2015-10-30T09:32:07-05:00 2014-12-31 410746749 CLIFTONLARSONALLEN LLP 610 W GERMANTOWN PIKE STE 400 PLYMOUTH MEETING PA 19462 990 2014-01-01 232499121 WHITE HORSE VILLAGE INC WHIT 6105585000 535 GRADYVILLE RD NEWTOWN SQUARE PA 19073 JENNIFER SCHILPP VP OF FINANCE 6105585000 2015-10-29 1 BERNADETTE O'TOOLE CPA P00229258 2156433900 2014 2016-03-07 17:11:31Z JENNIFER SCHILPP 535 GRADYVILLE RD NEWTOWN SQUARE PA 19073 29556661 0 X WWW.WHITEHORSEVILLAGE.ORG X 1989 PA WE PROVIDE A FULL RANGE OF RETIREMENT LIFESTYLES ROOTED IN EXCELLENCE IN A VIBRANT COMMUNITY OF PEOPLE WHO CARE. 14 14 441 14 0 0 166512 176813 27875060 28285743 300460 429993 621480 664112 28963512 29556661 0 0 0 0 11502914 12171957 0 0 0 16302511 16995484 27805425 29167441 1158087 389220 97471961 100459012 108157196 112652160 -10685235 -12193148 WE PROVIDE A FULL RANGE OF RETIREMENT LIFESTYLES ROOTED IN EXCELLENCE IN A VIBRANT COMMUNITY OF PEOPLE WHO CARE. 0 0 21875600 28466743 WHITE HORSE VILLAGE, INC PROVIDES CARE UNDER LIFE CARE CONTRACTS TO APPROXIMATELY 500 ADULTS, ALL OVER THE AGE OF 62. UNDER THESE CONTRACTS, WHITE HORSE VILLAGE, INC. PROVIDES HOUSING, MEALS, UTILITIES, MAINTENANCE, AND CERTAIN MEDICAL SERVICES TO THESE RESIDENTS. 21875600 1 1 0 0 0 0 0 0 1 1 1 0 0 0 1 1 0 1 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 1 1 0 0 1 62 0 441 1 0 0 0 0 0 0 0 0 0 0 X 14 14 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X JENNIFER K SCHILPP VP OF FINANCE 6105585000 535 GRADYVILLE RD NEWTOWN SQUARE PA 19073 ALFRED F MEYER DIRECTOR 1.00 0.00 X 0 0 0 JOHN C SNYDER ESQ CHAIR 1.00 1.00 X X 0 0 0 MICHAEL J HAMMOND TREASURER 1.00 0.00 X X 0 0 0 AMY T CARPENTER DIRECTOR 1.00 0.00 X 0 0 0 ELEANOR C SMITH SECRETARY 1.00 1.00 X X 0 0 0 HOWARD L GREGG DIRECTOR 1.00 0.00 X 0 0 0 BRUCE D HOPPER DIRECTOR 1.00 1.00 X 0 0 0 DOUGLAS W NAKAJIMA VICE CHAIR 1.00 0.00 X X 0 0 0 ANN MARIE BROOKS DIRECTOR 1.00 0.00 X 0 0 0 JAMES H PYE DIRECTOR 1.00 0.00 X 0 0 0 JAY JAVIE DIRECTOR 1.00 0.00 X 0 0 0 BETTY LEHEW DIRECTOR 1.00 0.00 X 0 0 0 LARRY SHANE DIRECTOR 1.00 1.00 X 0 0 0 SHIRLEY WEAVER DIRECTOR 1.00 0.00 X 0 0 0 RENEE H MARTIN DIRECTOR 1.00 0.00 X 0 0 0 ANNE ANDERSON DIRECTOR 1.00 0.00 X 0 0 0 JOAN C FRANK DIRECTOR 1.00 1.00 X 0 0 0 MARY KATHRYN S BURKE PRESIDENT AND CEO 40.00 1.00 X 312420 0 11080 JENNIFER K SCHILPP VP FINANCE 40.00 1.00 X 205932 0 8025 MICHAEL A SCHEUREN VP ADMINISTRATION 40.00 1.00 X 143974 0 9099 ROBERT J HIGGINS VP PORPERTY & FACILITIES 40.00 0.00 X 144166 0 4946 DOROTHY L MALLON VP MARKETING/PR 40.00 1.00 X 134688 0 11789 ANNA GRZECZKOWSKI VP HEALTHCARE 40.00 0.00 X 136570 0 5284 TINA BOUKALIS SENIOR DIRECTOR RESIDENT SERVICES 40.00 0.00 X 118582 0 4559 1196332 0 54782 7 0 1 0 E ALLEN REEVES INC 1145 YORK ROAD ABINGTON PA 19001 CONSTRUCTION 1826895 JOHN MCALLISTER 129 BEECHWOOD ROAD NEWTOWN SQUARE PA 19073 CONSTRUCTION 1049697 HERMAN GOLDNER COMPANY INC 7777 BREWSTER AVENUE PHILADELPHIA PA 19153 HVAC CONTRACTOR 794743 MORRISON MANAGEMENT SPECIALISTS INC PO BOX 102289 ATLANTA GA 303682289 DINING/HSKPG MGT 756887 GENESIS REHABILITATION SERVICES PO BOX 7247-6524 PHILADELPHIA PA 19170 THERAPY 659193 14 176813 176813 RESIDENT CARE FEES 623000 15203336 15203336 MEDICAL CARE FEES 623000 8841126 8841126 AMORT OF DEFERRED ENTRY FEE 623000 4186931 4186931 RENTAL INCOME 623000 54350 54350 28285743 429993 429993 VIEW/OPTION CHARGE 812900 166200 166200 RESIDENT SERVICES 812900 115490 115490 CAFE REV. 722210 60071 60071 322351 14800 307551 664112 29556661 28466743 0 913105 537457 537457 9410547 7446694 1963853 120216 101366 18850 1388133 1044224 343909 715604 536703 178901 55989 41992 13997 49163 36872 12291 75500 56625 18875 222706 167030 55676 142939 107204 35735 4471692 3353769 1117923 12199 9149 3050 3515220 2636415 878805 10953 8215 2738 2061634 1546226 515408 4848380 3636285 1212095 274275 205706 68569 THERAPY 741576 556182 185394 MISC EXPENSES 289955 217466 72489 LICENSES AND FEES 223303 167477 55826 29167441 21875600 7291841 0 4227616 5105501 961802 2227883 80935 84714 703136 787674 140061413 60568962 78427036 79492451 12100199 12438780 971237 322009 97471961 100459012 2162671 2699564 52302846 56979958 43618042 41650149 574553 213020 9499084 11109469 108157196 112652160 X -10685235 -12193148 -10685235 -12193148 97471961 100459012 X 389220 81819 -1978953 X 0 1 X 1 0 X 214487 223386 57385 166512 176813 838583 23928739 24843476 27173817 27875060 28231393 132052485 24143226 25066862 27231202 28041572 28408206 132891068 214487 219601 57385 166512 176813 834798 0 214487 219601 57385 166512 176813 834798 132056270 1049871 310433 203268 266684 484343 2314599 1049871 310433 203268 266684 484343 2314599 371291 501836 836650 621480 664112 2995369 25564388 25879131 28271120 28929736 29556661 138201036 0.95550 0.95570 0.01670 0.01640 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: COFFEE SHOP - 2010 AMOUNT: $ 65,017. 2011 AMOUNT: $ 63,588. 2012 AMOUNT: $ 65,318. 2013 AMOUNT: $ 66,559. 2014 AMOUNT: $ 60,071. RESIDENT SERVICES - 2010 AMOUNT: $ 126,976. 2011 AMOUNT: $ 117,532. 2012 AMOUNT: $ 124,455. 2013 AMOUNT: $ 113,452. 2014 AMOUNT: $ 115,490. BEAUTY SHOP - 2010 AMOUNT: $ 25,864. 2011 AMOUNT: $ 24,318. 2012 AMOUNT: $ 27,985. 2013 AMOUNT: $ 25,866. 2014 AMOUNT: $ 27,303. TELEPHONE - 2010 AMOUNT: $ 11,285. 2011 AMOUNT: $ 14,055. 2012 AMOUNT: $ 11,789. 2013 AMOUNT: $ 10,870. 2014 AMOUNT: $ 10,199. MISCELLANEOUS - 2010 AMOUNT: $ 11,919. 2011 AMOUNT: $ 152,013. 2012 AMOUNT: $ 170,007. 2013 AMOUNT: $ 243,125. 2014 AMOUNT: $ 270,049. RENOVATION UPGRADE - 2010 AMOUNT: $ 31,980. 2011 AMOUNT: $ 10,330. 2012 AMOUNT: $ 21,398. 2013 AMOUNT: $ 15,308. 2014 AMOUNT: $ 0. APPLICATION FEES - 2010 AMOUNT: $ 6,500. 2011 AMOUNT: $ 4,900. 2012 AMOUNT: $ 5,600. 2013 AMOUNT: $ 12,300. 2014 AMOUNT: $ 14,800. VIEW/OPTION CHARGE - 2010 AMOUNT: $ 91,750. 2011 AMOUNT: $ 115,100. 2012 AMOUNT: $ 84,000. 2013 AMOUNT: $ 134,000. 2014 AMOUNT: $ 166,200. LEGAL - 2012 AMOUNT: $ 326,098. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 2269278 516447 213087 176813 2821999 1928173 68763 463931 191589 2269278 1657263 77185 251110 57385 1928173 1622742 242872 11250 219601 1657263 1525646 81409 230173 214486 1622742 0.60580 0.00000 0.39420 0 1 1 6656012 6656012 122822564 51588698 71233866 9743840 8204177 1539663 838997 776087 62910 79492451 INTEREST RATE SWAP 7888805 REFUNDABLE HEALTHCARE DEPOSITS 3220664 11109469 X 29638480 81819 81819 29556661 0 29556661 31146393 1978953 1978953 29167440 0 29167440 PART IV, LINE 2B: THE AMOUNT OF 574,553 IS THE REFUNDABLE DEPOSITS THE ORGANIZATION IS HOLDING FOR PROSPECTIVE RESIDENTS. PART V, LINE 4: WHITE HORSE VILLAGE ENDOWMENT FUND HAS TWO TEMPORARILY RESTRICTED FUNDS: RESIDENT RESERVE FUND-TO PROVIDE FINANCIAL ASSISTANCE TO RESIDENTS IN NEED. CAMPUS IMPROVEMENT FUND-TO PROVIDE FACILITY IMPROVEMENTS, FURNISHINGS, AND EQUIPMENT AT THE COMMUNITY FOR THE BENEFIT OF RESIDENTS OF THE COMMUNITY. IN ADDITION, THE ENDOWMENT FUND MAINTAINS AN UNRESTRICTED DISCRETIONARY FUND TO ACCOUNT FOR ALL RESOURCES OVER WHICH THE ENDOWMENT FUND COMMITTEE HAS CONTROL TO USE IN PROVIDING BENEFITS FOR RESIDENTS OF THE COMMUNITY WITHIN THE SCOPE OF THE CORPORATION'S TAX-EXEMPT STATUS. PART X, LINE 2: THE VILLAGE IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND APPLICABLE STATE CODES. THE VILLAGE FOLLOWS THE GUIDANCE IN THE INCOME TAX STANDARD REGARDING THE RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. THE GUIDANCE CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS. THE GUIDANCE FURTHER PRESCRIBES RECOGNITION AND MEASUREMENT OF TAX PROVISIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. THE APPLICATION OF THIS STANDARD HAS NO IMPACT ON THE VILLAGE'S FINANCIAL STATEMENTS. THE VILLAGE'S TAX RETURNS ARE SUBJECT TO REVIEW BY THE TAXING AUTHORITIES. THE TAX RETURNS FOR THE YEARS 2011 TO 2013 ARE OPEN TO EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN INTEREST RATE SWAPS 1,978,953. X X X X 0 0 0 0 0 0 0 0 0 MARY KATHRYN S BURKE PRESIDENT AND CEO 267085 0 31258 0 14077 0 9012 0 2068 0 323500 0 0 0 JENNIFER K SCHILPP VP FINANCE 180339 0 24153 0 1440 0 5927 0 2098 0 213957 0 0 0 MICHAEL A SCHEUREN VP ADMINISTRATION 123945 0 16443 0 3586 0 4354 0 4745 0 153073 0 0 0 A DELAWARE CNTY AUTHORITY 231973437 245913HH4 2006-05-17 4865000 REFUND OF '96/'00 BONDS; FUNDING CAPITAL PROJECT 0 0 0 B DELAWARE CNTY AUTHORITY 231973437 245913HJ0 2006-05-17 35795000 REFUND OF '96/'00 BONDS; FUNDING CAPITAL PROJECT 0 0 0 C DELAWARE CNTY AUTHORITY 231973437 245913JD1 2008-05-09 11000000 FUND EXPANSION, RENOVATION 0 0 0 A 4865000 4816113 40554 4190 4820256 2006 0 1 1 1 B 9917396 35795000 295819 30826 6893094 28575261 2006 1 0 1 1 C 11000000 188620 48669 10762711 2010 0 0 1 1 A 0 0 0 0 1 0 1 B 0 0 0 0 1 0 1 C 0 0 0 0 1 0 1 A 0 1 0 0 1 1 MORGAN STANLEY 0 0 0 0 1 B 0 1 0 0 1 1 MORGAN STANLEY 0 0 0 0 1 C 0 1 0 0 1 1 WELLS FARGO 0 0 0 0 1 A 1 B 1 C 1 FORM 990, PART VI, SECTION B, LINE 11 THE 990 IS REVIEWED BY THE MANAGEMENT AND THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C NO DIRECTOR, OFFICER, KEY EMPLOYEE OR COMMITTEE MEMBER AND THEIR IMMEDIATE FAMILY SHALL CONDUCT BUSINESS WITH, OR HAVE A FINANCIAL INTEREST OF GREATER THAN FIVE PERCENT (5%) IN ANY PUBLICLY-TRADED ENTITY OR ANY INTEREST IN ANY OTHER NON-PUBLICLY TRADED ENTITY (WHICH DIRECTLY OR INDIRECTLY THROUGH SUBSIDIARIES OR AFFILIATES) CONDUCTS BUSINESS WITH THE CORPORATION OR ANY OF ITS AFFILIATED CORPORATIONS. EACH DIRECTOR, OFFICER, KEY EMPLOYEE, OR COMMITTEE MEMBER OF THE CORPORATION SHALL EXECUTE AN ANNUAL CONFLICT OF INTEREST STATEMENT WHICH CONTAINS A CERTIFICATION THAT SUCH INDIVIDUAL IS IN CURRENT COMPLIANCE WITH THIS CONFLICT OF INTEREST POLICY. THE STATEMENT WILL BE SIGNED BY THE DIRECTORS, OFFICERS, AND KEY EMPLOYEES. IF A CONFLICT OF INTEREST DOES ARISE, THE DIRECTOR, OFFICER OR KEY EMPLOYEE WILL REFRAIN FROM PARTICIPATING IN DISCUSSIONS OR VOTING ON SUCH MATTERS. FORM 990, PART VI, SECTION B, LINE 15 ANNUALLY, COMPENSATION STUDIES/SURVEYS ARE COMPLETED. USING THESE SURVEYS, FORM 990S OF OTHER SIMILAR ORGANIZATIONS AND INDEPENDENT CONSULTANTS, THE BOARD EXECUTIVE COMMITTEE REVIEWS AND ESTABLISHES COMPENSATION OF THE CEO/EXECUTIVE DIRECTOR. THE REVIEWS AND COMPENSATION POLICIES FOR THE VP OF FINANCE ARE CONDUCTED BY THE CEO/EXECUTIVE DIRECTOR WHO REVIEWS THEM WITH THE EXECUTIVE COMMITTEE OF THE BOARD. THE LAST COMPENSATION REVIEW WAS COMPLETED DECEMBER 2014. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF INTEREST RATE SWAP AGREEMENTS -1,978,953. WHITE HORSE VILLAGE ENDOWMENT INC 535 GRADYVILLE RD NEWTOWN SQUARE PA 19073 232738045 BENE. FUND PA 501(C)(3) LINE 11A, I WHITE HORSE VILLAGE INC 23-2499121 1 0 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 WHITE HORSE VILLIAGE ENDOWMENT FUND S 176813 FAIR MARKET VALUE OF ASSETS