2015-11-16T14:22:11-06:00 2014-12-31 LANE GORMAN TRUBITT PLLC 2626 HOWELL STREET SUITE 700 DALLAS TX 752044064 990 2014-01-01 300097872 BUCKINGHAM SENIOR LIVING COMMUNITY INC % THOMAS HOLLAND BUCK 2146236116 12720 Hillcrest Road Suite 106 DALLAS TX 75230 CHARLES BREWER PRESIDENT 2146236116 2015-11-16 true James Youngblood P00047431 2148717500 2014 2016-03-07 17:11:31Z THE BUCKINGHAM CHARLES B BREWER 12720 Hillcrest Road 106 DALLAS TX 75230 54931871 false X http://www.buckinghamhouston.com/ X 2002 TX TO PROVIDE QUALITY RESIDENTIAL HOUSING FOR SENIOR CITIZENS ALONG WITH PERSONAL SERVICES, ASSISTED LIVING AND NURSING SERVICES. 3 2 302 35 0 1776 0 21385087 21947683 614914 479779 212964 211662 22214741 22639124 0 456 0 0 8290616 8830039 0 0 0 16171702 15734937 24462318 24565432 -2247577 -1926308 111002355 129211230 165167953 185236839 -54165598 -56025609 TO PROVIDE QUALITY RESIDENTIAL HOUSING FOR SENIOR CITIZENS ALONG WITH PERSONAL SERVICES, ASSISTED LIVING AND NURSING SERVICES. false false 21417664 22159345 NURSING AND RETIREMENT FACILITY WITH SERVICES RANGING FROM INDIVIDUAL RETIREMENT LIVING TO 24-HOUR SKILLED NURSING CARE. 21417664 true false false false false false false false true false true false false false true true true false false false false false false false 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 X 79 0 true 302 true false false false false false false false false false false X 3 2 true false false false true true true true false false false true true true true true true true true false X X THOMAS HOLLAND 7139793080 8580 WOODWAY HOUSTON TX 77063 X CHARLES BREWER PRESIDENT 1.0 46.0 X X 0 342004 8330 DANIEL DUKES TREASURER 1.0 0.0 X X 0 0 0 STAN WATERHOUSE SECRETARY 1.0 4.0 X X 0 6000 0 JOE ANDERSON DIRECTOR 1.0 6.0 X 0 6000 0 JULIE FENSKE EXECUTIVE DIRECTOR 40.0 0.0 X 202725 0 10233 CATHERINE SCHEMPF DIRECTOR OF SALES & MARKETING 40.0 0.0 X 137177 0 6950 DRITAN BEJKO DIRECTOR OF OPERATIONS 40.0 0.0 X 101542 0 7595 441444 354004 33108 3 false true false GREYSTONE MANAGEMENT SERVICES CO 225 E JOHN CARPENTER FWY STE 70 IRVING TX 75062 MANAGEMENT SERVICES 390583 SENIOR QUALITY LIFESTYLES CORPORATI 12720 Hillcrest Road STE 106 DALLAS TX 75230 MANAGEMENT SERVICES 986400 QCR INC 8477 S SUNCOAST BLVD HOMOSASSA FL 34446 THERAPY SERVICES 1005284 MAINTENANCE SOURCE INC 9032 SWEETWATER LANE HOUSTON TX 77037 MAINTENANCE SERVICES 310530 MEK INTERIORS FLOORS INC PO BOX 431511 HOUSTON TX 77243 CONSTRUCTION SVCS. 285008 15 0 RESIDENT SERVICES 623000 21947683 21947683 21947683 570992 570992 101096 101096 0 0 0 0 8477485 23622953 8669437 23623310 -191952 -357 -192309 -192309 0 0 0 VARIOUS RENTALS 900099 33067 33067 MEAL REVENUE 531110 88346 88346 ACCOMMODATION 721000 43951 43951 46298 46298 211662 22639124 22159345 479779 456 456 0 0 0 212958 191662 21296 0 6934650 6241185 693465 0 1094905 985414 109491 587526 528773 58753 979890 979890 7587 6828 759 41726 37553 4173 0 0 77968 70171 7797 1817137 1635423 181714 199812 179831 19981 319296 287366 31930 61954 55759 6195 0 2130307 1917276 213031 76288 68659 7629 0 13004 13004 3643540 3279186 364354 0 3452855 3107570 345285 91914 82723 9191 DINING 1454772 1454772 REPAIRS AND MAINTENANCE 563191 506872 56319 NURSING & ASSISTED LIVING 527528 527528 HOUSEKEEPING 163445 163445 112723 89212 23511 24565432 21417664 3147768 0 X 3792416 3095176 800217 5943401 0 0 1888507 2004535 0 0 0 0 0 0 39567 41295 140912 175425 113812251 23647273 78660455 90164978 23308133 25010517 0 0 0 0 0 0 2372148 2775903 111002355 129211230 3102915 3303766 0 0 4830377 5090058 66213646 83373271 660000 620000 0 0 0 0 0 0 90361015 92849744 165167953 185236839 X -54165598 -56025609 0 0 0 0 -54165598 -56025609 111002355 129211230 -1926308 66297 X false true X true false X 0 3000 1076 1776 0 5852 20248433 20437257 21607073 21385087 21947683 105625533 0 0 0 20248433 20440257 21608149 21386863 21947683 105631385 0 0 0 105631385 557767 780136 691545 746607 672088 3448143 0 557767 780136 691545 746607 672088 3448143 0 211906 158195 181518 212964 211662 976245 21018106 21378588 22481212 22346434 22831433 110055773 0.95980 0.95618 0.03133 0.03097 X false true X 23402683 23402683 79712962 18995506 60717456 4588520 2473967 2114553 6108086 2177800 3930286 90164978 0 RESIDENT DEPOSITS 177510 DUE TO SQLC 304924 REFUNDABLE ENTRANCE FEE LIABILITY 92367310 92849744 X 22627810 66297 66297 22561513 77968 -357 77611 22639124 24487821 357 357 24487464 77968 77968 24565432 ESCROW AND CUSTODIAL ARRANGEMENTS SCHEDULE D, PART IV, LINE 2(a) The Organization requires future residents wishing to reserve space at the community to pay a deposit of $20,000 of the advance fee which will be required upon residency. The deposits are held in an interest-bearing account until residency is established at which time the resident pays the balance of the required entrance fee. The resident's deposit is restricted by the Texas Department of Insurance until the resident takes occupancy of an apartment. FIN 48 (ASC 740) FOOTNOTE SCHEDULE D, PART X, LINE 2 FOLLOWING IS THE TEXT FROM THE FOOTNOTES OF THE ORGANIZATION'S AUDITED FINANCIAL STATEMENTS: The Organization is a nonprofit organization and is exempt from federal income tax under Section 501(c)(3) of the IRC. For the years ended December 31, 2014 and 2013, the Organization had no material unrelated business income. Accordingly, no provision for federal income tax has been made in the accompanying financial statements. The Organization evaluates tax positions taken or expected to be taken in the course of preparing the Organizations tax returns to determine whether the tax positions are more likely than not of being sustained by the applicable tax authority. Tax positions not deemed to meet the more likely than not threshold would be recorded as a tax benefit or expense in the current year. A reconciliation is not provided herein, as the beginning and ending amounts of unrecognized benefits are zero, with no interim additions, reductions, or settlements. However, the conclusions regarding accounting for uncertainty in income taxes will be subject to review and may be adjusted at a later date based on factors including, but not limited to, ongoing analysis of tax laws, regulations, and interpretations thereof. The Organizations informational returns filed in the U.S. federal jurisdiction are generally subject to examination for three years after the later of the due date or date of filing. As a result, the Organization is no longer subject to income tax examinations by tax authorities for years prior to 2011. RECONCILIATION OF REVENUE SCHEDULE D, PART XI, LINE 4B $(357) LOSS ON SALE OF ASSETS NETTED WITH REVENUE RECONCILIATION OF EXPENSES SCHEDULE D, PART XII, LINE 2C $357 LOSS ON SALE OF ASSETS NETTED WITH REVENUE false false false false false false false false false CHARLES BREWER PRESIDENT 0 276004 0 66000 0 0 0 0 0 8330 0 350334 0 0 JULIE FENSKE EXECUTIVE DIRECTOR 161667 0 41058 0 0 0 0 0 10233 0 212958 0 0 0 COMPENSATION OF THE EXECUTIVE DIRECTOR FORM 990, SCHEDULE J, PART II The Executive Director and other key employees are paid through the related supporting organization, Senior Quality Lifestyles Corporation (EIN: 36-4502669). However, their Form W-2s are issued through a third-party professional employer organization, Merit Resources, Inc. (EIN: 42-1368750). A Tarrant Ctny Cultural Educ Facilities Fin Corp 043833551 87638RCH8 2007-08-09 71351739 REFUND 2004 BOND ISSUE false false false B TARRANT CTNY CULTURAL EDUC FACILITIES FIN CORP 043833551 87638reb9 2014-10-02 18575000 COMMUNITY EXPANSION-LAND PURCHASE false false false A 6215000 0 98538867 5064335 0 49846578 1420979 0 0 0 39361935 0 false true true true B 0 0 18575000 1038624 0 0 371500 0 0 17158656 0 0 false false true true A false false false false 0 false false false false B false true true true false 0.00000 0.00000 0.00000 false false false true A false false false true false false 0 false 0 false false B false true false false false false 0 false 0 false true A false B false Additional Proceeds Schedule K, Part II, Line 3, Columns A and B Proceeds of the Issue on Part II-Line 3 include investment proceeds in addition to the sales proceeds of the issue reported in Part I-Column E. Procedures to Undertake Corrective Action Schedule K, Part V, Columns A and B BUCKINGHAM SENIOR LIVING COMMUNITY, INC. (the "Corporation") will consider adopting specific written procedures to ensure timely correction of potential violations of Federal tax requirements related to its bond issue through the use of the voluntary closing agreement program if self-remediation is not available under applicable regulations. However, the Corporation has covenanted in its Master Trust Indenture and other documents related to its bond issue to comply with all applicable Federal tax requirements related to its bond issue and the Corporation may not take certain actions, such as a disposition of the project or defeasance or refunding of the bond issue, without first obtaining an opinion of bond counsel that such actions will not cause the bond issue to fail to meet the Federal tax requirements applicable to the bond issue. Additionally, the Corporation has covenanted to maintain all required records related to its bond issue for Federal tax compliance and engages an expert to compute the Corporation's potential rebate liability under applicable arbitrage rebate regulations each year to ensure timely compliance with these requirements. Arbitrage Rebate SCHEDULE K, PART IV, LINE 2C, COLUMN A BASED ON REBATE COMPUTATIONS DATED 7/31/2012, 8/8/2012, and 7/31/2013, NO REBATE LIABILITY EXISTS AND REPORTING TO THE IRS IS NOT REQUIRED AT THIS TIME. Written Monitoring Procedures SCHEDULE K, PART III, LINE 9 AND PART IV, LINE 7, COLUMN A The organization has represented that it will, and covenanted to, comply with all tax requirements imposed by the Code to satisfy Sections 141 and 145 through 150 of the Code in the tax certificate and loan agreement related to the tax-exempt bond issue. Other than these representations and covenants, the organization has not adopted post-issuance monitoring procedures. The organization realizes that post-issuance monitoring procedures are an important tool in the management of issues arising after tax-exempt bonds are issued. While the organization does not currently have detailed written procedures, it however has consultants, with whom it consults from time to time on an ad hoc basis, including bond counsel, to ensure ongoing compliance with tax and securities laws. In addition, the organization is considering establishing additional post-issuance monitoring procedures to ensure continued compliance with Sections 141 and 145 through 150 of the Code. EMPLOYEES REPORTED THROUGH OUTSOURCED PROFESSIONAL EMPLOYER ORGANIZATION FORM 990, PART V, LINE 2(A) The organization did not issue Form W-2s directly. THE INDIVIDUALS THAT COMPRISE THE TOTAL LISTED ON LINE 2(A) ARE CONSIDERED EMPLOYEES OF THE ORGANIZATION FOR THE PURPOSES OF PART V. HOWEVER, THE ORGANIZATION UTILIZES A PROFESSIONAL EMPLOYER ORGANIZATION, MERIT RESOURCES, INC. (EIN: 42-1368750), WHICH IS THE EMPLOYER OF RECORD, ISSUES ALL W-2S AND ACTS AS AN OUTSOURCED HUMAN RESOURCES PAYROLL DEPARTMENT FOR THE ORGANIZATION. BUSINESS RELATIONSHIPS FORM 990, PART VI, SECTION A, LINE 2 THE FOLLOWING BOARD MEMBERS MAINTAIN A BUSINESS RELATIONSHIP WITH EACH OTHER DUE TO COMMON PARTICIPATION AS OFFICERS OR DIRECTORS OF VARIOUS OTHER RELATED NOT-FOR-PROFIT ENTITIES BY WHICH ONE OR MORE OF THE INDIVIDUALS IS COMPENSATED: CHARLES B. BREWER STAN WATERHOUSE JOE ANDERSON MANAGEMENT COMPANY FORM 990, PART VI, SECTION A, LINE 3 Greystone Management is an unrelated business organization engaged by the Board of Directors of Buckingham Senior Living Community, Inc. to provide management services. Management duties include hiring and recruiting qualified personnel, preparing annual operating budget for submission to the Board of Directors, and assisting in the preparation of monthly and annual financial reporting disclosures. The Board of Directors have final authority over the approval of the annual operating budget, approval of monthly and annual financial reporting disclosures, and oversight of the management company. CORPORATE MEMBER FORM 990, PART VI, SECTION A, LINES 6, 7(A) AND 7(B) SENIOR QUALITY LIFESTYLES CORPORATION ("SQLC") IS THE SOLE MEMBER OF THE ORGANIZATION. SQLC acts as a supporting organization, providing oversight, direction, and governance support, and will make grants and/or provide other forms of financial assistance as needed. SQLC, as the sole member, has authority to elect board members of the Organization. SQLC, as the sole member of the organization, has all of the typical rights afforded to a member of a Texas nonprofit corporation, such as the right to approve any amendments to the articles of incorporation or bylaws, and the right to approve any proposed dissolution of the organization. bylaws, and the right to approve any proposed dissolution of the organization. FORM 990 REVIEW PROCESS FORM 990, PART VI, SECTION B, LINE 11 The Board Members of BUCKINGHAM SENIOR LIVING COMMUNITY, INC., SENIOR QUALITY LIFESTYLES CORPORATION and Greystone Communities, the management company, review the Form 990 upon completion. The board review and approval of the Form 990 is completed prior to filing. COMPENSATION REVIEW OF MANAGEMENT FORM 990, PART VI, SECTION B, LINE 15 THE CEO OF SENIOR QUALITY LIFESTYLES CORPORATION, ALONG WITH THE MANAGEMENT COMPANY, GREYSTONE, AND MERIT, AN INDEPENDENT PAYROLL PROCESSOR, SET THE SALARY FOR THE EXECUTIVE DIRECTOR. BOTH GREYSTONE AND MERIT PROVIDE COMPARATIVE SALARY DATA. THE EXECUTIVE DIRECTOR, GREYSTONE REGIONALS, AND MERIT SET OTHER TOP MANAGEMENT RATES BASED ON MARKET WAGES AND YEARS OF EXPERIENCE. DOCUMENTS AVAILABLE TO PUBLIC FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENTS ARE POSTED TO NATIONALLY Recognized ELECTRONIC MUNICIPAL MARKET ACCESS (EMMA) AND ALSO MADE AVAILABLE IN THE LIBRARY OF THE COMMUNITY FOR VIEWING BY RESIDENTS OR AVAILABLE UPON REQUEST BY PROSPECTIVE RESIDENTS. THE 990 IS ALSO MADE AVAILABLE IN THE LIBRARY OF THE COMMUNITY AND ALSO BY REQUEST. ANY ADDITIONAL GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. TOP MANAGEMENT AND FINANCIAL OFFICIAL FORM 990, PART VII The executive director is the top management OFFICIAL AND TOP FINANCIAL official. Per the form instructions, THE TOP MANAGEMENT AND FINANCIAL OFFICIALS ARE deemed to be officerS. CONFLICT OF INTEREST POLICY ENFORCEMENT AND MONITORING FORM 990, PART VI, SECTION B, LINE 12(C) Annually the conflict of interest policy is reviewed during a board meeting, in addition to having the necessary individuals sign the disclosure statement on an annual basis. It is the expectation that management staff (community and corporate) in addition to the Management Company will bring any questionable activity to the attention of the board or an officer. GROSS RECEIPTS FORM 990, PAGE 1, SECTION G Per the IRS form instructions, the amount reported in Box G for gross receipts includes sales proceeds of securities and other assets of $32,100,438. NORTHWEST SENIOR HOUSING CORPORATION 12720 Hillcrest Road STE 106 DALLAS TX 75230 752771278 HEALTH CARE TX 501(c)(3) 9 SQLC false BARTON CREEK SENIOR LIVING COMMUNITY INC 12720 Hillcrest Road STE 106 DALLAS TX 75230 201203479 HEALTH CARE TX 501(c)(3) 9 SQLC false SENIOR QUALITY LIFESTYLES CORP (SQLC) 12720 Hillcrest Road STE 106 DALLAS TX 75230 364502669 HEALTH CARE TX 501(c)(3) 11-II NA false SQLC SENIOR LIVING CTR AT CORPUS CHRISTI 12720 Hillcrest Road STE 106 DALLAS TX 75230 261778912 HEALTH CARE TX 501(c)(3) 9 SQLC false TARRANT COUNTY SENIOR LIVING CENTER INC 12720 Hillcrest Road STE 106 DALLAS TX 75230 208068602 HEALTH CARE TX 501(c)(3) 9 SQLC false SQLC CHARITABLE FOUNDATION 12720 Hillcrest Road STE 106 DALLAS TX 75230 262474373 FOUNDATION TX 501(c)(3) 7 SQLC false MAYFLOWER COMMUNITIES INC 12720 HILLCREST ROAD STE 106 DALLAS TX 75230 261446350 HEALTH CARE DE 501(C)(3) 9 SQLC false TANGLEWOOD SENIOR LIVING CENTER 12720 Hillcrest Road STE 106 DALLAS TX 75230 261778214 INACTIVE TX SQLC C CORP 0 0 false SQLC SENIOR LIVING CTR AT ALAMO HEIGHTS 12720 Hillcrest Road STE 106 DALLAS TX 75230 272566984 INACTIVE TX SQLC C CORP 0 0 false false false false false false false false false false false false true true true true true true true true NA