2013-10-28T12:18:32-05:00 2013-06-30 593070669 MOORE STEPHENS LOVELACE PA 311 PARK PLACE BLVD SUITE 100 CLEARWATER FL 33759 990 2012-07-01 590624420 PENNEY RETIREMENT COMMUNITY INC PENN 9042848200 P O BOX 555 PENNEY FARMS FL 320790555 ROBERT RIGEL 9042848200 2013-10-28 1 MELANIE A MCPEAK P01346034 7275314477 2012 2016-03-07 17:11:31Z ROBERT RIGEL P O BOX 555 PENNEY FARMS FL 320790555 11242444 0 X WWW.PENNEYRETIREMENTCOMMUNITY.ORG X 1965 FL PENNEY RETIREMENT COMMUNITY SERVES SENIORS WHO DESIRE TO LIVE THE FINAL THIRD OF THEIR LIVES IN A CHRISTIAN ENVIRONMENT. PROGRAMS AND SERVICES, INCLUDING HEALTH CARE, ARE PROVIDED TO ENHANCE DAILY LIVING AND DIMINISH FEARS OF THE FUTURE. 18 18 220 280 0 0 423362 436247 9683534 10559207 197029 204584 45458 42406 10349383 11242444 0 0 0 0 5361262 5630840 0 0 0 4824555 5355870 10185817 10986710 163566 255734 34537298 36274892 23690399 25086055 10846899 11188837 PENNEY RETIREMENT COMMUNITY IS AN INCLUSIVE CHRISTIAN COMMUNITY SEEKING THE ABUNDANT LIFE IN RETIREMENT LIVING. 0 0 9745907 10601613 THE ORGANIZATION PROVIDES HOUSING, HEALTH CARE AND OTHER RELATED SERVICES THROUGH THE OPERATION OF A RETIREMENT COMMUNITY. THE COMMUNITY INCLUDES 287 APARTMENTS AND HOMES, A 20-BED ALZHEIMER'S HEALTHCARE CENTER, 55 INDEPENDENT LIVING UNITS OFFERING ASSISTIVE SERVICES AND A LICENSED SKILLED NURSING CENTER WITH A CAPACITY OF 40 RESIDENTS. THE COMMUNITY ALSO INCLUDES RECREATIONAL AMENITIES, INCLUDING A NINE-HOLE GOLF COURSE, INDOOR SWIMMING POOL, FITNESS CENTER, ART STUDIO, CRAFT FACILITIES, LIBRARIES AND DINING FACILITIES. 9745907 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 0 1 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 1 0 0 0 0 1 97 0 1 220 1 0 0 0 0 0 0 0 0 0 0 X 18 18 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X ROBERT RIGEL 9042848200 PO BOX 555 PENNEY FARMS FL 32079 DAVID L ALLEN 2.00 X 0 0 0 NORMAN S BEYER 2.00 X X 0 0 0 BURNEY BIVENS ESQ 2.00 X 0 0 0 JAMES A CHESTER 2.00 X X 0 0 0 SANDRA B BONNA 2.00 X 0 0 0 MICHAEL T HAMMOCK 2.00 X X 0 0 0 FRANCES L IRVINE 2.00 X X 0 0 0 WALTER I JACOBY 2.00 X X 0 0 0 EDWIN RUSSELL MEGONEGAL 2.00 X 0 0 0 JOHN C MYERS III 2.00 X 0 0 0 DR WILLIAM L PROCTOR 2.00 X 0 0 0 VIOLA M ANDERSON 2.00 X 0 0 0 THOMAS K GORDON 2.00 X 0 0 0 DAVID A MCINNES 2.00 X 0 0 0 CATHERINE G PARROTT 2.00 X 0 0 0 LYNN A AUBEL 2.00 X 0 0 0 WARREN W STEVENSON 2.00 X 0 0 0 JAMES M WEBB 2.00 X 0 0 0 JERRY K WILLIAMS 2.00 X 0 0 0 ROBERT R RIGEL 40.00 X 138944 0 23023 WILLIAM D FISH 40.00 X 86841 0 12714 225785 0 35737 1 0 1 0 JAMES DEAN MASONRY INC 3750 CR 315-A GREEN COVE SPRINGS FL 32043 CONSTRUCTION/RENOVATION 346912 CHANEY'S HOME IMPROVEMENT 116 N ORANGE AVE GREEN COVE SPRINGS FL 32043 CONSTRUCTION/RENOVATION 135705 2 436247 436247 HOUSING 623000 4837117 4837117 NURSING 623000 4652377 4652377 RESIDENTS SERVICE 623000 536121 536121 FOOD SERVICE 623000 530010 530010 OTHER 623000 3582 3582 10559207 145936 145936 58648 0 58648 58648 58648 OTHER INCOME 623000 42406 42406 42406 11242444 10601613 0 204584 232341 232341 4155188 3786276 368912 149475 140549 8926 717816 658583 59233 376020 330921 45099 47926 47926 193128 128000 65128 67089 67089 77892 52588 25304 1152428 1013349 139079 2778 2778 440924 440924 1748420 1668008 80412 215364 200891 14473 FOOD 502047 501138 909 EQUIPMENT RENTAL & MAIN 310254 298092 12162 SUPPLIES 255436 255436 PHARMACY 169899 169899 172285 101253 71032 10986710 9745907 1240803 0 167664 215822 14261 582034 1043943 107495 117263 875 890 45060273 20421528 24415679 24638745 9193747 10191987 69804 51981 34537298 36274892 836670 955044 15337491 16483403 4365000 4165000 3151238 3482608 23690399 25086055 X 9014187 9143533 748002 903185 1084710 1142119 10846899 11188837 34537298 36274892 X 255734 72658 13546 X X 0 1 X 1 0 X 354558 489071 859702 423362 436247 2562940 8393284 8846845 9197976 9683534 10559207 46680846 8747842 9335916 10057678 10106896 10995454 49243786 0 334081 366245 229881 306801 853447 2090455 334081 366245 229881 306801 853447 2090455 47153331 67227 63809 188654 179905 145936 645531 67227 63809 188654 179905 145936 645531 28469 24706 35011 45458 42406 176050 8843538 9424431 10281343 10332259 11183796 50065367 0.94180 0.93750 0.01290 0.01640 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1084710 57409 1142119 1111681 -26971 1084710 963628 148053 1111681 864947 98681 963628 1047159 -182212 864947 1.00000 0 0 1527944 1527944 39146923 17729867 21417056 3642350 2453202 1189148 743056 238459 504597 24638745 CASH AND CASH EQUIVALENTS 2952695 F U.S. GOVERNMENT AND AGENCY OBLIGATIONS 2266688 F DEBT SECURITIES 643077 F MUTUAL FUNDS - EQUITY SECURITIES 2039083 F MUTUAL FUNDS - DEBT SECURITIES 1886333 F BOND FUNDS 404111 F 10191987 DEPOSITS 294950 REFUNDABLE ENTRANCE FEES 310617 CHARITABLE ANNUITY OBLIGATION 478877 ACCRUED GIFT BONDS 2398164 3482608 10885974 72658 72658 10813316 429128 429128 11242444 10499959 0 10499959 486751 486751 10986710 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE COMMUNITY'S SPENDING POLICY OBJECTIVE IS TO PROTECT THE VALUE AND GROW THE ENDOWMENT FUNDS TO PROVIDE FUTURE CASH FLOWS FOR OPERATONS, GIFT BOND REDEMPTIONS AND OTHER STIPULATED PURPOSES. PART XI, LINE 4B - OTHER ADJUSTMENTS: RESIDENTS AID FUND OF PRC, LLC - TOTAL REVENUE 166,872. ASSOCIATION OF PRC RESIDENTS, LLC - TOTAL REVENUE 262,256. PART XII, LINE 4B - OTHER ADJUSTMENTS: RESIDENTS AID FUND OF PRC, LLC - TOTAL EXPENSES 245,910. ASSOCIATION OF PRC RESIDENTS, LLC - TOTAL EXPENSES 240,841. X X X 0 0 0 0 0 0 0 0 0 ROBERT R RIGEL 138944 0 0 0 0 0 7009 0 16014 0 161967 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 PER PRC POLICY, THE BOARD CHAIRMAN WILL REVIEW THE ENTIRE FORM 990 WITH ALL BOARD MEMBERS BEFORE IT IS FILED WITH THE IRS. THE CHAIRMAN WILL CONFIRM IN WRITING THAT THE 990 WAS REVIEWED. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ARE REQUIRED TO AFFIRM ANNUALLY IN WRITING THAT THEY ARE NOT AWARE OF ANY CONFLICTS OF INTEREST WITHIN THE ORGANIZATION. EMPLOYEES SIGN THAT THEY HAVE READ THE POLICY UPON HIRE. THE POLICY IS REVIEWED PERIODICALLY. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION'S COMPENSATION POLICY REQUIRES THE PRESIDENT'S COMPENSATION BE DETERMINED BY THE DIRECTORS USING COMPARABILITY DATA GATHERED FROM OTHER RETIREMENT COMMUNITIES. ALL DIRECTORS ARE INDEPENDENT WITH REGARD TO THE COMPENSATION AND THE DELIBERATION AND DECISION ARE DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE AT THE CORPORATE OFFICE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: TRANSFER OUT - CHANGE OF NET ASSETS OF RESIDENTS AID FUND -62,078. TRANSFER IN - CHANGE OF NET ASSETS OF ASSOCIATES OF PRC 18,000. NET INCOME - RESIDENT AIDS FUND, LLC 79,038. NET INCOME - ASSOCIATION OF PRC, LLC -21,414. OVERSIGHT OF THE AUDIT FORM 990, PART XII, LINE 2C THE ORGANIZATION'S AUDIT COMMITTEE IS RESPONSIBLE FOR THE SELECTION, MONITORING AND EVALUATION OF AN INDEPENDENT AUDIT FIRM AND OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS. THERE WAS NO CHANGE IN THIS PROCESS FROM THE PRIOR YEAR. ASSOCIATION OF PENNEY RETIREMENT COMMUNITY RESIDENTS LLC PO BOX 555 PENNEY FARMS FL 32079 273142533 SUPPORT THE RESIDENTS OF PENNEY RETIREMENT COMMUNITY FL 262257 257868 PENNEY RETIREMENT COMMUNITY RESIDENTS' AID FUND OF PENNEY RETIREMENT COMMUNITY LLC PO BOX 555 PENNEY FARMS FL 32079 SUPPORT THE RESIDENTS OF PENNEY RETIREMENT COMMUNITY FL 166872 268767 PENNEY RETIREMENT COMMUNITY