2013-10-01T16:22:39-05:00 2012-12-31 520783935 SMITH ELLIOTT KEARNS & COMPANY LLC 480 N POTOMAC STREET HAGERSTOWN MD 21740 990 2012-01-01 520610464 FAHRNEY-KEEDY MEMORIAL HOME INC AKA FAHRNEY-KEEDY HOME AND VILLAGE FAHR 3017336284 8507 MAPLEVILLE ROAD BOONSBORO MD 217131844 WAYNE STOUFFER 3017336284 2013-09-24 1 TIMOTHY E PETERS CPA P00957675 3017335020 2012 2016-02-25 16:41:14Z KEITH BRYAN 8507 MAPLEVILLE ROAD BOONSBORO MD 21713 13296282 0 X WWW.FKHV.ORG X 1905 MD CONTINUING CARE RETIREMENT COMMUNITY, INDEPENDENT LIVING, ASSISTED LIVING, AND NURSING CARE 13 13 257 135 0 0 541331 444404 11890509 12682251 59691 -177526 7691 9157 12499222 12958286 0 0 0 0 6884535 7592262 0 0 79318 4524887 5163221 11409422 12755483 1089800 202803 19123788 20793956 6645113 9122883 12478675 11671073 X WE ARE COMMITTED TO ENHANCING THE LIVES OF SENIORS THROUGH CARING QUALITY SERVICES. WE ARE A CONTINUING CARE RETIREMENT COMMUNITY (CCRC) WITH INDEPENDENT LIVING SERVICES, ASSISTED LIVING SERVICES, AND NURSING SERVICES.THE ORGANIZATION HAS 36 INDEPENDENT LIVING COTTAGES, 26 INDEPENDENT LIVING APARTMENTS, 32 ASSISTED LIVING BEDS, AND A 106 BED SKILLED NURSING FACILITY LOCATED IN BOONSBORO, MARYLAND. 0 0 6429834 9742464 NURSING SERVICES TO PRIVATE PAY, MEDICARE, AND MEDICAID RESIDENTS. 734283 1738243 ASSISTED LIVING SERVICES. 567468 985071 INDEPENDENT LIVING SERVICES. 3873705 216473 ALL OTHER SERVICES INCLUDE EXECUTIVE MANAGEMENT SERVICES, BUSINESS SUPPORT SERVICES, OTHER PATIENT CARE EXPENSES, DIETARY SERVICES, AND PROPERTY SERVICES. 3873705 216473 11605290 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 29 0 1 257 1 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 0 0 0 1 1 0 0 1 0 1 1 1 0 0 MD X WAYNE STOUFFER 3017336284 8507 MAPLEVILLE ROAD BOONSBORO MD 21713 LERRY FOGLE 8.00 X X 0 0 0 LARRY DEVAN 2.00 X X 0 0 0 JOSEPH DAHMS 2.00 X 0 0 0 ELLEN CATLETT 2.00 X 0 0 0 WILLIAM WANTZ 2.00 X 0 0 0 CHARLES WILES 2.00 X 0 0 0 DONNA RITCHEY MARTIN 2.00 X 0 0 0 ED BREWER 2.00 X 0 0 0 LOYAL VANDERVEER 2.00 X 0 0 0 PHIL ZIMMERMAN 2.00 X 0 0 0 PAT LINTON 2.00 X 0 0 0 MARK HERR 2.00 X 0 0 0 GIL CRUMRINE 2.00 X 0 0 0 KEITH BRYAN 40.00 X 95004 0 0 MICHAEL LEITER 40.00 X 68737 0 8638 WAYNE STOUFFER 40.00 X 63982 0 2881 MICHELLE MAHN 40.00 X 105368 0 4436 333091 0 15955 1 0 0 0 0 444404 444404 PATIENT SERVICE 623000 11480707 11480707 AMORTIZATION OF ENTRANCE FEES 623000 704952 704952 INDEPENDENT LIVING 623000 280119 280119 MISCELLANEOUS PROGRAM SERVICE 623000 216473 216473 12682251 53608 53608 100000 3850 100000 234984 0 -231134 -231134 -231134 12169 3012 9157 9157 12958286 12682251 0 -168369 X 239242 20733 184308 34201 5529609 5012061 475060 42488 26736 22264 4472 1377354 1318512 58842 419321 371353 45339 2629 38346 38346 9166 6010 3156 50620 50620 1830850 1796630 34220 40700 1221 39479 511571 480003 31568 53232 53232 512839 495403 17436 39061 36012 3049 8767 6624 2143 129760 123090 6670 531486 509250 22236 86606 82154 4452 REPAIRS & MAINTENANCE 447702 438245 9457 FOOD COSTS 338222 338222 PRESCRIPTION DRUGS 246049 246049 BAD DEBTS 211766 211766 76478 51342 25136 12755483 11605290 1070875 79318 480794 499098 2727414 2741007 966084 1156825 91030 78722 19886940 9532140 7969878 10354800 726035 550875 28601 272761 6133952 5139868 19123788 20793956 702000 734500 2794612 3040170 2863246 5003316 285255 344897 6645113 9122883 X 6275039 6518096 6203636 5152977 12478675 11671073 19123788 20793956 202803 331914 -1342319 0 X X 0 1 X 1 1 1 X 230779 253091 264986 541331 444404 1734591 10376080 10521938 10674341 11902907 12694420 56169686 10606859 10775029 10939327 12444238 13138824 57904277 0 0 0 57904277 108130 61177 30858 63533 53608 317306 108130 61177 30858 63533 53608 317306 136479 136479 10851468 10836206 10970185 12507771 13192432 58358062 0.99220 0.98850 0.00540 0.00730 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 754636 73902 4902 823636 756179 5910 7453 754636 662167 94012 756179 510455 165112 13400 662167 833894 -252115 71324 510455 1.00000 0 0 10284 10284 13981846 7610944 6370902 1684170 1259506 424664 4210640 661690 3548950 10354800 BENEFICIAL INTEREST IN TRUSTS 4152977 OPERATING RESERVE 925245 DEFERRED COSTS, NET 61646 5139868 ESTIMATED UNREPORTED CLAIMS 188914 CAPITAL LEASE 155983 344897 X 13293212 331914 3012 334926 12958286 0 12958286 12758495 3012 3012 12755483 0 12755483 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE HOME HAS A DONOR-RESTRICTED ENDOWMENT FUND, OF WHICH THE ORIGINAL PRINCIPAL PORTION OF THE FUND IN THE AMOUNT OF $1,000,000 MAY NOT BE EXPENDED. THE INCOME EARNED ON THE ENDOWMENT FUND, INCLUDING APPRECIATION, IS EXPENDABLE, BUT ONLY FOR THE MAINTENANCE AND REPAIR OF THE HOME'S FACILITIES, AS REQUIRED BY THE DONOR. ASC 958 PROVIDES GUIDANCE ON THE NET ASSET CLASSIFICATION OF DONOR RESTRICTED ENDOWMENT FUNDS FOR A NOT-FOR-PROFIT ORGANIZATION THAT IS SUBJECT TO AN ENACTED VERSION OF THE UNIFORM PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS ACT OF 2006 (UPMIFA). ASC 958 ALSO REQUIRES DISCLOSURES ABOUT AN ORGANIZATION'S ENDOWMENT FUNDS (BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND BOARD DESIGNATED ENDOWMENT FUNDS), WHETHER OR NOT THE ORGANIZATION IS SUBJECT TO UPMIFA. PERMANENTLY RESTRICTED NET ASSETS REPRESENT THE FAIR VALUE OF THE ORIGINAL GIFT AS OF THE GIFT DATE AND THE ORIGINAL VALUE OF SUBSEQUENT GIFTS TO DONOR-RESTRICTED ENDOWMENT FUNDS. ENDOWMENT INVESTMENT AND SPENDING POLICY: THE HOME'S INVESTMENT POLICY IS TO PROVIDE A COMMON INVESTMENT VEHICLE, WHICH WILL GENERAGE A STABLE AND CONTINUOUSLY GROWING INCOME STREAM TO SUPPORT OPERATIONS. THE OVERALL INVESTMENT GOAL IS TO PRESERVE THE PURCHASING POWER OF THE FUTURE STREAM OF ENDOWMENT PAYOUT FOR THOSE FUNDS. OTHER GOALS INCLUDE MAXIMIZING RETURN WITHIN REASONABLE AND PRUDENT LEVELS OF RISK AND MAXIMIZING THE VALUE OF THE ENDOWMENT WHILE MAINTAINING LIQUIDITY NEEDED TO SUPPORT SPENDING IN PROLONGED DOWN MARKETS. THE HOME SEEKS A RETURN ON INVESTMENT CONSISTENT WITH LEVELS OF INVESTMENT RISK THAT ARE PRUDENT AND REASONABLE GIVEN MEDIUM-TO-LONG-TERM CAPITAL MARKET CONDITIONS AND THE INVESTMENT OBJECTIVES. THE HOME HAS BEEN ENABLED BY DONORS TO SPEND THE INTEREST AND DIVIDENDS DERIVED FROM THE ENDOWMENT FUND ON ITS OPERATIONS. FROM TIME TO TIME, THE FAIR VALUE OF ASSETS ASSOCIATED WITH INDIVIDUAL DONOR-RESTRICTED ENDOWMENT FUNDS MAY FALL BELOW THE LEVEL THAT THE DONOR REQUIRES THE HOME TO RETAIN AS A FUND OF PERPETUAL DURATION. IN ACCORDANCE WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA, DEFICIENCIES OF THIS NATURE THAT ARE REPORTED IN UNRESTRICTED NET ASSETS WERE $(176,364) AND $(245,364) AS OF DECEMBER 31, 2012 AND 2011, RESPECTIVELY. THESE DEFICIENCIES RESULTED FROM UNFAVORABLE MARKET FLUCTUATIONS THAT OCCURRED SHORTLY AFTER THE INVESTMENT OF NEW PERMANENTLY RESTRICTED CONTRIBUTIONS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE HOME FOLLOWS THE FASB ACCOUNTING STANDARDS CODIFICATION, WHICH PROVIDES GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTERPRISE'S FINANCIAL STATEMENTS. AS OF DECEMBER 31, 2012 AND 2011, THE HOME HAD NO UNCERTAIN TAX POSITIONS THAT REQUIRE EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE HOME'S POLICY IS TO RECOGNIZE INTEREST AND PENALTIES ON UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IN THE FINANCIAL STATEMENTS. NO INTEREST AND PENALTIES WERE RECORDED DURING THE YEARS ENDED DECEMBER 31, 2012 AND 2011. GENERALLY, THE TAX YEARS BEFORE 2009 ARE NO LONGER SUBJECT TO EXAMINATION BY FEDERAL, STATE OR LOCAL TAXING AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EXPENSE REPORTED ON PART VIII, LINE 8B 3,012. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EXPENSE REPORTED ON PART VIII, LINE 8B 3,012. FORM 990, PART VI, SECTION B, LINE 11 THE BOARD MEETS SEMI-MONTHLY AND THE 990 INFORMATION IS PROVIDED AT THEIR NEXT MEETING AFTER THE 990 IS RECEIVED. FORM 990, PART VI, SECTION B, LINE 12 THE ORGANIZATION IS CURRENTLY WORKING ON A WRITTEN CONFLICT OF INTEREST POLICY. CURRENTLY, THERE IS NO WRITTEN POLICY BUT BOARD MEMBERS ARE TO IDENTIFY ANY CONFLICTS OF INTEREST PRIOR TO VOTING. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS AND SUBMITTED IN A LETTER BY THE PRESIDENT OF THE BOARD OF DIRECTORS TO THE ACCOUNTING DEPARTMNET. FORM 990, PART VI, SECTION C, LINE 18 DOCUMENTS FOR PUBLIC INSPECTION ARE AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE FOR INSPECTION IN THE ACCOUNTING OFFICE AND THE CEO'S OFFICE. OTHER FEES FORM 990, PART IX, LINE 11G OCCUPATIONAL THERAPY - MEDICARE: PROGRAM SERVICE EXPENSES 321,080. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 321,080. PHYSICAL THERAPY - MEDICARE: PROGRAM SERVICE EXPENSES 374,106. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 374,106. SPEECH THERAPY - MEDICARE: PROGRAM SERVICE EXPENSES 64,029. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 64,029. DIETARY SERVICE: PROGRAM SERVICE EXPENSES 574,551. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 574,551. LAB CHARGES: PROGRAM SERVICE EXPENSES 70,870. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 70,870. OTHER FEES FOR SERVICE: PROGRAM SERVICE EXPENSES 391,994. MANAGEMENT AND GENERAL EXPENSES 34,220. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 426,214. FORM 990, PART XI, LINE 2C, OVERSIGHT OF AUDIT: UNCHANGED FROM PRIOR YEARS, THE OVERSIGHT OF THE AUDIT OF THE FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT IS THE RESPONSIBILITY OF THE DIRECTOR OF ACCOUNTING, THE ASSISTANT DIRECTOR OF ACCOUNTING, AND THE SENIOR DIRECTOR OF ADMINISTRATIVE SERVICES.