2018-09-04T09:19:15-05:00 2017-12-31 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 1650 MARKET STREET SUITE 4500 PHILADELPHIA PA 191037341 990 2017-01-01 222229486 MEADOWOOD CORPORATION MEAD 6105841000 3205 SKIPPACK PIKE PO BOX 670 WORCESTER PA 19490 STEVEN WISNIEWSKI VP OF FINANCE/CFO 6105841000 2018-08-28 1 JULIUS C GREEN CPA P00350393 2159720701 2017 2022-09-23 18:48:47Z PAUL NORDEMAN 3205 SKIPPACK PIKE PO BOX 670 WORCESTER PA 19490 45146136 0 X WWW.MEADOWOOD.NET X 1983 PA TO PROVIDE THE HIGHEST QUALITY OF LIFE FOR ALL WHO EXPERIENCE THE MEADOWOOD COMMUNITY. 13 13 449 28 0 0 236873 655763 27633957 28846135 492917 3041218 50744 7190 28414491 32550306 148340 106291 0 0 12143671 12559144 0 0 70507 15989078 16600384 28281089 29265819 133402 3284487 79797699 91066503 90509772 99516208 -10712073 -8449705 X MEADOWOOD IS COMMITTED TO PROVIDE THE HIGHEST QUALITY OF LIFE FOR ALL WHO EXPERIENCE THE MEADOWOOD COMMUNITY. 0 0 25990968 106291 28846135 TO OPERATE A CONTINUING CARE RETIREMENT COMMUNITY, WHICH PROVIDES HOUSING, HEALTHCARE, AND OTHER RELATED SERVICES TO SENIORS THROUGH THE OPERATION OF A 59-BED NURSING FACILITY, A 56-BED PERSONAL CARE FACILITY, 254 RESIDENTIAL APARTMENTS, 42 CARRIAGE HOMES AND A HOME HEALTH AGENCY. THE CORPORATION'S COMMUNITY IS LOCATED IN WORCESTER TOWNSHIP, PA. TOTAL RESIDENT DAYS AT THE FACILITY WERE AS FOLLOWS: SKILLED DAYS OF 20,076, ASSISTED LIVING DAYS OF 18,287, AND INDEPENDENT LIVING DAYS OF 117,442. ALSO, THE HOME HEALTH AGENCY PERFORMED 619 VISITS DURING 2017. HEALTHCARE SERVICE - PROVIDE RESIDENTS WITH PHYSICIAN CARE, PHYSICAL THERAPY, SPEECH THERAPY, OCCUPATIONAL THERAPY, SKILLED NURSING, PERSONAL CARE, ACTIVITIES, HOME HEALTH, AND OTHER RELATED SERVICES. MAINTENANCE AND OTHER SERVICES - PROVIDE GENERAL MAINTENANCE AND SERVICE REPAIRS TO CENTER, INCLUDING DEPRECIATION AND INTEREST EXPENSES. PROVIDE SECURITY, TRANSPORTATION, AND OTHER SERVICES AS NEEDED. DINING SERVICES - PROVIDE DAILY MEALS TO RESIDENTS, PROVIDE FOR SPECIAL DIETARY NEEDS OF RESIDENTS AND SPECIAL FUNCTIONS REQUESTED BY RESIDENTS. PROVIDE COFFEE SHOP FOR RESIDENTS, STAFF AND GUESTS. 25990968 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 37 0 1 449 1 0 0 0 0 0 0 0 0 0 0 X 13 13 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X WANDA MANN 6105841000 3205 SKIPPACK PIKE PO BOX 670 WORCESTER PA 19490 BRUCE J MCKENNEY CHAIR 2.00 X X 0 0 0 H DRAKE WILLIAMS JR VICE-CHAIR 2.00 X X 0 0 0 JAMES R BEAM SECRETARY 2.00 X X 0 0 0 JEREMY C BRENN TREASURER 2.00 X X 0 0 0 PAUL NORDEMAN PRESIDENT/CEO 40.00 X X 352560 0 32475 WILLIAM D BLACK DIRECTOR 2.00 X 0 0 0 LAWRENCE W DESSEN DIRECTOR 2.00 X 0 0 0 EUGENE D DOLLOFF DIRECTOR 2.00 X 0 0 0 W BRUCE FRETZ DIRECTOR 2.00 X 0 0 0 KAREN KELLY DIRECTOR (RESIDENT) 2.00 X 0 0 0 PATRICIA MODAFFERI DIRECTOR 2.00 X 0 0 0 BARBARA H OST DIRECTOR 2.00 X 0 0 0 ILENE WARNER-MARON DIRECTOR 2.00 X 0 0 0 CATHERINE WILDT DIRECTOR 2.00 X 0 0 0 STEVEN WISNIEWSKI VP OF FINANCE/CFO 40.00 X 178632 0 11003 SHANNON GRIEB VP OF MARKETING 40.00 X 125556 0 10709 MELISSA ROSENBERG VP OF HEALTH CENTER OPS 40.00 X 137039 0 18168 BARBARA BEATRICE VP OF HUMAN RESOURCES 40.00 X 127099 0 14840 BETH CWIKLINKSI VP OF HEALTH SERVICES 40.00 X 127082 0 9522 MARLON BACK VP OF MAINTENANCE 40.00 X 122928 0 9528 1170896 0 106245 7 0 1 0 BERKS RIDGE BUILDER 316 RUTH ROAD HARLEYSVILLE PA 19438 CONSTRUCTION 5527599 FLICK DINING PO BOX 102289 ATLANTA GA 30368 DINING SERVICES 741784 ENCORE 1966 PIONEER ROAD SUITE A HUNTINGTON VALLEY PA 19006 PHYSICAL, OCCUPATION AND SPEECH THERAPY 737731 REESE LOWER PATRICK & SCOTT 250 VALLEY BROOK LANSDALE PA 19446 ARCHITECTS 700135 WILLIAMS ELECTRIC 418 S STONE RIDGE DRIVE LANSDALE PA 19446 ELECTRICIAN 388775 10 20970 634793 655763 NET RESIDENT SERVICE REVENUE 623000 28846135 28846135 28846135 338146 338146 10996 10300 696 696 696 15270472 8850 12539904 36346 2730568 -27496 2703072 2703072 2735 20970 9280 -6545 -6545 INSURANCE CLAIM INCOME 524298 11547 11547 NATIONAL EQUIPMENT REBATE 900099 803 803 TILE REPAIR 811000 500 500 189 189 13039 32550306 28846135 0 3048408 106291 106291 574670 574670 9661144 8433148 1172901 55095 218507 169807 46513 2187 1360385 1225327 130128 4930 744438 625394 115316 3728 58518 58518 63538 63538 59491 59491 1901785 1862580 39205 301567 301567 2769485 2497641 271844 176724 155453 21271 1944139 1944139 27974 10205 17769 36641 10633 26008 1008457 1008457 6352348 6352348 264924 264924 MEDICAL SUPPLIES 797521 797521 REPAIRS & MAINTENANCE 410262 410262 BAD DEBT EXPENSE 165331 165331 EMPLOYEE APPRECIATION 132738 96703 36035 128941 20135 104239 4567 29265819 25990968 3204344 70507 1718130 5940223 1099482 203961 200000 0 2577196 2954651 141582 138476 886779 872617 135678573 72692086 56875638 62986487 15866174 17618960 432718 351128 79797699 91066503 2670615 5103689 37024503 40297819 26306519 23186513 0 3258699 24508135 27669488 90509772 99516208 X -11556829 -9077342 844756 627637 -10712073 -8449705 79797699 91066503 X 3284487 -1347304 325185 X 0 1 X 1 0 X 248125 332780 1302189 236873 655763 2775730 24679618 26335979 27076986 27623957 28846135 134562675 24927743 26668759 28379175 27860830 29501898 137338405 0 0 0 137338405 411623 690777 647422 519458 349142 2618422 411623 690777 647422 519458 349142 2618422 10088 79713 102159 56945 13039 261944 25349454 27439249 29128756 28437233 29864079 140218771 0.97950 0.97780 0.01870 0.02010 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: LEGAL SETTLEMENT - 2013 AMOUNT: $ 2,683. SALES TAX DISCOUNT - 2017 AMOUNT: $ 189. REBATES CREDITS - 2013 AMOUNT: $ 7,405. 2014 AMOUNT: $ 4,825. 2015 AMOUNT: $ 905. WORKERS COMPENSATION - 2014 AMOUNT: $ 5,000. 2015 AMOUNT: $ 23,636. INSURANCE CLAIM INCOME - 2014 AMOUNT: $ 12,899. 2015 AMOUNT: $ 9,373. 2016 AMOUNT: $ 47,208. 2017 AMOUNT: $ 11,547. BENEVOLENT CARE - 2014 AMOUNT: $ 56,989. US FOOD SETTLEMENT - 2015 AMOUNT: $ 20,899. MISCELLANEOUS - 2015 AMOUNT: $ 47,346. CITIZENS BANK SHARE CARD - 2016 AMOUNT: $ 4,088. NATIONAL EQUIPMENT REBATE - 2016 AMOUNT: $ 1,250. 2017 AMOUNT: $ 803. MATRIX REFUND - 2016 AMOUNT: $ 4,399. TILE REPAIR - 2017 AMOUNT: $ 500. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2252481 2252481 112042910 62473395 49569515 2055524 1388270 667254 19327658 8830421 10497237 62986487 REFUNDABLE DEPOSITS 1531480 REFUNDABLE ENTRY FEES 25769810 FAIR VALUE OF DERIVATIVE FINANCIAL INSTRUMENTS 368198 27669488 31485070 -1347304 234992 -1112312 32597382 -47076 -47076 32550306 29222702 63174 63174 29159528 106291 106291 29265819 PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN FAIR VALUE OF DERIVATIVE FINANCIAL INSTRUMENTS 341,283. NET ASSETS RELEASED FROM RESTRICTIONS USED FOR BENEVOLENT CARE -106,291. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -10,300. LOSS ON SALE OF FIXED ASSETS -27,496. FUNDRAISING EXPENSES -9,280. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 10,300. GAIN ON SALE OF FIXED ASSETS 27,496. FUNDRAISING EXPENSES 9,280. CHANGE IN VALUE OF ANNUITIES 16,098. PART XII, LINE 4B - OTHER ADJUSTMENTS: BENEVOLENT CARE AND MONTHLY FEE SUBSIDY FOR RESIDENTS 106,291. ART SHOW 23705 20970 2735 1600 7680 23705 20970 2735 1600 7680 9280 -6545 1 BENEVOLENT CARE AND MONTHY FEE SUBSIDIES 5 106291 0 PART I, LINE 2: RECERTIFICATION OF BENEVOLENT CARE IS PERFORMED AT LEAST ANNUALLY. SUBSIDY FOR BENEVOLENT CARE OR SUBSIDY TO MONTHLY FEE IS CREDITED DIRECTLY TO THE MONTHLY INVOICE. X X X X 0 0 0 0 0 0 0 1 0 PAUL NORDEMAN PRESIDENT/CEO 299560 0 53000 0 0 0 15750 0 16725 0 385035 0 0 0 STEVEN WISNIEWSKI VP OF FINANCE/CFO 168632 0 10000 0 0 0 5374 0 5629 0 189635 0 0 0 MELISSA ROSENBERG VP OF HEALTH CENTER OPS 127039 0 10000 0 0 0 8218 0 9950 0 155207 0 0 0 PART I, LINE 7 ACCRUED BONUSES WERE PAID TO THE MANAGEMENT TEAM IN 2017 THAT WERE BASED ON EACH MANAGER'S PERFORMANCE. PAUL NORDEMAN, THE PRESIDENT/CEO, DETERMINED AND APPROVED THE BONUSES FOR THE MANAGEMENT TEAM AND HIS OWN BONUS WAS DETERMINED AND APPROVED BY THE BOARD. THE PROCESS IS DOCUMENTED BY A BOARD APPROVED POLICY AND THE PAYOUTS ARE DOCUMENTED IN INDIVIDUAL MEMOS. A MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 232245725 2009-12-01 27735000 CURRENT REFUNDING FOR 1997 AND 2005 BONDS 0 0 0 B MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 232245725 2010-01-08 18030650 CERTAIN CAPITAL ADDITIONS AND RENOVATIONS, REFUNDING OF CAPITAL LOAN 0 0 0 A 27428631 27735000 281869 24500 2009 1 0 1 1 B 3814137 13531519 188185 13343334 2010 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 1 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 1 0 1 A 0 0 0 0 0 0 0 0 0 B 1 1 1 CITIZENS BANK 10.000000000000 0 0 0 0 1 A 1 B 1 SCHEDULE K SUPPLENTAL INFORMATION THE 2010 SERIES BONDS ARE A DRAW DOWN LOAN WITHIN THE MEANING OF REGULATION SECTION 1.150-1(C)(4)(I), AND HAVE NOT BEEN DRAWN DOWN BY THE END OF THE REPORTING PERIOD. FORM 990, PART VI, SECTION A, LINE 3 FLICK SENIOR DINING RUNS THE DINING AT MEADOWOOD. GENESIS RUNS THE THERAPY PROVIDED AT MEADOWOOD. FORM 990, PART VI, SECTION B, LINE 11B THE CFO AND CONTROLLER COORDINATED OBTAINING RESPONSES TO QUESTIONS ON THE FORM 990 AND QUERIED THE APPROPRIATE PARTIES. THE DRAFT WAS REVIEWED BY THE CFO. THE FINAL VERSION WAS REVIEWED WITH THE FINANCE COMMITTEE OF THE BOARD OF DIRECTORS AND SUMMARIZED TO THE FULL BOARD, WHO ALSO RECEIVED A FULL COPY OF THE FINAL VERSION. FORM 990, PART VI, SECTION B, LINE 12C ACCORDING TO OUR CONFLICT OF INTEREST POLICY, EVERY TRUSTEE AND SENIOR STAFF MEMBER (STRATEGIC TEAM) WILL COMPLETE AN "ANNUAL CONFLICT OF INTEREST AND DISCLOSURE OF RELATED ACTIVITIES STATEMENT." THE PURPOSE OF THE STATEMENT IS TO DISCLOSE ANY INTEREST THAT MAY CREATE A CONFLICT OF INTEREST IN LIGHT OF THE RELATIONSHIP WITH MEADOWOOD. THE EXECUTIVE ASSISTANT TO THE CEO REVIEWS ALL SIGNED CONFLICT OF INTEREST FORMS. IF ANY INTEREST IS DISCLOSED ON THE STATEMENTS AND IS DEEMED TO BE A CONCERN BY STAFF OR BOARD MEMBERS, THE BOARD WILL REVIEW THE POTENTIAL CONFLICT AND RECOMMEND ACTION TO MITIGATE THE CONFLICT OR END THE RELATIONSHIP THAT HAS CAUSED THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 AT YEAR-END, THE PRESIDENT/CEO SUBMITS HIS ASSESSMENT OF HIS ACHIEVEMENT OF HIS GOALS AND ANY OTHER PERTINENT INFORMATION REGARDING HIS RESPONSIBILITIES FOR THE PREVIOUS YEAR TO THE EXECUTIVE COMMITTEE (EC). THE VP OF HUMAN RESOURCES (HR) SUBMITS CURRENT COMPARATIVE WAGE INFORMATION REGARDING OTHER CEOS TO THE EC. THE EC REVIEWS THE CEO'S ASSESSMENT, HR DATA AND, AS NECESSARY, SOLICITS OTHER INFORMATION OR COMMENTS FROM THE STAFF. THE EC MAKES A RECOMMENDATION TO THE BOARD CONCERNING THE CEO'S REVIEW AND THE FOLLOWING YEAR'S COMPENSATION. THE BOARD MEETS IN EXECUTIVE SESSION, REVIEWS THE ENTIRE PROCESS, MAKES A FINAL EVALUATION AND DETERMINES THE NEXT YEAR'S COMPENSATION. THIS PROCESS AND EXECUTIVE SESSION ARE DOCUMENTED IN MEETING MINUTES. THE BOARD CHAIR DELIVERS THE BOARD'S DECISION TO THE CEO. MARKET RATE COMPARISONS ARE ALSO OBTAINED FOR ALL KEY STAFF POSITIONS AND COMMUNICATED TO THE CEO AS PART OF THE ANNUAL REVIEW PROCESS, WHICH ALSO INCLUDES A SELF-EVALUATION, EVALUATION BY THE CEO, AND GOAL SETTING. THE VP OF HUMAN RESOURCES ENSURES THAT THE PROPER RATES ARE PAID. DOCUMENTATION IS IN THE FORM OF A WRITTEN REVIEW. THIS REVIEW WAS LAST DONE IN JANUARY 2017 FOR ALL RELEVANT STAFF. FORM 990, PART VI, SECTION C, LINE 19 AN ANNUAL DISCLOSURE STATEMENT INCLUDES THE AUDITED FINANCIAL STATEMENTS AND IS PROVIDED TO ALL PROSPECTIVE RESIDENTS. IT IS ALSO AVAILABLE UPON REQUEST. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST AND IN THE COMMUNITY'S LIBRARY. FORM 990, PART XI, LINE 9: CHANGE IN FAIR VALUE OF DERIVATIVE FINANCIAL INSTRUMENTS 341,283. CHANGE IN VALUE OF ANNUITIES -16,098.