2017-11-10T07:48:27-06:00 2016-12-31 410746749 CLIFTONLARSONALLEN LLP 610 W GERMANTOWN PIKE STE 400 PLYMOUTH MEETING PA 19462 990 2016-01-01 232212842 WAVERLY HEIGHTS LTD WAVE 6106458600 1400 WAVERLY ROAD GLADWYNE PA 190351254 ROBERT L SUPPER SENIOR VICE PRESIDENT & CFO 6106458600 2017-11-02 1 JAMES D WATSON P01450300 2156433900 67.137.57.251 2017-11-02 16:01:24 ED P AB3B487CF876E6D678714254ABF4DA4E0998236E 93D0633D7DD0F7E5534B72EAFB5186FE6392AF4A 2016 2017-02-10 21:41:12Z THOMAS GARVIN 1400 WAVERLY ROAD GLADWYNE PA 190351254 38547613 0 X WWW.WAVERLYHEIGHTSLTD.ORG X 1982 PA A NOT FOR PROFIT CORPORATION ESTABLISHED TO PROVIDE QUALITY SENIOR SERVICES TO ITS RESIDENTS. 22 21 416 65 807222 806222 261815 233624 26967946 28083059 984624 1625442 2067017 1870619 30281402 31812744 0 0 0 0 13918356 14520204 0 0 0 14682577 14737974 28600933 29258178 1680469 2554566 115407985 123850577 109429268 114036333 5978717 9814244 X WAVERLY HEIGHTS IS A NOT FOR PROFIT CORPORATION ESTABLISHED TO PROVIDE HIGH QUALITY SENIOR SERVICES IN A PROFESSIONAL AND CARING MANNER. WE DO THIS BY PROVIDING AN EXCEPTIONAL ENVIRONMENT, A WIDE RANGE OF OUTSTANDING CULTURAL ACTIVITIES, A WELL-MAINTAINED PHYSICAL PLANT, WELLNESS SUPPORT AND COMPREHENSIVE MEDICAL SERVICES. WE ARE THE EMPLOYER OF CHOICE FOR PEOPLE WHO ARE COMMITTED AND ATTENTIVE TO THE NEEDS OF SENIORS. WE ACCOMPLISH THIS WHILE MEETING RIGOROUS STANDARDS OF FINANCIAL STABILITY. 1 0 20014201 29932240 A LIFE PLAN COMMUNITY PROVIDING SENIOR SERVICES TO ITS RESIDENTS WHILE SERVING THEIR PHYSICAL, EMOTIONAL, RECREATIONAL, SOCIAL, RELIGIOUS AND HEALTH NEEDS. THESE SERVICES ARE PROVIDED TO RESIDENTS THROUGH THE OPERATION OF 210 INDEPENDENT LIVING UNITS, A 49 UNIT SKILLED NURSING FACILITY, AND A 49 UNIT PERSONAL CARE FACILITY. 20014201 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 1 0 0 1 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 1 0 0 0 1 188 0 416 1 1 1 0 0 0 0 0 0 0 0 0 X 22 21 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X ROBERT SUPPER 6106458600 1400 WAVERLY ROAD GLADWYNE PA 190351254 RICHARD E BAUER CHAIRMAN 1.50 0.25 X X 0 0 0 ROBERT K BARRY VICE CHAIRMAN & TRUSTEE/WC 1.50 0.25 X X 0 0 0 R MICHAEL BUCKLEY MD VICE CHAIRMAN & TRUSTEE/WC 1.50 0.25 X X 0 0 0 SCOTT M JENKINS TREASURER & TRUSTEE/WCA 1.50 0.25 X X 0 0 0 KATHLEEN A MCENDY SECRETARY & TRUSTEE 1.50 X X 0 0 0 A GERALD MENTHAL MD TRUSTEE 1.50 X 0 0 0 ANITA SUMMERS TRUSTEE 1.50 X 0 0 0 ANNE CONROY TRUSTEE 1.50 X 0 0 0 ANNE MARIE HEIL TRUSTEE 1.50 X 0 0 0 DAVID J FARLING FORMER TRUSTEE 1.50 X 0 0 0 DEBORAH WESELLS TRUSTEE 1.50 X 0 0 0 DONALD R FLEISCHER TRUSTEE 1.50 X 0 0 0 MALCOLM SCHOENBERG FORMER TRUSTEE 1.50 X 0 0 0 ELEANOR L DAVIS TRUSTEE 1.50 X 0 0 0 ELIZABETH MCLEAN TRUSTEE 1.50 X 0 0 0 GARY L BRAGG TRUSTEE 1.50 X 0 0 0 GERALD HANSEN TRUSTEE 1.50 X 0 0 0 HOWARD W BUZZARD TRUSTEE 1.50 X 0 0 0 LEWIS W BLUEMLE TRUSTEE 1.50 X 0 0 0 RICHARD J CONWAY TRUSTEE 1.50 X 0 0 0 ROBERT ROBINSON TRUSTEE 1.50 X 0 0 0 STEVE FUGALE TRUSTEE 1.50 X 0 0 0 STEVEN D KIRKPATRICK TRUSTEE 1.50 X 0 0 0 WILLIAM BATES TRUSTEE EMERITUS 1.50 X 0 0 0 THOMAS GARVIN PRESIDENT & CEO 45.00 X 524914 0 25511 ROBERT SUPPER SENIOR VP & CFO 45.00 X 265108 0 24496 MARC D HEIL VP OF BUILDING SERVICES 45.00 X 141787 0 24652 JANET THOMPSON VP OF MARKETING 45.00 X 159208 0 19033 JACQUELINE DONNELLY DIRECTOR OF NURSING 45.00 X 118205 0 8715 MARGARET FAHA SALES COUNSELOR 45.00 X 108950 0 7693 MEREDITH FEHER SENIOR VP OF HEALTH CARE S 45.00 X 197662 0 24776 1515834 0 134876 10 0 1 0 WS CUMBY INC 938 LINCOLN AVENUE SPRINGFIELD PA 19064 CONSTRUCTION 1147810 LIBERTY BUILDERS 619 ELLIS ROAD HAVERTOWN PA 19083 CONSTRUCTION 1088147 RLPS ARCHITECTS 250 VALLEYBROOK DRIVE LANCASTER PA 17601 ARCHITECTURE 695597 REHABCARE 7733 FORSYTH BLVD SUITE 1700 ST LOUIS MO 63105 THERAPY 579918 MORRISON MANAGEMENT SPECIALTIES 5801 PEACHTREE DUNWOODY ROAD ATLANTA GA 30342 DINING 425283 9 233624 9098 233624 RESIDENT CARE FEES 623990 15596731 15596731 SKILLED NURSING FACILITY 623990 5260499 5260499 AMORTIZATION OF DEFERRED REVENUE 623990 3055296 3055296 PERSONAL CARE 623990 2763258 2763258 MEMORY SUPPORT 623990 1407275 1407275 28083059 833098 807222 25876 21438 0 21438 21438 21438 7387069 140144 6622498 112371 764571 27773 792344 792344 ANCILLARY SERVICES 623990 1055984 1055984 CONTRACT FEE 623990 525000 525000 MANAGEMENT FEE 623990 268197 268197 1849181 31812744 29932240 807222 839658 840029 840029 10037544 8062654 1974890 943166 943166 1891000 36845 1854155 808465 687635 120830 54252 54252 66710 66710 1439795 1288484 151311 141844 141844 741563 428995 312568 251584 251584 2870433 1334399 1536034 30755 6087 24668 16110 7267 8843 1086697 825890 260807 4179848 3176684 1003164 299641 299641 DINING SERVICES 1484155 1484155 SUPPLIES 1443701 1204191 239510 MAINTENANCE & REPAIRS 630886 630886 29258178 20014201 9243977 0 4188012 2586634 2196057 5010430 3692494 5435682 74832 71236 804035 874087 138622197 58036156 79402508 80586041 21266245 25201032 3010398 3064541 773404 1020894 115407985 123850577 3015124 4206170 70490667 73194065 35115184 35683962 808293 952136 109429268 114036333 X 5498078 9356481 410539 387663 70100 70100 5978717 9814244 115407985 123850577 X 2554566 422396 858565 X 0 1 X 1 0 X 13292 281614 300218 261815 233624 1090563 21328729 25135327 27346264 29012643 29932240 132755203 21342021 25416941 27646482 29274458 30165864 133845766 0 0 0 133845766 458967 452035 850470 254039 47314 2062825 758592 721074 696030 747158 532107 3454961 1217559 1173109 1546500 1001197 579421 5517786 1175353 1841948 1297103 2044697 6359101 23734933 28431998 30490085 32320352 30745285 145722653 0.91850 0.89520 0.03790 0.04480 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 480639 233624 256500 457763 452436 261815 233612 480639 547306 300218 395088 452436 499842 227381 43546 136371 547306 1789310 661656 6259 1944865 499842 0.15300 0.84700 0 0 11505208 11505208 85578527 32835889 52742638 37565201 24768650 12796551 3973261 431617 3541644 80586041 X 33093705 422396 858565 1280961 31812744 0 31812744 29258178 0 29258178 0 29258178 PART IV, LINE 2B: REFUNDABLE DEPOSITS FOR SKILLED NURSING AND ASSISTED LIVING - $283,136 PRIORITY DEPOSITS FOR INDEPENDENT LIVING - $669,000 TURNBERRY DEPOSITS - $888,300 PART V, LINE 4: RESIDENT ASSISTANCE, EMPLOYEE ASSISTANCE, AND INFRASTRUCTURE IMPROVEMENT PART X, LINE 2: WAVERLY IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM STATE INCOME TAXES UNDER THE COMMONWEALTH OF PENNSYLVANIA STATUTES. WAVERLY FOLLOWS THE PROVISIONS OF THE INCOME TAX ACCOUNTING STANDARDS REGARDING THE RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. IT IS THE WAVERLY'S POLICY TO ACCOUNT FOR ANY INTEREST OR PENALTIES ASSESSED RELATING TO UNCERTAIN TAX POSITIONS, IF ANY, AS GENERAL AND ADMINISTRATIVE EXPENSES. WAVERLY DID NOT INCUR ANY INTEREST OR PENALTIES FOR THE YEARS ENDED DECEMBER 31, 2016 OR 2015. THE APPLICATION OF THESE PROVISIONS HAS NO IMPACT ON THE WAVERLY'S CONSOLIDATED FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: DISTRIBUTIONS FROM WCA 858,565. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 46058 0 0 0 0 0 0 46058 0 46058 0 0 1 0 0 0 X 0 1 X X X X X 0 0 0 0 0 0 0 0 0 THOMAS GARVIN PRESIDENT & CEO 310021 0 40250 0 174643 0 0 0 25511 0 550425 0 0 0 ROBERT SUPPER SENIOR VP & CFO 194328 0 30000 0 40780 0 0 0 24496 0 289604 0 0 0 MARC D HEIL VP OF BUILDING SERVICES 118253 0 10000 0 13534 0 0 0 24652 0 166439 0 0 0 JANET THOMPSON VP OF MARKETING 123213 0 20000 0 15995 0 0 0 19033 0 178241 0 0 0 MEREDITH FEHER SENIOR VP OF HEALTH CARE S 158826 0 20000 0 18836 0 0 0 24776 0 222438 0 0 0 PART I, LINE 1A CERTAIN TRANSPORTATION, MEALS AND TRAVEL EXPENSES ARE PAID FOR THE SPOUSE OF THE CEO AND PAYMENTS ARE TREATED AS TAXABLE INCOME. PART II, LINE 1 OTHER REPORTABLE COMPENSATION INCLUDES ONE TIME RELOCATION EXPENSES TO THE CEO AND THE PAYMENT IS TREATED AS TAXABLE INCOME. A MONTGOMERY COUNTY HIGHER EDUCATION AND HEALTH AUTHORITY 232447147 2014-02-01 11184057 TO REFINANCE 2006 BONDS ISSUED 0 0 0 B MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 232245125 2013-09-03 5990000 TO REFINANCE 2009 BONDS ISSUED 0 0 0 C MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 232245125 2013-08-16 10000000 TO REFINANCE 2009 BONDS ISSUED 0 0 0 D MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 232245125 2013-08-01 10000000 TO REFINANCE 2009 BONDS ISSUED 0 0 0 A 1990345 11184057 11184057 1 0 1 1 B 35000 5990000 5990000 1 0 1 1 C 70000 10000000 10000000 1 0 1 1 D 70000 10000000 10000000 1 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 D 0 0 0 0 0 0 0 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 1 0 0 0 1 C 0 0 0 1 1 0 0 0 1 D 0 0 0 1 1 0 0 0 1 A 1 B 1 C 1 D 1 SCHEDULE K, PART IV, LINE 2C WAVERLY HEIGHTS UNDERWENT AN ARBITRAGE CALCULATION ON AUGUST 25, 2015. THE CALCULATION NOTED THAT THERE WAS NO LIABILITY ON THE REFINANCED 2006 AND 2009 BONDS. A GREEN LANE INDUSTRIAL DEVELOPMENT AUTHORITY 030602074 2015-12-22 10000000 TO FINANCE 2016 EXPANSION PROJECTS 0 0 0 B GREEN LANE INDUSTRIAL DEVELOPMENT AUTHORITY 030602074 2016-01-29 5000000 TO FINANCE 2016 EXPANSION PROJECTS 0 0 0 A 1395960 152005 1243955 0 0 0 0 B 65937 65937 0 0 0 0 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 A 0 1 0 0 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 A 1 B 1 FORM 990, PART III, LINE 2 ILU EXPANSION PROJECT FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE SENIOR VICE PRESIDENT OF FINANCE, AND ACCOUNTING MANAGER, AFTER PREPARED BY THE INDEPENDENT ACCOUNTANT. THE FINANCE COMMITTEE PERFORMS A FINAL REVIEW BEFORE FILING AND A COPY IS PROVIDED TO ALL MEMBERS OF THE BOARD OF TRUSTEES BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C WAVERLY HEIGHTS LTD'S CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY TO PROVIDE GUIDANCE TO GOVERNING BOARD MEMBERS. ALL NEW MEMBERS SIGN OFF ON THIS POLICY UPON APPOINTMENT TO THE BOARD. ANY POSSIBLE CONFLICT OF INTEREST ON THE PART OF THE GOVERNING BOARD MEMBERS IS DISCLOSED TO THE OTHER MEMBERS OF THE BOARD AND MADE A MATTER OF RECORD WHEN THE CONFLICT BECOMES A MATTER OF BOARD ACTION. ANY GOVERNING BOARD MEMBERS HAVING A CONFLICT OF INTEREST SHALL NOT VOTE OR USE THEIR PERSONAL INFLUENCE ON THE MATTER, EVEN WHERE PERMITTED BY LAW. THE MINUTES OF THE MEETING SHALL REFLECT THE DISCLOSURE, ABSTENTION AND THE QUORUM. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE CEO AND SENIOR MANAGEMENT OF WAVERLY HEIGHTS LTD IS DETERMINED BY THE BOARD HUMAN RESOURCES COMMITTEE BASED ON THE RECOMMENDATIONS FROM AN INDEPENDENT CONSULTANT. THE CONSULTANT BASES THEIR INFORMATION ON SURVEY DATA FROM SIMILAR LIFE PLAN COMMUNITIES AND EXTERNAL DATA. ADDITIONALLY, ANY SIGNIFICANT ADJUSTMENTS FOR CHANGE AND ANNUAL ADJUSTMENTS ARE REVIEWED AND RECOMMENDED BY THE HUMAN RESOURCES COMMITTEE TO THE BOARD OF TRUSTEES. THIS PROCESS WAS REVIEWED AND APPROVED IN 2016. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE ALL MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: DISTRIBUTIONS FROM WCA 858,565. WAVERLY CARE ASSOCIATES 1400 WAVERLY ROAD GLADWYNE PA 190351254 232655145 COMPANION SERVICES PA N/A S 858565 1826714 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 1 0 1 WAVERLY CARE ASSOCIATES INC L 268197 FAIR MARKET VALUE