2016-11-15T16:21:29-06:00 2015-12-31 751044330 LANE GORMAN TRUBITT LLC 2626 HOWELL ST SUITE 700 DALLAS TX 75204 990 2015-01-01 300097872 BUCKINGHAM SENIOR LIVING COMMUNITY INC BUCK 4694205450 12720 HILLCREST ROAD SUITE 106 DALLAS TX 75230 BENJAMIN CANTRELL CFO 4694205450 2016-11-15 1 JAMES A YOUNGBLOOD CPA P00047431 2148717500 2015 2017-02-10 21:41:12Z THE BUCKINGHAM STAN WATERHOUSE 12720 HILLCREST RD 106 DALLAS TX 75230 87208008 0 X HTTP://WWW.BUCKINGHAMHOUSTON.COM/ X 2002 TX TO PROVIDE QUALITY RESIDENTIAL HOUSING FOR SENIOR CITIZENS ALONG WITH PERSONAL SERVICES, ASSISTED LIVING AND NURSING SERVICES. 3 2 334 128 0 0 0 50 21947683 22443951 479779 250930 211662 227118 22639124 22922049 456 1429 0 0 8830039 9433177 0 0 0 15734937 15353616 24565432 24788222 -1926308 -1866173 129211230 245474069 185236839 303452495 -56025609 -57978426 TO PROVIDE QUALITY RESIDENTIAL HOUSING FOR SENIOR CITIZENS ALONG WITH PERSONAL SERVICES, ASSISTED LIVING AND NURSING SERVICES. 0 0 21702448 1429 22671069 NURSING AND RETIREMENT FACILITY WITH SERVICES RANGING FROMINDIVIDUAL RETIREMENT LIVING TO 24-HOUR SKILLED NURSINGCARE. 21702448 1 0 0 0 0 0 0 0 1 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 1 0 0 0 1 X 103 0 1 334 1 0 0 0 0 0 0 0 0 0 0 X 3 2 1 0 1 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 X X MONICA ROMERO 7139793080 8580 WOODWAY HOUSTON TX 77063 X CHARLES BREWER PRESIDENT 2.00 49.00 X X 0 418934 13109 STAN WATERHOUSE SECRETARY/TREASURER 2.00 3.00 X X 0 16000 0 JOE ANDERSON DIRECTOR 2.00 6.00 X 0 16000 0 JULIE FENSKE EXECUTIVE DIRECTOR 40.00 0.00 X 207078 0 12530 DRITAN BEJKO DIRECTOR OF OPERATIONS 40.00 0.00 X 105470 0 7484 CATHERINE SCHEMPF DIRECTOR OF SALES & MARKETING 40.00 0.00 X 194144 0 7855 PHILIP JACOB HEALTH CARE ADMINISTRATOR 40.00 0.00 X 112423 0 282 APRIL DILLON SENIOR LIVING COUNSELOR 40.00 0.00 X 101538 0 5230 720653 450934 46490 5 0 1 0 QCR INC 8477 S SUNCOAST BLVD HOMOSASSA FL 34446 THERAPY SERVICES 1242104 SENIOR QUALITY LIFESTYLES CORP 12720 HILLCREST ROAD STE 106 DALLAS TX 75230 MANAGEMENT SERVICES 900418 GREYSTONE MGMT SERVICES CO 225 E JOHN CARPENTER FWY STE 700 IRVING TX 75062 MANAGEMENT SERVICES 474616 BMAT CONSTRUCTION LLC 13611 COTTAGE ARBOR CT SUGARLAND TX 77498 CONSTRUCTION SERVICES 471859 MAINTENANCE SOURCE INC 9032 SWEETWATER LANE HOUSTON TX 77037 MAINTENANCE SERVICES 457447 14 50 50 RESIDENT SERVICES REVENUE 623000 22443951 22443951 22443951 313234 313234 100744 100744 12143922 51978989 12313473 51972486 -169551 6503 -163048 -163048 MEAL REVENUE 531110 89980 89980 VARIOUS RENTALS 900099 32493 32493 ACCOMODATION 721000 28362 28362 76283 76283 227118 22922049 22671069 0 250930 1429 1429 219608 197647 21961 7400056 6660050 740006 1157727 1041955 115772 655786 590207 65579 876791 876791 21500 19350 2150 35856 32270 3586 83490 75141 8349 1714418 1542976 171442 190282 171254 19028 365749 329174 36575 77707 69936 7771 2184189 1965770 218419 78678 70810 7868 9075 9075 3702730 3332457 370273 3090171 2781154 309017 103904 93514 10390 DINING 1504379 1504379 REPAIRS AND MAINTENANCE 558954 503059 55895 NURSING AND ASSISTED LI 502116 502116 HOUSEKEEPING 130690 130690 122937 87110 35827 24788222 21702448 3085774 0 3095176 4547034 5943401 31599919 2004535 2087273 41295 48154 175425 262130 134077448 26698729 90164978 107378719 25010517 90796620 2775903 8754220 129211230 245474069 3303766 6048776 5090058 5485397 83373271 187633725 620000 7097308 92849744 97187289 185236839 303452495 X -56025609 -57978426 -56025609 -57978426 129211230 245474069 -1866173 -86644 0 X X 0 1 X 1 0 X 3000 1076 1776 0 50 5902 20437257 21607073 21385087 21947683 22443951 107821051 20440257 21608149 21386863 21947683 22444001 107826953 0 0 0 107826953 780136 691545 746607 672088 413978 3304354 780136 691545 746607 672088 413978 3304354 158195 181518 212964 211662 227118 991457 21378588 22481212 22346434 22831433 23085097 112122764 0.96170 0.95980 0.02950 0.03130 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: ADMINISTRATIVE FEES - 2011 AMOUNT: $ 3,603. 2012 AMOUNT: $ 24,957. 2013 AMOUNT: $ 29,000. 2014 AMOUNT: $ 26,356. 2015 AMOUNT: $ 15,100. GUEST RENTAL FEES - 2011 AMOUNT: $ 34,148. 2012 AMOUNT: $ 33,422. 2013 AMOUNT: $ 38,550. 2014 AMOUNT: $ 43,951. 2015 AMOUNT: $ 28,362. MISCELLANEOUS FEES - 2011 AMOUNT: $ 4,939. 2012 AMOUNT: $ 4,029. 2013 AMOUNT: $ 10,667. 2014 AMOUNT: $ 11,681. 2015 AMOUNT: $ 53,536. BEAUTY/BARBER SHOP FEES - 2011 AMOUNT: $ 21,000. 2012 AMOUNT: $ 21,000. 2013 AMOUNT: $ 21,000. 2014 AMOUNT: $ 21,000. 2015 AMOUNT: $ 21,000. OFFICE SPACE FEES - 2011 AMOUNT: $ 9,390. 2012 AMOUNT: $ 8,718. 2013 AMOUNT: $ 6,640. 2014 AMOUNT: $ 5,640. 2015 AMOUNT: $ 5,640. PARKING FEES - 2011 AMOUNT: $ 4,320. 2012 AMOUNT: $ 3,767. 2013 AMOUNT: $ 3,945. 2014 AMOUNT: $ 4,512. 2015 AMOUNT: $ 4,850. EQUIPMENT RENTAL FEES - 2011 AMOUNT: $ 7,531. 2012 AMOUNT: $ 6,594. 2013 AMOUNT: $ 2,457. 2014 AMOUNT: $ 90. 2015 AMOUNT: $ 0. GUEST MEALS FEES - 2011 AMOUNT: $ 60,188. 2012 AMOUNT: $ 69,613. 2013 AMOUNT: $ 85,392. 2014 AMOUNT: $ 88,346. 2015 AMOUNT: $ 89,980. DRY CLEANING LAUNDRY - 2011 AMOUNT: $ 4,872. 2012 AMOUNT: $ 3,240. 2013 AMOUNT: $ 2,692. 2014 AMOUNT: $ 1,527. 2015 AMOUNT: $ 1,083. MAINTENANCE SERVICES - 2011 AMOUNT: $ 5,161. 2012 AMOUNT: $ 3,622. 2013 AMOUNT: $ 10,029. 2014 AMOUNT: $ 6,734. 2015 AMOUNT: $ 6,564. STORAGE FEES - 2011 AMOUNT: $ 3,043. 2012 AMOUNT: $ 2,556. 2013 AMOUNT: $ 2,592. 2014 AMOUNT: $ 1,825. 2015 AMOUNT: $ 1,003. 0 1 X 23689753 23689753 79807647 21030555 58777092 5097123 2991121 2106002 25482925 2677053 22805872 107378719 RESIDENT DEPOSITS 107010 DUE TO SQLC 313989 REFUNDABLE ENTRANCE FEE LIABILITY 96766290 97187289 X 22751915 -86644 -86644 22838559 83490 83490 22922049 24704732 0 24704732 83490 83490 24788222 PART IV, LINE 2B: ESCROW AND CUSTODIAL ARRANGEMENTS THE ORGANIZATION REQUIRES FUTURE RESIDENTS WISHING TO RESERVE SPACE AT THE COMMUNITY TO PAY A DEPOSIT OF THE ADVANCE FEE WHICH WILL BE REQUIRED UPON RESIDENCY. THE AMOUNT OF THE REQUIRED DEPOSIT DEPENDS ON THE CONSTRUCTION PHASE OF THE COMMUNITY. THE AMOUNT OF DEPOSIT REQUIRED FOR PHASE I IS $20,000 OF THE ADVANCE FEE. THE AMOUNT OF DEPOSIT REQUIRED FOR PHASE II IS 10% OF THE ADVANCE FEE. THE DEPOSITS ARE HELD IN AN INTEREST-BEARING ACCOUNT UNTIL RESIDENCY IS ESTABLISHED AT WHICH TIME THE RESIDENT PAYS THE BALANCE OF THE REQUIRED ENTRANCE FEE. THE RESIDENT'S DEPOSIT IS RESTRICTED BY THE TEXAS DEPARTMENT OF INSURANCE UNTIL THE RESIDENT TAKES OCCUPANCY OF AN APARTMENT. PART X, LINE 2: FIN 48 (ASC 740) FOOTNOTE FOLLOWING IS THE TEXT FROM THE FOOTNOTES OF THE ORGANIZATION'S AUDITED FINANCIAL STATEMENTS: THE ORGANIZATION IS A NONPROFIT ORGANIZATION AND IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE IRC. FOR THE YEARS ENDED DECEMBER 31, 2015 AND 2014, THE ORGANIZATION HAD NO MATERIAL UNRELATED BUSINESS INCOME. ACCORDINGLY, NO PROVISION FOR FEDERAL INCOME TAX HAS BEEN MADE IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE ORGANIZATION EVALUATES TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE COURSE OF PREPARING THE ORGANIZATION'S TAX RETURNS TO DETERMINE WHETHER THE TAX POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED BY THE APPLICABLE TAX AUTHORITY. TAX POSITIONS NOT DEEMED TO MEET THE MORE LIKELY THAN NOT THRESHOLD WOULD BE RECORDED AS A TAX BENEFIT OR EXPENSE IN THE CURRENT YEAR. A RECONCILIATION IS NOT PROVIDED HEREIN, AS THE BEGINNING AND ENDING AMOUNTS OF UNRECOGNIZED BENEFITS ARE ZERO, WITH NO INTERIM ADDITIONS, REDUCTIONS, OR SETTLEMENTS. HOWEVER, THE CONCLUSIONS REGARDING ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES WILL BE SUBJECT TO REVIEW AND MAY BE ADJUSTED AT A LATER DATE BASED ON FACTORS INCLUDING, BUT NOT LIMITED TO, ONGOING ANALYSIS OF TAX LAWS, REGULATIONS, AND INTERPRETATIONS THEREOF. THE ORGANIZATION'S INFORMATIONAL RETURNS FILED IN THE U.S. FEDERAL JURISDICTION ARE GENERALLY SUBJECT TO EXAMINATION FOR THREE YEARS AFTER THE LATER OF THE DUE DATE OR DATE OF FILING. AS A RESULT, THE ORGANIZATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS PRIOR TO 2012. 0 0 0 0 0 0 0 0 0 CHARLES BREWER PRESIDENT 0 326934 0 92000 0 0 0 6000 0 7109 0 432043 0 0 JULIE FENSKE EXECUTIVE DIRECTOR 172589 0 34489 0 0 0 2242 0 10288 0 219608 0 0 0 CATHERINE SCHEMPF DIRECTOR OF SALES & MARKETING 194144 0 0 0 0 0 2721 0 5134 0 201999 0 0 0 FORM 990, SCHEDULE J, PART II: COMPENSATION OF THE EXECUTIVE DIRECTOR THE EXECUTIVE DIRECTOR AND OTHER KEY EMPLOYEES ARE PAID THROUGH THE RELATED SUPPORTING ORGANIZATION, SENIOR QUALITY LIFESTYLES CORPORATION (EIN: 36-4502669). HOWEVER, THEIR FORM W-2S ARE ISSUED THROUGH A THIRD-PARTY PROFESSIONAL EMPLOYER ORGANIZATION, AUREON HR, INC. (EIN: 42-1368750). A TARRANT CTY CULTURAL EDUC FACILITIES FIN CORP 043833551 87638RCH8 2007-08-09 71351739 REFUND 2004 BOND ISSUE 0 0 0 B TARRANT CTY CULTURAL EDUC FACILITIES FIN CORP 043833551 87638REB9 2014-10-02 18575000 COMMUNITY EXPANSION - LAND PURCHASE 0 0 0 C TARRANT CTY CULTURAL EDUC FACILITIES FIN CORP 043833551 87638REZ6 2015-08-05 109464270 COMMUNITY EXPANSION AND IMPROVEMENTS 0 0 0 A 7660000 98605285 5138885 49846578 1420979 39361935 2007 0 1 1 1 B 18592207 1062051 128500 371500 17114798 43858 2014 0 0 0 1 C 109508942 5625095 1485625 2105164 9406639 90886418 0 0 0 1 A 0 0 0 0 0 0 0 B 0 1 1 1 0 0 0 1 C 0 1 1 1 0 0 0 1 A 0 0 0 1 0 0 0 0 0 B 0 1 0 0 0 0 0 0 1 C 0 1 0 0 0 0 0 0 1 A 0 B 0 C 0 SCHEDULE K, PART II, LINE 3, COLUMNS A AND B ADDITIONAL PROCEEDS PROCEEDS OF THE ISSUE ON PART II-LINE 3 INCLUDE INVESTMENT PROCEEDS IN ADDITION TO THE SALES PROCEEDS OF THE ISSUE REPORTED IN PART I-COLUMN E. SCHEDULE K, PART V, COLUMNS A AND B PROCEDURES TO UNDERTAKE CORRECTIVE ACTION BUCKINGHAM SENIOR LIVING COMMUNITY, INC. (THE "CORPORATION") WILL CONSIDER ADOPTING SPECIFIC WRITTEN PROCEDURES TO ENSURE TIMELY CORRECTION OF POTENTIAL VIOLATIONS OF FEDERAL TAX REQUIREMENTS RELATED TO ITS BOND ISSUE THROUGH THE USE OF THE VOLUNTARY CLOSING AGREEMENT PROGRAM IF SELF-REMEDIATION IS NOT AVAILABLE UNDER APPLICABLE REGULATIONS. HOWEVER, THE CORPORATION HAS COVENANTED IN ITS MASTER TRUST INDENTURE AND OTHER DOCUMENTS RELATED TO ITS BOND ISSUE TO COMPLY WITH ALL APPLICABLE FEDERAL TAX REQUIREMENTS RELATED TO ITS BOND ISSUE AND THE CORPORATION MAY NOT TAKE CERTAIN ACTIONS, SUCH AS A DISPOSITION OF THE PROJECT OR DEFEASANCE OR REFUNDING OF THE BOND ISSUE, WITHOUT FIRST OBTAINING AN OPINION OF BOND COUNSEL THAT SUCH ACTIONS WILL NOT CAUSE THE BOND ISSUE TO FAIL TO MEET THE FEDERAL TAX REQUIREMENTS APPLICABLE TO THE BOND ISSUE. ADDITIONALLY, THE CORPORATION HAS COVENANTED TO MAINTAIN ALL REQUIRED RECORDS RELATED TO ITS BOND ISSUE FOR FEDERAL TAX COMPLIANCE AND ENGAGES AN EXPERT TO COMPUTE THE CORPORATION'S POTENTIAL REBATE LIABILITY UNDER APPLICABLE ARBITRAGE REBATE REGULATIONS EACH YEAR TO ENSURE TIMELY COMPLIANCE WITH THESE REQUIREMENTS. SCHEDULE K, PART IV, LINE 2C, COLUMN A ARBITRAGE REBATE BASED ON REBATE COMPUTATIONS DATED 7/31/2015 AND 8/31/2016, NO REBATE LIABILITY EXISTS AND REPORTING TO THE IRS IS NOT REQUIRED AT THIS TIME. SCHEDULE K, PART III, LINE 9 AND PART IV, LINE 7, COLUMN A WRITTEN MONITORING PROCEDURES THE ORGANIZATION HAS REPRESENTED THAT IT WILL, AND COVENANTED TO, COMPLY WITH ALL TAX REQUIREMENTS IMPOSED BY THE CODE TO SATISFY SECTIONS 141 AND 145 THROUGH 150 OF THE CODE IN THE TAX CERTIFICATE AND LOAN AGREEMENT RELATED TO THE TAX-EXEMPT BOND ISSUE. OTHER THAN THESE REPRESENTATIONS AND COVENANTS, THE ORGANIZATION HAS NOT ADOPTED POST-ISSUANCE MONITORING PROCEDURES. THE ORGANIZATION REALIZES THAT POST-ISSUANCE MONITORING PROCEDURES ARE AN IMPORTANT TOOL IN THE MANAGEMENT OF ISSUES ARISING AFTER TAX-EXEMPT BONDS ARE ISSUED. WHILE THE ORGANIZATION DOES NOT CURRENTLY HAVE DETAILED WRITTEN PROCEDURES, IT HOWEVER HAS CONSULTANTS, WITH WHOM IT CONSULTS FROM TIME TO TIME ON AN AD HOC BASIS, INCLUDING BOND COUNSEL, TO ENSURE ONGOING COMPLIANCE WITH TAX AND SECURITIES LAWS. IN ADDITION, THE ORGANIZATION IS CONSIDERING ESTABLISHING ADDITIONAL POST-ISSUANCE MONITORING PROCEDURES TO ENSURE CONTINUED COMPLIANCE WITH SECTIONS 141 AND 145 THROUGH 150 OF THE CODE. FORM 990, PAGE 1, SECTION G: GROSS RECEIPTS PER THE IRS FORM INSTRUCTIONS, THE AMOUNT REPORTED IN BOX G FOR GROSS RECEIPTS INCLUDES SALES PROCEEDS OF SECURITIES AND OTHER ASSETS OF $64,122,911. FORM 990, PART V, LINE 2B: EMPLOYEES REPORTED THROUGH OUTSOURCED PROFESSIONAL EMPLOYER ORGANIZATION THE ORGANIZATION DID NOT ISSUE FORM W-2S DIRECTLY. THE INDIVIDUALS THAT COMPRISE THE TOTAL LISTED ON LINE 2(A) ARE CONSIDERED EMPLOYEES OF THE ORGANIZATION FOR THE PURPOSES OF PART V. HOWEVER, THE ORGANIZATION UTILIZES A PROFESSIONAL EMPLOYER ORGANIZATION, AUREON HR, INC. (EIN: 42-1368750), WHICH IS THE EMPLOYER OF RECORD, ISSUES ALL W-2S AND ACTS AS AN OUTSOURCED HUMAN RESOURCES PAYROLL DEPARTMENT FOR THE ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 2 BUSINESS RELATIONSHIPS THE FOLLOWING BOARD MEMBERS MAINTAIN A BUSINESS RELATIONSHIP WITH EACH OTHER DUE TO COMMON PARTICIPATION AS OFFICERS OR DIRECTORS OF VARIOUS OTHER RELATED NOT-FOR-PROFIT ENTITIES BY WHICH ONE OR MORE OF THE INDIVIDUALS IS COMPENSATED: CHARLES B. BREWER STAN WATERHOUSE JOE ANDERSON FORM 990, PART VI, SECTION A, LINE 4 SIGNIFICANT CHANGE TO GOVERNING DOCUMENTS THE BYLAWS FOR WERE AMENDED AND RESTATED DURING THE YEAR TO ALLOW FOR THE APPOINTMENT OF THE PRESIDENT OF EACH COMMUNITY'S RESIDENT COUNCIL AS AN EX-OFFICIO NON-VOTING DIRECTOR OF THE CORPORATION. FORM 990, PART VI, SECTION A, LINE 6 CORPORATE MEMBER SENIOR QUALITY LIFESTYLES CORPORATION ("SQLC") IS THE SOLE MEMBER OF THE ORGANIZATION. SQLC ACTS AS A SUPPORTING ORGANIZATION, PROVIDING OVERSIGHT, DIRECTION, AND GOVERNANCE SUPPORT, AND WILL MAKE GRANTS AND/OR PROVIDE OTHER FORMS OF FINANCIAL ASSISTANCE AS NEEDED. SQLC, AS THE SOLE MEMBER, HAS AUTHORITY TO ELECT BOARD MEMBERS OF THE ORGANIZATION. SQLC, AS THE SOLE MEMBER OF THE ORGANIZATION, HAS ALL OF THE TYPICAL RIGHTS AFFORDED TO A MEMBER OF A TEXAS NONPROFIT CORPORATION, SUCH AS THE RIGHT TO APPROVE ANY AMENDMENTS TO THE ARTICLES OF INCORPORATION OR BYLAWS, AND THE RIGHT TO APPROVE ANY PROPOSED DISSOLUTION OF THE ORGANIZATION. BYLAWS, AND THE RIGHT TO APPROVE ANY PROPOSED DISSOLUTION OF THE ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7A SEE PART VI, SECTION A, LINE 6 FOR EXPLANATION. FORM 990, PART VI, SECTION A, LINE 7B SEE PART VI, SECTION A, LINE 6 FOR EXPLANATION. FORM 990, PART VI, SECTION A, LINE 8B DOCUMENTATION OF COMMITTEES LINE 8B IS ANSWERED NO BECAUSE THERE ARE NO COMMITTEES IN PLACE WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY AT THIS TIME. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 REVIEW PROCESS THE BOARD MEMBERS OF BUCKINGHAM SENIOR LIVING COMMUNITY, INC., SENIOR QUALITY LIFESTYLES CORPORATION AND GREYSTONE COMMUNITIES, THE MANAGEMENT COMPANY, REVIEW THE FORM 990 UPON COMPLETION. THE BOARD REVIEW AND APPROVAL OF THE FORM 990 IS COMPLETED PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY ENFORCEMENT AND MONITORING ANNUALLY THE CONFLICT OF INTEREST POLICY IS REVIEWED DURING A BOARD MEETING, IN ADDITION TO HAVING THE NECESSARY INDIVIDUALS SIGN THE DISCLOSURE STATEMENT ON AN ANNUAL BASIS. IT IS THE EXPECTATION THAT MANAGEMENT STAFF (COMMUNITY AND CORPORATE) IN ADDITION TO THE MANAGEMENT COMPANY WILL BRING ANY QUESTIONABLE ACTIVITY TO THE ATTENTION OF THE BOARD OR AN OFFICER. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION REVIEW OF MANAGEMENT THE CEO OF SENIOR QUALITY LIFESTYLES CORPORATION, ALONG WITH THE MANAGEMENT COMPANY, GREYSTONE, AND AUREON, AN INDEPENDENT PAYROLL PROCESSOR, SET THE SALARY FOR THE EXECUTIVE DIRECTOR. BOTH GREYSTONE AND AUREON PROVIDE COMPARATIVE SALARY DATA. THE EXECUTIVE DIRECTOR, GREYSTONE REGIONALS, AND AUREON SET OTHER TOP MANAGEMENT RATES BASED ON MARKET WAGES AND YEARS OF EXPERIENCE. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS AVAILABLE TO PUBLIC THE FINANCIAL STATEMENTS ARE POSTED TO NATIONALLY RECOGNIZED ELECTRONIC MUNICIPAL MARKET ACCESS (EMMA) AND ALSO MADE AVAILABLE IN THE LIBRARY OF THE COMMUNITY FOR VIEWING BY RESIDENTS OR AVAILABLE UPON REQUEST BY PROSPECTIVE RESIDENTS. THE 990 IS ALSO MADE AVAILABLE IN THE LIBRARY OF THE COMMUNITY AND ALSO BY REQUEST. ANY ADDITIONAL GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION A, LINE 3: MANAGEMENT COMPANY GREYSTONE MANAGEMENT IS AN UNRELATED BUSINESS ORGANIZATION ENGAGED BY THE BOARD OF DIRECTORS OF BUCKINGHAM SENIOR LIVING COMMUNITY, INC. TO PROVIDE MANAGEMENT SERVICES. MANAGEMENT DUTIES INCLUDE HIRING AND RECRUITING QUALIFIED PERSONNEL, PREPARING ANNUAL OPERATING BUDGET FOR SUBMISSION TO THE BOARD OF DIRECTORS, AND ASSISTING IN THE PREPARATION OF MONTHLY AND ANNUAL FINANCIAL REPORTING DISCLOSURES. THE BOARD OF DIRECTORS HAVE FINAL AUTHORITY OVER THE APPROVAL OF THE ANNUAL OPERATING BUDGET, APPROVAL OF MONTHLY AND ANNUAL FINANCIAL REPORTING DISCLOSURES, AND OVERSIGHT OF THE MANAGEMENT COMPANY. FORM 990, PART VII: TOP MANAGEMENT AND FINANCIAL OFFICIAL THE EXECUTIVE DIRECTOR IS THE TOP MANAGEMENT OFFICIAL AND TOP FINANCIAL OFFICIAL. PER THE FORM INSTRUCTIONS, THE TOP MANAGEMENT AND FINANCIAL OFFICIALS ARE DEEMED TO BE OFFICERS. FORM 990 BENEVOLENT CARE THE ORGANIZATION PROVIDES CARE TO RESIDENTS WHO MEET CERTAIN CRITERIA UNDER ITS BENEVOLENT CARE POLICY WITHOUT CHARGE OR AT AMOUNTS LESS THAN ITS ESTABLISHED RATES. BECAUSE THE ORGANIZATION DOES NOT PURSUE COLLECTION OF AMOUNTS DETERMINED TO QUALIFY AS BENEVOLENT CARE, THEY ARE NOT REPORTED AS REVENUE. SUCH RESIDENTS ARE IDENTIFIED BASED ON FINANCIAL INFORMATION OBTAINED FROM THE RESIDENT AND SUBSEQUENT ANALYSES. 2015 ADOPTED ACCOUNTING PRONOUNCEMENT DISCLOSURE IN APRIL 2015, THE FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") ISSUED ACCOUNTING STANDARDS UPDATE ("ASU") INTEREST - IMPUTATION OF INTEREST ("ASU 2015-03"). ASU 2015-03 REQUIRES THAT DEBT ISSUANCE COSTS RELATED TO A RECOGNIZED DEBT LIABILITY BE PRESENTED IN THE BALANCE SHEET AS A DIRECT DEDUCTION FROM THE CARRYING AMOUNT OF THAT DEBT LIABILITY, CONSISTENT WITH DEBT DISCOUNTS. THE RECOGNITION AND MEASUREMENT GUIDANCE FOR DEBT ISSUANCE COSTS ARE NOT AFFECTED BY THE AMENDMENTS IN ASU 2015-03. THE AMENDMENTS IN ASU 2015-03 ARE EFFECTIVE FOR FISCAL PERIODS BEGINNING AFTER DECEMBER 15, 2015 AND MAY BE ADOPTED EARLIER. THE ORGANIZATION ADOPTED ASU 2015-03 ON JANUARY 1, 2015. THE ORGANIZATION'S ADOPTION OF ASU NO. 2015-03 RESULTED IN THE RECLASSIFICATION OF BOND ISSUANCE COSTS AS AN ASSET TO A DIRECT DEDUCTION FROM THE RELATED BOND PAYABLE. THE EFFECT OF THE ADOPTION OF ASU NO. 2015-03 WAS A REDUCTION OF INTANGIBLE ASSETS AND NOTES PAYABLE OF $3,716,255 AT DECEMBER 31, 2015. THE ADOPTION OF ASU NO. 2015-03 ALSO CAUSED A DECREASE IN AMORTIZATION OF BOND ISSUANCE COSTS AND A RELATED INCREASE IN INTEREST EXPENSE OF $137,029 FOR THE YEARS ENDED DECEMBER 31, 2015. THE ADOPTION OF ASU 2015-03 DID NOT RESULT IN A CHANGE TO NET DEFICIT FOR 2015. NORTHWEST SENIOR HOUSING CORPORATION 12720 HILLCREST ROAD STE 106 DALLAS TX 75230 752771278 HEALTH CARE TX 501(C)(3) LINE 9 SQLC 0 BARTON CREEK SENIOR LIVING COMMUNITY INC 12720 HILLCREST ROAD STE 106 DALLAS TX 75230 201203479 HEALTH CARE TX 501(C)(3) LINE 9 SQLC 0 SENIOR QUALITY LIFESTYLES CORP (SQLC) 12720 HILLCREST ROAD STE 106 DALLAS TX 75230 364502669 HEALTH CARE TX 501(C)(3) LINE 11B, II N/A 0 SQLC SENIOR LIVING CTR AT CORPUS CHRISTI 12720 HILLCREST ROAD STE 106 DALLAS TX 75230 261778912 HEALTH CARE TX 501(C)(3) LINE 9 SQLC 0 TARRANT COUNTY SENIOR LIVING CENTER INC 12720 HILLCREST ROAD STE 106 DALLAS TX 75230 208068602 HEALTH CARE TX 501(C)(3) LINE 9 SQLC 0 SQLC CHARITABLE FOUNDATION 12720 HILLCREST ROAD STE 106 DALLAS TX 75230 262474373 FOUNDATION TX 501(C)(3) LINE 7 SQLC 0 MAYFLOWER COMMUNITIES INC 12720 HILLCREST ROAD STE 106 DALLAS TX 75230 261446350 HEALTH CARE DE 501(C)(3) LINE 9 SQLC 0 SENTINEL RIDGE SENIOR LIVING CORPORATION 12720 HILLCREST ROAD SUITE 106 DALLAS TX 75230 472871995 INACTIVE TX SQLC C 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 1 1 1 1 NA