2020-10-26T13:10:44-05:00 2019-12-31 390859910 BAKER TILLY US LLP 1570 FRUITVILLE PIKE SUITE 400 LANCASTER PA 17601 990 2019-01-01 570337132 BISHOP GADSDEN EPISCOPAL RETIREMENT COMMUNITY BISH 8434066298 1 BISHOP GADSDEN WAY CHARLESTON SC 29412 SARAH TIPTON PRESIDENT/CEO 8434066298 2020-10-22 1 KERRI N BOGDA CPA P00760402 7177404863 73.101.37.214 2020-10-22 06:59:58 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 F58787FA80410BAE38B710EAF9FCC5760AD3BCDF 2019 2021-01-29 14:40:06Z SARAH TIPTON 1 BISHOP GADSDEN WAY CHARLESTON SC 29412 49039765 0 X WWW.BISHOPGADSDEN.ORG X 1943 SC OPERATION OF A FAITH-BASED RETIREMENT FACILITY PROVIDING HOUSING AND HEALTH CARE SERVICES 13 13 569 288 0 0 1958913 5986690 35574912 36356672 2019644 1541791 214794 259662 39768263 44144815 626001 484565 0 0 16216131 18170294 0 0 299834 19267996 19880212 36110128 38535071 3658135 5609744 173478933 240251184 132780319 186514941 40698614 53736243 X BISHOP GADSDEN, A LIFE CARE RETIREMENT COMMUNITY, EMBRACES GOD'S CALL TO MINISTRY. WE AFFIRM POSITIVE LIVING FOR ALL WHO LIVE AND WORK HERE. WE SERVE WITH INTEGRITY. WE EXERCISE WISE STEWARDSHIP. WE REACH OUT WITH A GENEROUS SPIRIT. 0 0 31509876 0 36356672 FOUNDED BY THE FOURTH EPISCOPAL BISHOP OF SOUTH CAROLINA IN 1850, BISHOP GADSDEN EPISCOPAL RETIREMENT COMMUNITY UPHOLDS THE TRADITION OF FAITH-BASED, NOT-FOR-PROFIT ORGANIZATIONS DEDICATED TO THE WELL-BEING OF THOSE PERSONS WHO, BECAUSE OF AGE, PERSONAL CONDITIONS, HEALTH AND THEIR EXPRESS DESIRE, CHOOSE TO RESIDE IN A RETIREMENT COMMUNITY. BISHOP GADSDEN IS A MISSION-DRIVEN, NOT PROFIT-DRIVEN, ORGANIZATION. IT HAS A LONG-TERM OBLIGATION TO ITS RESIDENTS AND IS COMMITTED TO REMOVING FINANCIAL BARRIERS TO RESIDENCY. ITS ROOTS IN THE GREATER CHARLESTON COMMUNITY SPAN OVER 165 YEARS AND, THROUGH THE YEARS, IT HAS RESPONDED TO SPECIFIC NEEDS OF THE GREATER COMMUNITY. IT HAS LONG BEEN OPEN TO ALL MEN AND WOMEN WITHOUT REGARD TO RACE, CREED, RELIGIONS, SEXUAL PREFERENCE, OR NATIONAL ORIGIN.RETIREMENT COMMUNITY BISHOP GADSDEN SERVES APPROXIMATELY 500 SENIOR ADULTS, 62 YEARS OF AGE AND OLDER, RESIDING IN FOUR LEVELS OF CARE: INDEPENDENT COMMUNITY (260 UNITS), ASSISTED LIVING (80 UNITS), MEMORY SUPPORT (19 BEDS), AND SKILLED NURSING CARE (50 BEDS). BISHOP GADSDEN OPERATES TO MEET THE PRIMARY NEEDS OF SENIOR CITIZENS BY PROVIDING (1) RESIDENTIAL FACILITIES DESIGNED TO MEET PHYSICAL, EMOTIONAL, RECREATIONAL, SOCIAL, RELIGIOUS, AND SIMILAR NEEDS OF THE ELDERLY, (2) ACCESS TO HEALTHCARE SERVICES AS NEEDED, (3) ASSURANCE THAT THE ORGANIZATION IS RUN IN A FISCALLY RESPONSIBLE MANNER, AND (4) THE COMMITMENT OF FINANCIAL SECURITY TO ANY RESIDENT WHO RUNS OUT OF MONEY THROUGH NO FAULT OF HIS/HER OWN. 484565 484565 0 RESIDENT ASSISTANCE PROGRAM: BISHOP CHRISTOPHER GADSDEN FOUNDED THE HOME FOR ORPHANS AND WIDOWS IN 1850 TO ASSIST THOSE IN NEED. HIS VISION FOR A CARING COMMUNITY IS THE HEART AND SOUL OF THE ORGANIZATION NOW CALLED BISHOP GADSDEN. AT THE CORE OF BISHOP GADSDEN IS THE BELIEF AND EXECUTION OF THE CHARITABLE MISSION.SINCE 1995, BISHOP GADSDEN'S RESIDENT ASSISTANCE FUND HAS DONATED MORE THAN $5.16 MILLION IN CHARITABLE CARE TO RESIDENTS FACING FINANCIAL DIFFICULTIES. THE RESIDENT ASSISTANCE FUND ALLEVIATES ANY ANXIETIES RESIDENTS AND THEIR FAMILIES HAVE BY ASSURING THEM THAT THEY WILL CONTINUE TO RECEIVE THE CARE THEY NEED REGARDLESS OF WHETHER THEY CAN PAY. THROUGH THE CONTINUED EFFORTS OF BISHOP GADSDEN RESIDENTS, FAMILIES, STAFF, AND OTHER ORGANIZATIONS, THE RESIDENT ASSISTANCE FUND CONTINUES TO BE A HIGH PRIORITY. THIS IMPERATIVE FUND ALLOWS BISHOP GADSDEN TO ASSIST RESIDENTS AND FUTURE RESIDENTS WHO, BY NO FAULT OF THEIR OWN, CAN NO LONGER AFFORD THEIR CONTINUED CARE, WHILE ALSO SUPPORTING OUTSIDE CHARITABLE ORGANIZATIONS.ALL RESIDENTS WHO ARE RECEIVING FINANCIAL SUPPORT OR ASSISTANCE ARE BETWEEN THE AGES OF 73-98. THEY COME FROM THE GREATER CHARLESTON AREA, ARE BOTH MALE AND FEMALE, AND CROSS ALL SOCIOECONOMIC LINES. THEIR QUALIFICATIONS RANGE FROM HAVING A PAST STRONG COMMITMENT TO THEIR CHURCH COMMUNITY THROUGH VOLUNTEERING TIME AND TALENTS TO RESIDENTS WHO HAVE MADE SIGNIFICANT CONTRIBUTIONS TO THE CHARLESTON AREA. THEIR CONTRIBUTIONS MAY BE OF AN ARTISTIC NATURE, ONE OF PUBLIC SERVICE, OR THE ABILITY TO HAVE CREATED A POSITIVE PHILOSOPHICAL CHANGE. BISHOP GADSDEN WILL CONTINUE TO EXTEND ASSISTANCE TO RESIDENTS, ACTING ON THE FIRM BELIEF THAT REMOVING ECONOMIC BARRIERS TO RESIDENCY IS PART OF ITS MISSION. 0 0 0 CHARITABLE GIVING AND GENEROUS SPIRIT PROGRAMS: THROUGHOUT BISHOP GADSDEN'S EXISTENCE, A GIVING COMMITMENT HAS BEEN ON THE FOREFRONT RESULTING IN OVER $8,505,768 IN CHARITABLE CARE AND GIFTS BEING RAISED FOR AND DISTRIBUTED TO OTHER NON-PROFIT ORGANIZATIONS IN OUR LOCAL COMMUNITY.THE CHARITABLE MISSION COMMITTEE'S NONPROFIT SELECTION CHAIR AND FELLOW RESIDENTS SELECT A SMALL GROUP (5 TO 7) OF NONPROFITS FROM A LIST OF 30 TO 40 NONPROFIT GRANT APPLICATIONS TO SUPPORT EACH YEAR. LED BY RESIDENTS, WITH ASSISTANCE FROM STAFF, THE CHARITABLE MISSION COMMITTEE SETS A FUNDRAISING GOAL. IN 2019, THIS IMPORTANT COMMITTEE DISBURSED $286,111 IN CASH AND $582,301 IN IN-KIND ITEMS. THESE FUNDS WERE ALLOCATED AS FOLLOWS: $75,000 TO BARRIER ISLANDS FREE MEDICAL CLINIC, $65,000 TO RONALD MCDONALD HOUSE - CHARLESTON, $25,715 TO ONE80 PLACE, $20,000 TO SEA ISLAND HABITAT FOR HUMANITY, $20,000 TO FISHER HOUSE CHARLESTON, WALK TO END ALZHEIMER'S $3,200, FRESHSTART VISIONS $3,700, LOWCOUNTRY FOOD BANK $4,411, LOWCOUNTRY ORPHAN RELIEF $4,285, AND TOYS FOR TOTS 580 TOYS.IN ADDITION TO CHARITABLE CAUSES THAT SUPPORT OUTSIDE ORGANIZATIONS, RESIDENTS AND STAFF CONTRIBUTE TO THE STRONGHEART EMPLOYEE EDUCATION SCHOLARSHIP, WITH $83,924 BEING DISTRIBUTED TO EMPLOYEES FOR EDUCATION PURPOSES.RESIDENTS AND STAFF CONTRIBUTE TO MORE THAN 1,000 LOCAL AND NATIONAL CHARITABLE ORGANIZATIONS - BISHOP GADSDEN'S CULINARY DEPARTMENT DONATED 34,492 LBS OF FOOD, EQUALING A GIFT OF $234,545, AND 51,738 MEALS. THE ORGANIZATION ALSO PROVIDES OTHER SUPPORT TO THE LOCAL COMMUNITY, SUCH AS THE FREE USE OF MEETING SPACE TO LOCAL CHARITIES, STUDENT INTERNSHIPS FROM LOCAL COLLEGES, TUTORING SERVICES TO THE NEIGHBORING MIDDLE SCHOOL, SPACE FOR AFTER-SCHOOL ACTIVITIES, PERFORMANCE SPACE FOR SCHOOLS AND OTHER LOCAL GROUPS, FOOD DONATIONS TO LOCAL FOOD BANKS, AND OTHER ACTIVITIES MEANT TO CEMENT THE ORGANIZATION'S RELATIONSHIP WITH THE LOCAL COMMUNITY. EXECUTIVE STAFF ALSO SIT ON COMMUNITY BOARDS SUCH AS ROPER ST. FRANCIS, VANTAGE POINT FOUNDATION, LOWCOUNTRY ASSOCIATION OF FUNDRAISING PROFESSIONALS, AND LEADINGAGE SC. 31994441 1 1 0 1 0 0 0 0 0 1 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 130 0 569 1 0 0 0 0 0 0 0 0 0 1 0 0 0 X 13 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 SC X SARAH TIPTON CEO 8437623300 1 BISHOP GADSDEN WAY CHARLESTON SC 29412 C WILLIAM TRAWICK PRESIDENT/CEO (RET. 9/2019) 50.00 X 1005426 0 200104 SARAH E H TIPTON VICE PRES./COO/CEO (AS OF 9/2019) 50.00 X 247498 0 38323 LYNNE L KERRISON CFO 50.00 X 250024 0 31841 JAMES A EPPER DIRECTOR OF CULINARY SERVICES 50.00 X 134138 0 15405 LAURA A WILSON MARKETING DIRECTOR 40.00 X 123092 0 24295 JONNA COOK HEALTH SERVICE DIRECTOR 40.00 X 123527 0 20199 DANIEL F LARRABEE EVS DIRECTOR 40.00 X 125156 0 11145 BERNARD C KRAFSIG IT DIRECTOR 40.00 X 113053 0 9309 MARGARET P BLACKMER CURRENT CHAIR 1.00 X X 0 0 0 BARBARA CHRISTIE VICE CHAIR 1.00 X X 0 0 0 BRIAN HUSSAIN SECRETARY/TREASURER 1.00 X X 0 0 0 CRAIG ASCHE BOARD MEMBER 1.00 X 0 0 0 MARGARET SEIDLER BOARD MEMBER 1.00 X 0 0 0 RIGHT REV SKIP ADAMS BOARD MEMBER 1.00 X 0 0 0 ROBERT VINGI BOARD MEMBER 1.00 X 0 0 0 DR CHARLES C GEER BOARD MEMBER 1.00 X 0 0 0 DAVID BENNETT BOARD MEMBER 1.00 X 0 0 0 MELINDA LUCKA KELLEY BOARD MEMBER 1.00 X 0 0 0 BARBARA EDLUND BOARD MEMBER 1.00 X 0 0 0 PAUL MCMANUS BOARD MEMBER 1.00 X 0 0 0 THE REV ALASTAIR VOTAW BOARD MEMBER 1.00 X 0 0 0 2121914 0 350621 11 0 1 0 SAMET CORPORATION 2457 AVIATION AVE CHARLESTON SC 29406 GENERAL CONTRACTOR 7667375 RLPS ARCHITECTS 250 VALLEYBROOK DR LANCASTER PA 17601 ARCHITECTURAL SERVICES 2025209 S K BURT CONSTRUCTION LLC 201 BAYBERRY RUN SUMMERVILLE SC 29485 CONSTRUCTION SERVICES 1141970 CAROLINA CHILLERS INC PO BOX 50550 SUMMERVILLE SC 29485 HVAC CONTRACTORS 712340 TURF TECHS LLC 127 HAMPTON HALL LN MONCKS CORNER SC 29461 LANDSCAPING SERVICES 615288 26 5986690 1452617 5986690 RESIDENT REVENUE 623000 36356672 36356672 36356672 852782 852782 81546 4166 77380 77380 77380 5500000 4620413 190578 879587 -190578 689009 689009 102067 79793 22274 22274 BUILDING SERVICES 900099 24976 24976 LATE CHARGES 900099 15887 15887 COVERED PARKING 900099 9200 9200 109945 109945 160008 44144815 36356672 0 1826330 484565 484565 1773219 1410268 345461 17490 13019354 10354493 2536447 128414 280346 222963 54618 2765 1694351 1347544 330095 16712 1403024 1115847 273339 13838 8161 8161 59800 59800 5011 5011 121999 121999 700433 465836 230647 3950 189277 189277 2058811 1643844 368108 46859 333583 2549 328800 2234 3839369 3838869 500 117623 78402 37365 1856 1396748 1396748 7064041 6789891 274150 754148 754148 FOOD & BEVERAGE 2192962 2177086 5158 10718 MEDICAL EXPENSES 408628 408628 RESIDENT EXPENSES 174262 99552 22022 52688 EDUCATION 127876 26261 100050 1565 327480 131095 195640 745 38535071 31994441 6240796 299834 2407867 7602646 4464826 1485355 9886 2198027 945864 1065430 131282 169019 241994 410523 198859931 65847311 120200363 133012620 13460034 69697164 31616817 23562342 0 1048058 173478933 240251184 3199089 3445526 40937583 46293608 45085972 96015631 43557675 40760176 132780319 186514941 X 30057870 36450206 10640744 17286037 40698614 53736243 173478933 240251184 X 5609744 6407136 1020749 X 0 1 X 1 0 X 1230499 869811 1557054 1958913 6001690 11617967 26178561 31477519 34135858 35574912 36356672 163723522 27409060 32347330 35692912 37533825 42358362 175341489 23288 18348 233712 275348 4708 1050490 1420572 2594812 5070582 27996 1050490 1438920 2828524 5345930 169995559 1040393 882970 993492 1066362 934328 4917545 1040393 882970 993492 1066362 934328 4917545 1079760 940803 137674 254589 262075 2674901 29529213 34171103 36824078 38854776 43554765 182933935 0.92930 0.93520 0.02690 0.02860 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: FORFEITURES TERM INC MISC - 2015 AMOUNT: $ 1,079,760. 2016 AMOUNT: $ 940,803. MISCELLANEOUS REVENUE - 2017 AMOUNT: $ 52,511. 2018 AMOUNT: $ 117,530. 2019 AMOUNT: $ 110,044. CHAPEL SERVICES FEE - 2017 AMOUNT: $ 4,000. 2018 AMOUNT: $ 6,750. 2019 AMOUNT: $ 3,303. TOBACCO SURCHARGE REV - 2017 AMOUNT: $ 4,130. 2018 AMOUNT: $ 2,535. 2019 AMOUNT: $ 2,715. POSTAGE SALES - 2017 AMOUNT: $ 6,970. 2018 AMOUNT: $ 8,664. 2019 AMOUNT: $ 9,012. CLINIC HOURS INCOME - 2017 AMOUNT: $ 10,050. 2018 AMOUNT: $ 2,746. 2019 AMOUNT: $ 0. INDEPENDENT LIVING - 2017 AMOUNT: $ 16,801. 2018 AMOUNT: $ 5,975. 2019 AMOUNT: $ 6,389. PARKING - 2017 AMOUNT: $ 10,300. 2018 AMOUNT: $ 10,700. 2019 AMOUNT: $ 9,200. LATE CHARGES - 2017 AMOUNT: $ 32,912. 2018 AMOUNT: $ 23,801. 2019 AMOUNT: $ 15,887. GROSS SALES OF INVENTORY - 2018 AMOUNT: $ 75,888. 2019 AMOUNT: $ 102,067. WORKERS COMP REBATES - 2019 AMOUNT: $ 3,458. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 5011 5011 0 PART II-B, LINE 1: THE ORGANIZATION PAYS DUES TO LEADINGAGE AND LEADINGAGE SC, ORGANIZATIONS WHICH ADVOCATE FOR SENIOR CITIZENS. PORTIONS OF THE DUES PAID ARE ALLOCATED TO LOBBYING EXPENSES. 5733820 71295 574700 127500 6252315 5854200 47233 -159613 8000 5733820 5306975 140970 412255 6000 5854200 5105737 49143 158095 6000 5306975 4665021 647124 -200408 6000 5105737 0.00000 0.74240 0.25760 0 0 5384086 5384086 155223791 58096853 97126938 17594382 7267915 10326467 20657672 482543 20175129 133012620 CF GLOBAL MULTI-ASSET FUND 23562342 F 23562342 GIFT ANNUITIES 397752 OTHER LIABILITIES 349560 REFUNDABLE ENTRANCE FEES 40011664 RENTAL DEPOSITS 1200 40760176 51534660 6407136 898750 7305886 44228774 -83959 -83959 44144815 38497031 83959 83959 38413072 121999 121999 38535071 PART V, LINE 4: THE ENDOWMENT ASSETS ARE INVESTED IN A MANNER THAT IS INTENDED TO PRESERVE AND GROW CAPITAL, STRIVE FOR CONSISTENT ABSOLUTE RETURNS, PRESERVE PURCHASING POWER BY STRIVING FOR LONG-TERM RETURNS WHICH EITHER MATCH OR EXCEED THE SET PAYOUT, CONTROL FEES AND INFLATION WITHOUT PUTTING THE PRINCIPAL VALUE AT PRUDENT RISK, AND DIVERSIFY INVESTMENTS CONSISTENT WITH COMMONLY ACCEPTED INDUSTRY STANDARDS TO MINIMIZE THE RISK OF LARGE LOSSES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -42,309. INVESTMENT FEES -121,999. CHANGE IN VALUE OF INTEREST SWAP 1,048,058. APPRAISAL VARIANCE 15,000. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -79,793. RENTAL EXPENSES -4,166. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 79,793. RENTAL EXPENSES 4,166. PART XII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT FEES 121,999. 1 FINANCIAL ASSISTANCE 8 484565 PART I, LINE 2: FINANCIAL ASSISTANCE IS GIVEN TO RESIDENTS WHO QUALIFY FOR RESIDENCY IN EVERY WAY EXCEPT FINANCIAL. ALL PROSPECTIVE RESIDENTS SEEKING FINANCIAL ASSISTANCE UNDERGO THE SAME SCREENING THAT ALL OTHER PROSPECTIVE RESIDENTS DO. IF A CURRENT RESIDENT SEEKS FINANCIAL ASSISTANCE, BISHOP GADSDEN REQUIRES AN UPDATE OF HIS/HER CONFIDENTIAL FINANCIAL INFORMATION. WE MAY ALSO REQUIRE FURTHER DOCUMENTS IN THE FORM OF TAX RETURNS AND/OR BANK STATEMENTS. A RESIDENT IS NEVER ASKED TO LEAVE BISHOP GADSDEN IF HE/SHE OUTLIVES RESOURCES THROUGH NO FAULT OF HIS/HER OWN. X X X 1 1 0 0 0 0 0 1 0 C WILLIAM TRAWICK PRESIDENT/CEO (RET. 9/2019) 392492 0 0 0 612934 0 191166 0 8938 0 1205530 0 0 0 SARAH E H TIPTON VICE PRES./COO/CEO (AS OF 9/2019) 179981 0 25000 0 42517 0 25000 0 13323 0 285821 0 0 0 LYNNE L KERRISON CFO 163696 0 25000 0 61328 0 15484 0 16357 0 281865 0 0 0 PART I, LINES 4A-B C WILLIAM TRAWICK (PRESIDENT/CEO), LYNNE KERRISON (CFO), AND SARAH E. H. TIPTON (VICE PRESIDENT/COO/CEO) PARTICIPATE IN A 457(B) DEFERRED COMPENSATION PLAN. AT THE END OF THE YEAR, THE TOTAL AMOUNT OF EMPLOYER CONTRIBUTIONS TO THE 457(B) PLANS WERE $14,167, $17,000 AND $17,000, RESPECTIVELY. THIS COMPENSATION IS REFLECTED AS PART OF THE DEFERRED COMPENSATION REPORTED ON FORM 990, PART VII AND IN SCHEDULE J, PART II, COLUMN (C). C. WILLIAM TRAWICK RECEIVED SEVERANCE UPON HIS RETIREMENT. THE AMOUNT OF HIS SEVERANCE PAY WAS $483,000. NOTE THAT ALTHOUGH MR. TRAWICK'S OVERALL COMPENSATION EXCEEDED THE $1M THRESHOLD FOR REPORTING AND PAYING EXCISE TAX, THE SEVERANCE PORTION DID NOT MEET THE REQUIREMENTS TO BE REPORTED AS AN EXCESS PARACHUTE PAYMENT AND THE COMPENSATION PORTION DID NOT SEPARATELY MEET THE THRESHOLD FOR THE EXCESS COMPENSATION EXCISE TAX. PART I, LINE 7 THE CEO BONUS IS DETERMINED BY THE BOARD. THE BOARD ALSO DETERMINES THE DISCRETIONARY BONUS POOL FOR THE EMPLOYEES. THE EXECUTIVE COMMITTEE TAKES INTO ACCOUNT THE CEO'S PERFORMANCE REPORT AND FEEDBACK FROM VARIOUS INTERNAL SOURCES. THE DECISION IS THEN MADE HOW TO ALLOCATE THE BONUS POOL OF FUNDS AMONG THE CEO AND EMPLOYEES AT THE DIRECTOR LEVEL AND ABOVE. THE IS DOCUMENTED IN THE BOARD MINUTES. A SC JOBS - ECONOMIC DEVELOPMENT AUTHORITY 570960018 2014-05-07 56563209 REFUNDING OF SERIES 2002 AND CONSTRUCTION OF QUAY APARTMENT BUILDINGS 0 0 0 B SC JOBS - ECONOMIC DEVELOPMENT AUTHORITY 570960018 2016-07-28 11162500 TO REFUND THE SERIES 2002F1 BONDS 0 0 0 C SC JOBS - ECONOMIC DEVELOPMENT AUTHORITY 570960018 2017-04-03 12015486 REFUNDING OF SERIES 2007 BOND ISSUE 0 0 0 D SC JOBS - ECONOMIC DEVELOPMENT AUTHORITY 570960018 837031ZA4 2019-12-20 105981487 CONSTRUCTION COSTS ASSOCIATED WITH REPOSITIONING PROJECT 0 0 0 A 33094769 56563209 660000 42791783 13111426 2015 1 0 1 1 B 2620886 11162500 162181 11000319 2016 1 0 1 1 C 2168633 12015486 165486 11850000 2017 1 0 1 1 D 105981487 4405146 3073951 1398828 13129307 1257718 82716537 2020 0 0 1 1 A 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 C 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 D 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 1 0 0 0 0 0 1 C 0 0 1 0 0 0 0 0 1 D 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 D 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: SC JOBS - ECONOMIC DEVELOPMENT AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 06/28/2017 X 1 14000 APPRAISAL X 11 1413617 NYSE X PIANO 1 25000 APPRAISAL 2 0 1 0 PART I, COLUMN (B): THE NUMBERS IN COLUMN B REPRESENT THE NUMBER OF CONTRIBUTORS. FORM 990, PART VI, SECTION B, LINE 11B AN INTERNAL REVIEW WAS PERFORMED BY THE ORGANIZATION'S ADMINISTRATIVE TEAM. A COPY OF FORM 990 WAS PROVIDED TO THE GOVERNING BODY FOR THEIR REVIEW BEFORE FILING THE FORM 990 WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C AT THE BEGINNING OF EACH BOARD YEAR, ALL MEMBERS OF THE BOARD OF TRUSTEES ARE REQUIRED TO COMPLETE A CONFLICT OF INTEREST STATEMENT. THE POLICY COVERS FAMILIES AND BUSINESS RELATIONSHIPS AS POTENTIAL SOURCES OF CONFLICT. AFTER THE STATEMENTS ARE TURNED IN, THEY ARE REVIEWED BY THE CHAIRMAN OF THE BOARD AND THE PRESIDENT/CEO. SHOULD A CONFLICT BE NOTED, THE CHAIRMAN AND PRESIDENT/CEO EITHER ASK THE BOARD MEMBER TO RESOLVE THE CONFLICT OR RECUSE HIM OR HERSELF FROM VOTING ON MATTERS WHERE THE CONFLICT EXISTS. FORM 990, PART VI, SECTION B, LINE 15 TO ENSURE COMPENSATION IS WITHIN FAIR MARKET VALUE FOR THE SENIOR LIVING INDUSTRY, THE BOARD OF TRUSTEES REVIEWS 990 DATA AND ASSOCIATION PUBLICATIONS. THE BOARD ALSO QUESTIONS LEADING CONSULTANTS IN OUR INDUSTRY AND PERFORMS SALARY REVIEWS. ALL DISCUSSIONS REGARDING COMPENSATION ARE DOCUMENTED IN BOARD MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE CONFLICT OF INTEREST POLICY AND THE FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. THE FINANCIAL STATEMENTS ARE ALSO POSTED ON THE ORGANIZATION'S WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -42,309. CHANGE IN VALUE OF INTEREST RATE SWAP 1,048,058. APPRAISAL VARIANCE 15,000.