2015-10-27T07:12:32-05:00 2015-06-30 593070669 MOORE STEPHENS LOVELACE PA 311 PARK PLACE BLVD SUITE 100 CLEARWATER FL 33759 990 2014-07-01 590624420 PENNEY RETIREMENT COMMUNITY INC PENN 9042848200 P O BOX 555 PENNEY FARMS FL 320790555 TERESA SCOTT PRESIDENT 9042848200 2015-10-27 1 LAURIE PADYKULA CPA P00856069 7275314477 2014 2016-02-25 16:41:14Z TERESA SCOTT P O BOX 555 PENNEY FARMS FL 320790555 13456247 0 X WWW.PENNEYRETIREMENTCOMMUNITY.ORG X 1965 FL PENNEY RETIREMENT COMMUNITY SERVES SENIORS WHO DESIRE TO LIVE THE FINAL THIRD OF THEIR LIVES IN A CHRISTIAN ENVIRONMENT. PROGRAMS AND SERVICES, INCLUDING HEALTH CARE, ARE PROVIDED TO ENHANCE DAILY LIVING AND DIMINISH FEARS OF THE FUTURE. 17 17 241 258 0 0 682671 1597661 11185505 11437652 486519 368557 46983 52377 12401678 13456247 0 0 0 0 6120120 6072068 0 0 0 5954382 5749416 12074502 11821484 327176 1634763 38019362 38993823 26317502 25987270 11701860 13006553 PENNEY RETIREMENT COMMUNITY IS AN INCLUSIVE CHRISTIAN COMMUNITY SEEKING THE ABUNDANT LIFE IN RETIREMENT LIVING. 0 0 10541634 11490029 THE ORGANIZATION PROVIDES HOUSING, HEALTH CARE AND OTHER RELATED SERVICES THROUGH THE OPERATION OF A RETIREMENT COMMUNITY. THE COMMUNITY INCLUDES 289 APARTMENTS AND HOMES, A 20-BED ALZHEIMER'S HEALTHCARE CENTER, 55 INDEPENDENT LIVING UNITS OFFERING ASSISTIVE SERVICES AND A LICENSED SKILLED NURSING CENTER WITH A CAPACITY OF 40 RESIDENTS. THE COMMUNITY ALSO INCLUDES RECREATIONAL AMENITIES, INCLUDING A NINE-HOLE GOLF COURSE, INDOOR SWIMMING POOL, FITNESS CENTER, ART STUDIO, CRAFT FACILITIES, LIBRARIES AND DINING FACILITIES. 10541634 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 1 107 0 1 241 1 0 0 0 0 0 0 0 0 0 0 X 17 17 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X TERESA SCOTT 9042848200 PO BOX 555 PENNEY FARMS FL 32079 MICHAEL T HAMMOCK DIRECTOR/CHAIRMAN 2.00 X X 0 0 0 FRANCES L IRVINE DIRECTOR/CHAIRMAN 2.00 X X 0 0 0 VERNON K SMITH DIRECTOR/FIRST VICE CHAIR 2.00 X X 0 0 0 WALTER I JACOBY DIRECTOR/SECOND VICE CHAIR 2.00 X X 0 0 0 JAMES A CHESTER DIRECTOR/TREASURER 2.00 X X 0 0 0 CATHERINE G PARROTT DIRECTOR/SECRETARY 2.00 X X 0 0 0 MARGARET DODDS DIRECTOR 2.00 X 0 0 0 T KIPP GORDON CPA DIRECTOR 2.00 X 0 0 0 DAVID A MCINNES MD DIRECTOR 2.00 X 0 0 0 EDWIN RUSSELL MEGONEGAL DIRECTOR 2.00 X 0 0 0 DR WILLIAM L PROCTOR DIRECTOR 2.00 X 0 0 0 WARREN W STEVENSON DIRECTOR 2.00 X 0 0 0 JERRY K WILLIAMS DIRECTOR 2.00 X 0 0 0 LINDA E SABIN DIRECTOR 2.00 X 0 0 0 PEARL G BOLES DIRECTOR 2.00 X 0 0 0 ALISON E HICKMAN DIRECTOR 2.00 X 0 0 0 DAVID J QUIRK DIRECTOR 2.00 X 0 0 0 WILLIAM K WATERSTON DIRECTOR 2.00 X 0 0 0 GEORGE D WEST DIRECTOR 2.00 X 0 0 0 SUSAN PONDER-STANSEL DIRECTOR 2.00 X 0 0 0 WILLIAM D FISH CHIEF FINANCIAL OFFICER 40.00 X 95721 0 13825 TERESA SCOTT PRESIDENT 40.00 X 102978 0 4410 ROBERT R RIGEL PRESIDENT 40.00 X 76478 0 20393 275177 0 38628 1 0 0 0 JAMES DEAN MASONRY INC 3750 CR 315-A GREEN COVE SPRINGS FL 32043 CONSTRUCTION/RENOVATION 382646 CHANEY'S HOME IMPROVEMENT 116 N ORANGE AVE GREEN COVE SPRINGS FL 32043 CONSTRUCTION/RENOVATION 140460 2 1597661 1597661 HOUSING 623000 5147474 5147474 NURSING 623000 5140418 5140418 RESIDENTS SERVICE 623000 581471 581471 FOOD SERVICE 623000 568289 568289 11437652 168108 168108 200449 0 200449 200449 200449 OTHER INCOME 623000 52377 52377 52377 13456247 11490029 0 368557 313805 313805 4435386 4111373 324013 168300 165529 2771 775956 723405 52551 378621 331501 47120 55102 55102 420686 350449 70237 45526 45526 86795 60327 26468 1517043 1349058 167985 2384 2384 347378 347378 1889118 1817581 71537 226290 213343 12947 FOOD 519460 518320 1140 SUPPLIES 284324 284324 PHARMACY 189197 189197 MISCELLANEOUS 100353 30752 69601 65760 49097 16663 11821484 10541634 1279850 0 402332 494886 3313 1125 605020 1060944 120596 116087 49626329 24140058 25593308 25486271 11260634 11810101 34159 24409 38019362 38993823 959178 954205 17928293 18304670 3955000 3730000 3475031 2998395 26317502 25987270 X 9532203 10553101 891632 1191127 1278025 1262325 11701860 13006553 38019362 38993823 1634763 -330070 0 X X 0 1 X 1 0 X 859702 423362 436247 682671 1597661 3999643 9197976 9683534 10559207 11185505 11437652 52063874 10057678 10106896 10995454 11868176 13035313 56063517 0 229881 306801 853447 763545 432534 2586208 229881 306801 853447 763545 432534 2586208 53477309 188654 179905 145936 166171 168108 848774 188654 179905 145936 166171 168108 848774 35011 45458 42406 46983 52377 222235 10281343 10332259 11183796 12081330 13255798 57134526 0.93600 0.93510 0.01490 0.01400 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1278025 -15700 1262325 1142119 135906 1278025 1084710 57409 1142119 1111681 -26971 1084710 963628 148053 1111681 1.00000 0 0 1547620 1547620 42533446 20846822 21686624 4204849 2973682 1231167 1340414 319554 1020860 25486271 CASH AND CASH EQUIVALENTS 3341779 F U.S. GOVERNMENT AND AGENCY OBLIGATIONS 2322713 F DEBT SECURITIES 940181 F MUTUAL FUNDS - EQUITY SECURITIES 3139120 F MUTUAL FUNDS - DEBT SECURITIES 1767503 F BOND FUNDS 298805 F 11810101 DEPOSITS 292400 REFUNDABLE ENTRANCE FEES 271947 CHARITABLE ANNUITY OBLIGATION 376703 ACCRUED GIFT BONDS 2057345 2998395 12605147 -328828 -328828 12933975 522272 522272 13456247 11360148 0 11360148 461336 461336 11821484 PART V, LINE 4: THE COMMUNITY'S SPENDING POLICY OBJECTIVE IS TO PROTECT THE VALUE AND GROW THE ENDOWMENT FUNDS TO PROVIDE FUTURE CASH FLOWS FOR OPERATONS, GIFT BOND REDEMPTIONS AND OTHER STIPULATED PURPOSES. PART XI, LINE 4B - OTHER ADJUSTMENTS: RESIDENTS AID FUND OF PRC, LLC - TOTAL REVENUE 223,006. ASSOCIATION OF PRC RESIDENTS, LLC - TOTAL REVENUE 299,266. PART XII, LINE 4B - OTHER ADJUSTMENTS: RESIDENTS AID FUND OF PRC, LLC - TOTAL EXPENSES 159,956. ASSOCIATION OF PRC RESIDENTS, LLC - TOTAL EXPENSES 301,380. X X X 0 0 0 0 0 0 0 0 0 WARREN W STEVENSON PRC DIRECTOR 212411 BUSINESS RELATIONSHIP WITH DIRECTOR 0 FORM 990, PART VI, SECTION B, LINE 11 PER PRC POLICY, THE BOARD CHAIRMAN WILL REVIEW THE ENTIRE FORM 990 WITH ALL BOARD MEMBERS BEFORE IT IS FILED WITH THE IRS. THE CHAIRMAN WILL CONFIRM IN WRITING THAT THE 990 WAS REVIEWED. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ARE REQUIRED TO AFFIRM ANNUALLY IN WRITING THAT THEY ARE NOT AWARE OF ANY CONFLICTS OF INTEREST WITHIN THE ORGANIZATION. EMPLOYEES SIGN THAT THEY HAVE READ THE POLICY UPON HIRE. THE POLICY IS REVIEWED PERIODICALLY. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION'S COMPENSATION POLICY REQUIRES THE PRESIDENT'S COMPENSATION BE DETERMINED BY THE DIRECTORS USING COMPARABILITY DATA GATHERED FROM OTHER RETIREMENT COMMUNITIES. ALL DIRECTORS ARE INDEPENDENT WITH REGARD TO THE COMPENSATION AND THE DELIBERATION AND DECISION ARE DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE AT THE CORPORATE OFFICE UPON REQUEST. FORM 990, PART XII, LINE 2C OVERSIGHT OF THE AUDIT: THE ORGANIZATION'S AUDIT COMMITTEE IS RESPONSIBLE FOR THE SELECTION, MONITORING AND EVALUATION OF AN INDEPENDENT AUDIT FIRM AND OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS. THERE WAS NO CHANGE IN THIS PROCESS FROM THE PRIOR YEAR. ASSOCIATION OF PENNEY RETIREMENT COMMUNITY RESIDENTS LLC PO BOX 555 PENNEY FARMS FL 32079 273142533 SUPPORT THE RESIDENTS OF PENNEY RETIREMENT COMMUNITY FL 299266 288890 PENNEY RETIREMENT COMMUNITY RESIDENTS' AID FUND OF PENNEY RETIREMENT COMMUNITY LLC PO BOX 555 PENNEY FARMS FL 32079 SUPPORT THE RESIDENTS OF PENNEY RETIREMENT COMMUNITY FL 223006 253567 PENNEY RETIREMENT COMMUNITY