2023-05-12T14:49:17-05:00 2022-06-30 390859910 BAKER TILLY US LLP 101 WASHINGTON STREET EAST CHARLESTON WV 25301 990 2021-07-01 550701159 EDGEWOOD SUMMIT INC EDGE 3043462323 300 BAKER LANE CHARLESTON WV 25302 AMY CONDARAS PRESIDENT 3043462323 2023-05-11 1 AMY CONDARAS 999009999 DOLORES ROSE P01286262 3043460441 2023-05-04 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z AMY CONDARAS 300 BAKER LANE CHARLESTON WV 25302 16951899 0 X WWW.EDGEWOODSUMMIT.COM X 1990 WV THE ORGANIZATION'S PRIMARY EXEMPT FUNCTION IS TO PROVIDE, ON A NON-PROFIT BASIS, LONG-TERM CARE FACILITIES IN THE STATE OF WEST VIRGINIA SPECIFICALLY DESIGNED TO MEET THE PHYSICAL, SOCIAL AND PSYCHOLOGICAL NEEDS OF ELDERLY AND INFIRM PERSONS, INCLUDING BUT NOT LIMITED TO HOUSING, BUILDINGS, STRUCTURES, EQUIPMENT, FURNISHINGS, PROGRAMS AND RELATED HEALTH AND OTHER SERVICES CONTRIBUTING TO THEIR HEALTH, SECURITY, HAPPINESS AND PHYSICAL AND MENTAL WELL-BEING.THE MISSION OF EDGEWOOD SUMMIT IS TO PROVIDE AN ATTRACTIVE, CARING, COMFORTABLE SENIOR LIVING COMMUNITY. A SECURE ENVIRONMENT AND QUALITY SERVICE THAT WILL BE THE HALLMARK OF THIS COMMUNITY. 18 18 232 18 0 0 0 13547 10719916 11454396 3619455 1896202 299325 54640 14638696 13418785 0 0 0 0 5788115 6430301 0 0 0 6641510 7032796 12429625 13463097 2209071 -44312 43260882 39768204 37758405 36679910 5502477 3088294 X THE ORGANIZATION'S PRIMARY EXEMPT FUNCTION IS TO PROVIDE, ON A NON-PROFIT BASIS, LONG-TERM CARE FACILITIES IN THE STATE OF WEST VIRGINIA SPECIFICALLY DESIGNED TO MEET THE PHYSICAL, SOCIAL AND PSYCHOLOGICAL NEEDS OF ELDERLY AND INFIRM PERSONS, INCLUDING BUT NOT LIMITED TO HOUSING, BUILDINGS, STRUCTURES, EQUIPMENT, FURNISHINGS, PROGRAMS AND RELATED HEALTH AND OTHER SERVICES CONTRIBUTING TO THEIR HEALTH, SECURITY, HAPPINESS AND PHYSICAL AND MENTAL WELL-BEING. THE MISSION OF EDGEWOOD SUMMIT IS TO PROVIDE AN ATTRACTIVE, CARING, COMFORTABLE SENIOR LIVING COMMUNITY. A SECURE ENVIRONMENT AND QUALITY SERVICE THAT WILL BE THE HALLMARK OF THIS COMMUNITY. 0 0 10194405 11509036 THE ORGANIZATION PROVIDED, ON A NON-PROFIT BASIS, HOUSING, DINING, HOUSEKEEPING, LAUNDRY, TRANSPORTATION, ACTIVITIES, NURSING AND ASSISTED LIVING CARE, MEMORY SUPPORT CARE, AND SKILLED NURSING CARE THROUGH THE OPERATION OF A CCRC - CONTINUUM CARE RETIREMENT COMMUNITY - THAT SERVED 241 RESIDENTS IN 127 INDEPENDENT AND 40 ASSISTED LIVING, 18 MEMORY SUPPORT AND 20 SKILLED NURSING UNITS. 338893 1. EDGEWOOD SUMMIT, INC. HAS BEEN OPEN FOR 27 YEARS. APARTMENTS ARE UPGRADED WHEN TURNOVER OCCURS; THIS INCLUDES FRESH PAID, NEW CARPET. AN ENHANCED UPGRADE TO EACH UNIT INCLUDES - NEW KITCHEN AND BATH CABINET WITH SOLID SURFACE COUNTERTOPS, NEW LIGHTING, NEW KITCHEN APPLIANCES INCLUDING WASHER AND DRYER. ALL ITEMS WITH A USEFUL LIFE REMAINING ARE DONATED TO HABITAT FOR HUMANITY RESTORE. THESE ITEMS INCLUDE: RANGES, REFRIGERATORS, DISHWASHERS, WASHER/DRYER COMBOS, KITCHEN AND BATH CABINETS AND LIGHT FIXTURES. EDGEWOOD SUMMIT TURNED OVER APPROXIMATELY 31 UNITS AND 17 UNITS WERE TOUCHED UP.TOTAL EXPENSES INCURRED: $25,110.002. ANNUALLY EDGEWOOD SUMMIT, INC. PARTICIPATED IN THE FOLLOWING CHARITABLE ACTIVITIES:HABITAT FOR HUMANITY RESTORE PUZZLESHABITAT FOR HUMANITY RESTORE BOOKS & RECORDSGOODWILL CLOTHING DRIVEFOOD DRIVE FOR UNION MISSIONALZHEIMERS ASSOCIATION POLAR PLUNGE FUNDRAISERBETTY WHITE CHALLENGECEREAL DRIVE FOR MANNA MEALREAD ALOUD LABELINGEASTER EGG STUFFING FOR CITY OF SOUTH CHARLESTONEASTER EGG STUFFING FOR CITY OF CHARLESTONEASTER EGG STUFFING FOR THE BIBLE CENTER CHURCHCLOTHING DRIVE FOR GOODWILL3. THROUGHOUT THE FISCAL YEAR EDGEWOOD SUMMIT, INC. MADE MEMORIAL CONTRIBUTIONS TO CHARITABLE ORGANIZATIONS IN MEMORY OF FORMER RESIDENTS, RESIDENT'S FAMILY MEMBERS AND EMPLOYEE FAMILY MEMBERS.TOTAL EXPENSES INCURRED: $110.004. IN THE FALL OF 2013 EDGEWOOD SUMMIT, INC. OPENED THE ARTHUR B. HODGES CENTER WITH 20 SKILLED NURSING AND 18 MEMORY SUPPORT UNITS TO COMPLETE THE FULL CONTINUUM OF CARE ON OUR CAMPUS. ALONG WITH THIS ADDITION ALL NEW RESIDENTS MOVING INTO INDEPENDENT LIVING WILL GET A 20% DISCOUNT FROM FULL CONTRACTUAL RATES AS THEY MOVE THROUGH THE CONTINUUM. DURING THE FISCAL YEAR ENDING JUNE 30, 2022 EDGEWOOD SUMMIT HAD 37 RESIDENTS WITH A HEALTH CARE BENEFIT DISCOUNT IN HIGHER LEVELS OF CARE THAT UTILIZED THE 20% DISCOUNT - AL 16, MS 3 AND SN 18.TOTAL EXPENSES INCURRED: $309,798.00ANNUAL TOTAL EXPENSE FOR COMMUNITY SERVICES $338,893.00 10533298 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 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 44 0 232 1 0 0 0 0 0 0 0 0 0 0 0 0 X 18 18 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X DIANE GOUHIN EXECUTIVE DIRECTOR 3043462323 300 BAKER LANE CHARLESTON WV 25302 AMY CONDARAS PRESIDENT 2.00 X X 0 0 0 REED SPANGLER VICE PRESIDENT 2.00 X X 0 0 0 DREMA PIERSON SECRETARY 2.00 X X 0 0 0 JOHN DERITO TREASURER 2.00 X X 0 0 0 CAM SIEGRIST DIRECTOR 2.00 X 0 0 0 MARK GRIGSBY DIRECTOR 2.00 X 0 0 0 CYNTHIA BARNETTE DIRECTOR 2.00 X 0 0 0 JANE CLINE DIRECTOR 2.00 X 0 0 0 MARY BOND DIRECTOR 2.00 X 0 0 0 DAVID ELLIOTT DIRECTOR 2.00 X 0 0 0 KIM BURTON DIRECTOR 2.00 X 0 0 0 GEORGETTE GEORGE DIRECTOR 2.00 X 0 0 0 BETTY IRELAND DIRECTOR 2.00 X 0 0 0 ELIZABETH KEIGHTLY DIRECTOR 2.00 X 0 0 0 SALLIE MCCLAUGHERTY DIRECTOR 2.00 X 0 0 0 KATHLEEN MERRILL DIRECTOR 2.00 X 0 0 0 BILL MULLET DIRECTOR 2.00 X 0 0 0 CYNDI PERSILY DIRECTOR 2.00 X 0 0 0 DIANE GOUHIN EXECUTIVE DIRECTOR 40.00 X 0 0 0 GEORGE BARKER ADMINISTRATOR 40.00 X 139828 0 19279 CHERIE LITTON DIRECTOR OF MARKETING 40.00 X 117752 0 6140 257580 0 25419 2 0 1 0 AGSTEN CONSTRUCTION CO PO BOX 3108 3601 SEVENTH AVE CHARLESTON WV 25312 CONSTRUCTION 963590 GMSC WEST VIRGINIA LLC 225 E JOHN CARPENTER FREEWAY SUIT IRVING TX 75062 MANAGEMENT SERVICES 476071 WISE MEDICAL STAFFING 6 HEALTH DRIVE CHILLICOTHE OH 45601 STAFFING AGENCY 290144 ATTANE PO BOX 95649 CHICAGO IL 606945649 MARKETING AGENCY 249395 MAIM HEALTH SERVICES INC 12558 COLLECTIONS CENTER DR CHICAGO IL 60693 STAFFING AGENCY 199991 10 1795 11752 13547 RESIDENT SERVICES 623990 11454396 11454396 11454396 337762 337762 15850 0 15850 15850 15850 5091554 3506788 26326 1584766 -26326 1558440 1558440 FFCRA PAYROLL CREDITS 900099 36263 36263 MISCELLANEOUS INCOME 900099 2527 2527 38790 13418785 11509036 0 1896202 X 4989153 4108567 880586 63437 52240 11197 980963 807823 173140 396748 326722 70026 502922 502922 22543 22543 43876 43876 100246 100246 834331 687072 147259 247529 203840 43689 1511340 1244588 266752 251577 207174 44403 1351105 1112635 238470 39445 32483 6962 8407 6923 1484 1442472 1187876 254596 361932 298051 63881 TAXES 121666 100192 21474 LICENSES, PERMITS & FEE 49529 40787 8742 DUES & SUBSCRIPTIONS 28407 23393 5014 SPECIAL EVENTS 19993 16464 3529 95476 76468 19008 13463097 10533298 2929799 0 18078 11898 340307 299631 380287 417708 30124 33744 193375 476023 45536655 21585726 22178023 23950929 20120688 14361775 0 216496 43260882 39768204 858260 1182643 21563178 22075565 5037019 4784309 10299948 8637393 37758405 36679910 X 5502477 3088294 5502477 3088294 43260882 39768204 X -44312 -3489281 1119410 X 0 1 X 1 0 X 13547 13547 11449698 11750358 11305186 10719916 11454396 56679554 11449698 11750358 11305186 10719916 11467943 56693101 0 0 0 56693101 316857 481919 423977 270894 353612 1847259 316857 481919 423977 270894 353612 1847259 108010 3323 102031 296025 38790 548179 11874565 12235600 11831194 11286835 11860345 59088539 0.95950 0.96070 0.03130 0.03050 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: PROPERTY TAX REFUND - 2017 AMOUNT: $ 107,578. MISC - 2017 AMOUNT: $ 432. 2018 AMOUNT: $ 3,323. 2021 AMOUNT: $ 38,790. CARES ACT STIMULUS RELIEF INCOME - 2019 AMOUNT: $ 102,031. 2020 AMOUNT: $ 296,025. 1892394 -163081 1729313 1557995 334399 1892394 1565144 -7149 1557995 1507769 57375 1565144 1433087 74682 1507769 1.00000 1 0 856564 856564 28951641 12723102 16228539 9350336 6227845 3122491 6378114 2634779 3743335 23950929 PHASE III EXPANSION LOAN 6752688 SERIES 2014 BOND 1884705 8637393 X 13423263 0 13423263 -4478 -4478 13418785 13443044 0 13443044 20053 20053 13463097 PART V, LINE 4: FUNDS DESIGNATED BY THE BOARD TO PROVIDE HOUSING ASSISTANCE/CHARITY CARE FOR RESIDENTS THAT HAVE EXHAUSTED ALL OTHER MEANS OF ASSETS OR INCOME FOR HOUSING: $ 1,430,552; FUNDS RESERVED FOR BOND INDENTURE AGREEMENT-ADMINISTERED BY A THIRD PARTY: $298,761 PART X, LINE 2: THE COMPANY IS A NOT-FOR-PROFIT CORPORATION AND IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN PROVIDED. THE COMPANY FOLLOWS THE GUIDANCE FOR ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ORGANIZATION'S CONSOLIDATED FINANCIAL STATEMENTS THAT 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 GUIDANCE ALSO ADDRESSES DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, AND DISCLOSURE. MANAGEMENT HAS DETERMINED THAT THIS GUIDANCE HAD NO MATERIAL EFFECT ON THE CONSOLIDATED FINANCIAL STATEMENTS. THE COMPANY'S POLICY IS TO RECOGNIZE INTEREST RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSE AND PENALTIES IN GENERAL AND ADMINISTRATIVE EXPENSES. THERE WERE NO INTEREST OR PENALTIES RECOGNIZED ON THE CONSOLIDATED STATEMENT OF OPERATIONS AND CHANGES IN NET ASSETS AS A RESULT OF THIS GUIDANCE. GENERALLY, TAX RETURNS FOR YEARS ENDED JUNE 30, 2019, AND THEREAFTER REMAIN SUBJECT TO EXAMINATION BY FEDERAL AND STATE TAX AUTHORITIES. PART XI, LINE 4B - OTHER ADJUSTMENTS: BAD DEBT 20,053. FEDERAL AID-PROVIDER RELIEF FUNDS 1,795. LOSS ON DISPOSAL OF ASSETS -26,326. PART XII, LINE 4B - OTHER ADJUSTMENTS: BAD DEBT 20,053. X 0 0 0 0 0 0 0 0 0 GEORGE BARKER ADMINISTRATOR 139828 0 0 0 0 0 5092 0 14187 0 159107 0 0 0 FORM 990, PART VII, SECTION A, LINE 5 UNRELATED ORGANIZATION OFFICER COMPENSATION: FOR THE CALENDAR YEAR ENDED 12/31/2021, THE EXECUTIVE DIRECTOR RECEIVED COMPENSATION FROM THE ORGANIZATION'S MANAGEMENT COMPANY, GMSC WEST VIRGINIA LLC, AS FOLLOWS: SALARY $232,647, DEFERRED COMPENSATION $6,626, AND NONTAXABLE BENEFITS OF $5,468 FOR A TOTAL OF $244,741. A WEST VIRGINIA ECONOMIC DEVELOPMENT AUTHORITY 550460512 956486BL7 2004-02-25 11231025 REFUND SERIES 1993 BONDS 0 0 0 B WEST VIRGINIA ECONOMIC DEVELOPMENT AUTHORITY 550460512 956486CA0 2017-01-24 3587673 REFUND SERIES 2006 BONDS (REFUNDED 1999 BONDS) 0 0 0 A 8556025 11231025 285129 224845 10721180 1 0 1 1 B 1353039 3587673 71753 3515920 1 0 1 1 A 0 0 0 1 1 0 0 0 1 B 0 0 0 1 1 1 BB&TTRUIST 12.700000000000 0 0 0 0 1 A 1 B 1 SCHEDULE K, PART IV, ARBITRAGE, LINE 2C: (A) ISSUER NAME: WEST VIRGINIA ECONOMIC DEVELOPMENT AUTHORITY REFUND SERIES 2004 BONDS (REFUNDED 1993 BONDS) DATE THE REBATE COMPUTATION WAS PERFORMED: 07/06/2022 SCHEDULE K, PART IV, ARBITRAGE, LINE 2C: (A) ISSUER NAME: WEST VIRGINIA ECONOMIC DEVELOPMENT AUTHORITY REFUND SERIES 2006 BONDS (REFUNDED 1999 BONDS) DATE THE REBATE COMPUTATION WAS PERFORMED: 07/06/2022 FORM 990, PART VI, SECTION A, LINE 3 EDGEWOOD SUMMIT, INC. (THE COMMUNITY) HAS DELEGATED MANAGEMENT DUTIES TO A MANAGEMENT COMPANY EXPERIENCED IN SENIOR LIVING. THE EXECUTIVE DIRECTOR IS AN EMPLOYEE OF THE MANAGEMENT COMPANY CONTRACTED TO PROVIDE MANAGEMENT OVERSIGHT AT THE COMMUNITY. IN ADDITION, THE EXECUTIVE DIRECTOR AND COMMUNITY STAFF ARE SUPPORTED BY VARIOUS TEAM MEMBERS OF THE MANAGEMENT COMPANY THAT PROVIDE OPERATIONS, MARKETING AND FINANCIAL SUPPORT SERVICES. FORM 990, PART VI, SECTION B, LINE 11B THE EXECUTIVE DIRECTOR AND A REPRESENTATIVE OF THE ORGANIZATION'S MANAGEMENT COMPANY REVIEW THE 990. A COPY OF THE 990 IS EMAILED TO THE BOARD OF DIRECTORS BEFORE IT IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION CONSTANTLY MONITORS THE CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE DIRECTOR IS AN EMPLOYEE OF THE MANAGEMENT COMPANY, CONTRACTED TO PROVIDE MANAGEMENT OVERSIGHT AT THE COMMUNITY. THE EXECUTIVE DIRECTOR'S INITIAL COMPENSATION WAS BASED ON INDUSTRY MARKET SURVEY COMPARISONS AND INITIAL COMPENSATION AND ANNUAL WAGE ADJUSTMENTS ARE APPROVED BY THE BOARD OF DIRECTORS DURING REVIEW AND APPROVAL OF THE ANNUAL OPERATING BUDGET. KEY EMPLOYEES ARE REVIEWED ANNUALLY WITH A UNIFORM PERFORMANCE REVIEW PROCESS AND DOCUMENT WHICH RATES PERFORMANCE ON STANDARDS, GUIDELINES, FINANCIAL PERFORMANCE, QUALITY, RESIDENT SATISFACTION, EMPLOYEE RELATIONS, REGULATORY COMPLIANCE AND CUSTOMER SERVICE, AS WELL AS OTHER VARIABLES IMPORTANT TO THE ORGANIZATION. THE MERIT INCREASE, IF APPROPRIATE, IS BASED UPON THE PERFORMANCE REVIEW OF THE EMPLOYEE AND THE APPROVED BUDGET SCALE FOR EACH FISCAL YEAR. SALARIES ARE REVIEWED AT LEAST ANNUALLY FOR COMPARISON TO NATIONAL SALARY INFORMATION FROM LEADING AGE (A NATIONAL ORGANIZATION FOR CCRC'S) AND REGIONAL SALARY INFORMATION IS USED FOR COMPARISON PURPOSES AS STATE DATA IS NOT AVAILABLE. SHOULD ADJUSTMENTS BE REQUIRED IN THE SALARY SCALE BASED UPON COMPETITIVE WAGE FACTORS, THE CHANGES ARE APPROVED BY THE BOARD OF DIRECTORS AS WELL AS THE MANAGEMENT COMPANY, GREYSTONE COMMUNITIES, AND INCORPORATED INTO THE OPERATING BUDGET. FORM 990, PART VI, SECTION C, LINE 19 EDGEWOOD SUMMIT, INC. MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC THROUGH THE WEST VIRGINIA SECRETARY OF STATE'S OFFICE AND THE WEST VIRGINIA ECONOMIC DEVELOPMENT AUTHORITY. FORM 990 PART IX, LINE 11A THE TOTAL FOR MANAGEMENT SERVICES EXPENSE OF $502,922 INCLUDES THE COMPENSATION OF THE EXECUTIVE DIRECTOR AS FOLLOWS: EXECUTIVE DIRECTOR SALARY AND BENEFITS: $214,777 MANAGEMENT COMPANY GENERAL SERVICES: $288,145 FORM 990, PART XI, LINE 9: CHANGE IN FAIR VALUE OF DERIVATIVE OBLIGATION 1,119,410.