2012-12-10T10:02:47-06:00 2012-09-30 560817345 Turlington and Company LLP PO Box 1697 Lexington NC 272931697 990 2011-10-01 560754599 Friends Homes Inc FRIE 3362928187 925 New Garden Road Greensboro NC 27410 Wilson Sheldon 3362928187 2012-12-05 1 Marcia W Henriksen P01259831 3362496856 2011 2016-02-24 21:20:13Z Wilson Sheldon 925 New Garden Road Greensboro NC 27410 31345307 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. 25 25 512 75 0 0 426574 1332243 23478229 23664598 359916 -334761 0 -32480 24264719 24629600 0 0 0 0 11747647 12202078 0 0 0 11094116 13032628 22841763 25234706 1422956 -605106 77174697 78737849 55163234 51995046 22011463 26742803 To provide nursing and residential care and other support services to the elderly. 0 0 22031393 23632118 There are 10 cottages, 360 apartments, 100 assisted care beds and 109 nursing beds. 22031393 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 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 0 0 0 0 0 1 125 0 512 1 0 0 0 0 0 0 0 0 X 25 25 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 Jack Kirk 0.00 X 0 0 0 Dick Coe 0.00 X 0 0 0 Ed Harris 0.00 X 0 0 0 Mary Farlow 0.00 X 0 0 0 Dale Brent McKinney 0.00 X 0 0 0 Bill Davis 0.00 X 0 0 0 Beth Joyce 0.00 X 0 0 0 David Millikan 0.00 X 0 0 0 Janie Edgerton 0.00 X 0 0 0 Carolyn McPherson 0.00 X 0 0 0 Tony Lowe 0.00 X 0 0 0 Jim Newlin 0.00 X 0 0 0 Scott Wagoner 0.00 X 0 0 0 Carl Semmler 0.00 X 0 0 0 Gwen Taylor 0.00 X 0 0 0 Terri Harris 0.00 X 0 0 0 Daniel Thames 0.00 X 0 0 0 Lawrence Ross 0.00 X 0 0 0 Brenda Shelton 0.00 X 0 0 0 Dan Allen 0.00 X 0 0 0 Martha Mattocks 0.00 X 0 0 0 Susan Steelman 0.00 X 0 0 0 Sara Beth Terrell 0.00 X 0 0 0 Jon Mitchell 0.00 X 0 0 0 Tom Wright 0.00 X 0 0 0 Wilson Sheldon Jr 40.00 X 166807 0 0 166807 0 0 1 0 1 0 0 1332243 1332243 Resident services 623000 23664598 23664598 23664598 472990 472990 5362476 545480 6167459 548248 -804983 -2768 -807751 -807751 Change in value of spl 623000 -32480 -32480 -32480 24629600 23632118 0 -334761 X 11080462 9835490 1244972 270000 212777 57223 851616 774471 77145 4187 4187 76364 76364 103444 103444 164316 77260 87056 4385 4385 46422 37925 8497 706024 621301 84723 1984998 1885748 99250 Insurance 1923535 1816504 107031 Dietary 1864238 1864238 Early termination of sw 1586716 1396310 190406 Utilities 1084020 107952 976068 3483979 3293588 190391 25234706 22031393 3203313 0 6060531 8306022 1017272 1750447 200957 200943 267741 284173 78606351 29396610 50503018 49209741 17749674 18654453 1375504 332070 77174697 78737849 1987558 2160942 12006651 11264558 37745000 36665000 1739500 1697000 1684525 207546 55163234 51995046 X 20252554 26050135 1693909 627668 65000 65000 22011463 26742803 77174697 78737849 X -605106 5336446 X 0 1 1 X 0 X 294280 196638 184218 426574 1332243 2433953 22154506 22523520 22601926 23478229 23664598 114422779 22448786 22720158 22786144 23904803 24996841 116856732 0 0 0 116856732 1060338 536830 386167 475544 472990 2931869 1060338 536830 386167 475544 472990 2931869 23509124 23256988 23172311 24380347 25469831 119788601 0.97550 0.97060 0.02450 0.02940 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5179990 5179990 62227655 23666969 38560686 6100063 1743121 4356942 5098643 3986520 1112123 49209741 Occupancy deposits 16800 Obligation under interest rate swap 190746 207546 24629600 25234706 -605106 3888192 1448254 5336446 4731340 29966046 3888192 1448254 5336446 24629600 0 24629600 25234706 0 25234706 0 25234706 Description of Uncertain Tax Positions Under FIN 48: Part X: No uncertain tax positions under FIN 48 Part XI, Line 8 - Other Adjustments: Unrealized gain/loss on interest rate swap 1,448,254. Part XII, Line 2d - Other Adjustments: Unrealized gain on interest rate swap 1,448,254. X 1 1 X 0 0 0 0 0 0 0 0 0 Wilson Sheldon Jr 166807 0 0 0 0 0 0 0 0 0 166807 0 0 0 North Carolina Medical Care Commission 521309402 657902M41 2011-11-01 37745000 Refunding prior bond issue dated 10/16/03 0 0 0 1080000 37745000 1 0 1 1 0 0 0 0 1 0 1 1 Branch Bank & Trust 7.000000000000 0 0 0 0 0 (3c) Term of Hedge Entered into two (2) year forward swap on September 27, 2012 effective September 1, 2014, for a seven (7) year term, ending November 1, 2021. Form 990, Part VI, Section B, line 11 The 990 is reviewed by the Executive Director, 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 our Financials are part of the Disclosure required by them. All Other Functional Expenses Form 990, Part X, line 24e Supplies: Program service expenses 782,439. Management and general expenses 55,360. Fundraising expenses 0. Total expenses 837,799. Repairs & maintenance: Program service expenses 809,114. Management and general expenses 0. Fundraising expenses 0. Total expenses 809,114. Contract Medical Services: Program service expenses 669,737. Management and general expenses 0. Fundraising expenses 0. Total expenses 669,737. Miscellaneous: Program service expenses 295,258. Management and general expenses 93,315. Fundraising expenses 0. Total expenses 388,573. Amortization of bond issue costs: Program service expenses 333,704. Management and general expenses 0. Fundraising expenses 0. Total expenses 333,704. Bad Debts: Program service expenses 267,792. Management and general expenses 0. Fundraising expenses 0. Total expenses 267,792. Prescription drugs, etc.: Program service expenses 92,524. Management and general expenses 0. Fundraising expenses 0. Total expenses 92,524. Telephone: Program service expenses 29,227. Management and general expenses 2,961. Fundraising expenses 0. Total expenses 32,188. Property Taxes: Program service expenses 11,036. Management and general expenses 19,220. Fundraising expenses 0. Total expenses 30,256. Dues and Subscriptions: Program service expenses 2,757. Management and general expenses 19,535. Fundraising expenses 0. Total expenses 22,292. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Net unrealized gains on investments: 3,888,192. Unrealized gain/loss on interest rate swap 1,448,254. Total to Form 990, Part XI, Line 5: 5,336,446.