2025-10-21T15:34:13-05:00 2024-12-31 420714325 RSM US LLP 9801 WASHINGTONIAN BLVD STE 500 GAITHERSBURG MD 20878 990 2024-01-01 522324152 ANN'S CHOICE INC ANNS 2156722900 10000 ANNS CHOICE WAY WARMINSTER PA 18974 EILEEN ERSTAD TREASURER 2156722900 2025-10-17 1 1 JULIA FLANNERY P00928918 3012963600 2025-10-17 2024 2025-03-06 01:10:19Z BARBARA BISGAIER 10000 ANNS CHOICE WAY WARMINSTER PA 18974 94749479 0 X WWW.NATIONALSENIORCOMMUNITIES.ORG X 2001 PA PROVIDE A HOME FOR SENIORS THAT SATISFIES THEIR THREE PRIMARY NEEDS. 13 9 1364 681 0 0 2170097 1320881 87495488 92235695 656466 858610 256627 313231 90578678 94728417 228602 236559 0 0 38227567 41351776 0 0 172369 53191066 54977250 91647235 96565585 -1068557 -1837168 402798867 424758841 502246178 519183231 -99447311 -94424390 X MISSION STATEMENT - HOME IS BELONGING, PEACE OF MIND, LOVE AND ACCEPTANCE. WELCOME HOME!VISION STATEMENT - ANN'S CHOICE, INC. CELEBRATES AGING! GROUNDED IN INCLUSION, INNOVATION AND ADVOCACY, WE CREATE UNPARALLELED VALUE AND OPPORTUNITIES FOR EVERY LIFE WE TOUCH. AS PART OF THE NATIONAL SENIOR COMMUNITIES ENTERPRISE, WE LEVERAGE OUR STRONG FINANCIAL FOUNDATION AND GOVERNANCE FOR THE BENEFIT OF SENIORS AND THOSE WHO SUPPORT THEM. 0 0 80800337 236559 92235695 ANN'S CHOICE PROVIDES SERVICES NEEDED BY SENIOR RESIDENTS, WHO RESIDE IN 1,465 INDEPENDENT LIVING UNITS, 82 ASSISTED LIVING UNITS, 66 SKILLED NURSING BEDS, AND 44 MEMORY CARE UNITS. THE SERVICES WE PROVIDE TO OUR RESIDENTS INCLUDE, BUT ARE NOT LIMITED TO HOUSING, FOOD, MEDICAL, SECURITY AND MAINTENANCE SERVICES, RECREATIONAL AND PASTORAL ACTIVITIES. 80800337 1 1 0 0 0 0 0 0 1 0 1 1 0 0 1 1 1 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 0 0 0 1 0 0 0 1 63 0 1 1364 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 13 9 0 1 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X X SAMANTHA WHIRLEY 4102422880 701 MAIDEN CHOICE LANE BALTIMORE MD 21228 X BARBARA C BISGAIER CHAIR & PRESIDENT 0.60 8.30 X X 0 110000 0 STEPHANIE L REEL DIRECTOR/VC & VP (THRU 3/31/24) 0.10 13.90 X X 0 150000 0 MARY D COLINS SECRETARY 0.10 12.00 X X 0 150000 0 EILEEN G ERSTAD TREASURER 0.10 21.20 X X 0 140000 0 PATRICIA M BROWN DIRECTOR 0.10 8.90 X 0 90000 0 IAN BROWN DIRECTOR 0.10 7.80 X 0 80000 0 KATHERINE CLUPPER VICE CHAIR & VP (BEG 4/1/24) 0.50 6.50 X X 0 65000 0 REV DR ZINA JACQUE DIRECTOR 0.10 13.00 X 0 172500 0 MONTY C LEONARD DIRECTOR 0.10 10.30 X 0 90000 0 MARY MOSCATO DIRECTOR (BEG 4/1/24) 0.10 7.20 X 0 65000 0 PAMELA D PAULK DIRECTOR 0.10 8.80 X 0 90000 0 MICHAEL W ROSKIEWICZ DIRECTOR 0.10 15.30 X 0 135000 0 RUSSELL SHARP DIRECTOR 0.10 8.90 X 0 80000 0 CHRIS RATHMANN ASSISTANT TREASURER (THRU 3/31/24) 1.00 15.00 X 0 0 0 PAMELA STINER ASSISTANT TREASURER (BEG 4/1/24) 1.00 18.00 X 0 0 0 JOHN HALL ASSISTANT TREASURER 1.00 18.00 X 0 0 0 MARK EMBLEY ASSISTANT TREASURER 1.00 18.00 X 0 0 0 NEAL GANTERT ASSISTANT TREASURER 1.00 18.00 X 0 0 0 SCOTT SAWICKI ASSISTANT SECRETARY (BEG 4/1/24) 0.30 45.40 X 0 307034 37698 CHRISTOPHER DONATI EXECUTIVE DIRECTOR 40.00 X 239881 0 27500 THOMAS WALSH DIRECTOR, FINANCE 40.00 X 181857 0 7454 LISA SICILIA PLANNING AND MOVING CONSUL 40.00 X 145426 0 3129 SANDRA RIVERA NURSE PRACTITIONER, EH&WB 40.00 X 144632 0 6223 TIFFANY CRUZ DIRECTOR, NURSING 40.00 X 144168 0 9954 GINA JONES REGISTERED NURSE 40.00 X 139531 0 7110 JENNIFER KUEHL MANAGER, REHABILITATION 40.00 X 132355 0 14301 1127850 1724534 113369 30 0 1 0 ERICKSON SENIOR LIVING LLC 701 MAIDEN CHOICE LAND BALTIMORE MD 21228 MANAGEMENT - SEE SCH. O 12448083 MPK SOLUTIONS 26 TEABERRY LANE NEWTOWN PA 18940 CONTRACTOR 2089244 SOUTH COAST IMPROVEMENT COMPANY 13 MARCONI LN MARION MA 02738 CONTRACTOR 1025704 STEPHEN WILLIAMS FLOORING INC 325 SURREY LANE HATBORO PA 19040 FLOORING 900504 PIC RITE MANAGEMENT & CONSULTING INC 234 W BROAD ST C HATFIELD PA 19440 CONSULTING 812725 26 6160 2725 1311996 10102 1320881 RESIDENT FEES 623000 83183375 83183375 ANCILLARY FEES 623000 6958488 6958488 RESIDENT DEPOSITS 623000 2079448 2079448 OTHER PROGRAM REVENUE 623000 14384 14384 92235695 728585 728585 287938 0 287938 287938 287938 25376 104649 0 0 25376 104649 130025 130025 46355 6160 21062 25293 25293 94728417 92235695 0 1171841 6389 6389 230170 230170 456692 456692 33183036 28431529 4623392 128115 560778 445020 111924 3834 4706842 3822381 870324 14137 2444428 2076783 357992 9653 3956168 3956168 51518 1254 50264 29825 29825 12149 12149 8605022 940652 7664370 3603339 3603339 9248808 8277170 962680 8958 5529947 5527965 1982 120839 59699 60531 609 2962527 2962527 16227780 16227780 1356083 1356083 EQUIPMENT RENTAL 2112160 1986593 125552 15 CHARITY CARE 664952 664952 RESIDENT RELATIONS 496133 223883 265202 7048 96565585 80800337 15592879 172369 2050 2240 32717283 35707193 3067316 2666572 6547400 5613800 180951 207337 385666 193857 449798256 174858316 284526832 274939940 4314725 5292608 70957285 99667263 99359 468031 402798867 424758841 7153030 6944068 91707608 89374160 996599 1357400 254321 311357 402134620 421196246 502246178 519183231 X -102284174 -97378778 2836863 2954388 -99447311 -94424390 402798867 424758841 X -1837168 21738 6838351 X 0 1 X 1 0 X 2539283 2890238 2218738 2170097 1320881 11139237 76729719 75741483 79327036 87521461 92282050 411601749 79269002 78631721 81545774 89691558 93602931 422740986 105000 284000 190254 316362 175000 1070616 0 105000 284000 190254 316362 175000 1070616 421670370 368436 278083 527034 779704 1016523 2969780 368436 278083 527034 779704 1016523 2969780 1707 1707 79637438 78909804 82074515 90471262 94619454 425712473 0.99050 0.99130 0.00700 0.00620 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 20872393 20872393 413393318 165255269 248138049 11870181 8028403 3841778 3662364 1574644 2087720 274939940 BENEFICIAL INTEREST IN COMERICA LEGACY FOUNDATION 4790 F BENEFICIAL INTEREST IN NATIONAL CCRC BUSINESS TRUST I 96130755 F FIXED INCOME SECURITIES 3531718 F 99667263 RESIDENT DEPOSITS (NET) 407525819 CLAIMS RESERVE 1170494 FUNDS HELD FOR RESIDENTS 127876 RESIDENT REFUNDS PAYABLE 12174249 DEFERRED MANAGEMENT FEE 197808 421196246 X 101581057 21738 6859413 6881151 94699906 12149 16362 28511 94728417 96558136 21062 21062 96537074 12149 16362 28511 96565585 PART IV, LINE 2B: PROSPECTIVE RESIDENTS ARE REQUIRED TO MAKE CERTAIN INSTALLMENT PAYMENTS PRIOR TO THE FINAL SETTLEMENT OF THE GIVEN UNIT. THOSE ADVANCE DEPOSITS ARE REPORTED ON FORM 990, PART X, LINE 21. PART X, LINE 2: ANN'S CHOICE ("ACH") IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND THE APPLICABLE STATE INCOME TAX REGULATIONS. MANAGEMENT HAS EVALUATED ACH'S TAX POSITIONS AND HAS CONCLUDED THAT ACH HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: EXPENSES FROM SPECIAL FUNDRAISING EVENTS NETTED ON FORM 990 21,062. CHANGE IN BENEFICIAL INTEREST IN NATIONAL CCRC BUSINESS TRUST 1 6,684,616. UNREALIZED LOSS ON INTEREST SWAP -31,910. CHANGE IN RESTRICTED NET INVESTMENT RETURN 185,645. PART XI, LINE 4B - OTHER ADJUSTMENTS: ADJUSTMENT TO NET ASSETS WITH DONOR RESTRICTIONS 16,362. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES FROM SPECIAL FUNDRAISING EVENTS NETTED ON FORM 990 21,062. PART XII, LINE 4B - OTHER ADJUSTMENTS: ADJUSTMENT TO NET ASSETS WITH DONOR RESTRICTIONS 16,362. GOLF OUTING 38415 6160 32255 650 19017 445 DUELING PIANOS 14100 14100 750 200 52515 6160 46355 650 19017 750 645 21062 25293 1 EDUCATIONAL SCHOLARSHIPS - SEE PART IV 90 230170 SCHEDULE I, PART I, LINE 2: THE SCHOLAR'S FUND IS A RESIDENT RUN AND FUNDED PROGRAM TO PROVIDE FINANCIAL SUPPORT AND RECOGNITION TO STUDENTS SEEKING TO CONTINUE THEIR EDUCATION WHO HAVE DEMONSTRATED A STRONG PERSONAL COMMITMENT TO SERVING OUR SENIOR POPULATION. STUDENT SCHOLAR CANDIDATES ARE REQUIRED TO BE EMPLOYEES IN GOOD STANDING. TO BE ELIGIBLE, A STUDENT MUST MEET A MINIMUM STANDARD OF HOURS WORKED, ACHIEVE CERTAIN LEVELS OF ACADEMIC SUCCESS, MAINTAIN A MINIMUM NUMBER OF CREDIT HOURS OF ENROLLMENT AND COMPLETION OF COURSEWORK. ELIGIBLE COSTS ARE REVIEWED AND VERIFIED BEFORE PAYMENTS ARE MADE FROM THE FUND FOR SUBSEQUENT SEMESTERS OR TERMS OF ENROLLMENT. THE STUDENT SCHOLAR CANDIDATES MUST MAINTAIN "GOOD STANDING" THROUGHOUT THEIR PARTICIPATION IN THE SCHOLARSHIP APPLICATION AND AWARD PROGRAM, AS DEFINED FOR EMPLOYEES IN THE EMPLOYMENT POLICIES AND PROCEDURES DOCUMENTS. DUE DATES FOR DOCUMENT SUBMISSION AND EVALUATION MUST BE ADHERED TO, TO ASSURE QUALIFICATION FOR THE INITIAL AWARD AND SUBSEQUENT SEMESTERS. GAPS IN ENROLLMENT BEYOND TWO SEMESTERS REQUIRE SPECIAL APPROVAL. THE PROGRAM REQUIRES ENROLLMENT AT RECOGNIZED TRADE SCHOOLS, COLLEGES OR UNIVERSITIES AFTER HIGH SCHOOL. A MAXIMUM AWARD LEVEL EACH SEMESTER AND THROUGHOUT THE POST-HIGH SCHOOL EDUCATION FOR EACH STUDENT IS IN PLACE SUBJECT TO AVAILABLE FUNDS IN THE PROGRAM. X X X 0 0 0 0 0 0 0 1 0 SCOTT SAWICKI ASSISTANT SECRETARY (BEG 4/1/24) 0 256472 0 50562 0 0 0 25180 0 12518 0 344732 0 0 CHRISTOPHER DONATI EXECUTIVE DIRECTOR 205753 0 28000 0 6128 0 9569 0 17931 0 267381 0 0 0 THOMAS WALSH DIRECTOR, FINANCE 162548 0 18000 0 1309 0 5546 0 1908 0 189311 0 0 0 REV DR ZINA JACQUE DIRECTOR 0 172500 0 0 0 0 0 0 0 0 0 172500 0 0 TIFFANY CRUZ DIRECTOR, NURSING 138051 0 5800 0 317 0 0 0 9954 0 154122 0 0 0 SANDRA RIVERA NURSE PRACTITIONER, EH&WB 134851 0 8200 0 1581 0 4169 0 2054 0 150855 0 0 0 PART I, LINE 7 THE EMPLOYEES LISTED ON FORM 990, PART VII, SECTION A, LINE 1A RECEIVED A DISCRETIONARY BONUS DURING THE YEAR. SCHEDULE J, PART II CHRISTOPHER DONATI AND THOMAS WALSH ARE LISTED IN SCHEDULE J, PART II AND ARE EMPLOYEES OF ERICKSON SENIOR LIVING ("ESL"), AN UNRELATED ORGANIZATION TO ANN'S CHOICE, INC., IN ACCORDANCE WITH THE MANAGEMENT AGREEMENT BETWEEN ANN'S CHOICE, INC. AND ESL. SEE SCHEDULE O EXPLANATION FOR FORM 990, PART VI, SECTION A, LINE 3. THEREFORE, FOR IRS MATCHING PURPOSES, ESL IS THE ISSUER OF THE FORM W-2. UNDER THE MANAGEMENT AGREEMENT, ANN'S CHOICE, INC. REIMBURSES ESL FOR THE COST OF SERVICES PERFORMED FOR ANN'S CHOICE, INC. A VA SMALL BUSINESS FINANCING AUTHORITY 541300845 2020-10-15 96842780 REFUND OF PRIOR ISSUE 0 0 1 A 3919357 96842780 908692 95934088 2018 1 0 1 1 A 0 1 1 1 0 0 0 1 A 0 1 0 0 1 0 0 0 1 A 1 PART I, LINE A, COLUMN (C): CUSIP #'S 928104NC8, 928104ND6 PART II, LINE 3, COLUMN (A): THE AMOUNT SHOWN REPRESENTS THE SHARE OF BOND PROCEEDS ALLOCABLE TO THE ORGANIZATION FROM THE $381,030,000 VIRGINIA SMALL BUSINESS FINANCING AUTHORITY SERIES 2020A, THE PROCEEDS OF WHICH WERE ALLOCABLE TO THE ORGANIZATION AND CERTAIN OF ITS AFFILIATES. PART III, COLUMN A, LINES 4 & 6: THE PERCENTAGE IS LESS THAN 3%. FORM 990, PART VI, SECTION A, LINE 1A IF THERE ARE MATERIAL DIFFERENCES IN VOTING RIGHTS AMONG MEMBERS OF THE GOVERNING BODY, OR IF THE GOVERNING BODY DELEGATED BROAD AUTHORITY TO AN EXECUTIVE COMMITTEE OR SIMILAR COMMITTEE, EXPLAIN IN SCHEDULE O. UNDER THE BYLAWS OF THE ORGANIZATION, THE BOARD HAS DELEGATED AUTHORITY TO AN EXECUTIVE COMMITTEE COMPRISED OF THE ORGANIZATION'S CHAIR, VICE CHAIRS, PRESIDENT, SECRETARY AND TREASURER. THE EXECUTIVE COMMITTEE HAS AND MAY EXERCISE ALL OF THE POWERS AND AUTHORITY OF THE BOARD IN THE MANAGEMENT OF THE BUSINESS AND AFFAIRS OF THE ORGANIZATION EXCEPT FOR THOSE ACTIONS RESERVED SOLELY TO THE MEMBER OR THE DIRECTORS UNDER THE GENERAL LAWS OF THE COMMONWEALTH OF PENNSYLVANIA. FORM 990, PART VI, SECTION A, LINE 1B: ENTER THE NUMBER OF VOTING MEMBERS INCLUDED ON LINE 1A, ABOVE, WHO ARE INDEPENDENT. THE BOARD MEMBERS THAT ARE DEEMED NOT INDEPENDENT ON THE FORM 990 ARE THOSE INDIVIDUALS WHO RECEIVE COMPENSATION AS AN OFFICER OR OTHER EMPLOYEE FROM THE ORGANIZATION OR FROM A RELATED ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 3 DID THE ORGANIZATION DELEGATE CONTROL OVER MANAGEMENT DUTIES CUSTOMARILY PERFORMED BY OR UNDER THE DIRECT SUPERVISION OF OFFICERS, DIRECTORS, OR TRUSTEES, OR KEY EMPLOYEES TO A MANAGEMENT COMPANY OR OTHER PERSON? ANN'S CHOICE, INC. ENTERED INTO A NEW MANAGEMENT AND MARKETING AGREEMENT TO REPLACE THE EXISTING AMENDED & RESTATED MANAGEMENT AND MARKETING AGREEMENT ALREADY IN EFFECT WITH ERICKSON SENIOR LIVING, LLC ("ESL"). THE AGREEMENT WAS EFFECTIVE AS OF APRIL 30, 2024. THE EXISTING MANAGEMENT AND MARKETING AGREEMENT HAS BEEN AMENDED TO CLARIFY CERTAIN MATTERS. ESL IS A MARYLAND LIMITED LIABILITY COMPANY WHICH MANAGES LARGE SCALE CONTINUING CARE RETIREMENT COMMUNITIES. TAX-EXEMPT BONDS HAVE BEEN ISSUED FOR THE BENEFIT OF THE ORGANIZATION, AND THE MANAGEMENT AGREEMENT COMPLIES WITH REV. PROC. 2017-13. THE FOLLOWING OFFICERS ARE LISTED IN PART VII, AS NON-COMPENSATED OFFICERS OF THE FILING ORGANIZATION, JOHN HALL, CHRIS RATHMANN (THRU 3/31/24), PAMELA STINER (BEG 4/1/24), NEAL GANTERT, AND MARK EMBLEY. THEIR DUTIES ARE CONSIDERED PERFORMED PRO BONO. CHRISTOPHER DONATI, EXECUTIVE DIRECTOR AND THOMAS WALSH, DIRECTOR, FINANCE, ARE LEASED EMPLOYEES FROM THE MANAGEMENT COMPANY. THE FILING ORGANIZATION REIMBURSES THE MANAGEMENT COMPANY FOR THEIR COMPENSATION WHICH IS REPORTED ON FORM 990, PART VII, SECTION A. FORM 990, PART VI, SECTION A, LINE 6 DID THE ORGANIZATION HAVE MEMBERS OR STOCKHOLDERS? ANN'S CHOICE, INC.'S SOLE MEMBER IS NATIONAL SENIOR COMMUNITIES, INC. ("NSC"). NSC IS A MARYLAND NON-STOCK CORPORATION. NSC IS A "SUPPORTING ORGANIZATION" WITH RESPECT TO ANN'S CHOICE, AS WELL AS CERTAIN OTHER ORGANIZATIONS SPECIFIED IN ITS GOVERNING DOCUMENTS. AS REQUIRED BY THE REGULATIONS RELATING TO "SUPPORTING ORGANIZATIONS," CERTAIN MEMBERS OF THE BOARD OF DIRECTORS OF NSC WILL ALSO BE MEMBERS OF THE BOARD OF DIRECTORS OF THE ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7A DID THE ORGANIZATION HAVE MEMBERS, STOCKHOLDERS, OR OTHER PERSONS WHO HAD THE POWER TO ELECT OR APPOINT ONE OR MORE MEMBERS OF THE GOVERNING BODY? THE BOARD OF DIRECTORS MAY NOMINATE A SLATE OF CANDIDATES FOR CONSIDERATION BY THE MEMBER, BUT THE MEMBER HAS SOLE DISCRETION TO ELECT DIRECTORS WHETHER OR NOT NOMINATED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B ARE ANY GOVERNANCE DECISIONS OF THE ORGANIZATION RESERVED TO (OR SUBJECT TO APPROVAL BY) MEMBERS, STOCKHOLDERS, OR PERSONS OTHER THAN THE GOVERNING BODY? CERTAIN EXTRAORDINARY ACTIONS OF THE CORPORATION REQUIRE THE APPROVAL OF THE MEMBER UNDER APPLICABLE STATE LAW. UNDER THE ORGANIZATION'S BYLAWS, CERTAIN GOVERNANCE DECISIONS ARE MADE BY THE BOARD WITH THE CONSENT OF THE MEMBER AS SHARED POWERS AND CERTAIN GOVERNANCE DECISIONS ARE RESERVED TO THE MEMBER. SHARED POWERS INCLUDE AMENDMENTS TO ANY OF THE COMMUNITY DOCUMENTS (EXCEPT WHERE IT INVOLVES A RESERVED POWER), APPROVAL OF ALL CONTRACTS WITH OR PAYMENTS TO THE MEMBER OR OTHER RELATED ENTITIES (OTHER THAN GOVERNANCE COSTS OF THE MEMBER), AUTHORIZING THE FILING OF ANY BANKRUPTCY, CHANGES TO SHARED POWERS, A SIGNIFICANT EXPANSION OR NEW LINE OF BUSINESS JUST INVOLVING THE ORGANIZATION, AND SELECTION OF THE MANAGEMENT COMPANY. RESERVED POWERS OF THE MEMBER INCLUDE: APPROVAL OF POLICIES AFFECTING MORE THAN ONE COMMUNITY; SPONSORSHIP OF A NEW COMMUNITY; PAYMENT OF REASONABLE AMOUNTS TO COVER THE MEMBER'S OPERATING COSTS; THE EXECUTION OF JOINT PURCHASE CONTRACTS OR SIMILAR AGREEMENTS ALONG WITH AFFILIATE(S); THE DISPOSITION OR PLEDGE OF ALL OR SUBSTANTIALLY ALL OF THE ORGANIZATION'S ASSETS (OTHER THAN A PLEDGE IN CONNECTION WITH AN ASSET OR FINANCING TRANSACTION); COMPENSATION OF OFFICERS, DIRECTORS AND ADVISORY COMMITTEE MEMBERS; AND APPROVAL OF CONTRACTS, AMENDMENTS, ETC. AFFECTING THE ORGANIZATION AND ONE OR MORE RELATED ENTITIES OR THE RESIDENTS OF THEIR COMMUNITIES. FORM 990, PART VI, SECTION B, LINE 11B HAS THE ORGANIZATION PROVIDED A COMPLETE COPY OF THIS FORM 990 TO ALL MEMBERS OF ITS GOVERNING BODY BEFORE FILING THE FORM? THE CHAIR OF THE AUDIT, INVESTMENT, AND TREASURY COMMITTEE APPOINTS THE REVIEWER OF THE FORM 990. ONCE THAT REVIEW IS COMPLETE, THE FULL BOARD IS GIVEN THE OPPORTUNITY TO REVIEW THE FINAL VERSION OF FORM 990 BEFORE IT IS FILED AND ASK QUESTIONS OF THE REVIEWER REGARDING THE FORM. FORM 990, PART VI, SECTION B, LINE 12C DID THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITOR AND ENFORCE COMPLIANCE WITH THE POLICY? ALL DIRECTORS, OFFICERS, KEY EMPLOYEES, EMPLOYEES AND VOLUNTEERS IN A POSITION TO EXERCISE SUBSTANTIAL INFLUENCE OVER ANN'S CHOICE, INC.'S AFFAIRS, COMMITTEE MEMBERS, PROSPECTIVE DIRECTORS, AND SENIOR STAFF PROVIDING SERVICES TO THE ORGANIZATION UNDER A MANAGEMENT AGREEMENT COMPLETE A CONFLICT OF INTEREST DISCLOSURE STATEMENT ANNUALLY AND AS POTENTIAL CONFLICTS ARISE DURING THE YEAR. THE DIRECTOR CONFLICT OF INTEREST STATEMENTS ARE REVIEWED BY THE BOARD CHAIR. IF THE CONFLICT INVOLVES A COVERED EMPLOYEE, THE CHAIR DETERMINES WHETHER A CONFLICT EXISTS AND, IF SO, HOW IT IS TO BE HANDLED, OR THE CHAIR MAY REFER THE MATTER TO THE BOARD OF DIRECTORS FOR CONSIDERATION. FOR ALL OTHER CONFLICTS, THE BOARD OF DIRECTORS OR A COMMITTEE OF DISINTERESTED DIRECTORS WILL DETERMINE WHETHER A CONFLICT ACTUALLY EXISTS. A COVERED PERSON MAY NOT PARTICIPATE IN ANY DISCUSSION OR DEBATE BY THE BOARD BUT MAY ANSWER QUESTIONS OR PROVIDE CLARIFYING INFORMATION UNLESS ANY BOARD MEMBER OBJECTS. FORM 990, PART VI, SECTION B, LINE 15 DID THE PROCESS FOR DETERMINING COMPENSATION OF THE ORGANIZATION'S CEO, EXECUTIVE DIRECTOR, OR TOP MANAGEMENT OFFICIAL, OR OTHER OFFICERS OR KEY EMPLOYEES, INCLUDE A REVIEW AND APPROVAL BY INDEPENDENT PERSONS, COMPARABILITY DATA, AND CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION? THE BOARD HAS APPROVED A DIRECTORS' COMPENSATION POLICY WHICH ESTABLISHES THE PROCESS BY WHICH ALL DIRECTOR COMPENSATION IS DETERMINED. AN INDEPENDENT COMPENSATION CONSULTANT IS PERIODICALLY RETAINED TO PERFORM AN ANALYSIS OF ANN'S CHOICE, INC.'S COMPENSATION USING COMPARABLES OF BOTH FOR-PROFIT AND NON-PROFIT PEERS. A COMMITTEE OF THE NSC BOARD REVIEWS THE CONSULTANT'S REPORT AND MAKES A RECOMMENDATION TO THE ORGANIZATION AS TO APPROPRIATE COMPENSATION OF DIRECTORS. THE COMMITTEE OF THE NSC BOARD HAS ACCESS TO THE CONSULTANT'S REPORT AND AN OPPORTUNITY TO QUESTION THE CONSULTANT ABOUT THE PROCESS, METRICS, AND COMPARABLES THAT WERE USED IN DETERMINING THE RECOMMENDED COMPENSATION. THE BOARD THEN VOTES ON THE COMPENSATION RECOMMENDATIONS AND A CONTEMPORANEOUS RECORD IS MADE OF THE MEETING AND THE VOTE. A NEW COMPENSATION STUDY WAS UNDERTAKEN IN THE FALL OF 2024 WHICH DID NOT RECOMMEND ANY CHANGES TO THE CURRENT STRUCTURE IN 2024. COMPENSATION IS APPROACHED ON AN OVERALL BASIS AND THE TOTAL VALUE OF ALL FORMS OF COMPENSATION IS ESTABLISHED AND MONITORED. THERE IS A COMPREHENSIVE COMPENSATION REVIEW PERFORMED ANNUALLY FOR THE EXECUTIVE DIRECTOR AND OTHER KEY MANAGEMENT PERSONNEL. THE COMPENSATION IS REVIEWED, DOCUMENTED, AND APPROVED BY THE BOARD DURING THE BUDGET PROCESS. FORM 990, PART VI, SECTION C, LINE 19 DESCRIBE WHETHER (AND IF SO, HOW) THE ORGANIZATION MADE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC DURING THE TAX YEAR. THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND THE FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST FROM THE EXECUTIVE DIRECTOR'S OFFICE, FOR THE DISCLOSURE PERIOD SPECIFIED UNDER SECTION 6104(D). FORM 990, PART VII, SECTION B: INDEPENDENT CONTRACTORS COMPENSATION. THE AMOUNT INCLUDED IN COLUMN (C) FOR ERICKSON SENIOR LIVING IS FOR PAYMENTS MADE FOR MANAGEMENT SERVICES AND THE DIRECT AND SHARED COSTS ALLOCATED TO THE COMMUNITY. DIRECT AND SHARED COSTS INCLUDE SALARIES AND BENEFITS FOR MANAGEMENT PERSONNEL, AND THE USE OF SERVICES SUCH AS FINANCE, LEGAL, HUMAN RESOURCES, INFORMATION SERVICES, AND OPERATIONS. FORM 990, PART VII, SECTION A: REPORTABLE COMPENSATION FROM THE ORGANIZATION AND FROM RELATED ORGANIZATIONS. THE COMPENSATION INCLUDED IN COLUMNS D AND E FOR THE BOARD DIRECTORS IS FOR SERVICES PERFORMED FOR THE FILING ORGANIZATION AND ALL RELATED ORGANIZATIONS INCLUDED ON SCHEDULE R, PART II. THE COMPENSATION FOR THE ASSISTANT SECRETARY INCLUDED IN COLUMNS D AND E IS FOR SERVICES PERFORMED FOR NATIONAL SENIOR COMMUNITIES, INC, A RELATED ORGANIZATION. NATIONAL SENIOR COMMUNITIES SUPPORTS EIGHTEEN COMMUNITIES. FORM 990, PART XI, LINE 9: CHANGE IN BENEFICIAL INTEREST IN NATIONAL CCRC BUSINESS TRUST 1 6,684,616. UNREALIZED LOSS ON INTEREST SWAP -31,910. CHANGE IN RESTRICTED NET INVESTMENT RETURN 185,645. ASHBY PONDS INC 21170 ASHBY PONDS BLVD ASHBURN VA 20147 205609803 CONTINUING CARE RETIREMENT COMMUNITY MD 501(C)(3) LINE 10 NATIONAL SENIOR COMMUNITIES INC 0 AVERY POINT INC 1000 AVERY POINT WAY RICHMOND VA 23233 922254866 CONTINUING CARE RETIREMENT COMMUNITY MD 501(C)(3) LINE 10 NATIONAL SENIOR COMMUNITIES INC 0 BETHESDA NSC RETIREMENT COMMUNITY INC 816 CONNECTICUT AVE NW 7TH FL WASHINGTON DC 20006 922205771 CONTINUING CARE RETIREMENT COMMUNITY MD 501(C)(3) LINE 10 NATIONAL SENIOR COMMUNITIES INC 0 BROOKSBY VILLAGE INC 100 BROOKSBY VILLAGE DRIVE PEABODY MA 01960 522126755 CONTINUING CARE RETIREMENT COMMUNITY MD 501(C)(3) LINE 10 NATIONAL SENIOR COMMUNITIES INC 0 CEDAR CREST VILLAGE INC 1 CEDAR CREST VILLAGE DRIVE POMPTON PLAINS NJ 07444 522184915 CONTINUING CARE RETIREMENT COMMUNITY MD 501(C)(3) LINE 10 NATIONAL SENIOR COMMUNITIES INC 0 EAGLE'S TRACE INC 14703 EAGLE VISTA DRIVE HOUSTON TX 77077 030498683 CONTINUING CARE RETIREMENT COMMUNITY MD 501(C)(3) LINE 10 NATIONAL SENIOR COMMUNITIES INC 0 FOX RUN VILLAGE INC 41000 13 MILE ROAD NOVI MI 48377 522291271 CONTINUING CARE RETIREMENT COMMUNITY MD 501(C)(3) LINE 10 NATIONAL SENIOR COMMUNITIES INC 0 GREENSPRING VILLAGE INC 7440 SPRING VILLAGE DRIVE SPRINGFIELD VA 22150 522095427 CONTINUING CARE RETIREMENT COMMUNITY MD 501(C)(3) LINE 10 NATIONAL SENIOR COMMUNITIES INC 0 HIGHLAND SPRINGS INC 8000 FRANKFORD ROAD DALLAS TX 75252 510536892 CONTINUING CARE RETIREMENT COMMUNITY MD 501(C)(3) LINE 10 NATIONAL SENIOR COMMUNITIES INC 0 LANTERN HILL INC 535 MOUNTAIN AVENUE NEW PROVIDENCE NJ 07974 371742780 CONTINUING CARE RETIREMENT COMMUNITY MD 501(C)(3) LINE 10 NATIONAL SENIOR COMMUNITIES INC 0 LINDEN PONDS INC 300 LINDEN PONDS WAY HINGHAM MA 02043 141849849 CONTINUING CARE RETIREMENT COMMUNITY MD 501(C)(3) LINE 10 NATIONAL SENIOR COMMUNITIES INC 0 MARIS GROVE INC 100 MARIS GROVE WAY GLEN MILLS PA 19342 550878964 CONTINUING CARE RETIREMENT COMMUNITY PA 501(C)(3) LINE 10 NATIONAL SENIOR COMMUNITIES INC 0 MATTHEWS NSC RETIREMENT COMMUNITY INC 816 CONNECTICUT AVE NW 7TH FLOOR WASHINGTON DC 20006 922269292 CONTINUING CARE RETIREMENT COMMUNITY MD 501(C)(3) LINE 10 NATIONAL SENIOR COMMUNITIES INC 0 NATIONAL SENIOR COMMUNITIES INC 816 CONNECTICUT AVE NW 7TH FLOOR WASHINGTON DC 20006 204356247 SUPPORTING ORGANIZATION MD 501(C)(3) LINE 12C, III-FI N/A 0 OAK CREST VILLAGE INC 8800 WALTHER BOULEVARD PARKVILLE MD 21234 521874053 CONTINUING CARE RETIREMENT COMMUNITY MD 501(C)(3) LINE 10 NATIONAL SENIOR COMMUNITIES INC 0 RIDERWOOD VILLAGE INC 3110 GRACEFIELD ROAD SILVER SPRING MD 20904 522126753 CONTINUING CARE RETIREMENT COMMUNITY MD 501(C)(3) LINE 10 NATIONAL SENIOR COMMUNITIES INC 0 SEABROOK VILLAGE INC 3000 ESSEX ROAD TINTON FALLS NJ 07753 522126751 CONTINUING CARE RETIREMENT COMMUNITY MD 501(C)(3) LINE 10 NATIONAL SENIOR COMMUNITIES INC 0 TALLGRASS CREEK INC 13800 METCALF AVENUE OVERLAND PARK KS 66223 870765641 CONTINUING CARE RETIREMENT COMMUNITY MD 501(C)(3) LINE 10 NATIONAL SENIOR COMMUNITIES INC 0 WIND CREST INC 3235 MILL VISTA ROAD HIGHLANDS RANCH CO 80129 510549976 CONTINUING CARE RETIREMENT COMMUNITY MD 501(C)(3) LINE 10 NATIONAL SENIOR COMMUNITIES INC 0 WOODLEIGH CHASE INC 816 CONNECTICUT AVE NW 7TH FLOOR WASHINGTON DC 20006 922217836 CONTINUING CARE RETIREMENT COMMUNITY MD 501(C)(3) LINE 10 NATIONAL SENIOR COMMUNITIES INC 0 NATIONAL CCRC BUSINESS TRUST I 701 MAIDEN CHOICE LANE BALTIMORE MD 21228 266455718 CHARITABLE BUSINESS TRUST MD NATIONAL SENIOR COMMUNITIES INC EXCLUDED 3722895 93281405 0 0 0.06580 NATIONAL CCRC STATUTORY TIER IV TRUST 701 MAIDEN CHOICE LANE BALTIMORE MD 21228 853943847 CHARITABLE BUSINESS TRUST MD N/A 0 0 THE TALON BAR COMPANY 701 MAIDEN CHOICE LANE BALTIMORE MD 21228 562520131 LIQUOR LICENSE HOLDER FOR EAGLE'S TRACE TX N/A C 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 PART II, IDENTIFICATION OF RELATED TAX-EXEMPT ORGANIZATIONS: BETHESDA NSC RETIREMENT COMMUNITY, INC WAS DISSOLVED ON 4/11/24.