2023-02-15T19:48:37-06:00 2021-12-31 410746749 CLIFTONLARSONALLEN LLP 227 WEST TRADE STREET SUITE 800 CHARLOTTE NC 28202 990 2021-01-01 560547462 ALDERSGATE UNITED METHODIST RETIREMENT COMMUNITY INC ALDE 7045327000 3800 SHAMROCK DRIVE CHARLOTTE NC 28215 SUZANNE H PUGH PRESIDENT AND CEO 7045327000 2023-02-15 1 SUZANNE PUGH 999009999 JOHN NORMAN P01506766 7049985200 2023-02-15 3 AAL1 IAL1 2021 2023-03-07 01:45:13Z SUZANNE H PUGH 3800 SHAMROCK DRIVE CHARLOTTE NC 28215 44725662 0 X WWW.ALDERSGATECCRC.COM X 1945 NC PROVISION OF EXCELLENT CONTINUING CARE SERVICES FOR OLDER ADULTS. 15 15 675 15 0 0 1308014 3720746 39039933 40696925 598727 307991 0 0 40946674 44725662 0 0 0 0 17111322 19837385 0 0 280072 29301780 28381950 46413102 48219335 -5466428 -3493673 176151772 165248151 196333323 190102357 -20181551 -24854206 WE HONOR ELDERS, ALL ELDERS, AND ARE COMMITTED TO CREATING AND FOSTERING DIVERSE, CARING COMMUNITIES WHERE EVERYONE HAS A VOICE AND VALUE. 0 0 41115703 0 40696925 ALDERSGATE PROVIDES HOUSING, MEALS, SECURITY, ASSISTANCE WITH ESSENTIAL ACTIVITIES OF DAILY LIVING, SKILLED NURSING CARE, AND RELATED SERVICES DESIGNED SPECIFICALLY FOR SENIOR ADULTS WHILE OFFERING RELIGIOUS, CULTURAL, RECREATIONAL AND OTHER ACTIVITIES INCLUDING OPPORTUNITIES FOR COMMUNITY VOLUNTEERING AND TRANSPORTATION TO EVENTS AND APPOINTMENTS. SERVICES ARE PROVIDED 24 HOURS PER DAY. ALDERSGATE MAKES EVERY EFFORT TO CONTINUE PROVIDING SERVICES TO RESIDENTS WHO NEED SUPPLEMENTAL FINANCIAL ASSISTANCE. 41115703 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 0 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 1 1 0 0 0 1 292 0 675 0 0 0 0 0 0 0 0 0 0 0 0 0 X 15 15 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X THOMAS RILEY CHIEF FINANCIAL OFFICER 7045327000 3800 SHAMROCK DRIVE CHARLOTTE NC 28215 PATRICIA PAT G GARRETT CHAIR 1.00 2.00 X X 0 0 0 BRAD CROSSLEY FINANCE COMM. CHAIR 1.00 2.00 X X 0 0 0 CHRISTOPHER CHRIS W DAVIS BOARD DIRECTOR 1.00 2.00 X 0 0 0 OTTO HARRIS BOARD DIRECTOR 1.00 2.00 X 0 0 0 BILL JONES III BOARD DIRECTOR 1.00 2.00 X 0 0 0 THOMAS R LAWING JR BOARD DIRECTOR 1.00 2.00 X 0 0 0 FRED LONGIETTI BOARD DIRECTOR 1.00 2.00 X 0 0 0 BILLY DAL MADDALON BOARD DIRECTOR 1.00 2.00 X 0 0 0 KEVIN MCKANE BOARD DIRECTOR 1.00 2.00 X 0 0 0 GEORGE MOFFAT BOARD DIRECTOR 1.00 2.00 X 0 0 0 EUGENE GENE ROBBINS BOARD DIRECTOR 1.00 2.00 X 0 0 0 WILLIAM K SPRINGS BOARD DIRECTOR 1.00 22.00 X 0 0 0 ROBERT BOB DEE VAUGHN JR BOARD DIRECTOR 1.00 1.00 X 0 0 0 IRENE VOGELSONG BOARD DIRECTOR 1.00 2.00 X 0 0 0 STANLEY WATKINS BOARD DIRECTOR 1.00 2.00 X 0 0 0 MARY WILSON PAST CHAIR 1.00 2.00 X 0 0 0 SUZANNE PUGH CEO 2.00 38.00 X 0 332221 5149 JEFFREY WEATHERHEAD CHIEF OPERATING OFFICER 2.00 38.00 X 0 200156 5864 MICHAEL JAMES HILL CHIEF FINANCIAL OFFICER 2.00 38.00 X 0 171874 2658 JOHN REDMOND LIFE PLAN COUNSELOR 40.00 0.00 X 0 109910 9739 WALTER BROOKS SHELLEY CMBSO 2.00 38.00 X 0 113423 12591 BORIS HENDERSON CHIEF STRATEGIC OFFICER 2.00 38.00 X 0 128229 0 MARILYN K HENDRICK CHIEF HR OFFICER 2.00 38.00 X 0 164675 3073 TOM RILEY SENIOR DIRECTOR OF FINANCE 2.00 38.00 X 0 141696 11499 0 1362184 50573 8 0 1 0 SELECT REHABILITATION PO BOX 71985 CHICAGO IL 60694 REHABILITATION SERVICES 1879148 US FOODS PO BOX 602286 CHARLOTTE NC 28260 FOOD SERVICE 1207539 RELIABLE RESTORATIONS 12259 NATIONS FORD RD PINEVILLE NC 28134 CONSTRUCTION 801210 THE MACK-MARTIN CO LLC PO BOX 251 LOCUST NC 28097 CONSTRUCTION 715007 LABCORP PO BOX 12140 BURLINGTON NC 27216 COVID TESTING 500000 8 3578383 142363 3720746 RESIDENT REVENUE 623000 34339671 34339671 ENTRANCE FEES EARNED 623000 5371482 5371482 NET ASSETS RELEASE USE 623000 43788 43788 941984 941984 40696925 307991 307991 44725662 40696925 0 307991 15600176 15030724 461360 108092 238685 160645 78040 2351040 1582360 768680 1647484 1468721 166267 12496 956932 371747 585185 27810 27810 74689 74689 2502161 1676448 825713 287616 262815 24801 1574903 173249 1275819 125835 58164 10854 43243 4067 21889 2814 17863 1212 5605878 5583824 22054 6718654 6315535 403119 509716 203211 306505 GENERAL AND ADMINISTRAT 5331477 4562381 769096 SUPPLIES 2751262 2751262 EQUIPMENT EXPENSES 1027536 513768 513768 ALL OTHER 720821 601989 115263 3569 212442 106171 106271 48219335 41115703 6823560 280072 1400 1400 4797903 811854 15215832 13098605 56282 16048 101382 600307 204327871 86001939 122479517 118325932 32932490 31627817 566966 766188 176151772 165248151 8819689 4606280 26160519 26166870 114005221 77831602 28685000 46563 47347894 52766042 196333323 190102357 X -20911828 -25583281 730277 729075 -20181551 -24854206 176151772 165248151 X -3493673 -1682076 503094 X X 0 0 0 X 127440 698467 786376 1308014 3720746 6641043 30805079 35736988 38141807 39039933 40696925 184420732 30932519 36435455 38928183 40347947 44417671 191061775 185927 51096 237023 0 185927 51096 237023 190824752 729737 598445 640035 203093 307991 2479301 729737 598445 640035 203093 307991 2479301 31662256 37033900 39568218 40551040 44725662 193541076 0.98600 0.98420 0.01280 0.01450 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1876106 158428 2034534 1756325 119781 1876106 1683034 73291 1756325 1338542 342283 2209 1683034 1333578 68356 2455 65847 1338542 0.68320 0.31680 0 0 3896305 3896305 5076514 66709977 -61633463 8815636 4408474 4407162 184301830 13072284 171229546 2237586 1811204 426382 118325932 DESIGNATED FOR STATUTORY OPERATING RESERVE 8100000 F HELD UNDER BOND AGREEMENT 8238484 F BOARD DESIGNATED 1389918 F INVESTMENTS 8014779 F VALUATION ALLOWANCE 4506240 F DONOR-RESTRICTED INVESTMENTS-TEMP 1114755 F DONOR-RESTRICTED INVESTMENTS-PERM 263641 F 31627817 REFUNDABLE ENTRANCE FEES 49085550 OTHER LIABILITIES 3325000 ENTRANCE FEE DEPOSITS 355492 52766042 X PART V, LINE 4: THE ORGANIZATION USES ENDOWMENT FUNDS TOWARDS VARIOUS DONOR DESIGNATED PURPOSES INCLUDING FINANCIAL ASSISTANCE TO RESIDENTS UNABLE TO PAY AND EMPLOYEE TRAINING. PART X, LINE 2: ALDERSGATE AT SHAMROCK AND HOLDINGS ARE EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) AND 501(C)(2), RESPECTIVELY, OF THE INTERNAL REVENUE CODE (IRC). ACCORDINGLY, ALDERSGATE AT SHAMROCK AND HOLDINGS HAVE MADE NO PROVISION FOR INCOME TAXES IN THE CONSOLIDATED FINANCIAL STATEMENTS. ALDERSGATE AT SHAMROCK AND HOLDINGS ARE NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE THEIR TAX-EXEMPT STATUS. ALDERSGATE AT SHAMROCK AND HOLDINGS FOLLOW ACCOUNTING GUIDANCE REGARDING RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. AS OF DECEMBER 31, 2021 AND 2020, MANAGEMENT IS NOT AWARE OF ANY UNCERTAIN TAX POSITIONS. X X 0 0 0 0 0 0 0 0 0 SUZANNE PUGH CEO 0 291783 0 40438 0 0 0 0 0 5149 0 337370 0 0 JEFFREY WEATHERHEAD CHIEF OPERATING OFFICER 0 199636 0 520 0 0 0 0 0 5864 0 206020 0 0 MICHAEL JAMES HILL CHIEF FINANCIAL OFFICER 0 171874 0 0 0 0 0 0 0 2658 0 174532 0 0 MARILYN K HENDRICK CHIEF HR OFFICER 0 164138 0 537 0 0 0 0 0 3073 0 167748 0 0 TOM RILEY SENIOR DIRECTOR OF FINANCE 0 138616 0 3080 0 0 0 0 0 11499 0 153195 0 0 A NORTH CAROLINA MEDICAL CARE COMMISSION 521309402 65820YLM6 2015-11-18 49240000 FINANCE NEW CONSTRUCTION AND REFINANCE CURRENT PROJECTS. 0 0 0 B NORTH CAROLINA MEDICAL CARE COMMISSION 521309402 65820YNG7 2017-05-31 35094238 REFUND BANK LOAN; FINANCE NEW CONSTRUCTION 0 0 0 C NORTH CAROLINA MEDICAL CARE COMMISSION 521309402 NONEAVAIL 2021-07-29 15340000 REFUND 2017B BONDS, TERMINATE INTEREST RATE SWAP AND PAY ISSUANCE COSTS 0 0 0 A 49125093 2399588 982502 43811540 2112265 1 0 1 1 B 16804238 35094238 1242528 687884 29608184 3555642 2019 0 0 1 0 C 15340000 170191 15169809 1 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0 0 1 A 0 1 0 0 0 0 0 0 1 B 0 0 0 0 1 0 0 0 0 C 0 0 1 0 1 0 0 0 1 A 1 B 1 C 1 FORM 990, PART VI, SECTION A, LINE 2 BROOKS SHELLY AND BILLY MADDALON - FAMILY RELATIONSHIP FORM 990, PART VI, SECTION B, LINE 11B THE 990 WILL INITIALLY BE REVIEWED BY THE CONTROLLER AND CFO, CONFIRMING ALL DATA AND FINANCIAL INFORMATION MATCH OUR RECORDS. UPON APPROVAL FROM THE CFO, THE 990 WILL BE PRESENTED TO THE CEO AND THE FULL BOARD FOR THEIR REVIEW AND COMMENTS. FORM 990, PART VI, SECTION B, LINE 12C ALL MEMBERS OF THE BOARD OF DIRECTORS ARE COVERED AND SIGN THE CONFLICT OF INTEREST POLICY. ITEMS THAT REPRESENT MAJOR EXPENDITURES ARE SUBJECT TO A BID PROCESS WHERE THE LOWEST COST PROVIDER OF THE DESIRED SERVICE IS GENERALLY SELECTED. FORM 990, PART VI, SECTION B, LINE 15 ALL EMPLOYEES (INCLUDING THE TOP MANAGEMENT AND KEY EMPLOYEES) ARE COMPARED PERIODICALLY TO WAGE DATA THAT IS DEVELOPED INDEPENDENTLY THROUGH A LOCAL EMPLOYERS ASSOCIATION. THE WAGES ARE REVIEWED TO CONFIRM THEY ARE COMPETITIVE IN THE LOCAL MARKET. THE COMPENSATION OF THE CEO IS APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 AUDITED FINANCIAL STATEMENTS ARE FILED ANNUALLY WITH THE NORTH CAROLINA DEPARTMENT OF INSURANCE AND PUBLISHED ON ITS WEBSITE. THEY ARE ALSO PRINTED ANNUALLY IN STATUTORILY REQUIRED DISCLOSURE STATEMENTS WHICH ARE AVAILABLE TO THE PUBLIC. ARTICLES OF INCORPORATION ARE AVAILABLE ONLINE AT THE NORTH CAROLINA SECRETARY OF STATE WEBSITE. THE CONFLICTS OF INTEREST POLICY IS AVAILABLE FOR EXAMINATION UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN INTEREST RATE SWAP 154,296. NET ASSETS RELEASED USED FOR SERVICES NET -1,202. ALDERSGATE HOLDINGS 350,000. FORM 990, PART XII, LINE 2C: THE BOARD OF DIRECTORS HAS ESTABLISHED ITS AUDIT COMMITTEE TO ASSUME RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE ORGANIZATION HAS NOT CHANGED ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. ALDERSGATE HOLDINGS INC 3800 SHAMROCK DR CHARLOTTE NC 28215 475163378 LAND INVESTMENT NC 501(C)(2) 1 ALDERSGATE LIFE PLAN SERVICES INC 3400 SHAMROCK DR CHARLOTTE NC 28215 812698156 HOLDING COMPANY NC 501(C)(3) LINE 12B, II 1 ALDERSGATE AT SHARON INC 3800 SHAMROCK DR CHARLOTTE NC 28215 812672298 SENIOR LIVING SERVICES (INACTIVE) NC 501(C)(3) LINE 10 1 ALDERSGATE AT SHALOM PARK INC 3800 SHAMROCK DR CHARLOTTE NC 28215 821000888 SENIOR LIVING SERVICES (INACTIVE) NC 501(C)(3) LINE 10 1 ALDERSGATE AT HOME 312 FOREST KNOLL DR CHARLOTTE NC 28215 812678570 SENIOR LIVING SERVICES NC 501(C)(3) LINE 10 1 ALDERSGATE FOUNDATION INC 3800 SHAMROCK DR CHARLOTTE NC 28215 832495423 FOUNDATION (INACTIVE) NC 501(C)(3) LINE 7 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0