2018-11-05T13:05:34-06:00 2017-12-31 271728945 PKF O'CONNOR DAVIES LLP 500 MAMARONECK AVENUE HARRISON NY 105281633 990 2017-01-01 113277669 PECONIC LANDING AT SOUTHOLD INC PECO 6314773800 1500 BRECKNOCK ROAD GREENPORT NY 11944 ROBERT SYRON PRESIDENT/CEO 6314773800 2018-11-05 1 GARRETT M HIGGINS P00543209 9143818900 2018-11-05 65.51.112.58 2018-11-05 13:05:31 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 9616F4B14A694591D1E716C270910E6FA5556DA3 2017 2019-02-21 02:37:17Z ROBERT SYRON 1500 BRECKNOCK ROAD GREENPORT NY 11944 40897689 0 4305 X WWW.PECONICLANDING.ORG X 1994 NY PECONIC LANDING STRIVES TO BE A PREEMINENT SENIOR SERVICES PROVIDER. GUIDED BY OUR CORE VALUES, AND PHILOSOPHY OF INNOVATION, WE ARE COMMITTED TO WORK IN PARTNERSHIP WITH ALL TO ACHIEVE OUR VISION. 12 11 357 138 0 0 1322552 1587572 19277756 24603113 864270 1338930 2266389 1965140 23730967 29494755 0 55188 0 0 13998446 16779204 0 0 0 12661192 14508716 26659638 31343108 -2928671 -1848353 147903537 147264913 180906172 181559213 -33002635 -34294300 X PECONIC LANDING STRIVES TO BE ONE OF THE PREEMINENT CONTINUING CARE RETIREMENT COMMUNITIES IN THE UNITED STATES. WE ARE ACHIEVING OUR GOALS BY OPERATING AS A PARTNERSHIP WITH RESIDENTS, BOARD OF TRUSTEES, MANAGEMENT AND STAFF. 0 0 25951142 55188 24603113 PECONIC LANDING IS A SENIOR LIFECARE COMMUNITY IN GREENPORT, PROVIDING SUPPORTIVE HOUSING, CARE AND AMENITIES TO 370+ SENIORS, INCLUDING INDEPENDENT, SKILLED NURSING AND ENRICHED LIVING HERE ON OUR CAMPUS, DEPENDING ON NEED. THE NURSING CENTER OFFERS MEDICAL, NURSING AND AN INTERDISCIPLINARY TEAM FOR EACH RESIDENT BASED ON AN INDIVIDUAL CARE PLAN.THE RESIDENTS OF PECONIC LANDING PROVIDE ENORMOUS BENEFIT TO THE HOSPITAL, NOT ONLY THROUGH UTILIZATION OF THE HOSPITAL, ANCILLARY AND PHYSICIAN SERVICES BUT ALSO AS GENEROUS DONORS TO OUR FOUNDATION - WHICH PROVIDES CRUCIAL SUPPORT TO THIS HOSPITAL. AS AN ORGANIZATION, PECONIC LANDING HAS BECOME A VALUED RESOURCE ON THE NORTH FORK, PROVIDING CULTURAL AND EDUCATIONAL PROGRAMS, COMMUNITY-WIDE SUPPORT FOR A MULTITUDE OF NON-PROFITS AND AS A WILLING PARTNER TO THE VILLAGE, TOWN AND HOSPITAL DURING TIMES OF NEED. PL IS FULLY CCAC ACCREDITED, FITCH-RATED, AND WINNER OF BEST PRACTICES AWARD FOR 2010 AND 2012. IN ADDITION, WE ARE A MEDICARE 5-STAR NURSING HOME, THE HIGHEST RATING GIVEN AND AN HONOR EARNED BY ONLY 18% OF NYS NURSING HOMES.PECONIC LANDING HEALTH SERVICES OFFERS ADDITIONAL SHORT AND LONG TERM CARE FOR OUR MEMBERS AS WELL AS THOSE IN THE GREATER COMMUNITY. OPENED IN APRIL 2016, THE BLUFFS OFFERS A STATE OF THE ART PHYSICAL AND OCCUPATIONAL THERAPY CENTER WITH INDOOR AND OUTDOOR COMPONENTS. INDIVIDUALS CAN ENJOY ON OF THE 17 PRIVATE ROOMS WITH ACCESS TO THE COMMUNITY CENTER AMENITIES. THE HARBORS SERVES THOSE IN NEED OF MEMORY SUPPORT AND ASSISTED LIVING. HARBOR NORTH IS MADE UP OF 26 ONE BEDROOM APARTMENT HOMES WITH CARE SERVICES PROVIDED WHEN NEEDED. HARBOR SOUTH IS THE NEWEST ADDITION TO THE HEALTH CENTER FEATURING 16 PRIVATE MEMORY SUPPORT SUITES WITH SHARED NEIGHBORHOOD AMENITIES, INCLUDING AN OUTDOOR "DISCOVERY" GARDEN. THE SHORES, KNOWN FOR ITS AWARD WINNING CARE, IS A FULL SERVICE SKILLED NURSING CENTER OFFERING AROUND THE CLOCK LONG TERM CARE. WITH ROOM FOR 43 INDIVIDUALS, OUR MEMBERS BENEFIT FROM ACCESS TO COMMUNITY LIVING SPACES, WHILE LIVING RIGHT DOWN THE HALL FROM THEIR LOVED ONES. IN ADDITION, PECONIC LANDING OFFERS CARE TO THE GREATER COMMUNITY THROUGH ITS HOME HEALTH CARE AGENCY. THESE SERVICES ARE DESIGNED TO HELP INDIVIDUALS AGE SAFELY IN PLACE AND RECEIVE THE NECESSARY SUPPORT IN THE COMFORT OF THEIR HOME.THE EMPLOYEE APPRECIATION FUND FOR 2017 RAISED $490,966 TO BENEFIT THE 300+ EMPLOYEES WHO WORK AT PECONIC LANDING. AS PECONIC LANDING HAS ESTABLISHED A NO TIPPING POLICY, RESIDENTS MAY SHOW THEIR APPRECIATION BY CONTRIBUTING TO THE FUND. MONIES DONATED TO THIS FUND ARE DISTRIBUTED TO THE STAFF BASED ON A FAIR AND EQUITABLE PLAN APPROVED BY A RESIDENT COMMITTEE. EXECUTIVE MANAGEMENT AND DIRECTORS ARE EXCLUDED FROM THIS FUND.12TH ANNUAL MAY MILE (TO SUPPORT THE GREENPORT FIRE DEPARTMENT)FOR THE 12TH YEAR, PECONIC LANDING CELEBRATED OLDER AMERICAN'S MONTH WITH OUR ANNUAL JOHN MAY MILE AND 5K RACE. WITH OVER 600 PARTICIPANTS, 100 LOCAL SPONSORS AND 200 VOLUNTEERS, THE EVENT RAISED $24,800 TO BENEFIT THE GREENPORT FIRE DEPARTMENT. OVER $239,000 HAS BEEN DONATED TO THE LOCAL FIRE DEPARTMENT OVER THE 12- YEAR HISTORY OF THE EVENT.FOR THE SEVENTH CONSECUTIVE YEAR, PECONIC LANDING WORKED WITH AREA BUSINESSES TO PROVIDE A WEDDING AT BRECKNOCK HALL FREE OF CHARGE TO A BRIDE AND GROOM (AT LEAST ONE OF WHICH) HAS SERVED OR IS IN ACTIVE DUTY IN THE US ARMED FORCES, KNOWN AS THE ANNUAL VETERANS DAY WEDDING GIVEBACK.THE FOLLOWING EVENTS TOOK PLACE IN 2017 FOR THE RESIDENTS OF PECONIC LANDING:* METROPOLITAN OPERA 10 PERFORMANCES BROADCAST LIVE VIA HD FROM THE METROPOLITAN OPERA IN NYC THROUGH A LICENSED AGREEMENT. ATTENDANCE IS APPROXIMATELY 100 MEMBERS PER SHOW FOR A TOTAL OF 1,000 IN ATTENDANCE. THE PERFORMANCES BRING CULTURAL EXPERIENCES TO OUR MEMBERS WHO OTHERWISE WOULD NOT BE ABLE TO TRAVEL 100+ MILES EACH WAY TO NYC. * A NATURE'S JOURNAL PRESENTED BY JOHN HOLZAPFEL. PRESENTED ONCE PER MONTH, MEMBERS AND THE PUBLIC ENJOY LEARNING ABOUT NATURE AND THE SEASONS. ATTENDANCE IS BETWEEN 85-100 EACH MONTH FOR A TOTAL OF 1,020-1,200 PER YEAR.* END OF SUMMER CELEBRATION AN ANNUAL EVENT WITH MUSIC PROVIDED ON THE OUTDOOR PATIO AT BRECKNOCK HALL. THE ATLANTIC WIND SYMPHONY PERFORMS AMERICANA FAVORITES WITH THE MUSIC OF GERSHWIN, SOUSA AND BROADWAY SHOW TUNES. MUSIC IS FOLLOWED BY A FIREWORKS SHOW OVER THE PONDS AND SCULPTURE GARDEN AT BRECKNOCK HALL/ PECONIC LANDING. OPEN TO THE PUBLIC AND MEMBERS, THE EVENT DRAWS APPROXIMATELY 650-700 FROM BOTH THE PUBLIC AND MEMBERS EACH LABOR DAY WEEKEND. 25951142 1 1 0 0 0 0 0 0 1 1 1 1 0 1 1 1 0 1 0 0 0 0 0 0 1 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 30 0 357 1 0 0 0 0 0 0 0 0 0 0 X 12 11 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 NY X X ROBERT SYRON 6314773800 1500 BRECKNOCK ROAD GREENPORT NY 11944 SANDRA NOVICK CHAIRPERSON 1.00 X X 0 0 0 PAUL J CONNOR VICE CHAIR 1.00 X X 0 0 0 THOMAS DOOLAN SECRETARY 1.00 2.00 X X 0 0 0 GREGORY FERRARIS TREASURER 1.00 X X 0 0 0 ROBERT SYRON PRESIDENT/CEO 40.00 5.00 X X 553362 0 118684 ROSAMOND BAIZ BOARD MEMBER 1.00 X 0 0 0 REBECCA A CHAPMAN BOARD MEMBER 1.00 X 0 0 0 ROBERT GOLDMAN BOARD MEMBER 1.00 1.00 X 0 0 0 CAROL HANCE BOARD MEMBER 1.00 X 0 0 0 THOMAS MCCARTHY BOARD MEMBER 1.00 1.00 X 0 0 0 EDWARD WELLINGTON WEBB II BOARD MEMBER 1.00 1.00 X 0 0 0 DONALD T RUSSO BOARD MEMBER 1.00 2.00 X 0 0 0 STEVEN CARROLL CFO 40.00 4.00 X 274575 0 50990 GREGORY GARRETT EXECUTIVE VP - ADM. HEALTH 40.00 4.00 X 268769 0 69814 PATRICIA LUTZKY V.P. RESIDENT SERVICES 40.00 X 184836 0 42161 DARRYL VOLINSKI DIR. OF ENVIRON. SERVICES 40.00 X 206042 0 49865 WILLIAM BJORNHOLM DIR. OF FINE DINING 40.00 X 153154 0 43141 LAURELLE CASSONE DIRECTOR OF MARKETING 40.00 X 128392 0 44235 JANE WILLSEY DIRECTOR OF HUMAN RESOURCES 40.00 X 144997 0 43622 DIANE BIANCULLI NURSE PRACTITIONER 40.00 X 119848 0 11793 2033975 0 474305 11 0 1 0 SODEXO INC & AFFILIATES PO BOX 536922 ATLANTA GA 303536922 FOOD MANAGEMENT SERVICES 1545190 LOWE'S PO BOX 530954 ATLANTA GA 303530954 CONSTRUCTION SERVICES 1490895 RESCOMM PHC INC 5925 SOUND AVENUE RIVERHEAD NY 11901 PLUMBING AND REPAIR SERVICES 282912 WE'LL FLOOR U INC 201 MONTAUK HWY HAMPTON BAYS NY 11946 FLOORING SERVICES 270483 GEORGE'S PAINTING INC PO BOX 229 PECONIC NY 11958 PAINTING SERVICES 151747 9 24800 800000 762772 1587572 PRIVATE PATIENT REVENUE 623000 19313767 19313767 ENRICHED HOUSING TRANSFER 900099 2338858 2338858 MEDICARE REVENUE 623000 1775300 1775300 RENTAL REVENUE 531110 733725 733725 MEDICAID REVENUE 623000 441463 441463 24603113 658514 658514 184613 184613 21492 0 21492 21492 21492 11898737 11402934 495803 495803 495803 0 24800 0 0 REMARKETING FEE 900099 1252173 1252173 LATE FEES 900099 215896 215896 GUEST ROOM + MEALS 900099 145266 145266 330313 330313 1943648 29494755 24603113 0 3304070 55188 55188 1438313 1129521 308792 394 309 85 10948585 8598026 2350559 248239 194944 53295 2797632 2197007 600625 1346041 1057059 288982 109873 68 109805 128631 128631 3229 3229 521091 469290 51801 172972 172972 963182 383918 579264 202549 80158 122391 3563440 3419636 143804 38144 12126 26018 22063 12693 9370 799133 757523 41610 4368361 4296970 71391 143339 51726 91613 DIETARY SUPPLIES 1475562 1475562 PURCHASED AND CONTRACTE 753527 671877 81650 REPAIRS & MAINTENANCE 340880 324645 16235 BAD DEBT EXPENSE 313122 313122 589618 449774 139844 31343108 25951142 5391966 0 X 715739 335874 10613504 9874257 141576 0 2406549 2743372 406695 333455 57942 73417 1005098 1084908 84570649 33521999 51105262 51048650 55137709 55137709 26313463 26633271 147903537 147264913 3368752 3334428 6114228 7054320 44526446 43473061 15532379 17974445 3721655 0 107642712 109722959 180906172 181559213 X -33865617 -35067138 362982 272838 500000 500000 -33002635 -34294300 147903537 147264913 -1848353 556688 0 X X 0 1 X 1 0 X 869396 505320 670859 1322552 1587572 4955699 17217153 17565572 17687090 19277756 24603113 96350684 18086549 18070892 18357949 20600308 26190685 101306383 196265 25000 221265 0 196265 25000 221265 101085118 1367750 725595 795329 853179 864619 4606472 1367750 725595 795329 853179 864619 4606472 967197 1219827 1355468 2238831 1943648 7724971 20421496 20016314 20508746 23692318 28998952 113637826 0.88950 0.88340 0.04050 0.04940 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: MISC INCOME - 2013 AMOUNT: $ 347,509. 2014 AMOUNT: $ 79,933. 2015 AMOUNT: $ 17,689. 2016 AMOUNT: $ 85,117. 2017 AMOUNT: $ 80,198. REMARKETING FEE - 2013 AMOUNT: $ 451,834. 2014 AMOUNT: $ 648,188. 2015 AMOUNT: $ 799,195. 2016 AMOUNT: $ 767,176. 2017 AMOUNT: $ 1,252,173. GUEST ROOM MEALS - 2013 AMOUNT: $ 90,339. 2014 AMOUNT: $ 91,028. 2015 AMOUNT: $ 116,630. 2016 AMOUNT: $ 122,466. 2017 AMOUNT: $ 145,266. LATE FEES - 2013 AMOUNT: $ 77,515. 2014 AMOUNT: $ 95,302. 2015 AMOUNT: $ 125,598. 2016 AMOUNT: $ 154,518. 2017 AMOUNT: $ 215,896. REAL ESTATE ASSESSMENT - 2014 AMOUNT: $ 39,660. 2015 AMOUNT: $ 41,058. 2016 AMOUNT: $ 41,324. 2017 AMOUNT: $ 40,936. PARKING INCOME - 2014 AMOUNT: $ 11,933. 2015 AMOUNT: $ 9,125. 2016 AMOUNT: $ 17,120. 2017 AMOUNT: $ 12,885. CONVENIENCE STORE - 2014 AMOUNT: $ 61,647. 2015 AMOUNT: $ 59,580. 2016 AMOUNT: $ 68,380. 2017 AMOUNT: $ 69,379. BEAUTY SHOP - 2014 AMOUNT: $ 19,406. 2015 AMOUNT: $ 24,291. 2016 AMOUNT: $ 16,706. 2017 AMOUNT: $ 15,519. TELEVISION INCOME - 2014 AMOUNT: $ 80,205. 2015 AMOUNT: $ 58,753. 2016 AMOUNT: $ 12,716. 2017 AMOUNT: $ 19,859. CAFETERIA INCOME - 2014 AMOUNT: $ 92,525. 2015 AMOUNT: $ 97,250. 2016 AMOUNT: $ 98,562. 2017 AMOUNT: $ 82,902. OPTIONS UPGRADES - 2015 AMOUNT: $ 6,299. 2017 AMOUNT: $ 8,635. ABATEMENT OF PROPERTY TAXES - 2016 AMOUNT: $ 854,746. 2017 AMOUNT: $ 0. 1 3229 3229 0 PART II-B, LINE 1: COSTS ARE INCURRED AS PART OF DUES PAID TO NURSING HOME INDUSTRY ORGANIZATIONS. 0 1 X 500000 1265 501265 500000 500000 0.99750 0.00250 0 0 11034275 11034275 57019478 22530331 34489147 16432074 10991668 5440406 84822 84822 51048650 INV. IN PECONIC LANDING HOUSING 55137709 C 55137709 ASSETS LIMITED TO USE 22601762 OTHER FINANCING COST, NET 963487 DUE FROM RELATED PARTIES 2148648 FUNDED PENSION COSTS 820374 OTHER RECEIVABLES 99000 26633271 REFUNDABLE DEPOSIT/ACCRUED INT 107862308 OPTIONS & UPGRADE LIABILITY 844376 BOND INTEREST PAYABLE 195901 DEFERRED COMPENSATION LIABILITY 820374 109722959 X 32827731 556688 5494737 6051425 26776306 2718449 2718449 29494755 37187220 8562561 8562561 28624659 2718449 2718449 31343108 PART IV, LINE 2B: THE ESCROW LIABILITY ACCOUNTS REPRESENT THE ESCROW TO BE USED TO PURCHASE ANOTHER COOPERATIVE UNIT IF THE RESIDENT CAN LIVE INDEPENDENTLY AGAIN OR BE PAID UPON A RESIDENT'S DEATH TO THE RESIDENT'S ESTATE, AS DIRECTED BY THE RESIDENT'S WILL. PART V, LINE 4: AN ENDOWMENT FUND WAS FORMED FOR THE BENEFIT OF THE MEMORY SUPPORT NEIGHBORHOOD. PART X, LINE 2: THE COMPANY FILES INCOME TAX RETURNS IN THE U.S. FEDERAL AND NEW YORK STATE JURISDICTIONS AND RECOGNIZE THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE COMPANY HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE COMPANY IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO DECEMBER 31, 2014. PART XI, LINE 2D - OTHER ADJUSTMENTS: REVENUE ATTRIBUTABLE TO CONSOLIDATED & RELATED ENTITIES 5,494,737. PART XI, LINE 4B - OTHER ADJUSTMENTS: ELIMINATING ENTRY 1,984,724. RENTAL REVENUE FROM AFFILIATE REPORTED ON PART VIII, LINE 2 733,725. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES ATTRIBUTABLE TO CONSOLIDATED & RELATED ENTITIES 8,562,561. PART XII, LINE 4B - OTHER ADJUSTMENTS: ELIMINATING ENTRY 1,984,724. RENTAL REVENUE FROM AFFILIATE REPORTED ON PART VIII, LINE 2 733,725. 5K RUN 24800 24800 24800 24800 0 EAST END ARTS 133 EAST MAIN STREET RIVERHEAD NY 11901 112285495 501(C)(3) 20571 GENERAL SUPPORT GREENPORT FIRE DEPARTMENT 236 3RD STREET GREENPORT NY 11944 113429066 VILLAGE OF GREENPORT 9817 GENERAL SUPPORT EASTERN LONG ISLAND HOSPITAL ASSOCIATION INC 201 MANOR PLACE GREENPORT NY 11944 111633563 501(C)(3) 24800 GENERAL SUPPORT 3 X 1 1 X X X X 0 1 0 0 0 0 0 1 0 ROBERT SYRON PRESIDENT/CEO 281766 0 251250 0 20346 0 47225 0 71459 0 672046 0 0 0 STEVEN CARROLL CFO 205816 0 48276 0 20483 0 21315 0 29675 0 325565 0 0 0 GREGORY GARRETT EXECUTIVE VP - ADM. HEALTH 192877 0 57500 0 18392 0 28800 0 41014 0 338583 0 0 0 PATRICIA LUTZKY V.P. RESIDENT SERVICES 126149 0 39000 0 19687 0 25494 0 16667 0 226997 0 0 0 DARRYL VOLINSKI DIR. OF ENVIRON. SERVICES 151045 0 40137 0 14860 0 20282 0 29583 0 255907 0 0 0 WILLIAM BJORNHOLM DIR. OF FINE DINING 120169 0 23000 0 9985 0 14163 0 28978 0 196295 0 0 0 LAURELLE CASSONE DIRECTOR OF MARKETING 81155 0 15000 0 32237 0 16058 0 28177 0 172627 0 0 0 JANE WILLSEY DIRECTOR OF HUMAN RESOURCES 111481 0 23000 0 10516 0 14204 0 29418 0 188619 0 0 0 PART I, LINE 1A PECONIC LANDING AT SOUTHOLD, INC. MADE GROSS-UP PAYMENT FOR THE DIRECTOR'S INSURANCE FOR THE FOLLOWING INDIVIDUALS: ROBERT SYRON, PRESIDENT & CEO, STEVEN CARROLL, CFO, GREGORY GARRETT, EXECUTIVE VP, DARRYL VOLINSKI, DIRECTOR OF ENVIRONMENTAL SERVICES, PATRICIA LUTZKY, VP OF RESIDENT SERVICES, LAURELLE CASSONE, DIRECTOR OF MARKETING, AND JANE WILLSEY, DIRECTOR OF HUMAN RESOURCES. PECONIC LANDING AT SOUTHOLD, INC. PAYS THE HEALTH CLUB DUES FOR ROBERT SYRON, PRESIDENT & CEO AND DARRYL VOLINSKI, DIRECTOR OF ENVIRONMENTAL SERVICES. THE AMOUNT OF DUES IS NOT INCLUDED IN THE INDIVIDUAL'S W-2. PART I, LINE 4B ROBERT SYRON, PRESIDENT & CEO, PARTICIPATES IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN. HE RECEIVED A EMPLOYER CONTRIBUTION ON HIS BEHALF IN THE AMOUNT OF $18,425 IN 2017. PART I, LINE 7 BONUSES WERE PAID TO VARIOUS OFFICERS, KEY EMPLOYEES AND HIGHLY COMPENSATED EMPLOYEES FOR ADDITIONAL RESPONSIBILITIES AND EXTRAORDINARY ACHIEVEMENT. THESE BONUSES WERE APPROVED BY THE BOARD AND SIGNED OFF BY THE PRESIDENT OF THE BOARD. A SUFFOLK COUNTY ECONOMIC DEVELOPMENT CORPORATION 273722095 86476RAD6 2010-12-08 29173331 REFUNDING 0 0 0 B SOUTHOLD LOCAL DEVELOPMENT CORPORATION 471450671 844584AL6 2015-03-05 20229958 REFUNDING 0 0 0 A 3150000 29311913 583467 1543870 28406165 183699 2010 1 0 1 1 B 630000 20275989 404599 833369 18556340 975018 2015 1 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 A 0 0 1 1 0 0 1 GE CAPITAL CORPORATION 30.000000000000 1 0 1 B 0 0 1 1 0 0 0 0 1 A 1 B 1 FORM 990, PART VI, SECTION B, LINE 11B THE FINANCE COMMITTEE MEETS WITH A DESIGNATED BOARD MEMBER WHO HAS BEEN ASSIGNED BY OTHER BOARD MEMBERS TO REVIEW THE FORM 990. THE FORM 990 IS PRESENTED TO THE DESIGNATED BOARD MEMBER AND THE FULL EXTENT OF THE FORM AND ITS PREPARATION IS EXPLAINED AT THE TIME. THE DESIGNATED BOARD MEMBER THEN REVIEWS AND APPROVES THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C IN THE EVENT A MEMBER OF THE BOARD OF TRUSTEES OF PECONIC LANDING AT SOUTHOLD, INC., OR THE MEMBER'S SPOUSE, CHILD, PARENT OR SIBLING, AS A RESULT OF A TRANSACTION, INVESTMENT OR ACTIVITY (HEREIN REFERRED TO AS A MATTER) WITH OR INVOLVING PECONIC LANDING AT SOUTHOLD, INC., PECONIC LANDING HOUSING ASSOCIATION COOPERATIVE, INC., PECONIC LANDING FOUNDATION, INC. (REFERRED TO IN THE AGGREGATE AS PECONIC LANDING) WILL RECEIVE ANY PROFIT OR GAIN, WHETHER DIRECTLY OR INDIRECTLY, THEN THE MEMBER SHALL PROMPTLY DISCLOSE THAT INTEREST TO THE BOARD AND SHALL NOT PARTICIPATE IN ANY DECISION ON SUCH A MATTER. THE MEMBER SHALL NOT VOTE ON, AND SHALL REMOVE HIM OR HERSELF FROM THE MEETING DISCUSSING SUCH A MATTER. THE MEMBER SHALL ALSO DISCLOSE ANY KNOWN SIGNIFICANT REASON(S) THAT SUCH A MATTER MIGHT NOT BE IN THE BEST INTERESTS OF PECONIC LANDING. THE MEMBER'S ABSTENTION FROM THE MEETING AND VOTE AND THE REASON FOR IT WILL BE RECORDED IN THE MINUTES OF ANY MEETING AT WHICH SUCH A MATTER OR MATTERS ARE DISCUSSED. EACH MEMBER IS REQUIRED TO SUBMIT AN ANNUAL DISCLOSURE STATEMENT AT THE BEGINNING OF EACH CALENDAR YEAR, AND WITHIN THIRTY (30) DAYS FOLLOWING THE EFFECTIVE DATE OF THIS POLICY. FORM 990, PART VI, SECTION B, LINE 15 PHILOSOPHY REGARDING EXECUTIVE COMPENSATION - THE BOARD OF TRUSTEES OF PECONIC LANDING AT SOUTHOLD, INC. SHALL HAVE THE SOLE RESPONSIBILITY FOR ESTABLISHING ALL MATTERS PERTAINING TO EXECUTIVE COMPENSATION. THE BOARD RECOGNIZES THAT IT IS CHARGED WITH ESTABLISHING A TOTAL COMPENSATION PACKAGE NECESSARY TO ATTRACT HE BEST TALENT POSSIBLE WHILE BEING FULLY COGNIZANT OF ITS FIDUCIARY RESPONSIBILITY TO THE ORGANIZATION. THE BOARD, THEREFORE, ASSURES THAT DECISIONS INVOLVING EXECUTIVE COMPENSATION SHALL BE REASONABLE AND MEET THE REQUIREMENTS FOR A TAX-EXEMPT ENTITY, WHICH ARE: (1) SHALL BE BASED ON RELIABLE MARKET COMPARABILITY DATA; (2) THE BASIS TO SUPPORT EXECUTIVE COMPENSATION SHALL BE DOCUMENTED; AND (3) ALL MATTERS RELATED TO EXECUTIVE COMPENSATION ARE MADE FREE FROM ANY DIRECT OR INDIRECT CONFLICTS OF INTEREST. COMPENSATION NEGOTIATION - THE BOARD OF PECONIC LANDING AT SOUTHOLD, INC. APPOINTS THE FINANCE COMMITTEE TO NEGOTIATE ON BEHALF OF THE BOARD ALL MATTERS OF EXECUTIVE COMPENSATION, INCLUDING BASE WAGE, INCENTIVES, BONUSES, MERIT INCREASES, PERQUISITES, AND BENEFITS. THE COMMITTEE SHALL HAVE THE AUTHORITY TO NEGOTIATE BUT SHALL MAKE NO WARRANTY ON BEHALF OF THE BOARD IN MATTERS RELATING TO COMPENSATION. THE FINANCE COMMITTEE SHALL PRESENT ITS RECOMMENDATIONS CONCERNING EXECUTIVE COMPENSATION TO THE BOARD IN WRITING, INCLUDING; (1) DATA OR SOURCES USED IN DETERMINING COMPENSATION RECOMMENDATIONS; (2) A REVIEW OF EXECUTIVE PERFORMANCE; AND (3) FULL DISCLOSURE OF ANY POTENTIAL CONFLICTS OF INTEREST. THE FINANCE COMMITTEE SHALL MAKE ASSURANCE THAT FINAL EXECUTIVE COMPENSATION RECOMMENDATIONS ARE INDEPENDENTLY APPROVED BY COMMITTEE MEMBERS ACTING ON BEHALF OF THE BOARD IN A NON-CONFLICT OF INTEREST POSITION. BASIS FOR EXECUTIVE COMPENSATION - TO ENSURE THE REASONABLENESS OF EXECUTIVE COMPENSATION, THE FINANCE COMMITTEE SHALL BASE AND DOCUMENT ITS RECOMMENDATIONS ON THE FOLLOWING CRITERIA: MARKET DATA COMPARISONS; FUNCTIONAL REQUIREMENTS OF THE POSITION; CURRENT MARKET TRENDS; REGIONAL ECONOMIC INDICATORS; EDUCATION, CAREER BACKGROUND AND EXPERIENCE OF THE PERSON IN THE POSITION. THE FINANCE COMMITTEE MAY SEEK ADVICE AND COUNSEL FROM EXTERNAL, UNRELATED SOURCES, INCLUDING BUT NOT LIMITED TO: MANAGEMENT CONSULTANTS, EXECUTIVE RECRUITERS; NATIONAL AND STATE ORGANIZATIONS SUCH AS AAHSA AND NYAHSA; SALARY RESEARCH RESOURCES AND DATA BASES; AND OTHER SOURCES WHICH MAY PROVIDE ACCURATE, RELIABLE, VERIFIABLE WAGE DATA. COMPENSATION CONCERNING INCENTIVES AND BONUSES SHALL BE BASED ON QUANTITATIVE PERFORMANCE CRITERIA APPLIED TO THE ACHIEVEMENT OF PRE-ESTABLISHED GOALS. MERIT INCREASES SHALL BE MADE AT THE DISCRETION OF THE BOARD BASED ON PERFORMANCE IMPROVEMENT OVER A SPECIFIED PERIOD OF TIME. BENEFITS, INCLUDING HEALTH INSURANCE, LIFE INSURANCE, VACATION AND OTHER TIME OFF, SHALL BE PROPORTIONATE WITH THE BENEFITS POLICIES AND PACKAGE IN EFFECT FOR LEADERSHIP PERSONNEL AT PECONIC LANDING AT SOUTHOLD, INC. ON THE EFFECTIVE DATE OF BOARD APPROVAL OF THE TOTAL COMPENSATION PACKAGE. DOCUMENTATION CONCERNING EXECUTIVE COMPENSATION - ALL MATTERS PERTAINING TO EXECUTIVE COMPENSATION MUST BE IN WRITTEN FORM. THE COMPENSATION DETERMINATION PROCESS WAS LAST UNDERTAKEN IN 2017. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FORM 990 AND FORM 1023 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. THE RETURN IS POSTED ON GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, THE FINANCIAL STATEMENTS, ARTICLES OF INCORPORATION, FORM 990, FORM 1023, CONFLICT OF INTEREST POLICY, AND BY-LAWS ARE ALSO AVAILABLE UPON WRITTEN REQUEST OR BY CALLING THE ORGANIZATION DIRECTLY. FORM 990, PART X, LINE 15: IN 2017, THE CEO WAS PAID $110,000 IN A RETENTION BONUS PURSUANT TO HIS EMPLOYMENT AGREEMENT, EFFECTIVE JULY 1, 2017, WHICH WAS REPORTED ON HIS 2017 W-2. A RECEIVABLE WAS RECORDED FOR THE BALANCE OF THE BONUS THAT WAS DEEMED NOT EARNED AT THE END OF 2017. AFTER THE ISSUANCE OF THE AUDITED FINANCIAL STATEMENTS, THE AGREEMENT WAS SUBSEQUENTLY AMENDED AND RESULTS IN NO SUBSEQUENT AMOUNTS DUE, OVERSTATING THE ORGANIZATION'S RECEIVABLE. THEREFORE, THE RECEIVABLE IS BEING INCLUDED IN OTHER ASSETS IN PART X AND WILL BE RECORDED AS AN EXPENSE FOR THE YEAR ENDED DECEMBER 31, 2018. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS DID NOT CHANGE FROM THE PRIOR YEAR. BRECKNOCK HALL FOUNDATION 1500 BRECKNOCK ROAD GREENPORT NY 11944 200350364 FOR SUPPORT NY 501(C)(3) PF PECONIC LANDING AT SOUTHOLD INC 1 PECONIC LANDING HOME HEALTH SERVICES INC 1500 BRECKNOCK ROAD GREENPORT NY 11944 454566737 HOME HEALTH SERVICES NY 501(C)(3) LINE 10 PECONIC LANDING AT SOUTHOLD INC 1 THE SHORES AT PECONIC LANDING ASSISTED LIVING RESIDENCE 1500 BRECKNOCK ROAD GREENPORT NY 11944 454977274 ASSISTED LIVING NY 501(C)(3) LINE 10 PECONIC LANDING AT SOUTHOLD INC 1 PECONIC LANDING HOUSING ASSOCIATION CO-OP 1500 BRECKNOCK ROAD GREENPORT NY 11944 020575501 HOUSING ASSOCIATION NY PECONIC LANDING AT SOUTHOLD INC C 3388853 44762422 1.00000 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 1 1 1 0 1 PECONIC LANDING HOUSING ASSOCIATION CO-OP A 733725 COST THE SHORES AT PECONIC ASSISTED LIVING RESIDENCE INC S 2338858 COST PECONIC LANDING HOUSING ASSOCIATION CO-OP P 110300 COST FORM 990, SCHEDULE R, PART V, LINE 1A: PECONIC LANDING AT SOUTHOLD, INC. RECEIVED RENTAL INCOME, WHICH IS A SPECIFIED PAYMENT, FROM ITS CONTROLLED SUBSIDIARY. THESE PAYMENTS WERE MADE AT ARM'S LENGTH AND MEETS THE FAIR MARKET VALUE STANDARD. RELATED PARTY TRANSACTIONS: ON NOVEMBER 28, 2000, THE COMPANY AND THE COOPERATIVE ENTERED INTO A LEASE AGREEMENT RELATED TO THE INITIAL 250 INDEPENDENT LIVING UNITS. UNDER THE TERMS OF THE LEASE, THE COMPANY AGREED TO LEASE A PORTION OF ITS REAL PROPERTY TO THE COOPERATIVE. IN ADDITION, THE LEASE SPECIFIES THAT THE COMPANY AGREES TO CONSTRUCT AND FURNISH ON THE REAL PROPERTY CERTAIN BUILDINGS, IMPROVEMENTS AND FURNISHINGS AND TO TRANSFER TITLE TO THESE SPECIFIED RESIDENTIAL IMPROVEMENTS FOR AND IN CONSIDERATION OF ALL AUTHORIZED AND UN-ISSUED SHARES OF THE COOPERATIVE. PURSUANT TO THE TERMS OF THE EXECUTED LEASE, THE COMPANY OWNS THE LAND, THE COMMUNITY CENTER, AND THE HEALTH CARE CENTER AND THE COOPERATIVE OWNS THE SPECIFIED RESIDENTIAL IMPROVEMENTS. THE LEASE TERM IS 99 YEARS AND THE ANNUAL RENT FOR THE INITIAL TEN YEAR PERIOD OF THE LEASE IS COMPUTED ON THE BASIS OF $225 PER MONTH PER OCCUPIED RESIDENTIAL UNIT, NOT TO EXCEED AN ANNUAL RENT OF $675,000 IN ANY CALENDAR YEAR DURING THIS PERIOD. SUBSEQUENT TO THE INITIAL TEN YEAR PERIOD, THE COMPANY HAS THE OPTION TO ADJUST THE BASE RENT TO TEN PERCENT OF THE APPRAISED VALUE OF THE LAND. ON MARCH 15, 2015, THE COMPANY AND THE COOPERATIVE ENTERED INTO A SECOND LEASE AGREEMENT RELATED TO 46 ADDITIONAL INDEPENDENT UNITS ON A PORTION OF COMPANY'S LAND. THE LEASE TERM IS 99 YEARS AND IS TO BE AUTOMATICALLY EXTENDED FOR AN ADDITIONAL TERM OF 99 YEARS. THE ANNUAL RENT FOR THE INITIAL TEN YEAR PERIOD OF THE LEASE IS COMPUTED ON THE BASIS OF $225 PER MONTH PER OCCUPIED RESIDENTIAL UNIT. SUBSEQUENT TO THE INITIAL TEN YEAR PERIOD, THE COMPANY HAS THE OPTION TO ADJUST THE BASE RENT TO TEN PERCENT OF THE APPRAISED VALUE OF THE LAND. UNDER THE TERM OF THESE LEASES, THE COOPERATIVE WILL PAY PRO RATA SHARE OF ALL REAL PROPERTY TAXES AND SALES TAXES WITH RESPECT TO THE LEASED PREMISES, ASSESSMENTS, RATES, CHARGES AND OTHER COSTS OF OPERATION OF THE LEASED SPACE. THE COMPANY'S ONLY RESPONSIBILITY SHALL BE PAYMENT OF THE PRINCIPAL AND INTEREST OF THE MORTGAGE OF THE LEASED PREMISE. RENT PAYMENTS UNDER THESE LEASE AGREEMENTS FOR THE YEARS ENDED DECEMBER 31, 2017 AND 2016 WERE $733,725 AND $675,675. THESE LEASES PROVIDE THAT THE COOPERATIVE MUST USE THE PROPERTY ONLY FOR THE PURPOSE OF PROVIDING HOUSING TO MEMBERS WHO ENTER INTO CARE AGREEMENTS WITH THE COMPANY. THE COOPERATIVE DOES NOT HAVE THE RIGHT TO REMOVE THE RESIDENTIAL IMPROVEMENTS WITHOUT THE COMPANY'S PRIOR WRITTEN CONSENT. THESE LEASES MAY ONLY BE TERMINATED WITH THE APPROVAL OF THE NEW YORK STATE CONTINUING CARE RETIREMENT COMMUNITY COUNCIL, OR ITS SUCCESSOR STATE AGENCY. IN THE EVENT OF DEFAULT UNDER THE LEASE AGREEMENT, THE RESIDENTIAL IMPROVEMENTS VEST WITH THE COMPANY. LEASE AND SERVICES AGREEMENTS BETWEEN THE COMPANY AND THE SHORES IN AUGUST 2013 AND JUNE 2014, THE COMPANY ENTERED INTO A LEASE AGREEMENT AND A LICENSE AGREEMENT WITH THE SHORES WHEREBY THE COMPANY LEASED THE ASSISTED LIVING RESIDENCE PORTION OF ITS REAL PROPERTY TO THE SHORES AND LICENSED IT TO OPERATE THE ENRICHED HOUSING PROGRAM. PURSUANT TO EACH AGREEMENT, THE SHORES AGREED TO PAY THE COMPANY $1 ANNUALLY. ADDITIONALLY, UNDER THE LEASE AGREEMENT THE SHORES WILL PAY TO THE COMPANY ALL INCOME GENERATED FOR THE CARE OF RESIDENTS OF THE ENRICHED HOUSING PROGRAM AND ANY OTHER INCOME FROM ANY OTHER SOURCE. THE TERM OF EACH AGREEMENT IS 99 YEARS AND THEREAFTER CAN BE AUTOMATICALLY RENEWED FOR SUCCESSIVE TERMS OF 99 YEARS PROVIDED THE SHORES SHALL BE IN COMPLIANCE WITH TERMS AND CONDITIONS OF THE AGREEMENTS. IN CONJUNCTION WITH THE ABOVE AGREEMENTS, THE COMPANY ALSO ENTERED INTO A MANAGEMENT AND A MAINTENANCE AND SERVICES AGREEMENT WITH THE SHORES. PURSUANT TO THE TERMS OF THESE AGREEMENTS, THE COMPANY IS RESPONSIBLE TO PROVIDE OVERSIGHT, MANAGEMENT AND MAINTENANCE SERVICES TO ENSURE QUALITY OPERATION AND ADMINISTRATION OF THE ENRICHED HOUSING PROGRAM. THE TERM OF THE AGREEMENT IS FOR FIVE YEARS STARTING MAY, 2016 AND RENEWS EVERY FIVE YEARS UNTIL CANCELLED BY THE BOARDS OF THE COMPANY AND THE SHORES OR NYSDOH.