2020-11-16T16:30:58-06:00 2019-12-31 271728945 PKF O'CONNOR DAVIES LLP 500 MAMARONECK AVENUE HARRISON NY 105281633 990 2019-01-01 113277669 PECONIC LANDING AT SOUTHOLD INC PECO 6314773800 1500 BRECKNOCK ROAD GREENPORT NY 11944 ROBERT SYRON PRESIDENT/CEO 6314773800 2020-11-16 1 GARRETT M HIGGINS P00543209 9143818900 2020-11-16 24.190.81.120 2020-11-16 16:30:53 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 9616F4B14A694591D1E716C270910E6FA5556DA3 2019 2021-01-29 14:40:06Z ROBERT SYRON 1500 BRECKNOCK ROAD GREENPORT NY 11944 50972126 0 4305 X WWW.PECONICLANDING.ORG X 1994 NY PECONIC LANDING STRIVES TO BE A PREEMINENT SENIOR SERVICES PROVIDER. GUIDED BY OUR CORE VALUES, AND PHILOSOPHY OF INNOVATION, WE ARE COMMITTED TO WORK IN PARTNERSHIP WITH ALL TO ACHIEVE OUR VISION. 15 14 397 152 0 0 818008 1110605 25164185 26734472 1275321 1188026 2256891 1998213 29514405 31031316 25865 21200 0 0 17397086 18244643 0 0 80273 14363505 15246170 31786456 33512013 -2272051 -2480697 150098466 151262807 188081437 189992841 -37982971 -38730034 X PECONIC LANDING STRIVES TO BE ONE OF THE PREEMINENT CONTINUING CARE RETIREMENT COMMUNITIES IN THE UNITED STATES. WE ARE ACHIEVING OUR GOALS BY OPERATING AS A PARTNERSHIP WITH RESIDENTS, BOARD OF TRUSTEES, MANAGEMENT AND STAFF. 0 0 27495329 21200 26734472 PECONIC LANDING, WE STRIVE TO BRING TOGETHER INDIVIDUALS OF ALL AGES AND ABILITIES BY SERVING AS A VIBRANT COMMUNITY CENTER AND CULTURAL ARTS HUB FOR THE EAST END. THROUGH OUR INNOVATIVE SOCIAL ACCOUNTABILITY PROGRAM, INDIVIDUALS CAN IMMERSE THEMSELVES IN A GREAT VARIETY OF CULTURAL, EDUCATIONAL, WELLNESS, AND HELPFUL OPPORTUNITIES AVAILABLE FREE TO THE PUBLIC THAT ARE DESIGNED TO INSPIRE AND ENGAGE. EACH EVENT IS HOSTED WITH THE PURPOSE OF ENRICHING THE LIVES OF THOSE WHO TAKE PART. OUR COMMUNITY DOES THIS WITH ONE COMMON GOAL IN MIND: TO MAKE A POSITIVE, MEASURABLE IMPACT, IMPROVING QUALITY OF LIFE FOR THOSE WHO WORK AND LIVE ON THE EAST END.(CONTINUED ON SCHEDULE O)THE FOLLOWING EVENTS TOOK PLACE IN 2019 FOR THE RESIDENTS OF PECONIC LANDING:*14TH ANNUAL JOHN MAY MILE & 5K RACE (TO SUPPORT THE GREENPORT FIRE DEPARTMENT)GREENPORT FIRE DEPARTMENT (GFD) OUR ANNUAL JOHN MAY MILE & 5K RACE RAISES AND DONATES FUNDS TO THE GFD. WITH NEARLY 400 PARTICIPANTS, 100 LOCAL SPONSORS AND 200+ VOLUNTEERS, THE EVENT RAISED $21,200 IN 2019 TO BENEFIT THE GREENPORT FIRE DEPARTMENT. TOTAL DONATED IN THE EVENT'S 14 YEAR HISTORY EXCEEDS $250,000.*END OF SUMMER CELEBRATION AT BRECKNOCK HALLPECONIC LANDING HOSTED ITS 8TH ANNUAL END OF SUMMER CELEBRATION AT BRECKNOCK HALL FREE AND OPEN TO THE PUBLIC, WITH OVER 1400 IN ATTENDANCE. THE ATLANTIC WIND SYMPHONY SERENADED WITH POPULAR MUSIC BY GEORGE GERSHWIN, JOHN PHILIP SOUSA AND BROADWAY SHOW TUNES AS WELL AS A SALUTE TO THE MILITARY, POLICE AND FIRE PUBLIC SERVANTS. FOLLOWING THE MUSIC, FIREWORKS OVER THE PONDS WERE ENJOYED BY ALL. 27495329 1 1 0 1 0 0 0 0 1 1 1 1 0 1 1 1 0 1 0 0 0 0 0 0 1 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 31 0 397 1 0 0 0 0 0 0 0 0 0 0 0 0 X 15 14 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 NY X X ROBERT SYRON 6314773800 1500 BRECKNOCK ROAD GREENPORT NY 11944 ROBERT SYRON PRESIDENT/CEO 40.00 5.00 X X 462801 0 82397 GREGORY GARRETT EXECUTIVE VP - ADM. HEALTH 40.00 4.00 X 313575 0 81883 DARRYL VOLINSKI DIR. OF ENVIRON. SERVICES 40.00 X 196694 0 51510 LISA QUINN DIRECTOR OF FINANCE 40.00 4.00 X 174490 0 62472 PATRICIA LUTZKY V.P. RESIDENT SERVICES 40.00 X 180280 0 42872 WILLIAM BJORNHOLM DIR. OF FINE DINING 40.00 X 158495 0 44531 JANE WILLSEY DIRECTOR OF HUMAN RESOURCES 40.00 X 150558 0 44974 LAURELLE CASSONE DIRECTOR OF MARKETING 40.00 X 136548 0 51285 CAROL HANCE CHAIRPERSON 1.00 X X 0 0 0 PAUL J CONNOR VICE CHAIR 1.00 X X 0 0 0 EDWARD WELLINGTON WEBB II SECRETARY 1.00 1.00 X X 0 0 0 GREGORY FERRARIS TREASURER 1.00 X X 0 0 0 ROSAMOND BAIZ BOARD MEMBER 1.00 X 0 0 0 REBECCA A CHAPMAN BOARD MEMBER 1.00 X 0 0 0 ROBERT GOLDMAN BOARD MEMBER 1.00 1.00 X 0 0 0 FRANK DIBERNARDIS BOARD MEMBER 1.00 X 0 0 0 SANDRA NOVICK BOARD MEMBER 1.00 X 0 0 0 THOMAS MCCARTHY BOARD MEMBER 1.00 1.00 X 0 0 0 DONALD T RUSSO BOARD MEMBER 1.00 2.00 X 0 0 0 CLAUDIA WARD BOARD MEMBER 1.00 X 0 0 0 EILEEN MCGUIRE BOARD MEMBER 1.00 2.00 X 0 0 0 PAUL MAY BOARD MEMBER 1.00 X 0 0 0 1773441 0 461924 10 0 1 0 NORTH FORK WOODWORKS PO BOX 1407 SOUTHOLD NY 11971 CONSTRUCTION SERVICES 602841 AYA HEALTHCARE (CONTRACTED NURSES) PO BOX 123519 DALLAS TX 75312 OUTSOURCED NURSING SERVICES 219387 RESCOMM PHC INC 5925 SOUND AVENUENUE RIVERHEAD NY 11901 PLUMBING AND REPAIR SERVICES 198163 AMERICAN BATH & TILE CO 51 WAVERLY AVE SMITHTOWN NY 11787 CONSTRUCTION SERVICES 181449 EASTERN LI PHYSICAL THERAPY 201 MANOR LANE GREENPORT NY 11944 THERAPY SERVICES 152841 11 21200 1089405 1110605 PRIVATE PATIENT REVENUE 623000 21441281 21441281 ENRICHED HOUSING TRANSFER 900099 2283349 2283349 MEDICARE REVENUE 623000 1745914 1745914 RENTAL REVENUE 531110 750375 750375 MEDICAID REVENUE 623000 513553 513553 26734472 867772 867772 57668 57668 36659 0 36659 36659 36659 20203396 19940810 262586 262586 262586 0 21200 0 0 REMARKETING FEE 900099 1097699 1097699 LATE FEES 900099 341532 341532 GUEST ROOM + MEALS 900099 170806 170806 351517 351517 1961554 31031316 26734472 0 3186239 21200 21200 1400774 1085199 312320 3255 11786871 9131450 2628031 27390 270241 209359 60254 628 3426346 2654437 763947 7962 1360411 1053929 303321 3161 84384 84384 152818 152818 2071 2071 75462 75462 438134 378473 59661 190029 10255 179774 859777 591209 268568 185937 108397 77540 3523847 3369889 153958 52745 14611 38134 27090 13771 13319 881648 881648 4561013 4561013 156162 29500 126662 DIETARY SUPPLIES 1623762 1623762 PURCHASED AND CONTRACTE 944385 874694 68373 1318 REPAIRS & MAINTENANCE 469009 466858 2151 BAD DEBT EXPENSE 432220 432220 585677 415675 133443 36559 33512013 27495329 5936411 80273 1049371 3123339 9158159 10433226 3237363 2636776 415984 794301 82292 93606 1188310 447478 89785676 41273602 50127507 48512074 55137709 55137709 29701771 30084298 150098466 151262807 4051247 3888839 7549954 7375344 43013308 43686087 21258608 19162221 112208320 115880350 188081437 189992841 X -38972018 -39879031 989047 1148997 -37982971 -38730034 150098466 151262807 -2480697 1733634 0 X X 0 1 X 1 0 X 670859 1322552 1587572 818008 1110605 5509596 17687090 19277756 24603113 25164185 26734472 113466616 18357949 20600308 26190685 25982193 27845077 118976212 196265 25000 50 221315 0 196265 25000 50 221315 118754897 795329 853179 864619 915828 962099 4391054 795329 853179 864619 915828 962099 4391054 1355468 2238831 1943648 2218645 1961554 9718146 20508746 23692318 28998952 29116666 30768730 133085412 0.89230 0.89090 0.03300 0.03400 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: MISC INCOME - 2015 AMOUNT: $ 17,689. 2016 AMOUNT: $ 85,117. 2017 AMOUNT: $ 80,198. 2018 AMOUNT: $ 76,807. 2019 AMOUNT: $ 3,420. REMARKETING FEE - 2015 AMOUNT: $ 799,195. 2016 AMOUNT: $ 767,176. 2017 AMOUNT: $ 1,252,173. 2018 AMOUNT: $ 1,368,912. 2019 AMOUNT: $ 1,097,699. GUEST ROOM MEALS - 2015 AMOUNT: $ 116,630. 2016 AMOUNT: $ 122,466. 2017 AMOUNT: $ 145,266. 2018 AMOUNT: $ 169,013. 2019 AMOUNT: $ 170,806. LATE FEES - 2015 AMOUNT: $ 125,598. 2016 AMOUNT: $ 154,518. 2017 AMOUNT: $ 215,896. 2018 AMOUNT: $ 279,950. 2019 AMOUNT: $ 341,532. REAL ESTATE ASSESSMENT - 2015 AMOUNT: $ 41,058. 2016 AMOUNT: $ 41,324. 2017 AMOUNT: $ 40,936. 2018 AMOUNT: $ 39,163. 2019 AMOUNT: $ 38,731. PARKING INCOME - 2015 AMOUNT: $ 9,125. 2016 AMOUNT: $ 17,120. 2017 AMOUNT: $ 12,885. 2018 AMOUNT: $ 19,858. 2019 AMOUNT: $ 16,837. CONVENIENCE STORE - 2015 AMOUNT: $ 59,580. 2016 AMOUNT: $ 68,380. 2017 AMOUNT: $ 69,379. 2018 AMOUNT: $ 75,216. 2019 AMOUNT: $ 77,736. BEAUTY SHOP - 2015 AMOUNT: $ 24,291. 2016 AMOUNT: $ 16,706. 2017 AMOUNT: $ 15,519. 2018 AMOUNT: $ 16,180. 2019 AMOUNT: $ 18,741. TELEVISION INCOME - 2015 AMOUNT: $ 58,753. 2016 AMOUNT: $ 12,716. 2017 AMOUNT: $ 19,859. 2018 AMOUNT: $ 16,728. 2019 AMOUNT: $ 7,869. CAFETERIA INCOME - 2015 AMOUNT: $ 97,250. 2016 AMOUNT: $ 98,562. 2017 AMOUNT: $ 82,902. 2018 AMOUNT: $ 103,424. 2019 AMOUNT: $ 126,297. OPTIONS UPGRADES - 2015 AMOUNT: $ 6,299. 2017 AMOUNT: $ 8,635. 2018 AMOUNT: $ 6,248. 2019 AMOUNT: $ 20,238. ABATEMENT OF PROPERTY TAXES - 2016 AMOUNT: $ 854,746. INSURANCE SETTLEMENTS - 2018 AMOUNT: $ 47,146. 2019 AMOUNT: $ 41,648. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 2071 2071 0 PART II-B, LINE 1: COSTS ARE INCURRED AS PART OF DUES PAID TO NURSING HOME INDUSTRY ORGANIZATIONS. 0 1 X 500135 28691 18805 510021 501265 -1130 500135 500000 1265 501265 500000 500000 0.98000 0.02000 0 0 11034275 11034275 60627197 28642267 31984930 17718145 12631335 5086810 406059 406059 48512074 INV. IN PECONIC LANDING HOUSING 55137709 C 55137709 ASSETS LIMITED TO USE 26305284 OTHER FINANCING COST, NET 507947 DUE FROM RELATED PARTIES 2288829 FUNDED PENSION COSTS 982238 30084298 REFUNDABLE DEPOSIT/ACCRUED INT 114034592 OPTIONS & UPGRADE LIABILITY 666127 BOND INTEREST PAYABLE 197393 DEFERRED COMPENSATION LIABILITY 982238 115880350 X 36301351 1733634 6645587 8379221 27922130 75462 3033724 3109186 31031316 39490843 9088016 9088016 30402827 75462 3033724 3109186 33512013 PART IV, LINE 2B: THE ESCROW LIABILITY ACCOUNTS REPRESENT THE ESCROW TO BE USED TO PURCHASE ANOTHER COOPERATIVE UNIT IF THE RESIDENT CAN LIVE INDEPENDENTLY AGAIN OR BE PAID UPON A RESIDENT'S DEATH TO THE RESIDENT'S ESTATE, AS DIRECTED BY THE RESIDENT'S WILL. PART V, LINE 4: AN ENDOWMENT FUND WAS FORMED FOR THE BENEFIT OF THE MEMORY SUPPORT NEIGHBORHOOD. PART X, LINE 2: THE COMPANY FILES INFORMATION TAX RETURNS IN THE U.S. FEDERAL AND NEW YORK STATE JURISDICTIONS AND RECOGNIZE THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE COMPANY HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE COMPANY IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO DECEMBER 31, 2016. PART XI, LINE 2D - OTHER ADJUSTMENTS: REVENUE ATTRIBUTABLE TO CONSOLIDATED & RELATED ENTITIES 6,645,587. PART XI, LINE 4B - OTHER ADJUSTMENTS: ELIMINATING ENTRY 2,283,349. RENTAL REVENUE FROM AFFILIATE REPORTED ON PART VIII, LINE 2 750,375. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES ATTRIBUTABLE TO CONSOLIDATED & RELATED ENTITIES 9,088,016. PART XII, LINE 4B - OTHER ADJUSTMENTS: ELIMINATING ENTRY 2,283,349. RENTAL REVENUE FROM AFFILIATE REPORTED ON PART VIII, LINE 2 750,375. 5K RUN 21200 21200 21200 21200 1 GREENPORT FIRE DEPARTMENT 236 3RD AVENUE GREENPORT NY 11944 113429066 501(C)(3) 21200 GENERAL SUPPORT 1 PART I, LINE 2: FUNDS WERE RAISED VIA A FUNDRAISING EVENT TO SUPPORT LOCAL CHARITIES IN THE AREA, IN FURTHERANCE OF ITS MISSION. X X 1 1 X X X X 0 1 0 0 0 0 0 1 0 ROBERT SYRON PRESIDENT/CEO 331752 0 107494 0 23555 0 52238 0 30159 0 545198 0 0 0 GREGORY GARRETT EXECUTIVE VP - ADM. HEALTH 264139 0 30000 0 19436 0 37049 0 44834 0 395458 0 0 0 DARRYL VOLINSKI DIR. OF ENVIRON. SERVICES 160749 0 20000 0 15945 0 21530 0 29980 0 248204 0 0 0 LISA QUINN DIRECTOR OF FINANCE 138897 0 25000 0 10593 0 17810 0 44662 0 236962 0 0 0 PATRICIA LUTZKY V.P. RESIDENT SERVICES 134401 0 24000 0 21879 0 25390 0 17482 0 223152 0 0 0 WILLIAM BJORNHOLM DIR. OF FINE DINING 127721 0 20000 0 10774 0 14888 0 29643 0 203026 0 0 0 JANE WILLSEY DIRECTOR OF HUMAN RESOURCES 118883 0 20000 0 11675 0 14879 0 30095 0 195532 0 0 0 LAURELLE CASSONE DIRECTOR OF MARKETING 104284 0 20000 0 12264 0 16653 0 34632 0 187833 0 0 0 PART I, LINE 1A PECONIC LANDING AT SOUTHOLD, INC. MADE A TAX GROSSUP PAYMENT FOR THE DIRECTOR'S INSURANCE FOR THE FOLLOWING INDIVIDUALS: ROBERT SYRON, PRESIDENT & CEO, GREGORY GARRETT, EXECUTIVE VP, DARRYL VOLINSKI, DIRECTOR OF ENVIRONMENTAL SERVICES, PATRICIA LUTZKY, VP OF RESIDENT SERVICES, LAURELLE CASSONE, DIRECTOR OF MARKETING, AND JANE WILLSEY, DIRECTOR OF HUMAN RESOURCES, WILLIAM BJORNHOLM, DIRECTOR OF DINING SERVICES, LISA QUINN, DIRECTOR OF FINANCE, AND DIANE RADIGAN, DIRECTOR OF RESIDENTIAL SERVICES. PECONIC LANDING AT SOUTHOLD, INC. PAYS THE HEALTH CLUB DUES FOR ROBERT SYRON, PRESIDENT & CEO AND DARRYL VOLINSKI, DIRECTOR OF ENVIRONMENTAL SERVICES. THE AMOUNT OF DUES IS TAXABLE AND INCLUDED IN THE W-2S OF THE INDIVIDUALS. PART I, LINE 4B ROBERT SYRON AND GREGORY GARRETT PARTICIPATED IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN. THEY RECEIVED AN EMPLOYER CONTRIBUTION ON IN THE AMOUNT OF $19,260 AND $8,001 IN 2019. PART I, LINE 7 BONUSES WERE PAID TO VARIOUS OFFICERS, KEY EMPLOYEES AND HIGHLY COMPENSATED EMPLOYEES FOR ADDITIONAL RESPONSIBILITIES AND EXTRAORDINARY ACHIEVEMENT. THESE BONUSES WERE APPROVED BY THE BOARD AND AUTHORIZED BY THE PRESIDENT OF THE BOARD. A SUFFOLK COUNTY ECONOMIC DEVELOPMENT CORPORATION 273722095 86476RAD6 2010-12-08 29173331 REFUNDING 0 0 0 B SOUTHOLD LOCAL DEVELOPMENT CORPORATION 471450671 844584AL6 2015-03-05 20229958 REFUNDING 0 0 0 C SUFFOLK COUNTY ECONOMIC DEVELOPMENT CORPORATION 273722095 86476RDB7 2019-12-12 1965000 REFUNDING 0 0 0 A 4260000 29457709 583467 28690543 183699 2010 1 0 1 1 B 410000 20377048 404599 18997431 975018 2015 1 0 1 1 C 1965000 2020 1 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 A 0 0 1 1 0 0 1 GE CAPITAL CORPORATION 30.000000000000 1 0 1 B 0 0 1 1 0 0 0 0 1 C 0 0 1 1 0 0 1 GE CAPITAL CORPORATION 30.000000000000 1 0 1 A 1 B 1 C 1 FORM 990, PART VI, SECTION B, LINE 11B THE FINANCE COMMITTEE MEETS WITH A DESIGNATED BOARD MEMBER WHO HAS BEEN ASSIGNED BY OTHER BOARD MEMBERS TO REVIEW THE FORM 990. THE FORM 990 IS PRESENTED TO THE DESIGNATED BOARD MEMBER AND THE FULL EXTENT OF THE FORM AND ITS PREPARATION IS EXPLAINED AT THE TIME. THE DESIGNATED BOARD MEMBER THEN REVIEWS AND APPROVES THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C IN THE EVENT A MEMBER OF THE BOARD OF TRUSTEES OF PECONIC LANDING AT SOUTHOLD, INC., OR THE MEMBER'S SPOUSE, CHILD, PARENT OR SIBLING, AS A RESULT OF A TRANSACTION, INVESTMENT OR ACTIVITY (HEREIN REFERRED TO AS A MATTER) WITH OR INVOLVING PECONIC LANDING AT SOUTHOLD, INC., PECONIC LANDING HOUSING ASSOCIATION COOPERATIVE, INC., PECONIC LANDING FOUNDATION, INC. (REFERRED TO IN THE AGGREGATE AS PECONIC LANDING) WILL RECEIVE ANY PROFIT OR GAIN, WHETHER DIRECTLY OR INDIRECTLY, THEN THE MEMBER SHALL PROMPTLY DISCLOSE THAT INTEREST TO THE BOARD AND SHALL NOT PARTICIPATE IN ANY DECISION ON SUCH A MATTER. THE MEMBER SHALL NOT VOTE ON, AND SHALL REMOVE HIM OR HERSELF FROM THE MEETING DISCUSSING SUCH A MATTER. THE MEMBER SHALL ALSO DISCLOSE ANY KNOWN SIGNIFICANT REASON(S) THAT SUCH A MATTER MIGHT NOT BE IN THE BEST INTERESTS OF PECONIC LANDING. THE MEMBER'S ABSTENTION FROM THE MEETING AND VOTE AND THE REASON FOR IT WILL BE RECORDED IN THE MINUTES OF ANY MEETING AT WHICH SUCH A MATTER OR MATTERS ARE DISCUSSED. EACH MEMBER IS REQUIRED TO SUBMIT AN ANNUAL DISCLOSURE STATEMENT AT THE BEGINNING OF EACH CALENDAR YEAR, AND WITHIN THIRTY (30) DAYS FOLLOWING THE EFFECTIVE DATE OF THIS POLICY. FORM 990, PART VI, SECTION B, LINE 15 PHILOSOPHY REGARDING EXECUTIVE COMPENSATION - THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES OF PECONIC LANDING AT SOUTHOLD, INC. SHALL HAVE THE RESPONSIBILITY FOR ESTABLISHING ALL MATTERS PERTAINING TO EXECUTIVE COMPENSATION. THE BOARD RECOGNIZES THAT IT IS CHARGED WITH ESTABLISHING A TOTAL COMPENSATION PACKAGE NECESSARY TO ATTRACT THE BEST TALENT POSSIBLE WHILE BEING FULLY COGNIZANT OF ITS FIDUCIARY RESPONSIBILITY TO THE ORGANIZATION. THE BOARD, THEREFORE, ASSURES THAT DECISIONS INVOLVING EXECUTIVE COMPENSATION SHALL BE REASONABLE AND MEET THE REQUIREMENTS FOR A TAX-EXEMPT ENTITY, WHICH ARE: (1) COMPENSATION SHALL BE BASED ON RELIABLE MARKET COMPARABILITY DATA; (2) THE BASIS TO SUPPORT EXECUTIVE COMPENSATION SHALL BE DOCUMENTED; AND (3) ALL MATTERS RELATED TO EXECUTIVE COMPENSATION ARE MADE FREE FROM ANY DIRECT OR INDIRECT CONFLICTS OF INTEREST, COMPENSATION NEGOTIATION - THE COMPENSATION COMMITTEE SHALL NEGOTIATE ON BEHALF OF THE BOARD ALL MATTERS OF EXECUTIVE COMPENSATION, INCLUDING BASE WAGE, INCENTIVES, BONUSES, MERIT INCREASES, PREREQUISITES, AND BENEFITS. THE COMPENSATION COMMITTEE SHALL HAVE THE AUTHORITY TO NEGOTIATE ON BEHALF OF THE BOARD IN MATTERS RELATING TO COMPENSATION. DOCUMENTATION OF THIS PROCESS WILL BE KEPT ON FILE INCLUDING: (1) DATA OR SOURCES USED IN DETERMINING COMPENSATION RECOMMENDATIONS; (2) A REVIEW OF EXECUTIVE PERFORMANCE; AND (3) FULL DISCLOSURE OF ANY POTENTIAL CONFLICTS OF INTEREST. THE COMPENSATION COMMITTEE SHALL MAKE ASSURANCE THAT FINAL EXECUTIVE COMPENSATION RECOMMENDATIONS ARE INDEPENDENTLY APPROVED BY COMMITTEE MEMBERS ACTING ON BEHALF OF THE BOARD IN A NON-CONFLICT OF INTEREST POSITION. BASIS FOR EXECUTIVE COMPENSATION - TO ENSURE THE REASONABLENESS OF EXECUTIVE COMPENSATION, IT WILL BASE AND DOCUMENT ITS RECONM1ENDATIONS ON THE FOLLOWING CRITERIA: MARKET DATA COMPARISONS; FUNCTIONAL REQUIREMENTS OF THE POSITION; CURRENT MARKET HENDS; REGIONAL ECONOMIC INDICATORS; EDUCATION, CAREER BACKGROUND; AND EXPERIENCE OF THE PERSON IN THE POSITION. THE COMPENSATION COMMITTEE MAY SEEK ADVICE AND COUNSEL FROM EXTERNAL, UNRELATED SOURCES INCLUDING, BUT NOT LIMITED TO: MANAGEMENT CONSULTANTS, EXECUTIVE RECRUITERS, NATIONAL AND STATE ORGANIZATIONS SUCH AS AAHSA AND NYAHSA, SALARY RESEARCH RESOURCES AND DATA BASES, AND OTHER SOURCES WHICH MAY PROVIDE ACCURATE, RELIABLE, VERIFIABLE WAGE DATA. COMPENSATION CONCERNING INCENTIVES AND BONUSES SHALL BE BASED ON QUANTITATIVE PERFORMANCE CRITERIA APPLIED TO THE ACHIEVEMENT OF PRE ESTABLISHED GOALS. MERIT INCREASES SHALL BE MADE AT THE DISCRETION OF THE BOARD CHAIR, VICE CHAIR, AND CHAIR OF THE FINANCE COMMITTEE, COMPENSATION COMMITTEE, ON BEHALF OF THE BOARD BASED ON PERFORMANCE IMPROVEMENT OVER A SPECIFIED PERIOD OF TIME. BENEFITS, INCLUDING HEALTH INSURANCE, LIFE INSURANCE, VACATION AND OTHER TIME OFF, SHALL BE PROPORTIONATE WITH THE BENEFITS POLICIES AND PACKAGES IN EFFECT FOR LEADERSHIP PERSONNEL AT PECONIC LANDING AT SOUTHOLD, INC. ON THE EFFECTIVE DATE OF BOARD APPROVAL OF THE TOTAL COMPENSATION PACKAGE. DOCUMENTATION CONCERNING EXECUTIVE COMPENSATION - ALL MATTERS PERTAINING TO EXECUTIVE COMPENSATION MUST BE IN WRITTEN FORM. THE COMPENSATION DETERMINATION PROCESS WAS LAST UNDERTAKEN IN 2019. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FORM 990 AND FORM 1023 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. THE RETURN IS POSTED ON GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, THE FINANCIAL STATEMENTS, ARTICLES OF INCORPORATION, FORM 990, FORM 1023, CONFLICT OF INTEREST POLICY, AND BY-LAWS ARE ALSO AVAILABLE UPON WRITTEN REQUEST OR BY CALLING THE ORGANIZATION DIRECTLY. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS DID NOT CHANGE FROM THE PRIOR YEAR. BRECKNOCK HALL FOUNDATION 1500 BRECKNOCK ROAD GREENPORT NY 11944 200350364 RENTAL OF HALL NY 501(C)(3) PF PECONIC LANDING AT SOUTHOLD INC 1 PECONIC LANDING HOME HEALTH SERVICES INC 1500 BRECKNOCK ROAD GREENPORT NY 11944 454566737 HOME HEALTH SERVICES NY 501(C)(3) LINE 10 PECONIC LANDING AT SOUTHOLD INC 1 THE SHORES AT PECONIC LANDING ASSISTED LIVING RESIDENCE 1500 BRECKNOCK ROAD GREENPORT NY 11944 454977274 ASSISTED LIVING NY 501(C)(3) LINE 10 PECONIC LANDING AT SOUTHOLD INC 1 PECONIC LANDING HOUSING ASSOCIATION CO-OP 1500 BRECKNOCK ROAD GREENPORT NY 11944 020575501 HOUSING ASSOCIATION NY PECONIC LANDING AT SOUTHOLD INC C 3711904 40447050 1.00000 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 1 1 1 0 1 PECONIC LANDING HOUSING ASSOCIATION CO-OP A 750375 COST THE SHORES AT PECONIC ASSISTED LIVING RESIDENCE INC S 2283349 COST FORM 990, SCHEDULE R, PART V, LINE 1A: PECONIC LANDING AT SOUTHOLD, INC. RECEIVED RENTAL INCOME, WHICH IS A SPECIFIED PAYMENT, FROM ITS CONTROLLED SUBSIDIARY. THESE PAYMENTS WERE MADE AT ARM'S LENGTH AND MEET THE FAIR MARKET VALUE STANDARD. RELATED PARTY TRANSACTIONS: ON NOVEMBER 28, 2000, THE COMPANY AND THE COOPERATIVE ENTERED INTO A LEASE AGREEMENT RELATED TO THE INITIAL 250 INDEPENDENT LIVING UNITS. UNDER THE TERMS OF THE LEASE, THE COMPANY AGREED TO LEASE A PORTION OF ITS REAL PROPERTY TO THE COOPERATIVE. IN ADDITION, THE LEASE SPECIFIES THAT THE COMPANY AGREES TO CONSTRUCT AND FURNISH ON THE REAL PROPERTY CERTAIN BUILDINGS, IMPROVEMENTS AND FURNISHINGS AND TO TRANSFER TITLE TO THESE SPECIFIED RESIDENTIAL IMPROVEMENTS FOR AND IN CONSIDERATION OF ALL AUTHORIZED AND UN-ISSUED SHARES OF THE COOPERATIVE. PURSUANT TO THE TERMS OF THE EXECUTED LEASE, THE COMPANY OWNS THE LAND, THE COMMUNITY CENTER, AND THE HEALTH CARE CENTER AND THE COOPERATIVE OWNS THE SPECIFIED RESIDENTIAL IMPROVEMENTS. THE LEASE TERM IS 99 YEARS AND THE ANNUAL RENT FOR THE INITIAL TEN YEAR PERIOD OF THE LEASE IS COMPUTED ON THE BASIS OF $225 PER MONTH PER OCCUPIED RESIDENTIAL UNIT, NOT TO EXCEED AN ANNUAL RENT OF $675,000 IN ANY CALENDAR YEAR DURING THIS PERIOD. SUBSEQUENT TO THE INITIAL TEN YEAR PERIOD, THE COMPANY HAS THE OPTION TO ADJUST THE BASE RENT TO TEN PERCENT OF THE APPRAISED VALUE OF THE LAND. ON MARCH 15, 2015, THE COMPANY AND THE COOPERATIVE ENTERED INTO A SECOND LEASE AGREEMENT RELATED TO 46 ADDITIONAL INDEPENDENT UNITS ON A PORTION OF COMPANY'S LAND. THE LEASE TERM IS 99 YEARS AND IS TO BE AUTOMATICALLY EXTENDED FOR AN ADDITIONAL TERM OF 99 YEARS. THE ANNUAL RENT FOR THE INITIAL TEN YEAR PERIOD OF THE LEASE IS COMPUTED ON THE BASIS OF $225 PER MONTH PER OCCUPIED RESIDENTIAL UNIT. SUBSEQUENT TO THE INITIAL TEN YEAR PERIOD, THE COMPANY HAS THE OPTION TO ADJUST THE BASE RENT TO TEN PERCENT OF THE APPRAISED VALUE OF THE LAND. THESE LEASES PROVIDE THAT THE COOPERATIVE MUST USE THE PROPERTY ONLY FOR THE PURPOSE OF PROVIDING HOUSING TO MEMBERS WHO ENTER INTO CARE AGREEMENTS WITH THE COMPANY. THE COOPERATIVE DOES NOT HAVE THE RIGHT TO REMOVE THE RESIDENTIAL IMPROVEMENTS WITHOUT THE COMPANY'S PRIOR WRITTEN CONSENT. THESE LEASES MAY ONLY BE TERMINATED WITH THE APPROVAL OF THE NEW YORK STATE CONTINUING CARE RETIREMENT COMMUNITY COUNCIL, OR ITS SUCCESSOR STATE AGENCY. IN THE EVENT OF DEFAULT UNDER THE LEASE AGREEMENT, THE RESIDENTIAL IMPROVEMENTS VEST WITH THE COMPANY. LEASE AND SERVICES AGREEMENTS BETWEEN THE COMPANY AND THE SHORES IN AUGUST 2013 AND JUNE 2014, THE COMPANY ENTERED INTO A LEASE AGREEMENT AND A LICENSE AGREEMENT WITH THE SHORES WHEREBY THE COMPANY LEASED THE ASSISTED LIVING RESIDENCE PORTION OF ITS REAL PROPERTY TO THE SHORES AND LICENSED IT TO OPERATE THE ENRICHED HOUSING PROGRAM. PURSUANT TO EACH AGREEMENT, THE SHORES AGREED TO PAY THE COMPANY $1 ANNUALLY. ADDITIONALLY, UNDER THE LEASE AGREEMENT THE SHORES WILL PAY TO THE COMPANY ALL INCOME GENERATED FOR THE CARE OF RESIDENTS OF THE ENRICHED HOUSING PROGRAM AND ANY OTHER INCOME FROM ANY OTHER SOURCE. THE TERM OF EACH AGREEMENT IS 99 YEARS AND THEREAFTER CAN BE AUTOMATICALLY RENEWED FOR SUCCESSIVE TERMS OF 99 YEARS PROVIDED THE SHORES SHALL BE IN COMPLIANCE WITH TERMS AND CONDITIONS OF THE AGREEMENTS. IN CONJUNCTION WITH THE ABOVE AGREEMENTS, THE COMPANY ALSO ENTERED INTO A MANAGEMENT AND A MAINTENANCE AND SERVICES AGREEMENT WITH THE SHORES. PURSUANT TO THE TERMS OF THESE AGREEMENTS, THE COMPANY IS RESPONSIBLE TO PROVIDE OVERSIGHT, MANAGEMENT AND MAINTENANCE SERVICES TO ENSURE QUALITY OPERATION AND ADMINISTRATION OF THE ENRICHED HOUSING PROGRAM. THE TERM OF THE AGREEMENT IS FOR FIVE YEARS STARTING MAY, 2016 AND RENEWS EVERY FIVE YEARS UNTIL CANCELLED BY THE BOARDS OF THE COMPANY AND THE SHORES OR NYSDOH.