2024-05-10T17:02:09-05:00 2023-06-30 410746749 CLIFTONLARSONALLEN LLP 150 S WARNER ROAD SUITE 310 KING OF PRUSSIA PA 19406 990 2022-07-01 521381348 ANNAPOLIS LIFE CARE INC ANNA 4102667300 4000 RIVER CRESCENT DRIVE ANNAPOLIS MD 21401 D RAY FISHER CEO 4102667300 2024-05-09 1 D RAY FISHER 999009999 1 BERNADETTE DANIEL P00026171 2156433900 2024-04-30 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z GINGER COVE D RAY FISHER 4000 RIVER CRESCENT DRIVE ANNAPOLIS MD 21401 30623722 0 X WWW.GINGERCOVE.COM X 1988 MD TO OWN AND OPERATE A CONTINUING CARE COMMUNITY FOR CONTRACT HOLDERS OF THE AGE OF 60 AND OLDER 16 16 338 75 0 0 2168216 2031280 21341994 23337191 1353740 809830 185021 179403 25048971 26357704 0 0 0 0 10575177 13196110 0 0 0 14911275 16230812 25486452 29426922 -437481 -3069218 106144465 116720776 165983837 169173393 -59839372 -52452617 OUR VISION - A PREMIER LIFE-CARE COMMUNITY COMMITTED TO QUALITY. OUR MISSION - TO PROVIDE RESIDENTS AN ABUNDANT LIFE. OUR VALUES - RESIDENT INDEPENDENCE, DIGNITY, SECURITY, STAFF EXCELLENCE, BUSINESS INTEGRITY, AND FISCAL PRUDENCE. 0 0 15011393 0 15267872 ANNAPOLIS LIFE CARE, INC. OPERATES A LIFE-CARE COMMUNITY WHICH OFFERS THREE LEVELS OF CARE. THESE CONSIST OF INDEPENDENT LIVING, ASSISTED LIVING, AND NURSING.INDEPENDENT LIVING - THE ORGANIZATION PROVIDES HOUSING FOR CERTAIN CONTRACT HOLDERS, HEALTH CARE, AND RECREATIONAL ACTIVITIES FOR SENIOR CITIZENS WHO ARE STILL ABLE TO MAINTAIN AN ACTIVE LIFESTYLE. THERE WERE 232 INDEPENDENT LIVING UNITS AVAILABLE WITH AN AVERAGE OCCUPANCY RATE OF 85%. 4355186 0 4428784 SKILLED NURSING - THE ORGANIZATION HAS A 55-BED COMPREHENSIVE CARE COMMUNITY HEALTH CENTER FOR RESIDENTS WHO REQUIRE A HIGH LEVEL OF SKILLED NURSING ASSISTANCE. TEMPORARY AND PERMANENT CARE DAYS TOTALED 13,193. 3579605 0 3640535 ASSISTED LIVING - THIS PROGRAM IS FOR SENIOR CITIZENS WHO MAY NEED ADDITIONAL HELP TO MAINTAIN A HEALTHY LIFESTYLE BUT WHO DO NOT REQUIRE SKILLED NURSING. THE ORGANIZATION HAS 50 UNITS FOR ASSISTED LIVING, 15 MEMORY CARE UNITS, AND 6 BEDS IN THE HEALTH CENTER WHICH PROVIDED A TOTAL OF 21,188 LIFE CARE DAYS. 22946184 1 1 0 1 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 97 0 1 338 1 0 0 0 0 0 0 0 0 0 0 0 0 X 16 16 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MD X MARY BETH HOLLY 4102667300 4000 RIVER CRESCENT DRIVE ANNAPOLIS MD 21401 D RAY FISHER CEO 40.00 0.00 X 235271 0 936 PHYLLIS BOULDEN ADMINISTRATOR 40.00 0.00 X 183929 0 24342 MARY BETH HOLLY CFO AS OF OCT 2022, FINANCE DIRECTOR 40.00 0.00 X 144506 0 18375 MASERAY BAYOH-SENSIE DIRECTOR OF NURSING 40.00 0.00 X 157206 0 5538 DIVINE ESSEM WELLNESS NURSE 40.00 0.00 X 139144 0 15784 JACK PELLETIER DIR OF PLANT/PROJECT MANAGER 40.00 0.00 X 126484 0 14882 MARIE O'SHEA MARKETING DIRECTOR 40.00 0.00 X 114679 0 13309 MICHELLE MCKENZIE RN SUPERVISOR 40.00 0.00 X 115479 0 748 DANIEL BOWLER PRESIDENT 5.00 2.00 X X 0 0 0 MARGARET JACKSON VICE PRESIDENT 5.00 0.00 X X 0 0 0 MICHAEL LORD TREASURER 5.00 0.00 X X 0 0 0 PATRICIA BERTSCHE SECRETARY 5.00 0.00 X X 0 0 0 KAREN COFFMAN DIRECTOR 2.00 0.00 X 0 0 0 FREDERICK FRANKE DIRECTOR 2.00 0.00 X 0 0 0 FRANCES HALL DIRECTOR 2.00 0.00 X 0 0 0 CHERYL KAMINSKA DIRECTOR 2.00 2.00 X 0 0 0 JIM KOEHR DIRECTOR 2.00 0.00 X 0 0 0 SANDRA MAYO DIRECTOR 2.00 0.00 X 0 0 0 KATHLEEN MORRISON DIRECTOR 5.00 2.00 X 0 0 0 PETER ODENWALD DIRECTOR 2.00 0.00 X 0 0 0 ROBERT PETTY DIRECTOR 2.00 0.00 X 0 0 0 JULIE RHODOVI DIRECTOR 2.00 0.00 X 0 0 0 ROBERT SHERER DIRECTOR 2.00 0.00 X 0 0 0 EDWARD WALLACE DIRECTOR 2.00 0.00 X 0 0 0 1216698 0 93914 10 0 1 0 SELECT REHABILITATION PO BOX 71985 CHICAGO IL 606941985 THERAPY SERVICES 970481 WAVERLY CONSTRUCTION & MANAGEMENT INC 1515 SULPHUR SPRING RD BALTIMORE MD 21227 CONSTRUCTION SERVICES 952067 FLIK LIFESTYLES 2400 YORKMONT ROAD CHARLOTTE NC 28217 DINING SERVICES 716665 WF HAISLIP JR CONSTRUCTION 807 GOVERNORS BRIDGE RD DAVIDSONVILLE MD 21035 CONSTRUCTION SERVICES 533814 CAPITAL INSURANCE RESTORATIONS 801 MALLET HILL LANE MILLERSVILLE MD 21108 CONSTRUCTION SERVICES 427153 21 59448 1971240 592 2031280 RESIDENT SERVICE FEES 621610 19692699 19692699 HEALTH CENTER FEES 621610 2360380 2360380 ENTRANCE FEES EARNED 621610 1284112 1284112 23337191 635616 635616 33934 1400 32534 32534 32534 4392376 4218162 174214 174214 174214 29935 46456 -16521 -16521 BEAUTY/BARBER SHOP 621610 120381 120381 CATERING INCOME 621610 37145 37145 GUEST MEALS 621610 5864 5864 163390 26357704 23337191 0 989233 676049 676049 10636233 9039220 1597013 130220 113139 17081 917345 755863 161482 836263 670382 165881 210304 210304 63963 63963 2106 2106 92258 92258 1899593 1313770 585823 676921 676921 534874 467767 67107 172010 19752 152258 2318113 1644634 673479 1745183 1745183 4162419 4162419 319396 319396 FOOD 1608817 1608817 MAINTENANCE AND REPAIR 800212 721237 78975 MEDICAL SUPPLIES 329869 328791 1078 DUES, LICENSES, FEES 71883 8923 62960 1222891 346287 876604 29426922 22946184 6480738 0 4973245 4805577 3996069 3124066 708043 6804745 231805 313618 297858 402695 135939413 64642595 67483986 71296818 19157427 18881843 6815035 7502128 2029278 2310472 451719 1278814 106144465 116720776 3215381 3022843 101120141 105238721 45721030 44691735 15927285 16220094 165983837 169173393 X -61483941 -54145729 1644569 1693112 -59839372 -52452617 106144465 116720776 X -3069218 1281708 9174265 X 0 1 X 1 0 X 385592 1384281 106200 2168216 2031280 6075569 20923250 21020734 19983190 21341994 23337191 106606359 205694 213840 140526 197131 193325 950516 21514536 22618855 20229916 23707341 25561796 113632444 437340 1192458 413849 469853 381232 2894732 0 437340 1192458 413849 469853 381232 2894732 110737712 565771 718779 619709 635499 669550 3209308 20618 37218 57836 586389 755997 619709 635499 669550 3267144 22100925 23374852 20849625 24342840 26231346 116899588 0.94730 0.93840 0.02790 0.03190 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 2106 2106 0 PART II-B, LINE 1: ANNAPOLIS LIFE CARE INC. IS A MEMBER OF THE INDUSTRY GROUP LEADING AGE. THE ORGANIZATION PAID $16,300 IN MEMBERSHIP DUES TO LEADING AGE, OF WHICH 12.92% IS ALLOCATED TO LOBBYING EXPENSES. 3735917 3735917 91842828 42916954 48925874 24473379 13022328 11451051 10823565 8703313 2120252 5063724 5063724 71296818 COLLINS CAPITAL LOW VOLATILITY PERFORMANCE LTD. II SPECIAL INVESTMENTS 30030 F WMS PARTNERS INCOME OPPORTUNITY FUND B, LLC 41997 F MERCER STRATEGIC SOLUTIONS LLC INTERNATIONAL EQUITIES SERIES 5688591 F HARVEST EDGE GLOBAL RISK PREMIA EQUITY, LP 1292769 F WELLINGTON TRUST CO CTF ENDURING ASSET 448741 F 7502128 WAIT LIST AND ENTRANCE FEE DEPOSITS 7830922 ESTIMATED OBLIGATION TO PROVIDE FUTURE SERVICES 6526000 REFUNDS PAYABLE 1863172 16220094 X 36463652 1281708 9174265 10455973 26007679 350025 350025 26357704 29076897 1400 1400 29075497 351425 351425 29426922 PART X, LINE 2: THE CORPORATION IS A NONPROFIT ENTITY AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM INCOME TAXES ON RELATED ACTIVITIES PURSUANT TO SECTION 509(A) OF THE INTERNAL REVENUE CODE. THE CORPORATION FOLLOWS THE PROVISIONS OF ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN A COMPANY'S FINANCIAL STATEMENTS, INCLUDING NONPROFIT CORPORATIONS, AND PRESCRIBES A RECOGNITION THRESHOLD OF MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD HAS BEEN MET. THE STANDARDS ALSO PROVIDE GUIDANCE ON DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, AND DISCLOSURE. MANAGEMENT HAS DETERMINED THAT THIS STANDARD DOES NOT HAVE A MATERIAL IMPACT ON THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN INTEREST OF SUBSIDIARY 281,194. UNREALIZED GAIN ON INTEREST RATE SWAP 2,543,071. CHANGE IN FUTURE SERVICE OBLIGATION 6,350,000. PART XI, LINE 4B - OTHER ADJUSTMENTS: DIRECT RENTAL EXPENSES -1,400. EMPLOYEE RETENTION CREDIT EXPENSES 351,425. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT RENTAL EXPENSES 1,400. PART XII, LINE 4B - OTHER ADJUSTMENTS: EMPLOYEE RETENTION CREDIT EXPENSES 351,425. X X X X 0 0 0 0 0 0 0 1 0 D RAY FISHER CEO 215271 0 20000 0 0 0 0 0 936 0 236207 0 0 0 PHYLLIS BOULDEN ADMINISTRATOR 173196 0 10733 0 0 0 5422 0 18920 0 208271 0 0 0 MARY BETH HOLLY CFO AS OF OCT 2022, FINANCE DIRECTOR 137506 0 7000 0 0 0 4002 0 14373 0 162881 0 0 0 MASERAY BAYOH-SENSIE DIRECTOR OF NURSING 148690 0 8516 0 0 0 4442 0 1096 0 162744 0 0 0 DIVINE ESSEM WELLNESS NURSE 134993 0 4151 0 0 0 4152 0 11632 0 154928 0 0 0 SCHEDULE J, PART I, LINE 7: THE CEO AND OTHER KEY EMPLOYEES ESTABLISH GOALS AND OBJECTIVES FOR THE UPCOMING YEAR. THESE GOALS AND OBJECTIVES ARE REVIEWED ANNUALLY BY THE BOARD FOR THE CEO AND BY EACH KEY EMPLOYEES' DIRECT SUPERVISOR. THE ACCOMPLISHMENT OF THESE GOALS IS TAKEN INTO CONSIDERATION WHEN DETERMINING BONUSES. THE BONUS RANGE IS 5% TO 8% OF SALARY FOR DIRECTORS AND UP TO 10% OF BASE SALARY FOR THE CEO. ALL COMPENSATION ADJUSTMENTS ARE MEASURED AGAINST INDUSTRY STANDARDS TO ENSURE COMPENSATION IS SET WITHIN FAIR MARKET RANGE FOR THE INDUSTRY. FOR EACH EMPLOYEE LISTED ON FORM 990, PART VII, THIS BONUS IS INCLUDED IN THE 2022 FORM W-2 AS FOLLOWS: D. RAY FISHER, CEO - $20,000 PHYLLIS BOULDEN, ADMINISTRATOR - $10,733 MARY BETH HOLLY, CFO AS OF OCT 2022, FINANCE DIRECTOR - $7,000 MASERAY BAYOH-SENSIE, DIRECTOR OF NURSING - $8,516 DIVINE ESSEM, WELLNESS NURSE - $1,500 JACK PELLETIER, DIR OF PLANT/PROJECT MANAGER - $6,500 (CONTINUED ON NEXT PAGE) AMOUNT FROM THE EMPLOYEE APPRECIATION FUND FROM THE ANNAPOLIS LIFE CARE RESIDENTS' CLUB REPORTED AS BONUS AND INCLUDED IN THE 2022 FORM W-2: DIVINE ESSEM, WELLNESS NURSE - $2,651 MICHELLE MCKENZIE, RN SUPERVISOR - $2,565 A MARYLAND HEALTH AND HIGHER EDUCATION FACILITIES AUTHORITY 520936091 2018-08-21 38981000 REFUND 9/17/2014 BONDS 0 0 0 B MARYLAND HEALTH AND HIGHER EDUCATION FACILITIES AUTHORITY 520936091 2018-08-21 10000000 NEW CONSTRUCTION 0 0 0 A 3499000 38981000 331211 38649789 2019 1 0 1 1 B 540000 10000000 10000000 2020 1 0 1 1 A 0 1 1 1 0 0.00000 0.00000 0.00000 1 0 1 B 0 1 1 1 0 0.00000 0.00000 0.00000 1 0 1 A 0 1 0 0 1 0 0 0 1 B 0 1 0 0 1 0 0 0 1 A 1 B 1 SCHEDULE K, PART II, LINE 14: THE 8/21/2018 TAX-EXEMPT BOND WAS ISSUED IN PART TO REFUND THE 9/17/2014 BOND. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE CONSISTS OF THE ELECTED OFFICERS OF THE BOARD OF DIRECTORS PLUS THE CHAIRPERSONS OF THE FINANCE AND AUDIT COMMITTEE, THE COMMITTEE ON GOVERNANCE AND DIRECTORS, AND THE PLANNING OVERSIGHT COMMITTEE. THE EXECUTIVE COMMITTEE IS AUTHORIZED TO CARRY OUT ALL OF THE POWERS OF THE BOARD OF DIRECTORS BETWEEN MEETINGS OF THE BOARD, PROVIDED THEIR ACTIONS AND DECISIONS COULD NOT REASONABLY HAVE BEEN DEFERRED UNTIL THE NEXT MEETING OF THE BOARD. ACTIONS OF THE EXECUTIVE COMMITTEE SHALL BE REPORTED TO THE NEXT REGULAR OR SPECIAL MEETING OF THE BOARD OF DIRECTORS. ACTIONS OF THE EXECUTIVE COMMITTEE WHICH ARE WITHIN THE AUTHORITY OF THE EXECUTIVE COMMITTEE SHALL NOT REQUIRE RATIFICATION BY THE BOARD OF DIRECTORS, BUT ANY ACTIONS OF THE EXECUTIVE COMMITTEE MAY BE MODIFIED AT A MEETING OF THE BOARD OF DIRECTORS BY VOTE OF A MAJORITY OF THE MEMBERS OF THE BOARD OF DIRECTORS PRESENT AND CONSTITUTING AT LEAST A QUORUM. HOWEVER, ANY SUCH MODIFICATIONS SHALL NOT AFFECT THE RIGHTS OF ANY THIRD PERSONS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM WITH INFORMATION PROVIDED BY MANAGEMENT. THE CEO AND CFO PERFORM AN INITIAL REVIEW. THE FORM 990 IS THEN DISTRIBUTED TO ALL BOARD MEMBERS PRIOR TO SUBMISSION TO THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C ANNAPOLIS LIFE CARE INC. HAS A CONFLICT OF INTEREST POLICY FOR ALL BOARD MEMBERS AND ADVISORY MEMBERS OF BOARD COMMITTEES. A CONFLICT OF INTEREST STATEMENT MUST BE UPDATED ANNUALLY. ANY ACTUAL OR POTENTIAL CONFLICTS ARE EXPECTED TO BE DISCLOSED. THE PRESIDENT AND SECRETARY OF THE BOARD AND ALL CHAIRMEN OF STANDING BOARD COMMITTEES WILL RECEIVE ALL ANNUAL CONFLICT OF INTEREST STATEMENTS. IF AN ACTUAL OR POTENTIAL CONFLICT WERE TO EXIST, THE INTERESTED PARTY WOULD ABSTAIN FROM ALL DISCUSSIONS AND DECISIONS ON THE CONFLICT. ANY TRANSACTIONS OR EVENTS THAT VIOLATE THE CONFLICT OF INTEREST POLICY MAY ALSO BE REVIEWED BY LEGAL COUNSEL. FAMILY AND BUSINESS RELATIONSHIPS WHICH MAY POSE A CONFLICT ARE EXPRESSLY CONSIDERED IN THE POLICY AND THE ANNUAL STATEMENT. FORM 990, PART VI, SECTION B, LINE 15A FOR THE CEO, THE ANNAPOLIS LIFE CARE INC BOARD PRESIDENT AND A THREE-MEMBER COMPENSATION COMMITTEE FROM THE BOARD OF DIRECTORS COMPILES RESULTS OF PERFORMANCE EVALUATIONS COMPLETED BY EACH ALC BOARD MEMBER, REVIEWS THE CURRENT COMPENSATION STRUCTURE, REVIEWS INDUSTRY SALARY SURVEY DATA FOR THE REGION AND NATIONALLY FROM GALLAGHER BENEFIT SERVICES, AND HOSPITAL & HEALTHCARE COMPENSATION SERVICES, AND MAKES RECOMMENDATIONS TO THE ALC BOARD EXECUTIVE COMMITTEE. THIS PROCESS IS DOCUMENTED IN THE MINUTES AND WAS LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE LOCATED IN THE GINGER COVE LIBRARY FOR PUBLIC REVIEW AND THE CONFLICT OF INTEREST POLICY IS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN INTEREST OF SUBSIDIARY 281,194. UNREALIZED GAIN ON INTEREST RATE SWAP 2,543,071. CHANGE IN FUTURE SERVICE OBLIGATION 6,350,000. GINGER COVE HOME HEALTH CARE LLC 4000 RIVER CRESCENT DRIVE ANNAPOLIS MD 21401 521381348 INACTIVE MD 0 0 ANNAPOLIS LIFE CARE INC GINGER COVE FOUNDATION INC 4000 RIVER CRESCENT DRIVE ANNAPOLIS MD 21401 113656031 TO SUPPORT AFFILIATED ORGANIZATIONS MD 501(C)(3) LINE 12C, III-FI ANNAPOLIS LIFE CARE INC 1 0 0 1 0 0 0 0 0 0 0 0 1 1 1 1 1 1 0 0 GINGER COVE FOUNDATION INC C 59448 CASH VALUE OF GIFT