY WAS 203 OF 230. 22007592 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 62 0 605 1 0 0 0 0 0 0 0 0 0 0 X 6 6 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 TN X X MIKE CRAFT 9017522508 7820 WALKING HORSE CIRCLE GERMANTOWN TN 38138 WILLIAM KENLEY CHAIRMAN 1.00 X X 0 0 0 DR JAMES HARKESS SECRETARY 1.00 X X 0 0 0 MARK HALPERIN DIRECTOR 1.00 X 0 0 0 CHRIS MCLEAN DIRECTOR 1.00 X 0 0 0 JEAN MORTON DIRECTOR 1.00 X 0 0 0 RITA SPARKS DIRECTOR 1.00 X 0 0 0 REBECCA CULLISON CEO/EXECUTIVE DIRECTOR 40.00 X 0 0 0 DONALD SELHEIMER CFO 40.00 X 220414 0 14674 PAM LEET DIRECTOR OF MARKETING 40.00 X 164452 0 10795 MELISSA RUKSTAD DIRECTOR OF WELLNESS 40.00 X 115570 0 9532 JESSE CRITTENDON DIRECTOR OF DINING SERVICE 40.00 X 121872 0 4608 MEGAN COLLINS SALES REPRESENTATIVE 40.00 X 119450 0 7475 741758 0 47084 5 0 1 0 PATTON & TAYLOR ENTERPRISES LLC PO BOX 38409 GERMANTOWN TN 38138 CONSTRUCTION OF APARTMENT BUILDING 7177645 REHABCARE GROUP INC PO BOX 503534 ST LOUIS MO 63150 CONTRACT THERAPY 1038223 FLINTCO LLC 2179 HILLSHIRE CIRCLE MEMPHIS TN 38133 CONSTRUCTION OF HEALTHCARE RENOVATION 414547 ANF ARCHITECTS INC 1500 UNION AVE MEMPHIS TN 38104 ARCHITECTURAL SERVICES 146035 4 19732 19732 PROGRAM SERVICE REVENUE 623000 21823633 21823633 21823633 365036 365036 36439 36439 1114690 1043392 71298 71298 71298 MEAL INCOME 623000 263395 263395 ENG AND MAINT 623000 224433 224433 BEAUTY SHOP 623000 197395 197395 57308 57308 742531 23058669 21823633 0 1215304 X 514231 514231 8049667 7346518 703149 194061 166475 27586 610347 523585 86762 639829 548876 90953 294894 294894 113984 113984 2759151 2352781 406370 195751 170658 25093 781475 645126 136349 179687 179687 1736947 1669767 67180 52670 37299 15371 6644 4325 2319 3571453 3433319 138134 3805820 3658621 147199 237779 228582 9197 DIETARY 957896 957896 MEDICAL SUPPLIES / BED 186652 186652 RESIDENT SERVICES 77112 77112 BAD DEBT EXPENSE 34482 34482 3977 3977 25004509 22007592 2996917 0 9286173 11616536 2166413 1355777 1290892 1164234 36531 39223 185670 230778 107815959 32348561 70807655 75467398 13575013 14696308 248209 312116 97596556 104882370 5344783 8015008 4054233 4937350 60085439 60207853 5942173 1314489 64021733 73912914 139448361 148387614 X -41851805 -43505244 -41851805 -43505244 97596556 104882370 -1945840 292401 0 X X 0 1 X 1 0 X 277167 2550 19732 299449 14441638 15284996 15667249 17994728 21823633 85212244 14718805 15284996 15667249 17997278 21843365 85511693 0 0 0 85511693 43542 437888 418872 265527 401475 1567304 43542 437888 418872 265527 401475 1567304 460797 454139 502858 592957 742531 2753282 15223144 16177023 16588979 18855762 22987371 89832279 0.95190 0.96130 0.01740 0.01420 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: MISC - 2013 AMOUNT: $ 36,945. 2014 AMOUNT: $ 64,119. 2015 AMOUNT: $ 60,818. 2016 AMOUNT: $ 25,715. 2017 AMOUNT: $ 34,340. MEAL INCOME - 2013 AMOUNT: $ 233,501. 2014 AMOUNT: $ 244,755. 2015 AMOUNT: $ 273,403. 2016 AMOUNT: $ 298,430. 2017 AMOUNT: $ 263,395. BEAUTY SHOP - 2013 AMOUNT: $ 48,179. 2014 AMOUNT: $ 45,582. 2015 AMOUNT: $ 49,394. 2016 AMOUNT: $ 48,663. 2017 AMOUNT: $ 197,395. ENG AND MAINT - 2013 AMOUNT: $ 142,172. 2014 AMOUNT: $ 79,558. 2015 AMOUNT: $ 93,693. 2016 AMOUNT: $ 195,394. 2017 AMOUNT: $ 224,433. GUEST ACCOMMODATIONS - 2014 AMOUNT: $ 20,125. 2015 AMOUNT: $ 25,550. 2016 AMOUNT: $ 24,755. 2017 AMOUNT: $ 22,968. 5349049 5349049 94105862 30456241 63649621 319804 103501 216303 5527220 1788819 3738401 2514024 2514024 75467398 ENTRANCE FEE DEPOSITS 284006 WAIT LIST DEPOSITS PAYABLE 134275 REFUNDABLE ENTRANCE FEE 73494633 73912914 X 23351070 292401 292401 23058669 0 23058669 25004509 0 25004509 0 25004509 PART X, LINE 2: THE ORGANIZATION APPLIES THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ORGANIZATION'S FINANCIAL STATEMENTS IN ACCORDANCE WITH THE INCOME TAX STANDARD. THIS STANDARD PRESCRIBES RECOGNITION AND MEASUREMENT OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. THE ORGANIZATION'S INCOME TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL, STATE, AND LOCAL AUTHORITIES. THE ORGANIZATION IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE ITS TAX-EXEMPT STATUS AND IT IS NOT AWARE OF ANY ACTIVITIES THAT ARE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME OR EXCISE OR OTHER TAX EXCEPT FOR THOSE THAT ARE ALREADY REPORTED ANNUALLY. X X 0 0 0 0 0 0 0 1 0 DONALD SELHEIMER CFO 185424 0 34990 0 0 0 8817 0 5857 0 235088 0 0 0 PAM LEET DIRECTOR OF MARKETING 79952 0 0 0 84500 0 6578 0 4217 0 175247 0 0 0 PART I, LINE 7 THE ORGANIZATION PAYS PERFORMANCE BONUSES. A HEALTH EDUCATION & HOUSING FACILITIES BOARD OF THE COUNTY OF SHELBY TN 521283414 82169JAK9 2012-12-05 39401079 REFUNDING PRIOR ISSUANCES DATED 12/18/03 & 7/27/06 AND FUND CAPITAL PROJECTS 0 0 0 B HEALTH EDUCATION & HOUSING FACILITIES BOARD OF THE COUNTY OF SHELBY TN 521283414 82169JAP8 2014-10-01 22059660 FINANCE THE ACQUISITION, CONSTRUCTION, AND EQUIPPING OF THE EXPANSION 0 0 0 A 1455000 39401079 2620088 788007 35998984 2014 0 1 1 1 B 230000 22059660 1359264 441193 19263049 996154 2017 0 0 0 1 A 0 1 1 1 0 0.00210 0.00000 0.00210 0 0 1 B 0 1 1 1 0 0.00210 0.00000 0.00210 0 0 1 A 0 1 0 0 0 0 0 1 B 0 1 0 0 0 0 1 BAYERISCHE LANDESBANK 8.000000000000 1 1 A 1 B 1 FORM 990, PART VI, SECTION A, LINE 3 IN DECEMBER 2016, THE ORGANIZATION ENTERED INTO AN AGREEMENT WITH METHODIST LE BONHEUR HEALTHCARE TO PROVIDE MANAGEMENT SERVICES FOR CERTAIN ASPECTS OF NORMAL OPERATIONS AND MANAGEMENT RESPONSIBILITIES. THE ORGANIZATION INCURRED EXPENSE OF APPROXIMATELY $295,000 AND $30,000 UNDER THE TERMS OF THIS AGREEMENT FOR THE YEARS ENDED DECEMBER 31, 2017 AND DECEMBER 31, 2016, RESPECTIVELY. THE ORGANIZATION WILL ALSO REIMBURSE METHODIST LE BONHEUR HEALTHCARE FOR THE SALARIES AND BENEFITS OF THE EXECUTIVE DIRECTOR AND OTHER VARIOUS SERVICES, INCLUDING TRAVEL, MARKETING, AND MISCELLANEOUS REIMBURSABLE EXPENSES DURING THE CALENDAR YEAR, THE FOLLOWING INDIVIDUAL WAS COMPENSATED FOR PROVIDING SERVICES TO THE ORGANIZATION IN THE FOLLOWING AMOUNTS: REBECCA CULLISON, EXECUTIVE DIRECTOR: $260,706 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR OF THE ORGANIZATION PRIOR TO FILING WITH THE IRS. EACH BOARD MEMBER RECEIVES A COPY OF THE FORM 990 FOR THEIR REVIEW. THE FORM 990 IS REVIEWED BY THE BOARD AT A BOARD MEETING PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C EMPLOYEES ARE REQUIRED TO SIGN THE CONFLICT OF INTEREST POLICY ANNUALLY. FURTHERMORE, THE POLICY IS EXPLAINED DURING EACH NEW HIRE ORIENTATION AND THE ORGANIZATION MAINTAINS AN OPEN DOOR POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE INDEPENDENT BOARD OF DIRECTORS CONDUCTS AN ANNUAL REVIEW OF THE CEO AND DETERMINES COMPENSATION WITH THE USE OF COMPARABILITY DATA (CCRC SALARY AND BENEFITS REPORT) THE EXECUTIVE DIRECTOR DETERMINES COMPENSATION FOR DEPARTMENT DIRECTORS WITH INPUT FROM THE HR DIRECTOR ALONG WITH THE CCRC SALARY AND BENEFITS REPORT. THE EXECUTIVE DIRECTOR DETERMINES THE COMPENSATION FOR THE KEY EMPLOYEES, INCLUDING THE CFO. THIS PROCESS IS DOCUMENTED DURING THE ANNUAL REVIEW PROCESS USING COMPARABILITY DATA (CCRC SALARY AND BENEFITS REPORT) FOR ORGANIZATIONS WITH COMPARABLE REVENUE. ANNUAL COMPENSATION INCREASES ARE DETERMINED IN THE BUDGETING PROCESS AND APPROVED BY THE INDEPENDENT BOARD OF DIRECTORS. AS PART OF THE MANAGEMENT CONTRACT WITH METHODIST HEALTHCARE, SALARY AND BENEFITS ARE A DIRECT PASS-THROUGH TO THE VILLAGE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE UPON REQUEST. THE ORGANIZATION MAKES ITS AUDITED FINANCIAL STATEMENTS AVAILABLE ON THE INTERNET AT HTTP://EMMA.MSRB.ORG/. FORM 990, PART IX, LINE 11G SERVICE CONTRACTS: PROGRAM SERVICE EXPENSES 218,494. MANAGEMENT AND GENERAL EXPENSES 251,523. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 470,017. AGENCY SERVICES: PROGRAM SERVICE EXPENSES 323,083. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 323,083. MEDICAL DIRECTOR: PROGRAM SERVICE EXPENSES 68,250. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 68,250. OUTSIDE SERVICES: PROGRAM SERVICE EXPENSES 230,277. MANAGEMENT AND GENERAL EXPENSES 139,359. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 369,636. ANCILLIARY SERVICES: PROGRAM SERVICE EXPENSES 1,466,398. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,466,398. CONSULTING: PROGRAM SERVICE EXPENSES 46,279. MANAGEMENT AND GENERAL EXPENSES 15,488. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 61,767. FORM 990, PAGE 12, PART XII, LINE 2C THE ORGANIZATION'S POLICY REGARDING THE OVERSIGHT OF THE AUDIT IS CONSISTENT WITH THE PRIOR YEAR. FORM 990, PAGE 7, PART VII AND PAGE 10, PART IX LINE 5 THE EXECUTIVE DIRECTOR'S COMPENSATION IS PAID BY THE MANAGEMENT COMPANY AND REIMBURSED BY THE ORGANIZATION. THE MANAGEMENT COMPANY ISSUES THE W-2. AS A RESULT, COMPENSATION IS LISTED ON PAGE 10 LINE 5, BUT NOT INCLUDED ON PAGE 7.