2014-11-12T13:41:38-06:00 2013-12-31 593070669 MOORE STEPHENS LOVELACE PA 311 PARK PLACE BLVD SUITE 100 CLEARWATER FL 33759 990 2013-01-01 311671731 SKIDAWAY HEALTH AND LIVING SERVICES INC SKID 9125983601 95 SKIDAWAY ISLAND PARK ROAD SAVANNAH GA 31411 S STEWART BROMLEY TREASURER 9125983601 2014-11-12 1 MELANIE A MCPEAK P01346034 7275314477 2013 2015-11-30 17:44:51Z S STEWART BROMLEY 95 SKIDAWAY ISLAND PARK ROAD SAVANNAH GA 31411 17690138 0 X WWW.MARSHESOFSKIDAWAY.ORG X 1999 GA THE MARSHES OF SKIDAWAY ISLAND IS A COMMUNITY-BASED NONPROFIT ORGANIZATION CELEBRATING THE LIVES OF SENIORS AND SERVING THEIR SOCIAL, PERSONAL AND HEALTH NEEDS. WE ARE DEDICATED TO CONTINUOUS QUALITY IMPROVEMENT TO PROVIDE RESIDENTS WITH A CONTINUUM OF CARE THAT ENRICHES THEIR LIVES AND WELL-BEING. 12 12 303 38 0 0 0 0 15114897 13592685 10622 2432 70919 4095021 15196438 17690138 0 0 0 0 5442196 5531939 0 0 0 11086553 11783668 16528749 17315607 -1332311 374531 85631362 83883159 112405244 126952770 -26773882 -43069611 X THE MARSHES OF SKIDAWAY ISLAND IS A COMMUNITY-BASED NONPROFIT ORGANIZATION CELEBRATING THE LIVES OF SENIORS AND SERVING THEIR SOCIAL, PERSONAL AND HEALTH NEEDS. WE ARE DEDICATED TO CONTINUOUS QUALITY IMPROVEMENT TO PROVIDE RESIDENTS WITH A CONTINUUM OF CARE THAT ENRICHES THEIR LIVES AND WELL-BEING. 0 0 9217771 9693939 THE ORGANIZATION IS A CONTINUING CARE RETIREMENT COMMUNITY ("CCRC") OPERATING UNDER THE NAME "THE MARSHES OF SKIDAWAY ISLAND" (THE "COMMUNITY") AND OPERATES UNDER THE "CONTINUING CARE" CONCEPT IN WHICH RESIDENTS ENTER INTO OCCUPANCY AGREEMENTS THAT REQUIRE PAYMENT OF A ONE-TIME ENTRANCE FEE AND A MONTHLY SERVICE FEE. THE COMMUNITY INCLUDES 182 INDEPENDENT LIVING UNITS, 175 OF WHICH WERE OCCUPIED AS OF DECEMBER 31, 2013. 2462614 2589827 THE COMMUNITY'S SKILLED NURSING FACILITY OFFERS 24-HOUR NURSING SERVICES VIA 28 SKILLED NURSING CARE BEDS. 1088624 1144860 THE COMMUNITY'S ASSISTED LIVING FACILITY OFFERS 24-HOUR ASSISTANCE TO RESIDENTS OF 16 ASSISTED LIVING UNITS. 235068 247211 OTHER SERVICES INCLUDE FOOD SERVICE, IN-HOME HEALTH CARE AND MEMORY CARE. 235068 247211 13004077 1 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 48 0 1 303 1 0 0 0 0 0 0 0 0 0 0 X 12 12 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 GA X LORNA CARSWELL 9125985030 95 SKIDAWAY ISLAND PARK ROAD SAVANNAH GA 31411 WILLIAM E CRAIG PRESIDENT 0.50 X X 0 0 0 BEAU ANDERS MEMBER 0.50 X 0 0 0 THOMAS L CURLESS TREASURER 0.50 X X 0 0 0 LISA BIRCH MEMBER 0.50 X 0 0 0 STEWART BROMLEY CPA CFP MEMBER 0.50 X 0 0 0 ROBERT DIBENEDETTO MD MEMBER 0.50 X 0 0 0 WILLIAM G FOSTER SR MEMBER 0.50 X 0 0 0 KEITH DIMOND MD MEMBER 0.50 X 0 0 0 JANET K KUHN EDD RN MEMBER 0.50 X 0 0 0 JAMES K EMERY MEMBER 0.50 X 0 0 0 LEAANN W ALDRIDGE VICE PRESIDENT 0.50 X X 0 0 0 WALLACE SMITH MEMBER 0.50 X 0 0 0 AMANDA ELLIOTT EXECUTIVE DIRECTOR (LCS EMPLOYEE) 40.00 X 0 0 0 LORNA CARSWELL ACCOUNTING DIRECTOR 40.00 X 73121 0 10987 73121 0 10987 0 0 0 0 LIFE CARE SERVICES LLC 400 LOCUST STE 820 DES MOINES IA 50309 MANAGEMENT FEES 667312 HERITAGE HEALTHCARE 536 OLD HOWELL RD GREENVILLE SC 29615 THERAPY CONTRACTOR 428579 DELANO TRU PAINTING 1 BOSTWICK DRIVE POOLER GA 31322 CONSTRUCTION 255177 ZILLNER MARKETING COMMUNICATIONS INC 8725 ROSEFIELD RD SUITE 200 LENEXA KS 66215 ADVERTISING 215670 VALLEY CREST LANDSCAPE MAINTENANCE 184 SIMMONSVILLE BLUFFTON SC 29910 LANDSCAPE MAINTENANCE 182358 6 MONTHLY SERVICE FEES 623000 8663043 8663043 SKILLED NURSING FACILITY 623000 3734687 3734687 EARNED ENTRANCE FEES 623000 1030896 1030896 FOOD SERVICE 623000 164059 164059 13592685 2432 2432 DEBT FORGIVENESS INCOME 900099 4011869 4011869 OTHER INCOME 623000 83152 83152 4095021 17690138 13675837 0 4014301 84108 84108 4705981 3877403 828578 10904 8826 2078 381450 308770 72680 349496 286995 62501 655453 655453 2781 2781 48146 48146 126824 19768 107056 280227 280227 560332 438530 121802 1068850 802710 266140 55402 41736 13666 10066 10066 3036919 2280736 756183 3152710 2367695 785015 809392 594342 215050 FUTURE SERVICES OBLIGAT 782000 782000 NURSING AND ANCILLARY 586361 586361 FOOD SERVICE 581962 581962 BAD DEBT 25857 25857 386 386 17315607 13004077 4311530 0 536448 499230 1885038 5515831 555291 454547 84789 63371 195044 178670 90385912 20657983 71519388 69727929 8428263 5450103 412481 363015 2014620 1630463 85631362 83883159 3934913 2771634 60953724 81083555 43218263 42363442 129500 4298344 604639 112405244 126952770 X -26773882 -43069611 -26773882 -43069611 85631362 83883159 374531 -16670260 0 X X 0 1 X 1 0 X 5630 5630 12599338 13650311 14283791 15114897 13592685 69241022 12599338 13655941 14283791 15114897 13592685 69246652 0 0 0 69246652 9298 17268 7797 10622 2432 47417 9298 17268 7797 10622 2432 47417 88614 72109 53651 70919 83152 368445 12697250 13745318 14345239 15196438 13678269 69662514 0.99400 0.99220 0.00070 0.00210 X 3400000 3400000 84239084 18959534 65279550 2600934 1666952 933982 145894 31497 114397 69727929 MONEY MARKET 5450103 F 5450103 DEPOSITS 604639 604639 17690138 0 17690138 0 17690138 17315607 0 17315607 0 17315607 A SAVANNAH ECON DEV AUTH FIXED RATE FIRST MORT BONDS SERIES 2013 586001588 80483CLM1 2013-12-23 43855000 DEVELOP AND CONSTRUCT FACILITIES AND RELATED COSTS 0 0 0 A 43153320 3421100 350000 39382220 2013 0 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 A 1 SCHEDULE K, PART I, LINE A, COL (C) SAVANNAH ECON. DEV. AUTH. FIXED RATE FIRST MORT. BONDS, SERIES 2013: THE CUSIP NUMBERS FOR THE SAVANNAH ECONOMIC DEVEVELOPMENT AUTHORITY FIXED RATE FIRST MORTGAGE BONDS, SERIES 2013 ARE AS FOLLOWS: 80483CLM1 (MATURITY DATE: 1/1/2049) 80483CLL3 (MATURITY DATE: 1/1/2044) 80483CLK5 (MATURITY DATE: 1/1/2038) 80483CLJ8 (MATURITY DATE: 1/1/2034) 80483CLH2 (MATURITY DATE: 1/1/2024) 80483CLG4 (MATURITY DATE: 1/1/2019) 80483CLE9 (MATURITY DATE: 1/1/2017) 80483CLD1 (MATURITY DATE: 1/1/2016) 80483CLC3 (MATURITY DATE: 1/1/2015) SCHEDULE K, PART II, LINE 3 ADDITIONAL INFORMATION RELATED TO BOND ISSUANCE: IN DECEMBER 2013, THE ORGANIZATION ISSUED THE SAVANNAH ECONOMIC DEVELOPMENT AUTHORITY REFUNDING REVENUE BONDS, SERIES 2013 (THE "SERIES 2013 BONDS") IN THE AMOUNT OF $43,855,000. THE SERIES 2013 BONDS WERE ISSUED TO REFINANCE THE EXISTING SERIES 2003 BONDS, FUND REQUIRED RESERVES INCLUDING A CONSTRUCTION FUND, AND PAY FOR THE COST OF ISSUANCE. THE SERIES 2013 BONDS ARE COLLATERALIZED BY A MORTGAGE ON THE ORGANIZATION'S PROPERTY; A SECURITY INTEREST IN THE PERSONAL PROPERTY, EQUIPMENT, AND FIXTURES INCLUDED IN THE COMMUNITY; AND A SECURITY INTEREST IN THE GROSS REVENUES OF THE ORGANIZATION. THE ORGANIZATION MUST ALSO COMPLY WITH CERTAIN RESTRICTIVE AND FINANCIAL COVENANTS, INCLUDING A DEBT SERVICE COVERAGE RATIO AND A DAYS CASH ON HAND REQUIREMENT. THE ORGANIZATION WAS IN COMPLIANCE AT DECEMBER 31, 2013. FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION USES A MANAGEMENT COMPANY, LIFE CARE SERVICES LLC (LCS), TO MANAGE THE DAY-TO-DAY OPERATIONS IN ACCORDANCE WITH THE ORGANIZATION'S POLICIES, DIRECTIVES, AND GOALS. THE EXECUTIVE DIRECTOR OF THE HEALTH CARE CENTER IS A LCS EMPLOYEE. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED IN ITS ENTIRETY BY THE FINANCE COMMITTEE AND THE EXECUTIVE DIRECTOR BEFORE IT IS FILED WITH THE IRS. A COPY OF THE FORM 990, AS ULTIMATELY FILED WITH THE IRS, IS PROVIDED TO EACH VOTING MEMBER OF THE ORGANIZATION'S GOVERNING BODY BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS MONITORS AND ENFORCES COMPLIANCE WITH THE ORGANIZATION'S CONFLICT OF INTEREST POLICY WHENEVER A CONFLICT IS IDENTIFIED THROUGH THE ANNUAL DISCLOSURE PROCESS. THE BOARD DETERMINES WHETHER A CONFLICT EXISTS AND, IN THE CASE OF AN EXISTING CONFLICT, WHETHER THE CONTEMPLATED TRANSACTION MAY BE AUTHORIZED AS JUST, FAIR, AND REASONABLE TO THE ORGANIZATION. THE DECISION OF THE BOARD ON THESE MATTERS RESTS IN THEIR DISCRETION, AND THEIR CONCERN IS THE WELFARE OF THE ORGANIZATION AND THE ADVANCEMENT OF ITS PURPOSE. TRANSACTIONS WITH PARTIES WITH WHOM A CONFLICTING INTEREST EXISTS MAY BE UNDERTAKEN ONLY IF ALL OF THE FOLLOWING ARE OBSERVED: 1. THE CONFLICTING INTEREST IS FULLY DISCLOSED; 2. THE PERSON WITH THE CONFLICT OF INTEREST IS EXCLUDED FROM THE DISCUSSION AND APPROVAL OF SUCH TRANSACTION; 3. A COMPETITIVE BID OR COMPARABLE VALUATION EXISTS; AND 4. THE BOARD HAS DETERMINED THAT THE TRANSACTION IS IN THE BEST INTEREST OF THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION USES AN INDEPENDENT MANAGEMENT COMPANY AND DOES NOT DIRECTLY PAY COMPENSATION TO THE CEO, EXECUTIVE DIRECTOR, TOP MANAGEMENT OFFICIALS, OTHER OFFICERS AND KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST AND FOR REVIEW IN ITS OFFICE. FORM 990, PART XII, LINE 2C: OVERSIGHT OF AUDIT: THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS HAS RESPONSIBILITY FOR OVERSIGHT OF AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. GENERAL DISCLOSURE: SOCIAL ACCOUNTABILITY THE ORGANIZATION PROVIDES VARIOUS OPPORTUNITIES TO IMPROVE THE LIVES OF THE SENIORS IN THE AREA AND TO GIVE BACK TO THE COMMUNITY IN WHICH THE ORGANIZATION SERVES. THE ORGANIZATION AND ITS EMPLOYEES SUPPORT A VARIETY OF LOCAL CHARITIES THROUGH BOTH MONETARY AND NONCASH ITEM CONTRIBUTIONS. ACTIVITY PERFORMED THROUGHOUT THE REPORTING YEAR INCLUDES: 1)VARIOUS SUPPLIES FOR CHILDREN AND FAMILY AT RONALD MCDONALD HOUSE 2)PLANTING OF LIVE OAK TREES WITH SAVANNAH TREE FOUNDATION 3)DONATION OF MEN'S CLOTHING TO THE OLD SAVANNAH CITY MISSION 4)610 POUNDS OF FOOD DONATED TO AMERICA'S SECOND HARVEST OF COASTAL GEORGIA 5)PROVIDED CATERING FOR LUNCH AT A TENNIS MATCH TO BENEFIT LEUKEMIA CHARITY 6)FOOD DONATION TO THE MARSHES 7)DONATED FOOD TO THE THANKSGIVING FOOD DRIVE TO BENEFIT THE COAST GUARD AIR STATION 8)FOOD DONATION FOR EMPLOYEE HARDSHIP FUND 9)BLESSING BAGS FOR HOMELESS AT MULBERRY AND DAY BREAK 10)TOY DONATION TO TOYS FOR TOTS AT THE SAVANNAH NAVY LEAGUE & MARINES 11)BAKED GOOD DONATION FOR THE YOUTH CHALLENGE AT ACADEMY FT. STEWART MILITARY SCHOOL 12)TEDDY BEAR DONATION FOR THE SALVATION ARMY MONETARY DONATIONS WERE PROVIDED TO THE FOLLOWING: 1)WOUNDED WARRIOR PROJECT 2)SAVANNAH AREA FAMILY EMERGENCY SHELTER, INC. 3)FIRE & ICE/SS FIRE DEPARTMENT 4)HESSE JAMBOREE 5)AMERICAN CANCER SOCIETY 6)KIWANIS CLUB OF SKIDAWAY 7)ALZHEIMER'S WALK 8)BREAST CANCER FOUNDATION 9)HABITAT FOR HUMANITY RESTORE 10)AMERICAN LUNG ASSOCIATION 11)AMERICAN HEART ASSOCIATION TOTAL MONETARY VALUE PROVIDED TO THE COMMUNITY EQUALS OVER $15,191 WITH A TOTAL OF 318 VOLUNTEER HOURS PERFORMED. OVER 9,000 INDIVIDUALS WERE SERVED WITH THE ABOVE CHARITABLE ACTIVITIES.