2015-05-07T07:39:36-05:00 2014-06-30 410746749 CLIFTONLARSONALLEN LLP 610 W GERMANTOWN PIKE STE 400 PLYMOUTH MEETING PA 19462 990 2013-07-01 232613942 RIDDLE VILLAGE RIDD 6108913777 1048 W BALTIMORE PIKE MEDIA PA 19063 ROBERT BERTOLETTE CEO PRESIDENT/CEO 6108913777 2015-04-27 1 JAMES D WATSON P01450300 2156433900 2013 2016-02-25 16:41:14Z ROBERT BERTOLETTE 1048 W BALTIMORE PIKE MEDIA PA 19063 26550365 0 X WWW.RIDDLEVILLAGE.COM X 1993 PA TO ENRICH THE VALUE OF RETIREMENT LIVING FOR RESIDENTS & LIVES OF THOSE WHO SUPPORT THEM. 9 9 486 41 0 0 103398 121058 26415152 26349671 147744 79636 0 0 26666294 26550365 0 0 0 0 11078833 11616120 0 0 0 15203117 15454932 26281950 27071052 384344 -520687 50758247 47884822 89717042 89590378 -38958795 -41705556 X TO ENRICH THE VALUE OF RETIREMENT LIVING FOR OUR RESIDENTS AND THE LIVES OF THOSE WHO SUPPORT THEM. 0 0 11957475 17030867 INDEPENDENT LIVING FACILITY, CONSISTING OF 365 UNITS, IS DESIGNED TO ALLOW EACH RESIDENT TO LIVE THEIR LIFE TO THE FULLEST WITHOUT THE CONCERNS ASSOCIATED WITH POSSIBLE FUTURE HEALTHCARE NEEDS. THE ORGANIZATION PROVIDE MEALS, HOUSEKEEPING, ACTIVITIES, WELLNESS, 24 HOUR NURSE AVAILABILITY AND A FITNESS CENTER THAT ENCOURAGES RESIDENTS TO REMAIN AS ACTIVE AS POSSIBLE. AS A CCRC, RIDDLE VILLAGE PROVIDES SUBSIDIES TO ANY RESIDENT WHO IS UNABLE TO MEET THEIR FINANCIAL OBLIGATIONS TO THE COMMUNITY. THE ORGANIZATION CURRENTLY HAS AT LEAST TWO RESIDENTS WHO ARE IN NEED OF THIS SUBSIDY WITH OTHERS REQUESTING ASSISTANCE RECENTLY DO TO THE DOWNTURN IN THE ECONOMY. RIDDLE VILLAGE HOSTS MANY COMMUNITY EVENTS, IS A VOTING CENTER DURING ELECTIONS AND SUPPORTS THE OVERALL COMMUNITY BY PARTICIPATING IN THE PAYMENT OF LOCAL, COUNTY AND SCHOOL TAXES. 3590831 5247864 PERSONAL CARE UNIT - CONSISTS OF 49 APARTMENTS BOTH STUDIO AND ONE-BEDROOMS. THERE WAS A RECENT EXPANSION AND REFURBISHING PROJECT FOR BOTH PERSONAL CARE UNIT AND SKILLED NURSING FACILITY TO ALLOW FOR A MORE HOME LIKE ENVIRONMENT, MORE GATHERING PLACES FOR RESIDENTS, FAMILY AND FRIENDS AND KITCHEN FACILITIES TO BETTER SERVE OUR RESIDENTS. IT IS OUR PHILOSOPHY THAT EACH RESIDENTS CARE, PHYSICAL AND EMOTIONAL HEALTH IS EQUALLY IMPORTANT. THIS UNIT CONSISTS OF BOTH LIFECARE RESIDENTS AND PRIVATE PAY RESIDENTS. ALL LIFECARE RESIDENTS ARE GUARANTEED CARE REGARDLESS OF THEIR ABILITY TO PAY FOR SUCH SERVICES. 7238676 4070940 SKILLED NURSING FACILITY - CONSISTS OF 86 SKILLED BEDS. THE FACILITY IS DESIGNED TO PROVIDE A HOME LIKE ATMOSPHERE TO ENSURE THAT RESIDENTS ARE COMFORTABLE IN ALL STAGES OF THEIR LIFE. THIS FACILITY ALSO CARES FOR LIFECARE RESIDENTS AND PRIVATE PAY RESIDENTS. WE ALSO PROVIDE FOR MEDICARE AND OTHER THIRD PARTY BILLING RESIDENTS. ALL LIFECARE RESIDENTS ARE GUARANTEED CARE REGARDLESS OF THEIR ABILITY TO PAY FOR SUCH SERVICES. 22786982 1 1 0 0 0 0 0 0 1 1 1 0 0 0 1 1 1 0 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 1 0 0 0 0 1 25 0 486 1 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X KIMBERLY ROGUSZEWSKI 6108913777 1048 WEST BALTIMORE PIKE MEDIA PA 19063 ARTHUR A BERNARDON DIRECTOR 1.00 X 0 0 0 DANIEL E KENNEDY CHAIR 1.00 X X 0 0 0 JOSEPH P BROOKS DIRECTOR 1.00 X 0 0 0 JOSEPH LUNDY ESQ DIRECTOR 1.00 X 0 0 0 ROBERT F FISCHER VICE CHAIR/TREASURER 1.00 X X 0 0 0 ROBERT L SUMNER DIRECTOR 1.00 X 0 0 0 JON D HELMS SECRETARY 1.00 X X 0 0 0 MARIA C BUCCO DIRECTOR 1.00 X 0 0 0 LEONARD MCCANDLESS DIRECTOR 1.00 X 0 0 0 ROBERT G BERTOLETTE PRESIDENT/CEO 40.00 X 234000 0 46446 KIMBERLY ROGUSZEWSKI VICE PRESIDENT/CFO/ASSIT S 40.00 X 187548 0 28332 RONALD WATERMAN VICE PRESIDENT OF OPERATIO 40.00 X 180989 0 30832 DONNA CAHILL DIRECTOR OF MARKETING 40.00 X 120311 0 17664 CARMEN GIDDINGS DIRECTOR OF NURSING 40.00 X 104749 0 25832 827597 0 149106 6 0 1 0 WEST CHESTER MECHANICAL 201 FULTON STREET CHESTER PA 19013 MECHANICAL SERVICE 2117597 REHAB CARE GROUP INC PO BOX 503534 ST LOUIS MO 631503534 PHYSICAL THERAPY 1095703 RUMFORD AND RUMFORD 400 W STATE STREET MEDIA PA 19063 CONTRACTORS 627025 C S LIGA PAINTING 223 EAST SECOND STREET MEDIA PA 19063 PAINTING/ REFURBISHING 407831 US SECURITY ASSOCIATES PO BOX 931703 ATLANTA GA 31193 SECURITY 181959 6 121058 121058 RESIDENT CARE 623000 12318267 12318267 NET PATIENT SERVICE REVENUE 623000 9320128 9320128 EARNED ENTRANCE FEE 623000 4672231 4672231 39045 39045 26349671 79636 79636 26550365 26349671 0 79636 662703 662703 8969611 8610037 359574 1260280 1193297 66983 723526 651173 72353 30000 30000 60000 60000 380329 380329 724589 724589 2723944 2451550 272394 58765 58765 1598503 1438653 159850 4268580 3841722 426858 978726 880853 97873 NURSING 1915866 1915866 0 DINING SERVICES 1596159 1596159 PLANT AND MAINTENANCE 643486 207672 435814 LOSS ON EXTINGUISHMENT 239849 239849 236136 236136 27071052 22786982 4284070 0 1187275 796895 2239115 4105633 3834332 130162 159687 1405548 1465243 97301712 69019415 28789637 28282297 11913389 12457748 987488 888620 50758247 47884822 1295303 1722642 37754275 38059712 47965000 46930000 973014 1289574 285714 142857 1443736 1445593 89717042 89590378 X -41180303 -44048122 691214 693855 1530294 1648711 -38958795 -41705556 50758247 47884822 X -520687 58922 -2283139 -1857 X X 0 1 X 1 0 X 50526 47426 1138619 103398 121058 1461027 24321791 25513077 26083204 26415152 26349671 128682895 24372317 25560503 27221823 26518550 26470729 130143922 0 0 0 130143922 297917 138153 104166 147744 79363 767343 297917 138153 104166 147744 79363 767343 24670234 25698656 27325989 26666294 26550092 130911265 0.99410 0.98990 0.00590 0.01010 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 1530294 69474 48943 1648711 1426896 103398 1530294 777704 649192 1426896 730278 47426 777704 679752 50526 730278 0.00000 1.00000 0.00000 0 0 61571567 35300010 26271557 5897402 5686410 210992 29832743 28032995 1799748 28282297 INTEREST RATE SWAP AGREEMENT 1445593 1445593 X 26607430 58922 -1857 57065 26550365 0 26550365 27071052 0 27071052 0 27071052 PART IV, LINE 2B: THE ORGANIZATION HAS BEEN HOLDING DEPOSITS RECEIVED FROM PROSPECTIVE RESIDENTS THAT ARE FULLY REFUNDABLE UNTIL THEY SIGN A RESIDENT AGREEMENT, AT WHICH TIME THE DEPOSITS ARE APPLIED TOWARD THE RESIDENTS' ENTRANCE FEE. PART V, LINE 4: THE VILLAGE HAS ESTABLISHED AN ENDOWMENT FUND TO PROVIDE A SOURCE FOR FINANCIAL ASSISTANCE TO RESIDENTS OF THE COMMUNITY WHO ARE ABLE TO DEMONSTRATE FINANCIAL NEED FOR THE COST OF CARE. PART X, LINE 2: FIN 48 FOOTNOTE: THE VILLAGE IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE; ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS REQUIRED. THE VILLAGE FOLLOWS THE PROVISIONS OF THE INCOME TAX STANDARD REGARDING THE RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. THE VILLAGE BELIEVES THAT THERE IS NO UNCERTAINTY IN THE TAX POSITIONS TAKEN BY THE VILLAGE AND THESE PROVISIONS HAVE NO IMPACT ON THE VILLAGE'S FINANCIAL STATEMENTS. THE VILLAGE'S INCOME 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. THE VILLAGE IS NOT AWARE OF ANY ACTIVITIES THAT ARE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME OR EXCISE OR OTHER TAXES. THE TAX RETURNS FOR THE YEARS 2011 TO 2013 ARE OPEN TO EXAMINATION BY FEDERAL, LOCAL, AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN FAIR VALUE OF INTEREST RATE SWAP AGREEMENTS -1,857. X X X X 0 0 0 0 0 0 0 0 0 ROBERT G BERTOLETTE PRESIDENT/CEO 234000 0 0 0 0 0 28782 0 17664 0 280446 0 0 0 KIMBERLY ROGUSZEWSKI VICE PRESIDENT/CFO/ASSIT S 168501 0 19047 0 0 0 2500 0 25832 0 215880 0 0 0 RONALD WATERMAN VICE PRESIDENT OF OPERATIO 159994 0 20995 0 0 0 5000 0 25832 0 211821 0 0 0 A DELAWARE COUNTY AUTHORITY 231973437 245913HK7 2006-10-01 45270000 TO PROVIDE FUNDS TO MAKE THE LOAN FOR PURPOSES OF PAYING CONSTRUCTION COSTS 0 0 0 B DELAWARE COUNTY AUTHORITY 231973437 2011-10-03 30000000 TO REFINANCE THE 2005 BONDS AND PARTIAL 2006 BONDS 0 0 0 C DELAWARE COUNTY AUTHORITY 231973437 2013-10-31 18610000 TO REFUND THE 2006 BONDS 0 0 0 A 45270000 45270000 492581 109792 8170709 36496918 2007 1 0 1 1 B 1460000 30000000 390000 29610000 2011 1 0 1 1 C 220000 18610000 18610000 1 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0 0 1 A 1 1 0 0 0 1 B 1 1 1 CITIZEN'S BANK OF PENNSYLVANIA 5.000000000000 0 0 0 0 1 C 1 1 1 CITIZEN'S BANK OF PENNSYLVANIA 5.000000000000 0 0 0 0 1 A 1 B 1 C 1 FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE SHALL HAVE AND EXERCISE THE AUTHORITY OF THE BOARD, TO THE EXTENT PERMITTED BY APPLICABLE LAW, BETWEEN MEETINGS OF THE BAORD. MEETINGS OF THE EXECUTIVE COMMITTEE MAY BE CALLED AT ANY TIME BY THE CHAIR OF COMMITTEE, BY THE CHAIR OF THE BOARD OR BY ANY TWO MEMBERS OF THE COMMITTEE. NOTICE OF SPECIAL MEETINGS OF THE EXECUTIVE COMMITTEE SHALL BE GIVEN AT LEAST TWO DAYS BEFORE SUCH MEETING, BUT WRITTEN NOTICE SHALL NOT BE REQUIRED. FORM 990, PART VI, SECTION A, LINE 7A ONE DIRECTOR SHALL BE NOMINATED BY THE RIDDLE HEALTH CARE FOUNDATION, AND PROVIDED THAT SUCH NOMINEE IS OTHERWISE QUALIFIED UNDER THESE BYLAWS AND APPLICABLE LAW, SUCH NOMINEE SHALL BE ELECTED BY THE BOARD TO SERVE FOR A TERM OF ONE YEAR, AND SHALL BE ELIGIBLE FOR SUCCEEDING ONE-YEAR TERMS WITHOUT LIMIT. AT ALL TIMES, A MAJORITY OF ALL OF THE DIRECTOS SHALL BE NON-RESIDENTS OF RIDDLE VILLAGE. NO DIRECTOR, EXCEPT THE DIRECTOR NOMINATED BY THE RIDDLE HEALTH CARE FOUNDATION, MAY SERVE MORE THAN TWO CONSECUTIVE FULL TERMS. FORM 990, PART VI, SECTION B, LINE 11 ALL MEMBERS OF THE BOARD REVIEW THE FORM PRIOR TO THE FILING THEREOF. FORM 990, PART VI, SECTION B, LINE 12C CURRENTLY, ALL MEMBERS OF THE BOARD REVIEW THE CONFLICT OF INTEREST STATEMENT ON AN ANNUAL BASIS. THEY CONFIRM THAT THEY HAVE NO SUCH CONFLICT IF APPROPRIATE. IF CONFLICT WERE TO EXIST, THE BOARD AS A WHOLE WOULD REVIEW EACH POTENTIAL CONFLICT AND DETERMINE THE APPROPRIATENESS OF THE ACTION. ANY BOARD MEMBER INVOLVED IN A CONFLICT WOULD BE UNABLE TO VOTE ON ANY ACTION, PURCHASE OR DECISION BEING MADE. IN ADDITION, EACH SENIOR MANAGEMENT REPRESENTATIVE SIGNS A SIMILAR STATEMENT. DIRECTORS WITH A POTENTIAL CONFLICT ARE EXCLUDED FROM DECISION MAKING IN THAT AREA. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION IS MAINLY DETERMINED BASED ON EXTERNAL SALARY SURVEYS. WORK PERFORMANCE AND EXPANDED JOB RESPONSIBLITIES ARE ALSO CONSIDERED. THE PRESIDENT/CEO USES THE TOOLS MENTIONED ABOVE TO DETERMINE THE SALARIES OF KEY EMPLOYEES. THE INFORMATION IS THEN SHARED WITH THE COMPENSATION COMMITTEE FOR DISCUSSION. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION MAKES ITS FORM 1023 AND FORM 990 AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. THE ORGANIZATIONS FINANCIAL STATEMENTS ARE DISTRIBUTED TO RESIDENTS & FILED WITH THE PA INSURANCE DEPARTMENT. THEY ARE ALSO MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN FAIR VALUE OF SWAP AGREEMENT -1,857. FORM 990, PART XI, LINE 2C THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART XI, LINE 8 IN JULY 2012, THE FINANCIAL REPORTING ACCOUNTING STANDARDS BOARD (FASB)ISSUED ACCOUNTING STANDARDS UPDATE (ASU) 2012-01 HEALTH CARE ENTITIES: CONTINUING CARE RETIREMENT COMMUNITIES REFUNDABLE ADVANCE FEES. THE AMENDMENTS IN THIS ASU CLARIFY THAT AN ENTITY SHOULD CLASSIFY AN ADVANCE FEE AS DEFERRED REVENUE WHEN A CONTINUING CARE RETIREMENT COMMUNITY HAS A RESIDENT CONTRACT THAT PROVIDES FOR PAYMENT OF THE REFUNDABLE ADVANCE FEE UPON REOCCUPANCY BY A SUBSEQUENT RESIDENT, WHICH IS LIMITED TO THE PROCEEDS OF REOCCUPANCY BY A SUBSEQUENT RESIDENT. THE AMENDMENTS ALSO CLARIFY THAT REFUNDABLE ADVANCE FEES THAT ARE CONTINGENT UPON REOCCUPANCY BY A SUBSEQUENT RESIDENT BUT ARE NOT LIMITED TO THE PROCEEDS OF REOCCUPANCY SHOULD BE ACCOUNTED FOR AND REPORTED AS A LIABILITY. THE AMENDMENTS IN THE ASU ARE EFFECTIVE FOR FISCAL PERIODS BEGINNING AFTER DECEMBER 15, 2012 FOR PUBLIC ENTITIES, AS DEFINED, WITH EARLY ADOPTION PERMITTED. DURING THE FISCAL YEAR ENDED JUNE 30, 2014, THE CORPORATION ADOPTED ASU 2012-01. THE ADOPTION REQUIRES A RETROSPECTIVE APPLICATION TO THE EARLIEST PERIOD PRECEDING AND RESULTS IN AN INCREASING THE LIABILITY FOR REFUNDABLE ENTRANCE FEES BY $2,283,139, REDUCING THE ENTRANCE FEE AMORTIZATION BY $302,831, AND DECREASING THE NET ASSETS BY $1,980,308 FOR THE YEAR ENDED JUNE 30, 2013. RELATED PARTY EXPLANATION RIDDLE VILLAGE LEASES THE LAND ON WHICH THEIR FACILITY IS SITUATED FROM RIDDLE HEALTHCARE FOUNDATION. THESE ENTITIES ALSO HAVE A BOARD MEMBER IN COMMON. RIDDLE HEALTHCARE FOUNDATION DOES NOT HAVE CONTROL OR AN ABILITY TO ELECT A MAJORITY OF THE BOARD MEMBERS OF RIDDLE VILLAGE. THEREFORE, THESE TWO PARTIES ARE NOT CONSIDERED RELATED. RIDDLE VILLAGE DEVELOPMENT LLC 1048 WEST BALTIMORE PIKE MEDIA PA 19063 262397145 IMPLEMENTING DEVELOPMENT OF ADDITIONAL FACILITIES PA 0 0 RIDDLE VILLAGE