2021-05-13T14:11:26-07:00 2020-12-31 990 2020-01-01 020519490 KENDAL AT HANOVER I KEND 6036438900 67 Cummings Road Hanover NH 03755 Brent Edgerton Assoc. Executive Director/CFO 6036437004 2021-05-10 1 11 0 AAL2 X 2020 2022-09-23 18:48:47Z Brent B Edgerton 67 Cummings Rd Hanover NH 03755 40164643 0 X www.kah.kendal.org X 1988 NH Kendal at Hanover is a not-for-profit continuing care retirement community characterized by mutual respect, integrity and a concern for each other's welfare that fosters the independence, vitality, health and security of older persons and in which residents and staff may exercise their talents in a supportive environment. Specifically, our mission states: "Together, transforming the experience of aging." 16 16 379 6 0 0 328019 399039 27587127 29035235 4564486 1096617 -568057 480248 31911575 31011139 80282 67092 0 0 13285178 14894571 0 0 0 14783546 14613155 28149006 29574818 3762569 1436321 175836550 187421102 125345835 131601708 50490715 55819394 X Kendal at Hanover is a not-for-profit continuing care retirement community characterized by mutual respect, integrity and a concern for each other's welfare that fosters the independence, vitality, health and security of older persons and in which residents and staff may exercise their talents in a supportive environment. Specifically, our mission states: "Together, transforming the experience of aging." 0 1 25132475 67092 29758209 Operation of a Continuing Care Retirement Community for 404 older adults consisting of 250 independent living residences, a community center, a health center and 106 licensed assisted living beds. On-site clinic provided primary care to 400 of our residents and the health center provided 24,018 days of care at various levels. Completed the second full year of a multi-year health center renovation and addition that will significantly enhance the environment in which care is provided. Maintained an independent living occupancy rate of 97.53%. Deficiency-free surveys for assisted living, skilled nursing, and home care with a 5-star CMS rating. 100% renewable energy provided via the EPA Green Power program. 0 56010 0 Education reimbursement given to 28 employees over the year for continuing education. 0 0 0 25132475 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 36 0 1 379 1 0 0 0 0 0 0 0 0 0 0 0 0 X 16 16 0 0 0 0 0 0 1 1 1 0 0 1 1 1 1 1 1 1 0 0 X X Kendal at Hanover I 6036437004 67 Cummings Road Hanover NH 03755 Beth Vettori CEO 50 0 X X 255777 0 11971 Brent B Edgerton Assoc Exec Director, CFO 50 0 X X 216484 0 26000 Jason Smith Director of Health & Wellness 50 0 X X 186671 0 18952 David Urso Director of Resident Services 50 0 X 139555 0 23676 David Watts Human Resources Director 50 0 X X 125605 0 12491 Jeffrey Roosevelt Director of Public Relations & Marketing 50 0 X 123041 0 6208 Dulany Bennett Board Member 1 0 X X 0 0 0 Frances C Brokaw Board Member 1 0 X 0 0 0 Nancy K Carroll Board Member 1 0 X 0 0 0 Lisa Celone Treasurer 1 0 X 0 0 0 Robert B Donin Board Chair 1 0 X 0 0 0 Scot Drysdale Secretary 1 0 X 0 0 0 John L Harrison Jr Board Member 1 0 X 0 0 0 John A Hochreiter Board Member 1 0 X X 0 0 0 Lawrence A Kelly Board Member 1 0 X 0 0 0 Ruth Lappin Board Member 1 0 X 0 0 0 Lisabeth Maloney Vice Chair 1 0 X 0 0 0 Nancy Marion Board Member 1 0 X 0 0 0 Bridget Mudge Board Member 1 0 X 0 0 0 Sherri Oberg Board Member 1 0 X 0 0 0 Jay Pierson Board Member 1 0 X 0 0 0 Margaret Rightmire Board Member 1 0 X 0 0 0 Sean Gorman Board Member 1 0 X 0 0 0 Mike Urnezis Board Member 1 0 X 0 0 0 1047133 0 99298 12 1 1 0 Engelberth Construction Inc 463 Mountain View Drive Colchester VT 05446 Construction 5861937 Interstate Electrical Services 70 Treble Cove Rd N Billerica MA 01862 Electrical 386416 Dartmouth Hitchcock One Medical Center Drive Lebanon NH 03766 Clinic Services 336728 Alliance Mechanial PO Box 666 Essex Junction VT 05453 Mechanical 294491 Shaker Hill Granite 17 Granite Place Enfield NH 03748 Counter Top 269710 12 0 0 0 0 0 399039 0 399039 Resident Fees - Apartment 623311 16862747 16862747 0 0 Resident Fees - Healthcare 623311 3862212 3862212 0 0 Amortization of Entry Fees 623311 8310276 8310276 0 0 0 0 0 0 29035235 772814 0 0 772814 0 0 0 0 0 0 0 0 57546 0 0 0 57546 0 57546 0 0 57546 9437702 39605 9098226 55278 339476 -15673 323803 0 0 323803 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Child Day Care 624410 180284 0 0 180284 Net Assets Released from Restriction 900099 151199 0 0 151199 Dining Services 722211 57547 57547 0 0 33672 33672 0 0 422702 31011139 29126454 0 1485646 0 0 67092 67092 0 0 0 0 467926 0 467926 0 0 0 0 0 11146982 9620336 1526646 0 600077 0 600077 0 1877625 1877150 475 0 801961 673618 128343 0 53173 8614 44559 0 18594 0 18594 0 55530 0 55530 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 12715 0 12715 0 239233 41449 197784 0 510365 0 510365 0 0 0 0 0 3922804 3922804 0 0 62403 46849 15554 0 0 0 0 0 76326 51596 24730 0 0 0 0 0 824808 0 824808 0 5050904 5050904 0 0 200782 200782 0 0 Repairs & Maintenance 477105 462868 14237 0 Food Costs 1121948 1121948 0 0 Staff Recruitment 26320 26320 0 0 Health Center Related & Other 1960145 1960145 0 0 0 0 0 0 29574818 25132475 4442343 0 639 1639 6324680 6784941 0 0 1659357 2074529 0 0 0 0 0 0 141806 429874 433290 510489 188304044 75738041 108965964 112566003 57395814 64152627 0 0 0 0 0 0 915000 901000 175836550 187421102 6443348 5745865 0 0 68852692 68128507 46978937 51058663 0 0 0 0 0 0 0 2154520 3070858 4514153 125345835 131601708 X 40068785 44072701 10421930 11746693 50490715 55819394 175836550 187421102 1436321 3892358 0 0 0 0 X 0 1 X 1 0 X 549065 456958 882014 328019 399039 2615095 29888836 27656214 28042240 30809875 28777299 145174464 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 30437901 28113172 28924254 31137894 29176338 147789559 0 0 0 6700 0 6700 0 0 0 0 0 0 0 0 0 6700 0 6700 147782859 622287 760058 1184994 1560280 803602 4931221 0 0 0 0 0 0 622287 760058 1184994 1560280 803602 4931221 0 0 0 0 0 0 0 0 0 0 0 0 31060188 28873230 30109248 32698174 29979940 152720780 0.96767 0.96615 0.03229 0.03381 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1601843 15349 0 0 0 0 1617192 1549535 52308 0 0 0 0 1601843 1477897 71638 0 0 0 0 1549535 1423221 54676 0 0 0 0 1477897 1388476 34745 0 0 0 0 1423221 0 1 0 0 0 0 3703792 3703792 0 135538742 63383916 72154826 0 0 0 0 0 19108677 12354125 6754552 0 29952833 0 29952833 112566003 0 Deposits from Prospective Residents 901000 Charitable Gift Annuity Interest Payable 55155 Fair Value of Interest Rate Swap 3557998 4514153 X 30238457 0 0 0 0 0 30238457 0 772682 772682 31011139 29574818 0 0 0 0 0 29574818 0 0 0 29574818 Schedule D, Part V, Line 4 Resident assistance, employee education, music performances, child care assistance: all endowment funds are for the support of Kendal at Hanover's mission. Schedule D, Part X, Line 2 Kendal at Hanover follows the guidance in the income tax standard regarding the recognition and measurement of uncertain tax positions. The guidance clarifies the accounting for uncertainty in income taxes recognized in an entity's financials statements. The guidance further prescribes recognition and measurement of tax provisions taken or expected to be taken on a tax return that are not certain to be realized. The application of this standard has no impact on Kendal at Hanover's financial statements. Schedule D, Part XI, Line 4b Restricted Investment Income $80,628. Contributions $399,039, Change in Value of Charitable Gift Annuity ($30,788), Realized gains on sale of investments $339,476 , loss on sale of asset ($15,673). 1 Tuition Assistance for Employees 28 56010 0 Cost Donation to Charitable Institutions 4 8800 2282 Cost Donated Food Schedule I, Part I, Line 2 Human Resources receives requests for tuition reimbursement from employees. These requests must be approved by the employee's supervisor, department director and the Executive Director. Policies are in place that dictate how much assistance is available per employee per year based on full or part-time status. An agreement is signed between Kendal at Hanover and the employee that the employee must receive at least a C or B+(for graduate work) to keep their reimbursement. Human Resources tracks this. X 0 0 0 0 0 0 0 0 0 Beth Vettori CEO 243806 0 0 0 0 0 11971 0 1462 0 257239 0 0 0 Brent B Edgerton Assoc Exec Director, CFO 190484 0 0 0 0 0 26000 0 9040 0 225524 0 0 0 Jason Smith Director of Health & Wellness 167719 0 0 0 0 0 18952 0 5947 0 192618 0 0 0 David Urso Director of Resident Services 115880 0 0 0 0 0 23676 0 11962 0 151518 0 0 0 Jeffrey Roosevelt Director of Public Relations & Marketing 116832 0 0 0 0 0 6208 0 1395 0 124435 0 0 0 David Watts Human Resources Director 113114 0 0 0 0 0 12491 0 0 0 125605 0 0 0 A NH Health & Education Facilities Authority 020279866 644614KN8 2004-10-12 15545000 secure lower cost of debt 0 0 0 B NH Health & Education Facilities Authority 020279866 6446143Q0 2016-04-28 18305000 Refunding 2004A & 2013 bonds, construction costs 0 0 0 C NH Health & Education Facilities Authority 020279866 2018-06-11 13087500 refunding Series 2008 Bonds 0 0 0 D NH Health & Education Facilities Authority 020279866 2018-06-11 25906000 renovation & expansion of Health Center 0 0 0 A 10140000 0 15545000 0 0 287441 0 0 0 3000500 12257059 0 2004 1 0 1 1 B 2510000 0 18305000 0 0 0 452707 0 0 16987396 0 864897 0 1 0 1 C 1186653 0 13323319 0 0 0 235819 0 0 13087500 0 0 2008 1 0 1 1 D 0 0 25906000 0 0 0 506649 0 0 0 16794058 9111942 0 0 0 1 A 0 1 1 1 0 0.0007 0.0021 0.0028 0 0 1 B 0 1 1 1 0 0.0007 0.0021 0.0028 0 0 1 C 0 1 1 1 0 0.0007 0.0021 0.0028 0 0 1 D 0 1 1 1 0 0.0007 0.0021 0.0028 0 0 1 A 0 0 0 0 1 0 0 0 1 B 0 0 0 0 0 0 0 0 1 C 0 0 0 0 0 0 0 0 1 D 0 0 0 0 0 0 0 0 1 A 1 B 1 C 1 Form 990, Part III, Line 3 The global COVID-19 Pandemic impacted several operational areas at Kendal at Hanover. Our Early Learning Center (childcare program) was relocated on our campus after a period of prolonged closure due to exposure concerns related to its proximity to our Health Center. This change in location resulted in a capacity of approximately three-quarters its budgeted enrollment. Dining Services closed in-person dining venues and transitioned to meal delivery for much of the year. Kendal at Hanover also established a security check point at our front entrance to monitor access to our campus and help ensure the healthy and well being of our community. In addition, our Health Center identified a group of seven rooms designated as a COVID-19 Unit in order to successfully isolate and treat potential resident cases of COVID-19. Form 990, Part VI, Section A, Line 7b The Kendal Corporation has to approve some changes to Kendal at Hanover's by-laws, additional debt and any resident contract changes as well as new Board members. Form 990, Part VI, Section B, Line 11b The 990 is prepared by the Controller and then reviewed by the Associate Executive Director/CFO. The 990 is also reviewed by Kendal at Hanover's auditing firm. It is then shared with the Executive Director/CEO and the Board of Directors for any feedback and/or comments prior to submission. Form 990, Part VI, Section B, Line 12c Our conflict of interest policy states: "Individuals shall not use their positions, or knowledge gained therefrom, in such a way that a conflict would arise between the interest of Kendal at Hanover and that of the individual or entity in which that individual has an interest. Any individual covered by this policy having a potential conflict of interest on any matter should disclose the conflict of interest, abstain from discussion and not use personal influence on the matter. The minutes of the meeting should reflect that a disclosure was made and any abstention from discussion. A full disclosure of all facts pertaining to any transaction that is subject to any doubt concerning the possible existence of a conflict of interest shall be made before consummating the transaction. A full disclosure shall be made annually, or when a potential for a conflict of interest presents itself, concerning the relevant interests, activities, services, investments and information. An annual disclosure shall be made by a survey at the direction of the Board Development Committee of the Board of Directors of Kendal at Hanover, or during the year as potential conflicts of interest or perceived conflicts of interest may occur. Relevant and material disclosures on conflicts of interest shall be appropriately noted in the audited financial statement of Kendal at Hanover on an annual basis." Form 990, Part VI, Section B, Line 15 It is Kendal at Hanover's Board of Directors' charge to evaluate the Executive Director on an annual basis and approve the compensation for that position. Executive Director compensation is evaluated annually by the Executive Committee of the Board in conjunction with the CEOs annual performance review. The market analysis includes analysis of the compensation paid to other CEOs in the Kendal system, compensation paid to other CEOs of CCRCs nationally, and compensation received by CEOs of other CCRCs in our region. The Executive Director evaluates top management and their compensation is adjusted annually. All other positions are evaluated annually based on Human Resource's compensation policy and procedures. A market analysis is done annually for all positions; the last one done in July 2020. Form 990, Part VI, Section C, Line 19 The annual Disclosure Statement is made available to all current residents and to interested parties on our website. This statement includes the conflict of interest disclosure. The 990 is available on our website, at our reception desk and in our library. The audited financial statements as well as interim financials are available in our library. The audited financials are also available on our website. Kendal at Oberlin 600 Kendal Drive Oberlin OH 440741900 341567246 Operate CCRC OH 501(c)(3) 9 N/A 0 Kendal at Ithaca 2230 North Triphammer Road Ithaca NY 14850 521787487 Operate CCRC NY 501(c)(3) 9 N/A 0 Barclay Friends 700 N Franklin St West Chester PA 19380 232088476 Operate CCRC PA 501(c)(3) 7 N/A 0 Kendal-Crosslands Communities PO Box 100 Kennett Square PA 19348 231906212 Operate CCRC PA 501(c)(3) 9 N/A 0 Kendal on Hudson 1010 Kendal Way Sleepy Hollow NY 10591 133971396 Operate CCRC NY 501(c)(3) 9 N/A 0 Kendal at Granville 2158 Columbus Road Granville OH 43023 311657346 Operate CCRC OH 501(c)(3) 9 N/A 0 Kendal at Home 27519 Detroit Road Westlake OH 44145 200548053 Operate Home Care OH 501(c)(3) 9 N/A 0 The Lathrop Communities 100 Bassett Brook Drive Easthampton MA 01027 042996627 Operate over 55 community MA 501(c)(3) 9 N/A 0 Lexington Retirement Community Inc dba Kendal at Lexington 160 Kendal Drive Lexington VA 24450 541795871 Operate CCRC VA 501(c)(3) 9 N/A 0 Kendal New York 1010 Kendal Way Sleepy Hollow NY 10591 061656576 Provide support services in operation of Kendal on Hudson & Kendal at Ithaca NY 501(c)(3) 11 Type I N/A 0 Collington Episcopal Lifecare Community Inc 10450 Lottsford Road Mitchellville MD 20721 521281156 Operate CCRC MD 501(c)(3) 9 N/A 0 Admiral on the Lake 929 West Foster Ave Chicago IL 60640 362171730 Operate CCRC IL 501(c)(3) 9 N/A 0 Chandler Hall Health Services Inc 90 Barclay Street Newton PA 18940 232365124 Operate CCRC PA 501(c)(3) 9 N/A 0 The Kendal Corporation 1107 East Baltimore Pike Kennett Square PA 19348 232688382 Develop & provide administration for CCRC's PA 501(c)(3) 11 Type III N/A 0 Kendal Charitable Funds 1107 East Baltimore Pike Kennett Square PA 19348 232626425 Manage charitable contributions to primarily benefit affiliates PA 501(c)(3) 7 N/A 0 Kendal Northern Ohio & KNO Community Outreach LLC dba Senior Independence 600 Kendal Drive Oberlin OH 44074 200547957 Supporting Organization for Kendal at Oberlin etal OH 501(c)(3) 9 N/A 0 Kendal Aging 300 Page Street San Francisco CA 94102 823361136 Provide support services in the operation of Kendal at Sonoma, A Zen-Inspired Community CA 501(c)(3) 11 Type I N/A 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 The Kendal Corporation p 2596961 Cost Kendal Charitable Funds c 5000