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        <ManagementAndGeneral>1251984</ManagementAndGeneral>
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        <ManagementAndGeneral>22711</ManagementAndGeneral>
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        <ProgramServices>2066749</ProgramServices>
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        <ManagementAndGeneral>236388</ManagementAndGeneral>
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      <GeneralExplanation>
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      <GeneralExplanation>
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      <GeneralExplanation>
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        <Explanation>SOME DECISIONS OF THE BOARD ARE SUBJECT TO APPROVAL BY PACIFIC RETIREMENT SERVICES, AS OUTLINED IN ARTICLE II, SECTION 2 OF THE BYLAWS.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>FORM 990, PART VI, SECTION B, LINE 11</Identifier>
        <Explanation>THE FORM 990 IS CURRENTLY BEING REVIEWED BY CONTROLLER AND THE BOARD OF DIRECTORS.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 12C</ReturnReference>
        <Explanation>THE CONFLICT OF INTEREST POLICY AND QUESTIONNAIRE ARE SENT TO ALL BOARD MEMBERS AND KEY EMPLOYEES ANNUALLY. THERE ARE TWO POLICIES RELATED TO CONFLICTS OF INTEREST: 1) BOARD OF DIRECTORS; 2) KEY EMPLOYEES, WHICH IDENTIFY THE PURPOSE, DEFINITIONS, AND PROCEDURES. IF A CONFLICT IS SELF-IDENTIFIED BY A BOARD MEMBER OR KEY EMPLOYEE IN THE QUESTIONNAIRE AND/OR MEETING, PROCEDURES ARE FOLLOWED AND DOCUMENTED ACCORDING TO THE POLICY.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 15A</ReturnReference>
        <Explanation>A COMPENSATION COMMITTEE OF THE PRS BOARD EXISTS TO DETERMINE COMPENSATION FOR THE EXECUTIVE DIRECTOR OF EACH COMMUNITY. THIS COMMITTEE IS COMPRISED OF THE OFFICERS OF THE PRS BOARD OF DIRECTORS. THE COMMITTEE HAS A CHARTER THAT OUTLINES ITS DUTIES AND RESPONSIBILITIES. IT ALSO HAS AGENDA ELEMENTS THAT DESCRIBE THE ACTIVITIES THAT THE COMMITTEE UNDERTAKES DURING THE YEAR. THE VP OF HUMAN RESOURCES PROVIDED SALARY STUDIES FROM THE FOLLOWING RESOURCES TO THE COMMITTEE RELATIVE TO EXECUTIVE DIRECTOR COMPENSATION: SALARY.COM, PAYSCALE.COM, 990 REVIEW (LIKE SIZE ORGANIZATIONS), CEMO (CHIEF EXECUTIVE OFFICERS OF MULTI-FACILITY ORGANIZATIONS) SALARY STUDY RESULTS, AND INDUSTRY STATE ASSOCIATION SALARY STUDY RESULTS BASED ON GEOGRAPHICAL LOCATION. THE RECOMMENDATION FOR BASE COMPENSATION AND BONUS ARE PROVIDED BY THE ED'S DIRECT SUPERVISOR (COO OR VP OF OPERATIONS).</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION C, LINE 19</ReturnReference>
        <Explanation>ALL REQUESTS GO THROUGH THE CORPORATE COUNSEL.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>HOURS PER WEEK DEVOTED TO RELATED ORGANIZATIONS:</Identifier>
        <ReturnReference>PART VII, SECTION A:</ReturnReference>
        <Explanation>- WILLIAM L. LEEVER DEVOTES 1 HOUR PER WEEK TO EACH OF THE FOLLOWING ENTITIES: * PACIFIC RETIREMENT SERVICES * ROGUE VALLEY MANOR, INC. - HARRY E. KNIGHT DEVOTES 1 HOUR PER WEEK TO EACH OF THE FOLLOWING ENTITIES: * PACIFIC RETIREMENT SERVICES * ROGUE VALLEY MANOR, INC. * TRINITY TERRACE - LEN MERRYMAN DEVOTES 1 HOUR PER WEEK TO EACH OF THE FOLLOWING ENTITIES: * ROGUE VALLEY MANOR, INC. * CAPITOL LAKES, INC. * MIRABELLA SEATTLE * MIRABELLA PORTLAND * MIRABELLA WASHINGTON FOUNDATION - LARRY BOECK DEVOTES 1 HOUR PER WEEK TO EACH OF THE FOLLOWING ENTITIES: * CAPITOL LAKES, INC. * MIRABELLA SEATTLE * MIRABELLA PORTLAND * MIRABELLA WASHINGTON FOUNDATION - JAY T. GERBER AND PAUL HART EACH DEVOTE 1 HOUR PER WEEK TO UNIVERSITY RETIREMENT COMMUNITY FOUNDATION, INC.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>CHANGES IN NET ASSETS OR FUND BALANCES:</Identifier>
        <ReturnReference>FORM 990, PART XI, LINE 5:</ReturnReference>
        <Explanation>NET UNREALIZED LOSSES ON INVESTMENTS: -4,003,919. SWAP AGREEMENT LOSS -1,010,251. CHANGE IN INTEREST IN NET ASSETS OF URC FOUNDATION -61,618. TOTAL TO FORM 990, PART XI, LINE 5: -5,075,788.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
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          <City>MEDFORD</City>
          <State>OR</State>
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          <AddressLine1>965 ELLENDALE DRIVE</AddressLine1>
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          <BusinessNameLine1>RVM ROSEBURG HOUSING CORPORATION</BusinessNameLine1>
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        <LegalDomicileState>OR</LegalDomicileState>
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          <BusinessNameLine1>RVM MYRTLE CREEK HOUSING CORPORATION</BusinessNameLine1>
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