2014-08-07T12:47:37-05:00 2013-12-31 410746749 CLIFTONLARSONALLEN LLP 610 WGERMANTOWN PIKE STE400 PLYMOUTH MEETING PA 19462 990 2013-01-01 830344521 WHITEMARSH CONTINUING CARE RETIREMENT COMMUNITY WHIT 2154028500 4000 FOX HOUND DRIVE LAFAYETTE HILL PA 19444 PETER E FLEMING CFO 2154028500 2014-08-06 1 JAMES D WATSON P01450300 2156433900 2013 2015-11-30 17:44:51Z PETER E FLEMING 4000 FOX HOUND DRIVE LAFAYETTE HILL PA 19444 50951514 0 X WWW.THEHILLATWHITEMARSH.ORG X 2001 PA THE HILL AT WHITEMARSH SUPPORTS, HONORS, AND UPLIFTS THE LIVES OF ITS RESIDENTS AND THOSE WHO SERVE THEM. 19 18 370 100 0 0 1041096 2028517 30684480 29481768 63515 31801 2195172 960956 33984263 32503042 0 0 0 0 9077597 9504699 0 0 0 24888638 25182462 33966235 34687161 18028 -2184119 225837577 219860182 251904988 259751132 -26067411 -39890950 TO PROVIDE QUALITY RESIDENTIAL AND HEALTH CARE SERVICES TO SENIOR CITIZENS IN OUR SURROUNDING COMMUNITIES TO ALLOW OUR RESIDENTS TO LIVE AS INDEPENDENT A LIFESTYLE AS POSSIBLE WITH DIGNITY AND COMPASSION. 0 0 32036321 29481768 WHITEMARSH CONTINUING CARE RETIREMENT COMMUNITY OWNS AND OPERATES A CONTINUING CARE RETIREMENT COMMUNITY WHICH PROVIDES HOUSING, HEALTH CARE, DINING, WELLNESS AND RELATED SERVICES AND AMENITIES TO SERVE ITS 65 AND OLDER SENIOR RESIDENTS. THE COMMUNITY IS COMPRISED OF 180 APARTMENT RESIDENCES, 86 ATTACHED AND DETACHED SINGLE FAMILY HOMES, 60 SKILLED NURSING ROOMS AND 28 ASSISTED LIVING SUITES IN THE HEALTH CENTER AND DINING AND WELLNESS FACILITIES LOCATED ON 96 ACRES IN WHITEMARSH TOWNSHIP, PENNSYLVANIA. AS OF DECEMBER 31, 2013, 243 OF THE RESIDENCES WERE OCCUPIED. 32036321 1 1 0 0 0 0 0 0 0 0 1 1 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 1 0 0 0 0 0 0 0 0 1 43 0 370 1 0 0 0 0 0 0 0 0 0 0 X 19 18 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X X PETER E FLEMING CFO 2154028712 4000 FOX HOUND DRIVE LAFAYETTE HILL PA 19444 NEIL LUBARSKY BOARD MEMBER 0.50 X 0 0 0 HENRY CROUTER TREASURER 0.50 X X 0 0 0 PHILIP S DEMING CHAIRMAN 2.00 X X 0 0 0 EDITH DIXON BOARD MEMBER 0.50 X 0 0 0 WILLIAM MCDOWELL BOARD MEMBER 0.50 X 0 0 0 LOUISE JOHNSTON BOARD MEMBER 0.50 X 0 0 0 RICHARD JONES JR BOARD MEMBER 0.50 X 0 0 0 WILLIAM MARAZZO BOARD MEMBER 0.50 X 0 0 0 JUDITH MCGRUTHER CHIEF EXECUTIVE OFFICER 50.00 X X 380415 0 10429 LUDLOW MILLER BOARD MEMBER 0.50 X 0 0 0 JESSICA MOORE BOARD MEMBER 0.50 X 0 0 0 HUGH MOULTON SECRETARY 0.50 X X 0 0 0 SHAUN O'MALLEY BOARD MEMBER 0.50 X 0 0 0 FRANK REED BOARD MEMBER 0.50 X 0 0 0 JAMES STUDDIFORD BOARD MEMBER 0.50 X 0 0 0 MACK STULB VICE CHAIRMAN 2.00 X X 0 0 0 CHRIS VAN DE VELDE BOARD MEMBER 0.50 X 0 0 0 SUSAN PARKS BOARD MEMBER 0.50 X 0 0 0 BRUCE WILSON BOARD MEMBER 0.50 X 0 0 0 PETER FLEMING CHIEF FINANCIAL OFFICER 50.00 X 177698 0 15536 PETER VON MECHOW HEALTHCARE ADMINISTRATOR 50.00 X 110383 0 2919 668496 0 28884 3 0 1 0 CALDWELL HECKLES & EGAN INC 1270 GROFFTOWN ROAD LANCASTER PA 17602 GENERAL CONTRACTOR 1134451 FUNCTIONAL PATHWAYS 614 MABRY HOOD ROAD SUITE 301 KNOXVILLE TN 37932 THERAPY PROVIDER 855202 RJL SERVICES 852 MEADOWNWOOD LANE WARMINSTER PA 18974 GENERAL CONTRACTOR 610654 SENIOR HEALTH VENTURES LLC 737 WEST CHESTER PIKE SUITE 5 HAVERTOWN PA 19083 HOME CARE COMPANIONS 571994 US FOODSERVICE 1200 HOOVER AVE ALLENTOWN PA 18109 FOOD 418005 21 2028517 1205633 2028517 RESIDENT CARE FEES 623000 25385539 25385539 AMORT OF DEFERRED ENTRANCE FEES 623000 3745112 3745112 MEDICAL CARE FEES 623000 351117 351117 29481768 136236 136236 22266 0 22266 22266 22266 18344037 18448472 -104435 -104435 -104435 MEAL REVENUE 722210 356190 356190 UTILITIES REVENUE 221000 233980 233980 LOSS ON EXTINGUISHMENT OF DEBT 900090 -23875 -23875 372395 372395 938690 32503042 29481768 0 992757 629738 629738 7392845 7008909 383936 90820 90820 758227 664893 93334 633069 499016 134053 316171 316171 45401 45401 926794 926794 306357 278286 28071 4252829 4006241 246588 160522 69686 90836 3065045 3020333 44712 12968 8113 4855 11368 8919 2449 7863711 7863711 7489769 7489769 443407 443407 REPAIRS AND MAINTENANCE 187555 185772 1783 EDUCATION AND TRAINING 62707 62707 DUES AND SUBSCRIPTIONS 37858 5879 31979 34687161 32036321 2650840 0 2655842 1879977 815416 808158 687081 732280 227038462 36898368 193327468 190140094 20107728 19220523 8244042 7079150 225837577 219860182 2500744 1931881 111452770 123076730 121599816 118078840 261299 193719 22459 11354 6072000 6072000 9995900 10386608 251904988 259751132 X -26067411 -39890950 -26067411 -39890950 225837577 219860182 X -2184119 -38779 -11600641 X X 0 1 X 1 0 X 231537 192612 437831 1041096 2028517 3931593 25572967 28618288 28441669 30684480 29504030 142821434 25804504 28810900 28879500 31725576 31532547 146753027 138979 92421 305549 670415 1702725 2910089 0 138979 92421 305549 670415 1702725 2910089 143842938 419313 396013 390130 198640 158502 1562598 419313 396013 390130 198640 158502 1562598 718907 812473 898120 2172831 916428 5518759 26942724 30019386 30167750 34097047 32607477 153834384 0.93510 0.93990 0.01020 0.01380 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 14343480 14343480 207994622 33952546 174042076 4700360 2945822 1754538 190140094 ASSETS LIMITED AS TO USE 10257301 C STATUTORY LIQUID RESERVE 8963222 C 19220523 INTEREST PAYABLE ON BONDS 3072073 INTEREST PAYABLE ON NOTES 4227035 DEFERRED DEVELOPMENT FEES 3087500 10386608 X 32464263 -38779 -38779 32503042 0 32503042 34687161 0 34687161 0 34687161 PART IV, LINE 2B: DEPOSITS FROM PROSPECTIVE RESIDENTS CONSISTING OF RESERVATION FEE DEPOSITS ARE RECEIVED FROM PROSPECTIVE RESIDENTS PURSUANT TO THE EXECUTION OF THE RESIDENCY AGREEMENT AND GENERALLY REPRESENT 10% OF THE TOTAL ENTRANCE FEE FOR THE UNIT SELECTED. THE DEPOSITS ARE APPLIED TO THE TOTAL ENTRANCE FEE DUE UPON OCCUPANCY. PART X, LINE 2: THE CORPORATION HAS BEEN GRANTED EXEMPT STATUS RELATIVE TO FEDERAL AND STATE CORPORATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND APPLICABLE STATE CODES. THE CORPORATION FOLLOWS THE GUIDANCE IN THE INCOME TAX STANDARD REGARDING THE RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. THE GUIDANCE CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS. THE GUIDANCE FURTHER PRESCRIBES RECOGNITION AND MEASUREMENT OF TAX PROVISIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. THE APPLICATION OF THIS STANDARD HAS NO IMPACT ON THE CORPORATION'S FINANCIAL STATEMENTS. THE CORPORATION'S 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: NET UNREALIZED LOSS ON INVESTMENTS -38,779. X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 JUDITH MCGRUTHER CHIEF EXECUTIVE OFFICER 308790 0 71625 0 0 0 0 0 10429 0 390844 0 0 0 PETER FLEMING CHIEF FINANCIAL OFFICER 149198 0 28500 0 0 0 0 0 15536 0 193234 0 0 0 PART I, LINE 1A JUDITH MCGRUTHER RECEIVED A GROSS-UP PAYMENT TO COVER 'EXCESS' DISTRIBUTION FROM THE 403B PLAN OF $851.20. PETER FLEMING RECEIVED A GROSS-UP PAYMENT TO COVER 'EXCESS' DISTRIBUTION FROM THE 403B PLAN OF $290.41. THESE PAYMENTS ARE INCLUDED IN THEIR TAXABLE COMPENSATION FOR THE CALENDAR YEAR 2013. A MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 232241512 613609UP9 2005-02-07 179262187 CONSTRUCTION AND DEVELOPMENT OF CCRC 0 0 0 B MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 232241512 613609XP6 2008-04-03 6000000 CONSTRUCTION AND DEVELOPMENT OF CCRC 0 0 0 A 66047187 179262187 9517306 121186 1845973 167898908 2007 0 0 1 1 B 6000000 420000 120000 5460000 2008 0 0 1 1 A 0 1 0 0 0.00220 0.00000 0.00220 0 0 0 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 A 1 B 1 SCHEDULE K PART IV LINE 2C COL. A AND B THE REBATE COMPUTATION FOR THE 2005 AND 2008 BOND WAS PERFORMED ON FEBRUARY 1 OF 2014. X 1 1205633 FMV 1 0 0 0 FORM 990, PART VI, SECTION A, LINE 1 AN EXECUTIVE COMMITTEE AND/OR ANY OTHER STANDING OR TEMPORARY COMMITTEE, CONSISTING OF TWO (2) OR MORE TRUSTEES, MAY BE APPOINTED BY THE BOARD OF TRUSTEES FROM TIME TO TIME. EACH SUCH COMMITTEE SHALL HAVE AND EXERCISE SUCH AUTHORITY OF THE BOARD OF TRUSTEES ON BEHALF OF THE CORPORATION IN THE MANAGEMENT OF THE BUSINESS AND AFFAIRS OF THE CORPORATION AS THE BOARD MAY SPECIFIY IN THE RESOLUTION ESTABLISHING SUCH COMMITTEE OR AS THE BOARD BY RESOLUTION MAY SUBSEQUENTLY DETERINE, WHICH MAY INCLUDE ANY ACTION WHICH THE PENNSYLVANIA NONPROFIT CORPORATION LAW OF 1988 PROVIDES SHALL OR MAY BE TAKEN BY THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11 THE 990 IS REVIEWED WITH THE BOARD'S AUDIT COMMITTEE AT ONE OF THEIR REGULAR QUARTERLY MEETINGS AND THEN IT IS DISTRIBUTED TO THE WHOLE BOARD FOR THEIR REVIEW PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST STATEMENTS ARE COMPLETED ANNUALLY BY EACH BOARD MEMBER AND SUBMITTED TO THE GOVERNANCE COMMITTEE OF THE BOARD FOR THEIR REVIEW. BASED ON THEIR REVIEW, THE GOVERNANCE COMMITTEE DETERMINES WHETHER A POTENITAL OR ACTUAL CONFLICT OF INTEREST EXISTS AND SUBMITS THE MATTER TO THE FULL BOARD FOR THEIR CONSIDERATION. THE FULL BOARD THEN DECIDES WHAT ACTION SHOULD BE TAKEN IN RESPONSE TO THE CONFLICT WHICH MAY INCLUDE THE RESIGNATION FROM THE BOARD OF THE MEMBER WITH A CONFLICT. AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE BOARD OR COMMITTEE MEETING, BUT AFTER SUCH PRESENTATION, SUCH PERSON SHALL LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT THAT RESULTS IN THE CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE CEO IS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD BASED ON A REVIEW OF THE CEO'S PERFORMANCE RELATIVE TO THE ORGNANIZATION'S GOALS, A REVIEW OF THE COMPENSATION OF CEO'S FROM COMPARABLE NONPROFIT ORGANIZATIONS FROM THEIR FORM 990 AND A REVIEW OF RELVANT COMPENSATION SURVEY INFORMATION AND WITH THE ADVICE OF COUNSEL. THE COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES IS DETERMINED BY THE CEO BASED ON A REVIEW OF THE KEY EMPLOYEES PERFORMANCE RELATIVE TO THE ORGNANIZATION'S GOALS, A REVIEW OF COMPENSATION AT COMPARABLE NONPROFIT ORGANIZATIONS FROM THEIR FORM 990, A REVIEW OF RELEVANT SALARY SURVEYS AND WITH THE ADVICE OF THE EXECUTIVE COMMITTEE. COMPENSATION REVIEWS FOR OFFICERS AND KEY EMPLOYEES LAST OCCURRED IN 2013. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S FINANCIAL STATEMENTS ARE POSTED TO A FINANCIAL DISCLOSURE WEB SITE, INCLUDED WITH THE PUBLICLY AVAILABLE DISCLOSURE STATEMENT OF THE COMMUNITY AND DISTRIBUTED UPON REQUEST TO ALL RESIDENTS OF THE COMMUNITY. FORM 990, PART XI, LINE 9: PRIOR YEAR ADJUSTMENT DUE TO ACCOUNTING STANDARD UPDATE ASU 2012-01 -11,600,641. FORM 990, PART XII, LINE 2C THE PROCESS FOR OVERSIGHT OF THE AUDIT HAS NOT CHANGED SINCE THE PRIOR YEAR.