2015-07-27T08:28:55-07:00 2014-12-31 990 2014-01-01 412273452 PHI GROUP RETURN PHIG 7175028840 One Trinity Drive East Suite 201 Dillsburg PA 170198522 Jeffrey Davis Senior Vice-President and CFO 7175028840 2015-08-10 2014 2016-03-07 17:11:31Z Presbyterian Senior Living Stephen Proctor One Trinity Drive East Suite 201 Dillsburg PA 170198522 214045254 1 1 3292 X www.presbyterianseniorliving.org X 1927 PA To offer Christian understanding, compassion and a sense of belonging to promote wholeness of body, mind and spirit. 16 16 3359 1802 -42563 0 1900745 5110012 195191550 184166718 6508572 5033294 -3878 262218 203596989 194572242 0 0 0 0 92228558 88557624 0 0 722161 98720571 94327714 190949129 182885338 12647860 11686904 473394657 506968318 371524184 379208896 101870473 127759422 Offer Christian understanding, compassion and a sense of belonging to promote wholeness of body, mind and spirit. 0 0 136622198 0 186553947 The organizations within the PHI group form a network of communities and services that meet the diverse needs of seniors in Pennsylvania, Maryland, Delaware, and southeastern Ohio. The organizations foster and sponsor living facilities to provide housing, as well as a full range of healthcare and other related community services for the elderly. 26698777 0 1214897 The organizations within the PHI group provide services without charge or at amounts less than their established rates to residents who meet certain criteria under PHI's subsidized care policy. Because the organizations do not pursue collection of amounts determined to qualify as subsidized care, they are not reported as revenue. In addition, the organizations consider contractual allowances subsidized care. Charity care provided at the estimated cost, net of amounts received by residents and third party payors approximated $3.3 million. Additional benevolent care provided at amounts less than pre-established charges for private pay services approximated $25 million. (1267 clients) 0 0 0 163320975 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 1 1 1 0 0 1 576 0 1 3359 1 1 1 1 CJ IN JE LU 0 0 0 0 X 16 16 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 1 1 DE MD OH PA X Jeffrey J Davis 7175028840 One Trinity Drive East Suite 201 Dillsburg PA 170198522 Ann Fedorchak Chair 4 1 X X 0 0 0 Thomas Beaver III Vice Chair 4 1 X X 0 0 0 Anne Drennan Board Member 4 1 X 0 0 0 John Fargnoli Board Member 4 1 X 0 0 0 George Glen Board Member 4 1 X 0 0 0 Alf Halvorson Board Member 4 1 X 0 0 0 Robert Hormell Board Member 4 1 X 0 0 0 Sharon Kelly Board Member 4 1 X 0 0 0 LeRoy Maxwell Board Member 4 1 X 0 0 0 Susan McCarter Board Member 4 1 X 0 0 0 Philip Miller Board Member 4 1 X 0 0 0 Thomas Paisley Board Member 4 1 X 0 0 0 Carol Parham Board Member 4 1 X 0 0 0 Kathy Pearson Board Member 4 1 X 0 0 0 Susan Weiss Board Member 4 1 X 0 0 0 David Wolff Board Member 4 1 X 0 0 0 Stephen Proctor President and Chief Executive Officer 40 0 X X 0 486246 22325 MaryAnne Adamczyk Assistant Secretary/ Sr. VP Corp. Relations 40 0 X X 0 390773 13965 Jeffrey J Davis Treasurer/Senior VP and Chief Financial Officer 40 0 X X 0 308457 21725 Donna Casner Assistant Treasurer/VP & Controller 40 0 X X 0 199399 11585 Nancy Deibler Board Secretary/Executive Administrative Assistant 40 0 X 0 60870 8063 James Bernardo Chief Operating Officer 40 0 X 0 312690 9527 Danny Davis Jr VP of Operations-Continuing Care Communities 40 0 X 0 187185 17578 Diane Burfeindt VP of Operations-Affordable Properties 40 0 X 0 179405 21416 Victoria Hess VP Sales and Marketing 40 0 X 0 183108 5990 Laurel Shaffer VP Missions Support 40 0 X 0 126371 12517 Shawn Colbert Director of Housing Operations 40 0 X 134132 0 10163 Elsie Josiah SNF Director of Nursing 40 0 X 133227 0 4468 Charles Gergits Assistant Executive Director 40 0 X 115753 0 18790 Jessica Coover Director of Nursing 40 0 X 111680 0 3860 Jill Flasher Administrator 40 0 X 108852 0 9282 603644 2434504 191254 9 0 1 0 Benchmark Construction Company Inc PO Box 806 4121 Oregon Pike Brownstown PA 17508 Construction 14694087 Genesis Rehabilitation Services 101 E State Street Kennett Square PA 19348 Therapy 5887185 CURA Hospitality Inc 2970 Corporate Court Ste 5 Orefield PA 18069 Food Services 5834286 Ralph J Albarano and Sons Inc 18730 Old Route 22 PO Box 806 Duncansville PA 16635 Construction 5562915 Sodexo Inc & Affiliates PO Box 360170 Pittsburgh PA 15251 Food services 5496487 72 0 0 95713 0 48911 4965388 35180 5110012 Resident Service Revenue 623000 110266011 110266011 0 0 Medicare and Medicaid Payments 623000 73900707 73900707 0 0 0 0 0 0 184166718 3318131 3360694 -42563 0 0 0 0 0 241432 241432 0 0 0 0 20957276 175122 19318798 98437 1638478 76685 1715163 0 0 1715163 76563 95713 55777 20786 0 20786 0 194572242 187768844 -42563 1735949 0 0 0 0 0 0 0 0 603644 244907 358737 0 0 0 0 0 69343289 64123782 5219507 0 1467861 1357374 110487 0 12106819 11121455 985364 0 5036011 4703202 332809 0 14677538 13123637 831740 722161 56681 0 56681 0 32250 0 32250 0 0 0 0 0 0 0 337091 0 337091 0 15484783 14650209 834574 0 600413 1242 599171 0 15774797 12936610 2838187 0 1846692 1736629 110063 0 0 0 0 0 12280659 11615541 665118 0 513022 357345 155677 0 0 0 0 0 3661 3661 0 0 6142516 5776453 366063 0 0 0 0 0 15426734 14507301 919433 0 1678604 1319296 359308 0 Bad debt expense 3729487 0 3729487 0 Pharmacy Costs 3136084 3136084 0 0 Medical Supplies 2606247 2606247 0 0 Miscellaneous 455 0 455 0 0 0 0 0 182885338 163320975 18842202 722161 37575 33350 3710257 2560550 179359 1072685 21567305 23401672 0 0 0 0 0 0 357117 315810 2049784 3140340 555630014 248948746 289447208 306681268 63349111 80084257 0 0 0 0 0 0 92696941 89678386 473394657 506968318 28968642 25137270 0 0 53279417 61261877 201777216 193304679 0 0 0 0 31521373 38307924 11420443 20541302 44557093 40655844 371524184 379208896 X 78442000 103332057 2967454 3742162 20461019 20685203 101870473 127759422 473394657 506968318 X 11686904 -852332 0 0 8617139 6437238 X 0 1 X 1 1 1 X 3208544 1679341 2996361 1900745 5130798 14915789 174322650 184229320 188736954 195191550 184166718 926647192 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 177531194 185908661 191733315 197092295 189297516 941562981 9460 19251 42360 89325 56478 216874 0 0 0 0 0 0 9460 19251 42360 89325 56478 216874 941346107 2561435 1961087 3230149 3153739 3318131 14224541 0 0 9875 7582 0 17457 2561435 1961087 3240024 3161321 3318131 14241998 0 0 0 0 0 0 0 0 0 0 0 0 180092629 187869748 194973339 200253616 192615647 955804979 0.98487 0.98517 0.01490 0.01463 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5270885 207984 86539 0 46424 0 5518984 5202097 137760 85055 0 154027 0 5270885 5064146 220772 83668 0 166489 0 5202097 5016923 87605 113413 0 153795 0 5064146 4705040 296720 111052 0 95889 0 5016923 0 0.95 0.05 0 0 0 42065053 42065053 0 408180107 189301779 218878328 0 0 0 0 0 49189219 41002052 8187167 0 56195635 18644915 37550720 306681268 Restricted deposits and funded reserves 11030775 Assets whose use is limited 16457493 Assets held for sale 39724 Assets under capital lease 577642 Goodwill 1715000 Funds held in trust by others 15273801 Deferred financing costs 2802412 Other assets 24182 Due from parent 41757357 89678386 0 Resident deposits 1296870 Fair value of interest rate hedge 277664 Obligations under capital lease 588393 Annuities payable 987235 Entrance fee payable 37505682 40655844 X Schedule D, Part V, Line 4 Endowment funds consist of donor restricted funds established for a variety of purposes supporting the Corporation. This includes, but is not limited to, charity care. Schedule D, Part X, Line 2 The Corporation follows the Financial Accounting Standards Board (FASB) accounting standard for accounting for uncertainty in income taxes. This standard clarifies the accounting for uncertainty in income taxes in a company's consolidated financial statements and prescribes a recognition threshold of more-likely-than-not to be sustained upon examination by the appropriate taxing authority. Measurement of the tax uncertainty occurs if the recognition threshold has been met. The standard also provides guidance on derecognition, classification, interest and penalties, and disclosure. Management has determined that this standard does not have a material impact on the consolidated financial statements. Ware Showhouse 59691 39295 20396 0 700 5148 0 4044 8314 The Long Gala 57157 28300 28857 0 0 0 9626 1900 7325 4 55428 28118 27310 0 1917 7756 4175 1100 3771 172276 95713 76563 0 2617 12904 13801 7044 19410 55776 20787 X X X 0 0 0 1 1 1 1 0 0 Stephen Proctor President and Chief Executive Officer 0 445245 0 36550 0 4451 0 7800 0 14525 0 508571 0 0 Jeffrey J Davis Treasurer/Senior VP and Chief Financial Officer 0 268671 0 21769 0 18017 0 7800 0 13925 0 330182 0 13438 MaryAnne Adamczyk Assistant Secretary/ Sr. VP Corp. Relations 0 231692 0 18505 0 140576 0 7017 0 6948 0 404738 0 135875 James Bernardo Chief Operating Officer 0 285446 0 22619 0 4625 0 7800 0 1727 0 322217 0 0 Donna Casner Assistant Treasurer/VP & Controller 0 165742 0 33313 0 344 0 5038 0 6547 0 210984 0 0 Danny Davis Jr VP of Operations-Continuing Care Communities 0 172306 0 13770 0 1109 0 5345 0 12233 0 204763 0 0 Diane Burfeindt VP of Operations-Affordable Properties 0 164733 0 13479 0 1193 0 5160 0 16256 0 200821 0 0 Victoria Hess VP Sales and Marketing 0 165977 0 12827 0 4304 0 4979 0 1011 0 189098 0 0 Schedule J, Part I, Line 3 Every year, the salary for the CEO is determined based on comparative data from Leading Age's sponsored salary survey called CEMO Leadership Compensation Survey. The recommended salary is then approved by the Board of Directors. Schedule J, Part I, Line 5 Executive staff is given an incentive plan based on financial goals, growth and development goals, as well as, quality and resident and employee satisfaction goals. These goals need to be met not only at the corporate level, but also at a percentage of the related organizations. Presbyterian Senior Living must meet operating margin targets which exceed plan in total at both the corporate and at a majority of the facilities. Schedule J, Part I, Line 6 Executive staff is given an incentive plan based on financial goals, growth and development goals, as well as, quality and resident and employee satisfaction goals. These goals need to be met not only at the corporate level, but also at a percentage of the related organizations. Presbyterian Senior Living must meet operating margin targets which exceed plan in total at both the corporate and at a majority of the facilities. A Cumberland County Municipal Authority Revenue Bond 2008A 236003119 230614DN6 2008-06-05 17415000 Complete description on Part V - Supplemental information 0 0 0 B College Township Industrial Development Authority 251247551 000000000 2005-09-27 3800000 Complete description on Part V - Supplemental information 0 0 0 C Cumberland County Municipal Authority Revenue Bonds 2008B 236003119 230614DQ9 2008-06-05 45000000 Complete description on Part V - Supplemental information 0 0 0 D Cumberland County Municipal Authority Revenue Bonds Series 2008C 236003119 230614DR7 2008-11-19 15685000 Complete description on Part V - Supplemental information 0 0 0 A 10755000 0 17460477 1880161 2911570 0 273586 0 0 16064671 0 0 2009 0 0 1 1 B 1164402 0 3800000 0 0 0 74885 0 0 3725115 0 0 2006 0 0 1 1 C 20000000 0 45002673 1713766 0 0 595066 0 0 9656399 0 0 2008 1 0 1 1 D 700000 0 15685000 0 0 0 338251 0 0 0 0 0 2008 1 0 1 1 A 0 0 0 0 0 0 0 0 1 0.0115 1 1 B 0 0 0 0 0 0 0 0 1 0.0115 1 1 C 0 0 0 0 0 0 0 0 1 0.0115 1 1 D 0 0 0 0 0 0 0 0 1 0.0115 1 1 A 1 0 0 0 0 1 B 1 0 0 0 0 1 C 1 1 1 Wells Fargo for 10 million dollars from June 08 to June 15 7 0 0 0 0 1 D 1 1 0 0 0 1 A 1 B 1 C 1 D 1 Schedule K, Part I, Column f-06/05/2008 17,415,000 Cumberland County Municipal Authority The proceeds of the Cumberland County Municipal Authority Revenue Bonds Series 2008A were used to finance $15,431,875 of capital improvements, fund the debt service reserve fund and pay the costs of issuance of the 2008A bonds. Schedule K, Part I, Column f-09/27/2005 3,800,000 College Township Industrial Development Authority The proceeds of the College Township Industrial Development Authority Mortgage Revenue Note Series 2005 were used to acquire, construct, and equip an 18-bed personal care facility, to renovate and improve the existing 120-bed skilled nursing facility and to pay the costs of issuance of the Series 2005 Note. Schedule K, Part I, Column f-06/05/2008 45,000,000 Cumberland County Municipal Authority The proceeds of the Cumberland County Municipal Authority Revenue Bonds Series 2008B were used to refund all of the Kirkland Village Northampton County Series 1998 and 2002 bonds, finance capital improvements of $9,656,399 and pay the costs of issuance of the 2008B Bonds. Schedule K, Part I, Column f-11/19/2008 15,685,000 Cumberland County Municipal Authority The proceeds from the Cumberland County Municipal Authority Variable Rate Revenue Bonds Series 2008C were used to refund all of the Presbyterian Homes Cumberland County 2005B Series Bonds and pay the cost of issuance of the 2008C bonds. A Cumberland County Municipal Authority Revenue Bonds Series 2003B 236003119 230614BR9 2003-01-21 9000000 Complete description on Part V - Supplemental information 0 0 0 B Cumberland County Municipal Authority Revenue Bonds 2005A 236003119 230614CF4 2005-12-14 17077853 Complete description on Part V - Supplemental Information 0 0 0 C Kent County DE Economic Development Revenue Refunding Bonds Series 2003 516000145 000000000 2003-11-06 10000000 Complete description on Part V - Supplemental information 0 0 0 D York County Industrial Development Authority Bonds Series 2010 237045116 000000000 2010-09-09 20000000 Complete description on Part V - Supplemental information 0 0 0 A 1830000 0 9008202 19718 0 0 205352 0 0 8794648 0 0 2005 0 0 1 1 B 3507853 0 17175682 3098617 0 0 1480660 0 0 0 0 19202 2005 0 1 1 1 C 6884637 0 10000000 0 0 0 0 0 0 0 0 0 2003 1 0 1 1 D 1143856 0 20000000 0 0 0 295666 0 0 19704334 0 0 2011 0 0 1 1 A 0 0 0 0 0 0 0 0 1 0.0115 1 1 B 0 0 0 0 0 0 0 0 1 0.0115 1 1 C 0 0 0 0 0 0 0 0 1 0.0115 1 1 D 0 0 0 0 0 0 0 0 1 0.0115 1 1 A 1 1 0 0 0 1 B 1 1 0 0 0 1 C 1 1 1 Bank of America for approximately 3 million from Nov 2008 to Oct 2018 9.92 0 0 0 0 1 D 0 1 1 0 0 0 0 0 1 A 1 B 1 C 1 D 1 Schedule K, Part I, Column f-01/21/2003 9,000,000 Cumberland County Municipal Authority The Cumberland County Municipal Authority Variable Rate Revenue Bonds Series 2003B were used to fund $8,825,000 of capital improvements, and to pay the costs of issuance of the 2003B Bonds. Schedule K, Part I, Column f-12/14/2005 17,077,853 Cumberland County Municipal Authority The Cumberland County Municipal Authority Variable Rate Revenue Bonds Series 2005A were used to advance refund all of the Issuers' Revenue Bonds, Series 1996, for certain capital expenditures, to fund a debt service reserve fund and to pay the costs of issuance of the 2005A Bonds. Schedule K, Part I, Column f-11/06/2003 10,000,000 Kent County DE Economic Development The proceeds from the Kent County DE Economic Development Revenue Refunding Bonds Series 2003 were used to refund all of the remaining Kent County DE Economic Development Revenue Bonds Series 1996 and 1998. Schedule K, Part I, Column f-09/09/2010 20,000,000 York County Industrial Development Authority The proceeds from the York County Industrial Development Authority Bonds Series 2010 were used to construct 24 independent living villas, a community center, purchase 80 acres of undeveloped land adjacent to the campus and other capital expenditures at Westminster Woods Huntingdon, construct a new senior living campus adjacent to Bloomsburg Hospital, purchase 13 acres of land to construct a new senior living campus to include two independent living apartment buildings containing 110 apartments and a 32 unit assisted living building in Lancaster County, complete the construction of a 41 unit independent living apartment building, construct a new town center building and other capital expenditures in York County, and to construct and equip a 90 unit independent living center with dining and social space, renovate the existing facilities and other miscellaneous capital expenditures at Ware Presbyterian Village. A Township of Manheim General Municipal Authority Bonds Series 2012 232583622 000000000 2012-09-14 10000000 Complete description on Part V-Supplemental Information 0 0 0 B Township of Manheim General Municipal Authority Bonds Series 2011 232583622 000000000 2011-12-22 10000000 Complete description on Part V - Supplimental Information 0 0 0 C Quincy Sewer Authority Revenue Bonds Series 2012 251796914 000000000 2012-08-15 10000000 Complete description on Part V - Supplemental information 0 0 0 D Cumberland County Municipal Authority Revenue Bonds Series 2013A 236003119 000000000 2013-06-10 6563290 Complete description on Part V - Supplemental information 0 0 0 A 876869 0 10000170 0 82791 0 0 0 0 10000170 0 0 2013 0 0 1 1 B 1100630 0 10000000 0 104215 0 0 0 0 9895785 0 0 2012 0 0 1 1 C 856483 0 9932314 0 148562 0 59225 0 0 2270754 6700482 961078 2013 1 0 0 1 D 37500 0 6563290 0 0 0 71746 0 0 0 0 0 2013 1 0 1 1 A 0 0 0 0 0 0 0 0 1 0.0115 1 1 B 0 0 0 0 0 0 0 0 1 0.0115 1 1 C 0 0 0 0 0 0 0 0 1 0.0115 1 1 D 0 0 0 0 0 0 0 0 1 0.0115 1 1 A 0 1 1 0 0 0 0 0 1 B 0 1 1 0 0 0 0 0 1 C 0 1 1 0 0 0 0 0 1 D 0 1 1 0 0 0 0 0 1 A 1 B 1 C 1 D 1 Schedule K, Part I, Column f-09/14/2012 10,000,000 Township of Manheim General Municipal Authority The proceeds from the General Municipal Authority of the Township of Manheim Bonds Series 2012 are being used to construct two independent living apartment buildings containing approximately 108 apartments in total, construction of an assisted living building containing approximately 32-units and miscellaneous capital expenditures all in connection with the project. Schedule K, Part I, Column f-12/22/2011 10,000,000 Township of Manheim General Municipal Authority The proceeds from the General Municipal Authority of the Township of Manheim Revenue Bonds Series 2011 were used to construct two buildings at the Long Community of Highland. One was a market rate independent living unit and the other was a personal care and independent living facility. Schedule K, Part I, Column f-08/15/2012 10,000,000 Quincy Sewer Authority The proceeds from the Quincy Sewer Authority Revenue Bonds Series 2012 were used to pay off the Quincy Village 2007 note and expansion of the Quincy Village campus. Schedule K, Part I, Column f-06/10/2013 6,563,290 Cumberland County Municipal Authority The proceeds from the Cumberland County Municipal Authority Revenue Bonds 2013 Series A and B were used to refund all of the Cumberland County Municipal Authority Revenue Bonds Series 2003A and a portion of the Cumberland County Municipal Authority Revenue Bonds Series 2008A and to pay the costs of issuance of the 2013 A and B bonds. A Cumberland County Municipal Authority Revenue Bonds Series 2013B 236003119 000000000 2013-06-10 5032136 Complete description on Part V - Supplemental Information 0 0 0 B Indiana County Industrial Development Authority Revenue Bonds Series 2013 251782229 000000000 2013-11-15 10000000 Complete description on Part V - Supplimental information 0 0 0 C Uwchlan Township Industrial Development Authority Revenue Bonds Series 2013 651225907 000000000 2013-06-28 10000000 Complete description on Part V - Supplemental Information 0 0 0 D Northampton County Industrial Development Authority Revenue Bonds Series 2014 231971754 000000000 2014-06-11 10000000 Complete description on Part V - Supplemental Information 0 0 0 A 331250 0 5032136 0 0 0 42136 0 0 0 0 0 2013 1 0 1 1 B 381582 0 10025781 0 1142213 0 56267 0 0 7007637 0 2890663 2014 0 0 0 1 C 496816 0 10004902 0 174605 0 109238 0 0 9895665 0 0 2013 0 0 1 1 D 33500 0 10000000 0 0 0 0 0 0 0 0 0 2014 1 0 1 1 A 0 0 0 0 0 0 0 0 1 0.0115 1 1 B 0 0 0 0 0 0 0 0 1 0.0115 1 1 C 0 0 0 0 0 0 0 0 1 0.0115 1 1 D 0 0 0 0 0 0 0 0 1 0.0115 1 1 A 0 1 1 0 0 0 0 0 1 B 0 1 1 0 0 0 0 0 1 C 0 1 1 0 0 0 0 0 1 D 0 1 1 0 0 0 0 0 1 A 1 B 1 C 1 D 1 Schedule K, Part I, Column f-06/10/2013 5,032,136 Cumberland County Municipal Authority The proceeds from the Cumberland County Municipal Authority Revenue Bonds 2013 Series A and B were used to refund all of the Cumberland County Municipal Authority Revenue Bonds Series 2003A and a portion of the Cumberland County Municipal Authority Revenue Bonds Series 2008A and to pay the costs of issuance of the 2013 A and B bonds. Schedule K, Part I, Column f-11/15/2013 10,000,000 Indiana County Industrial Development Authority The proceeds of the Indiana County Industrial Development Authority Revenue Bonds Series 2013 were used for capital improvements at Saint Andrew's Village and to pay a portion of the costs of issuing the Series of 2013 bonds. Schedule K, Part I, Column f-06/28/2013 10,000,000 Uwchlan Township Industrial Development Authority The proceeds of the Uwchlan Township Industrial Development Authority Revenue Bonds Series 2013 were used to construct and furnish approximately 62 additional independent living apartments and 23 independent living cottages with dining and social spaces and renovate the existing facilities of Ware Presbyterian Village, and pay a portion of the costs of issuing the bonds. Schedule K, Part I, Column f-06/11/2014 10,000,000 Northampton County Industrial Development Authori The proceeds of the Northampton County Industrial Development Authority Revenue Bonds Series 2014 were used to refund a portion of the Cumberland County Municipal Authority Revenue Bonds Series 2008B. A Blair County Hospital Authority Revenue Bonds Series 2014 251352705 000000000 2014-06-11 10000000 Complete description on Part V - Supplemental Information 0 0 0 A 33500 0 10000000 0 0 0 0 0 0 0 0 0 2014 1 0 1 1 A 0 0 0 0 0 0 0 0 1 0.0115 1 1 A 0 1 1 0 0 0 0 0 1 A 1 Schedule K, Part I, Column f-06/11/2014 10,000,000 Blair County Hospital Authority The proceeds of the Blair County Hospital Revenue Bonds Series 2014 were used to refund a portion of the Cumberland County Municipal Authority Revenue Bonds Series 2008B. Robert Hormell PSL board member and First National Bank board member 1908245 Repayment of loan by member of group to First National Bank 0 David Wolff PSL board member and VP of Kressler, Wolff and Miller, Inc. 40000 Consulting services provided by Kressler, Wolff and Miller, Inc. Kressler, Wolff and Miller also provide insurance policies for PSL for life insurance, and short-term and long-term disability insurance, but David does not earn commission on any of these policies. 0 X 4 7470 Fair Market Value X 4538 Fair Market Value X 1 12544 Blue Book Value X 1 4486 Purchase Price X 7 1877 Purchase Price X Printing 12 2375 Purchase Price X Gift Cards 10 175 Purchase Price X Maintenance Services 1 315 Purchase Price X Landscaping 1 1400 Purchase price 0 0 1 0 Form 990, Part VI, Section B, Line 11b A copy of the 990 was provided to the organization's audit committee prior to the submission. It was reviewed in detail prior to the audit committee meeting by the Chief Financial Officer and other top executives. Form 990, Part VI, Section B, Line 12c The compliance department annually reviews the conflict of interest disclosures remitted from the officers, directors and key employees to update and monitor any changes that could cause a potential conflict of interest. Form 990, Part VI, Section B, Line 15 Every year, salaries for executives are determined based on comparative data from Leading Age's sponsored salary survey called CEMO Leadership Compensation Survey. These salaries are then approved by the Board of Directors. For highest paid employees, salaries are set during the yearly budgeting process by the executive directors of each facility in conjunction with the Controller and Chief Financial Officer. These wages are also compared to market studies and are approved, in total, by the board. Form 990, Part VI, Section C, Line 19 Presbyterian Senior Living and all of its affiliates are working hard to promote transparency. Therefore, current month/quarterly financial statements are posted right on the PSL website, along with census and year end audits. Its governing documents and conflict of interest policy are made available to the public upon request. Form 990, Part XI, Line 9 Decrease in fair value of interest rate swaps $436,638, loss on early extinguishment of debt ($108,203), gain on discontinued operation $6,103,488, equity from tax credit partner $2,601 and transfer of investments from parent $2,714. PHI dba Presbyterian Senior Living One Trinity Drive East Suite 201 Dillsburg PA 17019 231381404 Parent management company PA 501(c)(3) 9 N/A 0 Schartner House Associates LP One Trinity Drive East Suite 201 Dillsburg PA 17019 204747882 Low income housing PA Schartner House Inc Related -40 -257 0 0 0 0.0001 Westminster Place at Parkesburg LP One Trinity Drive East Suite 201 Dillsburg PA 17019 208766428 Low income housing PA Westminster Place at Parkesburg Inc Related -68 59314 0 0 0 0.0001 Westminster Place at Windy Hill Village LP I One Trinity Drive East Suite 201 Dillsburg PA 17019 270683872 Low income housing PA Westminster Place at Windy Hill Village Inc Related -25 3004491 0 0 0 0.0001 Westminster Place at Carroll Village LP I One Trinity Drive East Suite 201 Dillsburg PA 17019 270488126 Low income housing PA Westminster Place at Carroll Village Inc Related -30 1007776 0 0 0 0.0001 Westminster Place at Bloomsburg LP One Trinity Drive East Suite 201 Dillsburg PA 17019 900536078 Low 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Related -10 -58266 0 0 0 0.0001 Shrewsbury Courtyards II Associates One Trinity Drive East Suite 201 Dillsburg PA 17019 233056691 Low income housing PA Westminster Place at Shrewsbury Courtyards II Associates GP Inc Related -11 -76690 0 0 0 0.0001 Shrewsbury Courtyards Associates Limited Partnership One Trinity Drive East Suite 201 Dillsburg PA 17019 251767781 Low income housing PA Westminster Place at Shrewsbury Courtyard Associates GP Inc Related -31 -122962 0 0 0 0.5 S Overlook LP One Trinity Drive East Suite 201 Dillsburg PA 17019 752991115 Low income housing PA Westminster Place at S Overlook GP Inc Related -14 -295529 0 0 0 0.0001 Stony Brook Gardens LP One Trinity Drive East Suite 201 Dillsburg PA 17019 203703666 Low income housing PA Westminster Place at Stony Brook Gardens GP Inc Related -30 -311171 0 0 0 0.0001 Ross Presbyterian Senior Housing LP One Trinity Drive East Suite 201 Dillsburg PA 17019 352467867 Low income housing PA Ross Presbyterian GP LLC Related 24115 24115 0 0 0 0.0001 Wisteria Commons Senior Housing LP One Trinity Drive East Suite 201 Dillsburg PA 17019 743169417 Low income housing PA The Shepherds at Wisteria LLC PHI Wisteria Commons LLC Related -12 173851 0 0 0 0.0001 Northampton Place at Easton LP One Trinity Drive East Suite 201 Dillsburg PA 17019 300750353 Low income housing PA Northampton Place at Easton GP Related 0 0 0 0 0 0.0001 Westminster Place at Queen Street LP One Trinity Drive East Suite 201 Dillsburg PA 17019 461217566 Low income housing PA Westminster Place at Queen Street GP Inc Related 0 0 0 0 0 0.0001 Westminster Place at Ware Presbyterian Village LP One Trinity Drive East Suite 201 Dillsburg PA 17019 383852987 Low income housing PA Westminster Place at Ware Presbyterian Village GP Related 0 0 0 0 0 0.0001 Long Crest Senior Housing LP One Trinity Drive East Suite 201 Dillsburg PA 17019 320446143 Low income housing PA Long Crest Senior Housing GP Related 0 0 0 0 0 0.0001 Westminster Place at Windy Hill Village II LP One Trinity Drive East Suite 201 Dillsburg PA 17019 473008552 Low income housing PA Westminster Place at Windy Hill Village II GP Related 0 0 0 0 0 0.0001 Westminster Place at Huntingdon LP One Trinity Drive East Suite 201 Dillsburg PA 17019 273684236 Low income housing PA Westminster Place at Huntingdon GP Related 0 0 0 0 0 0.0001 Academy Place Senior Housing LP One Trinity Drive East Suite 201 Dillsburg PA 17019 900935098 Low income housing PA Academy Place GP LLC Related 0 0 0 0 0 0.0001 Oaks Senior Community LP One Trinity Drive East Suite 201 Dillsburg PA 17019 233018312 Low income housing PA The Shepherds in Monroe County Inc Related 1 -396 0 0 0 0.0002 PHI Services Inc One Trinity Drive East Suite 201 Dillsburg PA 17019 134357222 Advertising PA PHI dba Presbyterian Senoir Living C 0 0 1 0 Schartner House Inc 1271 Gettysburg Pike Dillsburg PA 17019 861161245 Low income housing PA PHI dba Presbyterian Senior Living C -40 -257 1 0 Westminster Place at Parkesburg Inc One Trinity Drive East Suite 201 Dillsburg PA 17019 208765826 Low income housing PA PHI dba Presbyterian Senior Living C -68 59314 1 0 Westminster Place at Windy Hill Village Inc One Trinity Drive East Suite 201 Dillsburg PA 17019 800438848 Low income housing PA PHI dba Presbyterian Senior Living C -25 3004491 1 0 Westminster Place at Carroll Village Inc One Trinity Drive East Suite 201 Dillsburg PA 17019 562642596 Low income housing PA PHI dba Presbyterian Senior Living C -30 1007776 1 0 Westminster Place at Bloomsburg GP Inc One Trinity Drive East Suite 201 Dillsburg PA 17019 010945558 Low income housing PA PHI dba Presbyterian Senior Living C -41 189924 1 0 Westminster Place at Stewartstown Inc One Trinity Drive East Suite 201 Dillsburg PA 17019 800499627 Low income housing PA PHI dba Presbyterian Senior Living C -54 110737 1 0 Westminster Place at the Long Community GP Inc One Trinity Drive East Suite 201 Dillsburg PA 17019 010945563 Low income housing PA PHI dba Presbyterian Senior Living C -71 1826243 1 0 Westminster Place at Quincy Village GP Inc One Trinity Drive East Suite 201 Dillsburg PA 17019 273684321 Low income housing PA PHI dba Presbyterian Senior Living C -76 224938 1 0 Westminster Place at Silver Spring Courtyards GP Inc One Trinity Drive East Suite 201 Dillsburg PA 17019 454799705 Low income housing PA PHI dba Presbyterian Senior Living C -8 266883 1 0 Westminster Place at SS Gardens GP Inc One Trinity Drive East Suite 201 Dillsburg PA 17019 454806531 Low income housing PA PHI dba Presbyterian Senior Living C -10 -58266 1 0 Westminster Place at Shrewsbury Courtyards II Associates GP Inc One Trinity Drive East Suite 201 Dillsburg PA 17019 462423186 Low income housing PA PHI dba Presbyterian Senior Living C -11 -76690 1 0 Westminster Place at Shrewsbury Courtyards Associates GP Inc One Trinity Drive East Suite 201 Dillsburg PA 17019 462414824 Low income housing PA PHI dba Presbyterian Senior Living C -31 -122962 1 0 Westminster Place at S Overlook GP Inc One 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0 0 0 0 0 0 0 1 0 0 0 PHI dba Presbyterian Senior Living p 2556864 Actual expenses paid