2025-03-05T16:23:31-06:00 2024-06-30 410746749 CLIFTONLARSONALLEN LLP 600 WASHINGTON AVENUE SUITE 1800 ST LOUIS MO 63101 990 2023-07-01 311002846 WESTMINSTER VILLAGE WEST LAFAYETTE INC WEST 7654637546 2741 NORTH SALISBURY STREET WEST LAFAYETTE IN 47906 RICHARD BARHOLOMEW BOARD PRESIDENT 7654637546 2025-03-04 1 0 AMBER ROGNAN-HAMILTON P01251012 3149254300 2025-02-28 2023 2025-03-06 01:10:19Z BENJAMIN BLANKENSHIP 2741 NORTH SALISBURY STREET WEST LAFAYETTE IN 47906 40441004 0 X WWW.WVWL.ORG X 1976 IN PROVIDE FOR ELDERLY FAMILIES & ELDERLY PERSONS ON A NONPROFIT BASIS, HOUSING, RELATED FACILITIES & SERVICES 9 8 459 100 0 0 289580 80354 23755611 27628518 58607 1213527 651472 781703 24755270 29704102 0 0 0 0 12666203 15216927 0 0 0 14906299 17638845 27572502 32855772 -2817232 -3151670 100146650 98859459 109634885 110879967 -9488235 -12020508 X TO BE THE PREEMINENT COMMUNITY FOR LIVING WELL. 0 0 28230678 0 27628518 WESTMINSTER VILLAGE WEST LAFAYETTE, INC. IS A NOT-FOR-PROFIT, LIFE PLAN COMMUNITY LOCATED IN WEST LAFAYETTE, INDIANA. FACILITIES INCLUDE 110 RESIDENTIAL UNITS (INDEPENDENT LIVING CENTER), 53 INDEPENDENT LIVING COTTAGES, 54 HYBRID HOMES, A 72 BED COMPREHENSIVE CARE FACILITY (THE HEALTH CENTER), AND A 72 BED ASSISTED LIVING FACILITY. WESTMINSTER'S PRIMARY PURPOSE IS THE PROVISION OF CONTINUING CARE SERVICES TO THE CITIZENS OF WEST LAFAYETTE, INDIANA AND THE SURROUNDING COMMUNITIES. 0 0 0 THE VILLAGE PROVIDES CARE TO RESIDENTS WHO MEET CERTAIN CRITERIA UNDER ITS FINANCIAL ASSISTANCE POLICY WITHOUT CHARGE. THE KEY ELEMENT USED TO DETERMINE ELIGIBILITY IS THE RESIDENT'S INABILITY TO PAY THEIR MONTHLY CHARGES AS DOCUMENTED IN AN APPLICATION THAT REQUIRES THEM TO REPORT TOTAL MONTHLY INCOME AND TOTAL ASSETS AND IS APPROVED BY MANAGEMENT AND THE BOARD. BECAUSE THE VILLAGE DOES NOT PURSUE COLLECTION OF AMOUNTS DETERMINED TO QUALIFY FOR FINANCIAL ASSISTANCE, THEY ARE NOT REPORTED AS REVENUE. THE VILLAGE HAS ESTIMATED ITS DIRECT AND INDIRECT COSTS OF PROVIDING FINANCIAL ASSISTANCE UNDER ITS FINANCIAL ASSISTANCE POLICY. BECAUSE ALL OF THE FINANCIAL ASSISTANCE PROVIDED DURING THE PERIOD WHERE IN THE SKILLED NURSING SETTING, MANAGEMENT ESTIMATED THAT THE COST OF PROVIDING FINANCIAL ASSISTANCE IS APPROXIMATELY EQUAL TO THE RATES BEING FOREGONE. 0 0 0 CONSISTENT WITH THE MISSION STATEMENT OF THE VILLAGE, THE VILLAGE IS COMMITTED TO PROVIDING PROGRAMS, SERVICES AND CONTRIBUTIONS (BOTH IN KIND AND FINANCIAL) THAT TARGET THE RESIDENT POPULATION AT THE VILLAGE, AS WELL AS TO BENEFIT THE BROADER COMMUNITY. IN ADDITION TO THE FINANCIAL ASSISTANCE, THE VILLAGE PROVIDES COMMUNITY SERVICES THAT INCLUDE, BUT ARE NOT LIMITED TO EDUCATIONAL PROGRAMS, TRANSPORTATION AND CHURCH RELATIONS ALL TARGETED TOWARDS ENHANCING THE QUALITY OF LIFE OF THE RESIDENTS. THE COST OF THESE PROGRAMS AND SERVICES ARE INCLUDED IN OPERATING EXPENSES. 28230678 1 1 0 0 0 0 0 0 0 0 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 1 0 0 0 0 0 0 1 0 0 0 1 52 0 459 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 8 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 IN X JESSICA ARGERBRIGHT 7654637546 2741 NORTH SALISBURY WEST LAFAYETTE IN 47906 X SANDRA FIGHTS DIRECTOR (TERM END 7/23) 3.00 0.00 X 0 0 0 RICHARD L BARTHOLOMEW PRESIDENT 5.00 0.00 X X 0 0 0 GLENN TOMPKINS DIRECTOR (TERM END 7/23) 3.00 0.00 X 0 0 0 JANE SMITH SECRETARY 5.00 0.00 X X 0 0 0 BRAD DENO TREASURER 5.00 0.00 X X 0 0 0 BRET HAWKS DIRECTOR (TERM END 7/23) 3.00 0.00 X 0 0 0 ANNA WILSON DIRECTOR 3.00 0.00 X 0 0 0 MARIANNE ROSE VICE-PRESIDENT 5.00 0.00 X X 0 0 0 DON GENTRY DIRECTOR 3.00 0.00 X 0 0 0 STEPHANIE LONG DIRECTOR 3.00 0.00 X 0 0 0 CHARLENE SULLIVAN DIRECTOR 3.00 0.00 X 0 0 0 MARCELLA TASHJIAN-GIBBS DIRECTOR 3.00 0.00 X 0 0 0 BENJAMIN BLANKENSHIP EXECUTIVE DIRECTOR 40.00 0.00 X 0 0 0 JESSICA ARGERBRIGHT DIRECTOR OF ACCOUNTING 40.00 0.00 X 137329 0 21607 GARY ELLIOTT PLANT OPS DIRECTOR 40.00 0.00 X 122299 0 8714 CANDACE SWICK DIRECTOR OF MARKETING 40.00 0.00 X 109837 0 33832 STACEY JOHNSON ADMINISTRATIVE SERVICES DIRECTOR 40.00 0.00 X 110665 0 37254 JENNIFER CLARK DIRECTOR OF NURSING 40.00 0.00 X 122332 0 26731 602462 0 128138 11 0 1 0 PEPPER CONSTRUCTION COMPANY OF INDIANA 1850 W 15TH STREET INDIANAPOLIS IN 46202 CONSTRUCTION 7163444 SELECT REHABILITATION PO BOX 71985 CHICAGO IL 606941985 REHABILITATION SERVICES 1007788 CITATION HOMES INC 325 S EARL AVE STE 4 LAFAYETTE IN 47904 CONSTRUCTION 983697 LIFE CARE COMPANIES 400 LOCUST ST SUITE 820 DES MOINES IA 50309 MANAGEMENT COMPANY 847065 LAWN & SHRUB INC PO BOX 155 BUCK CREEK IN 479240155 LANDSCAPING 684184 20 80354 80354 SERVICE FEES 623000 26505074 26505074 LIFE OCC. FEE AMORTIZATION 623000 1123444 1123444 27628518 247437 247437 11702992 10736902 966090 966090 966090 31337 0 31337 31337 GUEST ROOMS/MEALS 623000 250828 250828 RESIDENT SERVICES 623000 194094 194094 BEAUTY SALON INCOME 623000 128206 128206 177238 177238 750366 29704102 27628518 0 1995230 265873 265873 11348106 10367618 980488 253695 158666 95029 2503924 2264364 239560 845329 756734 88595 921469 921469 25147 25147 87855 87855 59403 59403 2650214 2596214 54000 197101 71037 126064 774313 455192 319121 444062 186212 257850 1642502 1473694 168808 108423 17621 90802 1344453 1292187 52266 6278534 6034454 244080 522533 522533 FOOD 1426498 1364423 62075 UNRECOVERED COST BASIS 632472 632472 PHARMACY 192560 192560 EMPLOYEE RECRUITMENT 103609 39607 64002 227697 38626 189071 32855772 28230678 4625094 0 970556 122959 6586366 3245331 1107149 923986 132581 148605 109275 127569 127184358 55086013 74432819 72098345 10451508 15405524 5933920 6372679 422476 414461 100146650 98859459 2894406 2202390 6132176 6929916 47284948 47044259 9199000 8995000 44124355 45708402 109634885 110879967 X -9510863 -12043136 22628 22628 -9488235 -12020508 100146650 98859459 X -3151670 363359 -203272 459310 X X 0 1 X 1 0 X 752723 2188956 287751 289580 80354 3599364 22079961 22054382 22714479 23755611 27628518 118232951 33436 40817 569300 627382 708768 1979703 22866120 24284155 23571530 24672573 28417640 123812018 192987 72906 265893 0 192987 72906 265893 123546125 194307 232699 212298 240612 247437 1127353 194307 232699 212298 240612 247437 1127353 717027 396191 67970 24090 72935 1278213 23777454 24913045 23851798 24937275 28738012 126217584 0.97880 0.97380 0.00890 0.00790 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: RESIDENT SERVICES - 2019 AMOUNT: $ 169,944. 2020 AMOUNT: $ 114,509. GUEST ROOMS/MEALS - 2019 AMOUNT: $ 230,794. 2020 AMOUNT: $ 95,212. OTHER INCOME - 2019 AMOUNT: $ 100,940. 2020 AMOUNT: $ 7,318. 2021 AMOUNT: $ 67,970. 2022 AMOUNT: $ 24,090. 2023 AMOUNT: $ 72,935. SALON - 2019 AMOUNT: $ 117,433. 2020 AMOUNT: $ 83,954. INTERNET AND IT SERVICES - 2019 AMOUNT: $ 66,392. 2020 AMOUNT: $ 69,386. PARKING EQUIPMENT RENTAL - 2019 AMOUNT: $ 31,524. 2020 AMOUNT: $ 25,812. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2939505 2939505 104113586 40344688 63768898 8248017 5766364 2481653 11883250 8974961 2908289 72098345 RESIDENT DEPOSITS 454667 REFUNDABLE LIFE OCCUPANCY FEES 45253735 45708402 X 30467369 363359 459311 822670 29644699 59403 59403 29704102 32796369 0 32796369 59403 59403 32855772 PART X, LINE 2: WESTMINSTER VILLAGE WEST LAFAYETTE, INC. 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 AND IS NOT AWARE OF ANY ACTIVITIES THAT ARE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME OR EXCISE OR OTHER TAXES. PART XI, LINE 2D - OTHER ADJUSTMENTS: INTEREST RATE SWAP 459,311. 0 0 0 0 0 0 0 0 0 JESSICA ARGERBRIGHT DIRECTOR OF ACCOUNTING 120220 0 17070 0 39 0 11657 0 9950 0 158936 0 0 0 PART I, LINE 3 THE ORGANIZATIONS EXECUTIVE DIRECTOR IS COMPENSATED BY THE MANAGMENT COMPANY, LCS. LCS REGIONAL HR STAFF AND DOM CONDUCT THE REVIEW FOR ALL DIRECTORS. A INDIANA FINANCE AUTHORITY 351602316 2021-06-04 50929000 REFUND OF SERIES 2014 BONDS ISSUED ON 08/7/14 AND RENOVATION OF FACILITIES 0 0 0 A 3625000 50929000 417147 15166301 35345552 2023 1 0 1 1 A 0 1 1 1 0 0.00160 0.00000 0.00160 0 0 1 A 0 1 0 0 1 1 TRUIST BANK 12.000000000000 0 0 0 0 1 A 1 PAGE 2, PART III, LINE 2 THE INSTITUTION DOES REGULARLY "LEASE OR MAKES LIVING UNITS AVAILABLE FOR USE BY THE ELDERLY AS PART OF ITS TAX EXEMPT MISSION. PAGE 2, PART III, LINE 7 THE AMOUNT OF PRIVATE SECURITY HAS NOT BEEN CALCULATED BECAUSE THE ISSUES DO NOT MEET THE PRIVATE BUSINESS USE TEST. KINSEY FOSTER DAUGHTER OF BOARD MEMBER 46979 EMPLOYEE 0 FORM 990, PART VI, SECTION A, LINE 3 THE VILLAGE IS MANAGED BY LIFE CARE SERVICES, LLC (LCS) UNDER AN AGREEMENT WITH AN EFFECTIVE DATE OF JANUARY 1, 2021, THAT EXTENDS THROUGH JUNE 30, 2026. UNDER THE TERMS OF THE AGREEMENT, THE MONTHLY MANAGEMENT FEE IS A PERCENTAGE OF GROSS OPERATING REVENUES BASED ON COMMUNITY OCCUPANCY LEVELS. THE BASE RATE PERCENTAGE FOR THE 2024 AND 2023 CALENDAR YEARS IS 3.00% AND MAY BE ADJUSTED UP OR DOWN BY NO MORE THAN 0.10% DEPENDING ON ACTUAL OCCUPANCY AS COMPARED TO BUDGETED OCCUPANCY. IN ADDITION TO THE FIXED MONTHLY FEE, LCS IS PAID 3% OF THE TOTAL FEE ELIGIBLE REVENUES OF THE COMMUNITY LESS THE FIXED FEE. THE TOTAL AMOUNTS PAID UNDER THE MANAGEMENT AGREEMENT RELATED TO THE FIXED AND VARIABLE MONTHLY FEE WERE APPROXIMATELY $839,000 AND $706,000 FOR THE YEARS ENDED JUNE 30, 2024 AND 2023, RESPECTIVELY. THE VILLAGE WILL ALSO REIMBURSE LCS FOR THE SALARIES AND BENEFITS OF THE EXECUTIVE DIRECTOR, THE HEALTH CENTER ADMINISTRATOR, AND OTHER VARIOUS SERVICES, INCLUDING TRAVEL, MARKETING, AND MISCELLANEOUS REIMBURSABLE EXPENSES. DURING THE CALENDAR YEAR, THE FOLLOWING INDIVIDUALS WERE COMPENSATED FOR PROVIDING SERVICES TO WESTMINSTER VILLAGE IN THE FOLLOWING AMOUNTS: BENJAMIN BLANKENSHIP, EXECUTIVE DIRECTOR: $265,873 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS FULLY REVIEWED AND APPROVED BY THE FINANCE AND MANAGEMENT COMMITTEE OF THE BOARD OF DIRECTORS, AND THEN A COPY OF THE FORM 990 IS PROVIDED TO EACH BOARD MEMBER PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD OF DIRECTORS ARE REQUIRED TO REVIEW AND SIGN A CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS. IF A POSSIBLE CONFLICT OF INTEREST DOES ARISE, THE ISSUE IS VOTED ON BY ALL BOARD MEMBERS THAT DO NOT HAVE AN INTEREST IN THE OUTCOME. FORM 990, PART VI, SECTION B, LINE 15 SALARY INFORMATION PROVIDED BY LIFE CARE SERVICES (LCS) IS USED FOR DETERMINING THE COMPENSATION OF ALL DIRECTOR POSITIONS. LCS REGIONAL HR STAFF AND DOM CONDUCT THE REVIEW FOR ALL DIRECTORS. THIS PROCESS WAS LAST CONDUCTED IN 2024. FORM 990, PART VI, SECTION C, LINE 19 ALTHOUGH NOT REQUIRED, THE ORGANIZATION WILL PROVIDE PHOTOCOPIES OF ITS FINANCIAL STATEMENTS TO ALL WHO REQUEST THEM. A COPY OF THE FINANCIAL STATEMENTS IS ALSO LOCATED IN THE WESTMINSTER VILLAGE LIBRARY. FORM 990, PART XI, LINE 9: UNREALIZED GAIN / (LOSS) ON SWAP 459,310. FORM 990, PAGE 12, PART XII, LINE 2C THE ORGANIZATION HAS A FINANCE AND MANAGEMENT COMMITTEE THAT IS RESPONSIBLE FOR OVERSIGHT OF THE AUDIT. THIS PRACTICE IS CONSISTENT WITH THE PRIOR YEARS. FORM 990, PAGE 7, PART VII AND PAGE 10, PART IX LINE 5 THE EXECUTIVE DIRECTOR AND HEALTH FACILITY ADMINISTRATOR'S (HFA) COMPENSATION IS PAID BY THE MANAGEMENT COMPANY AND REIMBURSED BY THE ORGANIZATION. THE MANAGEMENT COMPANY ISSUES THE W-2. AS A RESULT, COMPENSATION IS LISTED ON PAGE 10 LINE 5, BUT NOT INCLUDED ON PAGE 7. WESTMINSTER VILLAGE FOUNDATION OF WEST LAFAYETTE INDIANA INC 2741 N SALISBURY STREET WEST LAFAYETTE IN 47906 351537414 SUBSIDIZE EXEMPT ACTIVITIES IN 501(C)(3) LINE 12C, III-FI N/A 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 1 1 0