2014-11-14T10:01:20-06:00 2013-12-31 KPMG LLP 1676 International Drive McLean VA 22102 990 2013-01-01 232226098 WILLOW VALLEY COMMUNITIES % DENNIS W GRIEST WILL 7174642741 600 WILLOW VALLEY SQUARE Suite LANCASTER PA 17602 Jane R Barley Secretary and Board of Directors 7032868000 2014-10-29 true Raymond LY P01205643 7032868000 2014-10-24 2013 2015-11-30 17:44:51Z JAMES W HOSTETTER BOD PRES 100 WILLOW VALLEY LAKES DR WILLOW STREET PA 17584 121063721 false X WWW.WILLOWVALLEYRETIREMENT.COM X 1982 PA WVRC ENRICHES THE LIVES OF MATURE ADULTS BY PROVIDING A CONTINUUM OF CARE AND SERVICE OPTIONS, PROMOTING WELLNESS, INDEPENDENCE AND THE HIGHEST POSSIBLE QUALITY OF LIFE. 10 10 1616 0 0 0 253042 193327 75780248 77886471 2932549 3632950 2856803 3467724 81822642 85180472 0 0 0 0 34423629 36124870 0 0 0 46064699 47233797 80488328 83358667 1334314 1821805 347123588 362728826 286007829 296129470 61115759 66599356 X WE ENRICH THE LIFE OF EACH RESIDENT. OUR RESIDENTS EXPERIENCE THE FINEST IN RETIREMENT LIVING IN AN ENVIRONMENT WHICH INSPIRES SPIRITUAL, PHYSICAL, INTELLECTUAL AND EMOTIONAL FULFILLMENT. OUR TEAM SERVES EACH RESIDENT GRACIOUSLY, COMPASSIONATELY, AND RESPECTFULLY IN A CULTURE WHICH CHERISHES EXCELLENCE AND INNOVATION. OUR COMMITMENT IS TO PROVIDE A BROAD RANGE OF SERVICES AND AMENITIES WHICH OFFER SUPERIOR VALUE TO RESIDENTS. false false 75199451 77886471 RESIDENTIAL SERVICES INCLUDE HEALTH CARE SERVICES, DIETARY, & FACILITY MAINTENANCE/OPERATION. THE COMPANY PROVIDES LIFE CARE TO RESIDENTS OF WILLOW VALLEY MANOR, A RETIREMENT FACILITY THAT INCLUDES 299 RESIDENTIAL UNITS & A 60-BED HEALTHCARE FACILITY; WILLOW VALLEY LAKES MANOR, A RETIREMENT FACILITY THAT INCLUDES 375 RESIDENTIAL UNITS, AN 80-BED HEALTHCARE FACILITY, 16 VILLA APARTMENTS, 36 MIDRISE APARTMENTS, & 80 DUPLEX & TRIPLEX RESIDENTIAL UNITS (THE DUPLEX & TRIPLEX UNITS ARE COLLECTIVELY KNOWN AS WILLOW GABLES); WILLOW VALLEY MANOR NORTH, A RETIREMENT FACILITY THAT INCLUDES 472 RESIDENTIAL UNITS AND A 251-BED HEALTHCARE FACILITY; AND SPRING RUN AT WILLOW VALLEY, A RETIREMENT FACILITY THAT INCLUDES 210 RESIDENTIAL UNITS & A 138-BED HEALTHCARE FACILITY. AS AN EXPANSION OF THE MANOR, THE COMPANY IS CONSTRUCTING 54 DUPLEX AND TRIPLEX UNITS TO BE KNOWN AS PROVIDENCE PARK AT WILLOW VALLEY. PHASE ONE CONSISTING OF 42 UNITS WAS COMPLETED IN 2013. PHASE TWO CONSISTING OF 12 TRIPLEX UNITS WILL BE COMPLETED IN 2014. 75199451 true true false false false false false false false false true false false false true false true false false false false false false false false false false false false true true false false false false false false false false false false false false false false false false false false false true 116 0 true 1616 true true true false false false false false false false false false X 10 10 false true false false false false false true true false false true true true true true true false false false PA X DENNIS W GRIEST 7174642741 100 WILLOW VALLEY LAKES DRIVE WILLOW STREET PA 17584 X JANE BARLEY SECRETARY 5.0 0.0 X X 7100 0 0 RICHARD GALLOWAY BOARD MEMBER 3.0 0.0 X 3500 0 0 JILL GILBERT TREASURER 5.0 0.0 X X 6600 0 0 JAMES HOSTETTER PRESIDENT 5.0 0.0 X X 9000 0 0 J DONALD KEMRER BOARD MEMBER 3.0 0.0 X 4000 0 0 JOHN SMITH BOARD MEMBER 3.0 0.0 X 5500 0 0 JOSEPH MCDONALD BOARD MEMBER 3.0 0.0 X 5500 0 0 LESLIE BRANT VICE PRESIDENT 5.0 0.0 X X 7600 0 0 BRUCE BARTELS BOARD MEMBER 3.0 0.0 X 1500 0 0 HELEN FOSTER BOARD MEMBER 3.0 0.0 X 1000 0 0 KRISTIN HAMBLETON DIRECTOR OF SALES 40.0 0.0 X 130071 0 17768 KENDALL HUNSICKER VP HEALTHCARE SERVICES 40.0 0.0 X 148354 0 16153 MARGARET DONEGAN HEALTHCARE ADMINISTRATOR 40.0 0.0 X 121011 0 8964 JAMES CLUCK VP PROPERTY MANAGEMENT 40.0 0.0 X 138708 0 15108 SHARON HABANEC DIRECTOR OF DINING SERVICES 40.0 0.0 X 108741 0 8601 698185 0 66594 5 false true false CCS Building Group LLC 100 WILLOW VALLEY LAKES DRIVE WILLOW STREET PA 17584 BUILDING CONTRACTOR 21004279 WILLOW VALLEY RETIREMENT MANAGEMENT 100 WILLOW VALLEY LAKES DRIVE WILLOW STREET PA 17584 MGMT & DEV. SERVICES 2996818 TRAGO MECHANICAL 730 MILLWOOD ROAD WILLOW STREET PA 17584 HVAC CONTRACTOR 1048497 GENSLER 4541 COLLECTIONS DRIVE CHICAGO IL 60693 MARKETING/BRANDING 354464 WEAVER ROOFING EXTERIORS 4873 DIVISION HIGHWAY EASTEARL PA 17519 ROOFING CONTRACTOR 338104 21 193327 193327 RESIDENT SERVICES 623000 66744036 66744036 HEALTH CARE 623000 11142435 11142435 77886471 2031166 2031166 0 0 177368 177368 0 0 0 0 37307665 35705881 1601784 1601784 1601784 0 0 0 CABLE TV & INTERNET INCOME 900099 407304 407304 CAFE & GUEST MEALS 900099 1079252 1079252 MAID SERVICE 900099 326623 326623 1654545 1654545 3467724 85180472 77886471 7100674 0 0 0 0 51300 51300 0 25481099 24759216 721883 317117 307603 9514 8214011 7967591 246420 2061343 1999503 61840 2592519 2592519 84117 84117 128924 128924 0 0 211210 211210 935622 935622 972830 871031 101799 3462219 3402895 59324 0 0 4171760 4171760 0 0 206281 192185 14096 900074 900074 0 17052940 15584682 1468258 780331 780331 FOOD 5077491 5077491 REAL ESTATE TAXES 4617203 4219662 397541 REPAIRS 1759159 1755666 3493 CONTRACTED SERVICES 730730 730730 3550387 3259362 291025 83358667 75199451 8159216 0 1350132 3667129 16831474 12256634 0 0 4868319 5938394 0 0 0 0 0 0 0 0 853810 704520 412956310 168118492 233613380 244837818 63183959 73551084 15096841 10793668 0 0 0 0 11325673 10979579 347123588 362728826 7457856 8931946 0 0 135533900 147631505 58080000 57370000 0 0 0 0 33415000 32485000 6366023 6318183 45155050 43392836 286007829 296129470 X 58888125 64441077 2227634 2158279 0 0 61115759 66599356 347123588 362728826 X 1821805 3729119 -67327 X false true X true false X 282602 304755 179247 253042 193327 1212973 71975950 73380386 75532530 75780248 77886471 374555585 0 0 0 72258552 73685141 75711777 76033290 78079798 375768558 0 0 0 375768558 1650198 1700005 1729219 1968342 2208534 9256298 0 1650198 1700005 1729219 1968342 2208534 9256298 0 3140266 3136272 2857668 2856803 3467724 15458733 77049016 78521418 80298664 80858435 83756056 400483589 0.93829 0.93687 0.02311 0.02443 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 16813769 16813769 352879980 150205366 202674614 43262561 17913126 25349435 244837818 0 REFUND LIABILITY 40570325 ENTRANCE FEE DEPOSITS 2755184 FAIR VALUE OF INTEREST RATE SWAP 67327 43392836 88808422 3729119 110041 3839160 84969262 211210 211210 85180472 83324825 177368 177368 83147457 211210 211210 83358667 SCHEDULE D, PART X, LINE 2 FIN 48 (ASC 740) FOOTNOTE THE COMPANY HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE AS A NOT-FOR-PROFIT CORPORATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM INCOME TAXES PURSUANT TO SECTION 501(A) OF THE INTERNAL REVENUE CODE. THE COMPANY DOES NOT BELIEVE IT HAS ANY UNCERTAIN TAX POSITIONS. NO FOOTNOTE WAS INCLUDED IN THE FINANCIAL STATEMENTS. SCHEDULE D, PART XI, LINE 2D OTHER ADJUSTMENTS IN REVENUE CHANGE IN FAIR VALUE OF INTEREST RATE SWAPS (67,327) RENTAL INCOME 177,368 TOTAL OTHER ADJUSTMENTS $110,041 SCHEDULE D, PART XII, LINE 2D OTHER ADJUSTMENTS IN EXPENSES RENTAL EXPENSE $177,368 false false false false false false false false false KENDALL HUNSICKER VP HEALTHCARE SERVICES 148354 0 0 0 0 0 4581 0 12027 0 164962 0 0 0 JAMES CLUCK VP PROPERTY MANAGEMENT 138708 0 0 0 0 0 4277 0 11256 0 154241 0 0 0 A LANCASTER INDUSTRIAL DEVELOPMENT AUTHORITY 231884507 514349CF4 2009-07-23 60000000 REFINANCE & RENOVATE THE GLEN false false false A 0 0 60000000 0 0 48576506 677644 277321 0 10468529 0 0 2009 true false false false A false true true true false 0 false false false false A false true true true true false 0 false false false 0 A true SCHEDULE K, PART II, LINE 17 POST-ISSUANCE COMPLIANCE PROCEDURES BOND PROCEEDS ARE TRACKED SEPARATELY IN A SEPARATE GENERAL LEDGER ACCOUNT WHICH IS TIED TO THE FUND BALANCE (REQUISITION REDUCTIONS) IN THE CONSTRUCTION TRUST FUND. FORM 990, PART VI, SECTION A, LINE 3 MANAGEMENT COMPANY SINCE THE INCEPTION OF WRC, A MANAGEMENT COMPANY HAS BEEN ENGAGED TO OVERSEE AND DIRECT VARIOUS FUNCTIONS ON BEHALF OF THE COMMUNITIES. THE CHIEF FINANCIAL OFFICER OVERSEES ALL ACCOUNTING, PAYROLL, FINANCIAL REPORTING, PURCHASING, AND INVESTMENT FUNCTIONS. THE CORPORATE DIRECTOR OF HUMAN RESOURCES OVERSEES THE EMPLOYMENT PROCESS, BENEFITS ADMINISTRATION AND TRAINING. THE CHIEF OPERATING OFFICER OVERSEES, PROVIDES DIRECTION AND INSIGHT TO THE VARIOUS OPERATIONS (DINING, HEALTHCARE, PROPERTY MANAGEMENT, HOUSEKEEPING, RESIDENT SERVICES). THE CHIEF MARKETING OFFICER PROVIDES DIRECTION AND INSIGHT TO MARKETING AND SALES. STRATEGIC PLANNING AND DIRECTION IS SPEARHEADED BY THE PRESIDENT. DUE TO THE EXPERTISE AND EXPERIENCE, THE COMMUNITIES HAVE FOUND THIS TO BE A VERY EFFICIENT, PRO-ACTIVE, AND COST EFFECTIVE METHOD OF PROVIDING LEADERSHIP AND SERVICE. FORM 990, PART VI, SECTION A, LINE 11 FORM 990 REVIEW THE MANAGEMENT COMPANY'S FINANCE DEPARTMENT PREPARES THE INFORMATION FOR THE FORM 990. OUR INDEPENDENT ACCOUNTING FIRM (KPMG) REVIEWS THE INFORMATION AND PREPARES A DRAFT RETURN. THE DRAFT IS REVIEWED BY THE BOARD OF DIRECTORS WITH FILING APPROVAL GIVEN BY THE AUDIT & FINANCE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST ON AN ANNUAL BASIS, OFFICERS, DIRECTORS, AND KEY EMPLOYEES ARE REQUIRED TO COMPLETE A CONFLICT OF INTEREST FORM. UPON COMPLETION THIS FORM MUST BE NOTARIZED. ONE COPY IS FORWARDED TO PA DEPARTMENT OF INSURANCE AND ANOTHER IS RETAINED BY THE MANAGEMENT COMPANY. AS NEW BUSINESS RELATIONSHIPS ARE DEVELOPED/FORMED, APPROPRIATE QUESTIONS ARE ASKED TO DETERMINE IF POTENTIAL CONFLICTS EXIST. IN ADDITION, EACH INDIVIDUAL THAT COMPLETED THE FORM IS TO MAKE THE COMMUNITIES AWARE OF ANY POTENTIAL CONFLICTS OF INTEREST THAT THEY MAY BECOME AWARE OF. ANY POTENTIAL CONFLICT WOULD BE REVIEWED, DISCUSSED AND BROUGHT TO THE EXECUTIVE COMMITTEE OF THE BOARD FOR RECOMMENDED RESOLUTION. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION REVIEW ANNUALLY THE RETIREMENT COMMUNITIES' EXECUTIVE COMMITTEE OF THE BOARD EVALUATES THE SERVICES PROVIDED BY THE MANAGEMENT COMPANY. PRIOR TO THE RENEWAL OF THE MANAGEMENT CONTRACT, THE EXECUTIVE COMMITTEE OF THE BOARD ENGAGES AN INDEPENDENT COUNSEL TO REVIEW THE TERMS AND CONDITIONS OF THE CONTRACT. ADDITIONALLY, AN INDEPENDENT ACCOUNTING FIRM IS ENGAGED BY INDEPENDENT COUNSEL TO VERIFY THE REASONABLENESS OF THE MANAGEMENT FEES BY COMPARING THE FEES TO OTHER MANAGEMENT CONTRACTS. UPON RECEIPT OF ALL INFORMATION, INCLUDING THE RECOMMENDATION OF THE EXECUTIVE COMMITTEE, THE FULL BOARD OF DIRECTORS TAKES ACTION ON THE RENEWAL OF THE MANAGEMENT CONTRACT. THE CONTRACT IS A FIVE-YEAR CONTRACT. FORM 990, PART VI, SECTION C, LINE 19 AVAILABILITY OF GOVERNING DOCUMENTS TO THE PUBLIC THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. PART XI, LINE 9 OTHER CHANGES IN NET ASSETS CHANGE IN FAIR VALUE OF INTEREST RATE SWAPS (67,327)