2023-11-09T12:05:08-06:00 2022-12-31 593070669 MSL PA 255 S ORANGE AVENUE SUITE 600 ORLANDO FL 32801 990 2022-01-01 510553716 UPSTATE SENIOR LIVING INC UPST 8643713100 1500 TRAILHEAD COURT GREENVILLE SC 29617 WILLIAM D FALLS CFO 8643713100 2023-11-09 1 WILLIAM FALLS 999009999 0 HARRY E HARP CPA P00176471 4077405400 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z THE WOODLANDS AT FURMAN WILLIAM D FALLS 1500 TRAILHEAD COURT GREENVILLE SC 29617 22021864 0 X WWW.THEWOODLANDSATFURMAN.ORG X 2003 SC TO BE THE RETIREMENT COMMUNITY OF CHOICE BY NURTURING A DISTINCTIVE CULTURE OF ENRICHMENT. 10 10 294 50 0 0 854885 0 17584469 21082784 108086 281775 788901 527992 19336341 21892551 0 0 0 0 6610232 6942292 0 0 0 15256843 17168185 21867075 24110477 -2530734 -2217926 125915350 126972389 171957244 177583986 -46041894 -50611597 THE MISSION OF UPSTATE SENIOR LIVING, INC. IS TO BE THE RETIREMENT COMMUNITY OF CHOICE BY NUTURING A DISTINCTIVE CULTURE OF ENRICHMENT FOR ITS RESIDENTS. 0 0 22567307 21610776 THE WOODLANDS AT FURMAN HAS A UNIQUE AFFILIATION WITH FURMAN UNIVERSITY WHICH HELPS RESIDENTS STAY HEALTHY, CONNECTED AND INVOLVED. THE ORGANIZATION DOES EVERYTHING POSSIBLE TO MAKE RETIREMENT ONE OF THE MOST REWARDING AND ENRICHING PARTS OF LIFE BY OFFERING A LIFESTYLE THAT ENCOURAGES PHYSICAL, MENTAL AND SOCIAL GROWTH. IN 2021, 44 NEW INDEPENDENT LIVING APARTMENTS WERE BROUGHT ONLINE, BRINGING THE TOTAL NUMBER OF INDEPENDENT LIVING APARTMENTS TO 174, RANGING IN SIZE FROM 700 TO 2,060 SQUARE FEET. THE WOODLANDS' VILLAS CONSIST OF 28 SINGLE FAMILY HOMES. FOR THOSE WHO NEED INCREASED CARE, THE WOODLANDS' SKILLED NURSING UNIT HAS 30 BEDS. THE COMMUNITY ALSO HAS 48 ASSISTED LIVING UNITS. 22567307 1 1 0 0 0 0 0 0 0 0 1 1 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 96 0 1 294 1 0 0 0 0 0 0 0 0 0 0 0 0 X 10 10 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 SC X WILLIAM D FALLS CHIEF FINANCIAL OFFICER 8643713100 1500 TRAILHEAD COURT GREENVILLE SC 29617 WALTER GOLDSMITH CHAIR 1.00 X X 0 0 0 MARY LOU MERKT VICE CHAIR 1.00 X X 0 0 0 DR BRUCE BROWN TREASURER 1.00 X X 0 0 0 TODD MALO SECRETARY 1.00 X X 0 0 0 KATHLEEN MCKINNEY DIRECTOR 1.00 X 0 0 0 SUSAN BICHEL DIRECTOR 1.00 X 0 0 0 DAVID JOHNSON DIRECTOR 1.00 X 0 0 0 DR LANDY MCCARRELL DIRECTOR 1.00 X 0 0 0 FRANCIE HELLER DIRECTOR 1.00 X 0 0 0 BEN DEIBLER DIRECTOR 1.00 X 0 0 0 JAMES RICK BRACKETT CEO 40.00 X 216164 0 35205 STEPHANIE ESTRADA CFO (ENDING 7/15) 40.00 X 79124 0 19528 BILL JOHNSON INTERIM CFO (7/1 - 11/4) 40.00 X 52250 0 0 BILL FALLS CFO (BEGINNING 11/1) 40.00 X 29204 0 3128 DONALD LILLY EXEC. DIRECTOR OF OPERATIONS 40.00 X 157683 0 16866 ANGELA HECKER DIRECTOR OF MARKETING 40.00 X 169349 0 24137 BECKY VUKSTA SENIOR DIRECTOR OF OPERATIONS 40.00 X 121271 0 24369 KATHY YOUNG CONTROLLER 40.00 X 100336 0 15966 925381 0 139199 5 1 1 0 BON APPETIT MANAGEMENT COMPANY PO BOX 417632 BOSTON MA 022417632 DINING SERVICES 3894305 JD LANE CONSTRUCTION PO BOX 189 TIGERVILLE SC 29688 CONSTRUCTION SERVICES 748336 ALAN DICKERSON 10 MILFORD CHURCH RD TAYLORS SC 29687 CONSTRUCTION SERVICES 531113 FLOORS UNLIMITED 1306 BUNCOMBE STREET GREENVILLE SC 29609 CONSTRUCTION SERVICES 436441 ENVIROCARE LANDSCAPE MANAGEMENT PO BOX 80394 SIMPSONVILLE SC 29680 LANDSCAPE SERVICES 337005 5 INDEPENDENT LIVING FEES 623000 10512276 10512276 SKILLED NURSING FEES 623000 3738906 3738906 ASSISTED LIVING FEES 623000 3379127 3379127 EARNED ENTRANCE FEES 623000 2855324 2855324 COMPANION SERVICE REVENUE 623000 597151 597151 21082784 399952 399952 11136 0 129313 11136 -129313 -118177 -118177 OTHER RESIDENT REVENUE 623000 527992 527992 527992 21892551 21610776 0 281775 X 794311 439832 354479 5571320 5281576 289744 576661 506706 69955 95764 95764 61859 61859 48000 48000 73382 73382 4278584 4220357 58227 231801 163094 68707 88822 31 88791 2809600 2768836 40764 25157 13702 11455 3589399 3568706 20693 3888107 3865692 22415 317496 315666 1830 SUPPLIES 594742 507976 86766 RESIDENT CARE 488668 488668 REPAIR AND MAINTENANCE 293127 293127 MISCELLANEOUS 161964 70293 91671 121713 63045 58668 24110477 22567307 1543170 0 5061443 7637075 252327 484192 765 765 334640 251852 119903702 29981875 90793140 89921827 29078796 28264561 372804 354339 21435 57778 125915350 126972389 1645600 1741393 80065507 84797588 73481953 72630739 16764184 18414266 171957244 177583986 X -46127227 -50689675 85333 78078 -46041894 -50611597 125915350 126972389 -2217926 -2351777 0 X 0 1 X 1 0 X 1875681 854885 2730566 13860246 14706448 16300223 17584469 21082784 83534170 13860246 14706448 18175904 18439354 21082784 86264736 0 146037 146037 146037 146037 86118699 205904 256511 241465 239526 399952 1343358 205904 256511 241465 239526 399952 1343358 184854 159838 127545 788901 527992 1789130 14251004 15122797 18544914 19467781 22010728 89397224 0.96330 0.96770 0.01500 0.01310 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 103825999 22565730 81260269 6506183 3657290 2848893 9571520 3758855 5812665 89921827 CASH AND CASH EQUIVALENTS 2567220 F FIXED INCOME 17680107 F EQUITIES 8017234 F 28264561 APPLICANT DEPOSITS 713632 RIGHT-OF-USE OPERATING LEASE OBLIGATIONS 17528369 REFUNDS DUE 172265 18414266 X 19467392 -2351777 -73382 -2425159 21892551 0 21892551 24037095 0 24037095 73382 73382 24110477 PART X, LINE 2: THE ORGANIZATION IS TAX-EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND UNDER SIMILAR STATE STATUTES. ACCORDINGLY, NO INCOME TAX LIABILITY OR PROVISION FOR INCOME TAXES IS REFLECTED IN THESE FINANCIAL STATEMENTS. AS OF DECEMBER 31, 2022, THE ORGANIZATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATION FOR ITS FEDERAL INCOME TAX RETURNS PRIOR TO 2019. PART XI, LINE 2D - OTHER ADJUSTMENTS: INVESTMENT MANAGEMENT FEE -73,382. PART XII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT MANAGEMENT FEES 73,382. X 0 0 0 0 0 0 0 0 0 JAMES RICK BRACKETT CEO 216164 0 0 0 0 0 8641 0 26564 0 251369 0 0 0 ANGELA HECKER DIRECTOR OF MARKETING 66280 0 84069 0 19000 0 6984 0 17153 0 193486 0 0 0 DONALD LILLY EXEC. DIRECTOR OF OPERATIONS 156025 0 0 0 1658 0 6388 0 10478 0 174549 0 0 0 STEPHANIE ESTRADA CFO (ENDING 7/15) 78315 0 0 0 809 0 3443 0 16085 0 98652 0 0 0 BILL JOHNSON INTERIM CFO (7/1 - 11/4) 52250 0 0 0 0 0 0 0 0 0 52250 0 0 0 A SOUTH CAROLINA JOBS - ECONOMIC DEVELOPMENT AUTHORITY 570960018 837036DA7 2017-06-29 58611008 SEE PART VI 0 0 0 B SOUTH CAROLINA JOBS - ECONOMIC DEVELOPMENT AUTHORITY 570960018 837031ZL0 2020-01-23 37609953 SEE PART VI 0 0 0 A 4075000 58611008 3401087 1172220 4157073 49758540 2017 1 1 1 1 B 16999260 37609953 1142378 640547 35784406 2021 0 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 A 1 B 1 SCHEDULE K, PART I, COLUMN F IN JUNE 2017, THE SOUTH CAROLINA JOBS ECONOMIC DEVELOPMENT AUTHORITY ISSUED ECONOMIC DEVELOPMENT REFUNDING AND REVENUE BONDS (THE "SERIES 2017 BONDS") IN THE AMOUNT OF $57,455,000 FOR THE ORGANIZATION. THE PROCEEDS OF THE SERIES 2017 BONDS WERE USED TO REFUND ALL OF THE PREVIOUSLY ISSUED BOND DEBT AND NOTES PAYABLE, TO FUND CAPITAL ADDITIONS INCLUDING PRE-DEVELOPMENT COSTS OF THE COMMUNITY'S EXPANSION, TO FUND A DEBT SERVICE RESERVE FUND, AND TO PAY COSTS OF ISSUANCE. THE SERIES 2017 BONDS ARE DUE IN VARYING INSTALLMENTS THROUGH NOVEMBER 2052 AND ACCRUE INTEREST AT FIXED RATES RANGING FROM 4.0% TO 5.25%. THE SERIES 2017 BONDS ARE COLLATERALIZED BY ALL GROSS REVENUES OF THE ORGANIZATION, ASSIGNMENT OF LEASES, RENTS AND PROFITS, FUNDS AND ACCOUNTS HELD BY THE BOND TRUSTEE, AND PROPERTY AND EQUIPMENT HELD BY THE ORGANIZATION. SCHEDULE K, PART I, COLUMN F IN JANUARY 2020, THE AUTHORITY ISSUED ECONOMIC DEVELOPMENT REVENUE BONDS OF (A) $18,695,000 OF SERIES A (THE "SERIES 2020A BONDS") AND (B) UP TO $17,000,000 OF SERIES B (THE "SERIES 2020B BONDS"). THE PROCEEDS OF THE SERIES 2020 BONDS WERE USED TO (A) FUND A PROJECT FUND FOR THE COMMUNITY'S EXPANSION AND RENOVATIONS (B) FUND A DEBT SERVICE AND INTEREST RESERVE AND (C) TO PAY COSTS OF ISSUANCE. THE SERIES 2020A BONDS ARE DUE IN VARYING INSTALLMENTS THROUGH NOVEMBER 2054 AND ACCRUE INTEREST AT FIXED RATES RANGING FROM 4.0% TO 5.0%. DURING 2021, THE INITIAL ENTRANCE FEE PROCEEDS RECEIVED ON THE SALE OF THE 44 INDEPENDENT LIVING EXPANSION UNITS WAS USED TO PAY OFF THE BALANCE ON THE SERIES 2020B BONDS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED AND APPROVED BY THE ORGANIZATION'S FINANCE COMMITTEE. THE RETURN IS MADE AVAILABLE TO ALL VOTING BOARD MEMBERS BEFORE IT IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS IS REQUIRED TO SIGN A CONFLICT OF INTEREST POLICY ANNUALLY. INDIVIDUALS REALIZE THEIR FIDUCIARY DUTY TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST SO THAT THE BOARD CAN DETERMINE THE APPROPRIATE COURSE OF ACTION SHOULD A CONFLICT ARISE. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD APPROVES THE SALARIES OF TOP MANAGEMENT OFFICIALS BY UTILIZING COMPARABILITY DATA. THE CEO DETERMINES SALARY FOR KEY EMPLOYEES BY UTILIZING COMPARABILITY DATA AND INDUSTRY SALARY SURVEYS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G CONTRACTED DINING: PROGRAM SERVICE EXPENSES 3,922,300. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,922,300. CONTRACTED LABOR AND SERVICES: PROGRAM SERVICE EXPENSES 298,057. MANAGEMENT AND GENERAL EXPENSES 58,227. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 356,284.