2021-02-25T12:34:10-06:00 2020-06-30 381357951 PLANTE & MORAN PLLC 27400 NORTHWESTERN HIGHWAY SOUTHFIELD MI 48034 990 2019-07-01 351317338 WALNUT HILLS RETIREMENT COMMUNITIES INC WALN 3308933200 PO BOX 129 WALNUT CREEK OH 44687 SCOTT MARTIN VP OF FINANCE 3308933200 2021-02-16 1 DAVID LOWENTHAL P00378651 2483522500 2021-02-16 2019 2022-09-23 18:48:47Z ROB ANESHANSEL 4770 OLDE PUMP ST WALNUT CREEK OH 44687 11235583 0 X WWW.WALNUTHILLSLIVING.COM X 2007 IN WALNUT HILLS PROVIDES ACTIVE, AFFORDABLE RETIREMENT LIVING WITH SUPPORTIVE SERVICES, ASSISTED LIVING, AND SKILLED NURSING CARE. CHARITY CARE FYE JUNE 30, 2020 AMOUNTED TO $1,573,221. 7 7 231 30 0 0 30469 218472 11192213 10792668 7087 10179 228599 213291 11458368 11234610 10601 13009 0 0 5678211 5381443 0 0 0 5921213 5606916 11610025 11001368 -151657 233242 23855662 25380327 21322923 22614311 2532739 2766016 X WALNUT HILLS IS A CARING CHRISTIAN COMMUNITY OFFERING LIFE WITH PURPOSE AND HIGH QUALITY RETIREMENT SERVICES WITHIN A BROADER COMMUNITY THAT CARES AND SERVES. 0 0 7734527 13009 9189834 NURSING SERVICES - WALNUT HILLS IS A NON-PROFIT COMMUNITY BENEFIT CORPORATION THAT PROVIDES CONTINUING CARE RETIREMENT COMMUNITY (CCRC) SERVICES TO 260 RESIDENTS ON A 110-ACRE CAMPUS. WALNUT HILLS' HEALTH FACILITIES PROVIDE STATE-OF-THE-ART HEALTH CARE TECHNIQUES AND TECHNOLOGY IN AN INVITING AND SUPPORTIVE RESIDENTIAL ENVIRONMENT. OUR SETTING IS APPROPRIATE FOR INDIVIDUALS WHO ARE RECOVERING FROM SURGERY OR ILLNESS, NEED REHABILITATION, OR REQUIRE ONGOING, LONG-TERM NURSING CARE. OUR RESTORATIVE CARE PHILOSOPHY REINFORCES THE HEALING AND REHABILITATION PROCESS AND PROMOTES INDEPENDENCE. A FULL RANGE OF ACTIVITIES, CHAPLAINCY, AND SOCIAL SERVICES ARE PROVIDED. RESIDENTS WHO DO NOT MISUSE THEIR ASSETS MAY BE ELIGIBLE FOR SUPPORT FROM WALNUT HILLS IF THEIR ASSETS RUN OUT. DURING THE YEAR ENDED JUNE 30, 2020, OVER 20% OF TOTAL REVENUES WERE USED TO PROVIDE COMMUNITY BENEFITS, WHICH INCLUDES THE FOLLOWING AMOUNTS: INDIGENT CARE/CHARITY CARE - $1,573,221, MEDICARE WRITE-OFFS - $914,447. 2353035 1722355 RESIDENT & ANCILLARY SERVICES - ASSISTED LIVING APARTMENTS AT WALNUT HILLS ARE OFFERED BASED ON THE SOCIAL MODEL. ASSISTED LIVING HELPS MEET THE DESIRE OF OLDER PERSONS TO AGE IN PLACE WHILE THEY ARE ABLE TO RECEIVE THE CARE AND SUPPORTIVE SERVICES THEY REQUIRE ON A DAILY BASIS. ASSISTED LIVING PROVIDES AN ALTERNATIVE TO NURSING HOME CARE. THE PHILOSOPHY OF ASSISTED LIVING EMPHASIZES PERSONAL DIGNITY, AUTONOMY, INDEPENDENCE, AND PRIVACY. INDEPENDENT LIVING RESIDENTS PAY A LIFE-LEASE ENTRY FEE TO OCCUPY THE RESIDENCE AND PAY A MONTHLY SERVICE FEE FOR SERVICES RENDERED. ADDITIONALLY, THEY HAVE VARIOUS A LA CARTE FEES FOR INCIDENTALS AND SUPPLIES. 10087562 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 41 0 1 231 1 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 1 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 OH X SCOTT MARTIN 5745374000 1721 GREENCROFT BLVD GOSHEN IN 46526 SCOTT MARTIN TREASURER 1.00 42.60 X 0 144300 37390 RYDELL BONTRAGER SECRETARY 1.00 42.70 X 0 113755 37925 AIMEE RIEMKE ASSISTANT SECRETARY 0.20 39.40 X 0 105241 39858 ROB ANESHANSEL PRESIDENT 40.00 0.00 X 0 129233 14851 DALE SHENK ASSISTANT TREASURER 0.30 16.90 X 0 72513 0 GARRETT ROACH CHAIR 1.00 0.00 X X 0 0 0 MARVIN WENGERD BOARD MEMBER 1.00 0.00 X 0 0 0 PAUL A MILLER BOARD MEMBER 1.00 0.00 X 0 0 0 J ERIC MILLER BOARD MEMBER 1.00 0.00 X 0 0 0 ELLIS MILLER BOARD MEMBER 1.00 0.00 X 0 0 0 WILLIAM JENNINGS BOARD MEMBER 1.00 0.00 X 0 0 0 ARTHUR HAMSHER BOARD MEMBER 1.00 0.00 X 0 0 0 0 565042 130024 0 0 1 0 HEALTHPRO HERITAGE 1 MARCUS DR SUITE 102 GREENVILLE SC 29615 THERAPY SERVICES 615197 1 208777 9695 218472 NURSING SERVICES 623000 9189834 9189834 RESIDENT SERVICES 623000 1602834 1602834 10792668 11152 11152 93770 0 93770 93770 93770 973 -973 -973 -973 TV/PHONE/MAINTENANCE 900099 47230 47230 TRANSPORTATION INCOME 480000 23761 23761 BEAUTY/BARBER SHOP 623990 21679 21679 26851 26851 119521 11234610 10912189 0 103949 X 13009 13009 4486947 4237073 249874 181437 171333 10104 383589 362227 21362 329470 311122 18348 96000 96000 1678 1678 32395 32395 1214185 1185262 28923 74355 74355 875738 801481 74257 15284 15284 739623 501060 238563 9700 9700 771472 771472 973021 973021 36663 31164 5499 LICENSES & FEES 485217 478482 6735 REPAIRS & MAINTENANCE 117460 117460 DUES AND SUBSCRIPTIONS 21323 15992 5331 LAUNDRY AND LINEN 16561 16561 126241 75859 50382 11001368 10087562 913806 0 851 1145979 3472171 559230 576735 23057 23057 44987 0 22208732 7463818 15520742 14744914 6500345 6500345 61322 62254 23855662 25380327 934982 923164 1143776 1717333 9189972 8958271 5439485 6139763 4614708 4875780 21322923 22614311 X 2471417 2703762 61322 62254 2532739 2766016 23855662 25380327 X 233242 35 X X 0 1 X 1 0 X 229817 60717 37050 30469 218472 576525 10988433 11745439 10782825 11333219 10912189 55762105 124764 100 20 499 0 125383 11343014 11806256 10819895 11364187 11130661 56464013 0 6689 82147 52133 19499 160468 6689 82147 52133 19499 160468 56303545 96230 92764 103175 94921 104922 492012 96230 92764 103175 94921 104922 492012 64836 64836 11504080 11899020 10923070 11459108 11235583 57020861 0.98740 0.98730 0.00860 0.00850 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 678650 678650 18492090 5592938 12899152 1347058 606153 740905 1603852 1191152 412700 87082 73575 13507 14744914 LIFE LEASE NOTES PAYABLE 4184934 DUE TO AFFILIATE 533243 RESIDENT REFUNDS 157603 4875780 0 GREENCROFT COMMUNITIES FOUNDATION INC PO BOX 819 GOSHEN IN 46527 237126990 IRC SEC. 501(C)(3) 11500 N/A N/A TO SUPPORT ITS CHARITABLE PURPOSE 1 0 PART I, LINE 2: CONTRIBUTIONS MADE ARE UNRESTRICTED AND CAN BE USED IN ANY WAY THE DONEE ORGANIZATION SEES FIT TO FURTHER ITS TAX-EXEMPT PURPOSE. 0 0 0 0 0 0 0 0 0 SCOTT MARTIN TREASURER 0 128904 0 15000 0 396 0 3700 0 33690 0 181690 0 0 RYDELL BONTRAGER SECRETARY 0 113665 0 0 0 90 0 6000 0 31925 0 151680 0 0 SCHEDULE J, PART I THIS ENTITY RELIED ON A RELATED ORGANIZATION THAT USED THE FOLLOWING METHODS TO ESTABLISH COMPENSATION FOR THE PRESIDENT/CEO: 1. COMPENSATION SURVEY OR STUDY 2. APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION IS UNDER A MANAGEMENT/AFFILIATION CONTRACT WITH GREENCROFT RETIREMENT COMMUNITIES, INC. (GRC), A RELATED TAX-EXEMPT ORGANIZATION. ACCORDING TO THE AGREEMENT, GRC HAS THE SOLE AND EXCLUSIVE RIGHT TO SUPERVISE, MANAGE, AND OPERATE THE ORGANIZATION'S FACILITY ("THE FACILITY"). IN ADDITION, GRC HAS THE SOLE CONTROL AND DISCRETION WITH REGARD TO THE OPERATION AND MANAGEMENT OF THE FACILITY FOR ALL CUSTOMARY PURPOSES, AS WELL AS THE RIGHT TO DETERMINE ALL OPERATING POLICIES AFFECTING OR CONCERNING THE APPEARANCE AND MAINTENANCE STANDARDS OF OPERATION, AND ANY OTHER MATTER AFFECTING THE FACILITY OR THE OPERATION THEREOF. THE AGREEMENT TERMINATES IN JUNE 2028. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS ONE MEMBER, GREENCROFT RETIREMENT COMMUNITIES, INC. (GRC), THAT IS ALSO A RELATED TAX-EXEMPT ORGANIZATION. THE RESERVED POWERS OF THE SOLE MEMBER ARE AS FOLLOWS: 1. APPROVAL TO ANY CHANGES IN CORPORATE MISSION, WHICH MAY BE PROPOSED BY THE ORGANIZATION, BUT WHICH SHALL BECOME EFFECTIVE ONLY UPON APPROVAL OF GRC 2. APPROVAL OF NOMINATED CANDIDATES TO SERVE AS DIRECTOR OF THE ORGANIZATION 3. THE CREATION OR DISCONTINUATION OF PROGRAMS OR SERVICES OFFERED BY THE ORGANIZATION 4. AMENDMENTS TO THE BYLAWS AND ARTICLES OF INCORPORATION 5. APPROVAL OR THE ADOPTION OF THE ANNUAL BUDGET 6. APPROVAL OF NON-BUDGETED CONTRACTS AND/OR NON-BUDGETED PURCHASES OF OVER $50,000 7. THE INCURRENCE OF INDEBTEDNESS OF OVER $500,000 8. THE SALE OF REAL ESTATE 9. THE DONATION OR TRANSFER OF ALL OR SUBSTANTIALLY ALL OF THE ORGANIZATION'S ASSETS 10. ANY MERGER OR CONSOLIDATION WITH ANY OTHER ORGANIZATION, OR THE PARTIAL OR TOTAL DISSOLUTION OF THE ORGANIZATION 11. THE CREATION OF SUBSIDIARY CORPORATIONS, LLCS, PARTNERSHIPS, OR OTHER ENTERPRISES 12. THE ACQUISITION OF CONTROLLING INTERESTS IN ANOTHER ENTITY 13. THE APPOINTMENT OF THE PRESIDENT/CEO, CFO, SECRETARY, AND TREASURER OF THE CORPORATION (BUT NOT THE OFFICERS OF THE BOARD OF DIRECTORS) 14. THE REMOVAL OF THE CHAIR OF THE BOARD OF DIRECTORS, WITH OR WITHOUT CAUSE 15. THE REMOVAL OF MEMBERS OF THE BOARD OF DIRECTORS, WITH OR WITHOUT CAUSE NOTWITHSTANDING THESE RESERVED POWERS, THE MEMBER HAS NO FINANCIAL OBLIGATIONS OR RESPONSIBILITIES FOR ANY ACTIONS OF THE ORGANIZATION BY REASON OF SERVING AS A MEMBER. FORM 990, PART VI, SECTION A, LINE 7A SEE NARRATIVE FOR PART VI, SECTION A, LINE 6 FORM 990, PART VI, SECTION A, LINE 7B SEE NARRATIVE FOR PART VI, SECTION A, LINE 6 FORM 990, PART VI, SECTION B, LINE 11B A FINAL DRAFT OF THE FULL FORM 990, INCLUDING ALL APPLICABLE SCHEDULES, IS PRESENTED BY OUR TAX ADVISORS TO THE ORGANIZATION'S AUDIT COMMITTEE AT A REGULARLY SCHEDULED MEETING. A COPY OF THE FINAL DRAFT IS THEN PROVIDED TO EACH BOARD MEMBER PRIOR TO ITS FILING. THIS ALLOWS THE BOARD OF DIRECTORS AND MANAGEMENT TO REVIEW AND PROVIDE COMMENTS AND EXPLANATIONS REGARDING THE FORM. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS AND OFFICERS ARE REQUIRED TO ANNUALLY DISCLOSE ANY CONFLICTS OF INTEREST THEY MAY HAVE WITH THE ORGANIZATION. THE TREASURER REVIEWS EACH POLICY STATEMENT SIGNED BY THESE INDIVIDUALS TO DETERMINE IF ANY CONFLICTS HAVE OCCURRED AND NEED TO BE BROUGHT TO THE ATTENTION OF THE BOARD. IF CONFLICT ARISES, THE RESPECTIVE BOARD MEMBER WILL ABSTAIN HIM/HERSELF FROM ANY RELATED DISCUSSION, VOTE OR SIMILAR ACTION ON THE MATTER. FORM 990, PART VI, SECTION B, LINE 15 WALNUT HILLS'S (WH) PHILOSOPHY IS TO COMPENSATE TEAM MEMBERS IN A FAIR MANNER FOR THE WORTH OF WORK PROVIDED WITHIN THE CURRENT MARKET VALUE RANGE FOR EACH POSITION IN THE ORGANIZATION. WH CONDUCTS PERIODIC REVIEW OF THE MARKET TO DEVELOP AVERAGE WAGES FOR POSITIONS WITHIN WALNUT HILLS WALNUT HILLS STARTS TEAM MEMBERS THAT MEET THE MINIMUM REQUIREMENTS FOR THE POSITION AT/OR NEAR THE STARTING WAGE. WE MAKE ADJUSTMENTS TO THE STARTING WAGE BASED ON YEARS OF EXPERIENCE IN THAT SPECIFIC POSITION. OUR COMPENSATION PHILOSOPHY FOR TEAM MEMBERS OF OUR ORGANIZATION IS BASED ON VARIOUS TIERS. THE FIRST TIER IS GENERAL TEAM MEMBERS. WE HAVE HIRED AN OUTSIDE CONSULTANT TO DEVELOP A COMPENSATION SYSTEM FOR ALL OF WALNUT HILLS'S POSITIONS. THE CONSULTANTS DEVELOPED A SYSTEM WITH WAGE SCALES THAT USE THE MARKETPLACE AVERAGE FOR KEY POSITIONS AS THE STARTING POINT FOR THE SCALES. THE WAGES SCALES HAVE A MINIMUM, A 25TH PERCENTILE, A 50TH PERCENTILE (AVERAGE) A 75TH PERCENTILE AND A MAXIMUM. WE STRIVE TO KEEP OUR AVERAGE FOR POSITIONS AT THE MID-POINT OF A RANGE DEVELOPED BY OUR CONSULTANTS. PERIODICALLY WE HIRE A CONSULTANT TO UPDATE THE MARKETPLACE AVERAGE FOR SEVERAL KEY POSITIONS. THE CONSULTANT WILL USE AREA MARKETPLACE DATA, LEADINGAGE DATA, AND OTHER INDUSTRY DATA TO DEVELOP THE AVERAGE. OUR COMPENSATION PHILOSOPHY FOR MANAGEMENT AND EXECUTIVE TEAM MEMBERS (DIRECTORS AND VICE PRESIDENT) OF OUR ORGANIZATION IS SLIGHTLY DIFFERENT. THE SECOND TIER IS MANAGEMENT TEAM MEMBERS. THE WAGE SCALE SYSTEM IS THE SAME FOR OUR TEAM MEMBERS. HOWEVER, OUR POLICY STATES THAT DIRECTORS ARE LIKE OTHER TEAM MEMBERS AND CAN EARN UP TO THE 100TH PERCENTILE OF THE RANGE FOR THEIR POSITION. OUR THIRD TIER IS VICE PRESIDENT TEAM MEMBERS. THE WAGE SCALE SYSTEM IS THE SAME FOR OUR TEAM MEMBERS. THE RANGE USES THE MEDIAN AS THE MID-POINT NOT THE AVERAGE. GENERALLY THE MEDIAN IS BELOW THE AVERAGE. THE OVERALL COMPENSATION POLICY AND THE VP COMPENSATION POLICY ARE APPROVED BY THE GREENCROFT COMMUNITIES (GC) BOARD OF DIRECTORS. THE WALNUT HILLS (WH) BOARD REVIEWS THE COMPENSATION POLICIES. ANNUALLY THE GC BOARD AND THE WH BOARD REVIEW THE COMPENSATION OF THE EXECUTIVE TEAM. THEY COMPARE CURRENT WAGES WITH NATIONAL DATA PROVIDED BY LEADINGAGE (FORMERLY THE AMERICAN ASSOCIATION OF HOMES AND SERVICES FOR THE AGING - AAHSA). THE BOARDS REVIEW THE CURRENT WAGE, THE PERCENTILE RANKING OF THE EMPLOYEE IN HIS/HER RESPECTIVE RANGE AND THE MEDIAN OF THE MARKETPLACE COMPARED TO THE MID-POINT OF THE EMPLOYEE'S RANGE. THE BOARDS DOCUMENTS THESE MEETINGS AND ACTIONS TAKEN IN THEIR BOARD MINUTES. THE WH BOARD HAS REVIEWED THE BASE WAGE AND THE VARIABLE PAY FOR THE PRESIDENT OF WALNUT HILLS. IN THE FISCAL YEAR 2020 THIS POSITION WAS AT THE 77TH PERCENTILE OF THE WAGE RANGE FOR THIS POSITION IN BASE COMPENSATION. THIS PROCESS WAS LAST PERFORMED IN FISCAL YEAR 2020. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND CONFLICT OF INTEREST POLICIES ARE NOT REQUIRED DISCLOSURES PURSUANT TO INTERNAL REVENUE CODE (IRC) SECTION 6104. THESE DOCUMENTS ARE NOT AVAILABLE TO THE PUBLIC AT THIS TIME. FORM 990, PART IX, LINE 11G OUTSIDE SERVICES: PROGRAM SERVICE EXPENSES 593,128. MANAGEMENT AND GENERAL EXPENSES 28,923. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 622,051. PHYSICAL THERAPY FEES: PROGRAM SERVICE EXPENSES 571,614. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 571,614. BEAUTY/BARBER SHOP FEES: PROGRAM SERVICE EXPENSES 16,865. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 16,865. PHARMACY FEES: PROGRAM SERVICE EXPENSES 3,655. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,655. FORM 990, PART XI, LINE 9: BENEFICIAL INTEREST ACTIVITY 35. FORM 990, PART XII, LINE 2C: THE AUDIT PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. GREENCROFT CENTRAL MANOR INC PO BOX 819 GOSHEN IN 46527 356047318 HOUSING IN 501(C)(3) LINE 10 GREENCROFT RETIREMENT COMMUNITIES INC 1 GREENCROFT COMMUNITIES FOUNDATION INC PO BOX 819 GOSHEN IN 46527 237126990 FUNDRAISING IN 501(C)(3) LINE 7 GREENCROFT RETIREMENT COMMUNITIES INC 1 GREENCROFT GOSHEN INC PO BOX 819 GOSHEN IN 46527 351270709 HEALTHCARE IN 501(C)(3) LINE 10 GREENCROFT RETIREMENT COMMUNITIES INC 1 GREENCROFT MANOR III INC PO BOX 819 GOSHEN IN 46527 351431475 HOUSING IN 501(C)(3) LINE 10 GREENCROFT RETIREMENT COMMUNITIES INC 1 GREENCROFT MANOR II INC PO BOX 819 GOSHEN IN 46527 351377430 HOUSING IN 501(C)(3) LINE 10 GREENCROFT RETIREMENT COMMUNITIES INC 1 GREENCROFT MIDDLEBURY INC PO BOX 819 GOSHEN IN 46527 300036865 HOUSING IN 501(C)(3) LINE 10 GREENCROFT RETIREMENT COMMUNITIES INC 1 GREENCROFT RETIREMENT COMMUNITIES INC PO BOX 819 GOSHEN IN 46527 300036587 MANAGEMENT IN 501(C)(3) LINE 12C, III-FI N/A 0 GREENCROFT HOME HEALTH SERVICES INC PO BOX 819 GOSHEN IN 46527 351606010 HOME HEALTH IN 501(C)(3) LINE 10 GREENCROFT RETIREMENT COMMUNITIES INC 1 HAVEN HUBBARD HOMES INC DBA HAMILTON GROVE 31869 CHICAGO TRAIL NEW CARLISLE IN 46552 350870110 HEALTHCARE IN 501(C)(3) LINE 10 GREENCROFT RETIREMENT COMMUNITIES INC 1 SOUTHFIELD VILLAGE INC 6450 MIAMI CIRCLE SOUTH BEND IN 46614 351866553 HEALTHCARE IN 501(C)(3) LINE 10 GREENCROFT RETIREMENT COMMUNITIES INC 1 OAK GROVE CHRISTIAN RETIREMENT VILLAGE INC 221 WEST DIVISION ROAD DEMOTTE IN 46310 351986767 HEALTHCARE IN 501(C)(3) LINE 10 GREENCROFT RETIREMENT COMMUNITIES INC 1 CHICAGO TRAIL VILLAGE INC 31869 CHICAGO TRAIL NEW CARLISLE IN 46552 310990629 HOUSING IN 501(C)(3) LINE 10 HAVEN HUBBARD HOMES INC DBA HAMILTON GROVE 1 MENNONITE HEALTH SERVICES 234 S MAIN STREET SUITE A GOSHEN IN 46526 231421919 HEALTHCARE IN 501(C)(3) LINE 10 N/A 0 EDGEWATER PLACE INC 11351 LAFAYETTE PLAIN CITY ROAD PLAIN CITY OH 43064 823596152 HEALTHCARE IN 501(C)(3) LINE 10 GREENCROFT RETIREMENT COMMUNITIES INC 1 GREENCROFT MANAGEMENT INC PO BOX 819 GOSHEN IN 46527 270259652 MANAGEMENT SERVICES IN N/A C 0 0 1 0 0 1 0 0 0 0 0 0 0 1 1 1 1 0 1 1 GREENCROFT RETIREMENT COMMUNITIES INC M 96000 ACTUAL COST GREENCROFT RETIREMENT COMMUNITIES INC E 500000 CASH VALUE