2015-05-15T13:27:25-05:00 2014-06-30 381357951 PLANTE & MORAN PLLC 750 TRADE CENTRE WAY STE 300 PORTAGE MI 49002 990 2013-07-01 386141735 PORTER HILLS PRESBYTERIAN VILLAGE PORT 6169494975 4450 CASCADE ROAD GRAND RAPIDS MI 49564 CRAIG VANDENBOS DIRECTOR OF FINANCE 6169541799 2015-05-15 1 CAROL LALONDE CPA P00181637 2695674500 2013 2016-02-25 16:41:14Z CRAIG VANDENBOS 4450 CASCADE ROAD GRAND RAPIDS MI 49564 35501473 0 X WWW.PORTERHILLS.ORG X 1970 MI ASSISTED LIVING, NURSING CARE, INDEPENDENT LIVING FOR ELDERLY 15 15 572 211 0 0 585414 951334 18342395 34206588 443506 343551 10868649 0 30239964 35501473 0 0 0 0 11215940 18516708 0 0 0 19454996 19763734 30670936 38280442 -430972 -2778969 75311959 78422117 94416078 101276884 -19104119 -22854767 TO PROVIDE A CONTINUUM OF HIGH QUALITY COMMUNITIES AND SERVICES FOR OLDER ADULTS IN ACCORDANCE WITH CHRISTIAN VALUES 0 0 23783585 34206588 ASSISTED LIVING, NURSING CARE, INDEPENDENT LIVING FACILITY FOR THE ELDERLY. TOTAL DAYS OF CARE IN 2013-14 WAS 179,233. 23783585 1 1 0 0 0 0 0 0 0 0 1 0 0 1 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 0 0 0 1 12 0 1 572 1 0 0 0 0 0 0 0 0 0 0 X 15 15 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 MI X CRAIG VANDENBOS 6169541799 4450 CASCADE ROAD SE STE 200 GRAND RAPIDS MI 49546 MARK J YOST CHAIR 2.00 0.00 X X 0 0 0 CYNTHIA A HAVARD VICE CHAIR 2.00 0.00 X X 0 0 0 JANE L TOOT SECRETARY 2.00 0.00 X X 0 0 0 WILLIAM E ALT TREASURER 2.00 0.00 X X 0 0 0 JON E PIKE BOARD DIRECTOR 2.00 0.00 X X 0 0 0 JOSEPH A STOJAK INTERIM CHAIR 2.00 0.00 X X 0 0 0 HARRY BAXTER III DIRECTOR 1.00 0.00 X 0 0 0 MARTHA A BLANDFORD DIRECTOR 1.00 0.00 X 0 0 0 SHARON M BUURSMA DIRECTOR 1.00 0.00 X 0 0 0 HENRY E CAPOGNA II DIRECTOR 1.00 0.00 X 0 0 0 ROBERT W DAVERMAN DIRECTOR 1.00 0.00 X 0 0 0 CAROL L HUBBARD DIRECTOR 1.00 0.00 X 0 0 0 WILLIAM S LAWRENCE III DIRECTOR 1.00 0.00 X 0 0 0 THOMAS W SMALL DIRECTOR 1.00 0.00 X 0 0 0 JAMES C WILLIAMS DIRECTOR 1.00 0.00 X 0 0 0 SUSAN STODDARD CFO 50.00 0.00 X 137217 0 11760 LARRY YACHCIK CEO 50.00 0.00 X 296197 0 13516 REED VANDER SLIK COO 50.00 0.00 X 158344 0 12252 INGRID WEAVER SENIOR VP OF OPERATIONS 50.00 0.00 X 143390 0 12980 TERESA TOLAND VP OF BUSINESS DEVELOPMENT 50.00 0.00 X 121487 0 1867 MICHELLE COBERLY EXECUTIVE DIRECTOR OF PHV 50.00 0.00 X 133049 0 11868 CAROL BASINGER VP OF HUMAN RESOURCES 50.00 0.00 X 146180 0 11883 1135864 0 76126 5 0 1 0 MARY FREE BED 235 WEALTHY STREET GRAND RAPIDS MI 49503 THERAPY SERVICES 2001288 CREATIVE DINING SERVICES ONE ROYAL PARK DRIVE ZEELAND MI 49464 FOOD SERVICE 1445356 TRIVALENT 3145 PRAIRIE ST SW GRAND RAPIDS MI 49418 COMPUTER HOSTING SERVICE 517455 VERHEY CARPETS 1113 WEALTHY ST GRAND RAPIDS MI 49506 CARPET INSTALLATION 456888 VCPI 111 W MICHIGAN ST MILWAUKEE WI 53203 COMPUTER HOSTING SERVICE 304840 18 951334 951334 NET PROGRAM SERVICES 623990 20850563 20850563 OTHER PROGRAM REVENUE 623990 9145772 9145772 MAINTENANCE FEES 990099 2194935 2194935 LIFE LEASE INCOME 623990 2015318 2015318 34206588 343551 343551 35501473 34206588 0 343551 X 867893 867893 14600659 11254035 3346624 61509 19057 42452 1909388 1370434 538954 1077259 797497 279762 159305 39008 120297 72055 50561 21494 4215101 2400425 1814676 278742 33988 244754 1784119 1314384 469735 3756580 1928773 1827807 187666 112727 74939 130290 36190 94100 2335520 940087 1395433 3688180 1868715 1819465 278703 11176 267527 LOSS ON EXTINGUISHMENT 1305288 568487 736801 DUES AND SUBSCRIPTIONS 140583 33592 106991 BAD DEBT EXPENSE 121157 121157 1310445 883292 427153 38280442 23783585 14496857 0 122075 0 1952180 2668810 1824310 2143729 206700 255699 117088074 56691998 60573172 60396076 8841098 1910104 1792424 11047699 75311959 78422117 8378403 4532444 12128830 68079318 50050417 3736042 890737 14222315 33674456 94416078 101276884 X -19104119 -22854767 -19104119 -22854767 75311959 78422117 X -2778969 131714 -1103393 X X 0 1 X 1 0 X 641593 541126 2421927 585414 951334 5141394 24992484 25950039 27020569 29211044 34206588 141380724 25634077 26491165 29442496 29796458 35157922 146522118 0 312285 390179 401084 432496 724215 2260259 312285 390179 401084 432496 724215 2260259 144261859 899475 1153076 706288 443506 343557 3545902 899475 1153076 706288 443506 343557 3545902 26533552 27644241 30148784 30239964 35501479 150068020 0.96130 0.97500 0.02360 0.02500 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 284 284 0 PART II-B, LINE 1: PORTER HILLS PAYS A MEMBERSHIP FEE TO LEADING AGE SERVICES OF MICHIGAN AND PART OF THOSE MEMBERSHIP FEES ARE USED TO LOBBY. 7407877 7407877 90049885 41865064 48184821 19630312 14826934 4803378 60396076 OTHER NON-CURRENT ASSETS 3340885 DEFERRED FINANCING COSTS 573245 DUE FROM AFFILIATES 7133569 11047699 ACCOUNTS PAYABLE AFFILIATES 6267286 FAIR VALUE INTEREST RATE SWAP AGREEMENT 3122011 OTHER LONG TERM LIABILITIES 201760 REFUNDABLE ADVANCES ON LIFE LEASES 24083399 33674456 X PART X, LINE 2: THE ORGANIZATION IS A NOT-FOR-PROFIT AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE "CODE") AND IS EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE CODE. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE ORGANIZATION AND RECOGNIZE A TAX LIABILITY IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ORGANIZATION AND HAS CONCLUDED THAT AS OF JUNE 30, 2014, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE COMBINED FINANCIAL STATEMENTS. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. MANAGEMENT BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO JUNE 30, 2011. X 0 1 X X X 0 1 0 0 0 0 0 1 0 LARRY YACHCIK CEO 249009 0 33350 0 13838 0 3017 0 10499 0 309713 0 0 0 REED VANDER SLIK COO 137437 0 19650 0 1257 0 971 0 11281 0 170596 0 0 0 INGRID WEAVER SENIOR VP OF OPERATIONS 129181 0 13412 0 797 0 1434 0 11546 0 156370 0 0 0 CAROL BASINGER VP OF HUMAN RESOURCES 124851 0 20910 0 419 0 580 0 11303 0 158063 0 0 0 PART I, LINE 1A PORTER HILLS PRESBYTERIAN VILLAGE PAYS A COUNTRY CLUB FEE FOR THE PRESIDENT OF THE COMPANY. THE TOTAL COST IS $3,648 PART I, LINE 4B THE PRESIDENT OF PORTER HILLS PRESBYTERIAN VILLAGE PARTICIPATES IN A 457 PLAN. $15,000 WAS THE EMPLOYER'S CONTRIBUTION INTO THE PLAN. PART I, LINE 7 PART OF THE COMPENSATION IS VARIABLE AND AT THE DISCRETION OF THE BOARD OF DIRECTORS A THE ECONOMIC DEVELOPMENT CORPORATION OF THE CHARTER TOWNSHIP OF GRAND RAPID 386005448 2013-11-05 34285043 SEE PART VI 0 0 0 B MICHIGAN STRATEGIC FUND 521417332 2013-11-05 17574957 SEE PART VI 0 0 0 C THE ECONOMIC DEVELOPMENT CORPORATION OF THE CHARTER TOWNSHIP OF GRAND RAPID 386005448 2014-06-27 10000000 SEE PART VI 0 0 0 A 34285043 236146 34285043 2014 1 0 1 1 B 17574957 120854 17574957 2014 1 0 1 1 C 10000000 10000000 2014 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 1 0 0 1 0 0 0 0 B 0 1 0 0 1 0 0 0 0 C 0 1 0 0 1 0 0 0 0 A 0 B 0 C 0 FORM 990, SCHEDULE K, PART I, LINE A, COLUMN F REFINANCE INTERIM TAXABLE FACILITY WHICH CLOSED ON 09/30/2013, THE PROCEEDS OF WHICH FINANCED THE OPTIONAL REDEMPTION OF REFUNDED BONDS WITH THE LAST CALL DATE OF 11/01/2013. FORM 990, SCHEDULE K, PART I, LINE B, COLUMN F REFINANCE INTERIM TAXABLE FACILITY WHICH CLOSED ON 09/30/2013, THE PROCEEDS OF WHICH FINANCED THE OPTIONAL REDEMPTION OF REFUNDED BONDS WITH THE LAST CALL DATE OF 11/01/2013. FORM 990, SCHEDULE K, PART I, LINE C, COLUMN F THE PROCEEDS FINANCED THE PARTIAL OPTIONAL REDEMPTION OF THE BONDS DESCRIBED IN LINE "A" ABOVE AND PROVIDED ADDITIONAL FUNDING FOR THE PURCHASE PROPERTY AND EQUIPMENT. FORM 990, SCHEDULE K, PART II, LINE 7C NONE OF THE BOND PROCEEDS WERE USED TO PAY FOR THE BOND ISSUANCE COST. FORM 990, PART VI, SECTION A, LINE 6 YES, WESTMINSTER PRESBYTERIAN CHURCH IS THE SOLE MEMBER OF PORTER HILLS PRESBYTERIAN VILLAGE FORM 990, PART VI, SECTION A, LINE 7A YES, WESTMINSTER PRESBYTERIAN CHURCH CAN ELECT BOARD MEMBERS TO PORTER HILLS PRESBYTERIAN VILLAGE FORM 990, PART VI, SECTION A, LINE 7B YES, THE SLATE OF PORTER HILLS PRESBYTERIAN VILLAGE BOARD MEMBERS NEEDS APPROVAL BY WESTMINSTER CHURCH'S BOARD OF DIRECTORS FORM 990, PART VI, SECTION B, LINE 11 A COPY OF THE RETURN IS REVIEWED BY THE DIRECTOR OF FINANCE PRIOR TO FILING THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C OFFICERS, DIRECTORS, TRUSTEES AND KEY EMPLOYEES ARE REQUIRED TO ANNUALLY DISCLOSE WHETHER OR NOT THEY HAVE ANY INTEREST THAT MAY RESULT IN A CONFLICT. THE FORM WHICH THEY SIGN REQUIRES THEM TO PROMPTLY REPORT ANY POSSIBLE EXSISTENCE OF A CONFLICT OF INTEREST FOR THEMSELVES OR ANYONE ELSE SUBJECT TO THE POLICY. IF A POSSIBLE CONFLICT WAS REPORTED ON THE ANNUAL FORM OR IF NOTICE WAS GIVEN AFTER THE ANNUAL DISCLOSURE, THE INFORMATION DISCLOSED WOULD BE EVALUATED AND IF NECESSARY, COMPLIANCE WOULD BE ENFORCED. FORM 990, PART VI, SECTION B, LINE 15 FOR EXECUTIVE COMPENSATION A MINIMUM OF THREE SOURCES ARE USED. EACH SOURCE IS A THIRD PARTY ORGANIZATION SPECIALIZING IN COMPENSATION IN THE WEST MICHIGAN AREA. THE INFORMATION IS THEN COMPILED BY THE HR DEPARTMENT AND USED TO MAKE A RECOMMENDATION ON THE SALARY FOR EACH PERSON. THE RECOMMENDATION IS REVIEWED AND APPROVED BY AN INDEPENDENT PERSON. FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIALS AND FORM 990 ARE AVAILABLE UPON REQUEST FORM 990, PART IX, LINE 11G HEALTHCARE SERVICES: PROGRAM SERVICE EXPENSES 2,400,425. MANAGEMENT AND GENERAL EXPENSES 1,814,676. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 4,215,101. FORM 990, PART XI, LINE 9: CHANGE IN FAIR VALUE OF INTEREST RATE SWAP -1,896,172. UNREALIZED GAIN ON JOINT VENTURES 792,779. FORM 990, PART XII LINE 2C THE PROCESS FOR OVERSIGHT OF THE AUDIT HAS NOT CHANGED. PORTER HILLS FOUNDATION 4450 CASCADE ROAD GRAND RAPIDS MI 49546 383243846 SUPPORTING ORGANIZATION MI 501 C 3 11A PORTER HILLS PRESBYTERIAN INC 1 MEADOWLARK RETIREMENT HOME 4450 CASCADE ROAD GRAND RAPIDS MI 49546 383373281 RETIREMENT HOME MI 501 C 3 7 N/A 1 PORTER HILLS HOME CARE 4450 CASCADE ROAD GRAND RAPIDS MI 49546 383384372 HOME CARE MI 501 C 3 9 N/A 1 GERONTOLOGY NETWORK 516 CHERRY SE GRAND RAPIDS MI 49503 382774701 HEALTH SERVICES MI 501 C 3 7 PORTER HILLS PRESBYTERIAN INC 1 WALKER MEADOW RETIREMENT 1101 WILSON AVE GRAND RAPIDS MI 49534 383283760 RETIREMENT HOME MI 501 C 3 7 N/A 1 OAK RIDGE RETIREMENT 3781 GIDDINGS GRAND RAPIDS MI 49508 383382610 RETIREMENT HOME MI 501 C 3 7 N/A 0 HARVEST WAY RETIREMENT 100 IDA ROAD SPARTA MI 49345 383445251 RETIREMENT HOME MI 501 C 3 7 N/A 0 RIVER GROVE RETIREMENT 5761 JUPITER AVE BELMONT MI 49306 383519530 RETIREMENT HOME MI 501 C 3 7 N/A 0 BAILEYS RETIREMENT 5252 BAILEYS CENTER KENTWOOD MI 49512 383643825 RETIREMENT HOME MI 501 C 3 7 N/A 0 STATION CREEK RETIREMENT 10010 CROSSROAD COURT CALEDONIA MI 49316 200771871 RETIREMENT HOME MI 501 C 3 7 N/A 0 LIFE CIRCLES 560 SEMINOLE ROAD MUSKEGON MI 49444 260170498 PACE PROGRAM MI 501 C 3 9 N/A 1 PORTER HILLS HOME HEALTH EAST 4450 CASCADE ROAD GRAND RAPIDS MI 49546 383358620 PRIVATE DUTY AND TRANSPORTATION COMPANY MI 501 C 3 9 N/A 1 AVENUES BY PORTER HILLS 4450 CASCADE ROAD GRAND RAPIDS MI 49546 453469541 HOME CARE MI 501 C 3 9 N/A 1 MARYWOOD HOME HEALTH 2025 FULTON ST EAST GRAND RAPIDS MI 49503 454065572 HOME CARE MI 501 C 3 7 N/A 0 MARYWOOD HEALTH CENTER 111 LAKESIDE DRIVE NE GRAND RAPIDS MI 49503 455553307 HEALTH AND REHABILITATION FACILITY MI 501 C 3 7 N/A 0 PORTER HILLS HOME HEALTH WEST 4450 CASCADE ROAD SE STE 200 GRAND RAPIDS MI 49546 383384372 CERTIFIED HOME HEALTH MI 501 C 3 7 PORTER HILLS PRESBYTERIAN INC 0 1 0 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 PORTER HILLS FOUNDATION C 951334 ACTUAL AMOUNT DONATED PORTER HILLS HOME HEALTH WEST A 70800 LEASE PAYMENTS MADE PORTER HILLS HOME HEALTH EAST M 428771 ACTUAL AMOUNT CHARGED LIFE CIRCLES L 350000 ALLOCATION OF COST GERONTOLOGY NETWORK L 82945 ALLOCATION OF COST PORTER HILLS HOME HEALTH EAST D 445172 ACTUAL AMOUNT OF LOAN