2011-08-30T07:19:24-05:00 2010-12-31 MOORE STEPHENS LOVELACE PA 14400 NW 77TH COURT SUITE 306 MIAMI LAKES FL 33016 990 2010-01-01 311671731 SKIDAWAY HEALTH AND LIVING SERVICES INC SKID 9125983601 95 SKIDAWAY ISLAND PARK ROAD SAVANNAH GA 31411 TOM CURLESS 9125983601 2011-08-30 1 KARIN E VICKERS 3058199555 2010 2016-02-24 21:20:13Z THOMAS L CURLESS 95 SKIDAWAY ISLAND PARK ROAD SAVANNAH GA 31411 13746291 0 X WWW.MARSHESOFSKIDAWAY.ORG X 1999 GA THE MARSHES OF SKIDAWAY ISLAND IS A COMMUNITY BASED NON-PROFIT ORGANIZATION COMMITTED TO SERVING SENIORS WITH A DIVERSITY OF NEEDS. AS RESPONSIBLE STEWARDS, OUR MISSION IS TO MAINTAIN THE HIGHEST STANDARDS OF FACILITIES AND CARE. WE ARE DEDICATED TO CONTINUOUS QUALITY IMPROVEMENT TO ENSURE RESIDENTS ARE PROVIDED WITH OPPORTUNITIES TO REACH THEIR HIGHEST POTENTIAL OF LIFE. 12 12 244 1 0 0 0 5630 12687952 13722420 9298 18241 0 0 12697250 13746291 0 0 0 0 4610982 4730800 0 0 0 10839395 10949872 15450377 15680672 -2753127 -1934381 90758563 90339358 112543615 114058791 -21785052 -23719433 X THE MARSHES OF SKIDAWAY ISLAND IS A COMMUNITY BASED NON-PROFIT ORGANIZATION COMMITTED TO SERVING SENIORS WITH A DIVERSITY OF NEEDS. AS RESPONSIBLE STEWARDS, OUR MISSION IS TO MAINTAIN THE HIGHEST STANDARDS OF FACILITIES AND CARE. WE ARE DEDICATED TO CONTINUOUS QUALITY IMPROVEMENT TO ENSURE RESIDENTS ARE PROVIDED WITH OPPORTUNITIES TO REACH THEIR HIGHEST POTENTIAL OF LIFE. 0 0 7793936 8404658 THE ORGANIZATION IS A CONTINUING CARE RETIREMENT COMMUNITY ("CCRC") OPERATING UNDER THE NAME "THE MARSHES OF SKIDAWAY ISLAND" (THE "COMMUNITY") AND OPERATES UNDER THE "CONTINUING CARE" CONCEPT IN WHICH RESIDENTS ENTER INTO OCCUPANCY AGREEMENTS, THAT REQUIRE PAYMENT OF A ONE-TIME ENTRANCE FEE AND A MONTHLY SERVICE FEE. THE COMMUNITY INCLUDES 182 INDEPENDENT LIVING UNITS, 167 OF WHICH WERE OCCUPIED AS OF DECEMBER 31, 2010. 2069086 2231217 THE COMMUNITY'S SKILLED NURSING FACILITY OFFERS 24-HOUR NURSING NURSING SERVICES VIA 15 SKILLED NURSING CARE BEDS. 2650474 2858161 THE COMMUNITY'S ASSISTED LIVING FACILITY OFFERS 24-HOUR ASSISTANCE TO RESIDENTS OF 29 ASSISTED LIVING UNITS. 211789 228384 OTHER SERVICES INCLUDE FOOD SERVICE, IN-HOME HEALTH CARE AND MEMORY CARE. 211789 228384 12725285 1 0 0 0 0 0 0 0 0 1 1 0 0 1 0 1 0 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 37 0 1 244 1 0 0 0 0 0 0 0 0 0 0 X 12 12 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 X AMANDA ELLIOTT 9125985030 95 SKIDAWAY ISLAND PARK ROAD SAVANNAH GA 31411 X PETER M WRIGHT ESQ 0.50 X X 0 0 0 RUSSELL PETERSON 0.50 X X 0 0 0 WILLIAM E CRAIG 0.50 X X 0 0 0 DOROTHY W COURINGTON II 0.50 X X 0 0 0 THOMAS L CURLESS 0.50 X X 0 0 0 SYLVIA FIELDS PHD RN 0.50 X 0 0 0 LISA BIRCH 0.50 X 0 0 0 KEITH DIMOND MD 0.50 X 0 0 0 STEWART BROMLEY CPA CFP 0.50 X 0 0 0 ROBERT DIBENEDETTO MD 0.50 X 0 0 0 WILLIAM G FOSTER SR 0.50 X 0 0 0 JOHN C KANE 0.50 X 0 0 0 0 0 0 0 0 0 0 LIFE CARE SERVICES LLC 400 LOCUST STE 820 DES MOINES IA 50309 MANAGEMENT FEES 651827 HERITAGE HEALTHCARE 536 OLD HOWELL RD GREENVILLE SC 29615 THERAPY CONTRACTOR 362408 2 5630 5630 MONTHLY SERVICE FEES 623000 8404658 8404658 SKILLED NURSING FACILI 623000 2858161 2858161 EARNED ENTRANCE FEES 623000 2231217 2231217 FOOD SERVICE 623000 156275 156275 72109 72109 13722420 17268 17268 973 973 973 973 13746291 13722420 0 18241 4150213 3378238 771975 11633 11633 263972 200682 63290 304982 252540 52442 628090 628090 1500 1500 57652 57652 76706 76706 312997 312997 411831 371340 40491 5079 5079 1061517 1061517 38950 24248 14702 11854 11854 3339965 3339965 2931993 2931993 858511 56691 801820 NURSING AND ANCILLARY 559050 559050 FOOD SERVICE 543942 543942 MISCELLANEOUS 36810 36810 BAD DEBTS 33000 33000 TAXES AND LICENSES 24107 24107 16318 16318 15680672 12725285 2955387 0 133468 293492 1662050 1494434 467790 1952633 79553 85169 237320 181473 87575596 12879393 76725940 74696203 7770861 8372350 515490 480670 3166091 2782934 90758563 90339358 2730741 5072459 60958560 60324191 44285375 43741835 565000 600000 4003939 4320306 112543615 114058791 X -21785052 -23719433 -21785052 -23719433 90758563 90339358 -1934381 0 X X 0 1 1 X 0 X 5630 5630 6698989 10085019 11381728 12687952 13722420 54576108 6698989 10085019 11381728 12687952 13728050 54581738 0 0 0 54581738 618077 265069 99543 9298 17268 1009255 618077 265069 99543 9298 17268 1009255 502705 502705 7317066 10852793 11481271 12697250 13745318 56093698 0.97300 0.95520 0.01800 0.03350 X 4945156 4945156 80708689 11754346 68954343 1713241 966023 747218 208510 159024 49486 74696203 ASSETS WHOSE USE IS LIMITED 8372350 F 8372350 ACCRUED INTEREST 3811962 DEPOSITS 508344 4320306 13746291 15680672 -1934381 0 -1934381 13739688 0 13739688 6603 6603 13746291 15674069 0 15674069 6603 6603 15680672 PART XII, LINE 4B - OTHER ADJUSTMENTS: GAIN ON SALE OF ASSETS 973. GIFT & CONTRIBUTIONS 5,630. PART XIII, LINE 4B - OTHER ADJUSTMENTS: GAIN ON SALE OF ASSETS 973. GIFT & CONTRIBUTIONS 5,630. SAVANNAH ECON DEV AUTH FIXED RATE FIRST MORT BONDS SERIES 2003A 586001588 80483CDM0 2003-11-19 33375000 DEVELOP AND CONSTRUCT FACILITIES AND RELATED COSTS 0 0 0 SAVANNAH ECON DEV AUTH ADJ RATE FIRST MORT BONDS SERIES 2003B 586001588 80483CDN8 2003-11-19 6000000 DEVELOP AND CONSTRUCT FACILITIES AND RELATED COSTS 0 0 0 SAVANNAH ECON DEV AUTH SUBORDINATE REV BONDS SERIES 2003D 586001588 NONEAVAIL 2003-11-19 5230000 DEVELOP AND CONSTRUCT FACILITIES AND RELATED COSTS 0 0 0 SAVANNAH ECON DEV AUTH JR SUBORDINATE REV BONDS SERIES 2003E 586001588 NONEAVAIL 2003-11-19 1900000 DEVELOP AND CONSTRUCT FACILITIES AND RELATED COSTS 0 0 0 32813370 3494852 29318518 2006 0 0 0 0 6000000 6000000 2006 0 0 0 0 5240203 5240203 2006 0 0 0 0 1900000 1900000 2006 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 SCHEDULE K, PART I, LINE A, COL (C) SAVANNAH ECON. DEV. AUTH. FIXED RATE FIRST MORT. BONDS, SERIES 2003A THE CUSIP NUMBERS FOR THE SAVANNAH ECONOMIC DEVEVELOPMENT AUTHORITY FIXED RATE FIRST MORTGAGE BONDS, SERIES 2003A ARE AS FOLLOWS: 80483CDH1 (MATURITY DATE: 1/1/09) 80483CDJ7 (MATURITY DATE: 1/1/19) 80483CDK4 (MATURITY DATE: 1/1/24) 80483CDL2 (MATURITY DATE: 1/1/12) 80483CDM0 (MATURITY DATE: 1/1/34) SCHEDULE K, PART II, LINE 3 ADDITIONAL INFORMATION RELATED TO BOND ISSUANCE: THE TOTAL PROCEEDS FOR SERIES 2003A BOND ISSUE ARE NOT IDENTICAL TO THE ISSUE PRICE LISTED IN PART I, COLUMN (E), THE DIFFERENCE IS A UNDERWRITERS DISCOUNT OF $561,630. FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION USES A MANAGEMENT COMPANY, LIFE CARE SERVICES LLC (LCS), FOR ITS OPERATIONS. THE EXECUTIVE DIRECTOR AND ADMINISTRATOR OF THE HEALTH CARE CENTER ARE BOTH LCS EMPLOYEES. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED IN ITS ENTIRETY BY THE EXECUTIVE DIRECTOR BEFORE IT IS FILED WITH THE IRS. A COPY OF THE FORM 990, AS ULTIMATELY FILED WITH THE IRS, IS PROVIDED TO EACH VOTING MEMBER OF THE ORGANIZATION'S GOVERNING BODY BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS MONITORS AND ENFORCES COMPLIANCE WITH THE ORGANIZATION'S CONFLICT OF INTEREST POLICY WHENEVER A CONFLICT IS IDENTIFIED THROUGH THE ANNUAL DISCLOSURE PROCESS. THE BOARD DETERMINES WHETHER A CONFLICT EXISTS AND, IN THE CASE OF AN EXISTING CONFLICT, WHETHER THE CONTEMPLATED TRANSACTION MAY BE AUTHORIZED AS JUST, FAIR, AND REASONABLE TO THE ORGANIZATION. THE DECISION OF THE BOARD ON THESE MATTERS RESTS IN THEIR DISCRETION, AND THEIR CONCERN IS THE WELFARE OF THE ORGANIZATION AND THE ADVANCEMENT OF ITS PURPOSE. TRANSACTIONS WITH PARTIES WITH WHOM A CONFLICTING INTEREST EXISTS MAY BE UNDERTAKEN ONLY IF ALL OF THE FOLLOWING ARE OBSERVED: 1. THE CONFLICTING INTEREST IS FULLY DISCLOSED; 2. THE PERSON WITH THE CONFLICT OF INTEREST IS EXCLUDED FROM THE DISCUSSION AND APPROVAL OF SUCH TRANSACTION; 3. A COMPETITIVE BID OR COMPARABLE VALUATION EXISTS; AND 4. THE BOARD OR HAS DETERMINED THAT THE TRANSACTION IS IN THE BEST INTEREST OF THE ORGANIZATION. THE ORGANIZATION USES AN INDEPENDENT MANAGEMENT COMPANY. THEREFORE, IT DOES NOT DIRECTLY PAY COMPENSATION TO THE CEO, EXECUTIVE DIRECTOR, TOP MANAGEMENT OFFICIALS, OTHER OFFICERS AND KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST AND FOR REVIEW IN ITS OFFICE. OVERSIGHT OF AUDIT FORM 990, PART XII, LINE 2C THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS HAS RESPONSIBILITY FOR OVERSIGHT OF AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.