2015-11-13T07:03:15-06:00 2014-12-31 560747981 DIXON HUGHES GOODMAN LLP POST OFFICE BOX 25849 GREENVILLE SC 296165849 990 2014-01-01 570699090 WESTMINSTER PRESBYTERIAN CENTER INC WEST 8033285000 1330 INDIA HOOK ROAD ROCK HILL SC 297322412 DEBRA PEDERSEN CFO 8033285000 2015-11-10 1 AMY BIBBY P00445891 8642885544 2014 2016-04-25 22:37:26Z WESTMINSTER TOWERS DEBRA PEDERSEN 1330 INDIA HOOK ROAD ROCK HILL SC 297322412 15095453 0 X WWW.WESTMINSTERTOWERS.ORG X 1981 SC TO PROVIDE A CONTINUUM OF CARE TO MEET THE NEEDS OF OLDER ADULTS 14 13 430 0 0 0 64874 504871 13572471 13660029 467372 871588 0 0 14104717 15036488 0 0 0 0 7454607 8196558 0 0 7206 5615855 5633361 13070462 13829919 1034255 1206569 29863931 30160384 28233729 27474603 1630202 2685781 X WESTMINSTER TOWERS, AN EXTENSION OF THE MINISTRY OF WESTMINSTER PRESBYTERIAN CHURCH, WAS FOUNDED ON THE THEOLOGICAL PRINCIPLES AND VALUES OF THE PRESBYTERIAN CHURCH OF AMERICA.OUR MISSION IS TO PROVIDE SERVICES THAT INSPIRE, ENCOURAGE, AND ENPOWER SENIORS. WHILE DEMONSTRATING THE LOVE OF CHRIST TO SUPPORT INDIVIDUAL WELL-BEING. 0 0 11754526 13660029 WESTMINSTER PRESBYTERIAN CENTER, INC. (THE "CENTER") IS A CHARITABLE ORGANIZATION, WHICH OPERATES WESTMINSTER TOWERS, A CONTINUING CARE RETIREMENT COMMUNITY IN ROCK HILL, SOUTH CAROLINA ACCREDITED BY THE CONTINUING CARE ACCREDITATION COMMISSION. THE CENTER CONSISTS OF 133 INDEPENDENT LIVING APARTMENTS, A 29-UNIT ASSISTED LIVING CENTER, AND 66 SKILLED AND INTERMEDIATE CARE NURSING HOME BEDS. 11754526 1 1 0 0 0 0 0 0 0 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 1 0 0 0 0 0 1 0 0 0 1 9 0 1 430 1 0 0 0 0 0 0 0 0 0 0 X 14 13 0 0 0 0 0 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 SC X DEBRA PEDERSEN CFO 8033285120 1330 INDIA HOOK ROAD ROCK HILL SC 29732 JAMES BRIGHT CHAIR 2.00 X X 0 0 0 SIG HUITT VICE CHAIR 2.00 X X 0 0 0 RANDY IMLER TREASURER 2.00 X X 0 0 0 RION RUTLEDGE SECRETARY 2.00 X X 0 0 0 JOHN BARNES JR DIRECTOR 2.00 X 0 0 0 MANNING BIGGERS DIRECTOR 2.00 X 0 0 0 ROBERT BREAKFIELD DIRECTOR 2.00 X 0 0 0 DEBBIE GARRICK DIRECTOR 2.00 X 0 0 0 JOHN GABRENAS JR DIRECTOR 2.00 X 0 0 0 ROBERT HAYES DIRECTOR 2.00 X 0 0 0 MARSHA LEPHEW DIRECTOR 2.00 X 0 0 0 JOHN RINEHART DIRECTOR 2.00 X 0 0 0 MATT GRIFFIN DIRECTOR 2.00 X 0 0 0 JOHN LITTLE JR DIRECTOR 2.00 X 0 0 0 WILL MAULDIN DIRECTOR 2.00 X 0 0 0 ELVIN WALKER EMERITUS DIRECTOR 2.00 X 0 0 0 DEBRA PEDERSEN CFO 40.00 X 115796 0 1845 ANTHONY FOUNTAIN PRESIDENT/CEO 40.00 X 180153 0 6928 295949 0 8773 2 0 1 0 GENESIS REHABILITATION SERVICES PO BOX 821322 PHILADELPHIA PA 19170 REHAB 843405 1 12000 492871 504871 HEALTH CENTER FEES 623000 6340303 6340303 RESIDENT SERVICE FEES 623000 4983851 4983851 HOMEBRIDGE REVENUES 623000 1963177 1963177 ENTRANCE FEES 623000 371738 371738 CAMPUS HOME HEALTH 623000 960 960 13660029 494747 494747 435806 0 58965 435806 -58965 376841 376841 15036488 13660029 0 871588 295949 19817 268926 7206 6236388 5206053 1030335 13432 10746 2686 1175574 940459 235115 475215 380172 95043 12403 12403 35273 35273 581026 464821 116205 48330 48330 672442 603015 69427 453663 449126 4537 46766 37413 9353 792937 785008 7929 987613 977737 9876 116749 116749 MEDICAL SUPPLIES 1231783 1231783 DIETARY 648376 648376 BAD DEBT EXPENSE 6000 6000 13829919 11754526 2068187 7206 2059760 1491899 249000 993944 1041459 36925 35306 181579 133089 29405523 14892122 14241687 14513401 10981452 11323748 1368584 1372482 29863931 30160384 833307 898156 10721227 10528161 12373682 11603022 4138228 4099887 167285 345377 28233729 27474603 X 286231 971587 154485 386452 1189486 1327742 1630202 2685781 29863931 30160384 1206569 -150990 0 X X 0 1 X 1 0 X 49313 112098 83230 64874 504871 814386 11949831 12696913 13468432 13572471 13660029 65347676 11999144 12809011 13551662 13637345 14164900 66162062 12835 18326 24475 11495 136650 203781 0 12835 18326 24475 11495 136650 203781 65958281 356430 370961 430781 467372 494747 2120291 356430 370961 430781 467372 494747 2120291 12355574 13179972 13982443 14104717 14659647 68282353 0.96600 0.96910 0.03110 0.02960 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1442033 107674 30154 1579861 1258669 42099 141265 1442033 1130660 38170 89839 1258669 1059178 44548 26934 1130660 912486 38622 108070 1059178 0.13300 0.79050 0.07650 0 0 584841 584841 24973802 13285668 11688134 464964 247353 217611 2554778 1359101 1195677 827138 827138 14513401 RESIDENT DEPOSITS AND REFUNDS 345377 345377 X 14944463 -150990 -150990 15095453 -58965 -58965 15036488 13888884 58965 58965 13829919 0 13829919 PART V, LINE 4: THE ENDOWMENT FUND IS USED EXCLUSIVELY FOR THE FOLLOWING PURPOSES: 1. LONG-TERM HEALTH CARE FOR EXISTING RESIDENTS WITH FINANCIAL NEED 2. EXTENDED ASSISTANCE TO EXISTING RESIDENTS WITH NEED 3. ADMITTANCE ASSISTANCE FOR FUTURE RESIDENTS WHO CANNOT MEET THE FINANCIAL REQUIREMENTS 4. ADMITTANCE ASSISTANCE TO RETIRED MINISTERS AND MISSIONARIES DESIRING RESIDENCE IN THE TOWERS. ALL DONORS TO THE ENDOWMENT FUND RECEIVE A LETTER THANKING THEM FOR THEIR CONTRIBUTION AND OUTLINING ITS EFFECT. HALF OF THE INTEREST EARNED ON THE FUND IS AUTHORIZED FOR INDIGENT RESIDENTS. PART X, LINE 2: THE CENTER HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE AS A NOT-FOR-PROFIT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF INTERNAL REVENUE CODE (IRC) AND IS EXEMPT FROM FEDERAL INCOME TAXES PURSUANT TO SECTION 509(A)(2) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS INCLUDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE CENTER HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF DECEMBER 31, 2014. FISCAL YEARS ENDING ON OR AFTER DECEMBER 31, 2011, REMAIN SUBJECT TO EXAMINATION BY FEDERAL AND STATE TAX AUTHORITIES. PART XI, LINE 4B - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF ASSET NETTED IN EXPENSES ON FS -58,965. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF ASSET NETTED IN EXPENSES ON FS 58,965. X X X X 0 0 0 0 0 0 0 0 0 ANTHONY FOUNTAIN PRESIDENT/CEO 180153 0 0 0 0 0 0 0 6928 0 187081 0 0 0 A SC JOBS ECONOMIC DEVELOPMENT AUTHORITY 570960018 000837031 2005-12-20 14460000 FACILITY RENOVATIONS, REFUND BONDS ISSUED IN 1998 AND 2000 0 0 0 A 2700000 14474257 1034087 49141 828363 13072766 2009 1 1 1 1 A 0 0 0 0 0 0 0 A 0 0 0 1 0 0 0 0 1 A 0 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: SC JOBS ECONOMIC DEVELOPMENT AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 02/20/2014 SCHEDULE K, PART II, LINE 3, TOTAL PROCEEDS: AMOUNTS PRESENTED ON LINE 3 INCLUDE INVESTMENT EARNINGS TO DATE, AS FOLLOWS: PRIOR YEAR PROCEEDS: $ 14,358,522 INVESTMENT EARNINGS TO DATE: 59,031 TOTAL TO LINE 3: $ 14,417,553 AMOUNTS EARNED ANNUALLY IN THE BOND'S RESERVE FUNDS (REPORTED ON LINE 4) AND AMOUNTS EARNED ON PROJECT FUNDS BEFORE COMPLETION ARE INCLUDED AS PROCEEDS OF THE ISSUE. SCHEDULE K, PART II, LINE 11, OTHER SPENT PROCEEDS: AMOUNTS PRESENTED ON PART II, LINE 11 REPRESENT PROCEEDS USED TO REFUND PRIOR BONDS ISSUED IN 1998 AND 2000. COMPORIUM INC BOARD MEMBER JOHN BARNES, JR IS PART OWNER OF COMPORIUM, INC 148807 WESTMINISTER PRESBYTERIAN CENTER PURCHASED TELEPHONE SERVICE AND EQUIPMENT FROM COMPORIUM, INC 0 FORM 990, PART VI, SECTION A, LINE 7A WESTMINSTER PRESBYTERIAN CENTER IS AFFILIATED WITH WESTMINSTER PRESBYTERIAN CHURCH. THE GOVERNING BODY OF WESTMINSTER PRESBYTERIAN CHURCH MUST APPROVE THE ELECTION OR REMOVAL OF A BOARD MEMBER OF WESTMINSTER PRESBYTERIAN CENTER. FORM 990, PART VI, SECTION A, LINE 7B SEE RESPONSE TO LINE 7A ABOVE. FORM 990, PART VI, SECTION B, LINE 11 THE RETURN WAS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM WITH OVERSIGHT AND ASSISTANCE BY THE ADMINISTRATIVE STAFF OF THE ORGANIZATION. THE FORM 990 WAS FIRST REVIEWED BY THE CEO AND CFO. THEN THE FORM 990 WAS DISTRIBUTED TO THE FINANCE AND AUDIT COMMITTEE TO REVIEW. PRIOR TO FILING THE BOARD MEMBERS APPROVED THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION HAS A CONFLICT OF INTEREST POLICY THAT IS DISTRIBUTED BY THE CHAIRMAN OF THE BOARD, REVIEWED, ACCEPTED, AND SIGNED BY EACH VOTING BOARD MEMBER ON AN ANNUAL BASIS. PURSUANT TO THIS POLICY, EACH VOTING MEMBER WILL RECUSE THEMSELVES FROM ANY DISCUSSION AND VOTE FOR WHICH A CONFLICT EXISTS FOR THEMSELVES OR MEMBERS OF THEIR FAMILY. THE CHAIRMAN OF THE BOARD IS RESPONSIBLE FOR COLLECTING, ANALYZING, AND REPORTING THE RESULTS OF THE QUESTIONNIARES TO THE FULL BOARD. FORM 990, PART VI, SECTION B, LINE 15A COMPENSATION FOR THE CEO WILL BE DETERMINED BY THE EXECUTIVE COMMITTEE, AND ANY OTHER BOARD MEMBERS AS APPOINTED BY THE CHAIR AND RECOMMENDED TO THE BOARD OF DIRECTORS FOR APPROVAL. THE COMMITTEE WILL BE COMPOSED OF INDEPENDENT MEMBERS IN BOTH FACT AND APPEARANCE. DUTIES AND RESPONSIBILITIES OF THE COMMITTEE INCLUDE ASSESSING PROGRESS WITH RESPECT TO PERFORMANCE GOALS AND OBJECTIVES RELEVANT TO THE COMPENSATION OF THE CEO AND RECOMMENDING TO THE BOARD COMPENSATION FOR THE CEO. THE COMMITTEE WILL BE EDUCATED WITH ALL ASPECTS OF THE COMPENSATION PACKAGE, INCLUDING BENEFITS. THE COMMITTEE MAY USE INFORMATION FROM A VARIETY OF SOURCES IN DETERMINING COMPENSATION LEVELS. FORM 990, PART VI, SECTION C, LINE 18 PHOTOCOPIES OF THE FORM 990 ARE AVAILABLE UPON REQUEST AT THE ORGANIZATION'S ADMINISTRATIVE OFFICE. IN ADDITION, RECENT FILING OF THE FORM 990 ARE AVAILABLE ONLINE AT WWW.GUIDESTAR.ORG. FORM 990, PART VI, SECTION C, LINE 19 PHOTOCOPIES OF THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AT THE ORGANIZATION'S ADMINISTRATIVE OFFICE. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. WESTMINISTER PRESBYTERIAN CHURCH 1320 INDIA HOOK RD ROCK HILL SC 29732 RELIGIOUS ORGANIZATION SC 501(C)(3) LINE 1 N/A 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0