2021-11-15T14:58:25-06:00 2020-12-31 410746749 CLIFTONLARSONALLEN LLP 220 S 6TH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2020-01-01 420680440 WESLEY RETIREMENT SERVICES INC WESL 5152716789 5508 NORTHWEST 88TH STREET JOHNSTON IA 50131 CRAIG FLANAGAN CFO 5152716789 2021-11-15 1 CRAIG FLANAGAN 999009999 CORY RUTLEDGE P01329381 6123764500 2021-11-15 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z ROB KRETZINGER 5508 NORTHWEST 88TH STREET JOHNSTON IA 50131 95178557 0 X WWW.WESLEYLIFE.ORG X 1947 IA PROVIDING HOUSING, HEALTH CARE, AND SUPPORT SERVICES FOR OLDER ADULTS. 10 10 0 298 0 0 3330020 9416378 84404621 78929515 4377555 4229583 0 0 92112196 92575476 4965 0 0 0 46321444 47513302 0 0 695456 41130190 42129411 87456599 89642713 4655597 2932763 293068365 292963272 268581293 261313800 24487072 31649472 X GUIDED BY CHRISTIAN COMPASSION, WESLEYLIFE SUPPORTS THE INDEPENDENCE, HEALTH, AND WELL-BEING OF OLDER ADULTS WHEREVER THEY CALL HOME. AS A NON-PROFIT ORGANIZATION, WE UNDERSTAND OUR RESPONSIBILITY AND OBLIGATION TO OPERATE WITH TRANSPARENCY, HONESTY, AND INTEGRITY IN ALL WE DO. OUR ORGANIZATIONAL CORE VALUES ARE QUALITY, EXCELLENCE, HOSPITALITY AND INNOVATION. WE ARE COMMITTED TO BE GOOD STEWARDS OF OUR RESIDENTS' RESOURCES TO IMPROVE THE LIVES OF THOSE WE SERVE. 0 0 81940780 0 78929515 WRS WAS ESTABLISHED IN 1947 AS A FAITH-BASED, NON-PROFIT ORGANIZATION AND HAS SINCE DEDICATED ITSELF TO PROVIDING HOUSING, HEALTHCARE, AND SUPPORT SERVICES TO OLDER ADULTS IN WAYS THAT ENHANCE THE HEALTH AND WELL-BEING OF THOSE WE SERVE. WESLEYLIFE IS THE SOLE MEMBER OF WRS AND OF WESLEY COMMUNITY SERVICES, INC. (WCS), WHICH PROVIDES HOME AND COMMUNITY-BASED SERVICES. WRS IS A 501(C)(3) NON-PROFIT ORGANIZATION THAT CURRENTLY OWNS AND OPERATES SEVEN COMMUNITIES FOR HEALTHY LIVING THAT OFFER A FULL CONTINUUM OF WELLNESS SERVICES. THOSE COMMUNITIES ARE: WESLEY ACRES IN DES MOINES; HALCYON HOUSE IN WASHINGTON; HERITAGE HOUSE IN ATLANTIC; THE VILLAGE IN INDIANOLA; PARK CENTRE IN NEWTON; EDGEWATER, A WESLEY ACTIVE LIFE COMMUNITY IN WEST DES MOINES; HEARTHSTONE, A MINISTRY OF WESLEYLIFE IN PELLA AND BRIO OF JOHNSTON.OUR COMMUNITY BENEFITS FROM 2020 INCLUDE:- RESIDENTS WHO DEPLETED THEIR FINANCIAL RESOURCES THROUGH NO FAULT OF THEIR OWN RECEIVED $3,815,872 OF CHARITABLE ASSISTANCE THROUGH EACH COMMUNITY'S GOOD SAMARITAN OR GOOD SHEPHERD FUND TO ALLOW THEM TO REMAIN IN THEIR APARTMENTS OR TOWNHOMES. - IN 2020, IN INCREASING OUR REACH TO UNDERSERVED COMMUNITY MEMBERS, MEDICAID DAYS INCREASED BY 15% OVER LAST YEAR TO 70,261 DAYS.- COMMUNITY MEMBERS PARTICIPATED IN VARIOUS SUPPORT GROUPS OFFERED AT OUR COMMUNITIES, INCLUDING GROUPS FOR THOSE LIVING WITH ALZHEIMER'S AND PARKINSON'S DISEASES AND BLINDNESS. GROUPS ARE ALSO OPEN TO RESIDENTS' CAREGIVERS AND LOVED ONES. - WE OFFERED LUNCH-AND-LEARNS AND OTHER EDUCATIONAL PROGRAMMING DESIGNED TO PROMOTE HEALTH AND WELL-BEING AMONG OUR RESIDENTS, CLIENTS, AND TEAM MEMBERS. - WE PROVIDED MORE THAN 8,495 HOURS OF VOLUNTEER HOURS TO RESIDENTS, CLIENTS, AND TEAM MEMBERS. - WE COLLECTED AND DONATED CLOTHING, COATS, BOOKS, AND OTHER SUPPLIES TO AREA CHARITIES. 81940780 1 1 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 10 10 0 1 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 1 1 X X CRAIG FLANAGAN CFO 5152716789 5508 NORTHWEST 88TH STREET JOHNSTON IA 50131 X ROB KRETZINGER PRESIDENT & CEO 22.00 18.00 X 747992 611993 54199 SALLY GROOME CMO (THROUGH NOVEMBER 2020) 22.00 18.00 X 119755 97982 20935 DAMON BUSKOHL WESLEY ACRES EXECUTIVE DIRECTOR 40.00 0.00 X 195626 0 38884 NICK HASHFIELD CFO (THROUGH JUNE 2020) 22.00 18.00 X 95148 77849 22206 GLEN LEWIS EDGEWATER EXECUTIVE DIRECTOR 40.00 0.00 X 158483 0 26740 NANCY BLOWERS-HAMILTON COTTAGES EXECUTIVE DIRECTOR 40.00 0.00 X 134781 0 38080 SHANNON MINSHALL PARK CENTRE EXECUTIVE DIRECTOR 40.00 0.00 X 129334 0 6135 CHRISTINE MARSHALL HALCYON HOUSE EXECUTIVE DIRECTOR 40.00 0.00 X 127557 0 6980 CRAIG FLANAGAN CFO 22.00 18.00 X 52528 42977 6647 KEVIN LAGREE CHAIR 2.00 3.00 X X 0 0 0 SUSAN OSWEILLER SECRETARY/TREASURER 2.00 3.00 X X 0 0 0 CHAD RASMUSSEN PAST CHAIR 2.00 3.00 X X 0 0 0 KIP ALBERTSON DIRECTOR 2.00 3.00 X 0 0 0 ABBEY GILROY DIRECTOR 2.00 3.00 X 0 0 0 NICK HENDERSON DIRECTOR 2.00 3.00 X 0 0 0 JODY LORENCE DIRECTOR 2.00 3.00 X 0 0 0 BOB RUCH DIRECTOR 2.00 3.00 X 0 0 0 DAVID STOUT DIRECTOR 2.00 3.00 X 0 0 0 DR CHRISTINA TAYLOR DIRECTOR 2.00 3.00 X 0 0 0 1761204 830801 220806 7 0 1 0 SELECT REHABILITATION PO BOX 71985 CHICAGO IL 60694 THERAPY SERVICES 2380065 GRAPE TREE MEDICAL STAFFING 2501 BOJI BEND DRIVE STE 100 MILFORD IA 51351 NURSING POOL 304068 ROCK MEDICAL GROUP LLC PO BOX 31246 TAMPA FL 31246 NURSING POOL 219458 FUSION MEDICAL STAFFING PO BOX 82674 LINCOLN NE 68501 NURSING POOL 213480 CBS STAFFING 7517 DOUGLAS AVE SUITE 17 URBANDALE IA 50322 NURSING POOL 138655 5 4553559 4862819 68231 9416378 HEALTH CARE SERVICES 624100 71419302 71419302 OTHER RESIDENT SERVICE 900099 6748812 6748812 MEALS INCOME 624100 761401 761401 78929515 3037881 3037881 2621320 1173463 1870601 732480 750719 440983 1191702 1191702 92575476 78929515 0 4229583 1072623 804468 268155 38401892 33967476 4005815 428601 830832 730066 92303 8463 3792455 3571534 150771 70150 3415500 3120110 264239 31151 140447 87980 52467 256474 56077 200397 249036 182764 66272 5248152 4924468 319243 4441 667212 508968 157544 700 4125722 3936866 182996 5860 533865 376571 156746 548 4429879 4356730 72341 808 308905 159497 136703 12705 124146 23479 99063 1604 5317818 5150697 167121 12764869 12451102 305981 7786 2031545 1992326 38068 1151 FOOD 4578318 4578318 EMPLOYEE RECRUITING 602377 551004 46696 4677 EMPLOYEE RELATIONS 445549 407551 34539 3459 DUES & SUBSCRIPTIONS 161052 147317 12485 1250 144045 -144589 176532 112102 89642713 81940780 7006477 695456 3864544 11766414 6904220 8943394 263368 787389 5748310 3533703 400099 400206 225280 178498 344050176 160205546 192718132 183844630 60674199 58534454 2213566 2333405 191161 19865486 22641179 293068365 292963272 10864544 9174780 19655528 19198169 139842443 133610054 92258450 92861822 306781 2227326 5653547 4241649 268581293 261313800 X 6424600 11439862 18062472 20209610 24487072 31649472 293068365 292963272 X 2932763 2558638 1670999 X 0 1 X 1 1 1 X 2408745 3581215 1076184 3330020 9416378 19812542 71605281 72185959 75094792 84404621 78929515 382220168 74014026 75767174 76170976 87734641 88345893 402032710 2600 1100 2775 26580 33055 786904 1822424 2609328 786904 2600 1100 1825199 26580 2642383 399390327 1545089 2736543 1427119 3365625 3037881 12112257 1545089 2736543 1427119 3365625 3037881 12112257 75559115 78503717 77598095 91100266 91383774 414144967 0.96440 0.96820 0.02920 0.02510 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 10982535 3806388 1817931 16606854 7600796 2760468 621271 10982535 7786038 359273 -544515 7600796 7496991 182905 106142 7786038 7301951 175718 19322 7496991 0.00000 1.00000 0.00000 0 0 4624242 4624242 281644850 125440770 156204080 17420992 4996456 12424536 37912642 29768320 8144322 2447450 2447450 183844630 BOND FUNDS 7852100 INTERCOMPANY RECEIVABLES 14789079 22641179 CHARITABLE REMAINDER TRUST LIABILITY 74783 ANNUITY PAYMENT LIABILITY 74589 FAIR VALUE INTEREST RATE SWAP 3198141 ASSET RETIREMENT OBLIGATION 103114 ENTRY FEE ESCROW DEPOSITS 791022 4241649 X PART IV, LINE 2B: REPAYABLE ENTRY FEES. THESE AGREEMENTS ARE USED IN THE NEWER COMMUNITIES OR WITH MORE RECENT BUILDING OR REMODELING ADDITIONS AT THE OLDER CAMPUSES. IT FEATURES A DECLINING REFUND WITH A MINIMUM REFUND %. THE MINIMUM REFUND WILL VARY FROM 50%, 70%, 75% OR 90% DEPENDING ON THE CAMPUS AND THE LIVING UNITS. THE REFUNDS ARE CONTINGENT UPON THE RECEIPT OF A SUCCESSOR ENTRY FEE. THIS IS THE PREDOMINANT ENTRY FEE TYPE AT THE VILLAGE, WESLEY ACRES, PARK CENTRE AND THE TOWNHOMES AT HALCYON HOUSE. THE EDGEWATER FACILITY DOES NOT REFUND THE ENTRANCE FEE UNTIL BOTH THE UNIT HAS BEEN RENTED BY A SUCCESSOR AND THE RESIDENT IS NO LONGER LIVING AT THE FACILITY. BRIO IS MAINLY A RENTAL FACILITY BUT THEY WILL HAVE ENTRANCE FEE RESIDENTS STARTING IN LATE OCTOBER 2018. ALL INITIAL BRIO RESIDENTS HAVE 100% REFUNDABLE CONTRACTS. AFTER THE INITIAL RESIDENT, THE REFUNDABLE % IS 90%. PART V, LINE 4: THE EARNINGS FROM THE GOOD SAMARITAN/SHEPHERD ENDOWMENT ARE TRANSFERRED TO THE GOOD SAMARITAN/SHEPHERD RESERVE, WHICH IS USED TO ASSIST RESIDENTS OF MODEST MEANS WITH THEIR MONTHLY FEES IN ACCORDANCE WITH GUIDELINES ESTABLISHED BY THE BOARD OF DIRECTORS. EARNINGS FROM THE SARGENT MEMORIAL ENDOWMENT ARE USED FOR SIMILAR PURPOSES FOR WESLEY ACRES. EARNINGS FROM THE SCHEERER MEMORIAL ENDOWMENT ARE USED TO PURCHASE ITEMS FOR THE BENEFIT OF WESLEY ACRES RESIDENTS. EARNINGS FROM THE NURSING SCHOLARSHIP ENDOWMENT ARE USED TO ASSIST HALCYON AND WESLEY ACRES EMPLOYEES IN ADVANCING THEIR NURSING EDUCATION. EARNINGS FROM THE BAKER EMPLOYMENT ENDOWMENT ARE USED TO ASSIST EMPLOYEES OF WESLEY ACRES WITH SHORT-TERM FINANCIAL NEEDS. EARNINGS FROM THE PARK CENTRE AND VILLAGE BUILDING ENDOWMENTS ARE USED TO MAKE IMPROVEMENTS, UPGRADES AND REPAIRS TO THE BUILDINGS. EARNINGS FROM THE PARK CENTRE COMPUTER ENDOWMENT ARE USED TO PURCHASE COMPUTER HARDWARE. EARNINGS FROM NORRIS WELLNESS ENDOWMENT ARE USED TO SUPPORT A WELLNESS PROGRAM AT WESLEY ACRES. EARNINGS FROM THE GOOD SAMARITAN/CORA WAGNER TRUST ARE USED TO ASSIST RESIDENTS AT WESLEY ACRES. PART X, LINE 2: THE CORPORATION AND ITS AFFILIATES ARE GENERALLY EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND APPLICABLE SECTIONS OF THE STATE STATUTES. CONSEQUENTLY, NO PROVISION HAS BEEN MADE FOR INCOME TAXES. HOWEVER, THERE ARE IMMATERIAL AMOUNTS OF UNRELATED BUSINESS INCOME IN CERTAIN AFFILIATES THAT ARE TAXABLE. THE CORPORATION ACCOUNTS FOR ITS UNCERTAINTY IN INCOME TAX UNDER ACCOUNTING STANDARDS CODIFICATION 740, INCOME TAXES WESLEYLIFE, WRS, AND WCS FILE INFORMATION RETURNS AS TAX-EXEMPT ORGANIZATIONS. SHOULD THAT STATUS BE CHALLENGED IN THE FUTURE, ALL YEARS SINCE INCEPTION COULD BE SUBJECT TO REVIEW BY THE INTERNAL REVENUE SERVICE. X 1 1 X X X X X 0 1 0 0 0 0 0 0 0 ROB KRETZINGER PRESIDENT & CEO 330084 270068 404844 331236 13064 10689 12238 10012 17572 14377 777802 636382 320810 262480 SALLY GROOME CMO (THROUGH NOVEMBER 2020) 101994 83450 0 0 17761 14532 3642 2980 7872 6441 131269 107403 0 0 DAMON BUSKOHL WESLEY ACRES EXECUTIVE DIRECTOR 189366 0 5000 0 1260 0 6033 0 32851 0 234510 0 0 0 NICK HASHFIELD CFO (THROUGH JUNE 2020) 95032 77754 0 0 116 95 2911 2381 9303 7611 107362 87841 0 0 GLEN LEWIS EDGEWATER EXECUTIVE DIRECTOR 157398 0 0 0 1085 0 4900 0 21840 0 185223 0 0 0 NANCY BLOWERS-HAMILTON COTTAGES EXECUTIVE DIRECTOR 133745 0 0 0 1036 0 4252 0 33828 0 172861 0 0 0 PART I, LINE 1A ROB KRETZINGER, PRESIDENT & CEO, RECEIVED $3,000 FOR SOCIAL CLUB DUES; THIS BENEFIT WAS INCLUDED IN HIS TAXABLE W-2 COMPENSATION. PART I, LINE 3 WESLEYLIFE DETERMINES THE CEO'S COMPENSATION. WESLEYLIFE, WCS AND WRS HAVE THE SAME BOARD MEMBERS. SEE SCHEDULE O FOR THE NARRATIVE RELATED TO FORM 990, PART VI, LINE 15 FOR FURTHER INFORMATION. PART I, LINE 4B THE FOLLOWING INDIVIDUAL RECEIVED A DISTRIBUTION FROM THEIR 457(F) DEFERRED COMPENSATION PLAN IN 2020: NICK HARSHFIELD - $13,715 ROB KRETZINGER, PRESIDENT/CEO OF WESLEY RETIREMENT SERVICES AND RELATED AFILLIATES, HAS PARTICIPATED IN A 457(F) DEFERRED COMPENSATION PROGRAM DATING BACK TO 2004. THIS WAS A LONG-TERM RETENTION PROGRAM THAT BECAME VESTED IN 2018. IN 2020, THE PLAN PROVIDED A PRE-TAX PAYMENT OF $583,290, SPLIT BETWEEN WESLEY RETIREMENT SERVICES AND RELATED AFFILIATES. HE IS RESPONSIBLE FOR HIS OWN TAX LIABILITY ON THE LUMP SUM PRE-TAX PAYMENT. A IOWA FINANCE AUTHORITY 521699886 46245WAV9 2003-07-31 22510000 IMPROVE FACILITIES, REFUND PRIOR ISSUES 10/29/92, 4/10/97, 11/6/97, 6/22/00 0 0 0 B IOWA FINANCE AUTHORITY 521699886 46246KXT4 2006-10-12 8780000 IMPROVE FACILITIES, REFUND PRIOR ISSUE OF $7,980,000 (7/31/03) 0 0 0 C IOWA FINANCE AUTHORITY 521699886 2007-04-27 1030000 PURCHASE FACILITIES 0 0 0 D IOWA FINANCE AUTHORITY 521699886 2010-12-16 12000000 CONSTRUCT FACILITIES,REFUND PRIOR YEAR ISSUE(07/31/03) 0 0 0 A 130000 22700116 191335 11518574 10990208 2005 1 0 1 1 B 7425000 8880230 18911 156495 119917 3224476 5360432 2007 1 0 1 1 C 507935 1030000 1030000 2007 0 0 1 1 D 6168949 12001928 138348 240000 70593 8657020 2895967 2012 1 0 1 1 A 0 1 0 0 0 0 1 B 0 1 0 0 0 0 1 C 0 1 0 0 0 0 1 D 0 1 0 0 0 0 1 A 0 0 1 1 1 1 SEE PART VI 27.400000000000 0 0 0 0 1 B 0 0 1 1 1 1 SEE PART VI 27.200000000000 0 0 0 0 1 C 0 0 1 1 1 0 0 0 1 D 0 0 1 1 1 0 0 0 1 A 1 B 1 C 1 D 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: IOWA FINANCE AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 06/30/2006 ISSUER NAME: IOWA FINANCE AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 04/12/2008 ISSUER NAME: IOWA FINANCE AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 10/27/2007 ISSUER NAME: IOWA FINANCE AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 11/30/2013 ISSUER NAME: IOWA FINANCE AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 11/30/2017 ISSUER NAME: CITY OF HARVEY, IOWA DATE THE REBATE COMPUTATION WAS PERFORMED: 11/30/2013 ISSUER NAME: CITY OF PELLA, IOWA DATE THE REBATE COMPUTATION WAS PERFORMED: 11/30/2014 ISSUER NAME: IOWA FINANCE AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 11/01/2020 ISSUER NAME: CITY OF AINSWORTH, IOWA DATE THE REBATE COMPUTATION WAS PERFORMED: 05/31/2020 ISSUER NAME: CITY OF LEWIS, IOWA DATE THE REBATE COMPUTATION WAS PERFORMED: 05/31/2020 ISSUER NAME: CITY OF POLK CITY, IOWA DATE THE REBATE COMPUTATION WAS PERFORMED: 12/31/2018 SCHEDULE K, PART II: ENTITY 1, ENTITY 2 AND ENTITY 3, PART II, LINE 3 - THE TOTAL PROCEEDS DO NOT AGREE TO THE ISSUE PRICE IN PART I, COLUMN (E) DUE TO INVESTMENT EARNINGS. ENTITY 2, PART II, COLUMNS A AND D, LINE 3 - THE TOTAL PROCEEDS DO NOT EQUAL THE SUMMATION OF LINES 4-12 DUE TO TRANSFERRED OR REPLACEMENT PROCEEDS IN LINE 4. ENTITY 4, PART II, COLUMN A, C AND D, LINE 3 - THE TOTAL PROCEEDS DO NOT AGREE TO THE ISSUE PRICE IN PART I, COLUMN E AS THIS DEBT WAS ISSUED ON A DRAW-DOWN BASIS AND THE TOTAL PRINCIPAL AVAILABLE HAS NOT YET BEEN DRAWN. ENTITY 5, PART II, COLUMNS A, B AND C, LINE 3 - THE TOTAL PROCEEDS DO NOT AGREE TO THE ISSUE PRICE IN PART I, COLUMN E AS THIS DEBT WAS ISSUED ON A DRAW-DOWN BASIS AND THE TOTAL PRINCIPAL AVAILABLE HAS NOT YET BEEN DRAWN. NOTE REGARDING THE REBATE COMPUTATION: ENTITY 1, PART IV, COLUMNS A, B, C AND D, LINE 2C - SINCE THE BOND PROCEEDS HAVE BEEN SPENT, A SPENDING EXCEPTION WAS MET, AND THE DEBT SERVICE FUND WAS OPERATED ON A BONA FIDE BASIS, NO FURTHER REBATE CALCULATIONS ARE NECESSARY. ENTITY 2, PART IV, COLUMNS B AND C, LINE 2C - THIS DEBT WAS ISSUED ON A DRAW-DOWN BASIS AND AMOUNTS WERE DRAWN AS PROJECT COSTS WERE INCURRED. AS NO REBATE ARBITRAGE WAS EARNED AND THE DEBT SERVICE FUND WAS OPERATED ON A BONA FIDE BASIS, NO FURTHER REBATE ANALYSIS IS NECESSARY. ENTITY 3, PART IV, COLUMN D, LINE 2C - THIS DEBT WAS ISSUED ON A DRAW-DOWN BASIS AND AMOUNTS WERE DRAWN AS PROJECT COSTS WERE INCURRED. AS NO REBATE ARBITRAGE WAS EARNED AND THE DEBT SERVICE FUND WAS OPERATED ON A BONA FIDE BASIS, NO FURTHER REBATE ANALYSIS IS NECESSARY. A IOWA FINANCE AUTHORITY 521699886 2012-12-13 20300000 REFUND PRIOR ISSUE (12/20/07) 0 0 0 B CITY OF HARVEY IOWA 421104344 2012-12-21 10000000 LOAN TO FINANCE CONSTRUCTION OF NEW FACILITIES 0 0 0 C CITY OF PELLA IOWA 426005115 2012-12-21 6500000 LOAN TO FINANCE CONSTRUCTION OF NEW FACILITIES 0 0 0 D IOWA FINANCE AUTHORITY 521699886 2015-11-12 41200000 IMPROVE FACILITIES, REFUND PRIOR ISSUE 0 0 0 A 2039262 20300000 1711275 290795 20005190 2009 1 0 1 1 B 3522417 10000000 90223 9909777 2014 0 0 1 1 C 1500000 6500000 54428 6445572 2014 0 0 1 1 D 8586341 41777411 3332953 1177469 40599942 2009 1 1 1 1 A 1 1 0 0 0 0 1 B 1 1 0 0 0 0 1 C 1 1 0 0 0 0 1 D 1 1 0 0 0 0 1 A 0 0 1 1 1 0 0 0 1 B 0 0 0 1 1 0 0 0 1 C 0 0 0 1 1 0 0 0 1 D 0 0 1 1 1 0 0 0 1 A 1 B 1 C 1 D 1 A CITY OF AINSWORTH IOWA 426004179 2015-06-25 10000000 CONSTRUCT AND IMPROVE FACILITIES 0 0 0 B CITY OF LEWIS IOWA 426004884 2015-06-25 6100000 CONSTRUCT AND IMPROVE FACILITIES 0 0 0 C IOWA FINANCE AUTHORITY 521699886 2017-04-27 16150000 FINANCE EXPANSION OF EDGEWATER 0 0 0 D CITY OF POLK CITY IOWA 421019654 2017-08-28 7000000 CONSTRUCTION OF THE BRIO FACILITY 0 0 0 A 1224203 10017565 50001 9300773 666791 2017 0 0 0 1 B 757874 6102564 50001 6029999 22564 2018 0 0 1 1 C 12397769 16150000 54845 15671412 423743 0 0 0 1 D 730000 7000000 50001 6949999 2018 0 0 1 1 A 0 1 0 0 0 0 1 B 0 1 0 0 0 0 1 C 1 1 0 0 0 0 1 D 1 1 0 0 0 0 1 A 0 0 0 1 1 0 0 0 1 B 0 0 0 1 1 0 0 0 1 C 0 1 0 0 1 0 0 0 1 D 0 0 1 1 1 1 SEE PART VI 24.900000000000 0 0 0 0 1 A 1 B 1 C 1 D 1 A CITY OF GRANGER IOWA 420922580 2017-08-28 10000000 CONSTRUCTION OF THE BRIO FACILITY 0 0 0 B CITY OF WINDSOR HEIGHTS IOWA 426004577 2017-08-28 8500000 CONSTRUCTION OF THE BRIO FACILITY 0 0 0 C CITY OF PRINCETON IOWA 420952299 2019-12-30 10000000 ACQUIRE AND RENOVATE FACILITIES 0 0 0 D CITY OF LECLAIRE IOWA 426006431 2019-12-30 10000000 ACQUIRE AND RENOVATE FACILITIES 0 0 0 A 227500 9567355 50001 9517354 0 0 0 1 B 335000 8500000 50001 8449999 2020 0 0 1 1 C 1167220 50001 1117219 0 0 0 1 D 1167220 50001 1117219 0 0 0 1 A 1 1 0 0 0 0 1 B 1 1 0 0 0 0 1 C 1 0 0 0 0 0 1 D 1 0 0 0 0 0 1 A 0 1 0 0 1 0 0 0 1 B 0 1 0 0 1 0 0 0 1 C 0 1 0 0 1 0 0 0 1 D 0 1 0 0 1 0 0 0 1 A 1 B 1 C 1 D 1 A CITY OF RIVERDALE IOWA 421186528 2019-12-30 10000000 ACQUIRE AND RENOVATE FACILITIES 0 0 0 B CITY OF PRINCETON IOWA 420952299 2020-04-02 9000000 ACQUIRE AND RENOVATE FACILITIES 0 0 0 C SCOTT COUNTY IOWA 426004465 2020-05-27 3000000 ACQUIRE AND RENOVATE FACILITIES 0 0 0 A 1167220 50001 1117219 0 0 0 1 B 1166451 50001 1116450 0 0 0 1 C 1165906 19118 1146788 0 0 0 1 A 1 0 0 0 0 0 1 B 1 0 0 0 0 0 1 C 1 0 0 0 0 0 1 A 0 1 0 0 1 0 0 0 1 B 0 1 0 0 1 0 0 0 1 C 0 1 0 0 1 0 0 0 1 A 1 B 1 C 1 X 8382 FAIR MARKET VALUE X 2 49899 FAIR MARKET VALUE X 1 100 FAIR MARKET VALUE X MISCELLANEOUS 7 9850 FAIR MARKET VALUE 0 0 1 0 FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE IS COMPRISED OF THE CHAIR OF THE BOARD, THE PRESIDENT/CEO AND AT LEAST THREE DIRECTORS SELECTED BY VOTE OF THE BOARD OF DIRECTORS. EXCEPT FOR THE PRESIDENT/CEO, ALL MEMBERS OF THE EXECUTIVE COMMITTEE MUST BE MEMBERS OF THE BOARD OF DIRECTORS. THE EXECUTIVE COMMITTEE HAS ALL THE AUTHORITY OF THE BOARD (EXCEPT AS NOTED BELOW) BUT LIMITS ITSELF TO MATTERS THAT REQUIRE IMMEDIATE ACTION AND CANNOT WAIT UNTIL THE NEXT SCHEDULED BOARD MEETING. THE EXECUTIVE COMMITTEE SHALL HAVE NO AUTHORITY TO AMEND THE ARTICLES OF INCORPORATION, THE BYLAWS, OR ADOPT A PLAN OF MERGER OR CONSOLIDATION. THE EXECUTIVE COMMITTEE SHALL REPORT ON ITS ACTIONS AT THE NEXT MEETING OF THE BOARD OF DIRECTORS AND SUCH ACTIONS SHALL BE SUBJECT TO REVISION AND ALTERATION OF THE BOARD. FORM 990, PART VI, SECTION A, LINE 3 WESLEY RETIREMENT SERVICES, INC. PAYS WESLEYLIFE, A RELATED ORGANIZATION, FEES TO PERFORM MANAGEMENT SERVICES FOR THE ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 6 WESLEYLIFE, AN EXEMPT 501(C)(3) ORGANIZATION, IS THE SOLE CORPORATE MEMBER. FORM 990, PART VI, SECTION A, LINE 7A WESLEYLIFE ELECTS THE BOARD MEMBERS OF WRS. VACANCIES IN THE BOARD OF DIRECTORS AT WRS ARE FILLED BY WESLEYLIFE. FORM 990, PART VI, SECTION A, LINE 7B APPROVAL OF THE FOLLOWING MATTERS ARE RESERVED EXCLUSIVELY TO THE MEMBER: 1. APPROVAL OF CHANGES TO THE ARTICLES OF INCORPORATION OR BYLAWS; 2. APPOINTMENT OF, OR REMOVAL OF, WITH OR WITHOUT CAUSE, THE MEMBERS OF THE BOARD OF DIRECTORS; ABILITY TO FIX THE NUMBER OF BOARD OF DIRECTORS; 3. APPROVAL OF THE INCURRENCE OF DEBT; 4. THE SALE, TRANSFER OR SUBSTANTIAL CHANGE IN USE OF ALL OR SUBSTANTIALLY ALL OF THE ASSETS, DIVESTITURES, DISSOLUTIONS, CLOSURES, MERGERS, CONSOLIDATIONS, OR CHANGES IN CORPORATE MEMBERS; 5. APPROVAL OF THE TRANSFER OR ENCUMBRANCE OF THE ASSETS; AND 6. APPROVAL OF THE ANNUAL OPERATING BUDGET AND CAPITAL PLAN. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM. THE CEO, CFO AND CONTROLLER REVIEWED THE DOCUMENT INTERNALLY. THE FORM 990 WAS THEN REVIEWED BY THE BOARD'S FINANCE COMMITTEE AND MADE AVAILABLE TO ALL VOTING BOARD MEMBERS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CORPORATION COMMUNICATES THE CONFLICT OF INTEREST POLICY ANNUALLY TO BOARD MEMBERS AND REQUIRES BOARD MEMBERS TO COMPLETE AN ANNUAL STATEMENT DESCRIBING ACTUAL OR PERCEIVED CONFLICTS OF INTEREST. IF ANY CONFLICTS ARISE THE BOARD MUST FOLLOW THE PROCEDURES SPECIFIED IN THE POLICY TO RESOLVE THE MATTER. WITH RESPECT TO THE BOARD MEMBERS, A PERSON WHO HAS A CONFLICT OF INTEREST IS DEEMED AN INTERESTED DIRECTOR. THE INTEREST DIRECTOR SHALL NOT PARTICIPATE IN THE VOTE REGARDING HIS/HER POTENTIAL CONFLICT AND, DEPENDING UPON THE CIRCUMSTANCES, MAY NOT BE PERMITTED TO PARTICIPATE IN THE DISCUSSION REGARDING THE ISSUE. NO INTERESTED DIRECTOR SHALL BE PERMITTED TO VOTE IN MATTERS IN WHICH HE/SHE HAS A CONFLICT OF INTEREST. WITH RESPECT TO EMPLOYEES, THE PRESIDENT, IN CONSULTATION WITH OTHER UNBIASED MANAGERS, SHALL DETERMINE WHETHER A CONFLICT OF INTEREST EXISTS. AFTER EXERCISING DUE DILIGENCE, INCLUDING INVESTIGATING ALTERNATIVES TO A TRANSACTION OR ARRANGEMENT THAT GIVES RISE TO A CONFLICT OF INTEREST, THE PRESIDENT SHALL DETERMINE WHETHER THE CORPORATION IS ABLE TO OBTAIN WITH REASONABLE EFFORTS, A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM ANOTHER INDIVIDUAL OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT AVAILABLE, THE ARRANGEMENT OR TRANSACTION MAY GO FORWARD IF THE PRESIDENT DETERMINES THAT THE TRANSACTION IS FAIR AND IN THE BEST INTEREST OF THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS IS EMPOWERED BY THE BOARD OF DIRECTORS, ACCORDING TO ARTICLE VII OF THE ORGANIZATION'S BY-LAWS, TO DETERMINE PERFORMANCE GOALS AND MONITOR AND EVALUATE PERFORMANCE OF THE CHIEF EXECUTIVE OFFICER. THE EXECUTIVE COMMITTEE INCLUDES IN ITS EVALUATION, FEEDBACK FROM OTHER BOARD MEMBERS AND OTHERS NOT ASSOCIATED WITH THE COMMITTEE OR THE BOARD. THE COMMITTEE MONITORS PERFORMANCE OF THE ORGANIZATION AND CEO THROUGHOUT THE YEAR AND PROVIDES ONGOING ASSESSMENTS TO THE CEO USING AN EVALUATION AND RATING TOOL. THE COMMITTEE UTILIZES AN ANNUAL INDEPENDENT COMPENSATION SURVEY TO ASSIST IN DETERMINING COMPENSATION. MULTI-SITE ORGANIZATIONS AND LEADINGAGE, FORMERLY KNOWN AS "THE AMERICAN ASSOCIATION OF HOMES AND SERVICES FOR THE AGING", PROVIDE AN ANNUAL SURVEY OF COMPENSATION FOR CEOS AND OTHER OFFICERS. (WESLEYLIFE HAS SEARCHED FOR OTHER SURVEYS TO SUPPLEMENT THIS ONE BUT NO OTHER SURVEY PROVIDES THE SAME DEGREE OF COMPARABILITY.) THE SURVEY INCLUDES ONLY SENIOR LIVING ORGANIZATIONS AND IS SORTED BY GEOGRAPHIC REGIONS, REVENUE VOLUME, FULL-TIME EQUIVALENT EMPLOYEES, AND ASSET SIZE. IN 2015, THE EXECUTIVE COMMITTEE OF THE BOARD ENGAGED AN INDEPENDENT, THIRD PARTY TO TAKE A DEEPER ANALYSIS INTO THE COMPENSATION DESIGN AS COMPARED TO SIMILAR ORGANIZATIONS. THE INTENT WAS TO GO BEYOND THE INDUSTRY BENCHMARKED STUDY AND DRILL INTO APPROPRIATENESS, COMPETITIVENESS, AND OVERALL DESIGN. IT WAS DETERMINED, THROUGH THIS SECOND OPINION, THAT COMPENSATION WAS APPROPRIATE FOR THE SIZE AND COMPLEXITY OF THE ORGANIZATION. THE EXECUTIVE COMMITTEE DISCLOSES TO THE FULL BOARD OF DIRECTORS, IN CLOSED SESSION, THE RESULTS OF THE PERFORMANCE EVALUATION AND COMPENSATION DECISIONS. MINUTES OF MEETINGS ARE MAINTAINED AND THE BOARD CHAIRMAN PROVIDES WRITTEN NOTIFICATION TO BOTH THE CEO AND THE CORPORATE FINANCE DEPARTMENT REGARDING COMPENSATION DECISIONS. THE EVALUATION AND COMPENSATION SETTING PROCESS IS MUCH THE SAME FOR THE OTHER OFFICERS AS FOR THE CEO WITH SOME EXCEPTIONS. THE CEO DETERMINES THE PERFORMANCE GOALS AND MONITORS RESULTS. THE SAME SURVEY AS DESCRIBED ABOVE IS USED TO ASSIST IN DETERMINING COMPENSATION. THE CEO DISCLOSES ANNUALLY TO THE EXECUTIVE COMMITTEE THE COMPENSATION DECISIONS AND REASONS FOR THOSE DECISIONS IN REGARDS TO OTHER OFFICERS. THE LAST REVIEW PROCESS WAS CONDUCTED IN 2020 AND IS DONE ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VII, SECTION A AND FORM 990, PART V, LINE 2: THE ORGANIZATION IS REPORTING 0 W-2S FILED IN FORM 990, PART V, LINE 2 BECAUSE ALL FORMS W-2 ARE FILED BY WESLEYLIFE, A RELATED ORGANIZATION, AS THE COMMON PAYMASTER. HOWEVER, THE ORGANIZATION IS REPORTING COMPENSATION IN FORM 990, PART VII, SECTION A FOR EACH EMPLOYEE BECUASE EACH EMPLOYEE SPLITS THEIR TIME AND SERVICES BETWEEN THE RELATED ORGANIZATIONS, SO A PORTION OF THEIR COMPENSATION IS ATTRIBUTABLE TO THE FILING ORGANIZATION. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF INTEREST RATE SWAPS 1,556,849. CHANGE IN VALUE OF PERPETUAL TRUST 114,150. EDGEWATER A WESLEY ACTIVE LIVE COMMUNITY LLC 5508 NW 88TH ST JOHNSTON IA 50131 260358303 LONG TERM CARE IA 19093939 97694338 WESLEY RETIREMENT SERVICES INC HEARTHSTONE A MINISTRY OF WESLEYLIFE LLC 413 JEFFERSON ST PELLA IA 50219 270992962 LONG TERM CARE IA 12439224 24282306 WESLEY RETIREMENT SERVICES INC BRIO OF JOHNSTON LLC 6901 PECKHAM STREET JOHNSTON IA 50131 814615602 LONG TERM CARE IA 8206249 32719995 WESLEY RETIREMENT SERVICES INC WESLEY COMMUNITY SERVICES INC 5508 NW 88TH STREET JOHNSTON IA 50131 203970256 HOME HEALTH CARE IA 501(C)(3) LINE 10 WESLEYLIFE 0 WESLEYLIFE 5508 NW 88TH STREET JOHNSTON IA 50131 300577845 SUPPORT WESLEY RETIREMENT SERVICES IA 501(C)(3) LINE 12C, III-FI N/A 0 WELLSPIRE LLC 5508 NW 88TH STREET JOHNSTON IA 50131 833724025 SENIOR HOUSING DEVELOPMENT IA N/A 0 0 0 1 0 1 0 0 0 0 0 0 0 1 1 1 1 1 1 0 0