2022-08-22T12:05:51-05:00 2021-12-31 390859910 BAKER TILLY US LLP 1570 FRUITVILLE PIKE SUITE 400 LANCASTER PA 17601 990 2021-01-01 570337132 BISHOP GADSDEN EPISCOPAL RETIREMENT COMMUNITY BISH 8434066298 1 BISHOP GADSDEN WAY CHARLESTON SC 29412 SARAH TIPTON PRESIDENT/CEO 8434066298 2022-08-19 1 SARAH TIPTON XXX-XX-XXXX KERRI N BOGDA CPA P00760402 7177404863 X 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z SARAH TIPTON 1 BISHOP GADSDEN WAY CHARLESTON SC 29412 52940490 0 X WWW.BISHOPGADSDEN.ORG X 1943 SC OPERATION OF A FAITH-BASED RETIREMENT FACILITY PROVIDING HOUSING AND HEALTH CARE SERVICES 13 13 613 20 0 0 2988154 7487278 36028899 39773902 5939956 3407799 133053 158118 45090062 50827097 473170 855913 0 0 19800748 20131910 0 0 214527 20482677 22491081 40756595 43478904 4333467 7348193 253426353 293506409 198704947 226350163 54721406 67156246 X BISHOP GADSDEN, A LIFE CARE RETIREMENT COMMUNITY, EMBRACES GOD'S CALL TO MINISTRY. WE AFFIRM POSITIVE LIVING FOR ALL WHO LIVE AND WORK HERE. WE SERVE WITH INTEGRITY. WE EXERCISE WISE STEWARDSHIP. WE REACH OUT WITH A GENEROUS SPIRIT. 0 0 34873422 0 39773902 FOUNDED BY THE FOURTH EPISCOPAL BISHOP OF SOUTH CAROLINA IN 1850, BISHOP GADSDEN EPISCOPAL RETIREMENT COMMUNITY UPHOLDS THE TRADITION OF FAITH-BASED, NOT-FOR-PROFIT ORGANIZATIONS DEDICATED TO THE WELL-BEING OF THOSE PERSONS WHO, BECAUSE OF AGE, PERSONAL CONDITIONS, HEALTH AND THEIR EXPRESS DESIRE, CHOOSE TO RESIDE IN A RETIREMENT COMMUNITY. BISHOP GADSDEN IS A MISSION-DRIVEN, NON-PROFIT-DRIVEN, ORGANIZATION. IT HAS A LONG-TERM OBLIGATION TO ITS RESIDENTS AND IS COMMITTED TO REMOVING FINANCIAL BARRIERS TO RESIDENCY. ITS ROOTS IN THE GREATER CHARLESTON COMMUNITY SPAN OVER 171 YEARS AND, THROUGH THE YEARS, IT HAS RESPONDED TO SPECIFIC NEEDS OF THE GREATER COMMUNITY. IT HAS LONG BEEN OPEN TO ALL MEN AND WOMEN WITHOUT REGARD TO RACE, CREED, RELIGIONS, SEXUAL PREFERENCE, OR NATIONAL ORIGIN.RETIREMENT COMMUNITY: BISHOP GADSDEN SERVES APPROXIMATELY 500 SENIOR ADULTS, 62 YEARS OF AGE AND OLDER, RESIDING IN FOUR LEVELS OF CARE: INDEPENDENT COMMUNITY (268 UNITS), ASSISTED LIVING (69 UNITS), MEMORY SUPPORT (19 BEDS), AND SKILLED NURSING CARE (50 BEDS). BISHOP GADSDEN OPERATES TO MEET THE PRIMARY NEEDS OF SENIOR CITIZENS BY PROVIDING (1) RESIDENTIAL FACILITIES DESIGNED TO MEET PHYSICAL, EMOTIONAL, RECREATIONAL, SOCIAL, RELIGIOUS, AND SIMILAR NEEDS OF THE ELDERLY, (2) ACCESS TO HEALTH CARE SERVICES AS NEEDED, (3) ASSURANCE THAT THE ORGANIZATION IS RUN IN A FISCALLY RESPONSIBLE MANNER, AND (4) THE COMMITMENT OF FINANCIAL SECURITY TO ANY RESIDENT WHO RUNS OUT OF MONEY THROUGH NO FAULT OF HIS/HER OWN. 438792 438792 0 RESIDENT ASSISTANCE PROGRAM: BISHOP CHRISTOPHER GADSDEN FOUNDED THE HOME FOR ORPHANS AND WIDOWS IN 1850 TO ASSIST THOSE IN NEED. HIS VISION FOR A CARING COMMUNITY IS THE HEART AND SOUL OF THE ORGANIZATION NOW CALLED BISHOP GADSDEN. AT THE CORE OF BISHOP GADSDEN IS THE BELIEF AND EXECUTION OF THE CHARITABLE MISSION.SINCE 1995, BISHOP GADSDEN'S RESIDENT ASSISTANCE FUND HAS DONATED MORE THAN $5.20 MILLION IN CHARITABLE CARE TO RESIDENTS FACING FINANCIAL DIFFICULTIES. THE RESIDENT ASSISTANCE FUND ALLEVIATES ANY ANXIETIES RESIDENTS AND THEIR FAMILIES HAVE BY ASSURING THEM THAT THEY WILL CONTINUE TO RECEIVE THE CARE THEY NEED REGARDLESS OF WHETHER THEY CAN PAY. THROUGH THE CONTINUED EFFORTS OF BISHOP GADSDEN RESIDENTS, FAMILIES, STAFF, AND OTHER ORGANIZATIONS, THE RESIDENT ASSISTANCE FUND CONTINUES TO BE A HIGH PRIORITY. THIS IMPERATIVE FUND ALLOWS BISHOP GADSDEN TO ASSIST RESIDENTS AND FUTURE RESIDENTS WHO, BY NO FAULT OF THEIR OWN, CAN NO LONGER AFFORD THEIR CONTINUED CARE, WHILE ALSO SUPPORTING OUTSIDE CHARITABLE ORGANIZATIONS.ALL RESIDENTS WHO ARE RECEIVING FINANCIAL SUPPORT OR ASSISTANCE ARE BETWEEN THE AGES OF 73-98. THEY COME FROM THE GREATER CHARLESTON AREA, ARE BOTH MALE AND FEMALE, AND CROSS ALL SOCIOECONOMIC LINES. THEIR QUALIFICATIONS RANGE FROM HAVING A PAST STRONG COMMITMENT TO THEIR CHURCH COMMUNITY THROUGH VOLUNTEERING TIME AND TALENTS, TO RESIDENTS WHO HAVE MADE SIGNIFICANT CONTRIBUTIONS TO THE CHARLESTON AREA THROUGH THEIR TIME OR TALENT. THEIR CONTRIBUTIONS MAY BE OF AN ARTISTIC NATURE, ONE OF PUBLIC SERVICE, OR THE ABILITY TO HAVE CREATED A POSITIVE PHILOSOPHICAL CHANGE. BISHOP GADSDEN WILL CONTINUE TO EXTEND ASSISTANCE TO RESIDENTS, ACTING ON THE FIRM BELIEF THAT REMOVING ECONOMIC BARRIERS TO RESIDENCY IS PART OF ITS MISSION.IN 2021, $439,000 WAS DISTRIBUTED IN CHARITABLE CARE. 417121 417121 0 CHARITABLE GIVING AND GENEROUS SPIRIT PROGRAMS: THROUGHOUT BISHOP GADSDEN'S HISTORY, A COMMITMENT TO GIVING HAS BEEN ON THE FOREFRONT RESULTING IN OVER $9,477,010 IN CHARITABLE CARE AND GIFTS BEING RAISED FOR AND DISTRIBUTED TO OTHER NON-PROFIT ORGANIZATIONS IN OUR LOCAL COMMUNITY.THE CHARITABLE MISSION COMMITTEE'S NONPROFIT SELECTION CHAIR AND FELLOW RESIDENTS SELECT A SMALL GROUP (5 TO 7) OF NONPROFITS FROM A LIST OF 30 TO 40 NONPROFIT GRANT APPLICATIONS TO SUPPORT EACH YEAR. LED BY RESIDENTS, WITH ASSISTANCE FROM TEAM MEMBERS OF THE CHARITABLE GIVING OFFICE, THE CHARITABLE MISSION COMMITTEE SETS A FUNDRAISING GOAL. IN 2021, THIS IMPORTANT COMMITTEE DISBURSED $323,920 IN CASH. THESE FUNDS WERE ALLOCATED AS FOLLOWS: $79,155 EACH, TO BARRIER ISLANDS FREE MEDICAL CLINIC, CHARLESTON AREA SENIOR CITIZENS, SEA ISLANDS HUNGER AWARENESS FOUNDATION, TRICOUNTY FAMILY MINISTRIES, $2,500 CHARLESTON ANIMAL SOCIETY, $2,000 BE A MENTOR, $2,800 VANTAGE POINT FOUNDATION. ADDITIONALLY, $13,649 IN IN-KIND ITEMS, PLUS 900 TOYS FOR HABITAT FOR HUMANITY AND TOYS FOR TOTS WERE DONATED. IN ADDITION TO CHARITABLE CAUSES THAT SUPPORT OUTSIDE ORGANIZATIONS, RESIDENTS AND STAFF CONTRIBUTE TO THE STRONGHEART EMPLOYEE EDUCATION SCHOLARSHIP, WITH $78,520 BEING DISTRIBUTED TO EMPLOYEES FOR EDUCATION PURPOSES AND EDUCATION DEBT ELIMINATION, AS WELL AS THE EMPLOYEE ASSISTANCE FUND, WHICH GAVE LOANS AND GRANTS IN THE NET AMOUNT OF $8,336. IN ADDITION, THE EMPLOYEE ASSISTANCE FUND PROVIDED $6,345 IN BACK-TO-SCHOOL FUNDS FOR ELIGIBLE EMPLOYEES.RESIDENTS AND STAFF CONTRIBUTE MORE THAN 7,500 VOLUNTEER HOURS TO LOCAL AND NATIONAL CHARITABLE ORGANIZATIONS, AN INVESTMENT OF $215,391. ADDITIONALLY, BISHOP GADSDEN'S CULINARY DEPARTMENT DONATED 22,296 POUNDS OF FOOD, EQUALING A GIFT OF $151,161, AND 33,444 MEALS. EXECUTIVE STAFF ALSO SIT ON COMMUNITY BOARDS SUCH AS ROPER ST. FRANCIS, VANTAGE POINT FOUNDATION, LOWCOUNTRY ASSOCIATION OF FUNDRAISING PROFESSIONALS, SC/NC PLANNED GIVING CONFERENCE, SEA ISLAND HABITAT FOR HUMANITY, LEADINGAGE SC AND WE ARE SHARING HOPE. 35729335 1 1 0 1 0 0 0 0 0 1 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 119 0 613 1 0 0 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 SC X SARAH TIPTON PRESIDENTCEO 8437623300 1 BISHOP GADSDEN WAY CHARLESTON SC 29412 BARBARA CHRISTIE CURRENT CHAIR 1.00 X X 0 0 0 MARGARET P BLACKMER BOARD MEMBER 1.00 X 0 0 0 BRIAN HUSSAIN SECRETARY/TREASURER 1.00 X X 0 0 0 PATRICK J KELLY BOARD MEMBER 1.00 X 0 0 0 ROBERT VINGI BOARD MEMBER 1.00 X 0 0 0 DR CHARLES C GEER BOARD MEMBER 1.00 X 0 0 0 DAVID BENNETT BOARD MEMBER 1.00 X 0 0 0 MELINDA LUCKA KELLEY BOARD MEMBER 1.00 X 0 0 0 JOANNE M HILL BOARD MEMBER 1.00 X 0 0 0 HEYWARD CARTER JR BOARD MEMBER 1.00 X 0 0 0 NADINE LOMAX BOARD MEMBER 1.00 X 0 0 0 KATHERINE ROBINSON BOARD MEMBER 1.00 X 0 0 0 GREGORY L SMITH BOARD MEMBER 1.00 X 0 0 0 SARAH E H TIPTON CEO/PRESIDENT 50.00 X 317938 0 31995 LYNNE L KERRISON CFO 50.00 X 292874 0 33317 AARON D ROOP VP, OPERATIONS 50.00 X 207971 0 23057 JONNA COOK DIRECTOR OF HEALTH SERVICES 50.00 X 160975 0 12742 DANIEL F LARRABEE DIRECTOR OF ENVIRONMENTAL SERVICES 50.00 X 156209 0 6848 JAMES A EPPER DIRECTOR OF CULINARY SERVICES 50.00 X 143809 0 15222 KIMBERLY BORTS DIRECTOR OF CHARITABLE GIVING 50.00 X 141518 0 7308 S LEWIS RICE-BOYD DIRECTOR OF NURSING 50.00 X 128766 0 5929 KATHERINE JAYNE DIRECTOR OF COMMUNITY LIFE SVCS. 50.00 X 117974 0 23014 LAURA WILSON DIRECTOR OF MARKETING 50.00 X 124717 0 6812 C WILLIAM TRAWICK CONSULTANT/FORMER PRES. 20.00 X 143041 0 0 1935792 0 166244 12 1 1 0 SAMET CORPORATION 2457 AVIATION AVE CHARLESTON SC 29406 GENERAL CONTRACTOR 32604490 S K BURT CONSTRUCTION LLC 201 BAYBERRY RUN SUMMERVILLE SC 29485 CONSTRUCTION SERVICES 2270857 RLPS ARCHITECTS 250 VALLEYBROOK DR LANCASTER PA 17601 ARCHITECTS 909731 TURF TECHS LLC 127 HAMPTON HALL LN MONCKS CORNER SC 29461 LANDSCAPING SERVICES 750734 BCG CONSULTANTS 76 HAGOOD AVE CHARLESTON SC 29403 CONSTRUCTION CONSULTANT 340775 18 4297119 3190159 612268 7487278 RESIDENT REVENUE 623000 39773902 39773902 39773902 1483327 1483327 1210500 1210500 4668 0 4668 4668 4668 2708356 1971757 22627 736599 -22627 713972 713972 95444 119009 -23565 -23565 BUILDING SERVICES 900099 53414 53414 RESIDENT BILLINGS/IL CHARGES 900099 34150 34150 LATE CHARGES 900099 20351 20351 69100 69100 177015 50827097 39773902 0 3565917 323920 323920 531993 531993 1243926 1017714 215745 10467 15128765 12377554 2623907 127304 439600 359657 76244 3699 1825385 1493433 316592 15360 1494234 1222503 259158 12573 41167 41167 77600 77600 4650 4650 145074 145074 1044648 642099 402549 228667 228667 2102532 1677969 393706 30857 440175 393 439029 753 4011665 4010902 763 56669 50544 6097 28 1415404 1415404 7864070 7525102 338968 1083929 1083929 FOOD & BEVERAGE 2376706 2365924 2906 7876 HEALTHCARE CENTER 473591 473591 MEDICAL EXPENSES 399605 399605 LICENSES AND TAXES 177218 12099 165119 547711 302520 239581 5610 43478904 35729335 7535042 214527 8007027 4612236 3507612 4803239 715054 423756 430147 2225675 193248 180546 534592 319780 279130307 79189922 153070455 199940385 86968218 81000792 253426353 293506409 7333720 9364125 50508711 53147856 92355054 119680263 2368048 46139414 44157919 198704947 226350163 X 35386141 44299343 19335265 22856903 54721406 67156246 253426353 293506409 X 7348193 2892402 2194245 X 0 1 X 1 0 X 1557054 1958913 6001690 2988154 7487278 19993089 34135858 35574912 36356672 36028899 39773902 181870243 35692912 37533825 42358362 39017053 47261180 201863332 18348 233712 40500 278065 570625 1050490 1420572 2594812 5648516 2842253 13556643 1050490 1438920 2828524 5689016 3120318 14127268 187736064 993492 1066362 934328 1540662 2698495 7233339 993492 1066362 934328 1540662 2698495 7233339 137674 254589 262075 187121 272459 1113918 36824078 38854776 43554765 40744836 50232134 210210589 0.89310 0.90620 0.03440 0.02790 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: MISCELLANEOUS REVENUE - 2017 AMOUNT: $ 52,511. 2018 AMOUNT: $ 117,530. 2019 AMOUNT: $ 110,044. 2020 AMOUNT: $ 20,555. 2021 AMOUNT: $ 43,927. CHAPEL SERVICES FEE - 2017 AMOUNT: $ 4,000. 2018 AMOUNT: $ 6,750. 2019 AMOUNT: $ 3,303. 2020 AMOUNT: $ 350. 2021 AMOUNT: $ 2,250. TOBACCO SURCHARGE REV - 2017 AMOUNT: $ 4,130. 2018 AMOUNT: $ 2,535. 2019 AMOUNT: $ 2,715. 2020 AMOUNT: $ 860. POSTAGE SALES - 2017 AMOUNT: $ 6,970. 2018 AMOUNT: $ 8,664. 2019 AMOUNT: $ 9,012. 2020 AMOUNT: $ 14,584. 2021 AMOUNT: $ 13,232. CLINIC HOURS INCOME - 2017 AMOUNT: $ 10,050. 2018 AMOUNT: $ 2,746. INDEPENDENT LIVING - 2017 AMOUNT: $ 16,801. 2018 AMOUNT: $ 5,975. 2019 AMOUNT: $ 6,389. 2020 AMOUNT: $ 11,089. 2021 AMOUNT: $ 34,150. PARKING - 2017 AMOUNT: $ 10,300. 2018 AMOUNT: $ 10,700. 2019 AMOUNT: $ 9,200. 2020 AMOUNT: $ 8,300. 2021 AMOUNT: $ 7,500. LATE CHARGES - 2017 AMOUNT: $ 32,912. 2018 AMOUNT: $ 23,801. 2019 AMOUNT: $ 15,887. 2020 AMOUNT: $ 29,053. 2021 AMOUNT: $ 20,351. GROSS SALES OF INVENTORY - 2018 AMOUNT: $ 75,888. 2019 AMOUNT: $ 102,067. 2020 AMOUNT: $ 67,307. 2021 AMOUNT: $ 95,444. WORKERS COMP REBATES - 2019 AMOUNT: $ 3,458. BUILDING SERVICES - 2020 AMOUNT: $ 35,023. 2021 AMOUNT: $ 53,414. REBATES - 2021 AMOUNT: $ 2,191. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 4650 4650 0 PART II-B, LINE 1: THE ORGANIZATION PAYS DUES TO LEADINGAGE AND LEADINGAGE SC, ORGANIZATIONS WHICH ADVOCATE FOR SENIOR CITIZENS. PORTIONS OF THE DUES PAID ARE ALLOCATED TO LOBBYING EXPENSES. 6806517 102905 414352 7500 7316274 6252315 38914 522788 7500 6806517 5733820 71295 574700 127500 6252315 5854200 47233 -159613 8000 5733820 5306975 140970 412255 6000 5854200 0.00000 0.65380 0.34620 0 0 6807833 6807833 167513383 67989428 99523955 23297790 10623975 12673815 81511301 576519 80934782 199940385 GIFT ANNUITIES 354394 OTHER LIABILITIES 557622 REFUNDABLE ENTRANCE FEES 42529666 DERIVATIVE FINANCIAL INSTRUMENT 716237 44157919 55563759 2892402 1725251 4617653 50946106 -119009 -119009 50827097 43128919 119009 119009 43009910 468994 468994 43478904 PART V, LINE 4: THE ENDOWMENT ASSETS ARE INVESTED IN A MANNER THAT IS INTENDED TO PRESERVE AND GROW CAPITAL, STRIVE FOR CONSISTENT ABSOLUTE RETURNS, PRESERVE PURCHASING POWER BY STRIVING FOR LONG-TERM RETURNS WHICH EITHER MATCH OR EXCEED THE SET PAYOUT, CONTROL FEES AND INFLATION WITHOUT PUTTING THE PRINCIPAL VALUE AT PRUDENT RISK, AND DIVERSIFY INVESTMENTS CONSISTENT WITH COMMONLY ACCEPTED INDUSTRY STANDARDS TO MINIMIZE THE RISK OF LARGE LOSSES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -40,532. INVESTMENT FEES -145,074. CHANGE IN VALUE OF INTEREST SWAP 1,910,857. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -119,009. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 119,009. PART XII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT FEES 145,074. DONATIONS TO ORGANIZATIONS RELEASED FROM TEMPORARY RESTRICTED NET ASSETS 323,920. 1 BARRIER ISLANDS FREE MEDICAL CLINIC 3225 MAYBANK HIGHWAY BUILDING C JOHNS ISLAND SC 29455 205628911 591(C)(3) 79155 0 GENERAL OPERATIONS CHARLESTON AREA SENIOR CITIZENS SERVICES INC 259 MEETING STREET CHARLESTON SC 29401 576030048 591(C)(3) 79155 0 GENERAL OPERATIONS SEA ISLANDS HUNGER AWARENESS FOUNDATION PO BOX 268 JOHNS ISLAND SC 29457 472730495 591(C)(3) 79155 0 GENERAL OPERATIONS TRICOUNTY FAMILY MINISTRIES 2105 COSGROVE AVENUE NORTH CHARLESTON SC 29405 570794782 591(C)(3) 79155 0 GENERAL OPERATIONS 4 FINANCIAL ASSISTANCE TO RESIDENTS 6 438792 EDUCATIONAL SCHOLARSHIPS/EMPLOYEE ASSISTANCE/BACK TO SCHOOL GIFT CARDS 119 93201 PART I, LINE 2: FINANCIAL ASSISTANCE IS GIVEN TO RESIDENTS WHO QUALIFY FOR RESIDENCY IN EVERY WAY EXCEPT FINANCIAL. ALL PROSPECTIVE RESIDENTS SEEKING FINANCIAL ASSISTANCE UNDERGO THE SAME SCREENING THAT ALL OTHER PROSPECTIVE RESIDENTS DO. IF A CURRENT RESIDENT SEEKS FINANCIAL ASSISTANCE, BISHOP GADSDEN REQUIRES AN UPDATE OF HIS/HER CONFIDENTIAL FINANCIAL INFORMATION. WE MAY ALSO REQUIRE FURTHER DOCUMENTS IN THE FORM OF TAX RETURNS AND/OR BANK STATEMENTS. A RESIDENT IS NEVER ASKED TO LEAVE BISHOP GADSDEN IF HE/SHE OUTLIVES RESOURCES THROUGH NO FAULT OF HIS/HER OWN. EMPLOYEE EDUCATIONAL SCHOLARSHIPS ARE ALSO PROVIDED. EMPLOYEES COMPLETE AN APPLIATION AND A SCHOLARSHIP COMMITTEE DECIDES ON RECIPIENTS. THIS PROCESS HAPPENS TWICE ANNUALLY. EMPLOYEES WHO REQUIRE FINANCIAL ASSISTANCE LIKEWISE FILL OUT AN APPLICATION. A RESIDENT COMMITTEE PROVIDES OVERSIGHT TO THE EMPLOYEE ASSISTANCE FUND AND MAKES DECISIONS ON RECIPIENTS. X X X 0 1 0 0 0 0 0 1 0 SARAH E H TIPTON CEO/PRESIDENT 258909 0 40000 0 19029 0 19500 0 12495 0 349933 0 0 0 LYNNE L KERRISON CFO 226239 0 44064 0 22571 0 19500 0 13817 0 326191 0 0 0 AARON D ROOP VP, OPERATIONS 179343 0 28628 0 0 0 0 0 23057 0 231028 0 0 0 JONNA COOK DIRECTOR OF HEALTH SERVICES 136029 0 22473 0 2473 0 0 0 12742 0 173717 0 0 0 DANIEL F LARRABEE DIRECTOR OF ENVIRONMENTAL SERVICES 122460 0 26419 0 7330 0 0 0 6848 0 163057 0 0 0 JAMES A EPPER DIRECTOR OF CULINARY SERVICES 123202 0 14784 0 5823 0 0 0 15222 0 159031 0 0 0 C WILLIAM TRAWICK CONSULTANT/FORMER PRES. 143041 0 0 0 0 0 0 0 0 0 143041 0 0 0 PART I, LINE 4B SARAH E. H. TIPTON (CEO/PRESIDENT) AND LYNNE KERRISON (CFO) PARTICIPATE IN A 457(B) DEFERRED COMPENSATION PLAN. AT THE END OF THE YEAR, THE TOTAL AMOUNT OF EMPLOYER CONTRIBUTIONS TO THE 457(B) PLANS WERE $19,500 AND $19,500, RESPECTIVELY. THIS COMPENSATION IS REFLECTED AS PART OF THE DEFERRED COMPENSATION REPORTED ON FORM 990, PART VII AND IN SCHEDULE J, PART II, COLUMN (C). PART I, LINE 7 THE RESIDENTS CONTRIBUTE MONEY TO THE ANNUAL APPRECIATION FUND. BASED ON THE AMOUNT RAISED A DOLLAR VALUE IS GIVEN TO EACH FULL TIME HOURLY EMPLOYEE - A PRO-RATED AMOUNT IS GIVEN TO EMPLOYEES NOT FULL TIME. THE BOARD OF TRUSTEES APPROVES A DOLLAR AMOUNT OF BONUS (TOTAL BONUS POOL) TO SALARIED STAFF AND SOME HOURLY STAFF (OVER AND ABOVE THE EMPLOYEE APPRECIATION AMOUNT) - THE BONUS TO THE CEO IS RECOMMENDED BY THE BOARD. THE OPERATIONAL RESULTS OF BISHOP GADSDEN IS A PRIMARY DRIVER OF THE BONUS POOL, ALONG WITH OPERATIONAL DIFFICULTIES, BUDGET BENCHMARKS, FEEDBACK FROM RESIDENTS, ETC. THE CEO, ALONG WITH INPUT FROM MANAGEMENT STAFF AND HR DETERMINES THE AMOUNT OF BONUS TO SALARIED STAFF. THIS IS BASED UPON NON-FINANCIAL METRICS AND THE RESULTS OF OPERATIONS. THE DISCUSSION IS DOCUMENTED IN THE BOARD MINUTES. A SC JOBS - ECONOMIC DEVELOPMENT AUTHORITY 570960018 2014-05-07 56563209 REFUNDING OF SERIES 2002 AND CONSTRUCTION OF QUAY APARTMENT BUILDINGS 0 0 0 B SC JOBS - ECONOMIC DEVELOPMENT AUTHORITY 570960018 2016-07-28 11162500 TO REFUND THE SERIES 2002F1 BONDS 0 0 0 C SC JOBS - ECONOMIC DEVELOPMENT AUTHORITY 570960018 2017-04-03 12015486 REFUNDING OF SERIES 2007 BOND ISSUE 0 0 0 D SC JOBS - ECONOMIC DEVELOPMENT AUTHORITY 570960018 837031ZA4 2019-12-20 105981487 CONSTRUCTION COSTS ASSOCIATED WITH REPOSITIONING PROJECT 0 0 0 A 36210379 56563209 660000 42791783 13111426 2015 1 0 1 1 B 4658792 11162500 162181 11000319 2016 1 0 1 1 C 4451794 12015486 165486 11850000 2017 1 0 1 1 D 106081806 4505465 3073951 1398828 86225599 1257718 18598489 2022 0 0 0 1 A 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 C 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 D 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 1 0 0 0 0 0 1 C 0 0 1 0 0 0 0 0 1 D 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 D 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: SC JOBS - ECONOMIC DEVELOPMENT AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 06/28/2017 2019 BOND ISSUE, PART II, LINE 3: THE AMOUNT OF THE 2019 BOND ISSUE PROCEEDS ON PART II, LINE 3, DIFFERS FROM THE FACE VALUE OF THE BONDS IN PART I DUE TO INVESTMENT EARNINGS GENERATED DURING THE PROJECT PERIOD. X 2 3000 SIMILAR SALES X 9 609268 NYSE 0 0 1 0 PART I, COLUMN (B): THE NUMBER IN COLUMN B REPRESENTS THE NUMBER OF CONTRIBUTORS. FORM 990, PART VI, SECTION B, LINE 11B AN INTERNAL REVIEW WAS PERFORMED BY THE ORGANIZATION'S ADMINISTRATIVE TEAM. A COPY OF FORM 990 WAS PROVIDED TO THE GOVERNING BODY FOR THEIR REVIEW BEFORE FILING THE FORM 990 WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C ALL MEMBERS OF THE BOARD OF TRUSTEES ARE REQUIRED TO COMPLETE A CONFLICT OF INTEREST STATEMENT ANNUALLY. THE POLICY COVERS FAMILIES AND BUSINESS RELATIONSHIPS AS POTENTIAL SOURCES OF CONFLICT. AFTER THE STATEMENTS ARE TURNED IN, THEY ARE REVIEWED BY THE CHAIRMAN OF THE BOARD AND THE PRESIDENT/CEO. SHOULD A CONFLICT BE NOTED, THE CHAIRMAN AND PRESIDENT/CEO EITHER ASK THE BOARD MEMBER TO RESOLVE THE CONFLICT OR RECUSE HIM OR HERSELF FROM VOTING ON MATTERS WHERE THE CONFLICT EXISTS. FORM 990, PART VI, SECTION B, LINE 15 TO ENSURE COMPENSATION IS WITHIN FAIR MARKET VALUE FOR THE SENIOR LIVING INDUSTRY, THE BOARD OF TRUSTEES REVIEWS 990 DATA AND ASSOCIATION PUBLICATIONS. THE BOARD ALSO QUESTIONS LEADING CONSULTANTS IN OUR INDUSTRY AND PERFORMS SALARY REVIEWS. ALL DISCUSSIONS REGARDING COMPENSATION ARE DOCUMENTED IN BOARD MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE CONFLICT OF INTEREST POLICY AND THE FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. THE FINANCIAL STATEMENTS ARE ALSO POSTED ON THE ORGANIZATION'S WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -40,532. CHANGE IN VALUE OF INTEREST RATE SWAP 1,910,857. DONATIONS TO ORGANIZATIONS RELEASED FROM TEMPORARY RESTRICTED NET ASSETS 323,920.