2019-11-15T11:59:43-06:00 2018-12-31 410746749 CLIFTONLARSONALLEN LLP 220 SOUTH SIXTH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2018-01-01 420680440 WESLEY RETIREMENT SERVICES INC WESL 5152716789 5508 NORTHWEST 88TH STREET JOHNSTON IA 50131 NICK HARSHFIELD CFO 5152716789 2019-11-15 1 KURT BENNION P01469618 6123764500 2019-11-15 67.137.57.251 2019-11-15 08:40:27 PS P CF5DC47B04BEE981237F6452D320A88985A44A86 92EDA96F2591B15C33D80D338693BB85F692AD13 2018 2020-04-17 16:48:07Z ROB KRETZINGER 5508 NORTHWEST 88TH STREET JOHNSTON IA 50131 77791822 0 X WWW.WESLEYLIFE.ORG X 1947 IA PROVIDING HOUSING, HEALTH CARE, AND SUPPORT SERVICES FOR OLDER ADULTS. 9 9 0 564 0 0 3581215 1076184 72185959 75094792 3671132 1561424 0 0 79438306 77732400 13983 14104 0 0 40134893 42063641 0 0 615691 35673559 37363396 75822435 79441141 3615871 -1708741 259918378 283084508 238518304 267268002 21400074 15816506 X WRS WAS ESTABLISHED IN 1947 AS A FAITH-BASED, NON-PROFIT ORGANIZATION AND HAS SINCE DEDICATED ITSELF TO PROVIDING HOUSING, HEALTH CARE, AND SUPPORT SERVICES EXCLUSIVELY TO OLDER ADULTS IN WAYS THAT PROMOTE INDEPENDENCE, HEALTH AND WELLNESS FOR EVERY IOWAN WE SERVE. WE CONTINUE TO WITNESS HOW OUR FAITH CONNECTS US TO OUR MISSION AND GUIDES US AS WE SERVE OUR CUSTOMER. OUR VISION IS TO "TRANSFORM THE AGING EXPERIENCE" SO OLDER ADULTS LIVE BETTER LONGER. 0 0 72542364 14104 75094792 WESLEY RETIREMENT SERVICES, INC. (WRS) WAS ESTABLISHED IN 1947 AS A FAITH-BASED, NON-PROFIT ORGANIZATION AND HAS SINCE DEDICATED ITSELF TO PROVIDING HOUSING, HEALTH CARE, AND SUPPORT SERVICES EXCLUSIVELY TO OLDER ADULTS IN WAYS THAT PROMOTE INDEPENDENCE AND A HEALTHY, ACTIVE LIFESTYLE FOR EVERYONE WE SERVE. WESLEYLIFE IS THE SOLE MEMBER OF WRS AND OF WESLEY COMMUNITY SERVICES, INC, (WCS) WHICH PROVIDES HOME AND COMMUNITY BASED SERVICES. WRS IS A 501(C)(3) NON-PROFIT ORGANIZATION THAT CURRENTLY OWNS AND OPERATES EIGHT CONTINUING CARE RETIREMENT COMMUNITIES (CCRCS) IN IOWA THAT OFFER A FULL CONTINUUM OF WELLNESS SERVICES. THOSE RETIREMENT COMMUNITIES ARE: WESLEY ACRES IN DES MOINES; HALCYON HOUSE IN WASHINGTON; HERITAGE HOUSE IN ATLANTIC; THE VILLAGE IN INDIANOLA; PARK CENTRE IN NEWTON; EDGEWATER, AN ACTIVE LIFE COMMUNITY IN WEST DES MOINES; HEARTHSTONE, A MINISTRY OF WESLEYLIFE IN PELLA; AND BRIO OF JOHNSTON, A WESLEYLIFE ACTIVE COMMUNITY. AS PART OF OUR MISSION, WE BELIEVE IT IS OUR RESPONSIBILITY TO MAKE THE CITIES AND COMMUNITIES IN WHICH WE OPERATE A BETTER PLACE TO LIVE. WE ARE GUIDED BY OUR CORE VALUES TO PROVIDE QUALITY SERVICES, DEMONSTRATE INTEGRITY, MAINTAIN DIGNITY, FOSTER COMMUNITY, AND DELIVER RESPONSIBLE STEWARDSHIP. WE SERVE OLDER IOWANS BY PROVIDING THEM THE QUALITY SERVICES THEY NEED WITH A SERVANT'S HEART. WE ARE COMMITTED TO QUALITY, EXCELLENCE, HOSPITALITY AND INNOVATION. WE FIRMLY BELIEVE THAT IT IS OUR RESPONSIBILITY TO BE GOOD STEWARDS OF THIS MISSION AND ONLY USE THE RESOURCES WE HAVE BEEN PROVIDED IN WAYS THAT WILL BETTER THE LIVES OF OUR CUSTOMERS. AS A NON-PROFIT ORGANIZATION, WE UNDERSTAND THAT OUR RESPONSIBILITY AND OBLIGATION TO OUR COMMUNITIES IS TO OPERATE WITH TOTAL TRANSPARENCY, HONESTY AND INTEGRITY IN PROVIDING THE BEST CARE POSSIBLE.BELOW REFLECTS SOME OF THE COMMUNITY BENEFITS FROM 2018:- MANY OLDER ADULTS SOMETIMES FACE SITUATIONS WHERE THEIR SAVINGS AND INCOME CAN NO LONGER COVER THE COST OF THEIR NEEDS. IN 2018, RESIDENTS RECEIVED $808,015 OF CHARITY CARE AS SUPPORTED THROUGH THE GOOD SAMARITAN AND GOOD SHEPHERD FUNDS TO ENSURE EACH PERSON COULD THRIVE IN THEIR HOME. WESLEY NEVER ASKED ANYONE TO LEAVE THEIR HOME DUE TO LACK OF FUNDS.- IN 2018, INCREASING OUR REACH TO UNDERSERVED COMMUNITY MEMBERS, MEDICAID DAYS INCREASED BY 2% OVER THE PRIOR YEAR TO APPROXIMATELY 39,000 DAYS. - WE PROVIDED MORE THAN 29,000 HOURS OF VOLUNTEER OPPORTUNITIES TO MEMBERS OF OUR SHARED COMMUNITY AT OUR COMMUNITY FOR HEALTHY LIVING.- WE COLLECTED AND DONATED VARIOUS ITEMS, INCLUDING CLOTHING, COATS, BOOKS, AND OTHER SUPPLIES, TO AREA CHARITIES. 72542364 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 0 0 X X NICK HARSHFIELD CFO 5152716789 5508 NORTHWEST 88TH STREET JOHNSTON IA 50131 KEVIN LAGREE CHAIR 1.00 4.00 X X 0 0 0 SUSAN WATSON SECRETARY/TREASURER 1.00 2.00 X X 0 0 0 CHAD RASMUSSEN PAST CHAIR 1.00 2.00 X X 0 0 0 KIP ALBERTSON DIRECTOR 1.00 2.00 X 0 0 0 ABBEY GILROY DIRECTOR 1.00 2.00 X 0 0 0 JODY LORENCE DIRECTOR 1.00 2.00 X 0 0 0 BOB RUCH DIRECTOR 1.00 2.00 X 0 0 0 DAVID STOUT DIRECTOR 1.00 2.00 X 0 0 0 DR CHRISTINA TAYLOR DIRECTOR 1.00 2.00 X 0 0 0 ROB KRETZINGER PRESIDENT & CEO 22.00 18.00 X 690019 564562 54687 NICK HARSHFIELD CFO 22.00 18.00 X 149454 122282 28472 NANCY BLOWERS-HAMILTON HEARTHSTONE/COTTAGES EXEC. DIR. 40.00 0.00 X 134358 0 31708 CHRISTINE MARSHALL HALCYON HOUSE EXECUTIVE DIRECTOR 40.00 0.00 X 115208 0 6141 KAREN BENTSEN HERITAGE EXECUTIVE DIRECTOR 40.00 0.00 X 105194 0 19624 TERESA KRUEGER BRIO EXECUTIVE DIRECTOR 40.00 0.00 X 103229 0 16912 1297462 686844 157544 6 0 1 0 SELECT REHABILITATION INC 550 FRONTAGE RD STE 2415 NORTHFIELD IA 60093 THERAPY SERVICES 3770568 GRAPE TREE MEDICAL STAFFING 2501 BOJI BEND DR STE 100 MILORD IA 51351 NURSING SERVICES 370677 SIGNATURE HEALTHCARE LLC 14225 UNIVERSITY AVE STE 130 WAUKEE IA 502638294 NURSING SERVICES 163963 CBS STAFFING 7517 DOUGLAS AVE STE 17 URBANDALE IA 50322 NURSING SERVICES 145195 DORSEY & WHITNEY 801 GRAND STE 4100 DES MOINES IA 503098002 LEGAL SERVICES 141091 9 1076184 151044 1076184 HEALTH CARE SERVICES 624100 73745264 73745264 MEALS INCOME 624100 983200 983200 OTHER RESIDENT SERVICES 900099 366328 366328 75094792 1427119 1427119 193727 0 59422 193727 -59422 134305 134305 77732400 75094792 0 1561424 14104 14104 885211 663909 221302 34056771 30116100 3561229 379442 739934 649626 82815 7493 3357974 3162266 133604 62104 3023751 2762241 233932 27578 124338 77889 46449 227057 49645 177412 300705 161801 138904 3994266 3707708 282626 3932 590684 450590 139474 620 3652512 3485317 162007 5188 472633 333379 138768 486 3075398 3010639 64044 715 273475 141203 121024 11248 109907 20786 87701 1420 5359812 5211860 147952 12147153 11869375 270885 6893 1798532 1763811 33702 1019 FOOD 4053196 4053196 EMPLOYEE RECRUITING 388626 355483 30126 3017 EMPLOYEE RELATIONS 105181 96210 8154 817 DUES & SUBSCRIPTIONS 99610 91115 7722 773 590311 294111 193254 102946 79441141 72542364 6283086 615691 4490283 5806557 2720900 6763618 596033 458664 4535119 3837312 317928 366175 303379 375895 335381782 136038612 179780854 199343170 51997348 54323742 2297646 1984963 1332770 2141344 11546118 7683068 259918378 283084508 12687141 14978277 16445768 18618677 131330237 139931276 265245 1039107 77789913 92700665 238518304 267268002 X 6855627 1884912 4832794 4582060 9711653 9349534 21400074 15816506 259918378 283084508 X -1708741 -4500076 625249 X 0 1 X 1 1 1 X 1877591 2432586 2408745 3581215 1076184 11376321 73110537 70517783 71605281 72185959 75094792 362514352 74988128 72950369 74014026 75767174 76170976 373890673 6800 40812 2600 1100 51312 0 6800 40812 2600 1100 51312 373839361 1444158 864531 1545089 2736543 1427119 8017440 1444158 864531 1545089 2736543 1427119 8017440 76432286 73814900 75559115 78503717 77598095 381908113 0.97890 0.97760 0.02100 0.02220 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 7786038 359273 -544515 7600796 7496991 182905 106142 7786038 7301951 175718 19322 7496991 9280086 150188 -212435 9217839 9028120 230315 21651 9280086 0.00000 1.00000 0.00000 0 0 4624242 4624242 276300003 107625565 168674438 17272466 3479402 13793064 36048712 24933645 11115067 1136359 1136359 199343170 CHARITABLE REMAINDER TRUST LIABILITY 67151 ANNUITY PAYMENT LIABILITY 105924 FAIR VALUE INTEREST RATE SWAP 3867797 ASSET RETIREMENT OBLIGATION 93575 ENTRY FEE ESCROW DEPOSITS 572951 REFUNDABLE ENTRY FEES 87993267 92700665 X PART V, LINE 4: THE EARNINGS FROM THE GOOD SAMARITAN/SHEPHERD ENDOWMENT ARE TRANSFERRED TO THE GOOD SAMARITAN/SHEPHERD RESERVE, WHICH IS USED TO ASSIST RESIDENTS OF MODEST MEANS WITH THEIR MONTHLY FEES IN ACCORDANCE WITH GUIDELINES ESTABLISHED BY THE BOARD OF DIRECTORS. EARNINGS FROM THE SARGENT MEMORIAL ENDOWMENT ARE USED FOR SIMILAR PURPOSES FOR WESLEY ACRES. EARNINGS FROM THE SCHEERER MEMORIAL ENDOWMENT ARE USED TO PURCHASE ITEMS FOR THE BENEFIT OF WESLEY ACRES RESIDENTS. EARNINGS FROM THE NURSING SCHOLARSHIP ENDOWMENT ARE USED TO ASSIST HALCYON AND WESLEY ACRES EMPLOYEES IN ADVANCING THEIR NURSING EDUCATION. EARNINGS FROM THE BAKER EMPLOYMENT ENDOWMENT ARE USED TO ASSIST EMPLOYEES OF WESLEY ACRES WITH SHORT-TERM FINANCIAL NEEDS. EARNINGS FROM THE PARK CENTRE AND VILLAGE BUILDING ENDOWMENTS ARE USED TO MAKE IMPROVEMENTS, UPGRADES AND REPAIRS TO THE BUILDINGS. EARNINGS FROM THE PARK CENTRE COMPUTER ENDOWMENT ARE USED TO PURCHASE COMPUTER HARDWARE. EARNINGS FROM NORRIS WELLNESS ENDOWMENT ARE USED TO SUPPORT A WELLNESS PROGRAM AT WESLEY ACRES. EARNINGS FROM THE GOOD SAMARITAN/CORA WAGNER TRUST ARE USED TO ASSIST RESIDENTS AT WESLEY ACRES. PART X, LINE 2: THE CORPORATION AND ITS AFFILIATES ARE GENERALLY EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND APPLICABLE SECTIONS OF THE STATE STATUTES. CONSEQUENTLY, NO PROVISION HAS BEEN MADE FOR INCOME TAXES. HOWEVER, THERE ARE IMMATERIAL AMOUNTS OF UNRELATED BUSINESS INCOME IN CERTAIN AFFILIATES THAT ARE TAXABLE. THE CORPORATION FOLLOWS THE ACCOUNTING STANDARD FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. WRS FILES INFORMATION RETURNS AS A TAX-EXEMPT ORGANIZATION. SHOULD THAT STATUS BE CHALLENGED IN THE FUTURE, ALL YEARS SINCE INCEPTION COULD BE SUBJECT TO REVIEW BY THE INTERNAL REVENUE SERVICE (IRS). 1 EQUITY TRANSFER TO ASSIST WITH CLIENT CARE RESOURCES PART I, LINE 2: THE ORGANIZATION DOES NOT HAVE AN ONGOING GRANT PROGRAM, BUT WHEN GRANTS ARE AWARDED POT,ENTIAL GRANTEES ARE EVALUATED BASED ON MISSION CONNECTIVITY AND ABILITY TO MAINTAIN OVERSITE TO ENSURE PROPER USE OF GRANT FUNDS. THE ORGANIZATION WILL BE ENGAGED IN THE PROGRAMMING THEY ARE SUPPORTING AND WILL ASK FOR FINANCIAL SUPPORT FROM RECIPIENTS TO SHOW PROPER USE OF THE FUNDS. X X X X X 0 1 0 0 0 0 0 0 0 ROB KRETZINGER PRESIDENT & CEO 283592 232030 394400 322691 12027 9841 12238 10012 17840 14597 720097 589171 320809 262480 NICK HARSHFIELD CFO 148190 121247 0 0 1264 1035 0 0 15660 12812 165114 135094 0 0 NANCY BLOWERS-HAMILTON HEARTHSTONE/COTTAGES EXEC. DIR. 121819 0 12350 0 189 0 4158 0 27550 0 166066 0 0 0 PART I, LINE 3 WESLEYLIFE DETERMINES THE CEO'S COMPENSATION. WESLEYLIFE, WCS AND WRS HAVE THE SAME BOARD MEMBERS. SEE SCHEDULE O FOR THE NARRATIVE RELATED TO FORM 990, PART VI, LINE 15 FOR FURTHER INFORMATION. PART I, LINE 4B THE FOLLOWING INDIVIDUAL RECEIVED CONTRIBUTIONS INTO A 457(F) DEFERRED COMPENSATION PLAN IN 2018: NICK HARSHFIELD - $10,000 ROB KRETZINGER, PRESIDENT/CEO OF WESLEY RETIREMENT SERVICES AND RELATED AFILLIATES, HAS PARTICIPATED IN A 457(F) DEFERRED COMPENSATION PROGRAM DATING BACK TO 2004 THIS WAS A LONG-TERM RETENTION PROGRAM THAT BECAME VESTED IN 2018 AND PROVIDED A PRE-TAX PAYMENT OF $583,290, SPLIT BETWEEN WESLEY RETIREMENT SERVICES AND RELATED AFFILIATES. THERE ARE TWO REMAINING VESTING PERIODS ON 1/2019 AND 1/2020 IN EQUAL PAYMENTS. HE IS RESPONSIBLE FOR HIS OWN TAX LIABILITY ON THE LUMP SUM PRE-TAX PAYMENT. A IOWA FINANCE AUTHORITY 521699886 46245WAV9 2003-07-31 22510000 IMPROVE FACILITIES, REFUND PRIOR ISSUES 10/29/92, 4/10/97, 11/6/97, 6/22/00 0 0 0 B IOWA FINANCE AUTHORITY 521699886 46246KXT4 2006-10-12 8780000 IMPROVE FACILITIES, REFUND PRIOR ISSUE OF $7,980,000 (7/31/03) 0 0 0 C IOWA FINANCE AUTHORITY 521699886 2007-04-27 1030000 PURCHASE FACILITIES 0 0 0 D IOWA FINANCE AUTHORITY 521699886 2010-12-16 12000000 CONSTRUCT FACILITIES,REFUND PRIOR YEAR ISSUE(07/31/03) 0 0 0 A 22700116 191335 11518574 10990208 2005 1 0 1 1 B 5005000 8880230 18911 156495 119917 3224476 5360432 2005 1 0 1 1 C 361422 1030000 1030000 2007 0 0 1 1 D 5269967 12001928 138348 240000 70593 8657020 2895967 2012 1 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0 0 1 D 1 0 0 0 0 0 1 A 0 0 1 1 0 1 SEE PART VI 27.400000000000 0 0 0 0 1 B 0 0 1 1 1 1 SEE PART VI 27.200000000000 0 0 0 0 1 C 0 0 1 1 1 1 0 0 0 0 1 D 0 0 1 1 1 1 0 0 0 0 1 A 1 B 1 C 1 D 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: IOWA FINANCE AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 06/30/2006 ISSUER NAME: IOWA FINANCE AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 04/12/2008 ISSUER NAME: IOWA FINANCE AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 10/27/2007 ISSUER NAME: IOWA FINANCE AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 11/30/2013 ISSUER NAME: IOWA FINANCE AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 11/30/2017 ISSUER NAME: CITY OF HARVEY, IOWA DATE THE REBATE COMPUTATION WAS PERFORMED: 11/30/2013 ISSUER NAME: CITY OF PELLA, IOWA DATE THE REBATE COMPUTATION WAS PERFORMED: 11/30/2014 ISSUER NAME: CITY OF POLK CITY, IOWA DATE THE REBATE COMPUTATION WAS PERFORMED: 12/31/2018 SCHEDULE K, PART II: ENTITY 1 AND ENTITY 2, PART II, LINE 3 - THE TOTAL PROCEEDS DO NOT AGREE TO THE ISSUE PRICE IN PART I, COLUMN (E) DUE TO INVESTMENT EARNINGS. ENTITY 2, PART II, COLUMN A, LINE 3 - THE TOTAL PROCEEDS DO NOT EQUAL THE SUMMATION OF LINES 4-12 DUE TO TRANSFERRED OR REPLACEMENT PROCEEDS IN LINE 4. ENTITY 4, PART II, COLUMN A & B, LINE 3 - THE TOTAL PROCEEDS DO NOT EQUAL THE SUMMATION OF LINES 4 - 12 DUE TO TRANSFERRED OR REPLACEMENT PROCEEDS IN LINE 4. ENTITY 4, PART II, COLUMN A & B, LINE 3 - THE TOTAL PROCEEDS DO NOT AGREE TO THE ISSUE PRICE IN PART I, COLUMN (E) AS THIS DEBT WAS ISSUED ON A DRAW-DOWN BASIS AND THE TOTAL PRINCIPAL AVAILABLE HAS NOT YET BEEN DRAWN. SCHEDULE K, PART IV: ENTITY 1, PART IV, COLUMNS A, B, C, & D, LINE 2C - SINCE THE BOND PROCEEDS HAVE BEEN SPENT, A SPENDING EXCEPTION WAS MET, AND THE DEBT SERVICE FUND WAS OPERATED ON A BONA FIDE BASIS, NO FURTHER REBATE CALCULATIONS ARE NECESSARY. ENTITY 2, PART IV, COLUMN A, LINE 2C - SINCE THE BOND PROCEEDS HAVE BEEN SPENT, A SPENDING EXCEPTION WAS MET, AND THE DEBT SERVICE FUND WAS OPERATED ON A BONA FIDE BASIS, NO FURTHER REBATE CALCULATIONS ARE NECESSARY. ENTITY 2, PART IV, COLUMNS B & C, LINE 2C - THIS DEBT WAS ISSUED ON A DRAW-DOWN BASIS AND AMOUNTS WERE DRAWN AS PROJECT COSTS WERE INCURRED. AS NO REBATABLE ARBITRAGE WAS EARNED AND THE DEBT SERVICE FUND WAS OPERATED ON A BONA FIDE BASIS, NO FURHTER REBATE ANALYSIS IS NECESSARY. ENTITY 3, PART IV, COLUMN D, LINE 2C - THIS DEBT WAS ISSUED ON A DRAW-DOWN BASIS AND AMOUNTS WERE DRAWN AS PROJECT COSTS WERE INCURRED. AS NO REBATABLE ARBITRAGE WAS EARNED AND THE DEBT SERVICE FUND WAS OPERATED ON A BONA FIDE BASIS, NO FURTHER REBATE ANALYSIS IS NECESSARY. ENTITY 1, PART IV, COLUMNS A & B, LINE 4B: SERIES B - MORGAN STANLEY SERVICES, INC., BANK OF AMERICA, N.A. ENTITY 3, PART IV, COLUMN D, LINE 4B - PACIFIC COAST BANKERS' BANK. A IOWA FINANCE AUTHORITY 521699886 2012-12-13 20300000 REFUND PRIOR ISSUE (12/20/07) 0 0 0 B CITY OF HARVEY IOWA 421104344 2012-12-21 10000000 LOAN TO FINANCE CONSTRUCTION OF NEW FACILITIES 0 0 0 C CITY OF PELLA IOWA 426005115 2012-12-21 6500000 LOAN TO FINANCE CONSTRUCTION OF NEW FACILITIES 0 0 0 D IOWA FINANCE AUTHORITY 521699886 2015-11-12 41200000 IMPROVE FACILITIES, REFUND PRIOR ISSUE 0 0 0 A 1010550 20300000 1469707 290795 20005190 2009 1 0 1 1 B 2345536 10000000 90223 9909777 2014 0 0 1 1 C 1340187 6500000 54428 6445572 2014 0 0 1 1 D 4905045 41777411 3061415 1177469 40599942 2009 1 1 1 1 A 1 0 0 0 0 0 1 B 1 0 0 0 0 0 1 C 1 0 0 0 0 0 1 D 1 0 0 0 0 0 1 A 0 0 1 1 1 0 0 0 1 B 0 0 0 1 1 0 0 0 1 C 0 0 0 1 1 0 0 0 1 D 0 1 1 0 1 0 0 0 1 A 1 B 1 C 1 D 1 A CITY OF AINSWORTH IOWA 426004179 2015-06-25 10000000 WESLEY RETIREMENT SERVICES PROJECT 0 0 0 B CITY OF LEWIS IOWA 426004884 2015-06-25 6100000 WESLEY RETIREMENT SERVICES PROJECT 0 0 0 C IOWA FINANCE AUTHORITY 521699886 2017-04-27 16150000 FINANCE EXPANSION OF EDGEWATER 0 0 0 D CITY OF POLK CITY IOWA 421019654 2017-08-28 7000000 CONSTRUCTION OF THE BRIO FACILITY 0 0 0 A 662533 10013103 50001 9300773 662329 0 0 0 1 B 409745 6102487 50001 6029999 22487 0 0 1 1 C 12169113 16150000 54845 12977167 3117988 0 0 0 1 D 5000 7000000 50001 6949999 0 0 1 1 A 0 0 0 0 0 0 1 B 1 0 0 0 0 0 1 C 1 0 0 0 0 0 1 D 1 0 0 0 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 1 0 0 0 1 D 0 0 1 1 1 1 SEE PART VI 24.900000000000 0 0 0 0 1 A 1 B 1 C 1 D 1 A CITY OF GRANGER IOWA 420922580 2017-08-28 10000000 CONSTRUCTION OF THE BRIO FACILITY 0 0 0 B CITY OF WINDSOR HEIGHTS IOWA 426004577 2017-08-28 8500000 CONSTRUCTION OF THE BRIO FACILITY 0 0 0 A 7500 7110385 50001 7060384 2018 0 0 0 1 B 6042822 50001 5992821 2018 0 0 0 1 A 1 0 0 0 0 0 1 B 1 0 0 0 0 0 1 A 0 0 1 1 1 0 0 0 1 B 0 0 1 1 1 0 0 0 1 A 1 B 1 X 28 51529 FAIR MARKET VALUE X 50920 FAIR MARKET VALUE X TOOLS 12 33595 FAIR MARKET VALUE X EQUIPMENT 2 15000 FAIR MARKET VALUE 0 0 1 0 FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE IS COMPRISED OF THE CHAIR OF THE BOARD, THE PRESIDENT/CEO AND AT LEAST THREE DIRECTORS SELECTED BY VOTE OF THE BOARD OF DIRECTORS. EXCEPT FOR THE PRESIDENT/CEO, ALL MEMBERS OF THE EXECUTIVE COMMITTEE MUST BE MEMBERS OF THE BOARD OF DIRECTORS. THE EXECUTIVE COMMITTEE HAS ALL THE AUTHORITY OF THE BOARD (EXCEPT AS NOTED BELOW) BUT LIMITS ITSELF TO MATTERS THAT REQUIRE IMMEDIATE ACTION AND CANNOT WAIT UNTIL THE NEXT SCHEDULED BOARD MEETING. THE EXECUTIVE COMMITTEE SHALL HAVE NO AUTHORITY TO AMEND THE ARTICLES OF INCORPORATION, THE BYLAWS, OR ADOPT A PLAN OF MERGER OR CONSOLIDATION. THE EXECUTIVE COMMITTEE SHALL REPORT ON ITS ACTIONS AT THE NEXT MEETING OF THE BOARD OF DIRECTORS AND SUCH ACTIONS SHALL BE SUBJECT TO REVISION AND ALTERATION OF THE BOARD. FORM 990, PART VI, SECTION A, LINE 6 WESLEYLIFE, AN EXEMPT 501(C)(3) ORGANIZATION, IS THE SOLE CORPORATE MEMBER. FORM 990, PART VI, SECTION A, LINE 7A WESLEYLIFE ELECTS THE BOARD MEMBERS OF WRS. VACANCIES IN THE BOARD OF DIRECTORS AT WRS ARE FILLED BY WESLEYLIFE. FORM 990, PART VI, SECTION A, LINE 7B APPROVAL OF THE FOLLOWING MATTERS ARE RESERVED EXCLUSIVELY TO THE MEMBER: 1. APPROVAL OF CHANGES TO THE ARTICLES OF INCORPORATION OR BYLAWS; 2. APPOINTMENT OF, OR REMOVAL OF, WITH OR WITHOUT CAUSE, THE MEMBERS OF THE BOARD OF DIRECTORS; ABILITY TO FIX THE NUMBER OF BOARD OF DIRECTORS; 3. APPROVAL OF THE INCURRENCE OF DEBT; 4. THE SALE, TRANSFER OR SUBSTANTIAL CHANGE IN USE OF ALL OR SUBSTANTIALLY ALL OF THE ASSETS, DIVESTITURES, DISSOLUTIONS, CLOSURES, MERGERS, CONSOLIDATIONS, OR CHANGES IN CORPORATE MEMBERS; 5. APPROVAL OF THE TRANSFER OR ENCUMBRANCE OF THE ASSETS; AND 6. APPROVAL OF THE ANNUAL OPERATING BUDGET AND CAPITAL PLAN. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM. THE CEO, CFO AND CONTROLLER REVIEWED THE DOCUMENT INTERNALLY. THE FORM 990 WAS THEN REVIEWED BY THE BOARD'S FINANCE COMMITTEE AND MADE AVAILABLE TO ALL VOTING BOARD MEMBERS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CORPORATION COMMUNICATES THE CONFLICT OF INTEREST POLICY ANNUALLY TO BOARD MEMBERS AND REQUIRES BOARD MEMBERS TO COMPLETE AN ANNUAL STATEMENT DESCRIBING ACTUAL OR PERCEIVED CONFLICTS OF INTEREST. IF ANY CONFLICTS ARISE THE BOARD MUST FOLLOW THE PROCEDURES SPECIFIED IN THE POLICY TO RESOLVE THE MATTER. WITH RESPECT TO THE BOARD MEMBERS, A PERSON WHO HAS A CONFLICT OF INTEREST IS DEEMED AN INTERESTED DIRECTOR. THE INTEREST DIRECTOR SHALL NOT PARTICIPATE IN THE VOTE REGARDING HIS/HER POTENTIAL CONFLICT AND, DEPENDING UPON THE CIRCUMSTANCES, MAY NOT BE PERMITTED TO PARTICIPATE IN THE DISCUSSION REGARDING THE ISSUE. NO INTERESTED DIRECTOR SHALL BE PERMITTED TO VOTE IN MATTERS IN WHICH HE/SHE HAS A CONFLICT OF INTEREST. WITH RESPECT TO EMPLOYEES, THE PRESIDENT, IN CONSULTATION WITH OTHER UNBIASED MANAGERS, SHALL DETERMINE WHETHER A CONFLICT OF INTEREST EXISTS. AFTER EXERCISING DUE DILIGENCE, INCLUDING INVESTIGATING ALTERNATIVES TO A TRANSACTION OR ARRANGEMENT THAT GIVES RISE TO A CONFLICT OF INTEREST, THE PRESIDENT SHALL DETERMINE WHETHER THE CORPORATION IS ABLE TO OBTAIN WITH REASONABLE EFFORTS, A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM ANOTHER INDIVIDUAL OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT AVAILABLE, THE ARRANGEMENT OR TRANSACTION MAY GO FORWARD IF THE PRESIDENT DETERMINES THAT THE TRANSACTION IS FAIR AND IN THE BEST INTEREST OF THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS IS EMPOWERED BY THE BOARD OF DIRECTORS, ACCORDING TO ARTICLE VII OF THE ORGANIZATION'S BY-LAWS, TO DETERMINE PERFORMANCE GOALS AND MONITOR AND EVALUATE PERFORMANCE OF THE CHIEF EXECUTIVE OFFICER. THE EXECUTIVE COMMITTEE INCLUDES IN ITS EVALUATION, FEEDBACK FROM OTHER BOARD MEMBERS AND OTHERS NOT ASSOCIATED WITH THE COMMITTEE OR THE BOARD. THE COMMITTEE MONITORS PERFORMANCE OF THE ORGANIZATION AND CEO THROUGHOUT THE YEAR AND PROVIDES ONGOING ASSESSMENTS TO THE CEO USING AN EVALUATION AND RATING TOOL. THE COMMITTEE UTILIZES AN ANNUAL INDEPENDENT COMPENSATION SURVEY TO ASSIST IN DETERMINING COMPENSATION. MULTI-SITE ORGANIZATIONS AND LEADINGAGE, FORMERLY KNOWN AS "THE AMERICAN ASSOCIATION OF HOMES AND SERVICES FOR THE AGING", PROVIDE AN ANNUAL SURVEY OF COMPENSATION FOR CEOS AND OTHER OFFICERS. (WESLEYLIFE HAS SEARCHED FOR OTHER SURVEYS TO SUPPLEMENT THIS ONE BUT NO OTHER SURVEY PROVIDES THE SAME DEGREE OF COMPARABILITY.) THE SURVEY INCLUDES ONLY SENIOR LIVING ORGANIZATIONS AND IS SORTED BY GEOGRAPHIC REGIONS, REVENUE VOLUME, FULL-TIME EQUIVALENT EMPLOYEES, AND ASSET SIZE. IN 2015, THE EXECUTIVE COMMITTEE OF THE BOARD ENGAGED AN INDEPENDENT, THIRD PARTY TO TAKE A DEEPER ANALYSIS INTO THE COMPENSATION DESIGN AS COMPARED TO SIMILAR ORGANIZATIONS. THE INTENT WAS TO GO BEYOND THE INDUSTRY BENCHMARKED STUDY AND DRILL INTO APPROPRIATENESS, COMPETITIVENESS, AND OVERALL DESIGN. IT WAS DETERMINED, THROUGH THIS SECOND OPINION, THAT COMPENSATION WAS APPROPRIATE FOR THE SIZE AND COMPLEXITY OF THE ORGANIZATION. THE EXECUTIVE COMMITTEE DISCLOSES TO THE FULL BOARD OF DIRECTORS, IN CLOSED SESSION, THE RESULTS OF THE PERFORMANCE EVALUATION AND COMPENSATION DECISIONS. MINUTES OF MEETINGS ARE MAINTAINED AND THE BOARD CHAIRMAN PROVIDES WRITTEN NOTIFICATION TO BOTH THE CEO AND THE CORPORATE FINANCE DEPARTMENT REGARDING COMPENSATION DECISIONS. THE EVALUATION AND COMPENSATION SETTING PROCESS IS MUCH THE SAME FOR THE OTHER OFFICERS AS FOR THE CEO WITH SOME EXCEPTIONS. THE CEO DETERMINES THE PERFORMANCE GOALS AND MONITORS RESULTS. THE SAME SURVEY AS DESCRIBED ABOVE IS USED TO ASSIST IN DETERMINING COMPENSATION. THE CEO DISCLOSES ANNUALLY TO THE EXECUTIVE COMMITTEE THE COMPENSATION DECISIONS AND REASONS FOR THOSE DECISIONS IN REGARDS TO OTHER OFFICERS. THE LAST REVIEW PROCESS WAS CONDUCTED IN 2018 AND IS DONE ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF INTEREST RATE SWAPS 966,825. CHANGE IN VALUE OF SPLIT-INTEREST GIFTS -164,542. CHANGE IN VALUE OF PERPETUAL TRUST -177,034. 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