2017-12-15T12:11:18-06:00 2017-09-30 560817345 Turlington and Company LLP PO Box 1697 Lexington NC 272931697 990 2016-10-01 560754599 Friends Homes Inc FRIE 3362928187 925 New Garden Road Greensboro NC 27410 Floyd Chambless Dickey Controller 3362928187 2017-12-08 1 Marcia W Henriksen P01259831 3362496856 66.57.15.218 2017-12-08 08:11:42 ES P 8B575F216D66A564586C4355EBB89D308CCD299C 8B575F216D66A564586C4355EBB89D308CCD299C 2016 2018-03-14 21:41:22Z Floyd Chambless Dickey 925 New Garden Road Greensboro NC 27410 34083401 0 X friendshomes.org X 1958 NC To establish and operate continuing care retirement communities in accordance with the principles of the Religious Society of Friends. These principles require that our communities provide, at a reasonable cost, an environment which fosters independence and a sense of wholeness, health, and security so that each resident may realize his or her full potential. In doing so we facilitate the basic Quaker principle that "there is God in every person," meaning that everyone has worth and value. Through continuous improvement and expansion, the organization will provide affordable services to the aged and support to the community at large. We accept the responsibility to promote consistent quality care while providing a home for our residents. 21 21 611 75 0 0 330720 161419 26160208 26666868 2938558 1765564 0 0 29429486 28593851 0 0 0 0 14726684 14060633 0 0 0 12169486 13330959 26896170 27391592 2533316 1202259 83780545 88390724 48285175 47985493 35495370 40405231 To provide nursing and residential care and other support services to the elderly. 0 0 24480587 26666868 There are 10 cottages, 358 apartments, 100 assisted care beds and 109 nursing beds. 24480587 1 1 0 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 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 145 0 611 0 0 0 0 0 0 0 0 0 X 21 21 0 1 0 0 0 0 0 1 1 0 0 1 1 0 1 1 1 1 0 0 X Cham Dickey 3362928187 925 New Garden Road Greensboro NC 27410 X Tom Wright Board member 0.25 X 0 0 0 Terri Harris Chairman 0.25 X X 0 0 0 Carl Semmler Vice Chair 0.25 X X 0 0 0 Carolyn McPherson Secretary 0.25 X X 0 0 0 Dan Allen Treasurer 0.25 X X 0 0 0 Kathy Kellum Board member 0.25 X 0 0 0 Patrick Miller Board member 0.25 X 0 0 0 Don Farlow Board member 0.25 X 0 0 0 Mark Farlow Board member 0.25 X 0 0 0 Jenny Ross Board member 0.25 X 0 0 0 Beth Joyce Board member 0.25 X 0 0 0 Jennifer Schaal Board member 0.25 X 0 0 0 Wilson Sheldon Jr Former CEO 40.00 X 209801 0 0 209801 0 0 1 1 1 0 Legacy Health Care Services PO BOX 743715 Atlanta GA 30384 Therapy services 684756 PHI Management Services LLC 2109 Sandy Ridge Road Colfax NC 27235 Management services 655453 2 161419 161419 Resident services 623000 26666868 26666868 26666868 1084105 1084105 6171009 5417747 71803 753262 -71803 681459 681459 28593851 26666868 0 1765564 X 11764817 10618943 1145874 281208 216533 64675 1187654 1045136 142518 826954 751344 75610 12306 12306 63520 63520 113998 113998 910217 800991 109226 2256168 2143360 112808 Food Costs 1585141 1585141 Repairs & maintenance 1400615 1399693 922 Utilities 1325714 1270695 55019 Charitable care 1009855 1009855 4653425 3524898 1128527 27391592 24480587 2911005 0 2719732 3433637 1354766 1074435 223623 199457 39581 116452 83750545 38494924 45059491 45255621 34034317 38053486 349035 257636 83780545 88390724 2042791 2071393 12215972 14087363 31790000 30420000 1451109 1137500 785303 269237 48285175 47985493 X 35087956 39972750 342414 367481 65000 65000 35495370 40405231 83780545 88390724 X 1202259 3220952 486650 X 0 1 X 1 0 X 960047 357364 191344 330720 161419 2000894 23510093 24807761 25762378 26160208 26666868 126907308 24470140 25165125 25953722 26490928 26828287 128908202 0 0 0 128908202 537298 687632 914208 983297 1084105 4206540 537298 687632 914208 983297 1084105 4206540 25007438 25852757 26867930 27474225 27912392 133114742 0.96840 0.97250 0.03160 0.02750 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5361900 5361900 62086404 30932918 31153486 10057207 3035971 7021236 6245034 4526035 1718999 45255621 Occupancy deposits 174200 Prepaid rent 6337 Interest rate swap 88700 269237 X 32301453 3220952 486650 3707602 28593851 0 28593851 27391592 0 27391592 0 27391592 Part X, Line 2: The Organization has determined that it has no uncertain income tax positions as of September 30, 2017 and 2016. Also, the Organization does not anticipate any increase or decrease in unrecognized tax benefits during the next twelve months that would result in a material change in its financial position. The Organization's income tax returns for years ended after September 30, 2014 remain open for examination. Part XI, Line 2d - Other Adjustments: Unrealized loss on interest rate swap 486,650. X 1 1 X 0 0 0 0 0 0 0 0 0 Wilson Sheldon Jr Former CEO 209801 0 0 0 0 0 0 0 0 0 209801 0 0 0 A North Carolina Medical Care Commission 521309402 657902M41 2011-11-01 37745000 Refunding prior bond issue dated 10/16/03 0 0 0 A 7325000 37745000 1 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 0 1 1 Branch Bank & Trust 7.000000000000 0 0 0 0 0 A 0 Form 990, Part VI, Section A, line 3 The Board has contracted with PHI Management Services, LLC to provide executive level management and advisory services for the period May 1, 2016 to December 31, 2018. Form 990, Part VI, Section B, line 11b The 990 is reviewed by the Executive Committee and provided to the full Board prior to filing. Form 990, Part VI, Section B, line 12c The organization has relied on the integrity of the board members to monitor their independence. Beginning with the 2018 tax year, board members will be asked to annually sign a conflict of interest statement and will be asked to disclose any interests which may give rise to conflicts. Form 990, Part VI, Section B, line 15a The CEO's compensation is set by the compensation committee of the board who are independent. Form 990, Part VI, Section C, line 19 The Organization is regulated by the Insurance Commission and the financial statements are part of the Disclosure required by them. Form 990, Part IX, line 24e Management fees: Program service expenses 491,883. Management and general expenses 491,882. Fundraising expenses 0. Total expenses 983,765. Contract Medical Services: Program service expenses 755,773. Management and general expenses 0. Fundraising expenses 0. Total expenses 755,773. Miscellaneous: Program service expenses 335,975. Management and general expenses 263,138. Fundraising expenses 0. Total expenses 599,113. Supplies: Program service expenses 560,504. Management and general expenses 0. Fundraising expenses 0. Total expenses 560,504. Contractual dietary: Program service expenses 501,506. Management and general expenses 0. Fundraising expenses 0. Total expenses 501,506. Prescription drugs, etc.: Program service expenses 432,073. Management and general expenses 0. Fundraising expenses 0. Total expenses 432,073. Insurance: Program service expenses 289,276. Management and general expenses 129,923. Fundraising expenses 0. Total expenses 419,199. Office expenses: Program service expenses 92,940. Management and general expenses 213,771. Fundraising expenses 0. Total expenses 306,711. Property Taxes: Program service expenses 45,114. Management and general expenses 0. Fundraising expenses 0. Total expenses 45,114. Dues and Subscriptions: Program service expenses 4,727. Management and general expenses 29,813. Fundraising expenses 0. Total expenses 34,540. Amortization of bond issue costs: Program service expenses 15,127. Management and general expenses 0. Fundraising expenses 0. Total expenses 15,127. Form 990, Part XI, line 9: Unrealized gain/loss on interest rate swap 486,650.