2020-11-16T13:07:45-06:00 2019-12-31 381964450 WILLIS & JURASEK PC CPAS 4100 SPRING ARBOR ROAD JACKSON MI 492019306 990 2019-01-01 383258132 SILVER MAPLES OF CHELSEA SILV 7344754111 100 SILVER MAPLES DRIVE CHELSEA MI 481181186 JULIE A DEPPNER PRESIDENT AND CEO 7344754111 2020-11-16 true NANCY L BARTON CPA P00421013 5177888660 2020-11-16 96.80.216.153 2020-11-16 13:07:45 CS P A0505727743E2C8D0350BC88B9E2E90D2DCC0503 5DCFFEB3C71DE610673F1ECB8AC46155231FE949 2019 2021-01-29 14:40:06Z JULIE A DEPPNER 100 SILVER MAPLES DRIVE CHELSEA MI 481181186 14677420 false X WWW.SILVERMAPLES.ORG X 1995 MI SILVER MAPLES OF CHELSEA RETIREMENT NEIGHBORHOOD IS A VIBRANT COMMUNITY THAT EXCELS AT CREATING AND SUPPORTING A POSITIVE AGING EXPERIENCE. SILVER MAPLES OF CHELSEA WILL PROMOTE ENRICHING EXPERIENCES TO INSPIRE PERSONAL GROWTH, CREATE OPPORTUNITIES TO DEVELOP MEANINGFUL RELATIONSHIPS AMONG FRIENDS, FAMILY AND COMMUNITY, AND PROVIDE A HEALTHY, SECURE AND SUPPORTIVE PLACE TO CALL HOME. OUR MISSION AND VISION IS CLEARLY ALIGNED WITH OUR SPONSORS, THE 5 HEALTHY TOWNS ORGANIZATION AND UNITED METHODIST RETIREMENT COMMUNITIES (UMRC). THE MISSION OF THE 5 HEALTHY TOWNS IS TO CULTIVATE IMPROVEMENTS IN PERSONAL AND COMMUNITY WELLNESS. UNITED METHODIST RETIREMENT COMMUNITIES PROMOTES THE WELLNESS, DIGNITY, AND INDEPENDENCE OF OLDER ADULTS BY PROVIDING HIGH-QUALITY AND INNOVATIVE RESIDENTIAL AND SUPPORTIVE SERVICES. 9 8 188 25 0 69010 62197 8113798 8308107 821714 544712 0 9004522 8915016 0 0 3331996 3557089 0 7329 3996714 4030294 7328710 7587383 1675812 1327633 35093113 37290218 31533269 30564883 3559844 6725335 X SILVER MAPLES OF CHELSEA RETIREMENT NEIGHBORHOOD IS A VIBRANT COMMUNITY THAT EXCELS AT CREATING AND SUPPORTING A POSITIVE AGING EXPERIENCE. SILVER MAPLES OF CHELSEA WILL PROMOTE ENRICHING EXPERIENCES TO INSPIRE PERSONAL GROWTH, CREATE OPPORTUNITIES TO DEVELOP MEANINGFUL RELATIONSHIPS AMONG FRIENDS, FAMILY AND COMMUNITY, AND PROVIDE A HEALTHY, SECURE AND SUPPORTIVE PLACE TO CALL HOME. OUR MISSION AND VISION IS CLEARLY ALIGNED WITH OUR SPONSORS, THE 5 HEALTHY TOWNS ORGANIZATION AND UNITED METHODIST RETIREMENT COMMUNITIES (UMRC). THE MISSION OF THE 5 HEALTHY TOWNS IS TO CULTIVATE IMPROVEMENTS IN PERSONAL AND COMMUNITY WELLNESS. UNITED METHODIST RETIREMENT COMMUNITIES PROMOTES THE WELLNESS, DIGNITY, AND INDEPENDENCE OF OLDER ADULTS BY PROVIDING HIGH-QUALITY AND INNOVATIVE RESIDENTIAL AND SUPPORTIVE SERVICES. false false 6726173 8308107 VILLAS & INDEPENDENT LIVING - PROVIDE HOUSING, MEAL PLANS, TRANSPORTATION, ACTIVITIES, AND USE OF ALL COMMON AREA FACILITIES SUCH AS EXERCISE ROOMS AND WORKSHOP. ASSISTED LIVING - PROVIDE HOUSING, DIRECT CARE, THREE MEALS AND SNACK DAILY, TRANSPORTATION, AND ACTIVITIES. THE SILVER LINING FUND IS A PROGRAM CONCEIVED BY AND FOR RESIDENTS OF SILVER MAPLES TO PROVIDE FINANCIAL ASSISTANCE TO ANY RESIDENT WHO OUTLIVES HIS OR HER FINANCIAL ASSETS, ENSURING THEY ALWAYS HAVE A HOME AT SILVER MAPLES. EACH DONATION TO THE SILVER LINING FUND HAS A DIRECT IMPACT ON AN INDIVIDUAL IN NEED. SILVER MAPLES HOSTS MANY EVENTS FOR THE CHELSEA COMMUNITY. THE MONTHLY KALEIDOSCOPE CONCERT SERIES IS ORGANIZED BY THE SILVER MAPLES COMMUNITY SERVICE GROUP. WE ARE ONE OF THE LARGEST SUPPORTERS OF THE CHELSEA SENIOR CENTER AND PARTICIPATED IN THEIR FESTIVAL OF TABLES EVENT. SILVER MAPLES HOSTS AN ANNUAL EVENING OF CIVIL DISCOURSE FOR COMMUNITY MEMBERS AND ELECTED OFFICIALS. WE HOST SEVERAL CHELSEA ARTIST GUILD AND ANN ARBOR ARTIST GUILD ART DISPLAYS, AS WELL AS MANY CHELSEA ROTARY CLUB AND CHELSEA CHAMBER EVENTS. SILVER MAPLES ALSO PARTICIPATES ANNUALLY IN THE CHELSEA HEART AND SOLE RACE, THE ANNUAL WALK FOR ALZHEIMER'S, AND THE ANNUAL RUN FOR THE ROLLS. WE ALSO PARTICIPATE AND SUPPORT THE ANNUAL CHELSEA CHAMBER OF COMMERCE GOLF OUTING, CHELSEA ROTARY GOLF OUTING, THE ST. LOUIS CENTER GOLF OUTING, AND THE LOCAL SRSLY COALITION (WHICH IS A TEAM OF YOUTH AND ADULTS WORKING TOGETHER TO PROMOTE POSITIVE CHOICES AND PREVENT YOUTH SUBSTANCE ABUSE), ALONG WITH THE ST. LOUIS JOSEPH MERCY HOSPITAL'S ANNUAL CAMPAIGNS. WE HAVE RESIDENTS THAT ARE MEMBERS OF SERVICE ORGANIZATIONS, THE CHELSEA GARDEN CLUB, THE FARM TO TABLE EVENT IN CHELSEA, THE CHELSEA SENIOR CENTER, AND THE CHELSEA ARTISTS GUILD. SEVERAL RESIDENTS ALSO PARTICIPATE IN THE EMERSON SCHOOL MENTORSHIP PROGRAM AND SERVE AS READERS FOR NORTH CREEK ELEMENTARY SCHOOL. THE CEO/EXECUTIVE DIRECTOR OF SILVER MAPLES IS AN ACTIVE MEMBER OF THE ROTARY CLUB OF CHELSEA AND SERVES ON THE BOARD OF THE CHELSEA CHAMBER OF COMMERCE. SHE ALSO SERVES ON THE CHELSEA 2030 COMMITTEE. 6726173 true true false false false false false false true false true false false false true true true false false false false false false false false false false false false true true false false false false false false false false false false false false false false false false false false false true 28 0 188 true false false false false false false false false X 9 8 false true false false true true true true true false false true true true true true true true true false MI X MARK ROYCE 7344754111 100 SILVER MAPLES DRIVE CHELSEA MI 48118 JULIE A DEPPNER PRESIDENT AN 40.00 X X 171259 0 6758 JAMES ALFORD DIRECTOR X 0 0 0 KASIE COUSINO DIRECTOR X 0 0 0 SALLY DEVOL BOARD CHAIR X X 0 0 0 STEVE FETYKO DIRECTOR X 0 0 0 MICHAEL FRITZ DIRECTOR X 0 0 0 AMY HEYDLAUFF DIRECTOR X 0 0 0 DICK LUNDY DIRECTOR X 0 0 0 JOHN THORHAUER DIRECTOR X 0 0 0 GARY ZENZ SECRETARY/TR X X 0 0 0 171259 6758 1 false true false GORDON FOOD SERVICE PO BOX 88029 CHICAGO IL 606801029 FOOD VENDOR 307093 WORKSIGHTED INC 275 HOOVER BOULEVARD HOLLAND MI 49243 IT SUPPORT 173645 ORANGE EGG ADVERTISING INC 5165 HELLNER ROAD SUITE 200 ANN ARBOR MI 48105 ADVERTISING 170854 RIVERVIEW SERVICE INC 678 NW SUITE 003 GRAND RAPIDS MI 49504 SECURITY SYSTEM 160377 MOBILITY TRANSPORTATION SERVICES 42000 KOPPERNICK SUITE A-3 CANTON MI 48187 BUS RENOVATIONS 155339 8 62197 62197 RESIDENT SERVICE REVENUE 7922306 7922306 AMORT. OF DEFERRED REVENUE 385801 385801 8308107 443111 443111 5864005 5762404 101601 101601 101601 8915016 8308107 544712 171259 171259 2753555 2555123 198432 63966 55746 8220 347721 306406 41315 220588 192655 27933 3672 3672 119331 119331 84098 84098 231791 197553 34238 173675 166346 7329 17948 12321 5627 31561 1820 29741 347932 324113 23819 19587 12670 6917 357978 357978 1321834 1321834 84181 84181 FOOD 376722 376722 REAL ESTATE TAXES 305965 305965 REPAIRS AND MAINTENANCE 219207 169270 49937 OPERATING SUPPLIES 165228 165228 169584 120242 49342 7587383 6726173 853881 7329 213148 267695 3793025 3425638 1500 1500 30619 7728 220485 164090 17280 22447 127865 121122 39422462 21071536 18303520 18350926 12175342 14750726 210329 178346 35093113 37290218 445001 479619 1773479 1677009 12950000 12435000 135800 204000 16228989 15769255 31533269 30564883 X 2883448 5875183 676396 850152 3559844 6725335 35093113 37290218 X 1327633 1929557 -91699 X false true X true false X 35664 81164 365480 69010 62197 613515 7391080 7452138 8166740 8113798 8308107 39431863 7426744 7533302 8532220 8182808 8370304 40045378 134686 11556 11970 47001 50243 255456 134686 11556 11970 47001 50243 255456 39789922 418477 342442 393119 451230 443111 2048379 418477 342442 393119 451230 443111 2048379 7845221 7875744 8925339 8634038 8813415 42093757 0.94530 0.93770 0.05000 0.05000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true X 651562 651562 26975656 11379006 15596650 7983367 7058223 925144 3811877 2634307 1177570 18350926 REFUNDABLE ENTRANCE FEES 15675302 INTEREST RATE SWAP 93953 15769255 X 10844573 1929557 1929557 8915016 8915016 7679082 7679082 -91699 -91699 7587383 SCHEDULE D, PAGE 2, PART IV, LINE 2B SILVER MAPLES OF CHELSEA MAINTAINS A SEPARATE BANK ACCOUNT AT CHELSEA STATE BANK FOR DEPOSITS FROM PROSPECTIVE RESIDENTS WHO WISH TO BE ADMITTED TO THE WAIT LIST OR WHO ARE MAKING THEIR LIFE LEASE PAYMENTS PRIOR TO MOVING INTO SILVER MAPLES. AFTER BECOMING A RESIDENT OF SILVER MAPLES, AND AFTER EXPIRATION OF THE SEVEN-DAY RESCISSION PERIOD, SILVER MAPLES, AT ITS SOLE DISCRETION, MAY TRANSFER ANY ENTRANCE FEES PAID BY A MEMBER FROM THE INITIAL ESCROW ACCOUNT TO THE OPERATING ACCOUNT OF SILVER MAPLES. SCHEDULE D, PAGE 3, PART X SILVER MAPLES OF CHELSEA HAS BEEN GRANTED AN EXEMPTION FROM THE PAYMENT OF INCOME TAXES AS PROVIDED UNDER INTERNAL REVENUE CODE SECTION 501(C)(3). PROFESSIONAL STANDARDS REQUIRE AN ANALYSIS OF UNCERTAIN TAX POSITIONS FOR THE PURPOSE OF DETERMINING WHETHER BENEFITS ASSOCIATED WITH THOSE POSITIONS MAY BE RECOGNIZED FOR FINANCIAL STATEMENT PURPOSES. BASED UPON THIS ANALYSIS, NO AMOUNTS HAVE BEEN IDENTIFIED, OR RECORDED, AS UNCERTAIN TAX POSITIONS. SCHEDULE D, PAGE 4, PART XII, LINE 4B LOSS ON INTEREST RATE SWAP -91,699 X X X false false false false false false false false false JULIE A DEPPNER PRESIDENT AND CEO 150000 13500 7759 6400 358 178017 A CHELSEA ECONOMIC DEVELOPMENT CORP 163347BH9 2013-06-29 5700000 REFUNDING OF 2006 BONDS false false false B CHELSEA ECONOMIC DEVELOPMENT CORP CHELSEA ECONOMIC DEVELOPMENT CORP 163347BH9 2013-06-29 13300000 REFUNDING OF 2006 BONDS false false false A 4580000 5700000 false true true true B 1470000 13300000 false true true true A false false false false false false false B false false false false false false false A false false false false true false false false false B false false false false true false false false false A false B false PURPOSE OF ISSUE DESCRIPTION CHELSEA ECONOMIC DEVELOPMENT CORP. REFUNDING OF 2006 BONDS PURPOSE OF ISSUE DESCRIPTION CHELSEA ECONOMIC DEVELOPMENT CORP. REFUNDING OF 2006 BONDS FORM 990 - ORGANIZATION'S MISSION SILVER MAPLES OF CHELSEA RETIREMENT NEIGHBORHOOD IS A VIBRANT COMMUNITY THAT EXCELS AT CREATING AND SUPPORTING A POSITIVE AGING EXPERIENCE. SILVER MAPLES OF CHELSEA WILL PROMOTE ENRICHING EXPERIENCES TO INSPIRE PERSONAL GROWTH, CREATE OPPORTUNITIES TO DEVELOP MEANINGFUL RELATIONSHIPS AMONG FRIENDS, FAMILY AND COMMUNITY, AND PROVIDE A HEALTHY, SECURE AND SUPPORTIVE PLACE TO CALL HOME. OUR MISSION AND VISION IS CLEARLY ALIGNED WITH OUR SPONSORS, THE 5 HEALTHY TOWNS ORGANIZATION AND UNITED METHODIST RETIREMENT COMMUNITIES (UMRC). THE MISSION OF THE 5 HEALTHY TOWNS IS TO CULTIVATE IMPROVEMENTS IN PERSONAL AND COMMUNITY WELLNESS. UNITED METHODIST RETIREMENT COMMUNITIES PROMOTES THE WELLNESS, DIGNITY, AND INDEPENDENCE OF OLDER ADULTS BY PROVIDING HIGH-QUALITY AND INNOVATIVE RESIDENTIAL AND SUPPORTIVE SERVICES. FORM 990, PAGE 2, PART III, LINE 4A VILLAS & INDEPENDENT LIVING - PROVIDE HOUSING, MEAL PLANS, TRANSPORTATION, ACTIVITIES, AND USE OF ALL COMMON AREA FACILITIES SUCH AS EXERCISE ROOMS AND WORKSHOP. ASSISTED LIVING - PROVIDE HOUSING, DIRECT CARE, THREE MEALS AND SNACK DAILY, TRANSPORTATION, AND ACTIVITIES. THE SILVER LINING FUND IS A PROGRAM CONCEIVED BY AND FOR RESIDENTS OF SILVER MAPLES TO PROVIDE FINANCIAL ASSISTANCE TO ANY RESIDENT WHO OUTLIVES HIS OR HER FINANCIAL ASSETS, ENSURING THEY ALWAYS HAVE A HOME AT SILVER MAPLES. EACH DONATION TO THE SILVER LINING FUND HAS A DIRECT IMPACT ON AN INDIVIDUAL IN NEED. SILVER MAPLES HOSTS MANY EVENTS FOR THE CHELSEA COMMUNITY. THE MONTHLY KALEIDOSCOPE CONCERT SERIES IS ORGANIZED BY THE SILVER MAPLES COMMUNITY SERVICE GROUP. WE ARE ONE OF THE LARGEST SUPPORTERS OF THE CHELSEA SENIOR CENTER AND PARTICIPATED IN THEIR FESTIVAL OF TABLES EVENT. SILVER MAPLES HOSTS AN ANNUAL EVENING OF CIVIL DISCOURSE FOR COMMUNITY MEMBERS AND ELECTED OFFICIALS. WE HOST SEVERAL CHELSEA ARTIST GUILD AND ANN ARBOR ARTIST GUILD ART DISPLAYS, AS WELL AS MANY CHELSEA ROTARY CLUB AND CHELSEA CHAMBER EVENTS. SILVER MAPLES ALSO PARTICIPATES ANNUALLY IN THE CHELSEA HEART AND SOLE RACE, THE ANNUAL WALK FOR ALZHEIMER'S, AND THE ANNUAL RUN FOR THE ROLLS. WE ALSO PARTICIPATE AND SUPPORT THE ANNUAL CHELSEA CHAMBER OF COMMERCE GOLF OUTING, CHELSEA ROTARY GOLF OUTING, THE ST. LOUIS CENTER GOLF OUTING, AND THE LOCAL SRSLY COALITION (WHICH IS A TEAM OF YOUTH AND ADULTS WORKING TOGETHER TO PROMOTE POSITIVE CHOICES AND PREVENT YOUTH SUBSTANCE ABUSE), ALONG WITH THE ST. LOUIS JOSEPH MERCY HOSPITAL'S ANNUAL CAMPAIGNS. WE HAVE RESIDENTS THAT ARE MEMBERS OF SERVICE ORGANIZATIONS, THE CHELSEA GARDEN CLUB, THE FARM TO TABLE EVENT IN CHELSEA, THE CHELSEA SENIOR CENTER, AND THE CHELSEA ARTISTS GUILD. SEVERAL RESIDENTS ALSO PARTICIPATE IN THE EMERSON SCHOOL MENTORSHIP PROGRAM AND SERVE AS READERS FOR NORTH CREEK ELEMENTARY SCHOOL. THE CEO/EXECUTIVE DIRECTOR OF SILVER MAPLES IS AN ACTIVE MEMBER OF THE ROTARY CLUB OF CHELSEA AND SERVES ON THE BOARD OF THE CHELSEA CHAMBER OF COMMERCE. SHE ALSO SERVES ON THE CHELSEA 2030 COMMITTEE. FORM 990, PAGE 6, PART VI, LINE 3 SILVER MAPLES CONTRACTED WITH UNITED METHODIST RETIREMENT COMMUNITIES, INC. TO PROVIDE ACCOUNTING, AUDITOR INTERFACE, AND 990 RETURN PREPARATION FOR SILVER MAPLES, BEGINNING AUGUST 1, 2015. FORM 990, PAGE 6, PART VI, LINE 6 THE ORGANIZATION WAS FORMED BY TWO MEMBERS. FORM 990, PAGE 6, PART VI, LINE 7A THE BOARD OF DIRECTORS SHALL CONSIST OF SEVEN (7) TO NINE (9) DIRECTORS. (A)THREE DIRECTORS SHALL BE DEEMED EX-OFFICIO DIRECTORS WITH VOTE, AND SHALL BE THE PERSONS HOLDING THE POSITION OF PRESIDENT/CEO (OR OFFICE OF COMPARABLE RANK AND RESPONSIBILITY) OF EACH OF THE TWO MEMBERS AND THE CORPORATION. (B) EACH MEMBER SHALL APPOINT NO LESS THAN ONE (1) OR MORE THAN TWO (2) ADDITIONAL DIRECTORS; PROVIDED PERSONS APPOINTED AS DIRECTORS MEET THE RESPECTIVE MEMBER ORGANIZATION'S CRITERIA. (C) SILVER MAPLES BOARD WILL APPOINT TWO (2) COMMUNITY MEMBERS. (D) OTHER THAN THE MEMBERS, DIRECTORS MAY NOT BE EMPLOYEES OR BOARD MEMBERS OF ANY ORGANIZATION THAT OPERATES SENIOR LIVING SERVICES OR COMMUNITIES. ANY EXCEPTION MUST BE APPROVED BY BOTH MEMBER ORGANIZATIONS. (E) DIRECTORS, OTHER THAN EX-OFFICIO DIRECTORS, SHALL SERVE UP TO THREE TWO-YEAR TERMS OR UNTIL THEIR SUCCESSORS ARE ELECTED AND QUALIFIED, NOT TO EXCEED A TOTAL OF SIX CONSECUTIVE YEARS OF SERVICE, EXCLUSIVE OF PERIODS SERVED AS AN EX-OFFICIO DIRECTOR. (F) EACH MEMBER ORGANIZATION MAY ELECT TO EXTEND THE TERM OF ONE (1) DIRECTOR FROM THAT MEMBER ORGANIZATION FOR A FOURTH TWO-YEAR TERM. FORM 990, PAGE 6, PART VI, LINE 7B THE CORPORATE BY-LAWS RESERVE SPECIFIC POWERS TO THE MEMBERS THAT ARE NOT DELEGATED TO THE BOARD OF DIRECTORS AND INCLUDE: APPROVAL OF THE ANNUAL CAPITAL AND OPERATING BUDGETS FOR THE CORPORATION; APPROVAL OF THE SELECTION AND REMOVAL OF THE PRESIDENT/CHIEF EXECUTIVE OFFICER OF THE CORPORATION; ELECTION OF DIRECTORS; APPROVAL OF ANY BORROWING; APPROVAL OF ANY AND ALL AMENDMENTS OR ALTERATIONS OF THE BYLAWS OR ARTICLES OF INCORPORATION; APPROVAL OF ANY PLANS OF MERGER, CONSOLIDATION OR DISSOLUTION OF THE CORPORATION; APPROVAL OF THE FORMATION OR ACQUSITION OF NEW SUBSIDIARIES OF THE CORPORATION OR THE SALE OR OTHER DISPOSITION OF EXISTING SUBSIDIARIES; AND APPROVAL OF THE SALE, LEASE, MORTGAGE OR OTHER DISPOSITION OF SUBSTANTIALLY ALL OF THE ASSETS OWNED, HELD, OR LEASED BY OR TO THE CORPORATION. FORM 990, PAGE 6, PART VI, LINE 11B A COPY OF FORM 990 IS SENT TO THE BOARD OF DIRECTORS FOR THEIR REVIEW PRIOR TO THE FILING OF THE FORM. THE CEO OF THE CORPORATION AND MEMBERS OF THE UNITED METHODIST RETIREMENT COMMUNITIES, INC. FINANCE TEAM ARE AVAILABLE TO ANSWER QUESTIONS. FORM 990, PAGE 6, PART VI, LINE 12C CONFLICT OF INTEREST FORMS ARE REQUIRED TO BE COMPLETED AND SUBMITTTED ANNUALLY BY ALL BOARD MEMBERS. THESE FORMS ARE THEN REVIEWED AND ANY CHANGES ARE MONITORED BY THE BOARD AND MANAGEMENT. FORM 990, PAGE 6, PART VI, LINE 15A THE ORGANIZATION OBTAINS DATA FROM SIMILAR ORGANIZATIONS TO COMPARE COMPENSATION FOR THE PRESIDENT/CEO. THE BOARD USES THIS INFORMATION AND VOTES ON AN ANNUAL BASIS. THE PRESIDENT, WHO NORMALLY HAS A VOTE, DOES NOT VOTE ON HIS/HER OWN COMPENSATION. FORM 990, PAGE 6, PART VI, LINE 15B SEE 15A. FORM 990, PAGE 6, PART VI, LINE 19 FINANCIAL STATEMENTS AND FORM 990 ARE FURNISHED UPON WRITTEN REQUEST. THE CHAIRPERSONS FOR THE ORGANIZATION'S INDEPENDENT LIVING AND ASSISTED LIVING ATTEND ALL BOARD MEETINGS AND ARE SUPPLIED WITH ALL INFORMATION ON THE AGENDA. FORM 990, PART XI, LINE 9 LOSS ON INTEREST RATE SWAP -91,699