2016-11-02T09:18:41-05:00 2016-06-30 593070669 MOORE STEPHENS LOVELACE PA 255 S ORANGE AVENUE SUITE 600 ORLANDO FL 32801 990 2015-07-01 590624420 PENNEY RETIREMENT COMMUNITY INC PENN 9042848200 PO BOX 555 PENNEY FARMS FL 320790555 TERESA SCOTT PRESIDENT 9042848200 2016-11-02 1 MICHAEL D MEADE JD LLM P01079860 4077405400 2015 2017-02-10 21:41:12Z TERESA SCOTT PO BOX 555 PENNEY FARMS FL 320790555 12359859 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 18 264 279 0 0 1597661 540671 11437652 11600081 368557 10703 52377 39777 13456247 12191232 0 0 0 0 6072068 6283509 0 0 0 5749416 5956656 11821484 12240165 1634763 -48933 38993823 39841902 25987270 26610535 13006553 13231367 PENNEY RETIREMENT COMMUNITY IS AN INCLUSIVE CHRISTIAN COMMUNITY SEEKING THE ABUNDANT LIFE IN RETIREMENT LIVING. 0 0 10709391 11639858 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. 10709391 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 1 105 0 1 264 1 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 WALTER I JACOBY 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 MARGARET DODDS 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 KIPP GORDOW DIRECTOR 2.00 X 0 0 0 E RUSS MCGONEGAL DIRECTOR 2.00 X 0 0 0 JERRY WILLIAMS DIRECTOR 2.00 X 0 0 0 DARIN C ROARK DIRECTOR 2.00 X 0 0 0 WILLIAM D FISH CHIEF FINANCIAL OFFICER 40.00 X 105322 0 14257 TERESA SCOTT PRESIDENT 40.00 X 155901 0 10468 261223 0 24725 2 0 1 0 JAMES DEAN MASONRY INC 3750 CR 315-A GREEN COVE SPRINGS FL 32043 CONSTRUCTION/RENOVATION 187909 CHANEY'S HOME IMPROVEMENT 116 N ORANGE AVE GREEN COVE SPRINGS FL 32043 CONSTRUCTION/RENOVATION 148395 2 540671 540671 NURSING 623000 5344744 5344744 HOUSING 623000 5150801 5150801 FOOD SERVICE 623000 566631 566631 RESIDENTS SERVICE 623000 537905 537905 11600081 179330 179330 168627 -168627 -168627 -168627 OTHER INCOME 623000 39777 39777 39777 12191232 11639858 0 10703 285948 285948 4704349 4167985 536364 164565 162947 1618 747812 686306 61506 380835 331789 49046 61343 61343 484963 415601 69362 90815 90815 78157 50010 28147 1583770 1414929 168841 3052 3052 329480 329480 1932721 1871151 61570 220071 206195 13876 FOOD 527352 526608 744 SUPPLIES 254968 254968 PHARMACY 183307 183307 MISCELLANEOUS 129459 62595 66864 77198 45520 31678 12240165 10709391 1530774 0 494886 586471 1125 2705 1060944 1467491 116087 111896 26226 51605724 26064644 25486271 25541080 11810101 12089761 24409 16272 38993823 39841902 954205 867747 18304670 19458757 3730000 3485000 2998395 2799031 25987270 26610535 X 10553101 10649845 1191127 1220233 1262325 1361289 13006553 13231367 38993823 39841902 -48933 273747 0 X X 0 1 X 1 0 X 423362 436247 682671 1597661 540671 3680612 9683534 10559207 11185505 11437652 11600081 54465979 10106896 10995454 11868176 13035313 12140752 58146591 0 306801 853447 763545 432534 915400 3271727 306801 853447 763545 432534 915400 3271727 54874864 179905 145936 166171 168108 179330 839450 179905 145936 166171 168108 179330 839450 45458 42406 46983 52377 39777 227001 10332259 11183796 12081330 13255798 12359859 59213042 0.92670 0.93600 0.01420 0.01490 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1262325 98864 1361189 1278025 -15700 1262325 1142119 135906 1278025 1084710 57409 1142119 1111681 -26971 1084710 1.00000 0 0 1634462 1634462 43993533 22550064 21443469 4401748 3161646 1240102 1575981 352934 1223047 25541080 CASH AND CASH EQUIVALENTS 2423606 F U.S. GOVERNMENT AND AGENCY OBLIGATIONS 2214105 F DEBT SECURITIES 588573 F MUTUAL FUNDS - EQUITY SECURITIES 3887460 F MUTUAL FUNDS - DEBT SECURITIES 2575093 F BOND FUNDS 400924 F 12089761 DEPOSITS 239900 REFUNDABLE ENTRANCE FEES 219619 CHARITABLE ANNUITY OBLIGATION 347533 ACCRUED GIFT BONDS 1991979 2799031 11951668 133457 133457 11818211 373021 373021 12191232 11895616 0 11895616 344549 344549 12240165 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 134,095. ASSOCIATION OF PRC RESIDENTS, LLC - TOTAL REVENUE 238,926. PART XII, LINE 4B - OTHER ADJUSTMENTS: RESIDENTS AID FUND OF PRC, LLC - TOTAL EXPENSES 107,102. ASSOCIATION OF PRC RESIDENTS, LLC - TOTAL EXPENSES 237,447. X X X 0 0 0 0 0 0 0 0 0 TERESA SCOTT PRESIDENT 155901 0 0 0 0 0 5364 0 5104 0 166369 0 0 0 WARREN W STEVENSON PRC DIRECTOR 441470 BUSINESS RELATIONSHIP WITH DIRECTOR 0 FORM 990, PART VI, SECTION B, LINE 11 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 238926 290370 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 134096 420851 PENNEY RETIREMENT COMMUNITY