2018-09-21T11:26:25-05:00 2017-12-31 410746749 CLIFTONLARSONALLEN LLP 610 W GERMANTOWN PIKE STE 400 PLYMOUTH MEETING PA 19462 990 2017-01-01 300164277 WOODLAND POND INC WOOD 8452565511 100 WOODLAND POND CIRCLE NEW PALTZ NY 12561 MICHELLE GRAMOGLIA CEO 8452565511 2018-09-21 1 BERNADETTE O'TOOLE CPA P00229258 2156433900 67.137.57.251 2018-09-21 10:19:41 ED P 40B1045984B6BD7CE0CB919AAE2F7A412AF27D98 9434206CF9E616DFA6493511BABFC6F852C175E8 2017 2018-06-14 16:35:46Z WOODLAND POND AT NEW PALTZ MICHELLE GRAMOGLIA 100 WOODLAND POND CIRCLE NEW PALTZ NY 12561 21531832 0 X WWW.WPATNP.ORG X 2002 NY TO CONSTRUCT AND OPERATE A CONTINUING CARE RETIREMENT COMMUNITY NAMED WOODLAND POND AT NEW PALTZ UNDER ARTICLE 46 OF NEW YORK STATE PUBLIC HEALTH LAW. 13 13 385 15 0 0 0 0 17601690 18308324 72550 79424 263072 242212 17937312 18629960 0 0 0 0 9643094 9956850 0 0 0 14919547 14377478 24562641 24334328 -6625329 -5704368 91935355 85812851 178069398 172882505 -86134043 -87069654 X WOODLAND POND, INC. DBA WOODLAND POND AT NEW PALTZ, WAS CREATED TO CONSTRUCT AND OPERATE A CONTINUING CARE RETIREMENT COMMUNITY (THE "CCRC") NAMED WOODLAND POND AT NEW PALTZ, UNDER ARTICLE 46 OF NEW YORK STATE PUBLIC HEALTH LAW. THE CCRC CONSISTS OF 177 INDEPENDENT LIVING UNITS, 24 INDEPENDENT LIVING COTTAGES, 60 ENRICHED HOUSING UNITS (INCLUDING 20 DEDICATED TO RESIDENTS WITH ALZHEIMER'S DISEASE AND DEMENTIA), 40 PRIVATE SKILLED NURSING BEDS, ADMINISTRATIVE OFFICES, AND COMMON AREAS. WOODLAND POND, INC., ALSO PROVIDES OUTPATIENT PHYSICAL AND OCCUPATIONAL THERAPY SERVICES AND THROUGH ITS DESIGNATION AS A NEW YORK STATE ASSISTED LIVING RESIDENCE, OFFERS ENHANCED LEVEL OF CARE IN 40 OF THE 60 TOTAL ENRICHED HOUSING UNITS. 0 0 21041278 18308324 WOODLAND POND OPERATES A CONTINUING CARE RETIREMENT COMMUNITY, WOODLAND POND AT NEW PALTZ, WHICH CONSISTED OF 201 INDEPENDENT LIVING UNITS (97% OCCUPANCY) AND 100 HEALTH CARE UNITS (92% OCCUPANCY) DURING 2017. WOODLAND POND ALSO PROVIDES OUTPATIENT PHYSICAL AND OCCUPATIONAL THERAPY SERVICES. WOODLAND POND HAS EARNED A REPUTATION FOR ITS ABILITY TO REHABILITATE ITS SKILLED NURSING RESIDENTS QUICKLY AND COMPREHENSIVELY WHICH ALLOWED IT TO REPORT INCREASED CENSUS IN ALL UNITS. WOODLAND POND RECEIVED A CMS 5 STAR RATING FOR ITS SKILLED NURSING FACILITY FOR THE FOURTH CONSECUTIVE YEAR. 21041278 1 0 0 0 0 0 1 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 74 0 385 1 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X MICHELLE GRAMOGLIA PRESIDENTCEO 8452565511 100 WOODLAND POND CIRCLE NEW PALTZ NY 12561 ALAN DUNEFSKY CHAIRMAN 1.00 X X 0 0 0 MICHAEL ROSENBERG VICE CHAIRMAN 1.00 X X 0 0 0 CHRISTOPHER DROUIN TREASURER 1.00 X X 0 0 0 RICHARD BARRY SECRETARY 14.00 X X 0 0 0 ANNA BRETT TRUSTEE 1.00 X 0 0 0 BEVERLY FINNEGAN TRUSTEE 1.00 X 0 0 0 LAUREL GARRICK DUHANEY TRUSTEE 1.00 X 0 0 0 JOHN KLASSEN TRUSTEE 1.00 X 0 0 0 A FLOYD LATTIN TRUSTEE 1.00 X 0 0 0 NADINE LEMMON TRUSTEE 1.00 X 0 0 0 ELAINE RYLANCE TRUSTEE 1.00 X 0 0 0 MARC SCHAIN TRUSTEE 1.00 X 0 0 0 RAY SMITH TRUSTEE 14.00 X 0 0 0 MICHELLE GRAMOGLIA PRESIDENT & CEO 37.50 X 205784 0 1385 CHRISTI BATTISTONI DIRECTOR OF FINANCE 37.50 X 93755 0 19552 PHILIP MEHL DIRECTOR OF LONG TERM CARE 37.50 X 106554 0 14554 406093 0 35491 2 0 1 0 ASSOCIATED ABBEY CARPET 1615 US ROUTE 9 WAPPINGERS FALLS NY 12590 FLOORING INSTALLATION 113443 SODEXO PO BOX 360170 PHILADELPHIA PA 15251 DIETARY MANAGEMENT FEE 103250 2 NET RESIDENT SERVICES REVENUE 623000 18308324 18308324 18308324 91659 91659 15053 0 15053 15053 15053 2889637 2901872 -12235 -12235 -12235 CAFETERIA 900099 138077 138077 CABLE TV/PHONE 900099 39212 39212 GIFT SHOP 900099 15753 15753 34117 34117 227159 18629960 18308324 0 321636 441584 121108 320476 7572654 6167541 1405113 54221 42639 11582 1244579 992093 252486 643812 506294 137518 473884 473884 39503 39503 96056 96056 78103 61420 16683 154328 31416 122912 137995 137995 1254313 1254313 3117 2171 946 4811919 4811919 4240101 4240101 216862 216862 RESIDENT SERVICES 1748962 1748962 MAINTENANCE & SUPPORT 784922 784922 CONTINGENT LIABILITY 140000 140000 BAD DEBT 111127 111127 86286 59517 26769 24334328 21041278 3293050 0 5706427 5101874 469894 460437 48317 50713 1344823 1141246 105167128 32559914 76040339 72607214 8304706 6241510 20849 209857 91935355 85812851 2103883 1441227 11716387 12894009 75822599 75160298 126889 1600000 1600000 86826529 81660082 178069398 172882505 X -86192193 -87129633 58150 59979 -86134043 -87069654 91935355 85812851 X -5704368 -19828 4788585 X 0 1 X 1 0 X 1000 4395 5395 21953990 22024455 21587623 17601690 18308324 101476082 21954990 22028850 21587623 17601690 18308324 101481477 0 0 0 101481477 96235 97221 95780 110727 106712 506675 96235 97221 95780 110727 106712 506675 136535 204601 199669 227878 227159 995842 22187760 22330672 21883072 17940295 18642195 102983994 0.98540 0.98650 0.00490 0.00500 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2013 AMOUNT: $ 136,535. 2014 AMOUNT: $ 110,540. 2015 AMOUNT: $ 75,890. 2016 AMOUNT: $ 31,103. 2017 AMOUNT: $ 34,117. CAFETERIA - 2014 AMOUNT: $ 49,681. 2015 AMOUNT: $ 80,571. 2016 AMOUNT: $ 137,224. 2017 AMOUNT: $ 138,077. CABLE TV/PHONE - 2014 AMOUNT: $ 44,380. 2015 AMOUNT: $ 43,208. 2016 AMOUNT: $ 41,838. 2017 AMOUNT: $ 39,212. GIFT SHOP - 2016 AMOUNT: $ 17,713. 2017 AMOUNT: $ 15,753. X X 1 56.00 1 1 1 0 1 X 5522166 5522166 94478541 29307278 65171263 5166421 3252636 1913785 72607214 ORIGINAL ISSUE DISCOUNT ON BONDS -707018 REFUNDABLE FEES 58801170 FUTURE SERVICE OBLIGATIONS 23221000 OTHER LIABILITIES 344930 81660082 X 25724132 -19828 7114000 7094172 18629960 0 18629960 26661572 2327244 2327244 24334328 0 24334328 PART II, LINE 5: AS PART OF THE DEEDING OF THE CONSERVATION EASEMENT FROM WOODLAND POND AT NEW PALTZ TO WALKILL VALLEY LAND TRUST, THE WALKILL VALLEY LAND TRUST MAY: (1) AT ALL REASONABLE TIMES ENTER THE PROPERTY TO ENSURE THAT WOODLAND POND IS COMPLIANT WITH ALL COVENANTS AND PURPOSES OF THE EASEMENT; (2) ENFORCE SUCH TERMS; (3) TAKE ANY AND ALL ACTIONS TO REMEDY OR ABATE VIOLATIONS OF THE EASEMENT; (4) MAKE SCIENTIFIC AND EDUCATIONAL OBSERVATIONS AND STUDIES; AND (5) MONITOR AND MANAGE THE PROPERTY. THERE ALSO EXISTS A RIGHT BY WALKILL VALLEY LAND TRUST TO MONITOR THE CONDITION OF ANY RARE PLANT AND ANIMAL POPULATIONS, AND TO MANAGE THOSE SPECIES TO ENSURE THEIR CONTINUED PRESENCE AND VIABILITY. PART II, LINE 9: WOODLAND POND AT NEW PALTZ MADE A ONE-TIME PAYMENT TO THE WALKILL VALLEY LAND TRUST, WHICH AGREED TO MONITOR AND HOLD THE LAND IN TRUST FOR PERPETUITY. THE ONE-TIME PAYMENT WAS ADDED TO THE COST OF CONSTRUCTION/DEVELOPMENT AND IS DEPRECIATED ACCORDINGLY. PART IV, LINE 2B: DEPOSITS ON UNOCCUPIED UNITS REPRESENT THE LIABILITY RELATED TO REFUNDABLE ENTRANCE FEES RECEIVED FROM PROSPECTIVE RESIDENTS. THESE AMOUNTS ARE FULLY REFUNDABLE, PLUS INTEREST EARNED ON THESE AMOUNTS, UNTIL SUCH TIME THAT THE RESIDENT OCCUPIES THE UNIT (RESIDENCY DATE). ONCE THE RESIDENCY DATE HAS OCCURRED, AMOUNTS IN THIS FUND ARE PARTIALLY REFUNDABLE IN ACCORDANCE WITH THE TERMS OF THE RESIDENCE AND CARE AGREEMENT EXECUTED BY EACH RESIDENT AT THE TIME OF THE INITIAL DEPOSIT AND APPLICATION. PART X, LINE 2: THE ORGANIZATION IS A NONPROFIT CORPORATION UNDER 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 ORGANIZATION IS ALSO EXEMPT FROM NEW YORK STATE INCOME TAXES. THE ORGANIZATION FOLLOWS THE PROVISIONS OF THE INCOME TAX STANDARD REGARDING THE RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. THE APPLICATION OF THESE PROVISIONS HAS NO IMPACT ON THE ORGANIZATION'S FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN FUTURE SERVICE OBLIGATION 7,114,000. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSS ON EXTINGUISHMENT OF DEBT 2,327,244. X X X 0 0 0 0 0 0 0 0 0 MICHELLE GRAMOGLIA PRESIDENT & CEO 205784 0 0 0 0 0 0 0 1385 0 207169 0 0 0 A ULSTER COUNTY CAPITAL RESOURCE CORP 273282033 903768AG4 2017-12-28 77800000 REFUNDING AND REFINANCING 0 0 0 A 77800000 1541860 1675188 74580952 2017 1 0 1 1 A 0 0 0 0 0 0 1 A 0 1 0 0 0 0 0 0 0 ULSTER COUNTY IDA - PART II, LINE 7 - ADDITIONAL INFORMATION INLCUDED IN THIS $2,996,161 OF ISSUANCE COSTS FROM PROCEEDS IS $670,565 OF PROCEEDS USED FOR CREDIT ENHANCEMENT. THE BALANCE OF $2,325,596 IS THE AMOUNT OF PROCEEDS USED FOR BOND ISSUANCE COSTS. ULSTER COUNTY IDA - PART IV, LINE 2C THE REBATE COMPUTATION WAS PERFORMED ON 12/31/2012. ULSTER COUNTY CAPITAL RESOURCE CORP. - 2014 THE 2014 BOND PROCEEDS WERE USED PRIMARILY TO FULLY REDEEM THE VARIABLE RATE DEMAND BONDS OF ULSTER COUNTY IDA FROM THE 2007 BOND ISSUE. THE BONDS WERE REPLACED WITH FIXED RATE DEBT, THEREBY ELIMINATING INTEREST RATE RISK. ULSTER COUNTY CAPITAL RESOURCE CORP. - 2017 THE 2017 BOND PROCEEDS WERE USED PRIMARILY TO (A) REFINANCE THE SERIES 2007 A BONDS; (B) REFINANCE THE SERIES A AND B BONDS; AND (C) PAY A PORTION OF THE COSTS INCIDENTAL TO THE ISSUANCE OF THE SERIES 2017 BONDS, INCLUDING ISSUANCE COSTS OF THE SERIES 2017 BONDS AND ANY RESERVE FUNDS AS MAY BE NECESSARY TO SECURE THE SERIES 2017 BONDS. THE BONDS ARE SECURED BY REAL PROPERTY OF THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 11B THE DIRECTOR OF FINANCE AND CEO UNDERTAKE A DETAILED REVIEW OF THE 990. IN ADDITION, SELECT BOARD MEMBERS UNDERTAKE A REVIEW OF THE ORGANIZATION'S FORM 990 AND THEN REVIEW WITH THE CEO ANY COMMENTARY, OBSERVATIONS, AND RECOMMENDATIONS, AS APPROPRIATE. THE FULL BOARD WILL RECEIVE A COPY OF THE FORM 990 BEFORE IT WILL BE FILED. FORM 990, PART VI, SECTION B, LINE 12C ANNUAL COMPLIANCE QUESTIONNAIRES ARE REQUIRED TO BE SIGNED BY ALL OFFICERS, DIRECTORS, TRUSTEES AND KEY EMPLOYEES. IT IS THE ROLE OF THE FINANCE/AUDIT COMMITTEE OF THE WOODLAND POND BOARD TO ADMINISTER THE WOODLAND POND CONFLICT OF INTEREST POLICY, AND DETERMINE BASED ON THE CONFLICT OF INTEREST DISCLOSURES MADE BY EACH DIRECTOR IF THERE IS A CONFLICT OF INTEREST BASED ON THIS POLICY. ONCE REVIEWED AND ADDRESSED, ALL COMPLETED CONFLICT OF INTEREST DISCLOSURES ARE MAINTAINED BY THE WOODLAND POND CORPORATE COMPLIANCE OFFICER. FORM 990, PART VI, SECTION B, LINE 15A THE PROCESS FOR DETERMINING COMPENSATION OF THE ORGANIZATION'S CEO WAS PERFORMED BY THE EXECUTIVE COMMITTEE OF THE BOARD. TO COMPLETE THIS PROCESS, THE COMPENSATION WAS COMPARED AGAINST INDUSTRY BENCHMARK INFORMATION, INCLUDING THE FORM 990 OF OTHER SIMILAR ORGANIZATIONS IN THE STATE OF NEW YORK. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST, THE ORGANIZATION WILL MAKE AVAILABLE ONLY THOSE DOCUMENTS REQUIRED TO BE DISCLOSED UNDER THE PUBLIC INSPECTION LAWS. FORM 990, PART XI, LINE 9: CHANGE IN FUTURE SERVICE OBLIGATION 7,114,000. TEMPORARILY RESTRICTED - CONTRIBUTIONS RECEIVED 1,829. LOSS ON EXTINGUISHMENT OF DEBT -2,327,244.