2018-05-15T11:03:20-05:00 2017-06-30 350921680 CROWE HORWATH LLP 225 West Wacker Drive Suite 2600 Chicago IL 606061224 990 2016-07-01 352084623 Holy Cross Village at Notre Dame Inc HOLY 5742862373 54515 State Road 933 N PO Box 303 Notre Dame IN 465560303 Bill Quig CFO 2018-05-02 true Jennifer Burke P01342224 3128997000 2016 2022-09-23 18:48:47Z Bill Quig 54515 State Road 933 N PO Box 303 Notre Dame IN 465560303 13235603 false 0928 X www.HolyCrossVillage.com X 1999 IN Holy Cross Village at Notre Dame is an interdependent community energized by Holy Cross spirituality and hospitality, and dedicated to providing a nurturing environment focused on dignity and respect. 11 10 195 107 197637 -10547 800299 246495 12817191 12327965 227732 240276 534443 420867 14379665 13235603 0 0 5163399 5669356 0 12100 10763268 9872407 15926667 15541763 -1547002 -2306160 49403936 41912412 65023293 59172860 -15619357 -17260448 Holy Cross Village at Notre Dame is an interdependent community energized by Holy Cross spirituality and hospitality, and dedicated to providing a nurturing environment focused on dignity and respect. Holy Cross Village at Notre Dame was established as a faith-based, non-profit organization and has since dedicated itself to providing housing, healthcare, and support services exclusively to older adults in ways that promote independence and a healthy, active lifestyle through a continuing care retirement community. false false 7892817 7809997 INDEPENDENT AND ASSISTED LIVING: HOLY CROSS VILLAGE AT NOTRE DAME (HOLY CROSS VILLAGE) PROVIDES A COMPREHENSIVE SELECTION OF RESIDENTIAL LIVING OPTIONS SUPPORTED BY A FULL CONTINUUM OF ON-SITE HEALTH CARE. INDEPENDENT LIVING RESIDENTS ENJOY AN ACTIVE LIFESTYLE, COMPLEMENTED BY SUPERIOR SERVICES AND AMENITIES. PLUS, THEY HAVE THE ASSURANCE OF ON-SITE QUALITY HEALTH CARE, IF EVER NEEDED, AT AN AFFORDABLE, PREDICTABLE COST. HOLY CROSS VILLAGE IS AN INTERDEPENDENT COMMUNITY ENERGIZED BY HOLY CROSS SPIRITUALITY AND HOSPITALITY, AND DEDICATED TO PROVIDING A NURTURING ENVIRONMENT FOCUSED ON DIGNITY AND RESPECT. HOLY CROSS VILLAGE GOES BEYOND WHAT'S EXPECTED TO OFFER A LIFESTYLE THAT ALLOWS RESIDENTS TO LIVE AS INDEPENDENTLY AS POSSIBLE, WHILE STAYING CLOSE TO FAMILY, FRIENDS, AND THE BEST CARE AVAILABLE. RESIDENTS HAVE PEACE OF MIND KNOWING THEIR FUTURES ARE SECURE, WHICH IS SOMETHING THEY WILL VALUE AS MUCH TODAY AS THEY WILL TOMORROW. HOLY CROSS VILLAGE IS ALSO A LICENSED ASSISTED LIVING COMMUNITY, AND OUR ASSISTED LIVING APARTMENTS ALLOW FOR PRIVACY AND INDEPENDENCE. IF RESIDENTS REQUIRE ASSISTANCE WITH ACTIVITIES OF DAILY LIVING, OUR COMPREHENSIVE RANGE OF SUPPORTIVE SERVICES IS DESIGNED TO FIT THEIR NEEDS, AND OUR CARING STAFF IS AVAILABLE 24 HOURS A DAY TO ASSIST THEM. DURING THE YEAR ENDED JUNE 30, 2017 THE ORGANIZATION PROVIDED SERVICES TO 212 RESIDENTS IN AN INDEPENDENT LIVING SETTING WITH 154 APARTMENTS AND VILLAS, AS WELL AS 71 RESIDENTS IN AN ASSISTED LIVING SETTING WITH 46 APARTMENTS. 4530681 4728894 SKILLED NURSING AND MEMORY CARE: HOLY CROSS VILLAGE IS LICENSED BY THE STATE DEPARTMENT OF HEALTH AS A CONTINUING CARE RETIREMENT COMMUNITY (CCRC) AND A SKILLED NURSING FACILITY. SERVICES ARE RESIDENT-CENTERED AND ARE FOCUSED ON LONG-TERM HEALTH CARE NEEDS AND/OR DIRECTED TO INDIVIDUALS THAT ARE RECOVERING FROM A BRIEF ILLNESS AND NEED TO REBUILD STRENGTH. REHABILITATION SERVICES ARE DELIVERED IN A RESIDENT-CENTERED PROGRAM THAT IS FOCUSED ON ACHIEVING POSITIVE OUTCOMES. RESIDENTS RECEIVE 24-HOUR NURSING SUPERVISION AND RESTORATIVE THERAPIES THAT ARE PHYSICIAN DIRECTED. THE ONSITE REHABILITATION CENTER DELIVERS PHYSICAL, OCCUPATIONAL AND SPEECH THERAPIES AS WELL AS OTHER SPECIALIZED SERVICES TO MEET REHABILITATION NEEDS. MEMORY CARE ACCOMMODATIONS ARE OFFERED IN A SECURED ENVIRONMENT DESIGNED TO MEET THE NEEDS OF SENIORS WITH ALZHEIMER'S, DEMENTIA AND OTHER MEMORY LOSS. INDIVIDUALS WHO NEED HELP WITH DAY-TO-DAY LIVING RECEIVE SPECIAL ENCOURAGEMENT TO ADD MEANING AND FULFILLMENT TO THEIR LIVES. SERVICES ARE TAILORED SPECIFICALLY TO EACH RESIDENT WHILE SUPPORTING A HEALTHY LIFESTYLE IN A SECURED AREA THAT HAS ACCESS TO A COURTYARD AND VIEWS OF A WOODED AREA. CERTIFIED NURSING ASSISTANTS PROVIDE STANDBY AND HANDS ON ASSISTANCE WITH BATHING, GROOMING AND ESCORTS. RESIDENTS ARE ENCOURAGED TO CONTINUE ACTIVITIES THEY LOVE AND ENJOY. A WIDE RANGE OF LIFE ENRICHING ACTIVITIES ARE PLANNED FOR RESIDENTS EACH DAY THAT ARE TARGETED TO RAISE SPIRITS, STIMULATE MINDS AND PROMOTE HAPPINESS. DURING THE YEAR ENDED JUNE 30, 2017, THE ORGANIZATION PROVIDED SERVICES TO 152 RESIDENTS IN A NURSING SETTING WITH 36 BEDS AND A NURSING DEMENTIA CENTER WITH 12 ROOMS. 12423498 true true false false false false false false false true true false false false true true true false false false false false false false false false false false false false true false false false false false false false false true false false false false false false true false false false true 55 0 true 195 true true true false false false false false false false false false X 11 10 false false false false true true true true true false false true true true true true true false false false IN X Bill Quig 5742862373 54515 STATE ROAD 933 NORTH NOTRE DAME IN 465560303 Kathleen Brickley Chairperson 1.0 X X 0 0 0 Tom Veldman Vice Chairperson 1.0 X X 0 0 0 James Keenan Treasurer 1.0 X X 0 0 0 Richard Gilman Secretary 1.0 X X 0 0 0 Br Lawrence Skitzki Director 1.0 X 0 0 0 Donald Fozo Director 1.0 X 0 0 0 Br Harold Ehlinger Director 1.0 X 0 0 0 Thomas Cassady Jr Director 1.0 X 0 0 0 Linda Paskiewicz Director 1.0 X 0 0 0 Br Chester Freel CSC Director 1.0 X 0 0 0 Maureen Miller Director 1.0 X 0 0 0 Br JAMES VAN DYKE CSC Director (partial year to May 2017) 1.0 X 0 0 0 John Mauch President/CEO (partial year until July 2016) 50.0 1.0 X 111997 0 3234 David Null President/CEO (partial year beginning July 2016) 40.0 1.0 X 75389 0 1264 William Quig CFO 40.0 1.0 X 126189 0 17273 Jack Mueller Administrator 40.0 X 103697 0 12208 417272 0 33979 3 false false true Sodexo Inc and Affiliates 4880 PAYSPHERE CIRCLE CHICAGO IL 60674 Dining Services 2203142 Healthwin 20531 Darden Rd South Bend IN 46637 Therapy services 441071 Howard Custom Enterprises Inc 21240 Johnson Road South Bend IN 46614 General contractor 266942 Talboom 26981 Kline Trail South Bend IN 46614 Landscaping 211628 Herrman & Goetz Inc 255 S Lafayette Blvd South Bend IN 46601 General contractor 111815 5 X 184525 61970 246495 Independent and assisted living 623000 7704534 7704534 Nursing services 623000 4623431 4623431 0 0 0 0 12327965 178690 178690 12304 12304 0 12304 12304 61586 61586 0 61586 61586 Security services 561612 320906 123269 197637 Dining, cafeteria & snack shop 900099 49565 49565 Rebates, refunds, purchase discounts 900099 23223 23223 14869 14869 0 0 408563 13235603 12538891 197637 252580 X 441518 441518 42809 33403 9406 3970678 3506610 464068 91099 78510 12589 799232 687340 111892 324020 278657 45363 55456 55456 69335 69335 2822866 2537223 285643 0 67032 67032 1435495 1296373 136613 2509 128884 68 128816 538620 538620 3988 413 3575 39691 11677 27858 156 963951 963951 3258896 3239271 19625 198396 198396 BAD DEBT EXPENSE 78335 78335 DUES AND SUBSCRIPTIONS 27617 15883 11734 RECRUITMENT, TRAINING AND DEVELOPMENT 6848 6848 UNIFORMS 17653 16215 1438 159344 37868 121447 29 15541763 12423498 3106165 12100 401107 0 5131785 1469345 536085 547896 0 0 0 42761 29878 102287 158220 60419958 30734773 31907410 29685185 8428381 7475752 1078884 1383691 0 1775236 1162445 49403936 41912412 930965 1022937 0 24302 31035868 24661221 33056460 33464400 65023293 59172860 X -16709722 -18655620 1090365 1395172 -15619357 -17260448 49403936 41912412 X -2306160 3597 661472 X false true X true false X 28991 375350 751042 800299 246495 2202177 11692731 12120903 12529629 12817190 12327965 61488418 73651 102929 118808 159719 0 455107 0 0 11795373 12599182 13399479 13777208 12574460 64145702 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 64145702 149094 114787 176275 240646 190994 871796 0 149094 114787 176275 240646 190994 871796 0 0 41732 43036 0 84768 0 0 0 0 0 0 11944467 12713969 13617486 14060890 12765454 65102266 0.9853 0.9854 0.0134 0.0133 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 77218 9321 4096 82443 84046 -2691 4137 77218 82214 2915 1083 84046 78244 7879 3909 82214 73765 8202 3723 78244 0.0 1.0 0.0 true false 37303847 15918011 21385836 4118962 3257125 861837 18814646 11425167 7389479 182503 134470 48033 29685185 Refundable and unearned entrance fees 32696481 Capital lease obligation 18244 Resident deposits 689198 Accrued interest payable 60477 33464400 X 12869754 3597 299228 -618674 -315849 13185603 50000 50000 13235603 14510845 299228 -1380146 -1080918 15591763 0 0 15591763 Schedule D, Part V, Line 4 Intended uses of endowment funds Endowment funds are held by The Community Foundation of St. Joseph County for the benefit of Holy Cross Village at Notre Dame. The endowment funds are intended to provide funding to support Holy Cross Village at Notre Dame's mission and tax-exempt purpose. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The organization is exempt from income taxes on income from related activities under Section 501(c)(3) of the U.S. Internal Revenue Code and corresponding state tax law. Accordingly, no provision has been made for federal or state income taxes. U.S. GAAP requires that a tax position is recognized as a benefit only if it is "more likely than not" that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the "more likely than not" test, no tax benefit is recorded. Due to its tax-exempt status, the Organization is not subject to U.S. federal income tax or state income tax. The Organization's Form 990 has not been subject to examination by the Internal Revenue Service or the state of Indiana for the last three years. The Organization does not expect the total amount of unrecognized tax benefits to significantly change in the next 12 months. The Organization recognizes interest and/or penalties related to income tax matters in income tax expense. The Organization did not have any amounts accrued for interest and penalties at June 30, 2017 or 2016. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 NET ASSET TRANSFER - -818642 CHANGE IN BENEFICIAL INTEREST OF HOLY CROSS VILLAGE FOUNDATION - 304807 LOSS ON REFINANCING OF DEBT - -104839 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements GRANT EXPENSE NETTED AGAINST CONTRIBUTION REVENUE PER AUDITED FINANCIAL STATEMENTS - 50000 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 Unrealized gain on swap - -1330146 GRANT EXPENSE NETTED AGAINST CONTRIBUTION REVENUE PER AUDITED FINANCIAL STATEMENTS - -50000 A Indiana Finance Authority 351602316 000000000 2015-11-24 25965000 REFUND 2006A&B & CONSTRUCT, INSTALL, AND REMODEL FACILITY false false false A 1153170 0 26544350 0 0 0 380178 0 0 75 25213245 950852 true true false true A false false true true false 0.011 0.0 0.011 false false true A false true false true true false false false true A true Schedule K, Part II, Line 4 A - Series 2015 Series 2015 Bonds do not have a Debt Service Reserve Requirement. The Series 2015 Bonds were privately placed. Schedule K, Part II, Line 6 A - Series 2015 Outstanding balance and value of the remaining Series 2015 proceeds held within the Series 2015 Escrow Fund. Schedule K, Part II, Line 11 A - Series 2015 Other spent proceeds mainly include Series 2015 proceeds and interest earnings that were used to current refund and/or advance refund Series 2006 Bonds. Schedule K, Part II, Line 12 A - Series 2015 Other unspent proceeds mainly include Series 2015 proceeds currently held in a Project Fund to be used for future capital expenditures. Schedule K, Part IV, Line 2a A - Series 2015 The Series 2015 Bonds qualify as a multipurpose issue with a current refunding portion, advance refunding portion, and a new money portion. The current refunding portion would have qualified for the 6-Month Spending Exception and would have been exempt from the arbitrage rebate calculation. The advance refunding portion and the new money portion are subject to arbitrage rebate compliance since such proceeds did not qualify for a spending exception. Holy Cross Village at Notre Dame, Inc. has hired an independent firm to review the Series 2015 Bonds annually for arbitrage compliance purposes using November 1st as the selected bond year. The first installment computation period for this issue will end as of November 1, 2020. The first bond year arbitrage compliance report completed as of January 10, 2017 reflects a $0.00 arbitrage liability accruing for the Series 2015 Bonds. Schedule K, Part IV, Line 2b B - Series 2015 See A - Series 2015's Part IV line 2a for explanation. Schedule K, Part IV, Line 2c A - Series 2015 See A - Series 2015's Part IV line 2a for explanation. Schedule K, Part IV, Line 3 A - Series 2015 The interest rates on the Series 2015 Bonds to maturity were unknown on the date of issuance. Therefore, the Series 2015 Bonds are treated as a variable rate issue and the yield for such bonds will be calculated separately for each computation period. The "Applicable Margin" or spread component was used to determine the yield on the Series 2015 Bonds during the first installment computation period and such yield was used by bond counsel in their determination that the Series 2015 Bonds were not arbitrage bonds and that the Series 2015 proceeds held in the defeasance Escrow Fund were yield restricted. Schedule K, Part IV, Line 4b A - Series 2015 Holy Cross Village at Notre Dame, Inc. did enter into an Interest Rate Swap Agreement for the Series 2015 Bonds. However, such hedge was not treated as a qualified hedge for federal tax purposes. Schedule K, Part IV A - Series 2015; Lines 5a-5d The Series 2015 Escrow Fund was invested in various "Open Market Securities". Holy Cross Village at Notre Dame, Inc. hired an independent bidding agent to to receive bids for the Open Market Securities and met the safe harbor requirements as defined within the U.S. Treasury Regulations. BARBARA CASSADY SPOUSE (THOMAS CASSADY, JR.) IS A BOARD MEMBER 42809 EMPLOYEE COMPENSATION false Form 990, Part VI, Line 15a PROCESS TO ESTABLISH COMPENSATION OF TOP MANAGEMENT OFFICIAL The Executive Compensation Committee reviews CEO compensation every two years. The most recent review was conducted in early 2016. In December 2015, an independent national HR consulting firm, Mercer, was engaged to conduct an analysis of the current compensation levels for the organization's executive leadership team. The executive leadership team consists of the CEO, CFO, COO, and DON. Following this analysis, the Executive Compensation Committee met to review the findings and provide recommendations for compensation adjustments. The Executive Compensation Committee also utilized the 2015 National Leading Age Conference survey of CCRCs and the 2015 Indiana Leading Age Conference Survey as comparability data in its most recent review of CEO compensation. Because this process was last undertaken prior to the beginning of the fiscal year ended 6/30/2017, with the intention of being undertaken every two years, this question has been answered "no" in accordance with Form 990 instructions. Form 990, Part VI, Line 15b PROCESS TO ESTABLISH COMPENSATION OF OTHER EMPLOYEES The Executive Compensation Committee reviews compensation of the executive leadership team every two years. The most recent review was conducted in early 2016. The executive leadership team consists of the CEO, CFO, COO, and DON. In December 2015, an independent national HR consulting firm, Mercer, was engaged to conduct an analysis of the current compensation levels for the organization's executive leadership team. Following this analysis, the Executive Compensation Committee met to review the findings and provide recommendations for compensation adjustments. The Executive Compensation Committee also utilized the 2015 National Leading Age Conference survey of CCRCs and the 2015 Indiana Leading Age Conference Survey as comparability data in its most recent review of executive leadership team compensation. In addition, the Executive Compensation Committee also reviews the salaries of the Controller, HR Director, and Plant Operations Director. This analysis is then provided to the CEO, along with recommendations regarding any compensation increases. Because this process was last undertaken prior to the beginning of the fiscal year ended 6/30/2017, with the intention of being undertaken every two years, this question has been answered "no" in accordance with Form 990 instructions. Form 990, Part VI, Line 1a Delegate broad authority to a committee The board, by resolution of a majority of directors, may appoint one or more standing or special committees as needed. The board shall appoint the executive committee, which shall be a standing committee. Members of the board shall be appointed by the board or chairperson, subject to the approval of the board. Each committee authorized to exercise any power of the board (opposed to advisory committees) shall have at least 2 directors and may consist of persons other than directors, provided at least a majority of committee members are directors. The executive committee shall be a standing committee, and shall have and exercise all powers of the board, subject to limitations set forth in the by laws, between board meetings. The executive committee shall consist of the chairperson, president, and 2 other directors selected by the chairman and subject to approval of the board. Actionstaken by the executive committee within the scope of its authority shall be considered the actions of the board. Form 990, Part VI, Line 6 Classes of members or stockholders The Brothers of Holy Cross, a related tax exempt organization, is the sole corporate member of Holy Cross Village at Notre Dame, Inc. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body The Brothers of Holy Cross has the power to appoint and remove members of the board, including the chairperson. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders The Brothers of Holy Cross has the following additional reserved powers: 1 - Work with the board of directors to review, consult, and approve any changes or deviations from the mission and values of Holy Cross Village at Notre Dame, Inc. 2 - Approve annual budgets and similarly developed board of director documents 3 - Approve amendments to the Articles of Incorporation, Bylaws, and similar governing documents 4 - Appoint and remove directors to the board 5 - Appoint and remove chairperson and president based upon recommendation of the board 6 - Approve any merger, consolidation, dissolution, or liquidation of Holy Cross Village at Notre Dame, Inc. 7 - Approve purchase, sale, donation, lease, mortgage, or other acquisition, disposition, or encumbrance of assets, except transactions within limits delegated to Holy Cross Village at Notre Dame, Inc, or previously approved as part of a strategic and financial plan 8 - Approve establishment, termination, transfer or other acquisition or disposition of any major ministry or similar program 9 - Approve creation of any new affiliate or affiliation of Holy Cross Village at Notre Dame, Inc. with another entity 10 - Approve incurrence of debt to other entities or the guaranty of debt of others for the amounts in excess of the member specified limits, except for transactions previously approved as part of a strategic and financial plan. 11 - Establish dollar limits which Holy Cross Village at Notre Dame, Inc. may authorize financial expenditures, including contracts involving expenditures 12 - Establish dollar limits which Holy Cross Village at Notre Dame may authorize litigation settlements or release or cancel any claim of action against another party Form 990, Part VI, Line 11b Review of form 990 by governing body Holy Cross Village management reviewed a draft of the form 990 & 990T in detail. A final draft of the 990 & 990T, including all applicable schedules, was then distributed to the board of directors in May prior to filing with the IRS. Form 990, Part VI, Line 12c Conflict of interest policy A conflict of interest questionnaire is distributed to the board members annually. The forms are then reviewed for potential conflicts. If a conflict is noted, the member is excused from voting on any issue related to the conflict. The conflict of interest policy and questionnaire is also part of the Holy Cross Village annual review policy for all employees. Form 990, Part VI, Line 19 Required documents available to the public Holy Cross Village at Notre Dame Inc.'s governing documents, conflict of interest policy, and financial statements are available to the public in an electronic pdf file or printed paper format. Form 990, Part VIII, Line 11d Other Miscellaneous Revenue Miscellaneous revenue - Total Revenue: 14869, Related or Exempt Function Revenue: 14869, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Form 990, Part IX, Line 11g Other Fees Therapy - Total Expense: 380341, Program Service Expense: 380341, Management and General Expenses: , Fundraising Expenses: ; Dining Services - Total Expense: 1405105, Program Service Expense: 1305811, Management and General Expenses: 99294, Fundraising Expenses: ; Plant Repairs and Maintenance - Total Expense: 427282, Program Service Expense: 420862, Management and General Expenses: 6420, Fundraising Expenses: ; Grounds - Total Expense: 167195, Program Service Expense: 167195, Management and General Expenses: , Fundraising Expenses: ; Other - Total Expense: 73633, Program Service Expense: 10761, Management and General Expenses: 62872, Fundraising Expenses: ; Agency - Total Expense: , Program Service Expense: , Management and General Expenses: , Fundraising Expenses: ; Consultant - Total Expense: 67127, Program Service Expense: 35708, Management and General Expenses: 31419, Fundraising Expenses: ; Freight - Total Expense: 541, Program Service Expense: 207, Management and General Expenses: 334, Fundraising Expenses: ; Laundry and Housekeeping - Total Expense: 135174, Program Service Expense: 135174, Management and General Expenses: , Fundraising Expenses: ; Outside services - Total Expense: 160524, Program Service Expense: 75220, Management and General Expenses: 85304, Fundraising Expenses: ; Transportation - Total Expense: 5944, Program Service Expense: 5944, Management and General Expenses: , Fundraising Expenses: ; Form 990, Part XI, Line 9 Other changes in net assets or fund balances Net asset transfer - -818642; Change in beneficial interest in Holy Cross Village Foundation - 304807; Unrealized gain on interest rate swap agreement - 1330146; Loss on refinance of debt - -104839; EQUITY TRANSFER TO Holy Cross Village Foundation - -50000; BROTHERS OF HOLY CROSS INC 54515 SR 933 N PO BOX 460 NOTRE DAME IN 46556 350868938 ROMAN CATHOLIC CHURCH RELIGIOUS ORDER IN 501(c)(3) 1 CONGREGATION OF HOLY CROSS false HOLY CROSS VILLAGE FOUNDATION 54515 SR 933 N PO BOX 303 NOTRE DAME IN 46556 263861889 SUPPORT HOLY CROSS VILLAGE AT NOTRE DAME IN 501(c)(3) Type II BROTHERS OF HOLY CROSS false false false true false false false false false false false true true true false false true true true false