2020-11-12T14:44:05-06:00 2019-12-31 560747981 DIXON HUGHES GOODMAN LLP 500 RIDGEFIELD COURT ASHEVILLE NC 28806 990 2019-01-01 562277623 GALLOWAY RIDGE INC GALL 9195452215 3000 GALLOWAY RIDGE PITTSBORO NC 27312 TODD PETERSON TREASURER 9195452215 2020-11-12 1 AMY BIBBY P00445891 8282542254 2020-11-12 99.47.28.203 2020-11-12 14:43:25 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 48FB394F9AA065459641371F168D9F2AFFFBB473 2019 2021-01-29 14:40:06Z ROB NELSON 3000 GALLOWAY RIDGE PITTSBORO NC 27312 32209856 0 X WWW.GALLOWAYRIDGE.COM X 2001 NC OPERATION OF CONTINUING CARE RETIREMENT COMMUNITY 12 12 529 10 0 0 818970 1164471 29590200 29827392 698380 1006681 203003 192897 31310553 32191441 100000 69400 0 0 12515990 13588965 0 0 0 18240349 20061781 30856339 33720146 454214 -1528705 136381850 131231832 177045670 171999009 -40663820 -40767177 X GALLOWAY RIDGE EXISTS TO INSPIRE MEANINGFUL AND ENGAGED LIVES AND TO ASSURE EACH RESIDENT A SUPERIOR QUALITY OF LIFE AND CARE. 0 0 29804235 69400 29923507 GALLOWAY RIDGE, INC. PROVIDED HOUSING, HEALTHCARE, AND OTHER RELATED SERVICES TO RESIDENTS THROUGH THE OPERATION OF A RESIDENT FACILITY CONTAINING 301 INDEPENDENT LIVING UNITS, 36 ASSISTED LIVING UNITS, 15 MEMORY CARE UNITS AND 40 SKILLED NURSING UNITS. GALLOWAY RIDGE WELCOMED ITS FIRST RESIDENTS IN 2005 WITH A MISSION OF PROVIDING ITS RESIDENTS SUPERIOR SERVICES AT A REASONABLE COST AND STRIVING TO PROVIDE A COMPLEMENT OF SERVICES TO SUPPORT THE RESIDENT'S HEALTH, SOCIAL, SPIRITUAL AND RECREATIONAL NEEDS. SINCE INCEPTION, GALLOWAY RIDGE HAS PAID PROPERTY TAXES TO CHATHAM COUNTY IN A TOTAL AMOUNT EQUAL TO $8,529,287; $841,798 OF WHICH WAS PAID MOST RECENTLY IN 2019. IN ADDITION TO PAYING PROPERTY TAXES, GALLOWAY RIDGE HAS CONSISTENTLY ENGAGED IN A VARIETY OF OTHER CHARITABLE EFFORTS AND CONTRIBUTIONS. IN 2019, GALLOWAY RIDGE ASSISTED RESIDENTS WHO COULD NOT PAY THEIR MONTHLY SERVICE FEE AND MADE CASH DONATIONS TO LOCAL NONPROFITS ($69,400).SOON AFTER OPENING, IN 2006, THE GALLOWAY RIDGE CHARITABLE FUND WAS ESTABLISHED AT THE RECOMMENDATION OF THE BOARD OF DIRECTORS' SOCIAL ACCOUNTABILITY COMMITTEE, A STANDING COMMITTEE OF THE BOARD. THE CHARITABLE FUND WAS ORGANIZED AND CONTINUES TO OPERATE FOR THE FOLLOWING PURPOSES:(A) TO CARRY OUT THE MISSION OF GALLOWAY RIDGE AS STATED IN THE GALLOWAY RIDGE BYLAWS.(B) TO PROVIDE OR FUND "CHARITY CARE," DEFINED AS THE UNREIMBURSED COSTS TO GALLOWAY RIDGE OF PROVIDING HEALTHCARE, HOUSING OR OTHER SERVICES TO RESIDENTS WHO ARE UNABLE TO PAY FOR ALL OR PART OF THE SERVICES RENDERED.(C) TO PROVIDE OR FUND "COMMUNITY BENEFITS," DEFINED AS THE UNREIMBURSED COSTS TO GALLOWAY RIDGE OF PROVIDING THE FOLLOWING:I. SERVICES, INCLUDING HEALTH, RECREATION, COMMUNITY RESEARCH, AND EDUCATION ACTIVITIES PROVIDED TO THE COMMUNITY AT LARGE, INCLUDING THE ELDERLY.II. CHARITABLE DONATIONS.III. DONATED VOLUNTEER SERVICES.IV. DONATIONS AND VOLUNTARY PAYMENTS TO GOVERNMENT AGENCIES.(D) TO SOLICIT, RECEIVE, ADMINISTER, INVEST AND DISTRIBUTE FUNDS FOR THE PURPOSES LISTED ABOVE.CONTRIBUTIONS TO THE GALLOWAY RIDGE CHARITABLE FUND MAY BE DESIGNATED THESE PURPOSES: I) SUPPORT FOR GALLOWAY RIDGE RESIDENTS WHO MAY NEED ASSISTANCE WITH FEES IN THE FUTURE BECAUSE OF DIFFICULT FINANCIAL CIRCUMSTANCES; II) SUPPORT OF THE CHATHAM COMMUNITY; GALLOWAY RIDGE AND ITS RESIDENTS HAVE FOSTERED AND ESTABLISHED RELATIONSHIPS WITH NUMEROUS AGENCIES AND ORGANIZATIONS THROUGHOUT THE COMMUNITY INCLUDING THE FOLLOWING:BOARD OF DIRECTORSCOMMUNITY ENGAGEMENTART ADVISORY COMMITTEE, ACTIVITIES ADVISORYBENEVOLENT CARE FUND,BUILDING & APPEARANCE,CHARITABLE FUND,COMMUNICATION,COMPOST TEAM,DESIGN/APPEARANCE, EMPLOYEE APPRECIATION FUND,EMPLOYEE SCHOLARSHIP FUND,FINANCE, HEALTH COMMITTEE,HOME SERVICES,LIBRARY ADVISORY, VALUES COMM.,NOMINATING COMMITTEES,RESIDENT COUNCIL,RESIDENTS' BENEVOLENT CARE FUND, ROBBIE COX NORMS, SPECIAL EVENTS,SUSTAINABILITY, VOLUNTEER COORDINATING,MARKETING & PR,VARIOUS RELIGIOUS ORGANIZATIONS (CHURCHES & SYNAGOGUES),HABITAT FOR HUMANITY,COUPON CLIPPING,UNC HOSPITAL,CORALINUS QUILTING PROJECTJUNIOR LEAGUE ROTARY CLUBBOYS & GIRLS CLUBCOMMITTEESALVATION ARMY SIERRA CLUBGUIDING EYES (DOG TRAINING)CHATHAM COUNTY SENIOR GAMESTIGER RESCUECHATHAM ARTIST GUILDUNITED WAYORANGE COUNTY JUSTICE UNITEDNC MUSEUM OF ARTTOLEDO MUSEUM OF ART CHAPEL HILL SOUP KITCHENSHIIP- NC HEALTH INS.LINEBERGER CANCER CENTER ARBOR VOLUNTEER CHURCH SERVICE- SET UPCOMMUNITY GARDENSCOVID 19 ACTIVITYDINE OUT DINING FOREIGN FILMSFLOWERS GALLOWAY GUARDIANSHEARD INVESTING CLUBLIBRARY LONG RANGE PLANNINGMEMOIR GROUPCOLLECTION CABINETPOETRY MUSIC VOTER INFORMATIONMOVIE COMMITTEESNEIGHBORS HELPING NEIGHBORSRIDGELINESTECHNICAL BASICSTECH HELP & SPECTRUMTURNAROUND SHOPWELCOMING COMMITTEEWELLNESS COMMITTEEWINE CLASSWOODWORKERS 29804235 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 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 0 0 0 0 1 105 0 1 529 1 0 0 0 0 1 1 1 1 0 0 0 0 0 0 X 12 12 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X DANA BOYLAN-WALKER 9195452603 3000 GALLOWAY RIDGE PITTSBORO NC 27312 ROB NELSON CHAIR & DIRECTOR 5.00 X X 0 0 0 ALAN RIMER VICE-CHAIR & DIRECTOR 5.00 X X 0 0 0 ALEX WELLER SECRETARY & DIRECTOR 5.00 X X 0 0 0 TODD PETERSON TREASURER & DIRECTOR 5.00 X X 0 0 0 STAN CAMBELL BOARD MEMBER 1.00 X 0 0 0 BOB ENDERS BOARD MEMBER 1.00 X 0 0 0 MATT EWEND BOARD MEMBER 1.00 X 0 0 0 VALERIE HARRIS BOARD MEMBER 1.00 X 0 0 0 KELLY MACKAY BOARD MEMBER 1.00 X 0 0 0 MARVA PRICE BOARD MEMBER 1.00 X 0 0 0 ROBBIE COX BOARD MEMBER 1.00 X 0 0 0 STAN MANDEL BOARD MEMBER 1.00 X 0 0 0 ROBERT ZIMMER CEO EXECUTIVE DIRECTOR 50.00 X 222970 0 14353 DANA BOYLAN-WALKER SR. DIRECTOR OF FINANCE 50.00 X 111894 0 11442 ADAM MELTON ASSOCIATE EXECUTIVE DIRECT 50.00 X 131194 0 24649 MELISSA JOHNSON SR. DIRECTOR OF MARKETING 50.00 X 116291 0 27257 KATHRYN TURNER SR. DIRECTOR OF HUMAN RESO 50.00 X 120048 0 11606 BRADLEY MOORE SR. DIRECTOR OF TECHNOLOGY INNOVATION 50.00 X 127169 0 8325 829566 0 97632 8 0 1 0 WEAVER COOKE CONSTRUCTION LLC 8401 KEY BLVD GREENSBORO NC 27409 CONSTRUCTION SERVICES 1604106 REHABCARE GROUP INC PO BOX 503534 ST LOUIS MO 631503534 MEDICAL SERVICES 1010231 BRIGHTVIEW HOLDINGS INC PO BOX 740655 ATLANTA GA 30374 LANDSCAPING SERVICES 438146 CHATHAM CARPET & INTERIORS INC 50 STILL WATERS DRIVE SILER CITY NC 27344 CARPET & FLOORING INSTALLATION 326541 UNC SCHOOL OF MEDICINE DEPT OF MED CB7005 125 MACNAIDER CHAPEL HILL NC 275997005 MEDICAL SERVICES 301768 7 96115 1068356 1164471 RESIDENT SERVICES 623000 29827392 29827392 29827392 458100 458100 66900 0 66900 66900 66900 548581 0 548581 548581 548581 0 96115 18415 -18415 -18415 GUEST/EMPLOYEE/OTHER DINING SERVI 900099 144412 144412 144412 32191441 29827392 0 1199578 69400 69400 334864 334864 10498011 9041546 1456465 97332 81237 16095 1875118 1618095 257023 783640 661888 121752 25669 25669 166217 166217 1773209 1497795 275414 284543 49106 235437 1543386 1200638 342748 347025 184 346841 1946609 1946609 39692 4634 35058 103956 6260 97696 3782083 3782083 4745524 4745524 482697 278065 204632 EARLY EXTINGUISHMENT OF 1958782 1958782 DIETARY EXPENSE 1501166 1501166 MEDICAL SUPPLIES 1358960 1358960 MISCELLANEOUS 2263 2263 33720146 29804235 3915911 0 7296074 4682366 715874 4732 697555 440045 104607 140479 440380 438509 136106160 48090395 88978600 88015765 20047278 19762831 8099791 7501175 10001691 10245930 136381850 131231832 3948208 2390880 100558469 101589173 68725268 66144193 3813725 1874763 177045670 171999009 X -42633132 -43371669 1969312 2604492 -40663820 -40767177 136381850 131231832 X -1528705 2202036 -776688 X 0 1 X 1 0 X 527499 560543 762210 818970 1068356 3737578 28053922 26876085 28555376 29590200 29923507 142999090 148236 148427 126791 136332 144412 704198 28729657 27585055 29444377 30545502 31136275 147440866 219636 167509 212034 174884 235836 1009899 0 219636 167509 212034 174884 235836 1009899 146430967 21505 557782 629423 698380 1006681 2913771 21505 557782 629423 698380 1006681 2913771 56439 12560 68999 28807601 28142837 30086360 31243882 32142956 150423636 0.97350 0.97740 0.01940 0.01390 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5690693 5690693 108615654 40125308 68490346 10430124 3853146 6576978 10158999 3752985 6406014 1210690 358956 851734 88015765 RESERVE REQUIRED BY STATE STATUTE 6386158 SALES TAX RECEIVABLE 283463 CHARITABLE FUND 2292922 DEFFERED FINANCING COSTS 1283387 10245930 REFUNDABLE ENTRANCE FEES 1292763 REFUNDABLE PARKING DEPOSITS 582000 1874763 X 34411892 2202036 18415 2220451 32191441 0 32191441 34515228 795082 795082 33720146 0 33720146 PART X, LINE 2: THE COMPANY IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND APPLICABLE STATE STATUES. ACCORDINGLY, THE ACCOMPANYING FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION OR LIABILITY FOR FEDERAL AND STATE INCOME TAXES. THE COMPANY HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX OBLIGATIONS AT DECEMBER 31, 2019. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 18,415. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 18,415. NET ASSETS RELEASED 776,667. 88678 88678 6650 5525 2004 7437 7437 500 3736 96115 96115 6650 6025 5740 18415 -18415 1 BOYS & GIRLS CLUB OF CENTRAL CAROLINA 1414 BRAGG STREET SANFORD NC 27330 561923703 8000 SUPPORT CHILD AND YOUTH PROGRAMS CHATHAM CARES COMMUNITY PHARMACY 127 E RALEIGH STREET SILEY CITY NC 27344 412170926 8100 RENT & UTILITIES FOR CLINIC TO PROVIDE FREE MEDICATION CHATHAM COUNTY COUNCIL ON AGING INC PO BOX 715 PITTSBORO NC 27312 561084260 9800 PROVIDE RESPITE FOR CAREGIVERS; MEALS & IN-HOME AID FOR SENIORS CHATHAM COUNTY LITERACY COUNCIL INC PO BOX 1696 PITTSBORO NC 27312 581870076 5000 RECRUIT NEW STUDENTS & TUTORS CHATHAM OUTREACH ALLIANCE (CORA) 40 CAMPT DRIVE PITTSBORO NC 27312 561668767 7500 FOOD PURCHASE EL FUTUROINC 136 E CHAPEL HILL STREET DURHAM NC 27701 800122334 8000 SALARY FOR STAFF PILOTING A WALK-IN-CLINIC MODEL LEGAL AID OF NC INC 224 S DAWSON STREET RALEIGH NC 27601 311784161 5000 PROVIDE SALARY SUPPORT REBUILDING TOGETHER OF THE TRIANGLE INC 150 DONMOOR COURT GARNER NC 27529 561955629 5000 HOME REPAIRS FOR SENIORS THE LEARNING TRAIL INC PO BOX 3061 CHAPEL HILL NC 27515 471642083 5000 PURCHASE FURNITURE/EQUIPMENT FOR EARLY CHILDHOOD CENTER WEST CHATHAM FOOD PANTRY 126 VILLGE LAKE ROAD SILER CITY NC 27344 510634273 8000 FOOD PURCHASE 10 PART I, LINE 2: THE ORGANIZATION PROVIDES FUNDS TO IDENTIFIED COMMUNITY GROUPS IN NEED OF ADDITIONAL SUPPORT. IN THE EVENT THAT THE ORGANIZATION LEARNS THAT FUNDS ARE NOT UTILIZED FOR THE INTENDED PURPOSES, FUTURE AWARDS WOULD BE RESTRICTED TO THOSE ORGANIZATIONS. X 0 0 0 0 0 0 0 1 0 ROBERT ZIMMER CEO EXECUTIVE DIRECTOR 201112 0 21321 0 537 0 6028 0 8325 0 237323 0 0 0 ADAM MELTON ASSOCIATE EXECUTIVE DIRECT 118709 0 12400 0 85 0 241 0 24408 0 155843 0 0 0 PART I, LINE 7 THE EXECUTIVE DIRECTOR AND DEPARTMENTAL HEADS ARE ELIGIBLE FOR PERFORMANCE BONUSES BASED ON AGREED UPON GOALS FOR THE YEAR. A NORTH CAROLINA MEDICAL CARE COMMISSION 521309402 2010-10-21 19930000 SEE PART VI 0 0 0 B NORTH CAROLINA MEDICAL CARE COMMISSION 521309402 65820YKU9 2014-09-10 15495000 SEE PART VI 0 0 0 C NORTH CAROLINA MEDICAL CARE COMMISSION 521309402 65820YQW9 2019-10-23 50728876 SEE PART VI 0 0 0 A 19930000 558593 398600 1258461 17714346 2012 0 0 1 1 B 40000 15505610 1223896 309859 15002641 2014 1 0 0 1 C 49889252 848124 49880752 1 1 1 1 A 0 0 0 0 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0 0 1 C 0 0 0 0 0.00000 0.00000 0 0 1 A 0 1 0 0 1 0 0 0 1 B 0 1 0 0 1 0 0 0 1 C 0 1 0 0 0 0 0 0 1 A 0 B 0 C 0 SCHEDULE K, PART I, LINE C, COLUMN C, DESCRIPTION OF PURPOSE: IN OCTOBER 2019, THE COMPANY ISSUED $45,990,000 OF TAX-EXEMPT, ADJUSTABLE RATE FIXED MORTGAGE REVENUE REFUNDING BONDS ("2019A BONDS") THROUGH THE NORTH CAROLINA MEDICAL CARE COMMISSION. THE SERIES 2019A BONDS WERE ISSUED WITH A PREMIUM OF $4,738,876. THE PROCEEDS OF THE SERIES 2019A BONDS WERE TO BE USED TO ADVANCE REFUND AND DEFEASE THE SERIES 2010A BONDS. SCHEDULE K, PART I, LINE A, COLUMN A, DESCRIPTION OF PURPOSE: IN OCTOBER 2010, THE ORGANIZATION ISSUED $19,930,000 RETIREMENT FACILITIES FIRST MORTGAGE REVENUE BONDS (GALLOWAY RIDGE PROJECT) SERIES 2010C AS A BANK QUALIFIED LOAN THROUGH THE NORTH CAROLINA MEDICAL CARE COMMISSION. THIS LOAN IS DRAWN UPON AS NEEDED BY THE COMPANY. PROCEEDS WERE USED TO PAY A PORTION OF THE OUTSTANDING LOANS FROM THE BANK OF SCOTLAND, REIMBURSE THE COMPANY FOR COSTS INCURRED FOR PHASE II CONSTRUCTION AND PAY OTHER COSTS ASSOCIATED WITH ISSUANCE OF THE 2010C BONDS. SCHEDULE K, PART I, LINE B, COLUMN B, DESCRIPTION OF PURPOSE: IN SEPTEMBER 2014, THE ORGANIZATION ISSUED $15,495,000 OF TAX-EXEMPT, ADJUSTABLE RATE FIRST MORTGAGE REVENUE REFUNDING BONDS THROUGH THE NORTH CAROLINA MEDICAL CARE COMMISSION. OF THE TOTAL AMOUNT, $15,000,000 WAS USED TO REFUND THE SERIES 2010B BONDS. THE REMAINING AMOUNTS WERE USED FOR COSTS OF ISSUANCE AND TO SET UP A DEBT SERVICE REFUND. FORM 990, PART VI, SECTION B, LINE 11B THE RETURN WAS PREPARED BY AN INDEPENDENT ACCOUNTANT WITH ASSISTANCE AND OVERSIGHT BY MANAGEMENT. UPON COMPLETION, THE RETURN WAS REVIEWED BY MANAGEMENT AND DISTRIBUTED ELECTRONICALLY TO THE MEMBERS OF THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS WERE GIVEN TIME TO REVIEW, DISCUSS, AND COMMENT PRIOR TO THE FORM BEING ELECTRONICALLY FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS REVIEWED BY ALL BOARD MEMBERS ANNUALLY. EACH BOARD MEMBER SIGNS A STATEMENT INDICATING THE UNDERSTANDING OF AND COMPLIANCE WITH THE POLICY. THE CONFLICT OF INTEREST POLICY IS BASED UPON THE IRS MODEL CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 FOR 2019, THE CEO/EXECUTIVE DIRECTOR'S POSITOIN WAS REVIEWED BY THE PRESIDENT AND BOARD CHARIMAIN AND APPROVED BY THE BOARD. OTHER KEY EMPLOYEES HAVE AN ANNUAL REVIEW BY THE CEO/EXECUTIVE DIRECTOR & COMPARABILITY DATA IS REVIEWED ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION C, LINE 18 PHOTOCOPIES OF THE ORGANIZATION'S FORM 1023, FORM 990 AND FORM 990-T ARE AVAILABLE UPON REQUEST. RECENT FILINGS OF THE FORM 990 CAN BE ACCESSED THROUGH GUIDESTAR.ORG, A NON-PROFIT WEBSITE. FORM 990, PART VI, SECTION C, LINE 19 BYLAWS, WITH ANY CHANGES OR UPDATES, ARE MAINTAINED IN THE RESIDENT LIBRARY AND ARE ALSO AVAILABLE BY REQUEST. THE CONFLICT OF INTEREST POLICY IS INCLUDED IN THE ANNUAL DISCLOSURE STATEMENT. FINANCIAL STATEMENTS ARE PROVIDED QUARTERLY TO THE PRIMARY CREDITOR, BOARD AUDIT & FINANCE COMMITTEE, AND THE RESIDENT FINANCE COMMITTEE AND PROVIDED QUARTERLY TO THE BOARD. THE ANNUAL AUDIT IS PROVIDED ANNUALLY IN THE DISCLOSURE STATEMENT. FORM 990, PART XI, LINE 9: NET ASSETS RELEASED FROM RESTRICTION -776,667. OTHER ADJUSTMENT -21.