2018-07-11T08:36:19-05:00 2017-12-31 410746749 CLIFTONLARSONALLEN LLP 610 W GERMANTOWN PIKE STE 400 PLYMOUTH MEETING PA 19462 990 2017-01-01 222535376 WAKE ROBIN CORPORATION WAKE 8022645109 200 WAKE ROBIN DRIVE SHELBURNE VT 05482 FRED ERDMAN CHEIF FINANCIAL OFFICER 8022645109 2018-06-27 1 BERNADETTE O'TOOLE CPA P00229258 2156433900 2017 2022-09-23 18:48:47Z PATRICK MCKEE 200 WAKE ROBIN DRIVE SHELBURNE VT 05482 23243984 0 X WWW.WAKEROBIN.COM X 1984 VT TO ESTABLISH, OWN, AND MAINTAIN CHARITABLE CONTINUING CARE RETIREMENT COMMUNITIES FOR THE ELDERLY 12 12 331 13 0 0 50103 304562 22163397 21980350 265770 517533 0 0 22479270 22802445 0 14705 0 0 9381426 9604979 0 0 0 11780031 12635252 21161457 22254936 1317813 547509 75860398 96995899 103080747 123359752 -27220349 -26363853 ESTABLISH A SUSTAINABLE DYNAMIC COMMUNITY OF SENIORS THAT HONORS BOTH MUTUAL SUPPORT AND INDEPENDENCE AND ADDRESSES THE HEALTH AND WELLNESS OF EACH RESIDENT. 0 0 19834627 14705 21980350 WAKE ROBIN HAS ONE PRIMARY PROGRAM SERVICE, TO ESTABLISH AND OWN A SUSTAINABLE AND DYNAMIC CONTINUING CARE RETIREMENT COMMUNITY FOR SENIORS THAT HONORS BOTH MUTUAL SUPPORT AND INDEPENDENCE AND ADDRESSES THE HEALTH AND WELLNESS OF EACH RESIDENT. WAKE ROBIN PROVIDES RESIDENTS WITH HOUSING, HEALTH CARE SERVICES, FOOD SERVICES, SECURITY AND OTHER ANCILLARY SERVICES TO THE SENIOR RESIDENTS. AT DECEMBER 31, 2017, THE COMMUNITY HOUSED APPROXIMATELY 261 RESIDENTS IN INDEPENDENT HOMES AND 67 RESIDENTS IN THE HEALTH CENTER. WAKE ROBIN ALSO PROVIDED BENEVOLENCE ASSISTANCE FOR ITS RESIDENTS WHO, THROUGH NO FAULT OF THEIR OWN, HAVE EXHAUSTED THEIR FINANCIAL RESOURCES. FOR THE YEAR ENDED DECEMBER 31, 2017, WAKE ROBIN PROVIDED ASSISTANCE TO ONE RESIDENT IN THE AMOUNT OF $14,705. 19834627 1 1 0 0 0 0 0 0 1 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 29 0 331 1 0 0 0 0 0 0 1 6 0 0 0 X 12 12 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 1 0 VT X X FRED ERDMAN 8022645109 200 WAKE ROBIN DRIVE SHELBURNE VT 05482 CATHY FRANK CHAIR 1.00 X X 0 0 0 ERIC HANSON VICE-CHAIR 1.00 X X 0 0 0 DAVID HALLAM BOARD MEMBER 1.00 X 0 0 0 SALLY CONRAD BOARD MEMBER 1.00 X 0 0 0 CHRISTINE DUNBAR BOARD MEMBER 1.00 X 0 0 0 KATIE HAWLEY BOARD MEMBER 1.00 X 0 0 0 BOB DUNCAN BOARD MEMBER 1.00 X 0 0 0 THERSA HYLAND BOARD MEMBER 1.00 X 0 0 0 JANICE GALLANT BOARD MEMBER 1.00 X 0 0 0 ALLYSON LAACKMAN BOARD MEMBER 1.00 X 0 0 0 ROSALYN GRAHAM BOARD MEMBER 1.00 X 0 0 0 MARC TISCHLER BOARD MEMBER 1.00 X 0 0 0 KATIE LAMPTON BOARD MEMBER THROUGH 6/17 & IMMEDIATE PAST CHAIR 1.00 X 0 0 0 PATRICK MCKEE CEO & PRESIDENT 40.00 X 185136 0 30111 FRED ERDMAN CFO, SECRETARY & TREASURER 40.00 X 163466 0 11987 NANCY CHIQUOINE DIRECTOR OR MARKETING 40.00 X 115381 0 11941 ANNE LEVESQUE DIRECTOR OF HUMAN RESOURCES 40.00 X 115362 0 11627 LINDA PHYPERS DIRECTOR OF HEALTH CENTER 40.00 X 147950 0 20885 727295 0 86551 5 0 1 0 LECESSE CONSTRUCTION 75 THRUWAY PARK DRIVE WEST HENRIETTA NY 14586 CONSTRUCTION MANAGEMENT 5793501 MOUNTAIN AIR SYSTEMS 430 COMMERCE STREET SUITE 220 WILLISTON VT 05495 HVAC INSTALLATION AND REPAIRS 430935 GREENBRIER DEVELOPMENT 3232 MCKINNEY AVE SUITE 1160 DALLAS TX 75204 EXPANSION PROJECT DEVELOPMENT SERVICES 377928 GLYNNDEVINS 11230 COLLEGE BLVD OVERLAND PARK KS 66210 MARKETING/ADVERTISING CONSULTING 366937 NETWORK PERFORMANCE INC 85 GREEN MOUNTAIN DRIVE SOUTH BURLINGTON VT 05403 IT CONSULTING & INSTALLATION 347280 10 304562 304562 RESIDENT SERVICE FEES 623000 12574062 12574062 AMORTIZATION OF ENTRANCE FEE 623000 4760208 4760208 HEALTH CARE REVENUE 623000 3501062 3501062 TERMINATION FEES 623000 743123 743123 ANCILARY REVENUE 900099 401895 401895 21980350 429809 429809 529263 441539 87724 87724 87724 22802445 21980350 0 517533 14705 14705 390701 107624 283077 7338449 6665887 672562 1363537 1314091 49446 512292 493715 18577 19007 19007 38000 38000 490644 490644 805198 805198 1848658 1843926 4732 2130578 2117429 13149 4143293 4118760 24533 224221 222837 1384 MAINTENANCE 1064278 1064278 DINING 892026 892026 NURSING/THERAPY/ ANCILA 688399 688399 290950 290950 22254936 19834627 2420309 0 1700 1700 9374872 18329142 314250 252340 95765 89502 202759 175282 111031123 48402811 54232515 62628312 11638537 15519621 75860398 96995899 1243398 4505327 48190645 51124569 52087899 66175004 802850 711550 755955 843302 103080747 123359752 X -30136191 -29913604 2775381 3390621 140461 159130 -27220349 -26363853 75860398 96995899 X 547509 670162 -361175 X 0 1 X 1 0 X 89492 91074 66898 50103 304562 602129 19122336 18829555 20176202 22163397 21980350 102271840 19211828 18920629 20243100 22213500 22284912 102873969 55000 10000 35398 500 92417 193315 0 55000 10000 35398 500 92417 193315 102680654 263336 415047 436819 306275 429809 1851286 263336 415047 436819 306275 429809 1851286 326460 253535 24978 604973 19801624 19589211 20704897 22519775 22714721 105330228 0.97480 0.96500 0.01760 0.01870 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 515359 27980 97301 2628 638012 489589 500 27573 2303 515359 457382 32002 2379 2174 489589 435916 8061 16227 2822 457382 353535 5000 79605 2224 435916 0.00000 0.00000 1.00000 0 0 2133946 2133946 79089663 37361558 41728105 4764229 3380039 1384190 25043285 7661214 17382071 62628312 REFUNDABLE ENTRANCE FEES 577000 ANNUITY OBLIGATIONS 110623 DERIVATIVE FINANCIAL INSTRUMENT 155679 843302 X 23111432 670162 -361175 308987 22802445 0 22802445 22254936 0 22254936 0 22254936 PART IV, LINE 2B: PRIORITY AND INTERIM DEPOSITS ARE RECEIVED FROM PROSPECTIVE RESIDENTS AND DEPOSITED INTO AN ESCROW ACCOUNT. DEPOSITS ARE FULLY REFUNDABLE. UPON EXECUTION OF THE RESIDENCE AND CARE AGREEMENT PRIOR TO MOVE-IN RESIDENTS MUST PAY AN ENTRANCE FEE DEPOSIT EQUAL TO 25% OF THE ENTRANCE FEE AMOUNT. THIS IS ALSO A REFUNDABLE DEPOSIT. PART V, LINE 4: THE ENDOWMENT FUND IS USED TO SUPPORT ALL RESIDENTS LIVING AT THE COMMUNITY. THE BOARD ESTABLISHED THE INVESTMENT GUIDELINES FOR THE FUND AND AUTHORIZES ANY DISTRIBUTIONS. PART X, LINE 2: THE CORPORATION IS RECOGNIZED BY THE INTERNAL REVENUE SERVICE AS A NONPROFIT CORPORATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) AND IS EXEMPT FROM FEDERAL INCOME TAXES PURSUANT TO SECTION 501(A) OF THE IRC. THE CORPORATION FOLLOWS THE PROVISIONS OF THE INCOME TAX ACCOUNTING STANDARDS REGARDING THE RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. THE APPLICATION OF THESE PROVISIONS HAS NO IMPACT ON THE COMPANY'S FINANCIAL STATEMENTS. THE CORPORATION'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL, STATE, AND LOCAL AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN FAIR VALUE OF DERIVATIVE INSTRUMENT -12,181. CHANGE IN FAIR VALUE OF GIFT ANNUITY 20,654. LOSS ON EXTINGUISHMENT OF BONDS -369,648. 1 RESIDENT FINANCIAL SUPPORT 1 0 14705 COST TRANSFER OF FUNDS FROM THE RESIDENT ASSISTANCE FUND TO WAKE ROBIN'S RESIDENT REVENUE X X 0 0 0 0 0 0 0 0 0 PATRICK MCKEE CEO & PRESIDENT 179136 0 6000 0 0 0 0 0 30111 0 215247 0 0 0 FRED ERDMAN CFO, SECRETARY & TREASURER 159966 0 3500 0 0 0 0 0 11987 0 175453 0 0 0 LINDA PHYPERS DIRECTOR OF HEALTH CENTER 144450 0 3500 0 0 0 0 0 20885 0 168835 0 0 0 A VERMONT ECONOMIC DEVELOPMENT AUTHORITY 036024497 92415TAN2 2012-05-31 24010526 TO ADVANCE REFUND THE WAKE ROBIN MORTGAGE REVENUE BONDS SERIES 1999A BONDS 0 0 0 B VERMONT ECONOMIC DEVELOPMENT AUTHORITY 036024497 2014-12-11 19955000 DEFEASE THE WAKE ROBIN MORTGAGE REVENUE BONDS SERIES 2006A 0 0 0 C VERMONT ECONOMIC DEVELOPMENT AUTHORITY 036024497 92515TBQ4 2017-07-26 21590000 REFUND THE WAKE ROBIN MORTGAGE REVENUE BONDS SERIES 2006B AND FINANCE THE CO 0 0 0 D VERMONT ECONOMIC DEVELOPMENT AUTHORITY 036024497 92515TBQ4 2017-07-26 29500000 FINANCE THE CONSTRUCTION AND EQUIPPING OF AN EXPASION AND RENOVATION 0 0 0 A 4780526 20210000 356779 23653748 2012 0 1 1 1 B 1890000 19955000 367004 19587996 0 1 1 1 C 21590000 464968 6427279 14697753 0 1 0 1 D 29500000 544356 81602 28874042 0 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 D 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 1 0 0 1 0 0 0 1 C 0 1 0 0 0 0 0 0 1 D 0 1 0 0 1 0 0 0 1 A 1 B 1 C 1 D 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: VERMONT ECONOMIC DEVELOPMENT AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 01/18/2017 A VERMONT ECONOMIC DEVELOPMENT AUTHORITY 036024497 92515TBQ4 2017-07-26 16000000 FINANCE THE CONSTRUCTION AND EQUIPPING OF AN EXPASION AND RENOVATION 0 0 0 A 16000000 295244 7091384 8613372 0 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 1 0 0 0 1 A 1 FORM 990, PART VI, SECTION A, LINE 8B ALL MEETINGS ARE DOCUMENTED. THERE ARE NO COMMITTEES THAT ARE AUTHORIZED TO ACT ON BEHALF OF THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNT. THE AUDIT AND FINANCE COMMITTEE AND THE FULL BOARD THEN REVIEW AND APPROVE THE FORM 990 PRIOR TO ITS FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C EVERY JUNE THE BOARD OF DIRECTORS AND MANAGEMENT COMPLETE THE CONFLICT OF INTEREST STATEMENT. THEY ARE ASKED TO DISCLOSE ANY CONFLICT OF INTEREST THAT MIGHT ARISE DURING THE YEAR. FOR THE CONFLICTS THAT ARE NOTED THE CFO AND THE BOARD EVALUATE HOW THE CONFLICT CAN BE MITIGATED AND ESTABLISH APPROPRIATE CONTROLS AND OVERSIGHT TO MONITOR AND ENSURE THE POLICY IS IN PLACE. DIRECTORS WHO HAVE DECLARED OR BEEN FOUND TO HAVE A CONFLICT OF INTEREST SHALL REFRAIN FROM PARTICIPATING IN PROPOSED TRANSACTIONS IN WHICH POTENTIAL CONFLICT EXISTS. IN CASES WHERE SUCH CONFLICT EXISTS, UNLESS FOR SPECIAL REASONS, PERSONS WITH CONFLICTS SHALL NOT VOTE, PARTICIPATE IN DISCUSSION, NOR BE PRESENT AT THE TIME OF DISCUSSION OR VOTE. FORM 990, PART VI, SECTION B, LINE 15 THE CEO COMPENSATION IS APPROVED BY THE FULL BOARD OF DIRECTORS, WHO ARE VOLUNTEERS FROM THE LOCAL COMMUNITY. THEIR RECOMMENDATIONS ARE BASED ON: 1. INPUT FROM ALL BOARD MEMBERS AND THE HUMAN RESOURCES DIRECTOR. 2. COMPARISON OF OTHER CEO COMPENSATION IN VERMONT AND IN THE INDUSTRY (TY DOL AND LEADINGAGE). 3. COMPENSATION IS TIED TO PERFORMANCE IN CARRYING OUT THE STRATEGIC PLAN WHICH IS NOT TIED TO FINANCIAL RESULTS, OPERATING RESULTS OR OTHER RATIOS. WHILE THE BOARD MAKES ITS DETERMINATION OF COMPENSATION INCREASE SEPARATE AND APART FROM THE INTERNAL STAFF SCALE OF ADJUSTMENTS, THE BOARD DOES TAKE THAT RANGE OF INCREASE INTO ACCOUNT IN MAKING ITS DETERMINATION. THE REVIEW PROCESS LAST OCCURRED DURING 2017. THE COMPENSATION OF KEY OFFICERS AND EMPLOYEES IS ALSO ANNUALLY REVIEWED BY THE HUMAN RESOURCES DIRECTOR AND APPROVED BY THE CEO. EACH YEAR COMPARABLE DATA IS GATHERED AND COMPARED REGARDING COMPENSATION IN THE INDUSTRY IN VERMONT. THE REVIEW PROCESS LAST OCCURRED DURING 2017. 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. QUARTERLY FINANCIAL RESULTS ARE PRESENTED TO RESIDENTS OF THE ORGANIZATION AND ARE AVAILABLE TO THE PUBLIC ON EMMA (ELECTRONIC MUNICIPAL MARKET ACCESS). THE FINANCIAL STATEMENTS ARE ALSO AVAILABLE ON THE ORGANIZATION'S WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN FAIR VALUE OF DERIVATIVE INSTRUMENT -12,181. CHANGE IN FAIR VALUE OF GIFT ANNUITY 20,654. LOSS ON EXTINGUISHMENT OF BONDS -369,648. WAKE ROBIN MANAGEMENT LLC 200 WAKE ROBIN DRIVE SHELBURNE VT 05482 453189950 MANAGEMENT SERVICES TO SENIOR LIVING FACILITY VT 0 194171 WAKE ROBIN CORPORATION