2016-11-04T09:11:12-05:00 2016-06-30 550486667 Arnett Carbis Toothman LLP P O Box 2629 Charleston WV 25329 990 2015-07-01 550701159 Edgewood Summit Inc EDGE 3043462323 300 Baker Lane Charleston WV 25302 John Strickland President 3043462323 2016-11-04 1 Tessa W Carr P01291277 3043460441 2015 2017-02-10 21:41:12Z John Strickland 300 Baker Lane Charleston WV 25302 12224614 0 X www.edgewoodsummit.com X 1990 WV The Organization's primary exempt function is to provide, on a non-profit basis, long-term care facilities in the state of West Virginia specifically designed to meet the physical, social and psychological needs of elderly and infirm persons, including but not limited to housing, buildings, structures, equipment, furnishings, programs and related health and other services contributing to their health, security, happiness and physical and mental well-being.The mission of Edgewood Summit is to provide an attractive, caring, comfortable senior living community. A secure environment and quality service that will be the hallmark of this community. 18 18 269 0 0 0 0 0 10761034 11126776 973789 1049003 -181360 42180 11553463 12217959 0 0 0 0 5429740 5597369 0 0 0 6501239 6322323 11930979 11919692 -377516 298267 43446953 42524166 41160947 42413459 2286006 110707 X The Organization's primary exempt function is to provide, on a non-profit basis, long-term care facilities in the state of West Virginia specifically designed to meet the physical, social and psychological needs of elderly and infirm persons, including but not limited to housing, buildings, structures, equipment, furnishings, programs and related health and other services contributing to their health, security, happiness and physical and mental well-being.The mission of Edgewood Summit is to provide an attractive, caring, comfortable senior living community. A secure environment and quality service that will be the hallmark of this community. 0 0 9435363 11168956 The Organization provided, on a non-profit basis, housing, dining, housekeeping, laundry, transportation, activities, nursing and assisted living care, memory support care, and skilled nursing care through the operation of a CCRC - Continuum Care Retirement Community - that served 202 residents in 127 independent and 40 assisted living, 18 memory support and 20 skilled nursing units.In 2013, the Organizaton completed constuction of and opened approximately 30,000 square foot facility that consists of 18 memory assisted living units and 20 skilled nursing beds in a two story structure constructed adjacent to the existing campus. The residents now have a 24 hour nursing staff. Genesis Rehab is also onsite and offers rehabitation services to all residents. 173101 1. Edgewood Summit, Inc. has been open for 21 years. Apartments are upgraded when turnover occurs; this includes fresh paint, new carpet. An enhanced upgrade to each unit includes - new lighting, solid surface countertops in kitchens and baths, all new appliances including washer and dryer. The old appliances (electric ranges, refrigerators, dishwashers) are donated to Habitat for Humanity Restore. Edgewood Summit turned over approximately 53 units this past fiscal year and 36 units were touched up.Total Expense incurred $4,935.002. As apartments turnover our Marketing Department inventories items left in each unit. They coordinate donation of usable items to various charitable organizations in our area such as: Salvation Army, Goodwill Industries and Mountain Mission. Edgewood Summit Inc. turned over approximately 89 units this past fiscal year.Total Expense incurred $1,045.003. Annually Edgewood Summit, Inc. participated in the following charitable activities: Food Drive for Manna Meal - Fall and Spring Clothing Drive for Covenant House - Fall and Spring Read-A-Loud labeling 75,000 magazines for schools throughout the state Book Donations to Kanawha County Public Library Stuffing Easter Eggs with treats for City of Charleston Easter Egg Hunt Stuffing Easter Eggs with treats for City of South Charleston Easter Egg Hunt Stuffing Easter Eggs with treats for St. Marks United Methodist ChurchTotal Expense incurred $3,074.004. Edgewood Summit, Inc. was a sponsor for West Virginia Alzheimer's Memory Walk, West Virginia Health Care Foundation Long Term Care Golf Classic Sponsorship, Thomas Healthcare Foundation Golf Sponsorship, WV Geriatric Society, WV Symphony and Charleston Ballet, all of these organizations are non-profit with proceeds going to fund educational programs in each specific organization.Total Expense incurred $11,425.005. Throughout the fiscal year Edgewood Summit made memorial contributions to charitable organizations in memory of former residents, resident's family members and employee family members. Total Expense incurred $650.006. In the fall of 2013 Edgewood Summit opened the Arthur B. Hodges Center, with 20 skilled nursing and 18 memory support units to complete the full continuum of care on our campus. Along with this addition all new residents moving into independent living will get a 20% discount from full contractual rates as they move through the continuum. For all current independent living residents a plan was offered where the current resident could pay a one-time non-refundable deposit of $15,000 and they would also receive the health care benefit as they moved through the continuum. Edgewood Summit had approximately 22 current residents to take this offer. During fiscal year ending June 30,2016 Edgewood Summit had 21 residents move to higher levels of care and begin utilizing the 20% discount - AL 7, MS 5, and SN 9.Total Expense incurred $145,166.007. Edgewood Summit partnered with Bridge Valley Community and Technical College mentoring a Gerontology student with practicum hours. The student worked under the supervision of the Lifestyle Director and Assistant Director planning and executing events with IL and AL residents.Total Expense incurred $5,420.008. On June 23, 2016 a devastating flood occurred in several areas of West Virginia. It has been referred to as the 1,000 year flood. Edgewood Summit contributed to The West Virginia Health Care Foundation - Flood Relief Fund. This fund will help employees of long term care facilities whom were affected by the flood. In addition employees and residents donated cleaning products, baby items, and food which were donated to the Union Way and were distributed in our area to flood victims. Edgewood Summit also donated to Union Mission our emergency water and food supply we had on hand. Total Expense incurred $1,386.00Annual total expense for Community Services $173,101.00 9608464 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 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 49 0 269 1 0 0 0 0 0 0 0 0 0 0 X 18 18 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X Diane Gouhin Executive Director 3043462323 300 Baker Lane Charleston WV 25302 X John Strickland President 2.00 X X 0 0 0 Cam Siegrist Vice-President 2.00 X X 0 0 0 Amy Condaras Secretary 2.00 X X 0 0 0 Robert Simpson Jr Treasurer 2.00 X X 0 0 0 Jack Albert Director 2.00 X 0 0 0 Jane Cline Director 2.00 X 0 0 0 Dan Foster Director 2.00 X 0 0 0 Georgette George Director 2.00 X 0 0 0 Betty Ireland Director 2.00 X 0 0 0 Sallie McClaugherty Director 2.00 X 0 0 0 Patrick McGivern Director 2.00 X 0 0 0 Andy Paterno Director 2.00 X 0 0 0 Cyndi Persily Director 2.00 X 0 0 0 Leroy Rashid Director 2.00 X 0 0 0 Steve Rubin Director 2.00 X 0 0 0 Reed Spangler Director 2.00 X 0 0 0 Jan Vinyard Director 2.00 X 0 0 0 Reed Spangler Director 2.00 X 0 0 0 Diane Gouhin Executive Director 40.00 X 0 0 0 Cherie Litton Marketing Director 40.00 X 100897 0 0 George Barker Administrator 40.00 X 111477 0 12646 212374 0 12646 2 0 0 1 GMSC West Virginia LLC 225 E John Carpenter Freeway Suit Irving TX 75062 Management Services 511718 Genesis Eldercare Rehab Services P O Box 821322 Philadephia PA 19182 Therapy Services 202203 Agsten Construction Co 209 WWashington Street Suite 200 Charleston WV 25302 Construction 201007 Glynn Devins 11230 Gollege Blvd Overland Park KS 66210 Ad Agency 199524 Dixieland Carpet 72nd Street SE Charleston WV 25304 Construction 176791 7 Resident services 623990 11126776 11126776 11126776 279077 279077 28166 0 28166 28166 28166 776581 0 6655 776581 -6655 769926 769926 Bad Debt Recovery 900099 14014 14014 14014 12217959 11168956 0 1049003 X 4241155 3604134 637021 17283 14687 2596 981143 833775 147368 357788 304048 53740 448839 448839 67022 67022 24635 24635 78478 78478 180270 153193 27077 55702 47336 8366 1388300 1179777 208523 150356 127773 22583 1624036 1380106 243930 72425 61547 10878 13686 11630 2056 1674835 1423275 251560 272019 231162 40857 Taxes 122266 103902 18364 Bad debt 75696 75696 Dues & Subscriptions 27262 23167 4095 Employee evaluations 9468 8046 1422 37028 25210 11818 11919692 9608464 2311228 0 10870 27234 639495 1496179 1053906 784200 16837 16472 188920 168919 39492260 16124392 24104309 23367868 16630099 16029115 802517 634179 43446953 42524166 794103 665495 18452298 19694551 8130527 7891530 13784019 14161883 41160947 42413459 X 2286006 110707 2286006 110707 43446953 42524166 X 298267 -1357733 -1115833 X 0 1 X 1 0 X 7117820 7068851 8416163 10789967 11126776 44519577 7117820 7068851 8416163 10789967 11126776 44519577 0 0 0 44519577 291931 462674 272654 379315 279077 1685651 291931 462674 272654 379315 279077 1685651 190094 1907 4603 2046 14014 212664 7599845 7533432 8693420 11171328 11419867 46417892 0.95910 0.95230 0.03630 0.03480 X 2690474 12890 -26359 2677005 1098501 1909276 20145 337448 2690474 1809310 4701256 141201 5553266 1098501 4414391 8440479 96226 11141786 1809310 4900592 310051 41786 838038 4414391 1.00000 1 0 856564 856564 26491528 8259223 18232305 8049765 5989374 2060391 4094403 1875795 2218608 23367868 Phase III Expansion Loan 8321345 Series 2014 Bonds 4842244 Interest rate swap agreement 998294 14161883 12217959 0 12217959 0 12217959 11919692 0 11919692 0 11919692 Part V, Line 4: Funds designated by the board to provide housing assistance/charity care for residents that have exhausted all other means of assets or income for housing: $ 1,002,569; and funds reserved for bond indenture agreement-administered by a third party: $1,674,436. X 0 0 0 0 0 0 0 0 0 Form 990, Part VII, Section A, Line 5 Unrelated Organization Officer Compensation: For the calendar year ended 12/31/2015, the Executive Director received compensation from the organization's management company, GMSC West Virginia LLC, as follows: Salary $175,715, bonus $24,417, deferred compensation $6,004, and nontaxable benefits of $4,985 for a total of $211,121. A West Virginia Economic Development Authority 550460512 956486BL7 2004-02-25 11231025 Refund Series 1993 bonds 0 0 0 B West Virginia Economic Development Authority 550460512 956486CA0 2006-05-09 6706340 Refund Series 1999 bonds 0 0 0 A 8450000 11231025 1 0 1 1 B 1675000 6706340 0 1 1 1 A 0 0 0 1 1 0 0 0 1 B 0 0 0 1 0 0 0 0 1 A 1 B 1 Date Rebate Computation Performed Issuer Name: West Virginia Economic Development Authority Date the Rebate Computation was Performed: 05/01/2014 Issuer Name: West Virginia Economic Development Authority Date the Rebate Computation was Performed: 05/01/2014 Form 990, Part VI, Section A, line 3 Edgewood Summit, Inc. (the community) has delegated management duties to a management company experienced in senior living. The executive director is an employee of the management company contracted to provide management oversight at the community. In addition, the executive director and community staff are supported by various team members of the management company that provide operations, marketing and financial support services. Form 990, Part VI, Section B, line 11 The Executive Director, the Board of Directors, and a representative of the organization's management company review the 990 before it is filed with the IRS. Form 990, Part VI, Section B, line 12c The organization constantly monitors the conflict of interest policy. Form 990, Part VI, Section B, line 15 The executive director is an employee of the management company, contracted to provide management oversight at the community. The executive director's initial compensation was based on industry market survey comparisons and initial compensation and annual wage adjustments are approved by the board of directors during review and approval of the annual operating budget. Form 990, Part VI, Section C, line 19 Edgewood Summit, Inc. makes its governing documents and financial statements available to the public through the West Virginia Secretary of State's office and The West Virginia Economic Development Authority. Form 990 Part IX, Line 11a The total for management services expense of $448,839 includes the compensation of the Executive Director as follows: Executive Director salary and benefits: $211,121 Management Company general services: $237,718 Form 990, Part XI, line 9: Change in fair value of derivative obligation -1,115,833.