2017-02-06T11:29:56-06:00 2016-06-30 410746749 CLIFTONLARSONALLEN LLP 610 W GERMANTOWN PIKE STE 400 PLYMOUTH MEETING PA 19462 990 2015-07-01 521381348 ANNAPOLIS LIFE CARE INC ANNA 4102667300 4000 RIVER CRESCENT DRIVE ANNAPOLIS MD 21401 DR EDGAR MALLICK EXECUTIVE DIRECTOR 4102667300 2017-01-31 1 BERNADETTE O'TOOLE CPA P00229258 2156433900 2015 2021-01-29 14:40:06Z DR EDGAR MALLICK 4000 RIVER CRESCENT DRIVE ANNAPOLIS MD 21401 22190396 0 X WWW.GINGERCOVE.COM X 1988 MD TO OWN AND OPERATE A CONTINUING CARE COMMUNITY FOR PERSONS OVER THE AGE OF 60 15 15 355 50 -4293 -4293 502389 471067 19120162 19525216 2206160 1112440 256235 280263 22084946 21388986 0 0 0 0 11017941 11319627 0 0 0 13488755 13001289 24506696 24320916 -2421750 -2931930 102188848 98500038 148971166 154440207 -46782318 -55940169 OUR VISION - A PREMIER LIFE-CARE COMMUNITY COMMITTED TO QUALITY. OUR MISSION - TO PROVIDE RESIDENTS AN ABUNDANT LIFE. OUR VALUES - RESIDENT INDEPENDENCE, DIGNITY, SECURITY, STAFF EXCELLENCE, BUSINESS INTEGRITY, AND FISCAL PRUDENCE. 0 0 14043279 19525216 ANNAPOLIS LIFE CARE, INC OPERATES A LIFE-CARE COMMUNITY WHICH OFFERS THREE LEVELS OF CARE. THESE CONSIST OF INDEPENDENT LIVING, ASSISTED LIVING, AND NURSING.INDEPENDENT LIVING - THE ORGANIZATION PROVIDES HOUSING, HEALTH CARE, AND RECREATIONAL ACTIVITIES FOR SENIOR CITIZENS WHO ARE STILL ABLE TO MAINTAIN AN ACTIVE LIFESTYLE. THERE WERE 234 INDEPENDENT LIVING UNITS AVAILABLE WITH AN AVERAGE OCCUPANCY RATE OF 90.8%. 996244 ASSISTED LIVING - THIS PROGRAM IS FOR SENIOR CITIZENS WHO MAY NEED ADDITIONAL HELP TO MAINTAIN A HEALTHY LIFESTYLE BUT WHO DO NOT REQUIRE SKILLED NURSING. THE ORGANIZATION HAS A 30 UNIT AND 6 BED ASSISTED LIVING COMPLEX WHICH PROVIDED A TOTAL OF 13,194 LIFE CARE DAYS. 5507238 SKILLED NURSING - THE ORGANIZATION HAS A 55 BED COMPREHENSIVE CARE COMMUNITY HEALTH CENTER FOR RESIDENTS WHO REQUIRE A HIGH LEVEL OF SKILLED NURSING ASSISTANCE. TEMPORARY AND PERMANENT CARE DAYS TOTALED 17,766. 20546761 1 1 0 1 0 0 0 0 0 0 1 1 0 0 1 1 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 1 1 0 0 0 1 57 0 1 355 1 1 1 0 0 0 0 0 0 0 0 0 X 15 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MD X TIM ELLIOTT 4102667300 4000 RIVER CRESCENT DRIVE ANNAPOLIS MD 21401 THOMAS STEMMY DIRECTOR 2.00 X 0 0 0 KEN DRIESSEN DIRECTOR 2.00 X 0 0 0 MICHAEL MILLER SECRETARY 5.00 X X 0 0 0 GARY GEISEL DIRECTOR 2.00 X 0 0 0 CAROLYN GORSUCH DIRECTOR 2.00 X 0 0 0 ELLA BASSETT DIRECTOR 2.00 X 0 0 0 MARGARET JACKSON TREASURER 5.00 X X 0 0 0 JAMES E KOEHR DIRECTOR 2.00 X 0 0 0 ARLENE HALL DIRECTOR 2.00 X 0 0 0 HELEN STOUGH DIRECTOR 2.00 X 0 0 0 JEFFREY A NORRIS PRESIDENT 5.00 2.00 X X 0 0 0 JAMES REINIG VICE PRESIDENT 5.00 X X 0 0 0 ROBERT J PELRINE DIRECTOR 2.00 X 0 0 0 EDWARD MCDEVITT DIRECTOR 2.00 X 0 0 0 JOSEPH RUBINO DIRECTOR 2.00 X 0 0 0 DR EDGAR MALLICK EXECUTIVE DIRECTOR 40.00 X 281378 0 6772 TIMOTHY ELLIOTT CFO 40.00 X 169483 0 4419 WENDY UTZ ADMINISTRATOR 40.00 X 168444 0 1266 JOAN WILLIAMS DIRECTOR OF MARKETING 40.00 X 111785 0 9880 RAYLEEN BENNA DIRECTOR OF NURSING 40.00 X 125817 0 317 MAJID MAFI DIRECTOR OF PLANT OPERATIONS 40.00 X 109540 0 9619 MARY BETH HOLLY DIRECTOR OF FINANCIAL SERVICES 40.00 X 106448 0 684 JUDY BAZILLO RN 54.20 X 110119 0 11437 1183014 0 44394 9 0 1 0 SELECT REHABILITATION 2600 COMPASS ROAD GLENVIEW IL 60026 THERAPY SERVICES 1176418 US FOOD SERVICES PO BOX 7780 PHILADEPLHIA PA 19182 FOOD SUPPLIES 813096 RELIABLE PROFESSIONAL CONTRACTING 5205 HAWK CHANNEL DRIVE WEST RIVER MD 20778 CONSTRUCTION REHAB 384815 WEITZMAN INC 3 CHURCH CIRCLE ANNAPOLIS MD 21401 MARKETING SERVICES 336600 PAINTING AND CONTRACTING SOLUTIONS 1637 JOHN BROWN RD QUEENSTOWN MD 21658 CONSTRUCTION REHAB 283173 17 162206 308861 471067 RESIDENT SERVICE FEES 621610 13752714 13752714 HEALTH CENTER FEES 621610 4746402 4746402 ENTRANCE FEES EARNED 621610 946536 946536 HOME HEALTH REVENUE 621610 79564 79564 19525216 1145823 -4293 1150116 32316 892 31424 31424 31424 731948 765331 -33383 -33383 -33383 38179 35187 2992 2992 BEAUTY/BARBER SHOP 621610 124449 124449 GUEST MEALS 621610 74091 74091 CATERING INCOME 621610 47307 47307 245847 21388986 19525216 -4293 1396996 440567 440567 9169264 8222281 946983 110085 88067 22018 706250 616871 89379 893461 794272 99189 52460 52460 78756 78756 52369 52369 1333 1333 104729 104729 1841730 1603548 238182 391493 391493 2625104 2403098 222006 573327 573327 2480 1600 880 1969278 1969278 3315447 3315447 171685 171685 FOOD 1171717 1171717 MISC. 291324 55046 236278 MEDICAL SUPPLIES 253076 253076 BAD DEBT 104981 104981 24320916 20546761 3774155 0 800 800 2655172 1807690 1041874 1154663 1734488 1866147 102707 109007 270883 251240 91284951 40432446 52401910 50852505 34046842 29677477 7092938 10599773 2341958 2180736 499276 0 102188848 98500038 1420032 1448847 86865455 89008355 41547000 40538999 19138679 23444006 148971166 154440207 X -48409180 -57530198 1476712 1439879 150150 150150 -46782318 -55940169 102188848 98500038 X -2931930 -1781343 -4444578 X X 0 1 X 1 0 X 339683 383266 618466 502389 471067 2314871 18909540 20779596 20084945 20447297 19525216 99746594 270113 242884 220636 224254 245847 1203734 19519336 21405746 20924047 21173940 20242130 103265199 0 0 0 103265199 776504 1008205 937587 1186295 1287161 5195752 776504 1008205 937587 1186295 1287161 5195752 29373 29373 20325213 22413951 21861634 22360235 21529291 108490324 0.95180 0.95980 0.04790 0.03960 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 1409 1409 0 PART II-B, LINE 1: ANNAPOLIS LIFE CARE INC IS A MEMBER OF INDUSTRY GROUP LEADING AGE. THE ORGANIZATION PAID MEMBERSHIP DUES OF $14,086 OF WHICH 10% IS ASSUMED TO BE ALLOCATED TO LOBBYING EXPENSES. 3735917 3735917 79346987 35296879 44050108 7949122 5135567 2813555 252925 252925 50852505 TITAN MASTERS INTERNATIONAL FUND 1207142 F COLLINS CAPITAL LOW VOLATILITY PERFORMANCE 89724 F PINE GROVE ASSOCIATES 2664065 F WMS PARTNERS INCOME OPPORTUNITY FUND B 425499 F WMS PARTNERS FAIRMOUNT FUND 497758 F VALSTONE OPPORTUNITY INVESTMENTS III 61540 F VALSTONE OPPORTUNITY FUND IV 528181 F IRONSIDES PARTNERSHIP FUND II 1101571 F SUMMITT LIQUID EQUITY SURROGATE SERIES 4024293 F 10599773 DEPOSITS 2563596 INTEREST RATE SWAP 7354285 FUTURE SERVICE OBLIGATION 13525000 DUE FROM AFFILIATES 1125 23444006 X 15221434 -1781343 -4282372 -6063715 21285149 104729 -892 103837 21388986 24379285 163098 163098 24216187 104729 104729 24320916 PART X, LINE 2: THE CORPORATION IS A NOT-FOR-PROFIT ENTITY AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM INCOME TAXES ON RELATED ACTIVITIES PURSUANT TO SECTION 509(A) OF THE INTERNAL REVENUE CODE. THE CORPORATION FOLLOWS THE PROVISIONS OF ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN A COMPANY'S FINANCIAL STATEMENTS, INCLUDING NOT-FOR-PROFIT CORPORATIONS, AND PRESCRIBES A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD HAS BEEN MET. THE STANDARDS ALSO PROVIDE GUIDANCE ON DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, AND DISCLOSURE. MANAGEMENT HAS DETERMINED THAT THIS STANDARD DOES NOT HAVE A MATERIAL IMPACT ON THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN INTEREST IN SUBSIDIARY -134,456. CHANGE IN VALUE OF INTEREST RATE SWAP -2,485,916. CHANGE IN FUTURE SERVICE OBLIGATION -1,662,000. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSE - NETTED WITH REVENUE ON 990 -892. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE - NETTED WITH REVENUE ON 990 892. FORGIVENESS OF DEBT FROM RELATED PARTY 162,206. X X X 0 0 0 0 0 0 0 1 0 DR EDGAR MALLICK EXECUTIVE DIRECTOR 258878 0 22500 0 0 0 6772 0 0 0 288150 0 0 0 TIMOTHY ELLIOTT CFO 158787 0 10696 0 0 0 4419 0 0 0 173902 0 0 0 WENDY UTZ ADMINISTRATOR 160944 0 7500 0 0 0 1266 0 0 0 169710 0 0 0 PART I, LINE 7 THE EXECUTIVE DIRECTOR AND OTHER KEY EMPLOYEES ESTABLISH GOALS AND OBJECTIVES FOR THE UPCOMING YEAR. THESE GOALS AND OBJECTIVES ARE REVIEWED ANNUALLY AND THE ACCOMPLISHMENT OF THESE GOALS IS TAKEN INTO CONSIDERATION WHEN DETERMINING BONUSES. THE BONUS RANGE IS 3% TO 7% OF SALARY FOR DIRECTORS WITH A HIGHER RANGE FOR THE EXECUTIVE DIRECTOR. A MARYLAND HEALTH AND HIGHER EDUCATION FACILITIES AUTHORITY 520936091 2014-09-17 41950000 REFINANCING PRIOR BOND ISSUE 0 0 0 A 365000 41950000 416667 41533333 2014 1 0 1 1 A 0 1 1 1 0 0.00300 0.00300 1 0 1 A 0 1 0 0 1 0 0 0 1 A 1 FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE SHALL BE FULLY AUTHORIZED TO CARRY OUT ALL POWERS OF THE BOARD OF DIRECTORS BETWEEN MEETINGS OF THE BOARD, PROVIDED THEIR ACTIONS AND DECISIONS COULD NOT REASONABLY HAVE BEEN DEFERRED UNTIL THE NEXT MEETING OF THE BOARD. ACTIONS OF THE EXECUTIVE COMMITTEE SHALL BE REPORTED TO THE NEXT REGULAR OR SPECIAL MEETING OF THE BOARD OF DIRECTORS. ACTIONS OF THE EXECUTIVE COMMITTEE WHICH ARE WITHIN THE AUTHORITY OF THE EXECUTIVE COMMITTEE SHALL NOT REQUIRE RATIFICATION BY THE BOARD OF DIRECTORS, BUT ANY ACTIONS OF THE EXECUTIVE COMMITTEE MAY BE MODIFIED AT A MEETING OF THE BOARD OF DIRECTORS BY VOTE OF A MAJORITY OF THE MEMBERS OF THE BOARD OF DIRECTORS PRESENT AND CONSTITUTING AT LEAST A QUORUM. HOWEVER, ANY SUCH MODIFICATIONS SHALL NOT AFFECT THE RIGHTS OF ANY THIRD PERSONS. FORM 990, PART VI, SECTION B, LINE 11 AN ALC BOARD FINANCE COMMITTEE MEMBER, THE CHIEF FINANCIAL OFFICER, AND THE EXECUTIVE DIRECTOR PERFORM AN INITIAL REVIEW OF THE FORM 990. THE FORM 990 IS THEN FORWARDED TO THE FINANCE AND AUDIT COMMITTEE FOR ACCEPTANCE AND THEN DISTRIBUTED AND ACCEPTED BY ALL BOARD MEMBERS PRIOR TO SUBMISSION TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ANNAPOLIS LIFE CARE HAS A CONFLICT OF INTEREST POLICY FOR ALL BOARD MEMBERS, OF WHICH THE CONFLICT OF INTEREST STATEMENT IS UPDATED ANNUALLY. THIS POLICY ALSO APPLIES TO ADVISORY MEMBERS OF BOARD COMMITTEES. ANY ACTUAL OR POTENTIAL CONFLICTS ARE EXPECTED TO BE DISCLOSED. THE PRESIDENT AND SECRETARY OF THE BOARD AND ALL CHAIRMEN OF STANDING BOARD COMMITTEES WILL RECEIVE ALL ANNUAL CONFLICT OF INTEREST STATEMENTS. IF AN ACTUAL OR POTENTIAL CONFLICT WERE TO EXIST, THE INTERESTED PARTY WOULD ABSTAIN FROM ALL DISCUSSIONS AND DECISIONS ON THE CONFLICT. ANY TRANSACTIONS OR EVENTS THAT VIOLATE THE CONFLICT OF INTEREST POLICY MAY ALSO BE REVIEWED BY LEGAL COUNSEL. FAMILY AND BUSINESS RELATIONSHIPS WHICH MAY POSE A CONFLICT ARE EXPRESSLY CONSIDERED IN THE POLICY AND THE ANNUAL STATEMENT. FORM 990, PART VI, SECTION B, LINE 15 A THREE MEMBER COMMITTEE FROM THE ANNAPOLIS LIFE CARE BOARD OF DIRECTORS COMPILES RESULTS OF PERFORMANCE EVALUATIONS COMPLETED BY EACH BOARD MEMBER, REVIEWS THE CURRENT COMPENSATION STRUCTURE FOR THE EXECUTIVE DIRECTOR, REVIEWS INDUSTRY SALARY SURVEY DATA FOR THE REGION AND NATIONALLY, AND MAKES RECOMMENDATIONS TO BOTH THE EXECUTIVE COMMITTEE AND THE FULL BOARD OF DIRECTORS. THIS PROCESS IS COMPLETED ANNUALLY. OTHER KEY EMPLOYEES ARE REVIEWED BY THE EXECUTIVE DIRECTOR ANNUALLY ON A VARIETY OF STRATEGIC MEASURES. INCREASES AND/OR BONUSES ARE DETERMINED BASED ON THE RESULTS OF THE ANNUAL REVIEW. ALL COMPENSATION ADJUSTMENTS ARE MEASURED AGAINST INDUSTRY STANDARDS TO ENSURE COMPENSATION IS SET WITHIN FAIR MARKET RANGE FOR THE INDUSTRY. FORM 990, PART VI, SECTION C, LINE 19 THE BYLAWS AND FINANCIAL STATEMENTS ARE LOCATED IN THE GINGER COVE LIBRARY FOR PUBLIC REVIEW AND THE CONFLICT OF INTEREST POLICY IS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: UNREALIZED GAIN OR LOSS ON DERIVATIVES -2,485,916. CHANGE IN INTEREST OF SUBSIDIARY -134,456. CHANGE IN FUTURE SERVICE OBLIGATION -1,662,000. FORGIVENESS OF DEBT FROM RELATED PARTY -162,206. FORM 990, PAGE 12, PART XII, LINE 2C THIS PROCESS HAS NOT CHANGED FROM PRIOR YEARS. GINGER COVE HOME HEALTH CARE LLC 4000 RIVER CRESCENT DRIVE ANNAPOLIS MD 21401 521381348 HOME HEALTH CARE SERVICES MD 79564 0 ANNAPOLIS LIFE CARE INC GINGER COVE FOUNDATION INC 4000 RIVER CRESCENT DRIVE ANNAPOLIS MD 21401 113656031 TO SUPPORT AFFILIATED ORGANIZATIONS MD 501(C)(3) LINE 11C, III-FI ANNAPOLIS LIFE CARE INC 1 0 1 1 0 0 0 0 0 0 0 0 0 1 1 1 1 1 0 0 GINGER COVE HOME HEALTH CARE LLC P 107526 COST GINGER COVE FOUNDATION INC C 324412 COST