2015-11-12T08:57:15-06:00 2015-06-30 410746749 CLIFTONLARSONALLEN LLP 227 WEST TRADE STREET SUITE 800 CHARLOTTE NC 28202 990 2014-07-01 521447069 WESTMINSTER-CANTERBURY OF THE BLUE RIDGE WEST 4349723170 250 PANTOPS MOUNTAIN RD CHARLOTTESVILLE VA 22911 MARY P CLEMENTS CFO CFO 4349723170 2015-11-11 1 JOHN NORMAN P01506766 7049985200 2014 2016-02-25 16:41:14Z GARY B SELMECZI 250 PANTOPS MOUNTAIN RD CHARLOTTESVILLE VA 22911 31750985 0 X WWW.WESTMINSTERCANTERBURY.ORG X 1985 VA PROVIDE HEALTH CARE, HOUSING AND RELATED SERVICES TO THE ELDERLY THROUGH THE OPERATION OF A CCRC. 13 13 377 100 0 0 0 0 27695039 29590356 809982 1491562 238240 669067 28743261 31750985 0 0 0 0 10929593 12230742 0 0 0 15204692 18089406 26134285 30320148 2608976 1430837 182556616 181133693 180896141 180556433 1660475 577260 X WESTMNISTER-CANTERBURY OF THE BLUE RIDGE'S MISSION IS TO MEET THE DYNAMIC NEEDS OF AGING BY PROVIDING HIGH QUALITY SERVICEWS, PROGRAMS AND RESIDENTIAL ENVIRONMENTS THROUGH A FAITH-BASED ORGANIZATION FOSTERED BY THE PRESBYTERIAN AND EPISCOPAL CHURCHES. IN ADDITION TO THE OPERATION OF A LIFE-CARE RETIREMENT COMMUNITY, WCBR ALSO ESTABLISHED AND ORGANIZED THE WESTMINSTER-CANTERBURY OF THE BLUE RIDGE FOUNDATION TO ACT AS THE FUNDRAISING ARM OF AND TO SUPPORT THE CHARITABLE MISSION OF OF WESTMINSTER-CANTERBURY OF THE BLUE RIDGE. 0 0 22510452 29259063 DURING FISCAL YEAR 2015, WCBR PROVIDED HEALTH CARE, HOUSING, ACTIVITIES, MEALS AND OTHER SERVICES FOR AN AVERAGE OF 400 INDIVIDUALS WHO ARE TYPICALLY AGE 62 OR OLDER. WCBR HAS 281 INDEPENDENT LIVING ACCOMMODATION. RESIDENCES RANGE FROM 700 SQUARE FEET APARTMENTS TO OVER 2,400 SQUARE FEET COTTAGES WITH TWO CAR GARAGES. THE AVERAGE NUMBER OF OCCUPIED UNITS IN FISCAL YEAR 2015 WAS 236 (83%) WITH AN ADDITIONAL 88 SPOUSES OR SECOND PERSONS OCCUPYING THE SAME RESIDENCE. RESIDENTS' ACTIVITIES ARE PLENTIFUL AND DIVERSE AND INCLUDE NUMEROUS CLUBS AND COMMITTEES, LECTURES AND LIFE LONG LEARNING OPPORTUNITIES, ART CLASSES, FLOWER ARRANGING, EXERCISE PROGRAMS, SPIRITUAL SERVICES, SPECIAL EVENTS AND TRIPS THAT STIMULATE THE INTELLECT, PASSION AND INTEREST OF OUR RESIDENTS. 22510452 1 0 0 0 0 0 1 0 0 0 1 1 0 1 1 1 0 1 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 1 0 0 0 1 43 0 1 377 1 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 VA X X MARY P CLEMENTS CFO 4349723170 250 PANTOPS MOUNTAIN RD CHARLOTTESVILLE VA 22911 J MICHAEL BURRIS TREASURER 1.00 X X 0 0 0 BARBARA G MCMURRY VICE CHAIR 1.00 X X 0 0 0 KATHERINE F WILLARD TRUSTEE 1.00 X 0 0 0 WILLIAM E CARTER JR CHAIRMAN 2.00 X X 0 0 0 LEONE L CIPORIN TRUSTEE 1.00 X 0 0 0 RICHARD S SHANK TRUSTEE 1.00 X 0 0 0 DAVID M MALONEY TRUSTEE 1.00 X 0 0 0 GARY B SELMECZI CEO/PRESIDENT 40.00 X X 316368 0 48232 DONNA H NUNLEY TRUSTEE 1.00 X 0 0 0 DEBORAH C DESMOND TRUSTEE 1.00 X 0 0 0 PAMELA FITZGERALD TRUSTEE 1.00 X 0 0 0 ROBERT W TUCKER JR SECRETARY 1.00 X X 0 0 0 MICHAEL J HALSETH TRUSTEE 1.00 X 0 0 0 DENNIS S ROOKER TRUSTEE 1.00 X 0 0 0 MARY P CLEMENTS CFO/ASST TREASURER 40.00 X 161248 0 18607 LAURA L JONES DIRECTOR OF MARKETING 40.00 X 103810 0 16982 581426 0 83821 4 0 1 0 WHITING-TURNER CONTRACTORS 9210 ABORETUM PARKWAY STE 190 RICHMOND VA 23236 BUILDING EXPANSION 17055323 RE LEE & SON 2811 HYDRAULIC ROAD CHARLOTTESVILLE VA 22901 DINING RENOVATION 2137024 ABRAHAMSE & COMPANY 325 WINDING RIVER LANE CHARLOTTESVILLE VA 22911 APARTMENT RENOVATIONS 1022766 MARTIN HORN INC 210 CARLTON ROAD CHARLOTTESVILLE VA 22902 COTTAGE RENOVATIONS 517199 SFCS 305 SOUTH JEFFERSON ST ROANOKE VA 24011 ARCHITECT & ENGINEER 487800 14 PROGRAM REVENUE 623000 29259063 29259063 OTHER RESIDENTIAL SERVICES 623000 331293 331293 29590356 208988 208988 1282574 0 1282574 1282574 1282574 MISCELLANEOUS 900000 483341 483341 EXPENSE REIMBURSEMENT FROM FOUNDA 623000 185726 185726 669067 31750985 30259423 0 1491562 665247 665247 8752739 8060555 692184 514643 514643 1591148 1353125 238023 706965 617034 89931 108659 108659 74436 74436 61655 61655 1357048 1126984 230064 388560 388560 108137 108137 338 338 2627898 2627898 74597 74597 3896764 3896764 6040453 6040453 224274 224274 FOOD 1165601 1165601 PROGRAM SUPPLIES 712027 712027 THERAPY EXPENSE 535231 535231 REPAIRS AND MAINTENANCE 340975 340975 372753 271544 101209 30320148 22510452 7809696 0 3184545 1582337 304508 384895 237260 247657 191452545 57178305 130476926 134274240 33072031 29603399 15281346 15041165 182556616 181133693 6072144 2843682 47637842 59262064 93094576 83248068 34091579 35202619 180896141 180556433 X -6573748 -7733484 7831819 7908290 402404 402454 1660475 577260 182556616 181133693 X 1430837 -1306247 -1207805 X X 0 1 X 1 0 X 28049188 25719936 27059019 27417980 29590356 137836479 28049188 25719936 27059019 27417980 29590356 137836479 0 6103099 12860571 18963670 6103099 12860571 18963670 118872809 211738 297049 264469 295537 208988 1277781 211738 297049 264469 295537 208988 1277781 378767 357922 343036 515299 669067 2264091 28639693 26374907 27666524 28228816 30468411 141378351 0.84080 0.93220 0.00900 0.00960 X X 17.00 1 1 402204 50 402454 400229 2175 402204 399079 1150 400229 396979 2100 399079 395879 1100 396979 1.00000 0 1 1 2024321 2024321 172651845 48000294 124651551 14162088 7857816 6304272 2614291 1320195 1294096 134274240 INVESTMENTS 20167991 F ASSETS LIMITED AS TO USE 9435408 F 29603399 DEPOSITS 491928 BOND ISSUE COSTS 1467220 DEFERRED MARKETING COSTS 461251 INTEREST IN FOUNDATION 12620766 15041165 PENSION LIABILITY 1349533 DEPOSITS 154000 INTEREST PAYABLE 1617091 OTHER LIABILITIES 196132 ENTRY FEE NONREFUNDABLE 31885863 35202619 X PART II, LINE 9: THE ORGANIZATION AGREED TO SET ASIDE 17 ACRES FOR NON DEVELOPMENT AS A CONDITION OF SITE PLAN APPROVAL WITH THE COUNTY OF ALBEMARLE. IT IS ONLY REPORTED ON FORM 990 AND AS A NATURE TRAIL IN OUR DOCUMENTS. PART V, LINE 4: THE FOUNDATION HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT. ENDOWMENT ASSETS INCLUDE THOSE ASSETS OF DONOR-RESTRICTED FUNDS THAT THE FOUNDATION MUST HOLD IN PERPETUITY OR FOR A DONOR-SPECIFIED PERIOD. UNDER THIS POLICY, AS APPROVED BY THE BOARD OF TRUSTEES, THE ENDOWMENT ASSETS ARE INVESTED IN A MANNER THAT IS INTENDED TO PRESERVE AND GROW CAPITAL, STRIVE FOR CONSISTENT ABSOLUTE RETURNS, PRESERVE PURCHASING POWER BY STRIVING FOR LONG-TERM RETURNS WHICH EITHER MATCH OR EXCEED THE SET PAYOUT, FEES AND INFLATION WITHOUT PUTTING THE PRINCIPAL VALUE AT IMPRUDENT RISK, AND DIVERSIFY INVESTMENTS CONSISTENT WITH COMMONLY ACCEPTED INDUSTRY STANDARD TO MINIMIZE THE RISK OF LARGE LOSSES. PART X, LINE 2: THE ORGANIZATION'S INCOME TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. THE ORGANIZATION IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE ITS TAX-EXEMPT STATUS. THE ORGANIZATION IS NOT AWARE OF ANY ACTIVITIES THAT ARE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME OR EXCISE OR OTHER TAXES. THE ORGANIZATION HAS ADOPTED GUIDANCE IN THE INCOME TAX STANDARD REGARDING THE RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. THE IMPLEMENTATION HAS HAD NO IMPACT ON THE ORGANIZATION'S FINANCIAL STATEMENTS. 1 X X X X X 0 1 0 0 0 0 0 0 0 GARY B SELMECZI CEO/PRESIDENT 214176 0 34914 0 67278 0 39322 0 8910 0 364600 0 0 0 MARY P CLEMENTS CFO/ASST TREASURER 139208 0 8117 0 13923 0 11687 0 6920 0 179855 0 0 0 PART I, LINE 4B GARY B. SELMECZI AND MARY P. CLEMENTS RECEIVED 457 PLAN PAYMENTS OF $85,978 AND $13,873, RESPECTIVELY. A INDUSTRIAL DEVELOPMENT AUTHORITY OF ALBERMARLE COUNTY VIRGINIA 521297503 01266LCB4 2007-03-15 51700457 REFINANCING OF PREVIOUS DEBT 0 0 0 B ECONOMICAL DEVELOPMENT AUTHORITY OF ALBERMARLE COUNTY VIRGINIA 521297503 01266WAK2 2012-12-12 38265602 BUILD NEW INDEPENDENT LIVING AND RENOVATIONS 0 0 0 C ECONOMICAL DEVELOPMENT AUTHORITY OF THE TOWN OF LOUSIA VIRGINIA 521372260 NONEAVAIL 2015-04-30 10000000 REFINANCE 2005 DEBT 0 0 0 D ECONOMICAL DEVELOPMENT AUTHORITY OF ALBERMARLE COUNTY VIRGINIA 521297503 NONEAVAIL 2015-04-30 5286215 REFINANCE 2005 DEBT 0 0 0 A 5425000 52700087 5709813 778998 52700087 14482 2012 1 1 1 1 B 38308430 1200084 1744327 765312 493734 36652062 1162634 2014 0 0 0 1 C 114462 10000000 152487 10000000 2015 1 0 1 1 D 59716 5286215 80608 5286215 2015 1 0 1 1 A 0 1 1 0 1 0 0.00010 0.00000 0.00010 0 0 1 B 0 1 1 0 0 0.01000 0.00000 0.01000 1 0 1 C 0 1 1 0 0 0.01000 0.00000 0.01000 0 0 1 D 0 1 1 0 1 1 0.01000 0.00000 0.01000 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 1 0 0 1 1 C 0 1 0 0 1 0 0 0 1 D 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 D 1 PART II, LINE 3 THE TOTAL PROCEEDS SHOWN ON PART II, LINE 3 FOR ALL THREE BOND ISSUES DIFFER FROM THE AMOUNTS SHOWN ON PART I, COLUMN (E) DUE TO THE INVESTMENT EARNINGS THAT ACCUMULATED BEFORE THE PROCEEDS OF THE BOND ISSUES WERE FULLY SPENT. PART II, LINE 4 THE SERIES 2005 BONDS, THE SERIES 2007 BONDS AND THE SERIES 2012A BONDS ARE SECURED BY A PARITY DEBT SERVICE RESERVE FUND PURSUANT TO THE TERMS OF THE INDENTURE OF TRUST DATED AS OF NOVEMBER 1, 1995 (THE "INDENTURE") BETWEEN WESTMINSTER-CANTERBURY OF THE BLUE RIDGE, INC. AND U.S. BANK, NATIONAL ASSOCIATION, AS BOND TRUSTEE. UPON THE ISSUANCE OF EACH SERIES OF BONDS, A PORTION OF THE BOND PROCEEDS OF THE APPLICABLE SERIES, WHICH IS REFLECTED IN THE LINE ITEM 4, PART II, ABOVE, WAS DEPOSITED INTO THE DEBT SERVICE RESERVE FUND TO FUND UP TO THE INCREASED DEBT SERVICE RESERVE REQUIREMENT. AS OF THE END OF THE FISCAL YEAR ENDED JUNE 30, 2014, FOR WHICH THIS SCHEDULE K IS PROVIDED, THE BALANCE IN THE DEBT SERVICE RESERVE FUND WAS $5,877,934. FORM 990, PART VI, SECTION B, LINE 11 THE BOARD OF TRUSTEES FINANCE COMMITTEE REVIEWED THE FORM 990 AND THE FORM WAS SENT TO THE ENTIRE BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD IS ASKED TO FILL OUT A CONFLICT OF INTEREST FORM AT THE BEGINNING OF EACH BOARD YEAR. FORM 990, PART VI, SECTION B, LINE 15 FOR THE CEO, A COMPENSATION STUDY IS PERFORMED EVERY THREE YEARS BY A CONSULTANT AND PROVIDED TO THE EXECUTIVE COMMITTEE FOR REVIEW ACTION. FOR ALL OTHER EMPLOYEES OF THE ORGANIZATION, A STUDY IS PERFORMED EVERY THREE YEARS BY A CONSULTANT. THE STUDY EVALUATES LIKE POSITIONS AGAINST THE MARKET TO ENSURE EXTERNAL COMPETITIVENESS. THIS REVIEW WAS LAST PERFORMED THIS YEAR. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONCLICT OF INTEREST POLICY, DISCLOSURE STATEMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. THE BUDGET, MONTHLY FINANCIAL STATEMENTS, AND THE AUDIT ARE POSTED ON EMMA. FORM 990, PART XI, LINE 9: LOSS ON BOND EXTINGUISHMENT -673,587. DEFERRED ACTUARIAL PENSION LOSS -639,264. INCREASE IN BENEFICIAL INTEREST IN NA OF FOUNDATION 28,525. TEMPORARILY RESTRICTED NA 76,471. INCREASE IN PERMANENTLY RESTRICTED NET ASSETS 50. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. WESTMINSTER-CANTERBURY OF THE BLUE RIDGE FOUNDATION 250 PANTOPS MOUNTAIN ROAD CHARLOTTESVILLE VA 22911 541882970 PROVIDED FINANCIAL SUPPORT FOR FELLOWSHIP FUNDS VA 501(C)(3) 509(A)(3) N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 1 WESTMINSTER CANTERBURY OF THE BLUE RIDGE FOUNDATION S 331293 ACTUAL PAYMENT