2011-08-15T14:09:36-05:00 2010-12-31 LarsonAllen LLP 2301 N Greenville Avenue Suite 150 Richardson TX 75082 990 2010-01-01 760347078 MRC Pinecrest MRCP 2813632600 1440 Lake Front Circle No 110 The Woodlands TX 77380 Brad Stewart 2813632600 2011-08-11 1 Troy Langsdale 9726443167 2010 2016-02-24 21:20:13Z Ron Jennette 1440 Lake Front Circle No 110 The Woodlands TX 77380 11339134 0 X www.mrcaff.org X 1991 TX The organization's mission commits it to providing quality living for senior adults in a Christian environment. The organization envisions meeting the evolving needs of current as well as future residents. The organization takes pride in being an important part of the local community as it serves seniors and provides employment to meet its mission of service ministry to senior adults. While its core values tie to its covenant affiliation with the Texas Annual Conference of United Methodists, the organization openly accepts persons of all faiths as residents, staff, board members, volunteers, etc. with no discrimination. The organization also participates and accepts payment through the Medicare and Medicaid programs as well as private pay and certain insurance plans. The organization solicits donations to assist and retain residents who run low on funds or eventually even out of money through no fault of their own. 10 9 0 8 0 0 193468 126001 10713712 10885294 83946 53476 162029 274363 11153155 11339134 952220 1369775 0 0 5172896 5108435 0 0 200117 5114083 4897408 11239199 11375618 -86044 -36484 4403072 4247774 8493248 8390850 -4090176 -4143076 X The organization's mission commits it to providing quality living for senior adults in a Christian environment. The organization envisions meeting the evolving needs of current as well as future residents. The organization takes pride in being an important part of the local community as it serves seniors and provides employment to meet its mission of service ministry to senior adults. While its core values tie to its covenant affiliation with the Texas Annual Conference of United Methodists, the organization openly accepts persons of all faiths as residents, staff, board members, volunteers, etc. with no discrimination. The organization also participates and accepts payment through the Medicare and Medicaid programs as well as private pay and certain insurance plans. The organization solicits donations to assist and retain residents who run low on funds or eventually even out of money through no fault of their own. 0 0 10375033 10885294 The organization provided nursing assistance and housing for all of the elderly residents they serve. At this location, this is accomplished through the provision of services, programs, activities, housing and care in several settings to include residential and assisted living apartments, skilled nursing units, rehabilitation therapies and home health. 10375033 1 1 0 0 0 0 0 0 0 0 0 1 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 75 0 0 0 0 0 0 0 0 0 0 0 0 X 10 9 0 1 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X Bradley Stewart 2813632600 1440 Lake Front Circle Ste 110 The Woodlands TX 77380 Mr Michael H Taylor 1.00 X X 0 0 0 Ms Catherine S Roberts 1.00 X X 0 0 0 Mr Ronald E Jennette 5.00 X X 0 213219 0 Ms Kimberly Davis 5.00 X X 0 8375 0 Ms Carol Chmielewski 5.00 X X 0 48202 0 Ms Renee Stavroff 1.00 X X 0 66586 0 Mr Bradley Stewert 1.00 X X 0 155279 0 Mr Chuck Childress 10.00 X X 0 116000 0 Mr J Mack Coward 1.00 X 0 0 0 Mr J Phillip Friesen 1.00 X 0 0 0 Mr Harold C Maxwell 1.00 X 0 0 0 Mr Donald N Morriss 1.00 X 0 0 0 Dr Jerry Pennington 1.00 X 0 0 0 Mr Jack C Sweeney 1.00 X 0 0 0 Gen Orren R Whiddon 1.00 X 0 0 0 0 607661 0 0 0 1 0 Sodexo PO Box 536922 Atlanta GA 30353 Food Supplier 529308 The Summit Health & Rehab Services Inc 4019 Hwy 98 W Summit MS 39666 Therapy Service 375618 US Food Service 1992 Forest Lane Garland TX 75042 Food Supplier 287136 Cox Contractors Inc 4720 East Main Street Nacadoches TX 75961 Building Supplier 152860 4 75066 50935 126001 Nursing 623000 6259742 6259742 Residential 623000 3673622 3673622 Entrance Fee Amortizat 623990 951930 951930 10885294 53476 53476 Beauty & Barber Shop 812900 84214 84214 Gift Shop & Market 453220 52153 52153 Employee & Guest Meals 624200 15583 15583 122413 122413 274363 11339134 10885294 0 327839 1369775 1369775 4645428 4180885 371634 92909 31899 28709 2552 638 431108 387997 34489 8622 608277 547449 48662 12166 3447 3102 276 69 23683 21314 1895 474 227733 204959 18219 4555 55759 50183 4461 1115 62558 56303 5005 1250 45603 41043 3648 912 886538 797884 70923 17731 15911 14320 1273 318 29 26 2 1 947621 852859 75810 18952 Food & Entertainment 748054 673249 59844 14961 Healthcare 614949 553454 49196 12299 Vehicle & Maintenance 405842 365258 32467 8117 Other 141815 127634 11345 2836 Supplies & Equipment 109589 98630 8767 2192 11375618 10375033 800468 200117 768360 674380 324008 325667 119088 122578 10225 14317 1633808 1375469 1547583 1735363 4403072 4247774 720846 669410 7772402 7721440 8493248 8390850 X -4090176 -4143076 -4090176 -4143076 4403072 4247774 X -36484 -16416 X X 0 1 1 X 0 X 360466 55348 102728 193468 126001 838011 7485106 9543217 10566118 10713712 10885294 49193447 7845572 9598565 10668846 10907180 11011295 50031458 0 0 0 50031458 152019 177667 139701 83946 53476 606809 152019 177667 139701 83946 53476 606809 119310 129205 144608 162029 274363 829515 8116901 9905437 10953155 11153155 11339134 51467782 0.97210 0.97080 0.01180 0.01270 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 Investments 1375469 F 1375469 Mortgage Escrow Deposits 345836 Construction Funds 233841 Entry Fee Deposits 324212 Security Deposits 49044 Notes Receivable 782430 1735363 Refundable Fees 2779880 Room Escrow & Security Deposits 245527 Unamortized Entry Fees 4696033 7721440 11339134 11375618 -36484 -16416 -16416 -52900 11264068 0 11264068 75066 75066 11339134 10650395 1040659 1040659 9609736 1765882 1765882 11375618 Description of Uncertain Tax Positions Under FIN 48: Part X: The Project follows the accounting standards for contingencies in evaluating uncertain tax positions. The Project's income tax returns are subject to review and examination by federal, state, and local authorities. The Project is not aware of any activities that would jeopardize its tax-exempt status. The Project is not aware of any activities that are subject to tax on unrelated business income or excise or other taxes. The Project's 2007 through 2010 tax years are open to examination by the IRS. Part XII, Line 4b - Other Adjustments: Equity Transfer 75,066. Part XIII, Line 2d - Other Adjustments: Depreciation and Interest on Books Not on Return 1,040,659. Part XIII, Line 4b - Other Adjustments: Lease Payments and Capital Additions Paid to Landlord on Return not Books 1,765,882. 0 Aldersgate Trust 1440 Lake Front Circle Ste 110 The Woodlands TX 77380 766176219 501(c)(3) 1369775 Fair Market Value Fixed Assets MRC Pinecrest transferred to Aldersgate Trust fixed assets worth $1,369,775. 1 X X 0 0 0 0 0 0 0 0 0 Mr Ronald E Jennette 0 213219 0 0 0 0 0 0 0 0 0 213219 0 0 Mr Bradley Stewert 0 155279 0 0 0 0 0 0 0 0 0 155279 0 0 Form 990, Part VI, Section A, line 3 The management company of this entity is MRC, a related organization. Form 990, Part VI, Section A, line 6 Methodist Retirement Communities approves appointment of the Board of Directors. Form 990, Part VI, Section A, line 7a Methodist Retirement Communities, a related organization, approves appointment of the Board of Directors. Form 990, Part VI, Section A, line 7b Methodist Retirement Communities, a related organization, has a right to approve or reject any decisions made by the governing body. Form 990, Part VI, Section B, line 11 The management team currently reviews all Form 990's prior to filing with the IRS. They compare the results to the audited financial statements and review all disclosure information. The 990 is made available to the Board for their review. Form 990, Part VI, Section B, line 12c The organization requires signed affidavit identifying conflict of interest by annual board meeting of MRC each year. Form 990, Part VI, Section B, line 15 Salary for the CEO, executive director, or top management official is set by the MRC Board. In deciding compensation of other officers or key employees Human Resources collects comparability data from industry resources related to all industry-related positions. This is shared with appropriate supervisors or others in approval process. Form 990, Part VI, Section C, line 19 Governing documents, conflict of interest policy, and financial statements are available upon request. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Net unrealized losses on investments: -16,416. Form 990, Page 12, Part XI, Line 2C: The organization has a committee which assumes responsibility for choosing the independent auditor and oversight of the independent audit. This process is consistent with prior years. Form 990, Part IX, Line 1: The organization makes all necessary repairs and additions to the leased premises. All capital additions are paid to the landlord and reported here. Form 990, Part IX, Line 16: The organization leases the property from a related property. Lease payments are equal to debt service payments and outstanding debt encumbered by the leased property. Lease payments are included here. Methodist Retirement Communities 1440 Lake Front Circle Ste 110 The Woodlands TX 77380 741403088 Provide housing for elderly & handicapped individuals TX 501(c)(3) Line 9 N/A 0 MRC Crestview 2503 E Villa Maria Road Bryan TX 77802 760520414 Provide housing for elderly & handicapped individuals TX 501(c)(3) Line 9 N/A 0 MRC Edgewater 2224 Seawall Boulevard Galveston TX 77550 760486730 Provide housing for elderly & handicapped individuals TX 501(c)(3) Line 9 N/A 0 MRC Cornerstone 4100 Moores Lane Texarkana TX 75503 760454486 Provide housing for elderly & handicapped individuals TX 501(c)(3) Line 9 N/A 0 Happy Harbor Methodist Home Inc 1106 Bayshore Drive La Porte TX 77571 746078737 Provide housing for elderly & handicapped individuals TX 501(c)(3) Line 9 N/A 0 Happy Harbor Senior Housing 900 Parkway La Porte TX 77571 760674922 Provide housing for elderly & handicapped individuals TX 501(c)(3) Line 9 N/A 0 MRC Crestview Place 2503 E Villa Maria Road Bryan TX 77802 742989751 Provide housing for elderly & handicapped individuals TX 501(c)(3) Line 9 N/A 0 MRC Town Creek 1115 Avenue O Huntsville TX 77340 760668992 Provide housing for elderly & handicapped individuals TX 501(c)(3) Line 9 N/A 0 Crestview Unity 2507 E Villa Maria Road Bryan TX 77802 760697463 Provide housing for elderly & handicapped individuals TX 501(c)(3) Line 9 N/A 0 The Pinecrest Retirement Trust 1440 Lake Front Circle Ste 110 The Woodlands TX 77380 752802726 Provide housing for elderly & handicapped individuals TX 501(c)(3) Line 11a, I N/A 0 Moody House 2228 Seawall Boulevard Galveston TX 77550 205356292 Provide housing for elderly & handicapped individuals TX 501(c)(3) Line 9 N/A 0 Bayview Senior Housing 1111 Bayshore Drive La Porte TX 77571 208289146 Provide housing for elderly & handicapped individuals TX 501(c)(3) Line 9 N/A 0 MRC Crestview Terrace 2501 E Villa Maria Road Bryan TX 77802 760669542 Provide housing for elderly & handicapped individuals TX 501(c)(3) Line 9 N/A 0 United Methodist Senior Services Foundation 1440 Lake Front Circle Ste 110 The Woodlands TX 77380 205992404 Provide housing for elderly & handicapped individuals TX 501(c)(3) Line 11a, I N/A 0 Aldersgate Trust 1440 Lake Front Circle Ste 110 The Woodlands TX 77380 766176219 Provide housing for elderly & handicapped individuals TX 501(c)(3) Line 11a, I N/A 0 NFP Assurance Group 1440 Lake Front Circle Ste 110 The Woodlands TX 77380 980405035 Captive Insurance TX No C 0 1 1 1 1 0 0 0 0 1 0 0 0 0 0 0 0 0 Pinecrest Retirement Trust C 75066 Fair Market Value Aldersgate Trust B 1369775 Fair Market Value Aldersgate Trust J 396107 Fair Market Value Pinecrest Retirement Trust E 1381774 Fair Market Value Methodist Retirement Communities D 1277369 Fair Market Value