2023-11-14T17:02:39-05:00 2022-12-31 520783935 SMITH ELLIOTT KEARNS & COMPANY LLC 19405 EMERALD SQUARE STE 1400 HAGERSTOWN MD 21742 990 2022-01-01 520610464 FAHRNEY-KEEDY MEMORIAL HOME INC AKA FAHRNEY-KEEDY HOME AND VILLAGE FAHR 3017336284 8507 MAPLEVILLE ROAD BOONSBORO MD 21713 STEPHEN COETZEE PRESIDENT/CEO 3017336284 2023-11-14 true STEPHEN COETZEE 999009999 true ERIN CLARK CPA P01388029 3017335020 2023-11-14 2022 2023-04-26 12:10:37Z STEPHEN COETZEE 8507 MAPLEVILLE ROAD BOONSBORO MD 21713 21970814 false X WWW.FKHV.ORG X 1905 MD WE ARE COMMITTED TO ENHANCING THE LIVES OF SENIORS THROUGH CARING QUALITY SERVICES. WE ARE A CONTINUING CARE RETIREMENT COMMUNITY (CCRC) WITH INDEPENDENT LIVING SERVICES, ASSISTED LIVING SERVICES, AND NURSING SERVICES. THE ORGANIZATION HAS 36 INDEPENDENT LIVING COTTAGES, 26 INDEPENDENT LIVING APARTMENTS, 32 ASSISTED LIVING BEDS, AND A 101 BED SKILLED NURSING FACILITY LOCATED IN BOONSBORO, MARYLAND. IN OCTOBER 2022, THE ORGANIZATION ACQUIRED COFFMAN NURSING HOME, INC. LOCATED IN HAGERSTOWN MARYLAND. COFFMAN IS A 59 BED FACILITY AND PROVIDES SKILLED NURSING CARE AND REHABILITATION SERVICES FOR RESIDENTS. 20 20 356 22 0 5243512 4549975 16853121 17398554 -5117 -8160 19420 12061 22110936 21952430 2350 6550 0 14184934 14605546 0 125996 6601889 6616498 20789173 21228594 1321763 723836 38902151 41276541 22387613 25953786 16514538 15322755 X WE ARE COMMITTED TO ENHANCING THE LIVES OF SENIORS THROUGH CARING QUALITY SERVICES. WE ARE A CONTINUING CARE RETIREMENT COMMUNITY (CCRC) WITH INDEPENDENT LIVING SERVICES, ASSISTED LIVING SERVICES, AND NURSING SERVICES. THE ORGANIZATION HAS 36 INDEPENDENT LIVING COTTAGES, 26 INDEPENDENT LIVING APARTMENTS, 32 ASSISTED LIVING BEDS, AND A 101 BED SKILLED NURSING FACILITY LOCATED IN BOONSBORO, MARYLAND. IN OCTOBER 2022, THE ORGANIZATION ACQUIRED COFFMAN NURSING HOME, INC. LOCATED IN HAGERSTOWN MARYLAND. COFFMAN IS A 59 BED FACILITY AND PROVIDES SKILLED NURSING CARE AND REHABILITATION SERVICES FOR RESIDENTS. false false 8676035 11027943 NURSING SERVICES TO PRIVATE PAY, MEDICARE, AND MEDICAID RESIDENTS. 2652580 4786514 ASSISTED LIVING SERVICES. 911005 1152789 INDEPENDENT LIVING SERVICES. 6158649 6550 431308 ALL OTHER SERVICES INCLUDE EXECUTIVE MANAGEMENT SERVICES, BUSINESS SUPPORT SERVICES, OTHER PATIENT CARE EXPENSES, DIETARY SERVICES, ADULT DAY CARE, AND PROPERTY SERVICES. EXPENSES BY PROGRAM ARE AS FOLLOWS: ROUTINE SERVICES - 3,653,166 CAPITAL AND PROPERTY SERVICES - 1,288,766 OTHER PATIENT CARE - 700,463 (INCLUDES GRANTS) ADULT DAY CARE - 387,658 STAFF DEVELOPMENT - 128,596 GRANTS TO ORGANIZATIONS - 6,550 6158649 6550 431308 18398269 true true false false false false false false false true true false false true true true true false false false false false false false true false false false false true false false false false false false false false true false false false false false false false false true 36 0 true 356 true false false false false false false false false false false false false X 20 20 false false false false false false false true true false false true true true true true true true false false MD X STEPHEN COETZEE 3017336284 8507 MAPLEVILLE ROAD BOONSBORO MD 21713 STEPHEN COETZEE PRESIDENT/CE 40.00 X 197055 0 14664 JULIA MCGLAUGHLIN EXECUTIVE DI 40.00 X 138128 0 6517 CHRISTOPHER STOCKSLAGER CFO/TREASURE 40.00 X 113312 0 12705 BARBARA A FOSTER DIRECTOR OF 40.00 X 101266 0 6268 KAREN ANTHONY DIRECTOR 2.00 X 0 0 0 MARY BOWMAN DIRECTOR 2.00 X 0 0 0 WAYNE BRILL DIRECTOR 2.00 X 0 0 0 NANCY EICHELBERGER DIRECTOR 2.00 X 0 0 0 LERRY FOGLE DIRECTOR 2.00 X 0 0 0 DR AARON GEORGE DIRECTOR 2.00 X 0 0 0 SUE GRAFF DIRECTOR 2.00 X 0 0 0 KATHY HARPLE DIRECTOR 2.00 X 0 0 0 LESLIE HART VICE CHAIR 2.00 X X 0 0 0 TYLER HORNBECKER DIRECTOR 2.00 X 0 0 0 DAVID LYLES DIRECTOR 2.00 X 0 0 0 WILLIAM MITCHELL CHAIR 2.00 X X 0 0 0 BARBARA MOSSER DIRECTOR 2.00 X 0 0 0 JONATHAN NOYES DIRECTOR 2.00 X 0 0 0 DEB PARK DIRECTOR 2.00 X 0 0 0 ANN PLATOU DIRECTOR 2.00 X 0 0 0 RICHARD RUTHERFORD DIRECTOR 2.00 X 0 0 0 KERRI SEMLER DIRECTOR 2.00 X 0 0 0 DOROTHY STRAWSBURG DIRECTOR 2.00 X 0 0 0 STARLA WARD DIRECTOR 2.00 X 0 0 0 549761 40154 4 false true false S GATES CONSTRUCTION LLC 442 CAMELOT BLVD FALLING WATERS WV 25419 CONSTRUCTION 103331 1 X 22623 426178 4101174 3674196 4549975 PATIENT SERVICE 623000 15814457 15814457 AMORTIZATION OF ENTRANCE FEES 623000 665030 665030 INDEPENDENT LIVING 623000 487759 487759 RESIDENT SERVICES 623000 431308 431308 17398554 615 615 8775 -8775 -8775 -8775 21670 22623 9609 12061 12061 21952430 17398554 3901 6550 6550 338266 6945 314408 16913 11227626 10422258 740135 65233 99670 92218 5173 2279 2077565 1676193 373197 28175 862419 771840 83482 7097 22914 22914 75250 75250 1088282 835966 252316 84227 73 83072 1082 442481 366444 73196 2841 194829 194829 1018425 1018425 23535 22652 883 25839 6941 18898 481121 481121 1463300 1463300 273720 273720 FOOD COSTS 482782 482782 PHARMACY & DRUG COSTS 306209 306209 MEDICAL/PATIENT SUPPLIES 249532 249532 REPAIRS & MAINTENANCE 108899 108663 236 275153 80157 192620 2376 21228594 18398269 2704329 125996 13912 278006 821309 992833 49608 1215956 3537593 2174568 7933 11322 94220 101557 51035117 23321133 24425492 27713984 9952084 8788315 38902151 41276541 1388716 2437169 4405489 4663486 16455835 17702210 137573 1150921 22387613 25953786 X 8714930 9448627 7799608 5874128 16514538 15322755 38902151 41276541 X 723836 -1915619 X false true X true true true X 359895 333788 3386060 5243512 875779 10199034 14086562 14469425 15743018 16853121 17398554 78550680 9198 18826 13991 33346 21670 97031 14455655 14822039 19143069 22129979 18296003 88846745 88846745 19159 32811 16136 1909 615 70630 19159 32811 16136 1909 615 70630 14474814 14854850 19159205 22131888 18296618 88917375 0.99920 0.99900 0.00000 0.00000 X SUPPORTING SCHEDULE TRANSFER OF PP&E & NET ASSETS 3,674,196 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 476899 -61465 415434 419608 57291 476899 376680 49769 6841 419608 346163 12579 79675 61737 376680 366770 30958 -24945 26620 346163 false false 384016 384016 42319231 18765721 23553510 3002681 2591152 411529 5329189 1964260 3364929 27713984 BENEFICIAL INTEREST IN TRUSTS 5712784 OPERATING RESERVE 2493532 BENEVOLENT FUND 581999 8788315 LINE OF CREDIT 1097000 FINANCE LEASE OBLIGATIONS 39214 CHECKS IN EXCESS OF DEPOSITS 14707 1150921 X 20054708 -1915619 8288 -1907331 21962039 -9609 -9609 21952430 21246491 17897 17897 21228594 21228594 SCHEDULE D, PAGE 2, PART V, LINE 4 THE HOME HAS A BOARD DESIGNATED ENDOWMENT FUND. THE INCOME EARNED ON THE ENDOWMENT FUND, INCLUDING APPRECIATION, IS EXPENDABLE, FOR THE MAINTENANCE AND REPAIR OF THE HOME'S FACILITIES. ACCOUNTING STANDARDS CODIFICATION (ASC)958 PROVIDES GUIDANCE ON THE NET ASSET CLASSIFICATION OF ENDOWMENT FUNDS FOR A NOT-FOR-PROFIT ORGANIZATION THAT IS SUBJECT TO AN ENACTED VERSION OF THE UNIFORM PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS ACT OF 2006 (UPMIFA.) ASC 958 ALSO REQUIRES DISCLOSURES ABOUT AN ORGANIZATION'S BOARD DESIGNATED ENDOWMENT FUNDS, AND THAT THE ORGANIZATION IS SUBJECT TO UPMIFA UNDER STATE LAW. ENDOWMENT INVESTMENT AND SPENDING POLICY: THE HOME'S INVESTMENT POLICY IS TO PROVIDE A COMMON INVESTMENT VEHICLE, WHICH WILL GENERATE A STABLE AND CONTINUOUSLY GROWING INCOME STREAM TO SUPPORT OPERATIONS. THE OVERALL INVESTMENT GOAL IS TO PRESERVE THE PURCHASING POWER OF THE FUTURE STREAM OF ENDOWMENT PAYOUT FOR THOSE FUNDS. OTHER GOALS INCLUDE MAXIMIZING RETURN WITHIN REASONABLE AND PRUDENT LEVELS OF RISK AND MAXIMIZING THE VALUE OF THE ENDOWMENT WHILE MAINTAINING LIQUIDITY NEEDED TO SUPPORT SPENDING IN PROLONGED DOWN MARKETS. THE HOME SEEKS A RETURN ON INVESTMENT CONSISTENT WITH LEVELS OF INVESTMENT RISK THAT ARE PRUDENT AND REASONABLE GIVEN MEDIUM-TO-LONG-TERM CAPITAL MARKET CONDITIONS AND THE INVESTMENT OBJECTIVES. THE HOME HAS BEEN ENABLED BY THE BOARD OF DIRECTORS TO SPEND THE INTEREST AND DIVIDENDS DERIVED FROM THE ENDOWMENT FUND ON ITS REPAIRS AND MAINTENANCE COSTS. IN AN EFFORT TO PRESERVE UNRESTRICTED CASH AND CONTINUE TO INCREASE THE HOME'S CCRC RESERVE TO MEET 2023 STATE-MANDATED REQUIREMENTS, THE BOARD DESIGNATED THE LEONARD MATHIAS ENDOWMENT INVESTMENT WITH A BALANCE OF 415,434 AT DECEMBER 31, 2022 TO BE USED TOWARD THE CCRC RESERVE REQUIREMENTS. AS A RESULT, 415,434 OF THE TOTAL INVESTMENT BALANCE WAS RECLASSIFIED TO OPERATING RESERVE ON THE STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED DECEMBER 31, 2022. THIS RECLASSIFICATION IS SHOWN AS "OTHER EXPENDITURES" ON SCHEDULE D PART V TO REFLECT A ZERO BALANCE OF THE ENDOWMENT FUND AT DECEMBER 31, 2022. SCHEDULE D, PAGE 3, PART X THE HOME FOLLOWS THE FASB ACCOUNTING STANDARDS CODIFICATION, WHICH PROVIDES GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTERPRISE'S FINANCIAL STATEMENTS. THE HOME'S POLICY IS TO RECOGNIZE INTEREST AND PENALTIES ON UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IN THE FINANCIAL STATEMENTS. THE HOME'S INCOME TAX RETURNS ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE AND STATE AND LOCAL TAXING AUTHORITIES, GENERALLY FOR A PERIOD OF THREE YEARS AFTER THE RETURNS ARE FILED. SCHEDULE D, PAGE 4, PART XI, LINE 2D PROVISION FOR BAD DEBTS EXPENSE INCLUDED IN REVENUE ON FIN 8,288 SCHEDULE D, PAGE 4, PART XI, LINE 4B DIRECT FUNDRAISING EXPENSES -9,609 SCHEDULE D, PAGE 4, PART XII, LINE 2D DIRECT FUNDRAISING EXPENSES 9,609 PROVISION FOR BAD DEBTS EXPENSE INCLUDED IN REVENUE ON FIN 8,288 GOLF TOURNAMENT 25190 21590 3600 126 3014 560 988 FALL FRENZY 16458 1033 15425 2328 400 898 41648 22623 19025 126 3014 2888 400 1886 8314 10711 X false false false false false false false false false STEPHEN COETZEE PRESIDENT/CEO 197055 5862 8802 211719 X FIXED ASSETS 1 3674196 FMV false false false SCHEDULE M, PAGE 2, PART II PART I COLUMN B INDICATES THE NUMBER OF CONTRIBUTIONS. FORM 990 - ORGANIZATION'S MISSION WE ARE COMMITTED TO ENHANCING THE LIVES OF SENIORS THROUGH CARING QUALITY SERVICES. WE ARE A CONTINUING CARE RETIREMENT COMMUNITY (CCRC) WITH INDEPENDENT LIVING SERVICES, ASSISTED LIVING SERVICES, AND NURSING SERVICES. THE ORGANIZATION HAS 36 INDEPENDENT LIVING COTTAGES, 26 INDEPENDENT LIVING APARTMENTS, 32 ASSISTED LIVING BEDS, AND A 101 BED SKILLED NURSING FACILITY LOCATED IN BOONSBORO, MARYLAND. IN OCTOBER 2022, THE ORGANIZATION ACQUIRED COFFMAN NURSING HOME, INC. LOCATED IN HAGERSTOWN MARYLAND. COFFMAN IS A 59 BED FACILITY AND PROVIDES SKILLED NURSING CARE AND REHABILITATION SERVICES FOR RESIDENTS. FORM 990, PAGE 2, PART III, LINE 4D ALL OTHER SERVICES INCLUDE EXECUTIVE MANAGEMENT SERVICES, BUSINESS SUPPORT SERVICES, OTHER PATIENT CARE EXPENSES, DIETARY SERVICES, ADULT DAY CARE, AND PROPERTY SERVICES. EXPENSES BY PROGRAM ARE AS FOLLOWS: ROUTINE SERVICES - 3,653,166 CAPITAL AND PROPERTY SERVICES - 1,288,766 OTHER PATIENT CARE - 700,463 (INCLUDES GRANTS) ADULT DAY CARE - 387,658 STAFF DEVELOPMENT - 128,596 GRANTS TO ORGANIZATIONS - 6,550 FORM 990, PAGE 6, PART VI, LINE 11B THE BOARD MEETS SEMI-MONTHLY AND THE 990 INFORMATION IS PROVIDED AT THEIR NEXT MEETING AFTER THE 990 IS RECEIVED. FORM 990, PAGE 6, PART VI, LINE 12C ALL ASSOCIATES ARE REQUIRED TO DISCLOSE TO THEIR SUPERVISOR/DEPARTMENT MANAGER/VICE PRESIDENT OF OPERATIONS ANY SITUATION WHICH MIGHT POSSIBLY CONSTITUTE A CONFLICT OF INTEREST. ANY SITUATION WHICH WOULD CREATE AN ACTUAL CONFLICT OF INTEREST OR THE APPEARANCE OF CONFLICT MUST BE AVOIDED. IF ANY SITUATION POSES DOUBT CONSULT WITH SUPERVISOR/DEPARTMENT MANAGER/VICE PRESIDENT OF OPERATIONS. FORM 990, PAGE 6, PART VI, LINE 15A THE COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS AND SUBMITTED IN A LETTER BY THE CHAIRMAN OF THE BOARD OF DIRECTORS TO THE ACCOUNTING DEPARTMENT. FORM 990, PAGE 6, PART VI, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE FOR INSPECTION IN THE ACCOUNTING OFFICE AND THE CEO'S OFFICE. FORM 990, PART VIII LINE 1(G) NON-CASH CONTRIBUTIONS EFFECTIVE NOVEMBER 1, 2022, FAHRNEY-KEEDY RECEIVED A CONTRIBUTION OF ASSETS AND ASSUMED CERTAIN LIABILITIES FROM COFFMAN NURSING HOME, INC. THERE WAS NO MONETARY CONSIDERATION PROVIDED IN THIS TRANSACTION. ASSETS TRANSFERRED TO FAHRNEY-KEEDY INCLUDED CASH AND CASH EQUIVALENTS, INVESTMENTS, ACCOUNTS RECEIVABLE, REAL AND TANGIBLE PERSONAL PROPERTY, INVENTORY, CONTRACTS, LICENSES, AND PREPAID EXPENSES. ASSUMED LIABILITIES INCLUDED TRADE ACCOUNTS PAYABLE, A NOTE PAYABLE, AND CERTAIN EMPLOYEE PAYABLES. THE ORGANIZATION HAS RECORDED A CONTRIBUTION OF 3,674,196 FROM COFFMAN NURSING HOME INC. FOR THE YEAR ENDED DECEMBER 31, 2022. THIS AMOUNT REPRESENTS THE NET ASSETS OF COFFMAN AS OF THE CONTRIBUTION DATE, AND A CONTRIBUTION OF PROPERTY BASED ON THE APPRAISED VALUE OF THE REAL ESTATE AND PERSONAL PROPERTY TRANSFERRED, LESS THE SETTLEMENT VALUE OF LIABILITIES ASSUMED. THIS CONTRIBUTION IS REPORTED ON FORM 990 PART VIII, LINE 1G AS A NON-CASH CONTRIBUTION, AND IS ALSO REPORTED ON SCHEDULE B. DUE TO THE NATURE OF THE CONTRIBUTION, IT IS CONSIDERED AN "UNUSUAL GRANT- AND IS EXCLUDED FROM THE PUBLIC SUPPORT CALCULATION ON SCHEDULE A. FORM 990, PART XI, LINE 9 PROVISION FOR BAD DEBTS EXPENSE INCLUDED IN REVENUE ON FIN 8,288 DIRECT FUNDRAISING EXPENSES 9,609 DIRECT FUNDRAISING EXPENSES -9,609 PROVISION FOR BAD DEBTS EXPENSE INCLUDED IN REVENUE ON FIN -8,288