2016-11-01T14:08:16-05:00 2015-12-31 410746749 CLIFTONLARSONALLEN LLP 610 W GERMANTOWN PIKE STE 400 PLYMOUTH MEETING PA 19462 990 2015-01-01 830344521 WHITEMARSH CONTINUING CARE RETIREMENT COMMUNITY WHIT 2154028500 4000 FOX HOUND DRIVE LAFAYETTE HILL PA 19444 JUDITH MCGRUTHER CEO 2154028500 2016-10-28 1 BERNADETTE O'TOOLE CPA P00229258 2156433900 2015 2017-02-10 21:41:12Z JUDITH MCGRUTHER 4000 FOX HOUND DRIVE LAFAYETTE HILL PA 19444 54333795 0 X WWW.THEHILLATWHITEMARSH.ORG X 2001 PA TO PROVIDE QUALITY RESIDENTIAL AND HEALTH CARE SERVICES TO SENIOR CITIZENS IN OUR SURROUNDING COMMUNITIES TO ALLOW OUR RESIDENTS TO LIVE AS INDEPENDENT A LIFESTYLE AS POSSIBLE WITH DIGNITY AND COMPASSION. 17 16 374 100 0 0 573857 1394958 29922965 29675092 35599 160408 1042757 4744239 31575178 35974697 0 0 0 0 10056379 10665190 0 60000 60000 25605399 24783629 35661778 35508819 -4086600 465878 214434534 211084336 258393187 254613246 -43958653 -43528910 TO PROVIDE QUALITY RESIDENTIAL AND HEALTH CARE SERVICES TO SENIOR CITIZENS IN OUR SURROUNDING COMMUNITIES TO ALLOW OUR RESIDENTS TO LIVE AS INDEPENDENT A LIFESTYLE AS POSSIBLE WITH DIGNITY AND COMPASSION. 0 0 32368742 29675092 WHITEMARSH CONTINUING CARE RETIREMENT COMMUNITY OWNS AND OPERATES A CONTINUING CARE RETIREMENT COMMUNITY WHICH PROVIDES HOUSING, HEALTH CARE, DINING, WELLNESS AND RELATED SERVICES AND AMENITIES TO SERVE ITS 65 AND OLDER SENIOR RESIDENTS. THE COMMUNITY IS COMPRISED OF 177 APARTMENT RESIDENCES, 84 ATTACHED AND DETACHED SINGLE FAMILY HOMES, 60 SKILLED NURSING ROOMS AND 28 ASSISTED LIVING SUITES IN THE HEALTH CENTER AND DINING AND WELLNESS FACILITIES LOCATED ON 96 ACRES IN WHITEMARSH TOWNSHIP, PENNSYLVANIA. AS OF DECEMBER 31, 2015, 215 OF THE RESIDENCES WERE OCCUPIED. 32368742 1 1 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 1 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 60 0 374 1 0 0 0 0 0 0 0 0 0 0 X 17 16 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 PA X WILLIAM MCCORMICK CFO 2154028712 4000 FOX HOUND DRIVE LAFAYETTE HILL PA 19444 NEIL LUBARSKY DIRECTOR 0.50 0.00 X 0 0 0 HENRY CROUTER TREASURER 1.00 0.00 X X 0 0 0 PHILIP S DEMING DIRECTOR 1.00 0.00 X 0 0 0 EDITH DIXON DIRECTOR 0.50 0.00 X 0 0 0 WILLIAM MCDOWELL DIRECTOR 0.50 0.00 X 0 0 0 LOUISE JOHNSTON DIRECTOR 0.50 0.00 X 0 0 0 RICHARD JONES JR CHAIRMAN 2.00 0.00 X X 0 0 0 WILLIAM MARAZZO DIRECTOR 0.50 0.00 X 0 0 0 JUDITH MCGRUTHER CHIEF EXECUTIVE OFFICER 50.00 0.00 X X 398339 0 11428 JOHN BINSWANGER DIRECTOR 0.50 0.00 X 0 0 0 JESSICA MOORE DIRECTOR 0.50 0.00 X 0 0 0 HUGH MOULTON SECRETARY 1.00 0.00 X X 0 0 0 JAMES STUDDIFORD DIRECTOR 0.50 0.00 X 0 0 0 MACK STULB DIRECTOR 0.50 0.00 X 0 0 0 SUSAN PARKS DIRECTOR 0.50 0.00 X 0 0 0 BRUCE WILSON VICE CHAIRMAN 1.00 0.00 X X 0 0 0 LUCY AMERMAN DIRECTOR 0.50 0.00 X 0 0 0 PETER FLEMING CHIEF OPERATING OFFICER (PREVIOUS CFO) 50.00 0.00 X 202122 0 13589 WILLIAM MCCORMICK CHIEF FINANCIAL OFFICER 50.00 0.00 X 32115 0 0 PETER VON MECHOW HEALTHCARE ADMINISTRATOR 50.00 0.00 X 128206 0 1938 760782 0 26955 3 0 1 0 FUNCTIONAL PATHWAYS 614 MABRY HOOD ROAD SUITE 301 KNOXVILLE TN 37932 THERAPY PROVIDER 1153198 SENIOR HEALTH VENTURES LLC 737 WEST CHESTER PIKE SUITE 5 HAVERTOWN PA 19083 HOME CARE COMPANIONS 804510 RJL SERVICES 852 MEADOWNWOOD LANE WARMINSTER PA 18974 GENERAL CONTRACTOR 518200 PEPPER HAMILTON LLP 3000 TWO LOGAN SQUARE PHILADELPHIA PA 19103 LEGAL SERVICES 490997 CREATING RESULTS LLC 14000 CROWN COURT SUITE 211 WOODBRIDGE VA 22193 MARKETING SERVICES 446624 5 1394958 1394958 RESIDENT CARE FEES 623000 25426374 25426374 AMORT OF DEFERRED ENTRANCE FEES 623000 3629904 3629904 MEDICAL CARE FEES 623000 618814 618814 29675092 164530 164530 23666 0 23666 23666 23666 18354976 18359098 -4122 -4122 -4122 GAIN ON EXTINGUISHMENT OF DEBT 623990 3609270 3609270 MEAL REVENUE 722210 414436 414436 UTILITIES REVENUE 221000 231399 231399 465468 465468 4720573 35974697 29675092 0 4904647 657593 657593 8327751 7763639 564112 86504 86504 873981 801152 72829 719361 555509 163852 261328 261328 67020 67020 60000 60000 1251582 1251582 128915 97268 31647 4336684 4012579 324105 256041 108177 147864 3139028 3085363 53665 10573 5776 4797 22567 13751 8816 6572357 6572357 7881188 7881188 544301 544301 REPAIRS AND MAINTENANCE 212251 211424 827 EDUCATION AND TRAINING 56369 0 56369 DUES AND SUBSCRIPTIONS 43425 8977 34448 35508819 32368742 3080077 60000 2486727 2713235 52203 5064443 889432 979226 807913 906020 233083523 50345615 185563272 182737908 18633490 14635426 6001497 4048078 214434534 211084336 1901931 1970232 123795664 122003808 115572864 125322875 247393 466532 6072000 1500000 10803335 3349799 258393187 254613246 X -44214054 -43712103 255401 183193 -43958653 -43528910 214434534 211084336 465878 -36134 0 X X 0 1 X 1 0 X 437831 1041096 2028517 573857 1394958 5476259 28441669 30684480 29504030 29958358 29675092 148263629 28879500 31725576 31532547 30532215 31070050 153739888 305549 670415 1702725 189045 610000 3477734 0 305549 670415 1702725 189045 610000 3477734 150262154 390130 198640 158502 131416 188196 1066884 390130 198640 158502 131416 188196 1066884 898120 2172831 916428 984873 4720573 9692825 30167750 34097047 32607477 31648504 35978819 164499597 0.91340 0.93680 0.00650 0.00800 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 14343480 14343480 213238330 46344887 166893443 5501713 4000728 1500985 182737908 ASSETS LIMITED AS TO USE 9909023 C STATUTORY LIQUID RESERVE 4726403 C 14635426 INTEREST PAYABLE ON BONDS 3175050 INTEREST PAYABLE ON NOTES 174749 3349799 X 35938563 -36134 -36134 35974697 0 35974697 35508820 0 35508820 0 35508820 PART IV, LINE 2B: DEPOSITS FROM PROSPECTIVE RESIDENTS CONSISTING OF RESERVATION FEE DEPOSITS ARE RECEIVED FROM PROSPECTIVE RESIDENTS PURSUANT TO THE EXECUTION OF THE RESIDENCY AGREEMENT AND GENERALLY REPRESENT 5% OF THE TOTAL ENTRANCE FEE FOR THE UNIT SELECTED. THE DEPOSITS ARE APPLIED TO THE TOTAL ENTRANCE FEE DUE UPON OCCUPANCY. PART X, LINE 2: THE CORPORATION HAS BEEN GRANTED EXEMPT STATUS RELATIVE TO FEDERAL AND STATE CORPORATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND APPLICABLE STATE CODES. THE CORPORATION FOLLOWS THE GUIDANCE IN THE INCOME TAX STANDARD REGARDING THE RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. THE GUIDANCE CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS. THE GUIDANCE FURTHER PRESCRIBES RECOGNITION AND MEASUREMENT OF TAX PROVISIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. THE APPLICATION OF THIS STANDARD HAS NO IMPACT ON THE CORPORATION'S FINANCIAL STATEMENTS. X X X X 1 JOHN KELEHER 4331 TROPHY DRIVE BOOTHWYN PA 19061 FUNDRAISING CONSULTANT 0 0 60000 0 60000 PA SCHEDULE G, PART I, LINE 2B, COLUMN (V) $60,000 FIXED FEE PAID TO CONSULT THE ORGANIZATION ON THEIR CAPITAL CAMPAIGN AND SIMILAR EFFORTS DURING THE YEAR. 1 X X X X 0 1 0 0 0 0 0 0 0 JUDITH MCGRUTHER CHIEF EXECUTIVE OFFICER 323541 0 74798 0 0 0 4976 0 6452 0 409767 0 0 0 PETER FLEMING CHIEF OPERATING OFFICER (PREVIOUS CF 162392 0 39730 0 0 0 4136 0 9453 0 215711 0 0 0 PART I, LINE 4B JUDITH MCGRUTHER PARTICIPATED IN THE 457F PLAN AND MADE CONTRIBUTIONS OF $18,000 DURING 2015. A MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 232245125 613609B96 2015-03-12 125313677 REFINANCE DEBT (2005 AND 2008 BONDS) AND CAPITAL PROJECTS 0 0 0 B MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 232245125 NONEAVAIL 2015-01-28 1500000 FINANCE PORTION OF EXPANSION 0 0 0 A 125313677 7833638 6612853 2506273 3606913 104754000 2015 1 1 1 1 B 1500000 1500000 0 0 1 1 A 0 1 0 0 0.00220 0.00000 0.00220 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 0 0 0 0 1 B 0 1 0 0 1 0 0 0 1 A 1 B 1 SCHEDULE K PART IV LINE 2C COL. A AND B THE REBATE COMPUTATION FOR THE 2005 AND 2008 BOND WAS PERFORMED ON FEBRUARY 1 OF 2014. FORM 990, PART VI, SECTION A, LINE 1 AN EXECUTIVE COMMITTEE AND/OR ANY OTHER STANDING OR TEMPORARY COMMITTEE, CONSISTING OF TWO (2) OF MORE DIRECTORS, MAY BE APPOINTED BY THE BOARD OF TRUSTEES FROM TIME TO TIME ON THE RECOMMENDATION OF THE BOARD CHAIR, WHO WILL DESIGNATE THE CHAIR OF EACH COMMITTEE. COMMITTEES MAY INCLUDE MEMBERS WHO ARE NOT DIRECTORS, HOWEVER, SUCH NON-DIRECTORS MEMBERS WILL BE NON-VOTING. EACH SUCH COMMITTEE SHALL HAVE AND EXERCISE SUCH AUTHORITY OF THE BOARD OF DIRECTORS ON BEHALF OF THE CORPORATION IN THE MANAGEMENT OF THE BUSINESS AND AFFAIRS OF THE CORPORATION AS THE BOARD MAY SPECIFY IN THE RESOLUTION ESTABLISHING SUCH COMMITTEE OR AS THE BOARD BY RESOLUTION MAY SUBSEQUENTLY DETERMINE, WHICH MAY INCLUDE ANY ACTION WHICH THE PENNSYLVANIA NONPROFIT CORPORATION LAW OF 1988 PROVIDES SHALL OR MAY BE TAKEN BY THE BOARD OF DIRECTORS. THE PROVISIONS OF THESE BY-LAWS SHALL APPLY IN THEIR ENTIRETY TO EACH COMMITTEE. ANY ACTION TAKEN BY ANY COMMITTEE SHALL BE SUBJECT TO ALTERATION OR REVOCATION BY THE BOARD OF DIRECTORS; PROVIDED, HOWEVER, THAT THIRD PARTIES SHALL NOT BE PREJUDICED BY SUCH ALTERATION OR REVOCATION. A QUORUM FOR EACH SUCH COMMITTEE SHALL CONSIST OF A MAJORITY OF THE MEMBERS OF SUCH COMMITTEE, AND ALL VOTES SHALL BE BY MAJORITY VOTE OF THE MEMBERS PRESENT. FORM 990, PART VI, SECTION B, LINE 11 THE 990 IS REVIEWED WITH THE BOARD'S AUDIT COMMITTEE AT ONE OF THEIR REGULAR QUARTERLY MEETINGS AND THEN DISTRIBUTED TO THE WHOLE BOARD FOR THEIR REVIEW PRIOR TO FILING WITH THE IRS FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST STATEMENTS ARE COMPLETED ANNUALLY BY EACH BOARD MEMBER AND SUBMITTED TO THE GOVERNANCE COMMITTEE OF THE BOARD FOR THEIR REVIEW. BASED ON THEIR REVIEW, THE GOVERNANCE COMMITTEE DETERMINES WHETHER A POTENITAL OR ACTUAL CONFLICT OF INTEREST EXISTS AND SUBMITS THE MATTER TO THE FULL BOARD FOR THEIR CONSIDERATION. THE FULL BOARD THEN DECIDES WHAT ACTION SHOULD BE TAKEN IN RESPONSE TO THE CONFLICT WHICH MAY INCLUDE THE RESIGNATION FROM THE BOARD OF THE MEMBER WITH A CONFLICT. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION OF THE CEO IS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD BASED ON A REVIEW OF THE CEO'S PERFORMANCE RELATIVE TO THE ORGNANIZATION'S GOALS, A REVIEW OF THE COMPENSATION OF CEO'S FROM COMPARABLE NONPROFIT ORGANIZATIONS FROM THEIR FORM 990 AND A REVIEW OF RELVANT COMPENSATION SURVEY INFORMATION AND WITH THE ADVICE OF COUNSEL. THE COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES IS DETERMINED BY THE CEO BASED ON A REVIEW OF THE KEY EMPLOYEES PERFORMANCE RELATIVE TO THE ORGNANIZATION'S GOALS, A REVIEW OF COMPENSATION AT COMPARABLE NONPROFIT ORGANIZATIONS FROM THEIR FORM 990, A REVIEW OF RELEVANT SALARY SURVEYS AND WITH THE ADVICE OF THE EXECUTIVE COMMITTEE. COMPENSATION REVIEWS FOR THE OFFICERS KEY EMPLOYEES LAST OCCURRED IN 2015. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S FINANCIAL STATEMENTS ARE POSTED TO A FINANCIAL DISCLOSURE WEB SITE, INCLUDED WITH THE PUBLICLY AVAILABLE DISCLOSURE STATEMENT OF THE COMMUNITY AND DISTRIBUTED UPON REQUEST TO ALL RESIDENTS OF THE COMMUNITY. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.