2017-10-31T14:51:24-05:00 2016-12-31 410746749 CLIFTONLARSONALLEN LLP 610 W GERMANTOWN PIKE STE 400 PLYMOUTH MEETING PA 19462 990 2016-01-01 222535376 WAKE ROBIN CORPORATION WAKE 8022645109 200 WAKE ROBIN DRIVE SHELBURNE VT 05482 FRED ERDMAN CFO 8022645109 2017-10-26 1 BERNADETTE O'TOOLE CPA P00229258 2156433900 67.137.57.251 2017-10-26 09:46:10 ED P 6204EFE5850DAA8AFBA3764BB98E8DF02B364695 BFDB7CD4CE10E37F5587DC6B509BFD3B13EB5B83 2016 2018-03-14 21:41:22Z FRED ERDMAN 200 WAKE ROBIN DRIVE SHELBURNE VT 05482 26206173 0 X WWW.WAKEROBIN.COM X 1984 VT CREATE AN ACTIVE COMMUNITY OF ADULTS THAT HONORS BOTH MUTUAL SUPPORT AND INDEPENDENCE AND ADDRESSES THE HEALTH AND WELLNESS NEEDS OF EACH RESIDENT 11 11 272 13 0 0 66898 50103 20176202 22163397 436819 265770 24978 0 20704897 22479270 0 0 0 0 8464990 9381426 0 0 0 11311263 11780031 19776253 21161457 928644 1317813 75395825 75860398 104205517 103080747 -28809692 -27220349 TO CREATE AN ACTIVE COMMUNITY OF ADULTS THAT HONORS BOTH MUTUAL SUPPORT AND INDEPENDENCE AND ADDRESSES THE HEALTH AND WELLNESS NEEDS OF EACH RESIDENT 0 0 19564569 0 22163397 WAKE ROBIN CORPORATION IS A CONTINUING RETIREMENT COMMUNITY THAT PROVIDES AND PROMOTES INDEPENDENT RESIDENTIAL LIVING FOR THE ELDERLY, WITH RESIDENTIAL CARE AND SKILLED NURSING ON CAMPUS. THE COMMUNITY CONSISTS OF 212 INDEPENDENT LIVING UNITS, A COMMUNITY CENTER, A HEALTH CENTER CONSISTING OF 31 RESIDENTIAL CARE UNITS, AND 51 NURSING CARE UNITS. THE COMMUNITY PROVIDES RESIDENTS WITH A LIVING UNIT, USE OF THE HEALTH CENTER AND OTHER FACILITIES AND SERVICES FOR THE RESIDENTS. 19564569 1 1 0 0 0 0 0 0 1 1 1 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 18 0 272 1 0 0 0 0 0 0 1 6 0 0 0 X 11 11 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 BOARD CHAIR 1.00 X X 0 0 0 ERIC HANSON BOARD VICE-CHAIR 1.00 X X 0 0 0 JANICE GALLANT BOARD MEMBER 1.00 X 0 0 0 DAVID HALLAM BOARD MEMBER 1.00 X 0 0 0 ROSALYNN GRAHAM BOARD MEMBER 1.00 X 0 0 0 CHRISTINE DUNBAR BOARD MEMBER 1.00 X 0 0 0 ALLYSON LAACKMAN BOARD MEMBER 1.00 X 0 0 0 BOB DUNCAN BOARD MEMBER 1.00 X 0 0 0 MARC TISCHLER BOARD MEMBER 1.00 X 0 0 0 SALLY CONRAD BOARD MEMBER 1.00 X 0 0 0 KATIE LAMPTON BOARD MEMBER 1.00 X 0 0 0 SCOTTIE GINN BOARD MEMBER THROUGH 8/16 1.00 X 0 0 0 LUCY COMSTOCK-GAY BOARD MEMBER THROUGH 8/16 1.00 X 0 0 0 PATRICK MCKEE CEO 40.00 X 182473 0 26400 FRED ERDMAN CFO 40.00 X 154512 0 9400 KATHY KING DIRECTOR OF DINING SERVICE 40.00 X 105345 0 0 LINDA PHYPERS DIRECTOR OF HEALTH CENTER 40.00 X 138223 0 0 NANCY CHIQUOINE DIRECTOR OF MARKETING 40.00 X 102974 0 0 ANNE LEVESQUE DIRECTOR OF HUMAN RESOURCE 40.00 X 114371 0 0 797898 0 35800 6 0 1 0 PERKINS EASTMAN ARCHITECTS 115 FIFTH AVE 3RD FLOOR NEW YORK NY 10003 ARCHITECTURAL DESIGN WORK 914504 MOUNTAIN AIR SYSTEMS 430 COMMERCE STREET SUITE 220 WILLISTON VT 05495 HVAC INSTALLATIONS 339644 NETWORK PERFORMANCE INC 85 GREEN MOUNTAIN DRIVE S BURLINGTON VT 05403 IT CONSULTING 291426 GREENBRIER DEVELOPMENT 3232 MCKINNEY AVE SUTIE 1160 DALLAS TX 75204 EXPANSION DEVELOPMENT CONSULTING 190294 WINDOWS AND DOORS BY BROWNELL 800 MARSHALL AVE SUITE 50 WILLISTON VT 05495 WINDOW REPLACEMENTS 130938 12 50103 50103 RESIDENT SERVICE FEES 623000 12213930 12213930 AMORTIZATION OF ENTRANCE FEE 623000 4773003 4773003 HEALTH CARE REVENUE 623000 3426647 3426647 TERMINATION FEES 623000 1305203 1305203 ANCILARY REVENUE 900099 444614 444614 22163397 306275 306275 3686398 3726903 -40505 -40505 -40505 22479270 22163397 0 265770 336985 336985 6901799 6355432 546367 1662259 1611153 51106 480383 465614 14769 17930 17930 38000 38000 258744 258744 1615006 1319557 295449 1017269 1017269 2091385 2078478 12907 3959525 3936239 23286 217815 216470 1345 MAINTENANCE 943260 943260 NURSING/THERAPY/ ANCILA 769299 769299 DINING 664054 664054 187744 187744 21161457 19564569 1596888 0 1700 1700 4987267 1935133 189845 314250 92426 95765 312695 202759 99854322 45621807 54524687 54232515 9635404 11187902 5651801 7890374 75395825 75860398 1131413 1243398 47481314 48190645 53495186 52087899 1094300 802850 1003304 755955 104205517 103080747 X -31726739 -30136191 2781046 2775381 136001 140461 -28809692 -27220349 75395825 75860398 X 1317813 135232 136298 X 0 1 X 1 0 X 626281 89492 91074 66898 50103 923848 18722788 19122336 18829555 20176202 22163397 99014278 19349069 19211828 18920629 20243100 22213500 99938126 603092 55000 10000 35398 500 703990 0 603092 55000 10000 35398 500 703990 99234136 497051 263336 415047 436819 306275 1918528 497051 263336 415047 436819 306275 1918528 368853 326460 253535 24978 973826 20214973 19801624 19589211 20704897 22519775 102830480 0.96500 0.95880 0.01870 0.02340 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 489589 500 27573 2303 515359 457382 32002 2379 2174 489589 435916 8061 16227 2822 457382 353535 5000 79605 2224 435916 315910 3910 35040 1325 353535 0.00000 0.00000 1.00000 0 0 2133946 2133946 78662092 34722250 43939842 4716529 3501884 1214645 14341755 7397673 6944082 54232515 ASSETS LIMITED AS TO USE 3476759 F OTHER INVESTMENTS 4413615 F 7890374 REFUNDABLE ENTRANCE FEES 579500 ANNUITY OBLIGATIONS 32957 DERIVATIVE FINANCIAL INSTRUMENT 143498 755955 22750799 135232 136298 271530 22479269 0 22479269 21161457 0 21161457 0 21161457 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: ENDOWMENT FUNDS PRIMARILY USED FOR BENEVOLENCE. THE MISSION OF THE CORPORATION IS TO CREATE AN ACTIVE COMMUNITY OF ADULTS THAT HONORS BOTH MUTUAL SUPPORT AND INDEPENDENCE AND ADDRESSES THE HEALTH AND WELLNESS NEEDS OF EACH RESIDENT. THE CORPORATION PROVIDES FINANCIAL ASSISTANCE ON AN AS NEEDED BASIS THROUGH THE WAKE ROBIN RESIDENTS' ASSISTANCE FUND. THE FUND WAS INITIALLY FUNDED BY THE CORPORATION WITH THE MAJORITY OF SUBSEQUENT FUNDING FROM RESIDENTS OR THEIR ESTATES. THE WAKE ROBIN RESIDENTS' ASSISTANCE FUND IS ADMINISTERED BY A COMMITTEE COMPRISED OF THREE STAFF OF THE CORPORATION AND TWO RESIDENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN FAIR VALUE OF DERIVATIVE INSTRUMENT 142,041. CHANGE IN FAIR VALUE OF GIFT ANNUITY -5,743. X X 0 0 0 0 0 0 0 0 0 PATRICK MCKEE CEO 172473 0 10000 0 0 0 0 0 26400 0 208873 0 0 0 FRED ERDMAN CFO 152512 0 2000 0 0 0 0 0 9400 0 163912 0 0 0 A VERMONT ECONOMIC DEVELOPMENT AUTHORITY 036024497 92415TAJ1 2006-07-13 16339806 TO ADVANCE REFUND THE WAKE ROBIN MORTGAGE REVENUE BONDS SERIES 1999B BONDS 0 0 0 B 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 C VERMONT ECONOMIC DEVELOPMENT AUTHORITY 036024497 2014-12-11 19955000 DEFEASE THE WAKE ROBIN MORTGAGE REVENUE BONDS SERIES 2006A 0 0 0 A 1989806 14350000 653355 324951 112403 9401349 5847748 2007 0 1 1 1 B 3800526 20210000 356779 23653748 2012 0 1 1 1 C 1335000 18620000 367004 19587996 0 1 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 A 0 0 0 1 1 0 0 0 1 B 0 1 0 0 0 0 0 0 1 C 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: VERMONT ECONOMIC DEVELOPMENT AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 03/20/2012 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 AAHSA). 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 2016. 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 2016. 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 142,041. CHANGE IN FAIR VALUE OF GIFT ANNUITY -5,743. WAKE ROBIN MANAGEMENT LLC 200 WAKE ROBIN DRIVE SHELBURNE VT 05482 453189950 MANAGEMENT SERVICES TO SENIOR LIVING FACILITY VT 0 194171 WAKE ROBIN CORPORATION