2014-12-11T07:30:11-06:00 2014-09-30 560817345 Turlington and Company LLP PO Box 1697 Lexington NC 272931697 990 2013-10-01 560754599 Friends Homes Inc FRIE 3362928187 925 New Garden Road Greensboro NC 27410 Wilson Sheldon Chief Executive Officer 3362928187 2014-12-01 1 Marcia W Henriksen P01259831 3362496856 2013 2015-11-30 17:44:51Z Wilson Sheldon 925 New Garden Road Greensboro NC 27410 37302905 0 X friendshomes.org X 1958 NC To establish and operate continuing care retirement communities in accordance with the principles of the Religious Society of Friends. These principles require that our communities provide, at a reasonable cost, an environment which fosters independence and a sense of wholeness, health, and security so that each resident may realize his or her full potential. In doing so we facilitate the basic Quaker principle that "there is God in every person," meaning that everyone has worth and value. Through continuous improvement and expansion, the organization will provide affordable services to the aged and support to the community at large. We accept the responsibility to promote consistent quality care while providing a home for our residents. 23 23 538 0 0 0 960047 357364 23510093 24807761 21242 1505227 7 0 24491389 26670352 0 0 0 0 12449470 14170139 0 0 0 11900917 10754629 24350387 24924768 141002 1745584 81478749 84564774 50727177 50272656 30751572 34292118 To provide nursing and residential care and other support services to the elderly. 0 0 22357974 24807761 There are 10 cottages, 358 apartments, 100 assisted care beds and 109 nursing beds. 22357974 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 0 0 0 0 0 0 0 0 0 0 0 1 154 0 538 1 0 0 0 0 0 0 0 0 X 23 23 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 X Wilson Sheldon 3362928187 925 New Garden Road Greensboro NC 27410 Mark Farlow Board Member 0.00 X 0 0 0 Ed Harris Board Member 0.00 X 0 0 0 Terrill Harris Treasurer 0.00 X X 0 0 0 Beth Joyce Board Member 0.00 X 0 0 0 John Kirk Board Member 0.00 X 0 0 0 Anthony Lowe Board Member 0.00 X 0 0 0 Deets McCullen Board Member 0.00 X 0 0 0 Carolyn McPherson Board Member 0.00 X 0 0 0 Martha Mattocks Board Member 0.00 X 0 0 0 David Millikan Board Member 0.00 X 0 0 0 Janet Robbins Board Member 0.00 X 0 0 0 Jennifer Ross Board Member 0.00 X 0 0 0 Carl Semmler Board Chair 0.00 X X 0 0 0 William Stevens Jr Vice Chair 0.00 X X 0 0 0 Gwen Taylor Board Member 0.00 X 0 0 0 Sara Beth Terrell Board Member 0.00 X 0 0 0 Patrick Tillman Board Member 0.00 X 0 0 0 Scott Wagoner Board Member 0.00 X 0 0 0 Ben Warren Board Member 0.00 X 0 0 0 Marla Allred Board Member 0.00 X 0 0 0 Dick Coe Secretary 0.00 X X 0 0 0 Traci Cossman Board Member 0.00 X 0 0 0 Bill Davis Board Member 0.00 X 0 0 0 Wilson Sheldon Jr CEO 40.00 X 175109 0 0 Tim E Jackson Administrator 40.00 X 101563 0 0 276672 0 0 2 0 1 0 0 357364 357364 Resident services 623000 24807761 24807761 24807761 687632 687632 11425777 24371 10627325 5228 798452 19143 817595 817595 26670352 24807761 0 1505227 X 11498472 10120199 1378273 276000 217506 58494 1555429 1368778 186651 840238 738901 101337 8812 8812 70946 70946 108266 108266 700201 616177 84024 2023767 1922579 101188 Food Costs 1531933 1531933 Utilities 1172495 1123834 48661 Repairs & maintenance 1080249 1079428 821 Charitable care 731494 731494 3326466 2798879 527587 24924768 22357974 2566794 0 5786765 7825845 171510 327459 1686351 1642632 213015 195908 102024 101790 79330864 32983917 48086617 46346947 24806612 27196935 625855 927258 81478749 84564774 2098450 2241292 11379334 11770636 35525000 34335000 1614500 1838017 109893 87711 50727177 50272656 X 29939929 33376133 746643 850985 65000 65000 30751572 34292118 81478749 84564774 X 1745584 2123511 -328549 X 0 1 X 1 0 X 184218 426574 1332243 960047 357364 3260446 22601926 23478229 23664598 23510093 24807761 118062607 22786144 23904803 24996841 24470140 25165125 121323053 0 0 0 121323053 386167 475544 472990 537298 687632 2559631 386167 475544 472990 537298 687632 2559631 23172311 24380347 25469831 25007438 25852757 123882684 0.97930 0.98010 0.02070 0.01990 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5179990 5179990 62227655 26709664 35517991 6763024 2211320 4551704 5160195 4062933 1097262 46346947 Occupancy deposits 74100 Prepaid rent 13611 87711 X 28465314 2123511 -328549 1794962 26670352 0 26670352 24924768 0 24924768 0 24924768 Part X, Line 2: The Organization has determined that it has no uncertain income tax positions as of September 30, 2014 and 2013. Also, the Organization does not anticipate any increase or decrease in unrecognized tax benefits during the next twelve months that would result in a material change in its financial position. The Organization's income tax returns for years ended after September 30, 2011 remain open for examination. Part XI, Line 2d - Other Adjustments: Unrealized loss on interest rate swap -328,549. X 1 1 X 0 0 0 0 0 0 0 0 0 Wilson Sheldon Jr CEO 175109 0 0 0 0 0 0 0 0 0 175109 0 0 0 A North Carolina Medical Care Commission 521309402 657902M41 2011-11-01 37745000 Refunding prior bond issue dated 10/16/03 0 0 0 A 3410000 37745000 1 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 0 1 1 Branch Bank & Trust 7.000000000000 0 0 0 0 0 A 0 (3C) Term of Hedge Entered into two (2) year forward swap on September 27, 2012 effective September 1, 2014, for a seven (7) year term, ending November 1, 2021. Form 990, Part VI, Section B, line 11 The 990 is reviewed by the Chief Executive Officer, the Controller and Chairman of the board. Form 990, Part VI, Section B, line 12c The policy is signed each time a member joins the board. The organization relies on the integrity of the board members to monitor their independence. Form 990, Part VI, Section B, line 15a The CEO's compensation is set by the compensation committee of the board who are independent. Form 990, Part VI, Section C, line 19 The Organization is regulated by the Insurance Commission and the financial statements are part of the Disclosure required by them. Form 990, Part IX, line 24e Contract Medical Services: Program service expenses 580,496. Management and general expenses 0. Fundraising expenses 0. Total expenses 580,496. Miscellaneous: Program service expenses 358,631. Management and general expenses 217,667. Fundraising expenses 0. Total expenses 576,298. Prescription drugs, etc.: Program service expenses 522,980. Management and general expenses 0. Fundraising expenses 0. Total expenses 522,980. Supplies: Program service expenses 476,996. Management and general expenses 24,845. Fundraising expenses 0. Total expenses 501,841. Contractual dietary: Program service expenses 452,184. Management and general expenses 0. Fundraising expenses 0. Total expenses 452,184. Insurance: Program service expenses 300,809. Management and general expenses 137,069. Fundraising expenses 0. Total expenses 437,878. Office expenses: Program service expenses 45,221. Management and general expenses 125,837. Fundraising expenses 0. Total expenses 171,058. Property Taxes: Program service expenses 38,118. Management and general expenses 0. Fundraising expenses 0. Total expenses 38,118. Dues and Subscriptions: Program service expenses 3,312. Management and general expenses 22,169. Fundraising expenses 0. Total expenses 25,481. Amortization of bond issue costs: Program service expenses 20,132. Management and general expenses 0. Fundraising expenses 0. Total expenses 20,132. Form 990, Part XI, line 9: Unrealized gain/loss on interest rate swap -328,549.