2015-01-27T15:34:26-06:00 2014-06-30 SMITH & HOWARD PC 271 17TH STREET SUITE 1600 ATLANTA GA 30363 990 2013-07-01 581416841 LENBROOK SQUARE FOUNDATION INC % DANIEL DORNBLASER LENB 4042333000 3747 PEACHTREE ROAD NE Suite ATLANTA GA 30319 DANIEL DORNBLASER VP OF FINANCE AND CFO 4042333000 2015-02-16 true MARC AZAR P00746804 4042333000 2013 2016-02-25 16:41:14Z CHRISTOPHER KEYSOR CEO 3747 PEACHTREE RD NE ATLANTA GA 30319 29129216 false X www.lenbrook-atlanta.com X 1980 GA To enable our residents to enjoy the gifts of independence, good health, and personal fulfillment to the fullest extent possible through Lenbrook's many programs and services. 11 11 261 0 -940 -940 348726 315405 29782609 28484200 217177 113194 2439 -940 30350951 28911859 0 0 0 0 9130782 10072597 90000 60000 73935 20361318 21248353 29582100 31380950 768851 -2469091 172420070 179005588 206792650 248896969 -34372580 -69891381 X MISSION: TO ENABLE OUR RESIDENTS TO ENJOY THE GIFTS OF INDEPENDENCE, GOOD HEALTH, AND PERSONAL FULFILLMENT TO THE FULLEST EXTENT POSSIBLE THROUGH LENBROOK'S MANY PROGAMS AND SERVICES. VISION: TO BE RECOGNIZED AS THE MOST DESIRABLE SENIOR LIVING COMMUNITY IN THE SOUTHEAST. THIS IS BECAUSE LENBROOK LEADS THE WAY BY PROVIDING OUTSTANDING RESIDENT SERVICES AND AWARD WINNING FACILITIES UNIQUELY ALIGNED TO ENRICH AND FULFILL THE DIVERSE NEEDS OF A VIBRANT ADULT COMMUNITY IN ONE ELEGANT SETTING. false false 28058534 28484200 GENERAL OPERATION OF CONTINUING CARE FACILITY PROVIDING HOUSING AND SERVICES FOR THE ELDERLY, AVERAGING 483 RESIDENTS PER DAY. THE COMMUNITY INCLUDES A 17-STORY BUILDING CONTAINING 215 RESIDENTIAL UNITS, A 16 UNIT PERSONAL CARE WING, A 25-STORY BUILDING CONTAINING 140 RESIDENTIAL UNITS AND A 60-BED SKILLED NURSING CARE UNIT, ALONG WITH VARIOUS ADMINISTRATIVE, DINING AND RECREATIONAL AMENITIES. . . 28058534 true true false false false false false false false true true false false false true true true false false false false false false true false false false false false true true false false false false false false false false false false false false false false false true false false false true 50 0 true 261 true true true false false false false false false false false false X 11 11 false false false false false false false true true false false true true true true true true true true false GA X DANIEL DORNBLASER 4042333000 3747 PEACHTREE RD NE ATLANTA GA 30319 X JOHN S DAY DIRECTOR-CHAIR 7.0 X 6000 KAREN D HENDRIX DIRECTOR-SECRETARY 4.0 X 6000 JOHN J GILLIN DIRECTOR-PAST CHAIR 2.0 X 6000 JAMES F BELL JR DIRECTOR 2.0 X 3000 DEBBIE BISHOP DIRECTOR 4.0 X 3000 DANIEL DORNBLASER DIRECTOR 2.0 X 3000 WILLIAM FARR III DIRECTOR 2.0 X 3000 EUGENE A HAYES III DIRECTOR 2.0 X 6000 MARK KILL DIRECTOR 2.0 X 6000 MARIAN LUCIA DIRECTOR 2.0 X 6000 JAMES POLLAK DIRECTOR 2.0 X 6000 JERRY WARSHAW DIRECTOR 2.0 X 6000 DAVID H WILLIAMS JR DIRECTOR 1.0 X 2000 CHRISTOPHER KEYSOR CEO 40.0 X 219033 0 15614 TONYA BODIE CFO 40.0 X 112043 0 18578 REBECCA WEBSTER CEO (UNTIL 1/10/2014) 40.0 X 242434 17767 MICHAEL MCDANIEL VP COMMUNITY SVC 40.0 X 119877 15262 BETH RICHARDSON VP OPER/HEALTH SVC 40.0 X 143422 17636 FELECIA SVEDA VP MARKETING 40.0 X 114594 2292 SHERRI SHEFFIELD SALES COUNSELOR 40.0 X 129580 8295 1142983 0 95444 7 false true false MORRISON SENIOR DINING PO BOX 102289 ATLANTA GA 30368 DINING SERVICES/MGT 2214460 ABM HEALTHCARE PO BOX 935695 ATLANTA GA 31193 HOUSEKEEPING 1160887 HERITAGE HEALTHCARE 536 OLD HOWELL RD GREENVILLE SC 29615 THERAPY 531578 LOVE COMPANY 1209 N EAST ST FREDERICK MD 21701 MARKETING 163403 FURR ELECTRIC 4230 N MARTIN WAY LITHIA SPRINGS GA 30122 ELECTRICAL PROJECTS 149011 11 315405 1856 315405 MONTHLY SVC FEE 623000 16601948 16601948 HEALTH CARE REVENUE 623000 6288011 6288011 DEFD REV FROM ADVANCE FEES 623000 2536475 2536475 MEAL REVENUE 623990 2292946 2292946 BEAUTY SHOP REVENUE 623000 228898 228898 535922 535922 28484200 307675 307675 0 0 21936 22876 -940 0 -940 -940 0 194481 -194481 -194481 -194481 0 0 0 0 28911859 28484200 -940 113194 0 0 0 0 691506 111785 566327 13394 7797605 6629041 1168185 379 0 0 77528 65909 11615 4 870878 806331 64526 21 635080 522263 112780 37 0 37108 37108 51008 51008 0 60000 60000 0 2971872 2564096 407776 175933 175933 664945 563255 101590 100 134226 134226 0 2896745 2896745 64026 57791 6235 0 0 5187159 5187159 0 5705488 5705488 0 FOOD 1375532 1375532 THERAPY/XRAYS 739109 739109 AMORTIZATION OF FINANCING COST 526760 526760 ACTIVITIES 222361 104195 118166 496081 203075 293006 31380950 28058534 3248481 73935 X 1036 1036 22353650 32251974 35000 35000 143257 316442 0 0 0 0 1792161 2246159 33492 33224 102890 105447 183667226 48453251 138844272 135213975 6400281 6400281 92294 90109 0 0 0 0 2621737 2311941 172420070 179005588 3948884 4417036 0 0 98710275 146050342 103116675 97916023 0 0 0 0 0 0 0 0 1016816 513568 206792650 248896969 X -34971161 -70508891 598581 617510 0 0 -34372580 -69891381 172420070 179005588 X -2469091 1832 -33051542 X false true X true false X false false false 126875 263786 356401 348726 315405 1411193 20007669 23462505 26875942 29782609 28484200 128612925 0 0 0 20134544 23726291 27232343 30131335 28799605 130024118 0 0 0 0 0 0 0 0 0 0 0 0 0 130024118 449421 328171 332947 334706 329611 1774856 0 449421 328171 332947 334706 329611 1774856 0 0 20583965 24054462 27565290 30466041 29129216 131798974 0.98653 0.98243 0.01347 0.01757 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 598581 299861 280932 617510 549051 297548 248018 598581 438254 354851 244054 549051 368911 262763 193420 438254 403100 99026 133215 368911 1.00000 false false 6781229 6781229 153215298 34227370 118987928 14477404 8394215 6083189 2961235 2799503 161732 6174085 2974188 3199897 135213975 0 PRIORITY RESERVATION AGREEMT 513568 513568 X 28936567 1832 22876 24708 28911859 28911859 31403826 22876 22876 31380950 31380950 USES FOR ENDOWMENT FUNDS-SCH D, PART V, LINE 4 THERE ARE 4 SEPARATE ACCOUNTS THAT ARE RESTRICTED FOR USE FOR EITHER CAPITAL IMPROVEMENTS AND RESIDENT-DIRECTED FOR ITEMS SUCH AS LIBRARY ADDITIONS, RESIDENT BENEVOLENCE AND EMPLOYEE SUPPORT. ASC 740-SCHEDULE D, PART X THE FOUNDATION IS GOVERNED BY A BOARD OF DIRECTORS, AND IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE FOUNDATION ANNUALLY EVALUATES ALL FEDERAL AND STATE INCOME TAX POSITIONS. THIS PROCESS INCLUDES AN ANALYSIS OF WHETHER THESE INCOME TAX POSITIONS THE FOUNDATION TAKES MEET THE DEFINITION OF AN UNCERTAIN TAX POSITION UNDER THE INCOME TAXES TOPIC OF THE FINANCIAL ACCOUNTING STANDARDS CODIFICATION. IN THE NORMAL COURSE OF BUSINESS, THE FOUNDATION IS SUBJECT TO EXAMINATION BY THE FEDERAL AND STATE TAXING AUTHORITIES. IN GENERAL, THE FOUNDATION IS NO LONGER SUBJECT TO TAX EXAMINATIONS FOR TAX YEARS ENDING BEFORE JUNE 30,2011. SCHEDULE D, PART XI LINE 2D AND PART XII LINE 2D EXPENSES RELATED TO UNRELATED BUSINESS INCOME 22,876 X X X true SUDDES PARTNERS 21 BALL MILL PLACE ATLANTA GA 30350 CONSULTING false 60000 60000 GA X X X X X X false false false false false false false true false CHRISTOPHER KEYSOR CEO 187531 0 31502 0 4480 11698 235211 0 REBECCA WEBSTER CEO (UNTIL 1/10/2014) 207943 34491 4903 13428 260765 BETH RICHARDSON VP OPER/HEALTH SVC 122667 20755 1176 17024 161622 SCHEDULE G, PART 1, LINE 7 COMPENSATION-NON-FIXED PAYMENTS: THE ORGANIZATION PAID A BONUS TO CERTAIN OFFICERS AND HIGHLY COMPENSATED INDIVIDUALS REPORTED ON FORM 990, PART VII, SECTION A. A RES CARE FACIL FOR THE ELDERLY AUTH FULTON CTY GA 521374290 360058EW7 2006-12-13 171011386 SEE SUPPLEMENTAL INFORMATION false false false A 74645000 0 181470254 6553570 19160009 0 2793598 1519684 1811812 131359119 0 0 2009 true false true true A false true true true false 0.00200 0.00000 0.00200 false false false true A false false false true true true DEUTSCHE BANK 3.2 false false true SEE PART VI 10.5 true true true A true SCHEDULE K, PARTS I A PART I, A: ISSUER NAME RESIDENTIAL CARE FACILITIES FOR THE ELDERLY AUTHORITY OF FULTON COUNTY (GEORGIA) COL. F: DESCRIPTION OF PURPOSE 1) ACQUISITION, CONSTRUCTION, FURNISHING AND EQUIPPING OF RENOVATION AND EXPANSION OF THE ORGANIZATION'S SENIOR LIVING; 2) CURRENTLY REFUND THE ORGANIZATION'S 1996 BONDS ORIGINALLY ISSUED ON OCTOBER 18, 1996; AND 3) CURRENTLY REFUND OUTSTANDING TAXABLE LINES OF CREDIT OF THE ORGANIZATION. SCHEDULE K, PART II, LINE 3 PART II, LINE 3: TOTAL PROCEEDS OF ISSUE AS OF 6/30/2014 ARE $181,470,254, WHICH ARE SALE PROCEEDS OF $171,011,386 PLUS INVESTMENT EARNINGS OF $10,458,868. EXCLUDED ARE TRANSFERRED PROCEEDS FROM THE DEBT SERVICE RESERVE FUND FOR THE 1996 BONDS OF $1,869,000 WHICH WERE USED TO CURRENTLY REFUND THE 1996 BONDS. SCHEDULE K, PART II, LINE 6 PART II, LINE 6: THE CURRENT REFUNDING ESCROW OF $18,272,462 WAS EXPENDED ON 12/29/2006. SCHEDULE K, PART II, LINE 9 PART II, LINE 9: SUCH PROCEEDS WERE DEPOSITED IN THE OPERATING RESERVE FUND AND WERE USED TO PAY OPERATING EXPENSES (IN AN AMOUNT LESS THAN FIVE PERCENT [5%] OF THE SALE PROCEEDS) DIRECTLY RELATED TO CAPITAL EXPENDITURES FINANCED BY THE 2006 BONDS. SCHEDULE K, PART II, LINE 10 PART II, LINE 10: CAPITAL EXPENDITURES FROM PROCEEDS OF $131,359,119 DO NOT INCLUDE CAPITALIZED INTEREST OF $19,160,009. SCHEDULE K, PART III, LINE 2 PART III, LINE 2: THE ORGANIZATION HAS A LEASE ARRANGEMENT WITH A BEAUTY SALON PROVIDER. THE APPROXIMATE SPACE OCCUPIED BY THE PROVIDER RELATIVE TO THE TOTAL BOND-FINANCED PROPERTY IS LESS THAN 0.2%. SCHEDULE K, PART III, LINE 3A PART III, LINE 3A: THE ORGANIZATION HAS DETERMINED THAT ITS MANAGEMENT OR SERVICE CONTRACTS MEET THE SAFE HARBOR UNDER REV. PROC. 97-13, 1997-1 C.B. 632. SCHEDULE K, PART III, LINE 9, PART IV, LINE 7, AND PART V PART III, LINE 9, PART IV, LINE 7 AND PART V: THE ORGANIZATION ADOPTED WRITTEN SPECIFIC MANAGEMENT PRACTICES AND PROCEDURES TO ENSURE THE POST-ISSUANCE COMPLIANCE OF ITS TAX-EXEMPT BOND LIABILITIES ON DECEMBER 4, 2013. SCHEDULE K, PART IV, LINE 2C THE DATE THE REBATE COMPUTATION WAS PERFORMED: 1/19/2012 SCHEDULE K, PART IV, LINE 4E PART IV, LINE 4E: ACCORDING TO ITS TERMS, THE HEDGE TERMINATED ON FEBRUARY 28, 2010. SCHEDULE K, PART IV, LINES 5B AND 5C LINES 5B AND 5C: A PORTION OF GROSS PROCEEDS WAS INVESTED IN FOUR GICS: 1. GIC PROVIDER: DEPFA BANK PLC; TERM OF GIC: 10.5 YEARS -------------------------------------------------------------------- 2. GIC PROVIDER: TRANSAMERICA OCCIDENTAL LIFE INSURANCE COMPANY, TERM OF GIC: 1.5 YEARS -------------------------------------------------------------------- 3. GIC PROVIDER: TRANSAMERICA OCCIDENTAL LIFE INSURANCE COMPANY, TERM OF GIC: 1.4 YEARS -------------------------------------------------------------------- 4. GIC PROVIDER: TRANSAMERICA OCCIDENTAL LIFE INSURANCE COMPANY, TERM OF GIC: 2.5 YEARS GIC: 2.5 YEARS FORM 990 REVIEW PROCESS-FORM 990, PART VI, B, LINE 11A THE ORGANIZATION'S FORM 990 IS REVIEWED BY THE CFO, CEO, ACCOUNTING DIRECTOR AND MEMBERS OF THE FINANCE COMMITTEE. CHANGES ARE MADE, IF APPLICABLE, AND A COPY OF THE REVIEWED FORM 990 IS DISTRIBUTED TO BOARD MEMBERS PRIOR TO FILING. CONFLICT OF INTEREST POLICY-PART VI, B, 12C THE ORGANIZATION HAS A CONFLICT OF INTEREST POLICY WHICH DEFINES A CONFLICT OF INTEREST, EXPLAINS HOW DISCLOSURE OF POTENTIAL CONFLICTS SHOULD BE FACILITATED AND THE PROCEDURES TO MANAGE CONFLICTS. ANNUALLY, BOARD MEMBERS ARE REQUIRED TO REAFFIRM IN WRITING THEIR INTEREST TO CONTINUE ON THE BOARD AND THEIR KNOWLEDGE OF OUR CONFLICT OF INTEREST POLICY AND RECUSAL FORM IF THEY PERCEIVE THEY MAY HAVE A POTENTIAL CONFLICT. COMPENSATION POLICY-PART VI, B, 15A and 15B THE ORGANIZATION HAS A COMPENSATION POLICY FOR OFFICERS AND KEY EMPLOYEES WHICH OUTLINES THE REVIEW AND APPROVAL PROCESS, THE USE OF COMPARABLE DATA AND THE RECORDING OF COMPENSATION DECISIONS. THE COMPENSATION COMMITTEE OF THE BOARD REVIEWS AND APPROVES RECOMMENDATIONS OF COMPENSATION FOR KEY EMPLOYEES, COMPARABLE MARKET DATA AND LENBROOK'S COMPENSATION PLAN. INFORMATION AVAILABLE TO PUBLIC-FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION PROVIDES A COPY OF GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS TO THE PUBLIC UPON REQUEST. DOCUMENTS ARE MADE AVAILABLE BY ARRANGEMENT WITH THE INDIVIDUAL REQUESTING THE DOCUMENTS. CHANGE IN ACCOUNTING PRINCIPLE-FORM 990, PART XI DURING 2012, FASB ACCOUNTING STANDARDS CODIFICATION ("ASC") 954 WAS CLARIFIED, WHICH CHANGED CERTAIN PRIOR GUIDANCE FOR THE ACCOUNTING FOR REFUNDABLE ENTRANCE FEES. UNDER THE PRE-CLARIFIED GUIDANCE IN FASB ASC 954, ENTRANCE FEES WERE DIVIDED INTO 2 CATEGORIES: 1) NON-REFUNDABLE OR DECLINING REFUND, WHICH ARE CLASSIFIED AS DEFERRED REVENUE AND AMORTIZED INTO INCOME ACCORDINGLY AND 2) REFUNDABLE PORTION AND 100% FULLY REFUNDABLE FEES, WHICH ARE REPORTED AS LIABILITIES AND NOT AMORTIZED INTO INCOME. THE GUIDANCE INCLUDED A PROVISION THAT STATED "THE PORTION OF REFUNDABLE ENTRANCE FEES THAT WILL BE REPAID TO CURRENT RESIDENTS ONLY TO THE EXTENT OF THE PROCEEDS OF RE-OCCUPANCY OF A CONTRACT HOLDER'S UNIT SHALL BE ACCOUNTED FOR AS DEFERRED REVENUE, PROVIDED THAT LEGAL AND MANAGEMENT POLICY AND PRACTICE SUPPORT THE WITHHOLDING OF REFUNDS UNDER THIS CONDITION." THIS PROVISION IS BY WHICH THE FOUNDATION HAS TREATED THE REFUNDABLE PORTION OF ENTRANCE FEES AS DEFERRED REVENUE AND BEEN AMORTIZING THE AMOUNTS INTO INCOME, BECAUSE IT IS EXPRESSLY INCLUDED IN THE RESIDENT AGREEMENT. THE CLARIFICATION IN FASB ASC 954 OF THE ABOVE DESCRIBED PROVISION ADDS THAT NOT ONLY MUST THE RESIDENT AGREEMENT INCLUDE WORDING THAT THE REFUND IS GIVEN AFTER THE UNIT IS REOCCUPIED, BUT IT MUST ALSO EXPLICITLY STATE THAT THE REFUND IS ALSO LIMITED TO THE PROCEEDS FROM RE-OCCUPANCY OF THE UNIT. OTHERWISE, THE REFUNDABLE PORTION OF A RESIDENT'S ADVANCE FEE MUST BE CARRIED AS A LIABILITY THAT IS NOT AMORTIZED INTO INCOME. PRIOR TO THE CLARIFICATION, REFUNDABLE FEES WERE ACCOUNTED FOR ON THE STATEMENT OF FINANCIAL POSITION UNDER THE TITLE DEFERRED REVENUES FROM ADVANCE FEES AND AMORTIZED INTO INCOME OVER THE REMAINING USEFUL LIFE OF THE BUILDING. THE FOUNDATION ADOPTED THE CLARIFIED PROVISIONS OF FASB ASC 954 AS OF THE STATED EFFECTIVE DATE (FISCAL YEAR BEGINNING AFTER DECEMBER 15, 2012, WHICH, FOR THE FOUNDATION, IS THE YEAR ENDED JUNE 30, 2014), AND, PER THE REQUIREMENTS OF THE STATEMENT, HAS APPLIED THE CHANGES RETROSPECTIVELY WITH A CUMULATIVE ADJUSTMENT TO OPENING UNRESTRICTED NET ASSET DEFICIENCY AS OF THE BEGINNING OF THE EARLIEST PERIOD PRESENTED IN THE FINANCIAL STATEMENTS, JULY 1, 2012. UPON ADOPTION, CERTAIN REFUNDABLE FEES THAT WERE PREVIOUSLY RECOGNIZED IN REVENUES HAVE BEEN RECAPTURED AS A PART OF THE ENDING LIABILITY BALANCE AND ARE NO LONGER AMORTIZED INTO INCOME. THE EFFECT WAS TO INCREASE THE LIABILITY AND INCREASE UNRESTRICTED NET ASSET DEFICIENCY BY $28,132,483 AS OF JULY 1, 2012. ADDITIONALLY, THE PREVIOUSLY ISSUED 2013 FINANCIAL STATEMENTS HAVE BEEN RESTATED TO REDUCE REPORTED REVENUES BY $4,919,059 AND TO INCREASE THE REPORTED LIABILITY BY $33,051,542. CHARITABLE REMAINDER TRUST (1) INVESTMENT GA DL HagertyTtee false false false false false false false false false false false false false false false false false false