2022-05-16T15:55:37-05:00 2021-06-30 410746749 CLIFTONLARSONALLEN LLP 1301 WEST 22ND STREET SUITE 1100 OAK BROOK IL 60523 990 2020-07-01 010729134 CLARE OAKS CLAR 6303721983 827 CARILLON DRIVE BARTLETT IL 60103 REBECCA DAVIS VP CONTROLLER - ERSM 6303721983 2022-05-16 1 REBECCA DAVIS 999009999 CHAD D KUNZE CPA P00639380 6305738600 2022-05-16 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z BRIAN DOWD 825 CARILLON DRIVE BARTLETT IL 60103 13279793 0 X WWW.THEOAKSATBARTLETT.COM X 2002 IL CLARE OAKS IS AN ENDURING SENIOR LIVING COMMUNITY THAT SUPPORTS A FULLER AND FREER LIFE. 5 5 292 45 0 0 653985 0 18771493 13275973 12125 759 0 3061 19437603 13279793 0 0 0 0 9116792 7902772 0 0 0 15378645 13733147 24495437 21635919 -5057834 -8356126 29792189 26201984 137898767 100229579 -108106578 -74027595 CLARE OAKS, A LIFE PLAN COMMUNITY, EXISTS TO NOURISH, CELEBRATE AND ENHANCE THE MIND, BODY AND SPIRIT. 0 0 16720857 13279034 CLARE OAKS IS A LIFE PLAN COMMUNITY (LPC) PROVIDING LIVING ARRANGEMENTS AND SERVICES TO PERSONS 62 YEARS OF AGE AND OLDER. CAMPUS WIDE SERVICES INCLUDE DINING, ACTIVITIES, MAINTENANCE, HOUSEKEEPING, WELLNESS PROGRAMS, SUPPORTIVE SERVICES AND 24 HOUR SECURITY. THE INDEPENDENT LIVING AREA (164 RESIDENCES) OFFERS A VARIETY OF PRIVATE LIVING ARRANGEMENTS, A FITNESS CENTER, LIBRARY, MINI MART, COMPUTER ROOM AND TRANSPORTATION. THE ASSISI HEALTH CARE CENTER OFFERS LONG TERM SKILLED CARE AND SHORT TERM REHABILITATION SERVICES. LICENSED STAFF IN THE ASSISTED LIVING (17 SUITES), MEMORY SUPPORT (16 SUITES) AND SKILLED NURSING NEIGHBORHOODS (120 ROOMS) PROVIDE COURTEOUS SERVICE, HOSPITALITY, DIGNITY AND RESPECT TO ALL IN OUR CARE. 16720857 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 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 36 0 292 1 0 0 0 0 0 0 0 0 0 0 0 0 X 5 5 0 0 0 0 0 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 IL X X BRIAN DOWD 2014477006 825 CARILLON DRIVE BARTLETT IL 60103 JULIE BOGGESS CHAIRPERSON 3.00 X X 0 0 0 ANNETTE SHOEMAKER MEMBER OF THE BOARD 3.00 X X 0 0 0 JAMES NUGENT TREASURER 3.00 X X 0 0 0 KATHY MEISINGER MEMBER OF THE BOARD 3.00 X 0 0 0 AARON REINKE SECRETARY 3.00 X 0 0 0 TIMOTHY LYNCH EXECUTIVE DIRECTOR 40.00 X 140749 0 0 JEANNENE WALKER CEO (FORMER) 40.00 X 355338 0 6045 496087 0 6045 2 0 1 0 POLSINELLI PC 150 N RIVERSIDE PLAZA3000 CHICAGO IL 60606 LEGAL 611271 ER SENIOR MANAGEMENT LLC 1 VILLAGE DRIVE SUITE 400 ABILENE TX 79606 MANAGEMENT AND DIRECTOR FEE 535084 SYMBRIA REHAB INC 28100 TORCH PKWY 600 WARRENVILLE IL 60555 THERAPY SERVICES 496809 PERKINS COIE LLP 110 NORTH WACKER DRIVE CHICAGO IL 60606 LEGAL 335583 STRETTO 7 TIMES SQUARE NEW YORK NY 10036 COMMUNICATIONS AGENT 330414 11 RESIDENT SERVICES 623000 12773850 12773850 ENTRANCE FEE AMORTIZATION 623000 502123 502123 13275973 759 759 OTHER REVENUE 623000 3061 3061 3061 13279793 13279034 0 759 265048 223828 41220 6558861 5538831 1020030 41348 34918 6430 629774 531832 97942 407741 333283 74458 70798 70798 633558 633558 79873 18329 61544 145233 69786 75447 177126 177126 1020299 1020299 12868 11996 872 281 281 3111113 3111113 1418309 1418309 901209 737789 163420 POST BANKRUPTCY PAYMENT 2712487 2712487 THERAPY 771569 771569 SUPPLIES AND AGENCY 590235 590235 FOOD 526835 526835 1561354 1148066 413288 21635919 16720857 4915062 0 3623916 2157339 1467211 1346295 68279 18707 58138 57645 1643444 1377280 39615544 23030241 17658190 16585303 4334776 3979415 938235 680000 29792189 26201984 5545250 2191624 86680617 51793093 45672900 46244862 137898767 100229579 X -108106578 -74027595 -108106578 -74027595 29792189 26201984 X -8356126 735414 41699695 X 0 0 0 X 606 653985 0 654591 19256116 18098197 18331877 17507490 12773248 85966928 19256116 18098197 18332483 18161475 12773248 86621519 0 0 0 86621519 4222 33723 79459 12125 759 130288 4222 33723 79459 12125 759 130288 448444 504772 511652 1264003 502123 3230994 19708782 18636692 18923594 19437603 13276130 89982801 0.96260 0.96510 0.00140 0.00150 X 34023882 18078623 15945259 424478 277122 147356 5035738 4674496 361242 131446 131446 16585303 DEFERRED REVENUE FROM ENTRANCE FEES 1701727 RESERVATION DEPOSITS 466180 REFUNDABLE ENTRANCE FEES 44076955 46244862 X PART X, LINE 2: THE ORGANIZATION QUALIFIES AS A TAX-EXEMPT ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). ACCORDINGLY, THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE IRC. THE ORGANIZATION IS CLASSIFIED AS A PUBLICLY SUPPORTED CHARITABLE ORGANIZATION UNDER THE IRC AND CONTRIBUTIONS TO THE ORGANIZATION QUALIFIES AS CHARITABLE TAX DEDUCTIONS FOR THE CONTRIBUTOR. THE ENTITY FILES AS A TAX-EXEMPT ORGANIZATION. SHOULD THAT STATUS BE CHALLENGED IN THE FUTURE, ALL YEARS SINCE INCEPTION COULD BE SUBJECT TO REVIEW BY THE INTERNAL REVENUE SERVICE (IRS). X 0 0 0 0 0 0 0 0 0 JEANNENE WALKER CEO (FORMER) 93693 0 261645 0 0 0 2202 0 3843 0 361383 0 0 0 PART I, LINE 3 ON AN ANNUAL BASIS, THE CEO'S COMPENSATION IS REVIEWED AND ADJUSTMENT DETERMINED BY THE BOARD. A ILLINOIS FINANCE AUTHORITY 861091967 000000000 2020-11-06 41810000 REFINANCE OF SERIES 2012 BONDS 0 0 0 A 37760000 41810000 129667 820333 3100000 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 1 0 0 0 0 0 A 1 FORM 990, PART VI, SECTION A, LINE 1 THE BOARD OF DIRECTORS SHALL CONSIST OF NOT LESS THAN SEVEN (7) NOR MORE THAN EIGHT (8) MEMBERS, NOT LESS THAN FOUR (4) NOR MORE THAN FIVE (5) OF WHOM SHALL BE DESIGNATED "CLASS A DIRECTORS" (THE "CLASS A DIRECTORS") AND THREE (3) OF WHOM SHALL BE DESIGNATED "CLASS B DIRECTORS" (THE "CLASS B DIRECTORS"). (I) THE CLASS A DIRECTORS SHALL BE ELECTED BY THE MEMBERS AT THE ANNUAL MEETING OF MEMBERS (UNLESS THE RIGHT TO ELECT CLASS A DIRECTORS SHALL HAVE BEEN WAIVED BY THE MEMBERS IN ACCORDANCE WITH THE PROVISIONS OF THESE BYLAWS, IN WHICH EVENT THE CLASS A DIRECTORS SHALL BE ELECTED BY A MAJORITY VOTE OF THE CLASS A DIRECTORS) AND (II) THE CLASS B DIRECTORS SHALL BE ELECTED BY A MAJORITY VOTE OF THE CLASS B DIRECTORS (EXCEPT IN THE EVENT OF THE PRIOR DEATH OR RESIGNATION OF ALL THE CLASS B DIRECTORS, IN WHICH EVENT THE CLASS B DIRECTORS SHALL BE ELECTED BY A MAJORITY VOTE OF THE CLASS A DIRECTORS) AT THE ANNUAL MEETING OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7A THE CLASS A DIRECTORS SHALL BE ELECTED BY THE MEMBERS OF THE ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7B NONE OF THE FOLLOWING ACTIONS SHALL BE TAKEN BY THE CORPORATION UNLESS APPROVED BY VOTE OR WRITTEN CONSENT OF THE MEMBERS: 1) AMENDMENT OF THE ARTICLES OF INCORPORATION, 2) AMENDMENT OF THE BYLAWS OF THE CORPORATION, 3) A CHANGE IN THE MISSION, PHILOSOPHY, VALUES, OR NAME OF THE CORPORATION, 4) ELECTION AND REMOVAL OF THE CLASS A DIRECTORS OR 5) THE SALE LEASE, EXCHANGE OR OTHER DISPOSITION OF ALL OR SUBSTANTIALLY ALL OF THE PROPERTY AND ASSETS OF THE CORPORATION; THE DISSOLUTION, LIQUIDATION, MERGER, CONSOLIDATION OR AFFILIATION OF THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 11B THE RETURN WILL BE DISTRIBUTED TO THE VOLUNTEER BOARD OF DIRECTORS BY THE CHIEF EXECUTIVE OFFICER FOR REVIEW AND COMMENTS. ANY QUESTIONS WILL BE DIRECTED TO THE CHIEF FINANCIAL OFFICER AND WILL BE ADDRESSED WITH THE PREPARER. FORM 990, PART VI, SECTION B, LINE 12C ALL OFFICERS, DIRECTORS, AND KEY EMPLOYEES ARE REQUIRED TO ANNUALLY COMPLETE AND SIGN A CONFLICT OF INTEREST DISCLOSURE STATEMENT. THE DISCLOSURE INCLUDES A STATEMENT THAT THE INDIVIDUAL WILL IMMEDIATELY REPORT ANY KNOWN PERSONAL OR BUSINESS RELATIONSHIP THAT EXISTS WITH AN ORGANIZATION/INDIVIDUAL DOING BUSINESS WITH CLARE OAKS, TO THE CHIEF EXECUTIVE OFFICER AND THE PRESIDENT OF THE VOLUNTEER BOARD OF DIRECTORS. ALL CONTRACTS AND AGREEMENTS ARE REVIEWED BY THE CHIEF EXECUTIVE OFFICER AND THE CHIEF FINANCIAL OFFICER TO ASCERTAIN IF ANY RELATIONSHIP EXISTS BETWEEN THE CONTRACTOR AND ANY OFFICERS, DIRECTORS, OR KEY EMPLOYEES. FORM 990, PART VI, SECTION B, LINE 15 CLARE OAKS HAS A PROCESS FOR DETERMINING COMPENSATION OF THE ORGANIZATION'S CHIEF EXECUTIVE OFFICER AND OTHER KEY EMPLOYEES THAT INCLUDES A REVIEW AND APPROVAL BY INDEPENDENT PERSONS, COMPARABILITY DATA, AND CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION. FORM 990, PART VI, SECTION C, LINE 18 CLARE OAKS MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION ON ANOTHER'S WEBSITE (I.E. GUIDESTAR) WITH FORM 1023 BEING MADE AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 CLARE OAKS MAKES ITS GOVERNING DOCUMENTS,CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: GAIN ON RESTRUCTURE OF BOND DEBT 41,699,695. FORM 990 PAGE 12 OTHER NET ASSETS ADJUSTMENT IS DUE TO THE RESTRUCTURING OF LONG-TERM DEBT DURING THE YEAR AS PART OF EMERGENCE FROM BANKRUPTCY WHICH RESULTED IN A ONE-TIME GAIN OF $41,699,695.