2015-12-03T08:17:28-06:00 2015-09-30 560817345 Turlington and Company LLP PO Box 1697 Lexington NC 272931697 990 2014-10-01 560754599 Friends Homes Inc FRIE 3362928187 925 New Garden Road Greensboro NC 27410 Wilson Sheldon Chief Executive Officer 3362928187 2015-11-30 1 Marcia W Henriksen P01259831 3362496856 2014 2016-03-07 17:11:31Z Wilson Sheldon 925 New Garden Road Greensboro NC 27410 56261120 0 X friendshomes.org X 1958 NC To establish and operate continuing care retirement communities in accordance with the principles of the Religious Society of Friends. These principles require that our communities provide, at a reasonable cost, an environment which fosters independence and a sense of wholeness, health, and security so that each resident may realize his or her full potential. In doing so we facilitate the basic Quaker principle that "there is God in every person," meaning that everyone has worth and value. Through continuous improvement and expansion, the organization will provide affordable services to the aged and support to the community at large. We accept the responsibility to promote consistent quality care while providing a home for our residents. 24 24 563 75 0 0 357364 191344 24807761 25762378 1505227 641906 0 0 26670352 26595628 0 0 0 0 14170139 13959312 0 0 0 10754629 11546369 24924768 25505681 1745584 1089947 84564774 81323432 50272656 48893306 34292118 32430126 To provide nursing and residential care and other support services to the elderly. 0 0 22874761 25762378 There are 10 cottages, 358 apartments, 100 assisted care beds and 109 nursing beds. 22874761 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 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 0 0 0 0 1 152 0 563 1 0 0 0 0 0 0 0 0 X 24 24 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 X Wilson Sheldon 3362928187 925 New Garden Road Greensboro NC 27410 X Mark Farlow Board Member 0.00 X 0 0 0 Terrill Harris Treasurer 0.00 X X 0 0 0 Beth Joyce Board Member 0.00 X 0 0 0 John Kirk Board Member 0.00 X 0 0 0 Deets McCullen Board Member 0.00 X 0 0 0 Carolyn McPherson Board Member 0.00 X 0 0 0 Martha Mattocks Board Member 0.00 X 0 0 0 David Millikan Board Member 0.00 X 0 0 0 Janet Robbins Board Member 0.00 X 0 0 0 Jennifer Ross Board Member 0.00 X 0 0 0 William Stevens Jr Vice Chair 0.00 X X 0 0 0 Sara Beth Terrell Board Member 0.00 X 0 0 0 Patrick Tillman Board Member 0.00 X 0 0 0 Scott Wagoner Board Member 0.00 X 0 0 0 Ben Warren Board Member 0.00 X 0 0 0 Marla Allred Board Member 0.00 X 0 0 0 Traci Cossman Board Member 0.00 X 0 0 0 Bill Davis Board Member 0.00 X 0 0 0 Dan Allen Board Member 0.00 X 0 0 0 Kathleen Kellum Board Member 0.00 X 0 0 0 Patrick Miller Treasurer 0.00 X X 0 0 0 Laura Parsons Board Member 0.00 X 0 0 0 Jennifer Schaal Board Member 0.00 X 0 0 0 R Thompson Wright Board Member 0.00 X 0 0 0 Wilson Sheldon Jr CEO 40.00 X 175915 0 0 Tim E Jackson Administrator 40.00 X 107991 0 0 Donna Sprinkle Administrator 40.00 X 107579 0 0 391485 0 0 3 0 1 0 0 191344 191344 Resident services 623000 25762378 25762378 25762378 914208 914208 29390990 2200 29664805 687 -273815 1513 -272302 -272302 26595628 25762378 0 641906 X 11563777 10216197 1347580 311637 217506 94131 1257737 1106809 150928 826161 726290 99871 8513 8513 70590 70590 98574 98574 906067 797339 108728 2070550 1967022 103528 Food Costs 1558471 1558471 Utilities 1286809 1233404 53405 Charitable care 1058524 1058524 Repairs & maintenance 998470 991809 6661 3489801 2902816 586985 25505681 22874761 2630920 0 7825845 8405989 327459 217309 1642632 1671426 195908 183650 101790 51320 81237402 34855420 46346947 46381982 27196935 24038760 927258 372996 84564774 81323432 2241292 1902335 11770636 11641691 34335000 33090000 1838017 1705893 87711 553387 50272656 48893306 X 33376133 32028504 850985 336622 65000 65000 34292118 32430126 84564774 81323432 X 1089947 -2407563 -544376 X 0 1 X 1 0 X 426574 1332243 960047 357364 191344 3267572 23478229 23664598 23510093 24807761 25762378 121223059 23904803 24996841 24470140 25165125 25953722 124490631 0 0 0 124490631 475544 472990 537298 687632 914208 3087672 475544 472990 537298 687632 914208 3087672 24380347 25469831 25007438 25852757 26867930 127578303 0.97580 0.97930 0.02420 0.02070 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5179990 5179990 62218105 28216660 34001445 8201070 2468825 5732245 5638237 4169935 1468302 46381982 Occupancy deposits 97000 Prepaid rent 22221 Interest rate swap 434166 553387 X 23643689 -2407563 -544376 -2951939 26595628 0 26595628 25505681 0 25505681 0 25505681 Part X, Line 2: The Organization has determined that it has no uncertain income tax positions as of September 30, 2015 and 2014. Also, the Organization does not anticipate any increase or decrease in unrecognized tax benefits during the next twelve months that would result in a material change in its financial position. The Organization's income tax returns for years ended after September 30, 2012 remain open for examination. Part XI, Line 2d - Other Adjustments: Unrealized loss on interest rate swap -485,030. Change in value of gift annuity -59,346. X 1 1 X 0 0 0 0 0 0 0 0 0 Wilson Sheldon Jr CEO 175915 0 0 0 0 0 0 0 0 0 175915 0 0 0 A North Carolina Medical Care Commission 521309402 657902M41 2011-11-01 37745000 Refunding prior bond issue dated 10/16/03 0 0 0 A 4655000 37745000 1 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 0 1 1 Branch Bank & Trust 7.000000000000 0 0 0 0 0 A 0 Form 990, Part VI, Section B, line 11 The 990 is reviewed by the Chief Executive Officer, the Controller and Chairman of the board. Form 990, Part VI, Section B, line 12c The policy is signed each time a member joins the board. The organization relies on the integrity of the board members to monitor their independence. Form 990, Part VI, Section B, line 15a The CEO's compensation is set by the compensation committee of the board who are independent. Form 990, Part VI, Section C, line 19 The Organization is regulated by the Insurance Commission and the financial statements are part of the Disclosure required by them. Form 990, Part IX, line 24e Contract Medical Services: Program service expenses 727,623. Management and general expenses 0. Fundraising expenses 0. Total expenses 727,623. Miscellaneous: Program service expenses 309,789. Management and general expenses 270,667. Fundraising expenses 0. Total expenses 580,456. Supplies: Program service expenses 508,777. Management and general expenses 27,025. Fundraising expenses 0. Total expenses 535,802. Contractual dietary: Program service expenses 467,328. Management and general expenses 0. Fundraising expenses 0. Total expenses 467,328. Prescription drugs, etc.: Program service expenses 456,486. Management and general expenses 0. Fundraising expenses 0. Total expenses 456,486. Insurance: Program service expenses 312,774. Management and general expenses 141,409. Fundraising expenses 0. Total expenses 454,183. Office expenses: Program service expenses 61,084. Management and general expenses 126,582. Fundraising expenses 0. Total expenses 187,666. Property Taxes: Program service expenses 37,846. Management and general expenses 0. Fundraising expenses 0. Total expenses 37,846. Dues and Subscriptions: Program service expenses 3,061. Management and general expenses 21,302. Fundraising expenses 0. Total expenses 24,363. Amortization of bond issue costs: Program service expenses 18,048. Management and general expenses 0. Fundraising expenses 0. Total expenses 18,048. Form 990, Part XI, line 9: Unrealized gain/loss on interest rate swap -485,030. Change in value of gift annuity -59,346.