2017-11-13T15:53:19-06:00 2016-12-31 410746749 CLIFTONLARSONALLEN LLP 1966 GREENSPRING DRIVE SUITE 300 TIMONIUM MD 210934161 990 2016-01-01 520607932 PRESBYTERIAN HOME OF MARYLAND INC PRES 4108234622 400 GEORGIA COURT TOWSON MD 21204 ERIK STULLER CFO 4108234622 2017-11-13 1 JOHN NORMAN P01506766 4104530900 2017-11-13 67.137.57.251 2017-11-13 13:40:23 ES P 54D5E4BA1470F8C36BA6B05316F79CBB30854ABE 9B4A218F08BDB15373927065D2DC7A02376AC715 2016 2017-02-10 21:41:12Z CARSINS RUN AT EVA MAR SUSAN F SHEA 400 GEORGIA COURT TOWSON MD 21204 17361261 0 X WWW.CARSINSRUN.ORG X 1883 MD THE PRESBYTERIAN HOME OF MARYLAND, INC, PROVIDES RETIREMENT LIVING AND HEALTH CARE SERVICES. 12 8 80 20 0 0 69699 45633 4779886 2275626 1182961 3085910 23505 31508 6056051 5438677 0 0 0 0 4129222 2762300 0 0 169 2299491 2040413 6428713 4802713 -372662 635964 48676440 47971694 10170858 10342774 38505582 37628920 X THE PRESBYTERIAN HOME OF MARYLAND, INC, IS A NONPROFIT 501(C)(3) ORGANIZATION LOCATED IN TOWSON, MARYLAND. THE HOME PROVIDES RETIREMENT LIVING AND HEALTH CARE THROUGH THE CONTINUUM OF LIFE, DEDICATED TO SUPERB SERVICE WITH THE VALUES OF DIGNITY, TRUST AND INDEPENDENCE. 0 1 2811991 2275626 PRIOR TO AUGUST, 2016, THE ORGANIZATION OPERATED A CONTINUING CARE RETIREMENT COMMUNITY LOCATED IN TOWSON, MARYLAND. THE TOWSON FACILITY WAS LICENSED FOR 78 ASSISTED LIVING UNITS AND 22 COMPREHENSIVE CARE UNITS, WHICH PROVIDED SUPERIOR QUALITY CARE FOR 65 RESIDENTS DURING 2016 BY PROVIDING THE FOLLOWING PROGRAM SERVICES. HISTORY: ON JANUARY 24, 1884, THE PRESBYTERIAN HOME OF BALTIMORE, AS IT WAS KNOWN, FIRST OPENED ITS DOORS ON CALVERT STREET IN DOWNTOWN BALTIMORE. IN 1920 THE NAME OF THE RESIDENCE WAS CHANGED TO THE PRESBYTERIAN HOME OF MARYLAND, AND IN 1929, THE ORGANIZATION MOVED TO THE OFFUTT ESTATE, A LARGE AND GRACIOUS HOME IN TOWSON, MARYLAND. OVER THE COURSE OF TIME, NUMEROUS CHANGES HAD BEEN MADE TO THE ORIGINAL DWELLING WHICH SITS ON FOUR ACRES AMIDST MATURE TREES, FLOWERING SHRUBS AND BEAUTIFULLY LANDSCAPED GROUNDS. THE CONSTRUCTION OF ADDITIONAL WINGS ALLOWED THE ORGANIZATION TO EXPAND ITS POPULATION AND THE ADDITION OF A WELLNESS AREA, INCLUDING AN ACTIVITY CENTER AND PHYSICIAN'S SUITE, ALLOWED THE ORGANIZATION TO PROVIDE UP-TO-DATE ACCOMMODATIONS AND SERVICES. RESIDENTS ENJOYED A WALKING PATH THAT MEANDERED BESIDE A LOW STONE WALL ON THE EDGE OF THE PROPERTY, AND THE SITTING PORCHES THAT GRACE THE FACADE OF THE BUILDING. THE CHARMING OUTDOOR SURROUNDINGS WERE A COMPLIMENT TO THE MANY WELCOMING AND COMFORTABLE AREAS WITHIN THE BUILDING ITSELF. IN ADDITION, THE SURROUNDING NEIGHBORHOOD OFFERED RESIDENTS A VAST ARRAY OF SOCIAL, CULTURAL, EDUCATIONAL AND RECREATIONAL OPPORTUNITIES. OVER THE YEARS, THE ORGANIZATION HAD GROWN FROM AN INSTITUTION SERVING THE NEEDS OF PRESBYTERIAN CHURCH MEMBERS TO AN ORGANIZATION THAT WELCOMED RESIDENTS OF ALL FAITHS AND DENOMINATIONS. THE ORGANIZATION REMAINS TRUE TO ITS MISSION OF PROVIDING SUPERIOR QUALITY SERVICES IN A CARING AND RESPECTFUL MANNER, ENCOURAGING EACH RESIDENT TO ENJOY HIS/HER LIFE TO THE FULLEST EXTENT POSSIBLE. THE SERVICES THE ORGANIZATION OFFERED ITS RESIDENTS WERE VAST. THE SERVICES WERE DESIGNED TO PROVIDE THE FINEST QUALITY OF CARE AS WELL AS THE FINEST QUALITY OF LIFE POSSIBLE. THESE SERVICES INCLUDED: NURSING, MEDICAL CARE, HOUSEKEEPING AND MAINTENANCE, DIETARY SERVICE AND ACTIVITIES. IN ADDITION, ALL SERVICE PROVIDERS ADHERED TO OUR POLICY OF RESPECT FOR THE DIGNITY OF EACH RESIDENT. NURSING SERVICES: OVER THE LAST 132 YEARS, THE ORGANIZATION HAS BUILT A DISTINCTIVE REPUTATION FOR PROVIDING SUPERB NURSING CARE AND MAINTAINING ONE OF THE HIGHEST STAFF TO RESIDENT RATIOS IN THE AREA. UNDER THE SUPERVISION OF THE DIRECTOR OF NURSING, THE ORGANIZATION HAD LICENSED STAFF ON SITE 24 HOURS A DAY, 7 DAYS A WEEK. THE NURSING STAFF WAS REQUIRED TO PARTICIPATE IN REGULAR CLINICAL TRAINING THROUGH IN-SERVICE CLASSES AS WELL AS QUALIFIED CLASSES OFFSITE. THIS ENSURED THAT THE MEDICAL PERSONNEL WERE KEPT ABREAST OF THE LATEST DEVELOPMENTS IN THE FIELD OF GERIATRIC CARE AND TREATMENT. EVERY PART OF THE TOWSON FACILITY WAS DESIGNED TO FEEL LIKE HOME. THE ORGANIZATION WAS COMMITTED TO OFFERING THE MOST INDEPENDENT LIFESTYLE WHILE TAILORING THE RESIDENTS' CARE PLANS TO MEET INDIVIDUAL NEEDS. TO DETERMINE THE LEVEL OF CARE, THE CLINICAL TEAM ASSESSED EACH PROSPECTIVE RESIDENT'S ABILITY TO PERFORM ACTIVITIES OF DAILY LIVING. ACTIVITIES OF DAILY LIVING INCLUDE BATHING, DRESSING, MEDICATION ADMINISTRATION, MOBILITY, TOILETING, DINING AND COGNITION, A COMPREHENSIVE CARE PLAN WAS IMPLEMENTED TO ENSURE THE SAFETY AND COMFORT OF RESIDENTS. THE CARE PLAN TOOK INTO CONSIDERATION THE GENERAL PHYSICAL, MENTAL AND PSYCHO-SOCIAL SITUATION OF THE RESIDENT. MEMBERS OF THE CARE TEAM ADDRESSED MEDICAL AND NURSING CARE, THERAPIES, MEALS AND FOOD SERVICE, ACTIVITIES AND EMOTIONAL NEEDS. THE ORGANIZATION OFFERED THREE LEVELS OF ASSISTED LIVING AND A HEALTH CARE CENTER. THE RESIDENTS WERE ABLE TO REMAIN IN THE FACILITY AS THEIR NEED FOR MORE DAILY ASSISTANCE INCREASED. FOR THOSE RESIDENTS WHO MAY HAVE BECOME TERMINALLY ILL, THE ORGANIZATION WORKED WITH SEVERAL PREFERRED HOSPICE PROVIDERS. THESE PROVIDERS WORKED IN TANDEM WITH THE ORGANIZATION'S MEDICAL STAFF TO HELP FOSTER COMFORT, SELF-RESPECT AND TRANQUILITY FOR THE RESIDENT AND THE FAMILY. THE ORGANIZATION RECOGNIZED THE NEED FOR SHORT-TERM, TEMPORARY RELIEF FOR THOSE CARING FOR ELDERLY FAMILY MEMBERS WHO MIGHT OTHERWISE REQUIRE PERMANENT PLACEMENT IN A COMMUNITY OUTSIDE OF THEIR HOME. THE ORGANIZATION'S RESPITE CARE SERVICES WERE DESIGNED TO PROVIDE THE SAME HIGH STANDARD OF CARE THAT OUR PERMANENT RESIDENTS ENJOYED, ONLY ON A PLANNED, TEMPORARY BASIS. MEDICAL SERVICES: THE ORGANIZATION HAD A MEDICAL DIRECTOR AND AN ASSISTANT MEDICAL DIRECTOR. THESE PHYSICIANS WERE AVAILABLE ON SITE WEEKLY AND WERE AVAILABLE AS THE NEEDS OF RESIDENTS AROSE. THE MEDICAL DIRECTOR PROVIDED SUPERVISION AND DIRECTION TO THE NURSING SERVICES DEPARTMENT. RESIDENTS WERE FREE TO CHOOSE THEIR PHYSICIANS, AND REFERRALS WERE MADE TO SPECIALISTS WHENEVER NECESSARY. SPECIALIZED CARE WAS PROVIDED AT THE FACILITY ON A REGULAR BASIS BY THE FOLLOWING: PODIATRISTS, SPEECH THERAPISTS, PHYSICAL THERAPISTS, PHARMACISTS, OCCUPATIONAL THERAPISTS, GERIATRIC PSYCHIATRISTS, AND EXERCISE/FITNESS INSTRUCTORS. TWO OF MARYLAND'S FINEST HOSPITALS, GREATER BALTIMORE MEDICAL CENTER AND UNIVERSITY OF MARYLAND ST JOSEPH MEDICAL CENTER, WERE LESS THAN A 5 MINUTE RIDE FROM THE FACILITY. HOUSEKEEPING AND MAINTENANCE SERVICES:MAKING SURE THE FACILITY WAS NEAT AND CLEAN WAS JUST ONE FUNCTION OF THIS IMPORTANT DEPARTMENT'S ROLE TO THE OVERALL HARMONY OF THE FACILITY. SERVICES INCLUDED PERSONAL LAUNDRY, FACILITY LINEN, TRASH REMOVAL, AND MAINTENANCE. DIETARY SERVICES:PROPER NUTRITION AS WELL AS A PLEASING PRESENTATION PLAYED AN IMPORTANT ROLE IN THE GOOD HEALTH OF ALL SENIORS UNDER THE SUPERVISION OF THE DIRECTOR OF HOSPITALITY. ALL THREE DAILY MEALS WERE CAREFULLY PREPARED BY THE DIETARY TEAM. A REGISTERED DIETITIAN ALSO PROVIDED CONSULTATION AND SUPPORT TO THE FOOD SERVICE DEPARTMENT. MEALS WERE SERVED IN TWO ATTRACTIVE DINING ROOMS WHERE RESIDENTS COULD ENJOY SMALL GROUPS OF FRIENDS. RESIDENTS HAD THEIR CHOICE OF ENTREE AT THE DINNER MEAL, AND THE FACILITY ALWAYS OFFERED A SUBSTITUTE ENTREE. FOR THOSE RESIDENTS WHO CHOSE NOT TO ATTEND THE MAIN DINING ROOM FOR THE BREAKFAST MEAL, THEY COULD ENJOY A CONTINENTAL BREAKFAST INCLUDING JUICES, CEREAL AND FRESH FRUITS. THE CONTINENTAL BREAKFAST WAS CONVENIENTLY LOCATED EACH MORNING IN OUR SPACIOUS KITCHENETTES LOCATED ON EACH WING OF THE FACILITY. LIFESTYLE AND WELLNESS:THE ORGANIZATION OFFERED MANY VARIED ACTIVITIES ON A DAILY BASIS TO MEET THE NEEDS OF ALL OF THE RESIDENTS. MANY OF THE RESIDENTS CHOSE TO ENGAGE IN MORE INDEPENDENT ACTIVITIES SUCH AS IN-HOUSE COLLEGE CLASSES, READING, SOCIALIZING WITH FRIENDS, OR ATTENDING THE LOCAL SENIOR CENTER LOCATED ONLY A FEW BLOCKS FROM THE FACILITY. OTHERS CHOSE TO FILL THEIR DAYS WITH AN ASSORTMENT OF ACTIVITIES INCLUDING CRAFTS AND ENTERTAINMENT. THE ORGANIZATION OFFERED SEVERAL WEEKLY SOCIALS INCLUDING THE VERY POPULAR WINE & CHEESE SOCIAL AND ICE CREAM SOCIAL. ALL ACTIVITIES WERE PLANNED, IMPLEMENTED AND SUPERVISED BY A CERTIFIED RECREATION THERAPIST. THE ORGANIZATION HOSTED SEVERAL EVENTS THROUGHOUT THE YEAR FOR RESIDENTS, VOLUNTEERS, FAMILIES AND STAFF. THESE SPECIAL EVENTS OFFERED A CHANCE FOR RESIDENTS AND GUESTS TO GATHER FOR SOCIALIZATION AND TO TAKE PART IN PARTIES, FUNDRAISERS AND SPECIAL OCCASIONS. SOME OF THE EVENTS THAT WERE HOSTED EACH YEAR INCLUDED THE ANNUAL RESIDENT SHRIMP FEAST, THE ANNUAL CRAB FEAST, THE FRIENDS & FAMILY SUPPER, AND SEVERAL HOLIDAY EVENTS. 2811991 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 29 0 1 80 1 0 0 0 0 0 0 0 0 0 0 X 12 8 0 0 1 0 0 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 MD X ERIK STULLER 4108234622 400 GEORGIA COURT TOWSON MD 21204 JOSEPH SLOVICK CHAIRMAN OF THE BOARD 1.00 X X 0 0 0 J THOMAS HYDE VICE CHAIRMAN 0.10 X X 0 0 0 BETTY PEARCE SECRETARY 0.10 X X 0 0 0 KAREN HOFFMAN TREASURER 1.00 X X 0 0 0 SUSAN F SHEA PRESIDENT & CEO 40.00 X X 178501 0 15676 ERIK STULLER CFO 40.00 X X 164217 0 1441 JOSEPH SNEE JR BOARD MEMBER 1.00 X 62820 0 0 RIC BRYANT BOARD MEMBER 0.10 X 0 0 0 CAROL LIENHARD BOARD MEMBER 0.10 X 0 0 0 KENNETH M GREENE BOARD MEMBER 8.00 X 24000 0 0 PATTI DRESHER BOARD MEMBER 0.10 X 0 0 0 JAMES HARKINS BOARD MEMBER 0.10 X 0 0 0 429538 0 17117 2 0 1 0 THW DESIGN 2100 RIVEREDGE PKWY STE 900 ATLANTA GA 30328 ARCHITECTURAL SERVICES 673880 MACKENZIE COMMERCIAL REAL ESTATE SERVICE 2328 WEST JOPPA RD STE 200 LUTHERVILLE MD 21093 REAL ESTATE SERVICES 175000 BROWN ADVISORY 901 SOUTH BOND STREET SUITE 400 BALTIMORE MD 21234 INVESTMENT MGMT 115660 3 45633 45633 MONTHLY FEES 623000 2271156 2271156 OTHER RESIDENT FEES 623000 4470 4470 2275626 424414 424414 3067 3067 28441 0 28441 28441 28441 14571887 12193 11922584 0 2649303 12193 2661496 2661496 5438677 2275626 0 3117418 379188 40618 338570 1956730 1439184 517546 228822 166049 62773 197560 127517 70043 26547 26547 33761 33761 148133 148133 208479 126905 81574 187065 187065 120822 7022 113631 169 25075 6508 18567 196386 196386 20028 1068 18960 23685 2638 21047 388738 388738 201164 176300 24864 107385 44593 62792 MEDICAL SUPPLIES 134081 134081 FOOD & DINING 125456 125456 RESIDENT ACTIVITIES & A 27235 27235 HOUSEKEEPING & CLEANING 14059 14059 52314 372758 -320444 4802713 2811991 1990553 169 276054 135970 1522985 1559590 17664 1515 92750 64023 11482785 169117 12213180 11313668 27418982 24771300 7134825 10125628 48676440 47971694 1178399 588966 8916459 8950059 76000 803749 10170858 10342774 X 37060001 36181208 524540 526671 921041 921041 38505582 37628920 48676440 47971694 X 635964 -1033015 -479611 X X 0 1 X 1 0 X 92191 69654 97316 69699 45633 374493 4429371 4678732 4664296 4779886 2275626 20827911 4521562 4748386 4761612 4849585 2321259 21202404 12638 11228 5538 9424 4683 43511 1021272 1023559 1228926 1332289 721029 5327075 1033910 1034787 1234464 1341713 725712 5370586 15831818 741109 679189 659406 631847 455922 3167473 741109 679189 659406 631847 455922 3167473 5262671 5427575 5421018 5481432 2777181 24369877 0.64960 0.66230 0.13000 0.13170 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 4802713 4802713 390136 97534 0 0 401241 481047 471531 390136 1743955 2615933 109 1912 2021 100310 120262 117883 97534 435989 653984 109 1912 2021 1426635 3450 111313 102424 11562 1427412 1419926 13153 6444 1426635 1482117 17316 41852 115213 6146 1419926 1369790 3752 211840 97722 5543 1482117 1280907 26080 160143 91755 5585 1369790 0.64530 0.35470 0 0 8719669 8719669 285741 285741 266736 169117 97619 2210639 2210639 11313668 ACCRUED INVESTMENT INCOME 43680 ASSETS AVAILABLE FOR SALE 8767268 BENEFICIAL INTEREST IN REMAINDER TRUSTS 20300 OTHER ASSETS LONG TERM 27929 OTHER ASSETS CURRENT 2791 DEFERRED COSTS 485733 DEPOSITS 777927 10125628 REFUNDABLE ENTRANCE FEE LIABILITY 26000 DEPOSIT LIABILITY 777749 803749 X 3926051 -1033015 -479611 -1512626 5438677 0 5438677 4802713 0 4802713 0 4802713 PART V, LINE 4: TO PROVIDE SUPPORT TO PROGRAMS OFFERED. PART X, LINE 2: THE ORGANIZATION FOLLOWS THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ORGANIZATION'S CONSOLIDATED FINANCIAL STATEMENTS IN ACCORDANCE WITH THE INCOME TAX STANDARD. THIS STANDARD PRESCRIBES RECOGNITION AND MEASUREMENT OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. THE APPLICATION OF THIS STANDARD HAD NO IMPACT ON THE ORGANIZATION'S CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015. PART XI, LINE 2D - OTHER ADJUSTMENTS: LOSS ON DISCONTINUANCE OF ABERDEEN DEVELOPMENT -131,250. LOSS ON IMPAIRMENT OF ASSETS HELD FOR SALE -349,715. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 1,354. X X X X X 0 0 0 0 0 0 0 0 0 SUSAN F SHEA PRESIDENT & CEO 173660 0 1033 0 3808 0 0 0 15676 0 194177 0 0 0 ERIK STULLER CFO 163001 0 940 0 276 0 0 0 1441 0 165658 0 0 0 FORM 990, PART III, LINE 3 IN 2001 THE ORGANIZATION REALIZED THE NEED TO RELOCATE OPERATIONS TO A NEW FACILITY. THE FACILITY LOCATED IN TOWSON, BALTIMORE COUNTY, MARYLAND, WAS BECOMING OBSOLETE AND DIFFICULT TO MARKET TO A NEW AGING GENERATION. THE TOWSON FACILITY, LOCATED ON FOUR ACRES IN A RESIDENTIAL NEIGHBORHOOD, FACED VARIOUS ZONING RESTRICTIONS WHICH SIGNIFICANTLY DIMINISHED ANY POSSIBILITY FOR RENOVATION ON THE SITE. DURING THE PERIOD BETWEEN 2001 AND 2016 THE ORGANIZATION EXPERIENCED A SUBSTANTIAL DECREASE IN AVERAGE RESIDENT CENSUS AND MOUNTING ANNUAL OPERATING LOSSES. IN 2004 THE ORGANIZATION ACQUIRED 138 ACRES OF LAND IN ABERDEEN, HARFORD COUNTY, MARYLAND, FOR THE PURPOSE OF CONSTRUCTING A CONTINUING CARE RETIREMENT COMMUNITY TO BE KNOWN AS THE VILLAGE AT CARSINS RUN. DUE TO VARIOUS FINANCIAL ISSUES, THE PROJECT AS PLANNED WAS DEEMED UNFEASIBLE AND THE PROJECT WAS ABANDONED IN 2011. THE PROPERTY IS AVAILABLE FOR SALE. IN 2015 THE ORGANIZATION ACQUIRED 47 ACRES OF LAND LOCATED IN BEL AIR, HARFORD COUNTY, MARYLAND, FOR THE PURPOSE OF CONSTRUCTING A CONTINUING CARE RETIREMENT COMMUNITY TO BE KNOWN AS CARSINS RUN AT EVA MAR ("THE PROJECT") AND PLANS TO OPERATE THE PROJECT. THE FIRST PHASE OF THE PROJECT IS PLANNED TO BE COMPRISED OF 180 INDEPENDENT LIVING UNITS, 24 ASSISTED LIVING UNITS, 12 MEMORY CARE UNITS AND 12 COMPREHENSIVE CARE UNITS. IN APRIL 2016, THE MARYLAND DEPARTMENT OF AGING APPROVED THE FEASIBILITY STUDY FOR THE PROJECT WHICH ALLOWS FOR THE INITIAL MARKETING AND ACCEPTANCE OF DEPOSITS FROM PROSPECTIVE RESIDENTS. IT IS ANTICIPATED THAT THE FINANCING THRESHOLD FOR THE NUMBER OF REQUIRED PROSPECTIVE RESIDENT DEPOSITS WILL BE MET IN 2019, ALLOWING FOR THE ACQUISITION OF FINANCING AND THE BEGINNING OF CONSTRUCTION OF THE PROJECT. THE PROJECT IS EXPECTED TO BE COMPLETED AND OPEN FOR OCCUPANCY IN EARLY 2021. IN APRIL 2016, THE BOARD APPROVED THE CESSATION OF RESIDENT CARE OPERATIONS AT THE TOWSON FACILITY AND AUTHORIZED MANAGEMENT TO MAKE THE PUBLIC ANNOUNCEMENT ON MAY 2, 2016 OF THE FACILITY CLOSURE BY NOVEMBER, 2016. THE BOARD ALSO AUTHORIZED MANAGEMENT TO LIST THE TOWSON FACILITY AS AVAILABLE FOR SALE AFTER THE ANNOUNCEMENT. THE ORDERLY CLOSING OF THE TOWSON FACILITY AND OPERATIONS WAS COMPLETED IN AUGUST 2016. AS OF DECEMBER 31, 2016, THE FACILITY WAS BEING USED FOR PURPOSES OF THE ORGANIZATION'S MANAGEMENT OFFICES ONLY. THE CLOSING OF THE TOWSON FACILITY WAS DEEMED NECESSARY IN ORDER TO RETAIN FINANCIAL RESOURCES NECESSARY TO DEVELOP THE PROJECT. IN JULY, 2016 THE BOARD ESTABLISHED A BENEVOLENCE FUND FOR THE PURPOSE OF SUPPORTING THE FUTURE RESIDENTS OF THE PROJECT WHO MIGHT RUN OUT OF FUNDS. THE BENEVOLENCE FUND WAS INITIALLY FUNDED THROUGH THE PROCEEDS FROM THE SALE OF FURNITURE AND EQUIPMENT OF THE TOWSON FACILITY. FUNDRAISING EFFORTS FOR THIS PURPOSE ARE EXPECTED TO CONTINUE THROUGHOUT THE MARKETING AND CONSTRUCTION PERIOD OF THE PROJECT. FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE CONSISTS OF ACTIVE BOARD MEMBERS AND ACTS ON BEHALF OF THE GOVERNING BOARD OCCASIONALLY WHEN DELEGATED TO DO SO BY THE GOVERNING BOARD. FORM 990, PART VI, SECTION A, LINE 4 THE PRESBYTERIAN HOME OF MARYLAND, INC.'S BYLAWS WERE AMENDED IN MAY 2016. CHANGES TO THE BYLAWS INCLUDE REVISIONS TO THE TERMS OF INDIVIDUALS SERVING ON THE BOARD OF DIRECTORS AND UPDATED CHECK SIGNING AUTHORITY. FORM 990, PART VI, SECTION A, LINE 7A MARYLAND LAW REQUIRES THAT A RESIDENT OF THE FACILITY, ELECTED BY THE RESIDENT POPULATION, SERVE AS A MEMER OF THE BOARD. THE BOARD IS SELF PERPETUATING. ALL NEW MEMBERS HAVE THE SAME RIGHTS AS EXISTING MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B DECISIONS MAY REQUIRE THE APPROVAL OF THE MARYLAND DEPARTMENT OF AGING AS A MATTER OF LAW. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY THE CFO AND THE TREASURER. A COPY IS PROVIDED TO THE ENTIRE GOVERNING BODY PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION MONITORS THIS ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 THE PERSONNEL COMMITTEE RECOMMENDS THE ANNUAL SALARY AMOUNT OF THE CEO AND CFO TO THE BOARD OF DIRECTORS ANNUALLY. PUBLISHED INDUSTRY COMPENSATION GUIDES ARE USED AS A GUIDE BY THE COMMITTEE. THE REVIEW TAKES PLACE ANNUALLY, AND THE INFORMATION IS PRESENTED BY THE COMMITTEE TO THE BOARD OF DIRECTORS IN DECEMBER FOR APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, THE CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE ALL AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 1,354. LOSS ON IMPAIRMENT OF ASSETS -349,715. LOSS ON DISCONTINUANCE OF ABERDEEN DEVELOPMENT -131,250. FORM 990, PART XI, LINE 2C THERE HAS BEEN NO CHANGE IN OVERSIGHT PROCESS FROM THE PRIOR YEAR. MARYLAND HOME & SERVICES FOR THE AGING INC 400 EAST GEORGIA COURT TOWSON MD 21204 352225877 HOLDING COMPANY MD PRESBYTERIAN HOME OF MARYLAND INC C 1.00000 1 MARYLAND HOME & SERVICES FOR THE AGING FOUNDATION 400 EAST GEORGIA COURT TOWSON MD 21204 260079952 SUPPORTING FOUNDATION MD PRESBYTERIAN HOME OF MARYLAND INC C 1.00000 1 THE VILLAGE AT CARSINS RUN INC 400 EAST GEORGIA COURT TOWSON MD 21204 364549749 PLANNED CCRC MD MARYLAND HOME & SERVICES FOR THE AGING C 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0