2017-10-23T08:44:15-05:00 2017-06-30 593070669 MOORE STEPHENS LOVELACE PA 255 S ORANGE AVENUE SUITE 600 ORLANDO FL 32801 990 2016-07-01 590624420 PENNEY RETIREMENT COMMUNITY INC PENN 9042848200 PO BOX 555 PENNEY FARMS FL 320790555 TERESA SCOTT PRESIDENT 9042848200 2017-10-23 1 KURT A ALTER CPA P00059492 4077405400 64.132.121.122 2017-10-23 09:33:57 ED P A6970DBB2853E0D2E5FB43C562937A4824D79D77 A6970DBB2853E0D2E5FB43C562937A4824D79D77 2016 2021-01-29 14:40:06Z TERESA SCOTT PO BOX 555 PENNEY FARMS FL 320790555 13587112 0 X WWW.PENNEYRETIREMENTCOMMUNITY.ORG X 1965 FL PENNEY RETIREMENT COMMUNITY SERVES SENIORS WHO DESIRE TO LIVE THE FINAL THIRD OF THEIR LIVES IN A CHRISTIAN ENVIRONMENT. PROGRAMS AND SERVICES, INCLUDING HEALTH CARE, ARE PROVIDED TO ENHANCE DAILY LIVING AND DIMINISH FEARS OF THE FUTURE. 18 18 233 323 0 0 540671 1064564 11600081 12117395 10703 287434 39777 117719 12191232 13587112 0 0 0 0 6283509 6469346 0 0 0 5956656 6138093 12240165 12607439 -48933 979673 39841902 42372104 26610535 27821335 13231367 14550769 PENNEY IS AN INCLUSIVE CHRISTIAN CONTINUING CARE RETIREMENT COMMUNITY SEEKING THE ABUNDANT LIFE THROUGH SOCIAL INTERACTION AND SERVICE. 0 0 10811805 12213135 THE ORGANIZATION PROVIDES HOUSING, HEALTH CARE AND OTHER RELATED SERVICES THROUGH THE OPERATION OF A RETIREMENT COMMUNITY. THE COMMUNITY INCLUDES 287 APARTMENTS AND HOMES, A 20-BED ALZHEIMER'S HEALTHCARE CENTER, 55 INDEPENDENT LIVING UNITS OFFERING ASSISTIVE SERVICES AND A LICENSED SKILLED NURSING CENTER WITH A CAPACITY OF 40 RESIDENTS. THE COMMUNITY ALSO INCLUDES RECREATIONAL AMENITIES, INCLUDING A NINE-HOLE GOLF COURSE, INDOOR SWIMMING POOL, FITNESS CENTER, ART STUDIO, CRAFT FACILITIES, LIBRARIES AND DINING FACILITIES. 10811805 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 1 97 0 1 233 1 0 0 0 0 0 0 0 0 0 0 X 18 18 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X TERESA SCOTT 9042848200 PO BOX 555 PENNEY FARMS FL 32079 FRANCES L IRVINE DIRECTOR/CHAIRMAN 2.00 X X 0 0 0 VERNON K SMITH PHD DIRECTOR/FIRST VICE CHAIR 2.00 X X 0 0 0 ALISON E HICKMAN DIRECTOR/SECOND VICE CHAIR 2.00 X X 0 0 0 JAMES A CHESTER DIRECTOR/TREASURER 2.00 X X 0 0 0 CATHERINE G PARROTT DIRECTOR/SECRETARY 2.00 X X 0 0 0 KARL LACHLER DIRECTOR 2.00 X 0 0 0 PEARL G BOLES DIRECTOR 2.00 X 0 0 0 WILLIAM COURTNEY DIRECTOR 2.00 X 0 0 0 DARIN C ROARK DIRECTOR 2.00 X 0 0 0 EVELYN HILLMAN DIRECTOR 2.00 X 0 0 0 DAVID A MCINNES MD DIRECTOR 2.00 X 0 0 0 SUSAN PONDER-STANSEL DIRECTOR 2.00 X 0 0 0 DR WILLIAM L PROCTOR DIRECTOR 2.00 X 0 0 0 DAVID J QUIRK DIRECTOR 2.00 X 0 0 0 JAMES RENNINGER DIRECTOR 2.00 X 0 0 0 BERT VAN ROYAL DIRECTOR 2.00 X 0 0 0 LINDA E SABIN DIRECTOR 2.00 X 0 0 0 WARREN W STEVENSON DIRECTOR 2.00 X 0 0 0 WILLIAM K WATERSON DIRECTOR 2.00 X 0 0 0 GEORGE D WEST DIRECTOR 2.00 X 0 0 0 TERESA SCOTT PRESIDENT/CHIEF EXECUTIVE OFFCIER 40.00 X 155376 0 13310 WILLIAM D FISH CHIEF FINANCIAL OFFICER 40.00 X 104020 0 14826 259396 0 28136 2 0 1 0 WARREN W STEVENSON PO BOX 1178 STARKE FL 32091 CONSTRUCTION CONTRACTOR 759675 JAMES DEAN MASONRY INC 3750 CR 315-A GREEN COVE SPRINGS FL 32043 CONSTRUCTION/RENOVATION 289917 CHANEY'S HOME IMPROVEMENT 116 N ORANGE AVE GREEN COVE SPRINGS FL 32043 CONSTRUCTION/RENOVATION 216018 3 1064564 1064564 HOUSING 623000 5624128 5624128 NURSING 623000 5310646 5310646 RESIDENTS SERVICE 623000 604084 604084 FOOD SERVICE 623000 578537 578537 12117395 211736 211736 75698 0 75698 75698 75698 OTHER INCOME 623000 117719 117719 117719 13587112 12235114 0 287434 287532 287532 4786627 4020164 766463 149907 149907 852778 787620 65158 392502 341988 50514 66816 66816 509067 428753 80314 72915 72915 95880 63090 32790 1614530 1445199 169331 1946 1946 293515 293515 2037616 1974602 63014 234791 202810 31981 FOOD 542481 541657 824 SUPPLIES 231012 231012 PHARMACY 172723 172723 MISCELLANEOUS 169939 104071 65868 94862 54694 40168 12607439 10811805 1795634 0 586471 670045 2705 372 1467491 1345547 111896 119095 26226 19483 53977773 27311375 25541080 26666398 12089761 13551164 16272 0 39841902 42372104 867747 767204 19458757 21176299 3485000 3216864 2799031 2660968 26610535 27821335 X 10649845 11858843 1220233 1215572 1361289 1476354 13231367 14550769 39841902 42372104 979673 357627 -17899 0 X X 0 1 X 1 0 X 436247 682671 1597661 540671 961357 4218607 10559207 11185505 11437652 11600081 12117395 56899840 10995454 11868176 13035313 12140752 13078752 61118447 0 853447 763545 432534 915400 413876 3378802 853447 763545 432534 915400 413876 3378802 57739645 145936 166171 168108 179330 211736 871281 145936 166171 168108 179330 211736 871281 42406 46983 52377 39777 95740 277283 11183796 12081330 13255798 12359859 13386228 62267011 0.92730 0.92670 0.01400 0.01420 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1361189 115165 1476354 1262325 98864 1361189 1278025 -15700 1262325 1142119 135906 1278025 1084710 57409 1142119 1.00000 0 0 1634462 1634462 46532192 23865109 22667083 4167924 3058309 1109615 1643195 387957 1255238 26666398 CASH AND CASH EQUIVALENTS 2932752 F U.S. GOVERNMENT AND AGENCY OBLIGATIONS 2499608 F DEBT SECURITIES 653057 F MUTUAL FUNDS - EQUITY SECURITIES 4271287 F MUTUAL FUNDS - DEBT SECURITIES 2681701 F BOND FUNDS 512759 F 13551164 DEPOSITS 274400 REFUNDABLE ENTRANCE FEES 226491 CHARITABLE ANNUITY OBLIGATION 274599 ACCRUED GIFT BONDS 1885478 2660968 13520584 443853 443853 13076731 510381 510381 13587112 12195346 0 12195346 412093 412093 12607439 PART V, LINE 4: THE COMMUNITY'S SPENDING POLICY OBJECTIVE IS TO PROTECT THE VALUE AND GROW THE ENDOWMENT FUNDS TO PROVIDE FUTURE CASH FLOWS FOR OPERATONS, GIFT BOND REDEMPTIONS AND OTHER STIPULATED PURPOSES. PART XI, LINE 4B - OTHER ADJUSTMENTS: RESIDENTS AID FUND OF PRC, LLC - TOTAL REVENUE 214,862. ASSOCIATION OF PRC RESIDENTS, LLC - TOTAL REVENUE 295,519. PART XII, LINE 4B - OTHER ADJUSTMENTS: RESIDENTS AID FUND OF PRC, LLC - TOTAL EXPENSES 112,946. ASSOCIATION OF PRC RESIDENTS, LLC - TOTAL EXPENSES 299,147. X X X 0 0 0 0 0 0 0 0 0 TERESA SCOTT PRESIDENT/CHIEF EXECUTIVE OFFCIER 155376 0 0 0 0 0 7864 0 5446 0 168686 0 0 0 WARREN W STEVENSON PRC DIRECTOR 759675 NEW HOME CONSTRUCTION AND COTTAGE RENOVATIONS 0 FORM 990, PART VI, SECTION B, LINE 11B PER PRC POLICY, THE BOARD CHAIRMAN WILL REVIEW THE ENTIRE FORM 990 WITH ALL BOARD MEMBERS BEFORE IT IS FILED WITH THE IRS. THE CHAIRMAN WILL CONFIRM IN WRITING THAT THE 990 WAS REVIEWED. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ARE REQUIRED TO AFFIRM ANNUALLY IN WRITING THAT THEY ARE NOT AWARE OF ANY CONFLICTS OF INTEREST WITHIN THE ORGANIZATION. EMPLOYEES SIGN THAT THEY HAVE READ THE POLICY UPON HIRE. THE POLICY IS REVIEWED PERIODICALLY. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION'S COMPENSATION POLICY REQUIRES THE PRESIDENT'S COMPENSATION BE DETERMINED BY THE DIRECTORS USING COMPARABILITY DATA GATHERED FROM OTHER RETIREMENT COMMUNITIES. ALL DIRECTORS ARE INDEPENDENT WITH REGARD TO THE COMPENSATION AND THE DELIBERATION AND DECISION ARE DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE AT THE CORPORATE OFFICE UPON REQUEST. FORM 990, PART XII, LINE 2C OVERSIGHT OF THE AUDIT: THE ORGANIZATION'S AUDIT COMMITTEE IS RESPONSIBLE FOR THE SELECTION, MONITORING AND EVALUATION OF AN INDEPENDENT AUDIT FIRM AND OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS. THERE WAS NO CHANGE IN THIS PROCESS FROM THE PRIOR YEAR. ASSOCIATION OF PENNEY RETIREMENT COMMUNITY RESIDENTS LLC PO BOX 555 PENNEY FARMS FL 32079 273142533 SUPPORT THE RESIDENTS OF PENNEY RETIREMENT COMMUNITY FL 295519 268842 PENNEY RETIREMENT COMMUNITY RESIDENTS' AID FUND OF PENNEY RETIREMENT COMMUNITY LLC PO BOX 555 PENNEY FARMS FL 32079 273456236 SUPPORT THE RESIDENTS OF PENNEY RETIREMENT COMMUNITY FL 214862 436542 PENNEY RETIREMENT COMMUNITY