2020-03-07T10:32:07-06:00 2019-09-30 560817345 Turlington and Company LLP PO Box 1697 Lexington NC 272931697 990 2018-10-01 560754599 Friends Homes Inc FRIE 3362928187 925 New Garden Road Greensboro NC 27410 Tom Wright Finance Chair 3362928187 2020-02-27 1 Marcia W Henriksen P01259831 3362496856 66.57.15.218 2020-02-27 15:42:54 ES P 9257A89C9C66FB5E330B180F0A35C8123FF4B560 9257A89C9C66FB5E330B180F0A35C8123FF4B560 2018 2020-09-23 17:36:50Z Tom Wright 925 New Garden Road Greensboro NC 27410 42234755 0 X www.friendshomes.org X 1958 NC To establish and operate continuing care retirement communities in accordance with the principles of the Religious Society of Friends. These principles require that our communities provide, at a reasonable cost, an environment which fosters independence and a sense of wholeness, health, and security so that each resident may realize his or her full potential. In doing so we facilitate the basic Quaker principle that "there is God in every person," meaning that everyone has worth and value. Through continuous improvement and expansion, the organization will provide affordable services to the aged and support to the community at large. We accept the responsibility to promote consistent quality care while providing a home for our residents. 22 22 596 75 0 0 220437 255854 27974287 29590499 3378301 2325870 0 0 31573025 32172223 0 0 0 0 13894810 14095748 0 0 0 14233684 15557880 28128494 29653628 3444531 2518595 93008660 93443811 48428547 48208170 44580113 45235641 To provide nursing and residential care and other support services to the elderly. 0 0 26583480 29590499 There are 5 cottages, 355 apartments, 100 assisted care beds and 109 nursing beds. 26583480 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 90 0 596 1 0 0 0 0 0 0 0 0 0 0 X 22 22 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 X Lynn Hall 3362928187 925 New Garden Road Greensboro NC 27410 X Tom Wright Board member 0.25 X 0 0 0 Kathy Coe Board member 0.25 X 0 0 0 Terri Harris Chairman 0.25 X X 0 0 0 Carl Semmler Vice Chair 0.25 X X 0 0 0 Carolyn McPherson Secretary 0.25 X X 0 0 0 Dan Allen Treasurer 0.25 X X 0 0 0 Pete Cross Board member 0.25 X 0 0 0 Garland Granger Board member 0.25 X 0 0 0 Don Farlow Board member 0.25 X 0 0 0 Charlotte Hamlin Board member 0.25 X 0 0 0 Barbara Jones Board member 0.25 X 0 0 0 Hector McEachern Board member 0.25 X 0 0 0 Marla Allred Board member 0.25 X 0 0 0 Elwood Parker Board member 0.25 X 0 0 0 Ben Warren Board member 0.25 X 0 0 0 Brent McKinney Board member 0.25 X 0 0 0 Joy Reavis Board member 0.25 X 0 0 0 Annemarie Dloniak Board member 0.25 X 0 0 0 Bill McNeil Board member 0.25 X 0 0 0 Betty Rogers Board member 0.25 X 0 0 0 Judy Ritter Board member 0.25 X 0 0 0 Ed Phillips Board member 0.25 X 0 0 0 0 0 0 0 0 0 0 PHI Management Services LLC 2109 Sandy Ridge Road Colfax NC 27235 Management Services 1722157 Stewart & Conners Architects PLLC 3731 Larobe Drive Suite 100 Charlotte NC 28211 Architect Services 1238425 Legacy Health Care Services Inc PO BOX 743715 Atlanta GA 30384 Therapy Services 1052473 Universal Protection Service LLC PO BOX 828854 Philadelphia PA 19182 Security Services 283220 Deridder D Case 7004 Pawnee Road Greensboro NC 27410 Salon Services 176771 5 255854 255854 Resident services 623000 29590499 29590499 29590499 1634067 1634067 10754335 10055554 6978 698781 -6978 691803 691803 32172223 29590499 0 2325870 X 11569796 10517051 1052745 350721 274353 76368 1353548 1191122 162426 821683 733391 88292 11770 11770 71880 71880 106367 106367 176426 176426 1110524 977261 133263 2709092 2573637 135455 Repairs & maintenance 1661402 1659633 1769 Food Costs 1495198 1495198 Utilities 1354092 1297895 56197 Contract Medical Servic 1273088 1273088 5588041 4414425 1173616 29653628 26583480 3070148 0 1222725 1143803 1401513 1348031 153109 59978 160990 150475 88891301 40686584 45509958 48204717 41874288 40615847 2686077 1920960 93008660 93443811 2936237 3437481 15210989 16160634 28995000 27500000 872500 727500 413821 382555 48428547 48208170 X 44092144 44706014 422969 464627 65000 65000 44580113 45235641 93008660 93443811 X 2518595 -1445784 -417283 X 0 1 X 1 0 X 191344 330720 161419 220437 255854 1159774 25762378 26160208 26666868 27974287 29590499 136154240 25953722 26490928 26828287 28194724 29846353 137314014 0 0 0 137314014 914208 983297 1084105 1475189 1634067 6090866 914208 983297 1084105 1475189 1634067 6090866 26867930 27474225 27912392 29669913 31480420 143404880 0.95750 0.96270 0.04250 0.03730 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6142091 6142091 62002325 33737057 28265268 14054248 3892691 10161557 6692637 3056836 3635801 48204717 Occupancy deposits 238425 Interest rate swap 144130 382555 X 30309156 -1445784 -417283 -1863067 32172223 0 32172223 29547261 0 29547261 106367 106367 29653628 Part X, Line 2: The Organization has determined that it has no uncertain income tax positions as of September 30, 2019 and 2018. Also, the Organization does not anticipate any increase or decrease in unrecognized tax benefits during the next twelve months that would result in a material change in its financial position. The Organization's income tax returns for years ended after September 30, 2016 remain open for examination. Part XI, Line 2d - Other Adjustments: Unrealized loss on interest rate swap -417,283. A North Carolina Medical Care Commission 521309402 657902M41 2011-11-01 37745000 Refunding prior bond issue dated 10/16/03 0 0 0 A 10245000 37745000 1 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 0 1 1 Branch Bank & Trust 7.000000000000 0 0 0 0 0 A 0 Form 990, Part VI, Section A, line 3 The Board has contracted with PHI Management Services, LLC to provide executive level management and advisory services for the period May 1, 2016 to December 31, 2018. The Board signed an agreement to amend the original contract with PHI Management Services, LLC to extend the term of services from January 1, 2019 to December 31, 2023. Form 990, Part VI, Section B, line 11b The 990 is reviewed and approved by the Executive Committee and provided to the full Board prior to filing. Form 990, Part VI, Section B, line 12c Board members are asked annually to sign a conflict of interest statement and are asked to disclose any interests which may give rise to conflicts. Form 990, Part VI, Section C, line 19 The Organization is regulated by the Insurance Commission and the financial statements are part of the Disclosure required by them. Form 990, Part IX, line 24e Management fees: Program service expenses 621,426. Management and general expenses 621,426. Fundraising expenses 0. Total expenses 1,242,852. Office expenses: Program service expenses 924,780. Management and general expenses 0. Fundraising expenses 0. Total expenses 924,780. Contractual dietary: Program service expenses 844,369. Management and general expenses 0. Fundraising expenses 0. Total expenses 844,369. Miscellaneous: Program service expenses 598,998. Management and general expenses 185,222. Fundraising expenses 0. Total expenses 784,220. Prescription drugs, etc.: Program service expenses 528,653. Management and general expenses 0. Fundraising expenses 0. Total expenses 528,653. Charitable care: Program service expenses 487,812. Management and general expenses 0. Fundraising expenses 0. Total expenses 487,812. Insurance: Program service expenses 270,737. Management and general expenses 121,136. Fundraising expenses 0. Total expenses 391,873. Supplies: Program service expenses 49,607. Management and general expenses 210,989. Fundraising expenses 0. Total expenses 260,596. Property Taxes: Program service expenses 62,810. Management and general expenses 0. Fundraising expenses 0. Total expenses 62,810. Dues and Subscriptions: Program service expenses 4,688. Management and general expenses 34,843. Fundraising expenses 0. Total expenses 39,531. Amortization of bond issue costs: Program service expenses 20,545. Management and general expenses 0. Fundraising expenses 0. Total expenses 20,545. Form 990, Part XI, line 9: Unrealized loss on interest rate swap -417,283.