2015-05-08T13:25:50-05:00 2014-06-30 410746749 CLIFTONLARSONALLEN LLP 610 W GERMANTOWN PIKE STE 400 PLYMOUTH MEETING PA 19462 990 2013-07-01 231611427 LUTHERAN COMMUNITY AT TELFORD INC LUTH 2157239819 12 LUTHERAN HOME DRIVE TELFORD PA 18969 JOHN DUBYK CFO 2157239819 2015-05-07 1 JAMES D WATSON P01450300 2156433900 2013 2016-02-25 16:41:14Z DAN MCKEE 12 LUTHERAN HOME DRIVE TELFORD PA 18969 23146068 0 X WWW.LCTELFORD.ORG X 1958 PA TO PROVIDE HEALTHCARE SERVICES FOR LUTHERAN COMMUNITY OF TELFORD RETIREMENT COMMUNITY RESIDENTS. 16 16 405 154 0 0 366416 285392 18518287 19823972 310948 494487 173851 252505 19369502 20856356 0 0 0 0 10278009 10509966 0 0 39406 9234785 9639009 19512794 20148975 -143292 707381 64732604 65505230 53459605 56527619 11272999 8977611 TO PROVIDE PROGRESSIVE LEVELS OF CARE INCLUDING PERSONAL CARE AND SKILLED NURSING IN A SECURE CHRISTIAN ENVIRONMENT. 0 0 8190350 7933256 OUR 75-BED HEALTHCARE NEIGHBORHOOD IS LICENSED BY THE PENNSYLVANIA DEPARTMENT OF HEALTH. IT IS BOTH A MEDICARE AND MEDICAID APPROVED FACILITY. AT THE LUTHERAN COMMUNITY AT TELFORD (LCT), OUR PHILOSOPHY OF "PERSON-CENTERED CARE", ALLOW RESIDENTS TO LIVE IN SMALL NEIGHBORHOODS AND FORM CLOSE RELATIONSHIPS WITH EACH OTHER AND WITH STAFF. THEY NOT ONLY RECEIVE EXPERT CARE FROM PEOPLE WHO REALLY KNOW THEM, THEY ALWAYS HAVE A VOICE AND CHOICE IN DIRECTING THEIR CARE. OVER THE PAST TWO YEARS, THE LCT HAS HAD MEDICAID CONTRACTUAL ALLOWANCES OF $1.7M IN 2014 AND 2013. 3654007 3779572 LUTHERAN COMMUNITY AT TELFORD IS LICENSED BY THE DEPARTMENT OF PUBLIC WELFARE FOR PERSONAL CARE FOR 125 RESIDENTS. OUR PERSONAL CARE IS DESIGNED FOR THE RESIDENT WHO REQUIRES ASSISTANCE WITH ACTIVITIES OF DAILY LIVING INCLUDING MEDICATION ADMINISTRATION. LCT'S ENVIRONMENT ENCOURAGES INDEPENDENCE, WHILE OFFERING CARE AND SUPPORT APPROPRIATE TO INDIVIDUAL NEEDS. LCT OFFERS A PERSONAL CARE MEMORY SUPPORT, OFFERS A STIMULATING ENVIRONMENT FOR 24 RESIDENTS THAT ENSURES A SENSE OF SECURITY AND STABILITY. LCT ALSO OFFERS PERSONAL CARE SUITES AND PERSONAL CARE STUDIOS THAT WILL MEET THE NEEDS OF ALL OUR RESIDENTS. BENEVOLENT CARE IS AVAILABLE FOR THOSE RESIDENTS WHOSE FUNDS HAVE BEEN DEPLETED. LCT HAS GRANTED NEARLY $1 MILLION OF BENEVOLENT CARE OVER THE LAST THREE YEARS. 5753959 8111144 RESIDENTIAL LIVING AT LUTHERAN COMMUNITY AT TELFORD PROVIDES YOU WITH A NEWFOUND SENSE OF FREEDOM, MAINTENANCE FREE LIFESTYLE WHERE YOU GET TO RELAX AND CELEBRATE LIFE WITHOUT THE BURDEN OF HOME MAINTENANCE AND THE SECURITY. LCT HAS 185 APARTMENTS OF VARYING STYLES IN OUR THREE APARTMENT BUILDINGS: LUTHER VILLAGE, HARBINGER TERRACE AND THE MEADOWS FOR ALMOST ANY BUDGET; AS WELL AS 65 COTTAGE STYLE HOMES THROUGHOUT OUR 50 ACRE CAMPUS. BENEVOLENT CARE IS ALSO AVAILABLE FOR THOSE RESIDENTIAL / INDEPENDENT RESIDENTS WHOSE FUNDS HAVE BEEN DEPLETED. 17598316 1 1 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 49 0 405 1 0 0 0 0 0 0 0 0 0 0 X 16 16 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X JOHN DUBYK 2157239819 12 LUTHERAN HOME DRIVE TELFORD PA 18969 DAVID ALBURGER DIRECTOR 1.00 X 0 0 0 JUNE BAIR DIRECTOR 1.00 X 0 0 0 MARILYNNE BAGOSY DIRECTOR 1.00 X 0 0 0 REV MUKESH CHEEDIE DIRECTOR 1.00 X 0 0 0 WILLIAM CRESSMAN TREASURER 2.00 X X 0 0 0 JOANNE FABIAN DIRECTOR 1.00 X 0 0 0 DR STUART FINE DIRECTOR 1.00 X 0 0 0 MARGARET FITZGERALD DIRECTOR 1.00 X 0 0 0 LINDA GARCIA DIRECTOR 1.00 X 0 0 0 MARY ANN HIMMELSBACH SECRETARY 2.00 X X 0 0 0 JOHN LINDSAY DIRECTOR 1.00 X 0 0 0 REV DAVID LUTCHER DIRECTOR 1.00 X 0 0 0 REV ROBERT MITMAN DIRECTOR 1.00 X 0 0 0 WILLIAM MORRAL CHAIR 2.00 X X 0 0 0 FREDERICK SCHEA VICE CHAIR 2.00 2.00 X X 0 0 0 JUDITH WILLIAMS DIRECTOR 1.00 X 0 0 0 WILLIAM GROFF DIRECTOR 1.00 X 0 0 0 PHILIP C JACKSON DIRECTOR 1.00 2.00 X 0 0 0 BRENDAN MCGILL DIRECTOR 1.00 X 0 0 0 CLIFF NEBELONG DIRECTOR 1.00 X 0 0 0 ELLEN SHRAGER VP OPERATIONS 40.00 X 145875 0 11239 JOHN DUBYK VP FINANCE 40.00 X 53971 0 21 DAN MCKEE PRESIDENT & CEO 40.00 X 167233 0 15779 THEODORE G LEISTER HEALTHCARE ADMINISTRATOR 40.00 X 106235 0 17030 473314 0 44069 3 0 1 0 CURA HOSPITALITY PO BOX 644091 PITTSBURGH PA 15264 FOOD SERVICE 1439322 G B BUILDERS 1010 PENNY ROAD GREEN LANE PA 18054 CONSTRUCTION 320213 C&S LAWN & LANDSCAPE INC 562 MELVIN ROAD TELFORD PA 18969 LANDSCAPING 273492 GENESIS REHAB SERVICES 6549 PAYSPHERE CIRCLE CHICAGO IL 60674 REHABILITATION 226546 SELECT REHABILITATION INC PO BOX 809056 NORTHFIELD IL 60680 REHABILITATION 179071 6 200000 85392 285392 INDEPENDENT LIVING 623990 8111144 8111144 SKILLED NURSING 623990 7756678 7756678 PERSONAL CARE 623990 3779572 3779572 ADMISSION FEES 900099 90353 90353 PHARMACY 900099 86225 86225 19823972 377425 377425 13632 2904 10728 10728 10728 1805803 594854 1560810 722785 244993 -127931 117062 117062 52612 3213 49399 49399 INCONTINENT REVENUE 900099 104151 104151 NON-RESIDENT MEALS 900099 49000 49000 39227 39227 192378 20856356 19823972 0 746992 473864 71329 363129 39406 8413346 7423675 989671 99152 99152 877337 664477 212860 646267 547462 98805 7307 7307 34000 34000 66043 66043 537757 455241 82516 110404 110404 76026 76026 71038 71038 1051139 1051139 8963 8963 1798839 1798839 2623903 2623903 380965 166690 214275 FOOD 883258 883258 MAINTENANCE & SERVICE S 790183 790183 OUTSIDE CONSULTANT 600101 600101 MISCELLANEOUS 599083 522019 77064 20148975 17598316 2511253 39406 361237 1975538 1534696 205225 58559 1188071 1455287 252423 261496 76228009 30537145 46441292 45690864 11233183 12319341 3436872 3823750 64732604 65505230 1390299 1547144 14857334 18383944 1419537 1610001 34141960 33477750 1650475 1508780 53459605 56527619 X 11254443 8977611 18556 0 11272999 8977611 64732604 65505230 X 707381 811609 -3923264 108885 X X 0 1 X 1 0 X 431283 668241 945554 366416 285392 2696886 15668915 16266866 17403743 18554123 19823972 87717619 16100198 16935107 18349297 18920539 20109364 90414505 0 0 0 90414505 390823 299996 298401 309357 391057 1689634 390823 299996 298401 309357 391057 1689634 32515 33184 52612 118311 124874 122759 274313 129546 192378 843870 16615895 17357862 18954526 19392626 20745411 93066320 0.97150 0.97080 0.01820 0.02110 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 18556 18556 387127 131429 500000 18556 387127 387127 1.00000 0 0 11006131 11006131 59524031 26807388 32716643 5678002 3729757 1948245 19845 19845 45690864 NET DEFERRED FINANCING COSTS 593503 ESCROW FUNDS 1651535 DEBT SERVICE FUND 1578712 3823750 ACCRUED COMPENSATION 714527 FAIR VALUE OF INTEREST RATE SWAP 794253 1508780 X 21908338 811609 175582 987191 20921147 66044 -130835 -64791 20856356 20280462 134048 134048 20146414 66044 -63483 2561 20148975 PART IV, LINE 2B: THE ORGANIZATION HAS ESCROW FUNDS THAT REPRESENT THE REFUNDABLE ENTRANCE FEES OF RESIDENTS WHO HAVE PERMANENTLY MOVED FROM AN APARTMENT UNIT INTO THE NURSING OR PERSONAL CARE FACILITY. THESE FUNDS ARE RETAINED AS SECURITY FOR THE PAYMENT OF THE RESIDENTS' CHARGES AND ARE REFUNDED IF NOT NEEDED. AS OF JUNE 30, 2014 AND 2013, ESCROW FUNDS ARE $1,418,990 AND $1,246,845, RESPECTIVELY, AND ARE SHOWN ARE BOTH A NON-CURRENT ASSET AND A LONG-TERM LIABILITY. DEPOSITS ON UNOCCUPIED UNITS IN AMOUNTS RANGING BETWEEN $4,960 AND $31,500 PER UNIT ARE COLLECTED BY THE ORGANIZATION UPON EXECUTION OF A CONTINUING CARE AGREEMENT. EACH DEPOSIT REPRESENTS 10% OF THE TOTAL ENTRANCE FEE, WHICH IS REFUNDABLE THROUGH THE FIRST MONTH OF OCCUPANCY. THE BALANCE OF THE ENTRANCE FEE IS DUE UPON OCCUPANCY OF THE APARTMENT. MANAGEMENT ALSO COLLECTS A $1,000 REFUNDABLE DEPOSIT FROM PROSPECTIVE RESIDENTS PLACED ON A WAITING LIST. AT JUNE 30, 2014 AND 2013 DEPOSITS FOR THOSE ON WAITING LISTS ARE $106,000 AND $107,000, RESPECTIVELY. PART V, LINE 4: TO SUBSIDIZE OPERATIONS TO PROVIDE HEALTHCARE SERVICES FOR LUTHERAN COMMUNITY AT TELFORD RESIDENTS. PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM STATE INCOME TAXES UNDER THE COMMONWEALTH OF PENNSYLVANIA STATUTES. THE ORGANIZATION FOLLOWS THE PROVISIONS OF THE INCOME TAX ACCOUNTING STANDARDS REGARDING THE RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. IT IS THE ORGANIZATION'S POLICY TO ACCOUNT FOR ANY INTEREST OR PENALTIES ASSESSED RELATING TO UNCERTAIN TAX POSITIONS, IF ANY, AS GENERAL AND ADMINISTRATIVE EXPENSES. THE ORGANIZATION DID NOT INCUR ANY INTEREST OR PENALTIES FOR THE YEARS ENDED JUNE 30, 2014 OR 2013. THE APPLICATION OF THESE PROVISIONS HAS NO IMPACT ON THE ORGANIZATION'S FINANCIAL STATEMENTS. THE ORGANIZATION'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. THE TAX RETURNS FOR THE YEARS 2011 TO 2013 ARE OPEN TO EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN FAIR VALUE OF INTEREST RATE SWAP 172,369. FUNDRAISING EXPENSE 3,213. PART XI, LINE 4B - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF ASSETS - INCLUDED AS EXPENSE ON FS -127,931. RENTAL EXPENSE -2,904. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSS IN DISPOSAL OF FIXED ASSETS 127,931. RENTAL EXPENSE 2,904. FUNDRAISING EXPENSE 3,213. PART XII, LINE 4B - OTHER ADJUSTMENTS: OTHER RECONCILING ITEMS -63,483. CENTURY CLUB 49382 49382 1180 INDIAN VALLEY BEER FESTIVAL 3230 3230 2033 52612 52612 3213 3213 49399 X X 0 0 0 0 0 0 0 0 0 ELLEN SHRAGER VP OPERATIONS 145750 0 125 0 0 0 4372 0 6867 0 157114 0 0 0 DAN MCKEE PRESIDENT & CEO 167108 0 125 0 0 0 5246 0 10533 0 183012 0 0 0 A BUCKS COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 232174016 118612LMO 2007-11-15 14000000 REFI & NEW CONSTRUCTION 0 0 0 B BUCKS COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 232174016 118612LMO 2007-11-15 8955000 REFI & NEW CONSTRUCTION 0 0 0 C TELFORD INDUSTRIAL DEVELOPMENT AUTHORITY 232253252 2010-05-21 13745000 NEW CONSTRUCTION 0 0 0 A 1335000 13862556 989803 264840 4835858 7772055 2007 1 0 1 1 B 955000 8955000 169404 12350 3093222 5680024 2007 1 0 1 1 C 237852 13178799 120461 13058157 180 2010 0 0 0 1 A 0 0 1 1 0 0.01260 0.01260 0 0 1 B 0 0 1 1 0 0.01260 0.01260 0 0 1 C 0 0 1 1 0 0 0 1 A 1 0 1 CITIZEN'S BANK 10.000000000000 0 0 0 0 1 B 1 1 1 CITIZEN'S BANK 10.000000000000 0 0 0 0 1 C 0 0 0 0 1 0 0 0 1 A 1 B 1 C 1 FORM 990, SCHEDULE K, PART II, COLUMN C LINE OF CREDIT: TELFORD INDUSTRIAL DEVELOPMENT AUTHORITY 2010 CONSTRUCTION BONDS ACT AS A LINE OF CREDIT. NOT ALL FUNDS HAVE BEEN DRAWN DOWN YET, RESULTING IN LOWER PROCEEDS, AND USES FROM THE ISSUE PRICE. FORM 990, SCHEDULE K, PART II, COLUMN A ORIGINAL ISSUE DISCOUNT: BUCKS COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY SERIES A 2007 BONDS WERE ISSUED WITH AN ORIGINAL ISSUE DISCOUNT OF $137,444, RESULTING IN THE PROCEEDS AND USES BEING LESS THAN THE ISSUE PRICE. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THE CORPORATION SHALL BE 33 NATURAL PERSONS OF FULL AGE APPOINTED BY CERTAIN CONGREGATIONS. EACH CONGREGATION SHALL APPOINT TWO LAYPERSONS FROM ITS ACTIVE MEMBERSHIP AND ONE ORDAINED CLERGY UNDER CALL OR APPOINTED TO THE CONGREGATION AS MEMBERS OF THE CORPORATION. FORM 990, PART VI, SECTION A, LINE 7A THE DIRECTORS WILL BE ELECTED BY THE MEMBERS AT THE ANNUAL ORGANIZATIONAL MEETING OF THE CORPORATION. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS (THE GROUP OF 33) MUST APPROVE ANY LAND PURCHASE OR DEVELOPMENT AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTANT, AND REVIEWED BY THE CEO/PRESIDENT, CFO, AND BOARD OF DIRECTORS BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C ANNUAL STATEMENTS ARE DISTRIBUTED AT BOARD MEETING AND COMPLETED BY BOARD MEMBERS BY THE NEXT BOARD MEETING. THE DISCLOSURES ARE REVIEWED BY THE CEO AND IF THERE ARE ISSUES THEY ARE DISCUSSED AT SUBSEQUENT BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 15 AS OF THE 5/14/2009 BOARD MEETING, A COMPENSATION COMMITTEE WAS ESTABLISHED TO REVIEW EXECUTIVE SALARIES AS WELL AS OVERALL SALARY STRUCTURES. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE ON SWAP AGREEMENT 172,369. OTHER RECONCILING ITEMS -63,484. 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 RETIRMENT 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 ORGANIZATION ADOPTED ASU 2012-01. THE ADOPTION REQUIRES A RETROSPECTIVE APPLICATION TO THE EARLIEST PERIOD PRECEDING AND RESULTS IN AN ADJUSTMENT INCREASING THE LIABILITY FOR REFUNDABLE ENTRANCE FEES BY $3,923,264, REDUCING ENTRANCE FEE AMORTIZATION BY $272,170, AND DECREASING THE NET ASSETS BY $3,651,093 FOR THE YEAR ENDED JUNE 30, 2013. LUTHERAN COMMUNITY AT TELFORD FUND 12 LUTHERAN HOME DRIVE TELFORD PA 18969 232694179 FUNDRAISING ACTIVITIES FOR AFFILIATED NON-PROFIT ENTITIES PA 501(C)(3) LINE 11A, I LUTHERAN COMMUNITY AT TELFORD INC 1 0 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 LUTHERAN COMMUNITY AT TELFORD FUND C 200000 CASH