2016-08-15T12:12:01-05:00 2015-09-30 560747981 DIXON HUGHES GOODMAN LLP 500 RIDGEFIELD COURT ASHEVILLE NC 28806 990 2014-10-01 560614176 DEERFIELD EPISCOPAL RETIREMENT COMMUNITY INC DEER 8282741531 1617 HENDERSONVILLE RD ASHEVILLE NC 28803 ROBERT CHANDLER CFO 8282741531 2016-08-15 1 AMY BIBBY P00445891 8282542254 2014 2016-09-27 15:27:22Z ROBERT K CHANDLER 1617 HENDERSONVILLE RD ASHEVILLE NC 28803 36564218 0 X WWW.DEERFIELDWNC.ORG X 1955 NC LIFETIME CARE IN A RELIGIOUS ATMOSPHERE 12 12 418 120 0 0 776702 1014777 30057120 30704774 2938063 4507601 608953 321998 34380838 36549150 535429 1206388 0 0 11495713 12330645 0 0 114054 18502838 17210744 30533980 30747777 3846858 5801373 234140727 233846965 189166241 188865343 44974486 44981622 X THE MISSION OF DEERFIELD EPISCOPAL RETIREMENT COMMUNITY, INC. IS TO OPERATE A NONPROFIT RETIREMENT COMMUNITY GUIDED BY CHRISTIAN IDEALS, TO OFFER A CONTINUUM OF CARE TO ALL PEOPLE, TO PROMOTE INDEPENDENCE AND THE HIGHEST QUALITY OF LIFE, AND TO PROVIDE PHYSICAL AND FINANCIAL SECURITY. 0 0 27886826 1206388 31012080 DEERFIELD EPISCOPAL RETIREMENT COMMUNITY, INC. ("DEERFIELD"), A NORTH CAROLINA NONPROFIT CORPORATION, WAS ORGANIZED FOR THE PURPOSE OF OPERATING A CONTINUING CARE RETIREMENT COMMUNITY. DEERFIELD IS GOVERNED BY A BOARD OF DIRECTORS, WHICH IS COMPOSED OF INDEPENDENT CIVIC LEADERS WHO SERVE WITHOUT COMPENSATION.REV. RUL. 72-124, 1972-1 C.B. 145, SETS OUT REQUIREMENTS THAT "HOMES FOR THE AGED" MUST MEET TO QUALIFY FOR SECTION 510(C)(3) EXEMPTION. THE INTERNAL REVENUE SERVICE PROVIDED THE FOLLOWING REQUIREMENTS: (1) SATISFACTION OF THE NEED FOR HOUSING THROUGH THE PROVISION OF EMOTIONAL, RECREATIONAL, SOCIAL, RELIGIOUS, AND SIMILAR NEEDS OF AGED PERSONS; (2) SATISFACTION OF THE NEED FOR HEALTH CARE THROUGH PROVISION OF PHYSICAL AND MENTAL HEALTH SERVICES DIRECTLY OR THROUGH CONTINUING ARRANGEMENTS WITH OUTSIDE ORGANIZATIONS; AND (3) SATISFACTION OF THE NEED FOR FINANCIAL SECURITY THROUGH MAINTAINING IN RESIDENCE ANY PERSONS WHO BECOME UNABLE TO PAY THEIR REGULAR CHARGE AND THROUGH PROVIDING SERVICES AT THE LOWEST FEASIBLE COST. DEERFIELD SATISFIES ALL THREE REQUIREMENTS.IN CONJUNCTION WITH ITS COMMITMENT TO MAINTAINING PERSONS IN RESIDENCE WHO BECOME UNABLE TO PAY, DEERFIELD HAS ESTABLISHED A BENEVOLENT ASSISTANCE FUND, WHICH IS USED FOR THE EXCLUSIVE PURPOSE OF PROVIDING ASSISTANCE TO RESIDENTS IN NEED. SUCH RESIDENTS ARE IDENTIFIED BASED ON FINANCIAL INFORMATION OBTAINED FROM THE RESIDENT AND SUBSEQUENT REVIEW AND ANALYSIS. DURING THE YEAR ENDED SEPTEMBER 30, 2015, THE CHARGES FORGONE RELATED TO DEERFIELD'S BENEVOLENT ASSISTANCE PROGRAM WERE APPROXIMATELY $434,000.EXCEPT FOR SOME PRE-EXISTING FEE-FOR-SERVICE CONTRACTS, DEERFIELD OPERATES UNDER THE "LIFE CARE" CONCEPT WHEREBY RESIDENTS ENTER INTO AN AGREEMENT WITH THE ORGANIZATION THAT SPECIFIES THE SERVICES AND FACILITIES TO BE PROVIDED TO THE RESIDENT OVER HIS OR HER REMAINING LIFE. THE AGREEMENT REQUIRES PAYMENT OF A ONE-TIME ENTRANCE FEE AND DEERFIELD'S MONTHLY SERVICE FEES. UNDER THE AGREEMENT, DEERFIELD HAS THE ABILITY TO INCREASE FEES AS DEEMED NECESSARY.IN FURTHERANCE OF ITS CHARITABLE PURPOSE, DEERFIELD PROVIDES MEETING AND OFFICE SPACE FOR THREE NON-PROFIT ORGANIZATIONS ON ITS GROUNDS. THE ANNUAL RENTAL INCOME FOREGONE IS VALUED AT AN ESTIMATED $303,300 DURING THE YEAR ENDED SEPTEMBER 30, 2015.DEERFIELD ALSO PROVIDES NUMEROUS COMMUNITY BENEFITS WHICH INCLUDE CHARITABLE DONATIONS AND DONATED VOLUNTEER SERVICES IN THE AMOUNTS OF $450,00 DURING THE YEAR ENDED SEPTEMBER 30, 2015. 27886826 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 56 0 1 418 1 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X ROBERT K CHANDLER 8282741531 1617 HENDERSONVILLE RD ASHEVILLE NC 28803 DR DON LISNERSKI CHAIR 2.00 X X 0 0 0 MRS CHRISTINE DISMUKES VICE CHAIR 2.00 X X 0 0 0 MR LARRY HARRIS TREASURER 2.00 X X 0 0 0 MR JEFF COVINGTON ASST. TREASURER 2.00 X X 0 0 0 MRS LYNN KIEFFER SECRETARY 2.00 X X 0 0 0 MR JOHN FLEMING ASST. SECRETARY 2.00 X X 0 0 0 RT REVEREND PORTER TAYLOR BOARD MEMBER 2.00 X 0 0 0 WALTER MCCONNELL BOARD MEMBER 2.00 X 0 0 0 MR BOB BURGIN BOARD MEMBER 2.00 X 0 0 0 DR VIRGINIA TEMPLETON BOARD MEMBER 2.00 X 0 0 0 DICK JOHANNES BOARD MEMBER 2.00 X 0 0 0 REV S ROSS JONES BOARD MEMBER 2.00 X 0 0 0 MR BOB HOLLIS BOARD MEMBER 2.00 X 0 0 0 MRS ELIZABETH CANTRELL BOARD MEMBER 2.00 X 0 0 0 MR ROBERT F WERNET JR PRESIDENT/CEO 50.00 X 297433 0 55223 MR ROBERT CHANDLER CFO 50.00 X 199655 0 37962 MR KEITH EINSMAN DIRECTOR OF FACILITIES 50.00 X 103969 0 0 MR BRIAN KING DIRECTOR OF HEALTH & WELLNESS 50.00 X 106442 0 17324 MR MATT SHARPE DIRECTOR OF RESIDENT SERVICE 50.00 X 106726 0 10694 814225 0 121203 5 0 1 0 TENNOCA CONSTRUCTION PO BOX 23 CANDLER NC 28715 CONSTRUCTION 1145007 JIMMY WHITE BUILDERS 203 GOVERNORS VIEW RD ASHEVILLE NC 28802 CONSTRUCTION 650313 MECHANICAL BUILDING SYSTEMS LLC PO BOX 765 ARDEN NC 28704 CONSTRUCTION 578074 REHABCARE GROUP PO BOX 503534 ST LOUIS MO 631503534 THERAPY SERVICES 333068 CAROLINA FLOORING CONTRACTORS LLC PO BOX 700 NAPLES NC 28760 CONSTRUCTION 163960 9 1014777 1014777 RESIDENT FEES 623000 22418234 22418234 AMORTIZATION OF ENTRANCE FEES 623000 7811529 7811529 ADDITIONAL RESIDENT SERVICES 900099 475011 475011 30704774 620155 620155 307306 0 307306 307306 307306 3887446 0 3887446 3887446 3887446 14692 15068 -376 -376 MISCELLANEOUS REVENUE 900099 15068 15068 15068 36549150 31012080 0 4522293 1168000 1168000 38388 38388 590273 590273 9187979 8394434 715316 78229 90942 58464 30186 2292 1682531 1437257 234408 10866 778920 684312 89028 5580 126114 126114 90069 90069 269552 269552 1019358 1014527 4831 163385 159309 4076 1420391 1015319 395364 9708 111662 111662 2818149 2818149 36175 9787 24621 1767 38092 18730 17826 1536 3696345 3696345 5157716 5157716 226503 226503 FOOD 1683580 1683580 MEDICAL SUPPLIES 299472 299472 RESIDENT EVENTS 54181 54181 30747777 27886826 2746897 114054 550 550 61898417 65829643 1071271 1018629 59235 68235 131741 147454 178505081 50933207 130274684 127571874 38750046 37423016 1954783 1787564 234140727 233846965 4732842 4470336 79450044 81912974 103945659 99866541 1037696 2615492 189166241 188865343 X 39960821 39891226 1765908 1730444 3247757 3359952 44974486 44981622 234140727 233846965 5801373 -5794237 0 X X 0 1 X 1 0 X 1252559 2341362 950989 776702 723248 6044860 24777943 26137063 28775933 30057120 30387898 140135957 14631 14692 29323 26030502 28478425 29726922 30848453 31125838 146210140 261425 59194 6015 2645 14443 343722 0 261425 59194 6015 2645 14443 343722 145866418 1244671 1315164 1142478 1206998 620155 5529466 1244671 1315164 1142478 1206998 620155 5529466 619510 577615 306273 331568 1834966 27275173 30413099 31447015 32361724 32077561 153574572 0.94980 0.94590 0.03600 0.04130 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 13966230 13966230 153936739 44382966 109553773 9202850 6550241 2652609 1399262 1399262 127571874 ADMISSION DEPOSITS 2615492 2615492 X 30754913 -5794237 -5794237 36549150 0 36549150 30747777 0 30747777 0 30747777 PART X, LINE 2: DEERFIELD IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE; ACCORDINGLY, THE ACCOMPANYING FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION OR LIABILITY FOR FEDERAL AND STATE INCOME TAXES. DEERFIELD HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF SEPTEMBER 30, 2015. FISCAL YEARS ENDING ON OR AFTER SEPTEMBER 30, 2012, REMAIN SUBJECT TO EXAMINATION BY FEDERAL AND STATE TAX AUTHORITIES. 1 SCHOLARSHIP 23 38388 SERVICES PROVIDED TO RESIDENTS FREE OF CHARGE BENEVOLENT ASSISTANCE - SHOWN AS CONTRA REVENUE ON PART VIII OF FORM 990 18 434000 COST OF PROVIDING SERVICES SERVICES PROVIDED TO RESIDENTS FREE OF CHARGE PART I, LINE 2: THE ORGANIZATION MAINTAINS A SCHOLARSHIP PROGRAM, APPLICANTS MUST MEET THE PROGRAM CRITERIA PRIOR TO RECEIVING A SCHOLARSHIP. THE ORGANIZATION ALSO MAINTAINS A BENEVOLENT ASSISTANCE PROGRAM TO ASSIST RESIDENTS IN FINANCIAL NEED. X X X 0 1 0 0 0 0 0 0 0 MR ROBERT F WERNET JR PRESIDENT/CEO 254010 0 39107 0 4316 0 41092 0 14131 0 352656 0 0 0 MR ROBERT CHANDLER CFO 172800 0 26855 0 0 0 23831 0 14131 0 237617 0 0 0 PART I, LINE 4B ROBERT WERNET, CEO AND ROBERT CHANDLER, CFO PARTICIPATE IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN. THE RETIREMENT PLAN PROVIDES INCOME UPON RETIREMENT IN THE AMOUNT OF APPROXIMATELY 65% OF ANNUAL COMPENSATION FOR A PERIOD OF TEN YEARS. THE BOARD INCLUDES THESE AMOUNTS IN HIS ANNUAL COMPENSATION REVIEW AND APPROVAL PROCESS. **NOTE $34,505 AND $17,886 OF THE AMOUNT REPORTED ON THE FORM 990, PAGE 7, COLUMN (F) AND SCHEDULE J, PAGE 2, COLUMN C REFLECT AN AMOUNT NOT ACTUALLY RECEIVED BY THE CEO AND CFO RESPECTIVELY DURING THE YEAR. A NORTH CAROLINA MEDICAL CARE COMMISSION 521309407 6579027M6 2008-08-13 47618557 CAPITAL EXPENDITURES 0 0 0 B NORTH CAROLINA MEDICAL CARE COMMISSION 521309407 65821DAA9 2008-08-13 50035000 REFUND BONDS ISSUED 3/11/04, CAPITAL EXP. 0 0 0 C NORTH CAROLINA MEDICAL CARE COMMISSION 521309402 2014-08-05 24160000 REFUND BONDS ISSUED SERIES 2004A, SERIES 1997, SERIES 2008A, AND SERIESB 0 0 0 A 47665300 3218805 2281091 969444 41183382 2011 0 0 0 1 B 50089818 33520 2061240 667457 379580 36797919 9699793 2011 1 0 0 1 C 24160040 284250 23875750 2014 1 0 0 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 A 0 0 0 0 1 0 0 0 0 B 0 0 0 0 0 0 0 0 0 C 0 0 0 0 1 0 0 0 0 A 0 B 0 C 0 PART II, LINE 11: AMOUNTS PRESENTED ON LINE 11 WERE USED TO CURRENTLY REFUND PRIOR ISSUES. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS IS ELECTED BY THE EXECUTIVE COUNCIL OF THE EPISCOPAL DIOCESE OF WESTERN NORTH CAROLINA FROM PERSONS NOMINATED BY THE ORGANIZATION'S BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11 THE ORGANIZATION PROVIDED A COPY OF THE 990 TO EACH BOARD MEMBER FOR PERSONAL REVIEW PRIOR TO FILING THE RETURN. THE FINANCE COMMITTEE HELD A MEETING TO FORMALLY REVIEW AND APPROVE THE 990. FORM 990, PART VI, SECTION B, LINE 12C THE COMPLIANCE OFFICER ANNUALLY REVIEWS THE CONFLICT OF INTEREST POLICY AND THAT IT IS BEING FOLLOWED. BOARD MEMBERS ARE RESPONSIBLE FOR BRINGING ANY POTENTIAL CONFLICT OF INTEREST TO ATTENTION AND REMOVING THEMSELVES FROM SITUATIONS WHERE THERE MAY BE A POTENTIAL CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE CHAIRMAN OF THE BOARD AND THE EXECUTIVE COMMITTEE PERFORM AN ANNUAL REVIEW OF THE CEO AND OTHER MANAGEMENT OFFICIALS' COMPENSATION FOR REASONABLENESS BY COMPARING COMPENSATION TO AMOUNTS FOUND ON 990S OF SIMILAR ORGANIZATIONS AND COMPENSATION STUDIES. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANZIATION'S 990 ARE MADE AVAILABLE UPON REQUEST. ALSO, RECENT FILINGS OF THE FORM 990 ARE MADE AVAILABLE AT WWW.GUIDESTAR.ORG. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR