2016-11-08T14:52:31-06:00 2015-12-31 410746749 CLIFTONLARSONALLEN LLP 610 W GERMANTOWN PIKE STE 400 PLYMOUTH MEETING PA 19462 990 2015-01-01 232212842 WAVERLY HEIGHTS LTD WAVE 6106458600 1400 WAVERLY ROAD GLADWYNE PA 190351254 ROBERT L SUPPER SENIOR VICE PRESIDENT & CFO 6106458600 2016-11-08 1 JAMES D WATSON P01450300 2156433900 2015 2017-02-10 21:41:12Z ROBERT L SUPPER 1400 WAVERLY ROAD GLADWYNE PA 190351254 30409835 0 X WWW.WAVERLYHEIGHTSLTD.ORG X 1982 PA A NOT FOR PROFIT CORPORATION ESTABLISHED TO PROVIDE QUALITY LIFECARE SERVICES TO ITS RESIDENTS. 22 22 436 65 747158 746158 300218 261815 25353131 26967946 874114 984624 2014667 2067017 28542130 30281402 0 0 0 0 13267436 13918356 0 0 0 14106916 14682577 27374352 28600933 1167778 1680469 113551215 116326578 108978767 110347861 4572448 5978717 X WAVERLY HEIGHTS IS A NOT FOR PROFIT CORPORATION ESTABLISHED TO PROVIDE HIGH QUALITY LIFECARE SERVICES IN A PROFESSIONAL AND CARING MANNER. WE DO THIS BY PROVIDING AN EXCEPTIONAL ENVIRONMENT, A WIDE RANGE OF OUTSTANDING CULTURAL ACTIVITIES, A WELL-MAINTAINED PHYSICAL PLANT, WELLNESS SUPPORT AND COMPREHENSIVE MEDICAL SERVICES. WE ARE THE EMPLOYER OF CHOICE FOR PEOPLE WHO ARE COMMITTED AND ATTENTIVE TO THE NEEDS OF SENIORS. WE ACCOMPLISH THIS WHILE MEETING RIGOROUS STANDARDS OF FINANCIAL STABILITY. 1 0 19785096 29012643 A CONTINUING CARE RETIREMENT COMMUNITY PROVIDING LIFECARE SERVICES TO ITS RESIDENTS WHILE SERVING THEIR PHYSICAL, EMOTIONAL, RECREATIONAL, SOCIAL, RELIGIOUS AND HEALTH NEEDS. THESE SERVICES ARE PROVIDED TO RESIDENTS THROUGH THE OPERATION OF 211 INDEPENDENT LIVING UNITS, A 49 UNIT SKILLED NURSING FACILITY, AND A 49 UNIT PERSONAL CARE FACILITY. 19785096 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 1 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 47 0 436 1 1 1 0 0 0 0 0 0 0 0 0 X 22 22 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X ROBERT SUPPER 6106458600 1400 WAVERLY ROAD GLADWYNE PA 190351254 ANNE CONROY TRUSTEE 1.50 X 0 0 0 RICHARD J CONWAY TRUSTEE 1.50 X 0 0 0 DONALD R FLEISCHER TRUSTEE 1.50 X 0 0 0 STEPHEN FUGALE TRUSTEE 1.50 X 0 0 0 STEVEN D KIRKPATRICK TRUSTEE 1.50 X 0 0 0 A GERALD RENTHAL MD TRUSTEE/WCA 1.50 0.25 X 0 0 0 MALCOLM L SCHOENBERG TRUSTEE/WCA 1.50 0.25 X 0 0 0 CHARLES W SOLTIS TRUSTEE 1.50 X 0 0 0 ANITA A SUMMERS TRUSTEE 1.50 X 0 0 0 GERALD HANSEN JR TRUSTEE 1.50 X 0 0 0 ANNE MARIE HEIL TRUSTEE (NON-VOTING) 1.50 X 0 0 0 REVEREND WILLIAM WOOD TRUSTEE (NON-VOTING) 1.50 X 0 0 0 EDWIN B MAHONEY CHAIRMAN & TRUSTEE/WCA 1.50 0.25 X X 0 0 0 RICHARD E BAUER VICE CHAIRMAN & CHAIRMAN/WCA 1.50 0.25 X X 0 0 0 ROBERT K BARRY VICE CHAIRMAN & TRUSTEE/WCA 1.50 0.25 X X 0 0 0 R MICHAEL BUCKLEY MD VICE CHAIRMAN & TRUSTEE/WCA 1.50 0.25 X X 0 0 0 SCOTT M JENKINS VICE CHAIRMAN & TREASURER/WCA 1.50 0.25 X X 0 0 0 DAVID J FARLING TREASURER & TRUSTEE/WCA 1.50 0.25 X X 0 0 0 KATHLEEN A MCENDY SECRETARY & TRUSTEE 1.50 X X 0 0 0 ELEANOR L DAVIS SECRETARY & TRUSTEE/WCA 1.50 0.25 X X 0 0 0 THOMAS GARVIN PRESIDENT & CEO 45.00 X 411149 0 23234 ROBERT SUPPER SENIOR VP & CFO 45.00 X 262647 0 22219 MARC D HEIL VP OF BUILDING SERVICES 45.00 X 135939 0 22375 KATHLEEN JUNGCLAUS VP OF HUMAN RESOURCES 45.00 X 133615 0 20771 JANET THOMPSON VP OF MARKETING 45.00 X 151516 0 17285 MEREDITH FEHER SENIOR VP OF HEALTH CARE SERVICES 45.00 X 159142 0 22498 MARGARET FAHA SALES COUNSELOR 45.00 X 112725 0 6796 1366733 0 135178 7 0 1 0 LIBERTY BUILDERS 619 ELLIS ROAD HAVERTOWN PA 19083 CONSTRUCTION 1257970 RLPS ARCHITECTS 250 VALLEYBROOK DRIVE LANCASTER PA 17601 ARCHITECTURAL 626668 SHIELDS CONSTRUCTION COMPANY INC 1615 WEST CHESTER PIKE WEST CHESTER PA 19382 CONSTRUCTION 565575 MORRISON MANAGEMENT SPECIALISTS 5801 PEACHTREE DUNWOODY ROAD ATLANTA GA 30342 DINING 430105 IT LANDES & SON INC 247 MAIN STREET HARLEYSVILLE PA 19438 PLUMBING, HEATING, & COOLING 310599 16 261815 100703 261815 RESIDENT CARE FEES 623990 15148710 15148710 SKILLED NURSING FACILITY 623990 4986420 4986420 PERSONAL CARE 623990 2733517 2733517 AMORTIZATION OF DEFERRED REVENUE 623990 2688152 2688152 MEMORY SUPPORT 623990 1411147 1411147 26967946 978877 747158 231719 22320 0 22320 22320 22320 89766 44414 103476 24957 -13710 19457 5747 5747 ANCILLARY SERVICES 623990 1154345 1154345 CONTRACT FEE 623990 655000 655000 MANAGEMENT FEE 623990 235352 235352 2044697 30281402 29012643 747158 259786 871016 871016 9694163 7835473 1858690 677545 677545 1899229 37721 1861508 776403 667027 109376 116965 116965 62016 62016 1122092 974072 148020 212979 11694 201285 585400 354513 230887 202676 202676 2798096 1321715 1476381 44831 34972 9859 34595 23205 11390 1021845 776602 245243 4480009 3404807 1075202 286658 286658 DINING SERVICES 1502608 1502608 SUPPLIES 1478411 1236275 242136 MAINTENANCE & REPAIRS 733396 733396 28600933 19785096 8815837 0 5670711 4188012 2078953 2196057 3580118 3692494 84797 74832 759794 804035 133371187 53968679 79614827 79402508 17400644 21266245 2876607 3010398 1484764 1691997 113551215 116326578 2950836 3015124 68591677 70490667 36641980 36033777 794274 808293 108978767 110347861 X 4120012 5498078 382336 410539 70100 70100 4572448 5978717 113551215 116326578 X 1680469 -1001457 727257 X 0 1 X 1 0 X 33325 13292 281614 300218 261815 890264 19573916 21328729 22641897 25353131 26967946 115865619 19607241 21342021 22923511 25653349 27229761 116755883 0 0 0 116755883 483281 458967 452035 850470 254039 2498792 416493 758592 721074 696030 747158 3339347 899774 1217559 1173109 1546500 1001197 5838139 1472377 1175353 1841948 1297103 2044697 7831478 21979392 23734933 25938568 28496952 30275655 130425500 0.89520 0.89410 0.04480 0.04780 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 452436 261815 233612 480639 547306 300218 395088 452436 499842 227381 43546 136371 547306 1789310 661656 6259 1944865 499842 1726893 75242 9025 3800 1789310 0.15000 0.85000 0 0 11505208 11505208 83755006 30108574 53646432 36639466 23388532 13250934 1471507 471573 999934 79402508 X 30007202 -1001457 727257 -274200 30281402 0 30281402 28600933 0 28600933 0 28600933 PART IV, LINE 2B: REFUNDABLE DEPOSITS FOR SKILLED NURSING AND ASSISTED LIVING - $343,292 PRIORITY DEPOSITS FOR INDEPENDENT LIVING - $465,000 PART V, LINE 4: RESIDENT ASSISTANCE, EMPLOYEE ASSISTANCE, AND INFRASTRUCTURE IMPROVEMENT PART X, LINE 2: WAVERLY IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM STATE INCOME TAXES UNDER THE COMMONWEALTH OF PENNSYLVANIA STATUTES. WAVERLY FOLLOWS THE PROVISIONS OF THE INCOME TAX ACCOUNTING STANDARDS REGARDING THE RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. IT IS THE WAVERLY'S POLICY TO ACCOUNT FOR ANY INTEREST OR PENALTIES ASSESSED RELATING TO UNCERTAIN TAX POSITIONS, IF ANY, AS GENERAL AND ADMINISTRATIVE EXPENSES. WAVERLY DID NOT INCUR ANY INTEREST OR PENALTIES FOR THE YEARS ENDED DECEMBER 31, 2015 OR 2014. THE APPLICATION OF THESE PROVISIONS HAS NO IMPACT ON THE WAVERLY'S CONSOLIDATED FINANCIAL STATEMENTS. WAVERLY'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: DISTRIBUTIONS FROM WCA 727,257. CENTRAL AMERICA AND THE CARIBBEAN 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 X 0 1 X X X X X 0 0 0 0 0 0 0 0 0 THOMAS GARVIN PRESIDENT & CEO 320629 0 30000 0 60520 0 0 0 23234 0 434383 0 0 0 ROBERT SUPPER SENIOR VP & CFO 201365 0 22320 0 38962 0 0 0 22219 0 284866 0 0 0 MARC D HEIL VP OF BUILDING SERVICES 118987 0 4515 0 12437 0 0 0 22375 0 158314 0 0 0 KATHLEEN JUNGCLAUS VP OF HUMAN RESOURCES 120275 0 750 0 12590 0 0 0 20771 0 154386 0 0 0 JANET THOMPSON VP OF MARKETING 124612 0 12000 0 14904 0 0 0 17285 0 168801 0 0 0 MEREDITH FEHER SENIOR VP OF HEALTH CARE SERVICES 142584 0 8790 0 7768 0 0 0 22498 0 181640 0 0 0 PART I, LINE 1A CERTAIN TRANSPORTATION, MEALS AND TRAVEL EXPENSE FOR SPOUSE OF CEO TREATED AS TAXABLE INCOME A MONTGOMERY COUNTY HIGHER EDUCATION AND HEALTH AUTHORITY 232447147 2014-02-01 11184057 TO REFINANCE 2006 BONDS ISSUED 0 0 0 B MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 232245125 2013-09-03 5990000 TO REFINANCE 2009 BONDS ISSUED 0 0 0 C MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 232245125 2013-08-16 10000000 TO REFINANCE 2009 BONDS ISSUED 0 0 0 D MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 232245125 2013-08-01 10000000 TO REFINANCE 2009 BONDS ISSUED 0 0 0 A 1237145 11184057 11184057 1 0 1 1 B 20000 5990000 5990000 1 0 1 1 C 45000 10000000 10000000 1 0 1 1 D 45000 10000000 10000000 1 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 D 0 0 0 0 0 0 0 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 1 0 0 0 1 C 0 0 0 1 1 0 0 0 1 D 0 0 0 1 1 0 0 0 1 A 1 B 1 C 1 D 1 SCHEDULE K, PART IV, LINE 2C WAVERLY HEIGHTS UNDERWENT AN ARBITRAGE CALCULATION ON AUGUST 25, 2015. THE CALCULATION NOTED THAT THERE WAS NO LIABIITY ON THE REFINANCED 2009 BONDS. A GREEN LANE INDUSTRIAL DEVELOPMENT AUTHORITY 232245125 2015-12-22 10000000 TO FINANCE 2016 EXPANSION PROJECTS 0 0 0 A 151923 151923 0 0 0 0 A 0 0 0 0 0 0 0 A 0 0 1 0 0 0 0 0 1 A 1 X 1 100703 FMV 0 0 0 FORM 990, PART III, LINE 2 WAVERLY HEIGHTS IS IN THE PLANNING STAGE TO BEGIN A 10 UNIT INDEPENDENT LIVING EXPANSION PROJECT AND A MAJOR RENOVATION OF THE COMMONS BUILDING PROJECT FOR THE CONTINUING CARE RETIREMENT COMMUNITY. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY THE SENIOR VICE PRESIDENT OF FINANCE, AND THE CONTROLLER, AFTER PREPARED BY THE INDEPENDENT ACCOUNTANT. THE AUDIT COMMITTEE PERFORMS A FINAL REVIEW AND A COPY IS PROVIDED TO ALL MEMBERS OF THE BOARD OF TRUSTEES BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C WAVERLY HEIGHTS LTD'S CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY TO PROVIDE GUIDANCE TO GOVERNING BOARD MEMBERS. ALL NEW MEMBERS SIGN OFF ON THIS POLICY UPON APPOINTMENT TO THE BOARD. ANY POSSIBLE CONFLICT OF INTEREST ON THE PART OF THE GOVERNING BOARD MEMBERS IS DISCLOSED TO THE OTHER MEMBERS OF THE BOARD AND MADE A MATTER OF RECORD WHEN THE CONFLICT BECOMES A MATTER OF BOARD ACTION. ANY GOVERNING BOARD MEMBERS HAVING A CONFLICT OF INTEREST SHALL NOT VOTE OR USE THEIR PERSONAL INFLUENCE ON THE MATTER, EVEN WHERE PERMITTED BY LAW. THE MINUTES OF THE MEETING SHALL REFLECT THE DISCLOSURE, ABSTENTION AND THE QUORUM. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE CEO AND SENIOR MANAGEMENT OF WAVERLY HEIGHTS LTD IS DETERMINED BY THE BOARD OF HUMAN RESOURCES COMMITTEE BASED ON THE RECOMMENDATIONS FROM AN INDEPENDENT CONSULTANT. THE CONSULTANT BASES THEIR INFORMATION ON SURVEY DATA FROM SIMILAR RETIREMENT COMMUNITIES AND EXTERNAL DATA. ADDITIONALLY, ANY SIGNIFICANT ADJUSTMENTS FOR CHANGE AND ANNUAL ADJUSTMENTS ARE REVIEWED AND RECOMMENDED BY THE HUMAN RESOURCES COMMITTEE TO THE BOARD OF TRUSTEES. THIS PROCESS WAS REVIEWED AND APPROVED IN 2015. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE ALL MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: DISTRIBUTIONS FROM WCA 727,257. WAVERLY CARE ASSOCIATES 1400 WAVERLY ROAD GLADWYNE PA 190351254 232655145 COMPANION SERVICES PA N/A S 746158 1420322 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 1 0 1 WAVERLY CARE ASSOCIATES INC L 235352 FAIR MARKET VALUE