2015-11-13T12:52:58-06:00 2014-12-31 560747981 DIXON HUGHES GOODMAN LLP 500 RIDGEFIELD COURT ASHEVILLE NC 28806 990 2014-01-01 561152263 ARBOR ACRES UNITED METHODIST RETIREMENT COMMUNITY INC ARBO 3367247921 1240 ARBOR ROAD WINSTONSALEM NC 271041197 SIGNING OFFICER CHIEF FINANCIAL OFFICER 3367247921 2015-11-13 1 AMY BIBBY P00445891 8282542254 2014 2016-03-07 17:11:31Z KENNETH BOYLES 1240 ARBOR ROAD WINSTONSALEM NC 271041197 31148396 0 X WWW.ARBORACRES.ORG X 1975 NC TO SERVE SENIOR ADULTS WHILE PROVIDING SECURITY, CONTENTMENT, AND LIFE WITH MEANING & PURPOSE. 32 32 508 175 0 0 1474415 3934616 25689543 25644677 1040931 1150940 60223 397814 28265112 31128047 0 0 0 0 14495025 15023313 0 0 425351 12398282 13130507 26893307 28153820 1371805 2974227 116400311 119312503 73827004 74240797 42573307 45071706 X ARBOR ACRES, AN AFFILIATE MINISTRY OF THE UNITED METHODIST CHURCH, SERVES SENIOR ADULTS THROUGH FACILITIES AND PROGRAMS THAT ENHANCE OPPORTUNITY FOR SECURITY, CONTENTMENT AND LIFE WITH MEANING AND PURPOSE. 0 0 23547980 25652302 ARBOR ACRES, A CONTINUING CARE RETIREMENT COMMUNITY (CCRC), PROVIDING A CONTINUUM OF INDEPENDENT LIVING FACILITIES WHICH INCLUDE FOUR MID-RISE RESIDENTIAL WINGS CONTAINING 124 UNITS (STUDIO, EFFICIENCY AND CONNECTING ROOM SUITES); 2 TWO-BEDROOM COURTYARD APARTMENTS; 6 ONE-BEDROOM AND 6 TWO-BEDROOM CLUSTER HOMES AND 128 HOUSES. IN ADDITION TO THE INDEPENDENT LIVING FACILITIES, ARBOR ACRES ALSO HAS 102 ADULT CARE HOME BEDS AND 65 NURSING CARE BEDS (LOCATED IN THE FITZGERALD HEALTH CENTER). AS OF DECEMBER 31, 2014, ARBOR ACRES SERVED 458 RESIDENTS IN THE ABOVE UNITS.ARBOR ACRES HOLDS MEMBERSHIPS WITH LEADING AGE (FORMERLY THE AMERICAN ASSOCIATION OF HOMES AND SERVICES FOR THE AGING) AND LEADING AGE NC (FORMERLY THE NORTH CAROLINA ASSOCIATION OF NON-PROFIT HOMES FOR THE AGING). THE FACILITY IS ACCREDITED THROUGH THE CONTINUING CARE ACCREDITATION COMMISSION.AN IMPORTANT COMPONENT OF FULFILLING ARBOR ACRES' MISSION IS THE PROVISION OF FINANCIAL ASSISTANCE SUPPORT TO ENABLE RESIDENTS TO RESIDE AT ARBOR ACRES WHO WOULD OTHERWISE BE UNABLE TO AFFORD TO DO SO. FOR THE YEAR ENDING DECEMBER 31, 2014, $1,718,000 OF FINANCIAL ASSISTANCE WAS PROVIDED TO RESIDENTS TO HELP THEM MAINTAIN RESIDENCY AT THE FACILITY.DURING 2014 THE FOLLOWING SPECIFIC ACCOMPLISHMENTS ENHANCED THE ABILITY TO SERVE RESIDENTS:1. MAINTAINED NEAR FULL OCCUPANCY OF ASSISTED LIVING, MEMORY CARE AND SKILLED NURSING LEVELS OF LICENSED CARE AND EXCEEDED 90% OCCUPANCY OF INDEPENDENT LIVING UNITS.2. SPONSORED AND FACILITATED PARTICIPATION OF RESIDENT EFFORTS IN COMMUNITY SERVICE PROJECTS TO INCLUDE SENIOR SERVICES' MEALS ON WHEELS PROGRAM, RONALD MCDONALD HOUSE LUMINARIES, TUTORING STUDENTS AT COOK ELEMENTARY SCHOOL, BACK TO SCHOOL SUPPLIES PROGRAM FOR COOK ELEMENTARY SCHOOL AND SOLES FOR SOULS SHOE DRIVE, ETC. 23547980 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 53 0 1 508 1 0 0 0 0 0 0 0 0 0 1 0 X 32 32 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X KENNETH BOYLES CFO 3367247921 1240 ARBOR ROAD WINSTONSALEM NC 27104 VICTORIA HUNT BOARD CHAIR 1.00 X X 0 0 0 WILLIAM F WOMBLE JR BOARD TREASURER 1.00 X X 0 0 0 PAUL WILES VICE PRESIDENT 1.00 X X 0 0 0 MARIAN DOUGLAS CHAIR ELECT 1.00 X X 0 0 0 SUSAN HAUSER BOARD MEMBER 1.00 X 0 0 0 RALPH HOLTHOUSER BOARD MEMBER 1.00 X 0 0 0 NANCY S CANNON BOARD MEMBER 1.00 X 0 0 0 AMY EGLESTON BOARD MEMBER 1.00 X 0 0 0 DAVID B BLANCO BOARD MEMBER 1.00 X 0 0 0 NICK DAVES BOARD MEMBER 1.00 X 0 0 0 DUANE DAVIS BOARD MEMBER 1.00 X 0 0 0 TIMOTHY DAVIS BOARD MEMBER 1.00 X 0 0 0 DON EPPERT BOARD MEMBER 1.00 X 0 0 0 RICHARD FULP BOARD MEMBER 1.00 X 0 0 0 LISA P PURCELL BOARD MEMBER 1.00 X 0 0 0 BRENDA ROBERTSON BOARD MEMBER 1.00 X 0 0 0 JAMES GALLAHER BOARD MEMBER 1.00 X 0 0 0 MARY PRESTON YATES BOARD MEMBER 1.00 X 0 0 0 BISHOP LARRY GOODPASTOR BOARD MEMBER 1.00 X 0 0 0 DR DUDLEY CHAMDLER BOARD MEMBER 1.00 X 0 0 0 REV DR WILLIAM T MEDLIN III BOARD MEMBER 1.00 X 0 0 0 SCOTT GERDING BOARD MEMBER 1.00 X 0 0 0 ANITA OGBURN BOARD MEMBER 1.00 X 0 0 0 DALE DEK DRISCOLL BOARD MEMBER 1.00 X 0 0 0 KAY JOHNSON-WARE BOARD MEMBER 1.00 X 0 0 0 MARTHA KEIGER BOARD MEMBER 1.00 X 0 0 0 RICHARD SPANGLER BOARD MEMBER 1.00 X 0 0 0 KATHY NELSON BOARD MEMBER 1.00 X 0 0 0 PAMELA BALL BOARD MEMBER 1.00 X 0 0 0 JAMES RUFFIN BOARD MEMBER 1.00 X 0 0 0 WILLIAM SAYERS BOARD MEMBER 1.00 X 0 0 0 J WILLIAM MCGUINN JR BOARD MEMBER 1.00 X 0 0 0 STEVEN REEDER BOARD MEMBER 1.00 X 0 0 0 JAMES A ROUSSEAU II BOARD MEMBER 1.00 X 0 0 0 SUSAN A SCHWARTZ BOARD MEMBER 1.00 X 0 0 0 STEVEN VIRGIL BOARD MEMBER 1.00 X 0 0 0 REV DR JEFFREY PATTERSON BOARD MEMBER 1.00 X 0 0 0 DORIS WHITT BOARD MEMBER 1.00 X 0 0 0 FLORENCE CORPENING BOARD MEMBER 1.00 X 0 0 0 W DAVID PINER CEO 40.00 X 254239 0 44374 KATHY GWYN COO 40.00 X 99674 0 15755 KENNETH W BOYLES CFO 40.00 X 160206 0 19160 KATRINA BODFORD CORPORATE SECRETARY 40.00 X 47787 0 12581 561906 0 91870 2 0 1 0 BWHAWKINS BUILDERS 3614 N LAKESHORE DRIVE CLEMMONS NC 27012 CONSTRUCTION 740566 DIXON CUSTOM CABINTERY 129 FURLONG INDUSTRIAL DRIVE KERNERSVILLE NC 27284 CABINTERY 180252 2 3934616 16000 3934616 RESIDENT FEES 623000 21618922 21618922 DEFERRED ENTRANCE FEES 623000 4012355 4012355 APPLICATION FEES 623000 13400 13400 25644677 675286 675286 468029 7625 0 0 468029 7625 475654 7625 468029 35076 20349 14727 14727 SALES TAX REFUND 900099 281000 281000 GUEST ROOM RENTAL 900099 38314 38314 FOOD SERVICE REVENUE 900099 21390 21390 42383 42383 383087 31128047 25652302 0 1541129 636276 176918 459358 10024979 8751268 1176367 97344 3349374 2770944 532413 46017 1012684 841478 121305 49901 137222 137222 53835 53835 555697 361311 58623 135763 153017 153017 2064193 1367413 600969 95811 8160 8160 2143132 1633850 509282 84218 78206 5497 515 1522854 1522854 4593138 4593138 372601 372601 FOOD COST 1429125 1429125 MISCELLANEOUS 13315 13315 28153820 23547980 4180489 425351 523889 695730 96952 907219 392542 297792 201923 292875 137518567 52596025 85058977 84922542 29286032 31408339 839996 788006 116400311 119312503 2062503 1885583 26484578 27303243 45053977 43991567 225946 1060404 73827004 74240797 X 33884901 33957724 1876170 4179935 6812236 6934047 42573307 45071706 116400311 119312503 2974227 -475828 0 X X 0 1 X 1 0 X 2324101 1431694 1186500 1474415 3934616 10351326 18563259 20210500 22698413 25689543 25644677 112806392 11726 98403 142419 105957 418163 776668 20899086 21740597 24027332 27269915 29997456 123934386 6900 523547 967785 1498232 0 6900 523547 967785 1498232 122436154 683958 766195 732612 695945 675286 3553996 683958 766195 732612 695945 675286 3553996 21583044 22506792 24759944 27965860 30672742 127488382 0.96040 0.96550 0.02790 0.03000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 13557947 121811 729268 519404 13889622 11783207 491275 1809160 525695 13557947 10883094 179181 1173090 452158 11783207 10714767 376959 226699 435331 10883094 9224309 121319 1772061 402922 10714767 0.36990 0.49920 0.13090 0 0 2000 2166825 2168825 113387391 42048619 71338772 9527895 4371322 5156573 9885595 6176084 3709511 2548861 2548861 84922542 REFUNDABLE DEPOSITS 71200 INTEREST RATE SWAP LIABILITY 989204 1060404 X 30664943 -475828 12724 -463104 31128047 0 31128047 28166544 12724 12724 28153820 0 28153820 PART V, LINE 4: ARBOR ACRES CURRENTLY MAINTAINS A FINANCIAL ASSISTANCE PROGRAM AND POLICY FOR RESIDENTS HOLDING CONTINUING CARE RESIDENCY AGREEMENTS IN THE EVENT THE RESIDENT(S) SHOULD BECOME UNABLE TO PAY FOR SERVICES. THERE IS A BOARD DESIGNATED ASSISTANCE ENDOWMENT OF $5,138,129 AND A PERMANENT ASSISTANCE ENDOWMENT OF $6,434,047. THERE IS A SWIMMING POOL ENDOWMENT OF $500,000. PART X, LINE 2: ARBOR ACRES 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. ARBOR ACRES HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF DECEMBER 31, 2014. FISCAL YEARS ENDING ON OR AFTER DECEMBER 31, 2011 REMAIN SUBJECT TO EXAMINATION BY FEDERAL AND STATE TAX AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 20,349. GAIN ON DISPOSAL -7,625. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 20,349. GAIN ON DISPOSAL OF ASSET -7,625. X X X X X 0 0 0 0 0 0 0 0 0 W DAVID PINER CEO 221895 0 22500 0 9844 0 31785 0 12589 0 298613 0 0 0 KENNETH W BOYLES CFO 145353 0 10000 0 4853 0 9683 0 9477 0 179366 0 0 0 A NORTH CAROLINA MEDICAL CARE COMMISSION 521309402 6579026M9 2007-03-21 17845817 REFUND SERIES 2002 ISSUE 0 0 0 B NORTH CAROLINA MEDICAL CARE COMMISSION 521309402 2010-06-10 28875000 CAPITAL EXPENDITURES 0 0 0 A 1335000 17845938 19871199 312927 2004 1 0 1 1 B 584872 28875000 594152 317532 26852670 1434774 2012 0 0 0 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 A 0 0 1 0 0 0 0 0 0 B 0 0 0 0 1 0 0 0 0 A 0 B 0 FORM 990, PART VI, SECTION B, LINE 11 THE ORGANIZATION PROVIDED AN ELECTRONIC COPY OF THE FORM 990 TO ALL VOTING BOARD MEMBERS FOR PERSONAL REVIEW PRIOR TO A REGULARLY SCHEDULED BOARD MEETING. A QUESTION AND ANSWER PERIOD WAS HELD AT THE BOARD MEETING TO ADDRESS ANY QUESTIONS. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR, ALL BOARD MEMBERS ARE REQUIRED TO SIGN A CERTIFICATION THAT THEY HAVE READ AND UNDERSTAND OUR POLICY. THEY ARE ALSO REQUIRED TO DISCLOSE ANY POTENTIAL CONFLICTS OR RELATIONSHIPS. THESE CERTIFICATIONS ARE KEPT ON FILE AND ARE REVIEWED ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF ALL OFFICERS, SENIOR MANAGERS, AND HIGHEST PAID EMPLOYEES IS ANNUALLY REVIEWED AND APPROVED BY AN INDEPENDANT COMPENSATION COMMITTEE OF CONSISTING OF THE BOARD CHAIR, CHAIR OF HUMAN RESOURCES, AND CHAIR OF THE FINANCE COMMITTEE. THE HUMAN RESOURCES ACCUMULATES COMPARATIVE DATA FROM 990'S OF COMPARABLE ORGANIZATIONS, LEADING AGE, AND OTHER WAGE SURVEYS TO COMPARE TO CURRENT COMPENSATION FOR REASONABLENESS. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION'S FORM 990 IS MADE AVAILABLE TO THE PUBLIC UPON REQUEST. ADDITIONALLY, RECENT FILINGS OF THE FORM CAN BE FOUND ON WWW.GUIDESTAR.ORG. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE UPON REQUEST. ANNUAL AUDITED FINANCIAL STATEMENTS ARE POSTED ON ELECTRONIC MUNICIPAL MARKET ACCESS ON THE MSRB WEBSITE. THOSE DOCUMENTS ARE ALSO A PART OF THE ANNUAL DISCLOSURE STATEMENT MADE AVAILABLE THROUGH THE NC DEPARTMENT OF INSURANCE WEBSITE. THE ANNUAL AUDIT IS DISTRIBUTED TO RESIDENT COUNCIL AND MADE AVAILABLE TO ANY RESIDENT UPON REQUEST. PART XII LINE 2C THERE ARE NO CHANGES FROM PRIOR YEAR.