2026-02-02T18:07:08-06:00 2025-06-30 410746749 CLIFTONLARSONALLEN LLP 420 SOUTH ORANGE AVENUE SUITE 900 ORLANDO FL 32801 990 2024-07-01 590624420 PENNEY RETIREMENT COMMUNITY INC PENN 9042848200 PO BOX 555 PENNEY FARMS FL 320790555 TERESA SCOTT PRESIDENT 9042848200 2026-02-02 1 1 TINA HENTON P00630282 4078021200 2026-02-02 2024 2025-03-06 01:10:19Z TERESA SCOTT PO BOX 555 PENNEY FARMS FL 320790555 24513443 0 X WWW.PENNEYRETIREMENTCOMMUNITY.ORG X 1965 FL TO SERVE SENIORS WHO WISH TO RETIRE IN AN INCLUSIVE CHRISTIAN COMMUNITY. 13 13 313 308 0 0 618526 976140 19202223 19889395 286622 768858 0 0 20107371 21634393 600 4165 0 0 9640119 9816647 0 0 4474 10681231 11059673 20321950 20880485 -214579 753908 67127533 67634653 47649557 47404790 19477976 20229863 PENNEY RETIREMENT COMMUNITY, INC IS AN INCLUSIVE CHRISTIAN CONTINUING CARE RETIREMENT COMMUNITY SEEKING THE ABUNDANT LIFE THROUGH SOCIAL INTERACTION AND SERVICE. 0 0 19136484 4165 19889395 THE ORGANIZATION PROVIDES HOUSING HEALTH CARE AND OTHER RELATED SERVICES THROUGH THE OPERATION OF A RETIREMENT COMMUNITY. THE COMMUNITY INCLUDES 313 APARTMENTS, COTTAGES AND HOMES, A 10-BED MEMORY CARE CENTER, 55 INDEPENDENT LIVING UNITS OFFERING ASSISTIVE SERVICES AND A LICENSED SKILLED NURSING CENTER WITH A CAPACITY OF 50 RESIDENTS. THE COMMUNITY ALSO INCLUDES RECREATIONAL AMENITIES, INCLUDING A NINE-HOLE GOLF COURSE, INDOOR SWIMMING POOL, FITNESS CENTER, ART STUDIO, CRAFTS FACILITIES, LIBRARIES AND DINING FACILITIES. 19136484 1 1 0 0 0 0 0 0 0 0 1 1 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 1 0 0 0 0 1 50 0 1 313 1 0 0 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 FL X TERESA SCOTT 9042848200 PO BOX 555 PENNEY FARMS FL 32079 JAMES RENNIGER CHAIRMAN 2.00 X X 0 0 0 RON COLEMAN FIRST VICE CHAIR (THRU 02/2025) 2.00 X X 0 0 0 TERESA BARTON SECOND VICE CHAIR 2.00 X X 0 0 0 JIMMY LOVELACE FIRST VICE CHAIR 2.00 X X 0 0 0 RANNEL WESTBERRY TREASURER 2.00 X X 0 0 0 GERALD AGRESTI DIRECTOR 2.00 X 0 0 0 MARY BRIDGMAN DIRECTOR 2.00 X 0 0 0 RICHARD COSTIN DIRECTOR 2.00 X 0 0 0 KIP DECKERHOFF DIRECTOR 2.00 X 0 0 0 SADIE DURHAM DIRECTOR 2.00 X 0 0 0 FRANCES IRVINE DIRECTOR 2.00 X 0 0 0 NANCY KEATING DIRECTOR 2.00 X 0 0 0 GARY MEERNIK DIRECTOR 2.00 X 0 0 0 BERT VAN ROYAL DIRECTOR (THRU 10/2024) 2.00 X 0 0 0 STEVE VANDERKAMP DIRECTOR 2.00 X 0 0 0 TERESA D SCOTT PRESIDENT/ CEO 40.00 X 226696 0 21072 TONY VERNON COO/CNO 40.00 X 108721 0 5436 ADAM CARTER AM 624 TO 125 CONTROLLER (BEG. 01/2025) 40.00 X 42889 0 10181 RENEE DIPATRI CORPORATE SECRETARY 40.00 X 65049 0 12961 JAMIE STANDLEY NURSING HOME ADMINISTRATOR 40.00 X 109084 0 5988 552439 0 55638 3 0 1 0 FUNCTIONAL PATHWAYS 10133 SHERRILL BLVD KNOXVILLE TN 37932 PATIENT THERAPY SERVICES 784620 STEVENSON CONSTRUCTION CO INC PO BOX 1178 STARKE FL 32091 CONSTRUCTION SERVICES 533376 JAMES DEAN MASONRY INC 3750 CR 315-A GREEN COVE SPRINGS FL 32043 CONSTRUCTION SERVICES 493815 CHANEY'S CONSTRUCTION INC 116 N ORANGE AVE GREEN COVE SPRINGS FL 32043 CONSTRUCTION SERVICES 239085 REGIONAL ELECTRIC INC 5005 SAGEBRUSH AVE KEYSTONE HEIGHTS FL 32656 CONSTRUCTION SERVICES 223399 10 976140 976140 RESIDENT SERVICE REVENUES 623000 19428105 19428105 OTHER RESIDENT SERVICE REVENUE 623000 461290 461290 19889395 389342 389342 3036891 221675 2863875 15175 173016 206500 379516 379516 21634393 19889395 0 768858 4165 4165 549379 240705 308674 7613019 6983712 629307 90675 90675 939994 873652 66342 623580 556934 66646 3244 3244 1348594 1213999 134595 19407 19407 92212 17430 74782 150442 83385 67057 3108076 3088417 19659 8403 311 8092 419315 411773 7542 3648002 3582384 65618 1039432 969846 69586 SUPPLIES & EQUIPMENT 564849 539183 25666 BAD DEBT EXPENSE 147000 147000 EMPLOYEE RELATED EXPENS 32386 26507 5879 FUNDRAISING EXPENSES 4474 4474 473837 453406 20431 20880485 19136484 1739527 4474 1733349 631095 314194 949 10677 1146865 1155009 175625 158952 177288 227662 102167768 49404752 52305378 52763016 10988342 11517408 599737 856640 67127533 67634653 1330033 1368955 33152723 35003443 11492272 9486046 1674529 1546346 47649557 47404790 X 18577026 19376329 900950 853534 19477976 20229863 67127533 67634653 X 753908 228569 -839 -229751 X 0 1 X 1 0 X 734079 1050205 682955 618526 976140 4061905 15912986 16458906 17346411 19202223 19889395 88809921 16647065 17509111 18029366 19820749 20865535 92871826 5250 186338 191588 1333195 899665 563870 493193 1173408 4463331 1333195 899665 569120 493193 1359746 4654919 88216907 278007 347511 274718 279363 389342 1568941 278007 347511 274718 279363 389342 1568941 16925072 17856622 18304084 20100112 21254877 94440767 0.93410 0.93520 0.01660 0.01630 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 279030 279030 1914111 69554 1704635 279030 1699596 214515 1914111 1863232 1863232 89141548 43659231 45482317 7725567 5745521 1980046 3437421 3437421 52763016 CASH & CASH EQUIVALENTS 2668037 F U.S. GOVERNMENT & AGENCY OBLIGATIONS 6173212 F DEBT SECURITIES 943504 F MUTUAL FUNDS - EQUITY SECURITIES 1467655 F BOND FUNDS 265000 F 11517408 DEPOSITS 320100 CHARITABLE ANNUITY OBLIGATION 160008 ACCRUED GIFT BONDS 1066238 1546346 X 20931060 228569 -229751 -1182 20932242 702151 702151 21634393 20437980 0 20437980 442505 442505 20880485 PART V, LINE 4: THE COMMUNITY'S SPENDING POLICY OBJECTIVE IS TO PROTECT THE VALUE AND GROW THE ENDOWMENT FUNDS TO PROVIDE FUTURE CASH FLOWS FOR OPERATIONS, GIFT BOND REDEMPTIONS AND OTHER STIPULATED PURPOSES. PART X, LINE 2: THE COMMUNITY IS A NONPROFIT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) AND ARE EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501 (A) OF THE IRC. THE COMMUNITYS INCOME TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL, STATE, AND LOCAL AUTHORITIES. MANAGEMENT IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE ITS TAX-EXEMPT STATUS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN FV OF INTEREST RATE SWAP AGREEMENT -229,751. LOSS ON UNCOLLECTIBLE PLEDGES PART XI, LINE 4B - OTHER ADJUSTMENTS: RESIDENTS' AID FUND OF PRC, LLC - TOTAL REVENUE 258,461. ASSOCIATION OF PRC RESIDENTS, LLC - TOTAL REVENUE 443,690. PART XII, LINE 4B - OTHER ADJUSTMENTS: RESIDENTS' AID FUND OF PRC, LLC - TOTAL EXPENSES 49,727. ASSOCIATION OF PRC RESIDENTS, LLC - TOTAL EXPENSES 392,778. X X X X 0 0 0 0 0 0 0 0 0 TERESA D SCOTT PRESIDENT/ CEO 226696 0 0 0 0 0 11498 0 9574 0 247768 0 0 0 A CLAY COUNTY DEVELOPMENT AUTHORITY 596583087 2017-12-07 13355113 SEE SUPPLEMENTARY INFOMATION 0 0 0 A 5770420 13355113 267102 10325320 2762691 2018 1 0 1 1 A 0 0 0 0 0 0 0 A 0 1 0 0 1 1 BRANCH BANKING AND TRUST COMPANY 12.000000000000 0 0 0 0 0 A 0 FORM 990, PART VI, SECTION A, LINE 1A THE COMMITTEE IS MADE UP OF BOARD MEMBERS APPOINTED BY THE BOARD TO DEAL WITH EXECUTIVE MATTERS THAT MAY ARISE IN-BETWEEN BOARD MEETINGS. THE NOMINATING COMMITTEE OF THE BOARD OF DIRECTORS PRESENT THE SLATE OF OFFICERS TO THE BOARD FOR A VOTE ANNUALLY. FORM 990, PART VI, SECTION B, LINE 11B PER PRC POLICY, THE BOARD CHAIRMAN WILL REVIEW THE ENTIRE FORM 990 WITH ALL BOARD MEMBERS BEFORE IT IS FILED WITH THE IRS. THE CHAIRMAN WILL CONFIRM IN WRITING THAT THE 990 WAS REVIEWED. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ARE REQUIRED TO AFFIRM ANNUALLY IN WRITING THAT THEY ARE NOT AWARE OF ANY CONFLICTS OF INTEREST WITHIN THE ORGANIZATION. EMPLOYEES SIGN THAT THEY HAVE READ THE POLICY UPON HIRE. THE POLICY IS REVIEWED PERIODICALLY BY THE COMPLIANCE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15A THE ORGANIZATION'S COMPENSATION POLICY REQUESTS THE PRESIDENT'S COMPENSATION BE DETERMINED BY THE DIRECTORS USING COMPARABILITY DATA GATHERED FROM OTHER RETIREMENT COMMUNITIES. ALL DIRECTORS ARE INDEPENDENT WITH REGARD TO COMPENSATION AND THE DELIBERATION AND DECISION MAKING PROCESS IS DOCUMENTED. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2025. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE AT THE CORPORATE OFFICE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF INTEREST RATE SWAP -229,751. ASSOCIATION OF PENNEY RETIREMENT COMMUNITY RESIDENTS LLC PO BOX 555 PENNY FARMS FL 32079 SUPPORT THE RESIDENTS OF PENNEY RETIREMENT COMMUNITY FL 443690 430991 PENNEY RETIREMENT COMMUNITY RESIDENTS' AID FUND OF PENNEY RETIREMENT COMMUNITY LLC PO BOX 555 PENNY FARMS FL 32079 SUPPORT THE RESIDENTS OF PENNEY RETIREMENT COMMUNITY FL 258461 1162594 PENNEY RETIREMENT COMMUNITY