2016-07-25T14:38:02-05:00 2015-12-31 420714325 RSM US LLP 100 INTERNATIONAL DRIVE STE 1400 BALTIMORE MD 21202 990 2015-01-01 205609803 ASHBY PONDS INC ASHB 7037231999 21170 ASHBY PONDS BLVD ASHBURN VA 20147 EILEEN ERSTAD TREASURER 7037231999 2016-07-19 1 JAMES P SWEENEY CPA P01263012 4102469300 2015 2016-12-15 16:53:06Z JOANNE RORAPAUGH 21170 ASHBY PONDS BLVD ASHBURN VA 20147 51031797 0 X WWW.NATIONALSENIORCAMPUSES.ORG X 2006 MD PROVIDE A HOME FOR SENIORS THAT SATISFIES THEIR THREE PRIMARY NEEDS. 10 10 682 303 0 0 478946 559326 22748770 38010815 9315240 12267678 177528 189684 32720484 51027503 35931 51096 0 0 10143011 15658385 0 0 62693 28807378 41512954 38986320 57222435 -6265836 -6194932 340769740 459141724 346896802 471468066 -6127062 -12326342 X OUR MISSION IS TO PROMOTE AN ACTIVE AND ENGAGED QUALITY OF LIFE FOR SENIORS AND TO ACHIEVE EXCELLENCE IN SERVICES AND PROGRAMS WITH UNMATCHED VALUE FOR OUR PRESENT AND FUTURE RESIDENTS. WE WORK TO MAINTAIN AFFORDABILITY AND LIFELONG COMMITMENT FOR MIDDLE INCOME SENIORS WHILE ENSURING THE LONG-TERM FINANCIAL STABILITY OF THE COMMUNITY. 0 0 54881011 51096 38010815 ASHBY PONDS PROVIDES SERVICES NEEDED BY SENIOR RESIDENTS, WHO RESIDE IN 750 INDEPENDENT LIVING UNITS, 63 ASSISTED LIVING UNITS, 40 SKILLED NURSING UNITS, AND 32 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. 54881011 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 109 0 1 682 1 0 0 0 0 0 1 1 0 0 0 0 X 10 10 0 1 1 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 VA X X MONIKA GAJDA 4104022311 701 MAIDEN CHOICE LANE BALTIMORE MD 21228 JOANNE RORAPAUGH CHAIRPERSON 2.00 9.00 X X 12500 40000 0 JACKSON BAIN PRESIDENT/VICE CHAIR 0.30 11.90 X X 7500 58125 0 PHYLLIS LYNNE SECRETARY 3.00 X X 10000 0 0 EILEEN ERSTAD TREASURER 3.00 19.00 X X 7500 80000 0 JIM ANDERS DIRECTOR 1.00 7.00 X 7500 70000 0 LARRY SHUBNELL DIRECTOR 1.00 15.00 X 7500 55000 0 STEPHANIE REEL DIRECTOR 0.40 1.20 X 7500 27500 0 BETTY PRICE DIRECTOR 0.20 4.60 X 7500 26875 0 CAROLYN JACOBS DIRECTOR 1.00 3.00 X 7500 27500 0 RON WALKER DIRECTOR 1.00 10.00 X 7500 40000 0 JOHN HALL ASSISTANT TREASURER 0.50 7.00 X 0 0 0 CHRIS RATHMANN ASSISTANT TREASURER 0.50 7.50 X 0 0 0 JAMES WALTER ASSISTANT TREASURER 0.50 7.00 X 0 0 0 JOHN GALLAGHER EXECUTIVE DIRECTOR 40.00 X 238123 0 20319 CHRISTOPHER VILLA DIRECTOR OF FINANCE 40.00 X 137834 0 20909 HOLLY HENDERSON DIRECTOR OF SALES 40.00 X 155209 0 16859 ALBERTA MOMOH DIRECTOR OF NURSING 40.00 X 151553 0 1431 AMY GROSSMAN DIRECTOR OF CONTINUING CARE 40.00 X 132709 0 20003 THOMAS CHANNON DIRECTOR OF GENERAL SERVICES 40.00 X 127325 0 21051 DANA BRADSHAW SALES COUNSELOR 40.00 X 123924 0 16259 1149177 425000 116831 8 0 1 0 ERICKSON LIVING MANAGEMENT INC (ELM) 701 MAIDEN CHOICE LANE BALTIMORE MD 21228 MANAGEMENT 1133472 CYPRESS CONTRACTING 23465 ROCK HAVEN WAY STERLING VA 20166 BUILDER 580961 FURNITURE SOLUTIONS GROUP 619 SEVERN AVE ANNAPOLIS MD 21403 CUSTOM INTERIORS 421145 ELEGANT CARPET AND FLOORING 21770 BEAUMEADE CIR 105 ASHBURN VA 20147 FLOORING 340297 BRICKMAN GROUP LTD LLC 2275 RESEARCH BLVD ROCKVILLE MD 20850 LANDSCAPING 270152 14 6587 552739 559326 RESIDENT FEES 623990 34147638 34147638 ANCILLARY FEES 623990 2651252 2651252 RESIDENT DEPOSITS 623990 1103746 1103746 CONTRACT REVENUE 623990 65729 65729 PROCESSING FEES 623990 42450 42450 38010815 12267178 12267178 183693 0 183693 183693 183693 500 0 500 500 500 10285 6587 4294 5991 5991 51027503 38010815 0 12457362 X 7205 7205 43891 43891 499685 499685 12192949 11484267 661389 47293 141272 45199 94643 1430 1793640 1639749 146940 6951 1030839 939107 88137 3595 1133472 1133472 14266 88 14178 47502 47502 5782360 5172285 610075 690481 690481 3892990 3818879 72834 1277 6513638 6513333 305 74241 61186 12565 490 17496597 17496597 5001641 4998411 3230 161350 161350 EQUIPMENT RENTAL 256679 252291 4388 ADMINISTRATIVE 234052 211752 22204 96 RESIDENT RELATIONS 213685 163966 48158 1561 57222435 54881011 2278731 62693 1917 2367 7836829 13733796 771105 1324674 1322557 3926222 83199 88996 6074 6137 178346638 17377225 114177661 160969413 216570398 279090119 340769740 459141724 2442324 5832416 344454478 465635650 346896802 471468066 X -7555880 -14093636 1428818 1767294 -6127062 -12326342 340769740 459141724 X -6194932 -4348 X 0 1 X 1 0 X 338375 394379 496739 478946 559326 2267765 16168740 20808642 19664078 22751084 38021100 117413644 16507115 21203021 20160817 23230030 38580426 119681409 150000 155000 160000 160000 160000 785000 0 150000 155000 160000 160000 160000 785000 118896409 7431350 8358839 9008188 9490454 12450871 46739702 7431350 8358839 9008188 9490454 12450871 46739702 23938465 29561860 29169005 32720484 51031297 166421111 0.71440 0.71670 0.28090 0.27780 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 170557985 14473845 156084140 2771208 1447197 1324011 5017445 1456183 3561262 160969413 COMMUNITY LOAN RECEIVABLE 279090119 279090119 ADVANCE DEPOSITS 2569338 CLAIMS RESERVE 275224 FUNDS HELD FOR RESIDENTS 27429 RESIDENT DEPOSITS (NET) 287325653 UNCLAIMED PROPERTY 672 RESIDENT REFUNDS PAYABLE 1520700 INTEREST PAYABLE 1596169 CAPITAL LEASE OBLIGATION 172228042 DEFERRED MANAGEMENT FEE 56674 DEFERRED MARKETING FEE 35749 465635650 X 51031768 4265 4265 51027503 0 51027503 57226700 4265 4265 57222435 0 57222435 PART X, LINE 2: ASHBY PONDS, INC. ("APL") 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 APL'S TAX POSITIONS AND HAS CONCLUDED THAT APL HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: ADJUSTMENT TO TRNA 4,265. PART XII, LINE 2D - OTHER ADJUSTMENTS: ADJUSTMENT TO TRNA 4,265. BAZAAR 10835 6587 4248 547 PECANS 6037 6037 3747 16872 6587 10285 4294 4294 5991 1 EDUCATIONAL SCHOLARSHIPS - SEE PART IV 45 43891 SCHEDULE I, PART I, LINE 2 SCHOLAR CANDIDATES MUST BE CURRENTLY EMPLOYED YEAR-ROUND AT ASHBY PONDS. ONLY MEDICAL LEAVES OF ABSENCE ARE ALLOWABLE DURING THE TWO YEARS. OTHER REQUESTS FOR A LEAVE OF ABSENCE WILL BE REVIEWED AND DETERMINED CASE BY CASE. A SCHOLAR CANDIDATE MUST HAVE BEEN EMPLOYED BY ASHBY PONDS ON OR BEFORE SEPTEMBER 30, 2015. THE CANDIDATE MUST ALSO ACHIEVE 1,000 HOURS OF WORK DURING A TIME SPAN THAT BEGINS NO EARLIER THAN JUNE 1, 2015 OF THEIR JUNIOR YEAR OF HIGH SCHOOL (300 OF 1,000 HOURS MUST BE COMPLETED BY THE END OF THEIR JUNIOR YEAR OF HIGH SCHOOL TO QUALIFY). ANY HOURS WORKED PRIOR TO JUNE 1, 2015 DO NOT COUNT TOWARDS THE 1,000 HOURS REQUIREMENT. CANDIDATES MUST ACHIEVE THE 1,000 HOUR REQUIREMENT AS WELL AS FULFILL THE TWO-YEAR MINIMUM EMPLOYMENT REQUIREMENT. CANDIDATES MUST BE IN "GOOD STANDING" FROM THEIR ORIGINAL DATE OF HIRE THROUGH THEIR LAST DAY OF WORK. TO MAINTAIN "GOOD STANDING," SCHOLAR CANDIDATES, AS EMPLOYEES, MUST ABIDE BY ALL EMPLOYMENT POLICIES AND PROCEDURES, TO INCLUDE GIVING TWO WEEKS NOTICE TO THEIR SUPERVISOR WHEN TERMINATING EMPLOYMENT. SCHOLAR CANDIDATES MUST COMPLETE EACH STEP AS OUTLINED IN THE PROGRAM DESCRIPTION BY THE RESPECTIVE DUE DATE. FURTHERMORE, CANDIDATES MUST TURN IN PROOF OF FULL-TIME STATUS WITHIN THE DATES SPECIFIED IN THE PROGRAM DESCRIPTION FOR EACH SPRING AND FALL SEMESTER THEY ATTEND SCHOOL. FAILURE TO DO SO WILL DISQUALIFY THE SCHOLAR THAT SEMESTER AND WILL COUNT TOWARDS ONE OF THE TWO ALLOWABLE SEMESTER LAPSES. CANDIDATES SHOULD INTEND TO GO TO COLLEGE OR TRADE SCHOOL AFTER HIGH SCHOOL. SCHOLAR CANDIDATES MUST ATTEND SCHOOL FULL-TIME (12 CREDIT HOURS EACH SEMESTER) AFTER HIGH SCHOOL. SCHOLAR CANDIDATES MUST BE ACCEPTED AND/OR REGISTERED IN THE FALL OF 2015 AT A TRADE SCHOOL, COLLEGE, OR UNIVERSITY TO BENEFIT. (IN EXCEPTIONAL CASES, A SCHOLAR CANDIDATE MAY ARRANGE TO START SCHOOL UP TO TWO SEMESTERS AFTER BEING INDUCTED INTO THE PROGRAM, BUT THEY MUST MAKE ARRANGEMENTS WITH THE FINANCE DEPARTMENT. THESE TWO SEMESTERS WILL COUNT AS THE TWO ALLOCABLE SEMESTER LAPSES.) SCHOLARS WHO LAPSE FROM THE PROGRAM FOR MORE THAN A TOTAL OF TWO SEMESTERS AFTER BEING INDUCTED INTO THE PROGRAM ARE NO LONGER ELIGIBLE TO RECEIVE THE AWARD. X X X 0 0 0 0 0 0 0 0 0 JOHN GALLAGHER EXECUTIVE DIRECTOR 187145 0 47500 0 3478 0 0 0 20319 0 258442 0 0 0 CHRISTOPHER VILLA DIRECTOR OF FINANCE 122120 0 15300 0 414 0 750 0 20159 0 158743 0 0 0 HOLLY HENDERSON DIRECTOR OF SALES 140195 0 15000 0 14 0 0 0 16859 0 172068 0 0 0 ALBERTA MOMOH DIRECTOR OF NURSING 131888 0 18983 0 682 0 0 0 1431 0 152984 0 0 0 AMY GROSSMAN DIRECTOR OF CONTINUING CARE 117458 0 14900 0 351 0 750 0 19253 0 152712 0 0 0 SCHEDULE J, PART VII INDIVIDUALS JOHN GALLAGHER, CHRISTOPHER VILLA, HOLLY HENDERSON AND AMY GROSSMAN ARE LISTED IN SCHEDULE J, PART II AND ARE EMPLOYEES OF ERICKSON LIVING MANAGEMENT, LLC ("ELM"), AN UNRELATED ORGANIZATION TO ASHBY PONDS, INC., IN ACCORDANCE WITH THE MANAGEMENT AGREEMENT BETWEEN ASHBY PONDS, INC. AND ELM. SEE SCHEDULE O EXPLANATION FOR FORM 990, PART VI, SECTION A, LINE 3. THEREFORE, FOR IRS MATCHING PURPOSES, ELM IS THE ISSUER OF THESE FORMS W-2. UNDER THE MANAGEMENT AGREEMENT, ASHBY PONDS, INC. REIMBURSES ELM FOR THE COST OF SERVICES PERFORMED FOR ASHBY PONDS, INC. FORM 990, PART VI, SECTION A, LINE 1 UNDER THE BYLAWS OF THE ORGANIZATION, THE BOARD HAS DELEGATED AUTHORITY TO AN EXECUTIVE COMMITTEE COMPRISED OF THE ORGANIZATION'S CHAIRMAN, 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 STATE OF MARYLAND. FORM 990, PART VI, SECTION A, LINE 3 ASHBY PONDS, INC. ENTERED INTO A MANAGEMENT AND MARKETING AGREEMENT ON APRIL 30, 2010 WITH ERICKSON LIVING MANAGEMENT, LLC ("ELM"). ELM IS A MARYLAND LIMITED LIABILITY COMPANY WHICH OPERATES AND MANAGES LARGE SCALE CONTINUING CARE RETIREMENT COMMUNITIES. THE ORGANIZATION AND THE MANAGER AMENDED THE MANAGEMENT AND MARKETING AGREEMENT TO REVISE CERTAIN PROVISIONS RELATING TO THE MARKET TESTING OF THE MANAGEMENT FEES AND TO REPLACE THE CONTRACT EXECUTION POLICY WITH AN UPDATED VERSION OF THE POLICY. THE FOLLOWING OFFICERS ARE LISTED IN PART VII, AS NON-COMPENSATED OFFICERS OF THE FILING ORGANIZATION, JOHN HALL, JAMES WALTER, AND CHRIS RATHMANN. THEIR DUTIES ARE CONSIDERED PERFORMED PRO BONO. JOHN GALLAGHER, EXECUTIVE DIRECTOR, CHRISTOPHER VILLA, DIRECTOR OF FINANCE, HOLLY HENDERSON, DIRECTOR OF SALES, AMY GROSSMAN, DIRECTOR OF CONTINUING CARE AND THOMAS CHANNON, DIRECTOR OF GENERAL SERVICES, 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 4 DURING 2015, THE ORGANIZATION APPROVED AMENDED AND RESTATED BYLAWS PROVIDING ADDITIONAL AUTHORITY TO THE ORGANIZATION'S MEMBER, NATIONAL SENIOR CAMPUSES, INC., ("NSC"), INCLUDING CERTAIN RESERVED POWERS AND IDENTIFYING CERTAIN POWERS THAT ARE SHARED BETWEEN NSC AND THE ORGANIZATION. THE CHANGES WILL ENABLE NSC AS A SUPPORTING ORGANIZATION AND THE ORGANIZATION AS A SUPPORTED ORGANIZATION (AS WELL AS NSC'S OTHER SUPPORTED ORGANIZATIONS) TO PURSUE THEIR CHARITABLE MISSIONS IN A MORE EFFICIENT, EFFECTIVE AND COORDINATED MANNER. THE AMENDED & RESTATED BYLAWS WENT INTO EFFECT IN 2016. FORM 990, PART VI, SECTION A, LINE 6 ASHBY PONDS, INC.'S SOLE MEMBER IS NATIONAL SENIOR CAMPUSES, INC. ("NSC"). NSC IS A MARYLAND NON-STOCK CORPORATION. NSC IS A "SUPPORTING ORGANIZATION" WITH RESPECT TO ASHBY PONDS, 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 NATIONAL SENIOR CAMPUSES, INC. HAS THE RIGHT TO APPOINT AND ELECT ALL DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B CERTAIN EXTRAORDINARY ACTIONS OF THE CORPORATION REQUIRE THE APPROVAL OF THE MEMBER UNDER APPLICABLE STATE LAW. FORM 990, PART VI, SECTION B, LINE 11 THE BOARD APPOINTS A COMMITTEE FROM AMONG ITS DIRECTORS AS WELL AS THE DIRECTORS FROM ONE OR MORE RELATED ENTITIES TO OVERSEE THE PREPARATION OF FORM 990. THE BOARD CHAIR HAS THE RESPONSIBILITY TO REVIEW FORM 990 PRIOR TO ITS FILING OR TO DESIGNATE ANOTHER BOARD MEMBER TO REVIEW THE FORM. THE FULL BOARD IS GIVEN THE OPPORTUNITY TO REVIEW THE FINAL VERSION OF FORM 990 BEFORE IT IS FILED AND ASK QUESTIONS OF THE COMMITTEE OR THE REVIEWER REGARDING THE FORM. THE BOARD CHAIR DESIGNATES AN OFFICER TO SIGN FORM 990. FORM 990, PART VI, SECTION B, LINE 12C ASHBY PONDS, INC.'S CONFLICT OF INTEREST POLICY COVERS ALL DIRECTORS, OFFICERS, KEY EMPLOYEES, EMPLOYEES AND VOLUNTEERS IN A POSITION TO EXERCISE SUBSTANTIAL INFLUENCE OVER ASHBY PONDS, INC.'S AFFAIRS, COMMITTEE MEMBERS, PROSPECTIVE DIRECTORS, AND SENIOR STAFF PROVIDING SERVICES TO THE ORGANIZATION UNDER A MANAGEMENT AGREEMENT. EACH COVERED PERSON COMPLETES A CONFLICT OF INTEREST DISCLOSURE STATEMENT ANNUALLY AND AS POTENTIAL CONFLICTS ARISE DURING THE YEAR. THESE 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 THE BOARD HAS APPROVED A DIRECTORS' COMPENSATION POLICY WHICH ESTABLISHES THE PROCESS BY WHICH ALL DIRECTOR COMPENSATION IS DETERMINED. OFFICERS SERVE WITHOUT COMPENSATION. A REVIEW OF THE DIRECTORS' COMPENSATION IS CONDUCTED EACH FISCAL YEAR. COMPENSATION IS APPROACHED ON AN OVERALL BASIS AND THE TOTAL VALUE OF ALL FORMS OF COMPENSATION IS ESTABLISHED AND MONITORED. AN INDEPENDENT COMPENSATION CONSULTANT IS PERIODICALLY RETAINED TO PERFORM AN ANALYSIS OF ASHBY PONDS, 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 FULL BOARD HAS ACCESS TO ASHBY PONDS INC.'S 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. THE CONSULTANT REVIEW WAS LAST UNDERTAKEN IN 2014 AND WAS ACTED UPON BY THE BOARD IN EARLY 2015. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND THE FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AT THE EXECUTIVE DIRECTOR'S OFFICE FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART IX, LINE 11G CONTRACT PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 5,172,285. MANAGEMENT AND GENERAL EXPENSES 610,075. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 5,782,360. FORM 990, PART XI, LINE 9: REVERSAL OF PRIOR AMORTIZATION -4,348. FORM 990, PART X, LINE 23 MORTGAGES AND OTHER NOTES PAYABLE AN AMENDMENT WAS MADE TO DECREASE THE MAXIMUM AMOUNT AVAILABLE TO BE BORROWED UNDER THE WORKING CAPITAL LOAN AGREEMENT. THE NEW WORKING CAPITAL LOAN AGREEMENT PROVIDES THAT THE ORGANIZATION'S PAYMENT OBLIGATION MAY BE DEFERRED WITHOUT PENALTY TO ALLOW THE ORGANIZATION TO MAINTAIN CERTAIN REQUIRED CASH ON HAND UNTIL SUCH TIME AS IT IS ABLE TO RESUME MAKING PAYMENTS ON THE LOAN AND MEET THE REQUIREMENTS FOR CASH RESERVES (IF PAYMENT WOULD CAUSE THE ORGANIZATION TO FALL BELOW REGULATORY REQUIREMENTS FOR CASH RESERVES). THE OUTSTANDING BALANCE ON THE WCLA LOAN WAS $0 AND $790,629 AS OF DECEMBER 31, 2015 AND 2014. BROOKSBY VILLAGE INC 100 BROOKSBY VILLAGE DRIVE PEABODY MA 01960 522126755 CONTINUING CARE RETIREMENT COMMUNITY MD 501(C)(3) 9 NATIONAL SENIOR CAMPUSES INC 0 CEDAR CREST VILLAGE INC 1 CEDAR CREST VILLAGE DRIVE POMPTON PLAINS NJ 07444 522184915 CONTINUING CARE RETIREMENT COMMUNITY MD 501(C)(3) 9 NATIONAL SENIOR CAMPUSES INC 0 EAGLE'S TRACE INC 14703 EAGLE VISTA DRIVE HOUSTON TX 77077 030498683 CONTINUING CARE RETIREMENT COMMUNITY MD 501(C)(3) 9 NATIONAL SENIOR CAMPUSES INC 0 FOX RUN VILLAGE INC 41000 13 MILE ROAD NOVI MI 48377 522291271 CONTINUING CARE RETIREMENT COMMUNITY MD 501(C)(3) 9 NATIONAL SENIOR CAMPUSES INC 0 ANN'S CHOICE INC 10000 ANNS CHOICE WAY WARMINSTER PA 18974 522095427 CONTINUING CARE RETIREMENT COMMUNITY MD 501(C)(3) 9 NATIONAL SENIOR CAMPUSES INC 0 HICKORY CHASE INC 701 MAIDEN CHOICE LANE BALTIMORE MD 21228 208991395 CONTINUING CARE RETIREMENT COMMUNITY MD 501(C)(3) 9 NATIONAL SENIOR CAMPUSES INC 0 HIGHLAND SPRINGS INC 8000 FRANKFORD ROAD DALLAS TX 75252 510536892 CONTINUING CARE RETIREMENT COMMUNITY MD 501(C)(3) 9 NATIONAL SENIOR CAMPUSES INC 0 LINDEN PONDS INC 300 LINDEN PONDS WAY HINGHAM MA 02043 141849849 CONTINUING CARE RETIREMENT COMMUNITY MD 501(C)(3) 9 NATIONAL SENIOR CAMPUSES INC 0 MARIS GROVE INC 100 MARIS GROVE WAY GLEN MILLS PA 19342 550878964 CONTINUING CARE RETIREMENT COMMUNITY PA 501(C)(3) 9 NATIONAL SENIOR CAMPUSES INC 0 NATIONAL SENIOR CAMPUSES INC 5425 WISCONSIN AVE SUITE 600 CHEVY CHASE MD 20815 204356247 SUPPORTING ORGANIZATION MD 501(C)(3) LINE 11C, III-FI N/A 0 NATIONAL SENIOR CAMPUSES FOUNDATION INC 5425 WISCONSIN AVE SUITE 600 CHEVY CHASE MD 20815 030611973 SUPPORTING ORGANIZATION MD 501(C)(3) LINE 11C, III-FI N/A 0 OAK CREST VILLAGE INC 8800 WALTHER BOULEVARD PARKVILLE MD 21234 521874053 CONTINUING CARE RETIREMENT COMMUNITY MD 501(C)(3) 9 NATIONAL SENIOR CAMPUSES INC 0 RIDERWOOD VILLAGE INC 3110 GRACEFIELD ROAD SILVER SPRING MD 20904 522126753 CONTINUING CARE RETIREMENT COMMUNITY MD 501(C)(3) 9 NATIONAL SENIOR CAMPUSES INC 0 SEABROOK VILLAGE INC 3000 ESSEX ROAD TINTON FALLS NJ 07753 522126751 CONTINUING CARE RETIREMENT COMMUNITY MD 501(C)(3) 9 NATIONAL SENIOR CAMPUSES INC 0 TALLGRASS CREEK INC 13800 METCALF AVENUE OVERLAND PARK KS 66223 870765641 CONTINUING CARE RETIREMENT COMMUNITY MD 501(C)(3) 9 NATIONAL SENIOR CAMPUSES INC 0 WIND CREST INC 3235 MILL VISTA ROAD HIGHLANDS RANCH CO 80129 510549976 CONTINUING CARE RETIREMENT COMMUNITY MD 501(C)(3) 9 NATIONAL SENIOR CAMPUSES INC 0 GREENSPRING VILLAGE INC 7440 SPRING VILLAGE DRIVE SPRINGFIELD VA 22150 522095427 CONTINUING CARE RETIREMENT COMMUNITY MD 501(C)(3) 9 NATIONAL SENIOR CAMPUSES INC 0 LANTERN HILL INC 535 MOUNTAIN AVENUE NEW PROVIDENCE NJ 07974 371742780 CONTINUING CARE RETIREMENT COMMUNITY MD 501(C)(3) 9 NATIONAL SENIOR CAMPUSES INC 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0