2021-10-22T13:50:38-05:00 2021-06-30 390758449 WIPFLI LLP 7733 FORSYTH BLVD SUITE 1200 ST LOUIS MO 63105 990 2020-07-01 371101586 WESTMINSTER VILLAGE INC WEST 3096636474 2025 EAST LINCOLN BLOOMINGTON IL 61701 CARL TEICHMAN PRESIDENT 3096636474 2021-10-19 1 CARL TEICHMAN 999009999 KARYN A NUNN P00958489 3148622070 2021-10-19 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z BARBARA NATHAN 2025 EAST LINCOLN BLOOMINGTON IL 61701 23158111 0 X WWW.WESTMINSTERVILLAGEINC.COM X 1980 IL CELEBRATING LIFE, OUR MISSION IS TO PROVIDE EXCELLENCE IN SENIOR LIVING THROUGH A CONTINUUM OF CARE AND SERVICES. 13 13 316 22 0 0 2216305 345988 17512982 17664372 323851 1155350 10219 13316 20063357 19179026 0 650 0 0 9713473 10840731 0 0 0 11501838 13003219 21215311 23844600 -1151954 -4665574 95851398 102608573 82253121 89620033 13598277 12988540 X CELEBRATING LIFE, OUR MISSION IS TO PROVIDE EXCELLENCE IN SENIOR LIVING THROUGH A CONTINUUM OF CARE AND SERVICES. 0 0 9300262 7639425 SKILLED NURSING OFFERS 96 LICENSED BEDS, 80 PRIVATE ROOMS AND 8 SEMI-PRIVATE ROOMS. SKILLED NURSING IS AVAILABLE FOR ALL RESIDENTS 24 HOURS A DAY. THE HEALTH CENTER PROVIDES BOTH SHORT-TERM, OFTEN POST-HOSPITAL, FOR RECUPERATION AND REHABILITATION, AS WELL AS LONG-TERM OR PERMANENT PLACEMENT. RESIDENTS RECEIVE THREE MEALS DAILY, HOUSEKEEPING SERVICES, ACTIVITY AND WELLNESS PROGRAMMING, ACCESS TO ALL COMMON AREAS AND PRIORITY ADMISSION TO WESTMINSTER APARTMENTS. THERAPY SERVICES, PODIATRY SERVICES, LABORATORY SERVICES AND COSMETOLOGY SERVICES ARE ALSO AVAILABLE ONSITE AT AN ADDITIONAL CHARGE. 7923317 650 6937825 INDEPENDENT LIVING OFFERS 222 UNITS HOUSED IN 3 APARTMENT BUILDINGS, WHICH ALL CONNECT TO THE CENTRAL COMMUNITY CENTER. RESIDENTS CAN CHOOSE FROM A VARIETY OF SPACIOUS FLOOR PLANS, INCLUDING STUDIO, ONE BEDROOM AND TWO BEDROOM UNITS. RESIDENTS ARE PROVIDED WITH ONE MEAL DAILY, BIWEEKLY LINEN LAUNDRY AND HOUSEKEEPING SERVICES, ALL UTILITIES EXCEPT TELEPHONE, EMERGENCY CALL SYSTEM, PRIORITY ADMISSION TO ASSISTED LIVING AND SKILLED NURSING UNITS AND ACCESS TO ALL PROGRAMS AND ACTIVITIES. 4216558 2616628 ASSISTED LIVING OFFERS 60 UNITS, AS WELL AS 12 MEMORY CARE UNITS, HOUSED IN 1 APARTMENT BUILDING, WHICH CONNECTS TO THE CENTRAL COMMUNITY CENTER. RESIDENTS CAN CHOOSE FROM A VARIETY OF SPACIOUS FLOOR PLANS, INCLUDING STUDIO, ONE BEDROOM AND TWO BEDROOM UNITS. RESIDENTS ARE PROVIDED WITH THREE MEALS DAILY, BIWEEKLY LINEN LAUNDRY AND HOUSEKEEPING SERVICES, WEEKLY LAUNDRY OF PERSONAL ITEMS, ALL UTILITIES EXCEPT TELEPHONE, EMERGENCY CALL SYSTEM, PRIORITY ADMISSION TO SKILLED NURSING AND ACCESS TO ALL PROGRAMS AND SERVICES. ADDITIONALLY, THREE LEVELS OF PERSONAL ASSISTANCE ARE AVAILABLE TO MEET A RESIDENT'S PERSONALIZED NEEDS, WHICH MAY INCLUDE BUT ARE NOT LIMITED TO MORNING AND EVENING CHECKS, MEAL REMINDERS OR ESCORTS, MEDICATION REMINDERS AND SUPERVISION AND ASSISTANCE WITH BATHING, DRESSING AND/OR GROOMING. 763698 411179 INDEPENDENT LIVING ALSO OFFERS 21 DUPLEX UNITS SITUATED ON THE NORTHEAST CORNER OF THE PROPERTY IN A NEIGHBORHOOD STYLE WITH A COMMUNITY CLUBHOUSE. THERE ARE THREE SIZE OFFERINGS, ALL WITH 2 BEDROOMS AND ATTACHED GARAGES. RESIDENTS ARE PROVIDED WITH ONE MEAL DAILY, ALL UTILITIES EXCEPT TELEPHONE, EMERGENCY CALL SYSTEM, EXTERIOR AND GROUNDS MAINTENANCE, PRIORITY ADMISSIONS TO WESTMINSTER APARTMENTS AND SKILLED NURSING AND ACCESS TO ALL PROGRAMS AND ACTIVITIES. 763698 411179 22203835 1 1 0 0 0 0 0 0 0 0 1 0 0 0 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 0 0 0 0 1 0 0 0 0 1 63 0 316 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 0 0 IL X KATE WILLIAMS 3096636474 2025 EAST LINCOLN BLOOMINGTON IL 61701 JAY REECE BOARD MEMBER 1.00 X 0 0 0 DAVE RUTLEDGE IMMEDIATE PAST PRESIDENT 1.50 X X 0 0 0 JIM BROACH SECRETARY 1.50 X X 0 0 0 SUSAN HURLIMAN BOARD MEMBER 1.00 X 0 0 0 JOHN GORDON TREASURER 1.50 X X 0 0 0 SARAH CURTIS VICE PRESIDENT 1.50 X X 0 0 0 CARL TEICHMAN PRESIDENT 1.50 X X 0 0 0 ROGER HUNT BOARD MEMBER 1.00 X 0 0 0 EMILY BELL BOARD MEMBER 1.00 X 0 0 0 CHRIS BUETTNER BOARD MEMBER 1.00 X 0 0 0 DUANE FARRINGTON BOARD MEMBER 1.00 X 0 0 0 KELLI HILL BOARD MEMBER 1.00 X 0 0 0 KELVIN SCHILL BOARD MEMBER 1.00 X 0 0 0 BARBARA NATHAN CHIEF EXECUTIVE OFFICER 40.00 X 205574 0 12270 KATE WILLIAMS CHIEF FINANCIAL OFFICER 40.00 X 126483 0 5059 MATTHEW RIEHLE CHIEF OPERATING OFFICER 40.00 X 161998 0 8530 494055 0 25859 3 0 1 0 PJ HOERR 117 MERLE LANE NORMAL IL 61761 CONSTRUCTION OF EXPANSION PROJECT 15183895 HEALTHPRO HERITAGE PO BOX 69268 BALTIMORE MD 21264 CONTRACT THERAPY SERVICES 469516 CLEARPATH CONNECTIONS 1251 EAST WISCONSIN AVE SUITE B PEWAUKEE WI 53072 CURRENT AND NEW CONSTRUCTION SARA SYSTEM 423001 KDI COMMERCIAL INTERIORS AND FURNISHINGS 427 N KIRK ROAD STE 101 GENEVA IL 60134 INTERIOR DESIGN SERVICES AND FURNISHINGS 265220 HINES BUILDING SUPPLY 908 WHITE OAK ROAD BLOOMINGTON IL 61701 RENOVATION, REPAIR AND MAINTENANCE - ELE 247915 5 276254 69734 345988 HEALTH CENTER REVENUES 623000 7645339 7645339 INDEPENDENT RESIDENTIAL REVENUE 623000 6433865 6433865 ASSISTED LIVING REVENUES 623000 2636170 2636170 LIFE OCCUPANCY & MEMBERSHIP FEES 623000 639523 639523 INDEPENDENT LIVING AT WILLOWS REV 623000 309475 309475 17664372 562721 562721 318858 280249 38609 38609 38609 4291465 3664814 34022 626651 -34022 592629 -34022 626651 LOSS ON CONTRACT CHANGE OF WILLOW 623000 -25293 -25293 -25293 19179026 17605057 0 1227981 650 650 341952 170976 170976 8717963 7767319 950644 191174 167507 23667 930091 813763 116328 659551 577899 81652 17704 17704 38876 38876 64390 64390 589816 589816 110707 39543 71164 26763 22674 4089 283672 281061 2611 15288 15288 585 585 2653823 2627785 26038 4122481 4083466 39015 563716 558304 5412 TAXES & LICENSES 1145805 1145805 FOOD COSTS 911765 911765 RESIDENT UTILITIES 614154 614154 MEDICAL & OTHER SUPPLIE 589174 589174 1254500 1241589 12911 23844600 22203835 1640765 0 2454971 1847579 537927 569875 42678 62622 166955 169048 109701613 29767276 75279884 79934337 12846265 15836771 1123284 1064825 3399434 3123516 95851398 102608573 2244198 2504596 3866258 4725034 58234881 67250693 17907784 15139710 82253121 89620033 X 13528721 12919014 69556 69526 13598277 12988540 95851398 102608573 -4665574 4055837 0 X X 0 1 X 1 0 X 1164356 147226 98601 2216305 345988 3972476 14365346 14874189 15984666 17512982 17664372 80401555 15529702 15021415 16083267 19729287 18010360 84374031 0 10003 10003 10003 10003 84364028 223646 363623 718759 983553 881579 3171160 223646 363623 718759 983553 881579 3171160 15753348 15385038 16802026 20712840 18891939 87545191 0.96370 0.97260 0.03620 0.02730 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2036638 2036638 56330623 18652746 37677877 41164734 8211932 32952802 10169618 2902598 7267020 79934337 REFUNDABLE OCCUPANCY FEES 10804745 SECURITY DEPOSITS 1083864 INTEREST RATE SWAP LIABILITIES 2987680 CONSTRUCTION PAYABLE 263421 15139710 X PART X, LINE 2: THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THAT GUIDANCE, THE ORGANIZATION MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES BASED ON THE TECHNICAL MERITS OF THE POSITION. EXAMPLES OF TAX POSITIONS INCLUDE THE TAX-EXEMPT STATUS OF THE ORGANIZATION AND VARIOUS POSITIONS RELATED TO THE POTENTIAL SOURCES OF UNRELATED BUSINESS TAXABLE INCOME. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THERE WERE NO UNRECOGNIZED TAX BENEFITS IDENTIFIED OR RECORDED AS ASSETS OR LIABILITIES FOR THE YEARS ENDED JUNE 30, 2021 AND 2020. THE ORGANIZATION'S INFORMATION RETURNS ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR 3 YEARS AFTER THEY WERE FILED. INFORMATION RETURNS FILED FOR FISCAL YEARS PRIOR TO THE YEAR ENDED JUNE 30, 2018 ARE NO LONGER SUBJECT TO EXAMINATION. X X 0 0 0 0 0 0 0 0 0 BARBARA NATHAN CHIEF EXECUTIVE OFFICER 205574 0 0 0 0 0 8344 0 3926 0 217844 0 0 0 MATTHEW RIEHLE CHIEF OPERATING OFFICER 161998 0 0 0 0 0 6559 0 1971 0 170528 0 0 0 A ILLINOIS FINANCE AUTHORITY (2018A) 861091967 45204ER83 2018-12-20 39670000 REVENUE BOND TO FUND CONSTRUCTION OF EXPANSION PROJECT 0 0 0 B ILLINOIS FINANCE AUTHORITY (2018B) 861091967 45204ER83 2018-12-20 23895000 REVENUE BOND TO FUND CONSTRUCTION OF EXPANSION PROJECT 0 0 0 C ILLINOIS FINANCE AUTHORITY (2018C) 861091967 45204ER83 2018-12-20 5000000 REVENUE BOND TO FUND CONSTRUCTION OF EXPANSION PROJECT 0 0 0 A 39670000 2585639 883801 36200560 1 0 1 1 B 23391375 322285 270558 22798532 0 0 0 1 C 4894617 15027 56614 4822977 0 0 0 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0 0 1 A 0 0 0 0 1 1 FIRST MIDWEST BANK 2.500000000000 0 0 0 0 1 B 0 0 0 0 1 1 FIRST MIDWEST BANK 7.000000000000 0 0 0 0 1 C 0 0 0 0 1 1 FIRST MIDWEST BANK 7.000000000000 0 0 0 0 1 A 1 B 1 C 1 PART I BOND ISSUANCES WITHIN SERIES 2018A, 2018B, AND 2018C WERE PRESENTED ON THE SAME FORM 8038, BUT WERE PRESENTED SEPARATELY IN A SCHEDULE TO FORM 8038. PART I IS PRESENTED AS THE SCHEDULE TO FORM 8038 WAS PRESENTED. PART II LINE 3 - 2018B THE PROCEEDS OF THE BOND ISSUE AREN'T IDENTICAL TO THE ISSUE PRICE LISTED IN PART I BECAUSE NOT ALL OF THE PROCEEDS HAVE BEEN DRAWN UPON FOR CONSTRUCTION AS OF YEAR-END. PART II LINE 3 - 2018C THE PROCEEDS OF THE BOND ISSUE AREN'T IDENTICAL TO THE ISSUE PRICE LISTED IN PART I BECAUSE NOT ALL OF THE PROCEEDS HAVE BEEN DRAWN UPON FOR CONSTRUCTION AS OF YEAR-END. FORM 990, PART VI, SECTION B, LINE 11B ALL BOARD MEMBERS ARE PROVIDED A COPY OF THE FORM 990 TO REVIEW PRIOR TO FILING IT WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C 1.SPECIFIC DISCLOSURE: MEMBERS OF THE WV, INC. BOARD, ADMINISTRATION AND MANAGEMENT STAFF SHALL DISCLOSE FULLY THE PRECISE NATURE OF THEIR INTEREST OF INVOLVEMENT WHEN PARTICIPATING IN ANY TRANSACTION OF THE ORGANIZATION IN WHICH ANOTHER PARTY TO THE TRANSACTION INCLUDES: A.HIMSELF OR HERSELF; B.A MEMBER OF THE FAMILY (SPOUSE, PARENTS, BROTHERS, SISTERS, CHILDREN, IN-LAWS, OR ANY OTHER IMMEDIATE RELATIVE); OR C.AN ORGANIZATION WITH WHICH THE MEMBER OF THE WV, INC. BOARD, ADMINISTRATION OR MANAGEMENT STAFF OR HIS OR HER FAMILY IS AFFILIATED. D.DISCLOSURE SHALL BE MADE AT THE FIRST KNOWLEDGE OF A TRANSACTION. 2.GENERAL DISCLOSURE: MEMBERS OF THE WV, INC. BOARD, ADMINISTRATION AND MANAGEMENT STAFF WILL DISCLOSE ALL RELATIONSHIPS AND BUSINESS AFFILIATIONS WHICH MAY NOW, OR IN THE FUTURE, CONFLICT WITH THE INTERESTS OF THE ORGANIZATION OR BRING PERSONAL GAIN TO THEM OR THEIR FAMILY OR BUSINESS. IF ANY MEMBER OF THE WV, INC. BOARD, ADMINISTRATION OR MANAGEMENT STAFF OR A MEMBER OF HIS OR HER FAMILY ACTS IN ONE OR MORE OF THE FOLLOWING CAPACITIES, DISCLOSURE MUST BE MADE: A.IS AN OFFICER, DIRECTOR, TRUSTEE, PARTNER, EMPLOYEE, OR AGENT OF AN ORGANIZATION WITH WHICH OUR ORGANIZATION HAS BUSINESS DEALINGS; B.IS EITHER THE ACTUAL OR BENEFICIAL OWNER OF MORE THAN ONE PERCENT OF THE VOTING STOCK OR CONTROLLING INTEREST OF AN ORGANIZATION WITH WHICH OUR ORGANIZATION HAS BUSINESS DEALINGS; C.IS A CONSULTANT FOR SUCH AN ORGANIZATION; OR HAS ANY OTHER DIRECT OR INDIRECT DEALINGS WITH AN INDIVIDUAL OR ORGANIZATION FROM WHICH HE OR SHE IS MATERIALLY BENEFITTING (E.G., THROUGH THE RECEIPT, DIRECTLY OR INDIRECTLY, OR CASH, GIFTS, OR OTHER PROPERTY). 3.REPORTING OF DISCLOSURES: ALL DISCLOSURES AS THEY APPLY TO STAFF WILL BE HANDLED BY THE EXECUTIVE DIRECTOR IN CONCURRENCE WITH THE WV, INC. BOARD PRESIDENT. ALL DISCLOSURES AS THEY APPLY TO MEMBERS OF THE WV, INC. BOARD SHALL BE LISTED AT THE END OF THIS DOCUMENT AND WILL BE REFERRED TO THE PRESIDENT OF THE BOARD. INFORMATION DISCLOSED TO THE PRESIDENT OF THE BOARD OR THE EXECUTIVE DIRECTOR WILL BE HELD IN CONFIDENCE, EXCEPT WHEN THE ORGANIZATION'S BEST INTERESTS WOULD BE SERVED BY BRINGING THE INFORMATION TO THE ATTENTION OF THE EXECUTIVE COMMITTEE OR THE BOARD. A. EACH MEMBER OF THE WV, INC. BOARD, ADMINISTRATION AND MANAGEMENT STAFF WILL COMPLETE AND UPDATE ANY DISCLOSURE OR SUSPECTED DISCLOSURE ANNUALLY. 4.FAILURE TO DISCLOSE: EACH MEMBER OF THE WV, INC. BOARD, ADMINISTRATION AND MANAGEMENT STAFF WHO IS REQUESTED TO FILE THIS CONFLICT OF INTEREST STATEMENT SHOULD RECOGNIZE THAT SUCH FILING IS A REQUIREMENT FOR CONTINUED AFFILIATION OR EMPLOYMENT WITH OUR ORGANIZATION AND, FURTHER, THAT FAILURE TO KNOWINGLY DISCLOSE A POTENTIAL CONFLICT OF INTEREST COULD RESULT IN DISAFFILIATION OR TERMINATION OF EMPLOYMENT. A.MEMBERS OF THE WV, INC. BOARD, ADMINISTRATION AND MANAGEMENT STAFF WHO HAVE A CONFLICT OF INTEREST IN ANY MATTER SHALL REFRAIN FROM PARTICIPATING IN THE CONSIDERATION OF THE PROPOSED TRANSACTION. THE PERSON OR PERSONS INVOLVED WILL NOT VOTE ON SUCH MATTERS. HOWEVER, FOR SPECIAL REASONS, THE BOARD MAY REQUEST INFORMATION OR INTERPRETATION FROM THE PERSON OR PERSONS INVOLVED. B.WV, INC. BOARD, ADMINISTRATION AND MANAGEMENT STAFF SHALL NOT ACCEPT GIFTS, FAVORS OR HOSPITALITY THAT MAY INFLUENCE THEIR DECISION MAKING OR ACTIONS AFFECTING THE VILLAGE EXCEPT FOR NORMAL BUSINESS LUNCHES, ENTERTAINMENT OR COMMEMORATIONS. C.ALTHOUGH IT IS RECOGNIZED THAT A DEGREE OF DUALITY OF INTEREST MAY EXIST FROM TIME TO TIME, AN EFFORT SHOULD BE MADE TO MINIMIZE SUCH DUALITY AND SUCH DUALITY SHALL NOT BE PERMITTED TO ADVERSELY INFLUENCE THE DECISION MAKING PROCESS. 5.HIRING OF FAMILY MEMBERS OF WV, INC. BOARD, ADMINISTRATION AND MANAGEMENT STAFF: A.FAMILY MEMBERS OF WV, INC. BOARD, ADMINISTRATION AND MANAGEMENT STAFF WILL NOT BE HIRED WITHOUT BOARD APPROVAL. THIS INCLUDES RELATIVES WITH KINSHIP BY BLOOD, ADOPTION OR MARRIAGE. FORM 990, PART VI, SECTION B, LINE 15A EXECUTIVE COMMITTEE RECEIVES A SELF-EVALUATION OF EXECUTIVE DIRECTOR AND SOLICITS THE REVIEW FROM ALL BOARD MEMBERS. SALARY SURVEY DATA FROM H.C.S. IS THEN USED FOR COMPARABILITY DATA. THE FULL BOARD THEN ACTS ON THE RECOMMENDATION FOR NEXT YEAR SALARY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND ANNUAL FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990 PART XII LINE 2C THERE WAS NO CHANGE IN THERE WAS NO CHANGE IN THE AUDIT OVERSIGHT PROCESS OR AUDITOR SELECTION PROCESS DURING THE YEAR. WV CORNER HOLDINGS LLC 2025 E LINCOLN STREET BLOOMINGTON IL 61701 812226794 PROGRAM RENTAL REAL ESTATE IL 318858 3376245 WESTMINSTER VILLAGE INC