2014-05-09T14:38:28-05:00 2013-06-30 410746749 CLIFTONLARSONALLEN LLP 610 WGERMANTOWN PIKE STE400 PLYMOUTH MEETING PA 19462 990 2012-07-01 521381348 ANNAPOLIS LIFE CARE INC ANNA 4102667300 4000 RIVER CRESCENT DRIVE ANNAPOLIS MD 21401 DR EDGAR MALLICK 4102667300 2014-04-30 1 BERNADETTE O'TOOLE CPA P00229258 2156433900 2012 2015-11-30 17:44:51Z DR EDGAR MALLICK 4000 RIVER CRESCENT DRIVE ANNAPOLIS MD 21401 57223992 0 X WWW.GINGERCOVE.COM X 1988 MD TO OWN AND OPERATE A CONTINUING CARE COMMUNITY FOR PERSONS OVER THE AGE OF 60 16 16 306 50 5496 4496 339683 383266 18909540 19971849 1571327 1594614 289787 277331 21110337 22227060 150000 138343 0 0 9861640 10230056 0 0 0 11865738 12732218 21877378 23100617 -767041 -873557 98762806 100828825 102907528 102259378 -4144722 -1430553 OUR VISION - A PREMIER LIFE-CARE COMMUNITY COMMITTED TO QUALITY. OUR MISSION - TO PROVIDE RESIDENTS AN ABUNDANT LIFE. OUR VALUES - RESIDENT INDEPENDENCE, DIGNITY, SECURITY, STAFF EXCELLENCE, BUSINESS INTEGRITY, AND FISCAL PRUDENCE. 0 0 14014924 138343 14596751 INDEPENDENT LIVING - THE ORGANIZATION PROVIDES HOUSING, HEALTH CARE, AND RECREATIONAL ACTIVITIES FOR SENIOR CITIZENS WHO ARE STILL ABLE TO MAINTAIN AN ACTIVE LIFESTYLE. THERE WERE 236 INDEPENDENT LIVING UNITS AVAILABLE WITH AN AVERAGE OCCUPANCY RATE OF 92.8%. 907415 1439551 ASSISTED LIVING - THIS PROGRAM IS FOR SENIOR CITIZENS WHO MAY NEED ADDITIONAL HELP TO MAINTAIN A HEALTHY LIFESTYLE BUT WHO DO NOT REQUIRE SKILLED NURSING. THE ORGANIZATION HAS A 30 BED ASSISTED LIVING COMPLEX WHICH PROVIDED A TOTAL OF 11,046 LIFE CARE DAYS. 4859959 3935547 SKILLED NURSING - THE ORGANIZATION HAS A 61 BED COMPREHENSIVE CARE COMMUNITY HEALTH CENTER FOR RESIDENTS WHO REQUIRE A HIGH LEVEL OF SKILLED NURSING ASSISTANCE. TEMPORARY AND PERMANENT CARE DAYS TOTALED 18,832. 19782298 1 1 0 1 0 0 0 0 0 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 52 0 306 1 1 1 0 0 0 0 0 0 0 0 0 X 16 16 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MD X TIM ELLIOTT 4102667300 4000 RIVER CRESCENT DRIVE ANNAPOLIS MD 21401 DR RAYMOND HERZINGER 2.00 0.00 X 0 0 0 KEN DRIESSEN 2.00 0.00 X 0 0 0 BETSY COCKRILL BANNAT 5.00 0.00 X X 0 0 0 ANN M FLIGSTEN 2.00 0.00 X 0 0 0 FREDERICK GREGORY 2.00 0.00 X 0 0 0 GARY GEISEL 2.00 0.00 X 0 0 0 ROBERT M HOYT 5.00 0.00 X X 0 0 0 CHARLES R LARSON 5.00 0.00 X X 0 0 0 VALENTINE F LYNCH 2.00 0.00 X 0 0 0 ELLA BASSETT 2.00 0.00 X 0 0 0 PATRICIA S MCMANUS 2.00 0.00 X 0 0 0 JAMES E KOEHR 2.00 0.00 X 0 0 0 JEFFREY A NORRIS 2.00 0.00 X 0 0 0 ROBERT J PELRINE 5.00 0.00 X X 0 0 0 JAMES REINIG 2.00 0.00 X 0 0 0 HELEN STOUGH 2.00 0.00 X 0 0 0 DR EDGAR MALLICK 40.00 0.00 X 200207 0 5457 TIMOTHY ELLIOTT 40.00 0.00 X 124260 0 3281 WENDY FERRIS 40.00 0.00 X 133333 0 7876 DENISE BERT-HALL 40.00 0.00 X 120366 0 3796 FAYE HIGGINS 60.00 0.00 X 120937 0 1411 ADENIKE ADEWUNMI 56.00 0.00 X 120938 0 6940 SAMANTHA MCKENNA 52.00 0.00 X 104679 0 0 924720 0 28761 7 0 1 0 SELECT REHABILITATION PO BOX 809056 CHICAGO IL 60680 THERAPY SERVICES 778668 US FOOD SERVICES PO BOX 7780 PHILADELPHIA PA 19182 FOOD SUPPLIES 642200 WF HAISLIP JR CONSTRUCTION GOVERNORS BRIDGE RD DAVIDSONVILLE MD 21035 CONSTRUCTION SERVICES 343064 PAINTING AND CONTRACTING 1637 JOHN BROWN ROAD QUEENSTOWN MD 21658 LANDSCAPING SERVICES 267244 LAB STAFFING 41 RONDEAU RD HOLDEN MA 01522 TEMP STAFFING 182000 13 383266 383266 RESIDENT SERVICE FEES 621610 12579819 12579819 HEALTH CENTER FEES 621610 3995452 3995452 ENTRANCE FEES EARNED 621610 3324958 3324958 HOME HEALTH REVENUE 621610 71620 71620 19971849 1065023 5496 1059527 34274 825 33449 33449 33449 35481223 34951455 177 529768 -177 529591 529591 45473 44475 998 998 BEAUTY/BARBER SHOP 621610 126955 126955 CATERING INCOME 621610 64707 64707 GUEST MEALS 621610 51222 51222 242884 22227060 19971849 5496 1866449 138343 138343 333842 333842 8223780 7425792 797988 85477 64020 21457 713445 615456 97989 873512 785088 88424 47280 47280 56100 56100 39802 39802 1333 1333 91092 91092 1443902 1292206 151696 314768 314768 2606717 2389168 217549 488515 488515 9174 501 8673 2304684 2304684 3398672 3397636 1036 145120 145120 FOOD 1062969 1062969 BAD DEBT 268302 268302 MEDICAL SUPPLIES 215006 215006 MISCELLANEOUS 143998 143998 94784 44149 50635 23100617 19782298 3318319 0 600 600 2914607 3375340 1669745 895824 1094532 1908027 80985 124751 28790 64341 86050102 30280012 57567653 55770090 24825781 27392162 8851817 9506695 1215001 1466783 513295 324212 98762806 100828825 1178216 1225524 48913332 50635991 43331667 42555001 9484313 7842862 102907528 102259378 X -5635613 -2973324 1340741 1392621 150150 150150 -4144722 -1430553 98762806 100828825 X -873557 1955038 1632688 X X 0 1 X 1 0 X 720 57860 255542 339683 383266 1037071 16765644 17558473 18122436 18909540 20779596 92135689 93653 150284 139717 270113 242884 896651 16860017 17766617 18517695 19519336 21405746 94069411 0 0 0 94069411 575967 563937 508320 776504 1008205 3432933 575967 563937 508320 776504 1008205 3432933 26378 4709 25833 29373 86293 17462362 18335263 19051848 20325213 22413951 97588637 0.96390 0.95560 0.03520 0.04290 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 1333 1333 0 EXPLANATION OF LOBBYING ACTIVITIES: PART II-B, LINE 1: ANNAPOLIS LIFE CARE, INC IS A MEMBER OF INDUSTRY GROUP LIFESPAN NETWORK. THE ORGANIZATION PAID $6,667 IN DUES OF WHICH 20% WERE ALLOCATED TO LOBBYING EXPENSES. 3735917 3735917 75370091 27279518 48090573 6762426 3000494 3761932 181668 181668 55770090 TITAN MASTERS INTERNATIONAL FUND 1194270 F SILVER CREEK EARLY ADVANTAGE FUND 123061 F ATTALUS ENHANCED INDEX 1974496 F COLLINS CAPITAL LOW VOLATILITY PERFORMANCE 157831 F PINE GROVE ASSOCIATES 2732794 F WMS PARTNERS INCOME OPPORTUNITY FUND B 525216 F WMS PARTNERS FAIRMOUNT FUND 490982 F VALSTONE OPPORTUNITY INVESTMENTS III 183426 F VALSTONE OPPORTUNITY FUND IV 1121336 F IRONSIDES PARTNERSHIP FUND II 1003283 F 9506695 DEPOSITS 2478497 REFUNDS PAYABLE 507711 INTEREST RATE SWAP 4856654 7842862 X 25724519 1955038 1632688 3587726 22136793 90267 90267 22227060 23010350 825 825 23009525 91092 91092 23100617 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE CORPORATION IS A NOT-FOR-PROFIT ENTITY AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM INCOME TAXES ON RELATED ACTIVITIES PURSUANT TO SECTION 509(A) OF THE INTERNAL REVENUE CODE. THE CORPORATION FOLLOWS THE PROVISIONS OF ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN A COMPANYS FINANCIAL STATEMENTS, INCLUDING NOT-FOR-PROFIT CORPORATIONS, AND PRESCRIBES A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD HAS BEEN MET. THE STANDARDS ALSO PROVIDE GUIDANCE ON DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, AND DISCLOSURE. MANAGEMENT HAS DETERMINED THAT THIS STANDARD DOES NOT HAVE A MATERIAL IMPACT ON THE FINANCIAL STATEMENTS. THE CORPORATIONS TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. THE TAX RETURNS FOR THE YEARS 2010 TO 2012 ARE OPEN TO EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED GAIN ON INTEREST RATE SWAP CHANGE IN INTEREST IN SUBSIDIARY PART XI, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT MANAGEMENT FEES - NETTED WITH REV ON FS RENTAL EXPENSE - NETTED WITH REVENUE ON 990 PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE - NETTED WITH REVENUE ON 990 PART XII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT MANAGEMENT FEES - NETTED WITH REV ON FS 0 GINGER COVE FOUNDATION 4000 RIVER CRESENT DRIVE ANNAPOLIS MD 21401 113656031 501(C)(3) 138343 DEBT FORGIVENESS 1 0 SCHEDULE I, PART I, LINE 2 PROCEDURE FOR MONITORING GRANTS TO ORGANIZATIONS IN THE US: THE ORGANIZATION FORGIVES THE DEBT OF ITS RELATED ORGANIZATION IN THE AMOUNT OF $1 FOR EVER $2 TRANSFERRED FROM THE RELATED ORGANIZATION FOR THE BENEFIT OF GINGER COVE. X X X 0 0 0 0 0 0 0 1 0 DR EDGAR MALLICK 186207 0 14000 0 0 0 0 0 5457 0 205664 0 0 0 PART I, LINE 7 THE EXECUTIVE DIRECTOR AND OTHER KEY EMPLOYEES ESTABLISH GOALS AND OBJECTIVES FOR THE UPCOMING YEAR. THESE GOALS AND OBJECTIVES ARE REVIEWED ANNUALLY AND THE ACCOMPLISHMENT OF THESE GOALS IS TAKEN INTO CONSIDERATION WHEN DETERMINING BONUSES. THE BONUS RANGE IS 3% TO 7% FOR DIRECTORS WITH A HIGHER RANGE FOR THE EXECUTIVE DIRECTOR. A MARYLAND HEALTH AND HIGHER EDUCATION FACILITIES AUTHORITY 520936091 2009-11-04 30000000 REFINANCING PRIOR BOND ISSUE 0 0 0 B MARYLAND HEALTH AND HIGHER EDUCATION FACILITIES AUTHORITY 520936091 2010-01-04 15266180 REFINANCING PRIOR BOND ISSUE 0 0 0 A 1872414 30000000 272028 29727972 2009 1 0 1 1 B 838765 15266180 140136 15126044 2010 1 0 1 1 A 0 1 1 1 0 0.00300 0.00300 1 0 1 B 0 1 1 1 0 0.00300 0.00300 1 0 1 A 1 1 1 CITIZENS BANK 10.000000000000 1 0 0 0 1 B 1 1 1 CITIZENS BANK 10.000000000000 1 0 0 0 1 A 1 B 1 FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE SHALL BE FULLY AUTHORIZED TO CARRY OUT ALL POWERS OF THE BOARD OF DIRECTORS BETWEEN MEETINGS OF THE BOARD, PROVIDED THEIR ACTIONS AND DECISIONS COULD NOT REASONABLY HAVE BEEN DEFERRED UNTIL THE NEXT MEETIOG OF THE BOARD. ACTIONS OF THE EXECUTIVE COMMITTEE SHALL BE REPORTED TO THE NEXT REGULAR OR SPECIAL MEETING OF THE BOARD OF DIRECTORS. ACTIONS OF THE EXECUTIVE COMMITTEE WHICH ARE WITHIN THE AUTHORITY OF THE EXECUTIVE COMMITTEE SHALL NOT REQUIRE RATIFICATION BY THE BOARD OF DIRECTORS, BUT ANY ACTIONS OF THE EXECUTIVE COMMITTEE MAY BE MODIFIED AT A MEETING OFTHE BOARD OF DIRECTORS BY VOTE OF A MAJORITY OF THE MEMBERS OF THE BOARD OF DIRECTORS PRESENT AND CONSTITUTING AT LEAST A QUORUM. HOWEVER, ANY SUCH MODIFICATIONS SHALL NOT AFFECT THE RIGHTS OF ANY THIRD PERSONS. FORM 990, PART VI, SECTION B, LINE 11 THE ANNAPOLIS LIFE CARE FINANCE COMMITTEE CHAIRMAN, CHIEF FINANCIAL OFFICER, EXECUTIVE DIRECTOR/CEO, AND DIRECTOR OF FINANCIAL SERVICES PERFORM AN INITIAL REVIEW OF THE FORM 990. THE APPROVED FORM IS THEN REPORTED TO THE FINANCE & AUDIT COMMITTEE AND ALL BOARD MEMBERS RECEIVE A COPY OF THE RETURN BEFORE THE FORM IS SUBMITTED TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ANNAPOLIS LIFE CARE HAS A CONFLICT OF INTEREST POLICY FOR ALL BOARD MEMBERS OF WHICH THE CONFLICT OF INTEREST STATEMENT IS UPDATED ANNUALLY. THIS POLICY ALSO APPLIES TO ADVISORY MEMBERS OF BOARD COMMITTEES. ANY ACTUAL OR POTENTIAL CONFLICTS ARE EXPECTED TO BE DISCLOSED. THE PRESIDENT AND SECRETARY OF THE BOARD AND ALL CHAIRMEN OF STANDING BOARD COMMITTEES WILL RECEIVE ALL ANNUAL CONFLICT OF INTEREST STATEMENTS. IF AN ACTUAL OR POTENTIAL CONFLICT WERE TO EXIST, THE INTERESTED PARTY WOULD ABSTAIN FROM ALL DISCUSSIONS AND DECISIONS ON THE CONFLICT. ANY TRANSACTIONS OR EVENTS THAT VIOLATE THE CONFLICT OF INTEREST POLICY MAY ALSO BE REVIEWED BY LEGAL COUNSEL. FAMILY AND BUSINESS RELATIONSHIPS WHICH MAY POSE A CONFLICT ARE EXPRESSLY CONSIDERED IN THE POLICY AND THE ANNUAL STATEMENT. FORM 990, PART VI, SECTION B, LINE 15 A THREE MEMBER COMMITTEE FROM THE ANNAPOLIS LIFE CARE BOARD OF DIRECTORS COMPILES RESULTS OF PERFORMANCE EVALUATIONS COMPLETED BY EACH BOARD MEMBER, REVIEWS THE CURRENT COMPENSATION STRUCTURE FOR THE EXECUTIVE DIRECTOR, REVIEWS INDUSTRY SALARY SURVEY DATA FOR THE REGION AND NATIONALLY, AND MAKES RECOMMENDATIONS TO BOTH THE EXECUTIVE COMMITTEE AND THE FULL BOARD OF DIRECTORS. THIS PROCESS IS COMPLETED ANNUALLY. OTHER KEY EMPLOYEES ARE REVIEWED BY THE EXECUTIVE DIRECTOR ANNUALLY ON A VARIETY OF STRATEGIC MEASURES. INCREASES AND/OR BONUSES ARE DETERMINED BASED ON THE RESULTS OF THE ANNUAL REVIEW. ALL COMPENSATION ADJUSTMENTS ARE MEASURED AGAINST INDUSTRY STANDARDS TO ENSURE COMPENSATION IS SET WITHIN FAIR MARKET RANGE FOR THE INDUSTRY. FORM 990, PART VI, SECTION C, LINE 19 THE BYLAWS AND FINANCIAL STATEMENTS ARE LOCATED IN THE GINGER COVE LIBRARY FOR PUBLIC REVIEW AND THE CONFLICT OF INTEREST POLICY IS AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: CHANGE IN INTEREST OF SUBSIDIARY 251,782. UNREALIZED GAIN OR LOSS ON DERIVATIVES 1,380,906. AUDIT OVERSIGHT FORM 990, PAGE 12, PART XII, QUESTION 2C THE FINANCE & AUDIT COMMITTEE APPOINTS AN AUDIT SUB-COMMITTEE WHICH PROVIDES REGULAR REPORTS TO THE FINANCE & AUDIT COMMITTEE AND TO THE FULL BOARD OF DIRECTORS. AUDITORS MEET WITH THE FINANCE & AUDIT COMMITTEE ANNUALLY TO REVIEW THE AUDIT REPORT IN DETAIL. AUDITORS ALSO MEET WITH THE APPOINTED AUDIT CUB-COMMITTEE SEPARATELY ON SEVERAL OCCASIONS TO DISCUSS THE AUDIT. ANNAPOLIS LIFE CARE PERIODICALLY OBTAINS PROPOSALS FOR ALL AUDIT FIRMS THAT ARE BEING CONSIDERED. GINGER COVE HOME HEALTH CARE LLC 4000 RIVER CRESCENT DRIVE ANNAPOLIS MD 21401 521381348 HOME HEALTH CARE SERVICES MD 71620 1541 ANNAPOLIS LIFE CARE INC GINGER COVE FOUNDATION INC 4000 RIVER CRESCENT DRIVE ANNAPOLIS MD 21401 113656031 TO SUPPORT AFFILIATED ORGANIZATIONS MD 501(C)(3) LINE 11C, III-FI ANNPOLIS LIFE CARE INC 1 0 1 1 0 0 0 0 0 0 0 0 1 0 1 1 1 1 0 0 GINGER COVE HOME HEALTH CARE LLC P 136258 COST GINGER COVE FOUNDATION INC B 138343 COST GINGER COVE FOUNDATION INC C 276687 COST