2015-11-12T07:17:12-06:00 2015-06-30 410746749 CLIFTONLARSONALLEN LLP 600 WASHINGTON AVENUE SUITE 1800 ST LOUIS MO 63101 990 2014-07-01 311002846 WESTMINSTER VILLAGE WEST LAFAYETTE INC WEST 7654637546 2741 NORTH SALISBURY STREET WEST LAFAYETTE IN 47906 ANDY GUTWEIN BOARD PRESIDENT 7654637546 2015-10-30 1 JEFF PARKER P00970069 3149254300 2014 2016-02-25 16:41:14Z VICKI GREGORY 2741 NORTH SALISBURY STREET WEST LAFAYETTE IN 47906 19347196 0 X N/A X 1976 IN PROVIDES RESIDENTIAL FACILITIES DESIGNED TO MEET THE NEEDS OF THE ELDERLY. 9 9 366 62 0 0 111455 184289 15696124 17940231 469364 108210 636493 633811 16913436 18866541 111355 125191 0 0 8587794 8671735 0 0 0 9667247 9950411 18366396 18747337 -1452960 119204 56649014 68643269 53234663 67852544 3414351 790725 PROVIDES RESIDENTIAL FACILITIES DESIGNED TO MEET THE NEEDS OF THE ELDERLY AND PROVIDE FOR THE PHYSICAL, MENTAL AND FINANCIAL WELL BEING OF ITS RESIDENTS. FINANCIAL ASSISTANCE IS PROVIDED TO THOSE RESIDENTS UNABLE TO MEET THEIR LIVING EXPENSES. 0 0 16471448 125191 17940231 WESTMINSTER VILLAGE WEST LAFAYETTE, INC. IS A NOT-FOR-PROFIT, CONTINUING CARE RETIREMENT COMMUNITY LOCATED IN WEST LAFAYETTE, INDIANA. FACILITIES INCLUDE 130 RESIDENTIAL UNITS (INDEPENDENT LIVING CENTER), 57 INDEPENDENT LIVING COTTAGES, A 70 BED COMPREHENSIVE CARE FACILITY (THE HEALTH CENTER), AND A 76 BED ASSISTED LIVING FACILITY. WESTMINSTER'S PRIMARY PURPOSE IS THE PROVISION OF CONTINUING CARE SERVICES TO THE CITIZENS OF WEST LAFAYETTE, INDIANA AND THE SURROUNDING COMMUNITIES. 16471448 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 1 0 0 0 0 0 1 0 0 0 1 21 0 366 1 0 0 0 0 0 0 0 0 0 0 X 9 9 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 IN X WESTMINSTER VILLAGE WEST LAFAYETTE 7654637546 2741 NORTH SALISBURY WEST LAFAYETTE IN 47906 X PETER NEISEL TREASURER 12.00 X X 0 0 0 ROBERT WOERNER SECRETARY 10.00 X X 0 0 0 GLENN TOMPKINS MEMBER 5.00 X 0 0 0 MARY ANNE SLOAN MEMBER 5.00 X 0 0 0 LOUIS CARR MEMBER 5.00 X 0 0 0 ROBERT PAHL MEMBER 10.00 X 0 0 0 STEVE HABBEN PRESIDENT 15.00 X X 0 0 0 MARTHA CHISCON MEMBER 5.00 X 0 0 0 ANDREW S GUTWEIN VICE PRESIDENT 12.00 X X 0 0 0 VICKI GREGORY EXECUTIVE DIRECTOR 40.00 X 0 0 0 BENJAMIN BLANKENSHIP HFA 40.00 X 0 0 0 DAWN WALKER MARKETING DIRECTOR 40.00 X 148294 0 12167 148294 0 12167 1 0 1 0 KETTELHUT CONSTRUCTION 740 SAGAMORE PARKWAY LAFAYETTE IN 47905 CONSTRUCTION SERVICES 7243525 CRSA LCS MANAGEMENT LLC 400 LOCUST ST SUITE 820 DES MOINES IA 50309 MANAGEMENT SERVICES 1139046 REHABCARE GROUP PO BOX 503534 ST LOUIS MO 63150 THERAPY SERVICES 826704 INTERDESIGN 141 E OHIO ST INDIANAPOLIS IN 46204 ARCHITECT SERVICES 803979 LAWN & SHRUB PO BOX 155 BUCK CREEK IN 47924 LANDSCAPING 553059 7 125191 59098 184289 SERVICE FEES 623000 16969510 16969510 LIFE OCC. FEE AMORTIZATION 623000 970721 970721 17940231 100440 100440 488425 480655 7770 7770 7770 GUEST ROOMS/MEALS 623000 265118 265118 OTHER INCOME 623000 189405 189405 BEAUTY SALON INCOME 623000 111580 111580 67708 67708 633811 18866541 17940231 0 742021 125191 125191 262391 262391 6615977 5985806 630171 45421 39527 5894 1171229 1019246 151983 576717 501880 74837 442717 394662 48055 12867 12867 53580 53580 1571111 1512651 58460 193238 193238 1004888 923369 81519 64047 64047 963093 905173 57920 126342 29043 97299 884838 831624 53214 3027776 2845686 182090 253450 238208 15242 FOOD 992102 992102 RESIDENT ENTERTAINMENT 146695 118412 28283 EMPLOYEE RECRUITMENT 112339 112339 DUES AND SUBSCRIPTIONS 52474 52474 48854 8868 39986 18747337 16471448 2275889 0 495802 621373 4641111 7434018 22605 60330 547411 500926 125692 65745 74014 45920 47139 84371846 31789126 44806424 52582720 4709650 4739031 403729 865469 910617 1592557 56649014 68643269 1478516 3001878 25754159 27921934 24375000 7895382 24293680 1626988 4739670 53234663 67852544 X 3385298 703568 29053 87157 3414351 790725 56649014 68643269 X 119204 -70230 -2672600 X X 0 1 X 1 0 X 92045 113599 111641 111455 184289 613029 13982511 10582729 14595094 15696124 17940231 72796689 14074556 10696328 14706735 15807579 18124520 73409718 0 0 0 73409718 12188 3919 118975 89289 100440 324811 12188 3919 118975 89289 100440 324811 454844 483096 478194 497724 633811 2547669 14541588 11183343 15303904 16394592 18858771 76282198 0.96230 0.96040 0.00430 0.00360 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: LAUNDRY - 2010 AMOUNT: $ 454,844. 2011 AMOUNT: $ 483,096. 2012 AMOUNT: $ 18,075. 2013 AMOUNT: $ 14,293. 2014 AMOUNT: $ 14,438. GUEST ROOMS/MEALS - 2012 AMOUNT: $ 69,608. 2013 AMOUNT: $ 83,880. 2014 AMOUNT: $ 265,118. OTHER INCOME - 2012 AMOUNT: $ 241,515. 2013 AMOUNT: $ 236,315. 2014 AMOUNT: $ 189,405. SALON - 2012 AMOUNT: $ 102,889. 2013 AMOUNT: $ 110,598. 2014 AMOUNT: $ 111,580. GENERAL STORE - 2012 AMOUNT: $ 46,107. 2013 AMOUNT: $ 52,638. 2014 AMOUNT: $ 53,270. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2939505 2939505 62784846 27782908 35001938 8120611 4006218 4114393 10526884 10526884 52582720 RESIDENT DEPOSITS 1801170 FAIR VALUE OF INTEREST RATE SWAPS 2938500 4739670 X 15998520 -70230 -2672600 -2742830 18741350 125191 125191 18866541 18622146 0 18622146 125191 125191 18747337 PART X, LINE 2: THE VILLAGE ADOPTED THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ORGANIZATION'S FINANCIAL STATEMENTS IN ACCORDANCE WITH THE INCOME TAX STANDARD. THIS STANDARD PRESCRIBES RECOGNITION AND MEASUREMENT OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. THE VILLAGE DOES NOT CURRENTLY INCLUDE AN INCOME TAX PROVISION IN THE FINANCIAL STATEMENTS. MANAGEMENT MONITORS THE REPORTING OF UNCERTAIN TAX POSITIONS, WHICH COULD RESULT IN RECORDING OF AN INCOME TAX PROVISION IN THE FUTURE. WESTMINSTER VILLAGE WEST LAFAYETTE, INC. TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL, STATE AND LOCAL AUTHORITIES. THE VILLAGE IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE ITS TAX EXEMPT STATUS AND IS NOT AWARE OF ANY ACTIVITIES THAT ARE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME OR EXCISE OR OTHER TAX EXCEPT FOR THOSE THAT ARE ALREADY REPORTED ANNUALLY. PART XI, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED LOSS ON SWAP -2,314,987. LOSS ON EARLY EXTINGUISHMENT OF DEBT -357,613. PART XI, LINE 4B - OTHER ADJUSTMENTS: GRANT EXPENSES NETTED WITH REVENUE ON F/S 125,191. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANT EXPENSES NETTED WITH REVENUE ON F/S 125,191. 1 FINANCIAL ASSISTANCE 5 125191 FMV PART I, LINE 2: THE FINANCIAL ASSISTANCE IS PROVIDED ON AN ANNUAL BASIS WITH THE REVIEW AND WRITE OFF OF THE ACCOUNTS RECEIVABLE. X 0 0 0 0 0 0 0 0 0 DAWN WALKER MARKETING DIRECTOR 80090 0 4154 0 64050 0 0 0 12167 0 160461 0 0 0 A INDIANA FINANCE AUTHORITY 351602316 2014-08-07 35305000 NEW CONSTRUCTION, RENOVATION OF EXISTING FACILITY 0 0 0 A 35305000 488403 7895382 26921215 2017 0 0 0 1 A 0 1 1 1 0 0.00160 0.00160 1 0 1 A 0 1 0 0 1 0 0 0 1 A 1 SCHEDULE K, PAGE 1, PART II, LINE 17 THE ORGANIZATION DOES MAINTAIN ADEQUATE BOOKS AND RECORDS TO SUPPORT THE ALLOCATION OF PROCEEDS. HOWEVER, A FINAL ALLOCATION HAS YET TO BE MADE. SCHEDULE K, PAGE 1, PART II PREVIOUSLY, THE ORGANIZATION'S SCHEDULE K REPORTED THE SERIES 2010 BONDS, THESE BONDS WERE REFINANCED IN THE CURRENT YEAR BY TAXABLE BONDS. PAGE 1, PART III, LINE 2 THE INSTITUTION DOES REGULARLY "LEASE" OR MAKES LIVING UNITS AVAILABLE FOR USE BY THE ELDERLY AS PART OF ITS TAX EXEMPT MISSION. SCHEDULE K. PART III, LINE 7 THE BONDS ARE NOT PRIVATE ACTIVITY BONDS AS THEY DO NOT MEET THE PRIVATE BUSINESS USE TEST. STEVE HABBEN STEVE HABBEN IS A MEMBER OF THE BOARD OF DIRECTORS 7243525 STEVE HABBEN IS A MEMBER OF THE BOARD OF DIRECTORS AND HE IS ALSO AN EXECUTIVE AT KETTELHUT CONSTRUCTION, INC., WHICH PERFORMED CONSTRUCTION SERVICES FOR THE FACILITY DURING THE YEAR. 0 FORM 990, PART VI, SECTION A, LINE 3 THREE KEY MANAGEMENT EMPLOYEES, THE EXECUTIVE DIRECTOR, CONTROLLER, AND THE HEALTH FACILITY ADMINISTRATOR ARE EMPLOYEES OF CRSA/LCS, THE MANAGEMENT COMPANY. FORM 990, PART VI, SECTION B, LINE 11 A COPY OF THE FORM 990 IS PROVIDED TO EACH MEMBER OF THE BOARD OF DIRECTORS PRIOR TO FILING. THE FORM 990 IS APPROVED BY THE FINANCE AND MANAGEMENT COMMITTEE. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD OF DIRECTORS ARE REQUIRED TO REVIEW AND SIGN A CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS. IF A POSSIBLE CONFLICT OF INTEREST DOES ARISE, THE ISSUE IS VOTED ON BY ALL BOARD MEMBERS THAT DO NOT HAVE AN INTEREST IN THE OUTCOME. FORM 990, PART VI, SECTION B, LINE 15 REVIEW OF COMPENSATION FOR A SIMILAR POSITION IN THE GEOGRAPHIC AREA. FORM 990, PART VI, SECTION C, LINE 19 ALTHOUGH NOT REQUIRED, THE ORGANIZATION WILL PROVIDE PHOTOCOPIES OF ITS FINANCIAL STATEMENTS TO ALL WHO REQUEST THEM. A COPY OF THE FINANCIAL STATEMENTS IS ALSO LOCATED IN THE WESTMINSTER VILLAGE LIBRARY. FORM 990, PART XI, LINE 9: UNREALIZED LOSS ON SWAP -2,314,987. LOSS ON EARLY EXTINGUISHMENT OF DEBT -357,613. FORM 990, PAGE 12, PART XII, LINE 2C THE ORGANIZATION HAS A FINANCE AND MANAGEMENT COMMITTEE THAT IS RESPONSIBLE FOR OVERSIGHT OF THE AUDIT. THIS PRACTICE IS CONSISTENT WITH THE PRIOR YEARS. FORM 990, PAGE 7, PART VII AND PAGE 10, PART IX LINE 5 THE EXECUTIVE DIRECTOR AND HEALTH FACILITY ADMINISTRATOR'S (HFA) COMPENSATION IS PAID BY THE MANAGEMENT COMPANY AND REIMBURSED BY THE ORGANIZATION. THE MANAGEMENT COMPANY ISSUES THE W-2. AS A RESULT, COMPENSATION IS LISTED ON PAGE 10 LINE 5, BUT NOT INCLUDED ON PAGE 7. WESTMINSTER VILLAGE FOUNDATION OF WEST LAFAYETTE INDIANA INC 2741 N SALISBURY STREET WEST LAFAYETTE IN 47906 351537414 SUBSIDIZE EXEMPT ACTIVITIES IN 501(C)(3) LINE 11C, III-FI 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 1 1 0