2013-11-15T13:40:25-06:00 2012-12-31 BDO USA LLP 200 OTTAWA AVE NW STE 300 GRAND RAPIDS MI 49503 990 2012-01-01 383087328 HENRY FORD VILLAGE INC % DAVID HENRY HENR 3135841000 15101 FORD ROAD Suite DEARBORN MI 48126 BRUCE BLALOCK 3135841000 2013-11-15 true Kathleen Guider 6167747000 2012 2016-03-07 17:11:31Z BRUCE BLALOCK 15101 FORD ROAD DEARBORN MI 48126 45261075 false X N/A X 1992 MI PROMOTION OF HEALTH FOR THE ELDERLY BY PROVIDING A CONTINUING CARE RESIDENTIAL COMMUNITY LOCATED IN DEARBORN, MICHIGAN WITH RECREATIONAL, SOCIAL, AND RELIGIOUS ACTIVITES FOR RESIDENTS. 9 9 712 350 0 372331 407247 36721957 36935849 1242683 407154 -19371 115769 38317600 37866019 0 0 0 0 18405022 17550085 0 0 0 19013452 19795988 37418474 37346073 899126 519946 115565326 111684345 135454346 131110023 -19889020 -19425678 PROMOTION OF HEALTH FOR THE ELDERLY BY PROVIDING A CONTINUING CARE RESIDENTIAL COMMUNITY LOCATED IN DEARBORN, MICHIGAN WITH RECREATIONAL, SOCIAL, AND RELIGIOUS ACTIVITIES FOR RESIDENTS. false false 33264504 36935849 HENRY FORD VILLAGE, INC. IS A MICHIGAN NON-STOCK CORPORATION ESTABLISHED TO OPERATE A NOT-FOR-PROFIT CONTINUING CARE RETIREMENT COMMUNITY LOCATED IN DEARBORN, MICHIGAN. THE PROPERTY IS PRESENTLY ZONED FOR 856 INDEPENDENT LIVING UNITS (INCLUDING TWO GUEST ROOMS AND TWO MODELS), 96 ASSISTED LIVING UNITS, AND 89 SKILLED NURSING BEDS. AS OF DECEMBER 31, 2012 THERE WERE 826 OCCUPIED UNITS, WHICH CONSISTED OF 654 INDEPENDENT LIVING UNITS, 84 ASSISTED LIVING UNITS, AND 88 SKILLED NURSING BEDS. 33264504 true true false false false false false false true true true false false true true true 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 true false false false true X 58 0 true 712 true false false false false true true false false false false false X 9 9 false true false false false false false true true false false false true true true true true true true false MI X DAVID HENRY 3138467270 15101 FORD ROAD DEARBORN MI 48126 JOHN BYRNE 4.0 X GARY KUHLMANN 4.0 X STEVE CHOWEN 4.0 X BOB MUELLER 4.0 X GARY GLENN 4.0 X DR KAREN ROSS 4.0 1.0 X MARK GUIDO 4.0 X WALTER TALAMONTI MD 4.0 X KEN HOLLOWAY 4.0 X LYNN FORD ALANDT 4.0 X BRUCE BLALOCK 4.0 X 7625 STAN CLOUSE 40.0 1.0 X 202966 0 22716 JENNIE KLEPINGER 40.0 X 120464 0 11261 SANDRA KRAVITZ 40.0 X 93960 10440 LESLIE SHANLIAN 40.0 X 110098 12903 535113 0 57320 3 false true false LIFE CARE SERVICES LLC CAPITAL SQUARE 400 LOCUST SUITE 8 DES MOINES IA 503092334 MANAGEMENT SERVICES 1160667 DRIVEN SOLUTIONS 320 W NINE MILE ROAD SUITE B FERNDALE MI 48220 ADVERTISING/MARKET. 337627 TOP FABRICATORS 3726 MONROE DEARBORN MI 48124 INSTALLATION 639273 GLYNNDEVINS ADVERTISING MARKETING 11230 COLLEGE BOULEVARD OVERLAND PARK KS 66210 ADVERTISING/MARKET. 316328 HERITAGE HEALTHCARE INC 536 OLD HOWELL ROAD GREENVILLE SC 29615 REHABILITATION 585180 13 200000 207247 407247 NON-REFUNDABLE DEPOSIT 623000 1298290 1298290 OCCUPANCY REVENUE 623000 25226589 25226589 ANCILLARY FEES 623000 6908041 6908041 RESIDENT FEE AMORTIZATION 623000 3228768 3228768 CLINIC REVENUE 623000 120000 120000 154161 154161 36935849 244183 244183 0 0 0 0 0 7558027 7395056 162971 162971 162971 0 0 0 COLLECTIONS FOR EMPLOYEE BONUSES 623000 115769 115769 115769 37866019 36935849 522923 0 0 0 0 0 0 0 0 593060 0 593060 0 0 0 0 0 13562125 12017520 1544605 0 0 0 0 0 2226539 1972956 253583 0 1168361 1035295 133066 0 582399 0 582399 0 250314 221805 28509 0 83385 73888 9497 0 0 0 0 0 0 0 40324 35731 4593 0 1368993 1213077 155916 0 1030191 912861 117330 0 239072 211844 27228 0 207698 184043 23655 0 0 0 0 0 1875204 1875204 0 0 74015 65585 8430 0 0 0 0 0 0 0 0 0 2882335 2882335 0 0 0 0 0 0 4909154 4909154 0 0 470584 470584 0 0 BLDG, GROUNDS & MAINTENANCE 1015502 899845 115657 0 RESIDENT RELATIONS 39613 35101 4512 0 REAL ESTATE TAXES 516782 516782 0 0 SUPPLIES 3715498 3292336 423162 0 494925 438558 56367 37346073 33264504 4081569 0 X 939540 2067468 3090662 1709850 0 0 2643634 3509165 0 0 0 0 683077 658077 125084 129754 635241 712511 157499351 65272940 95422012 92226411 9220221 2278020 0 0 0 0 0 0 2805855 8393089 115565326 111684345 3985292 4727356 0 0 0 0 41561628 41202384 890023 839869 0 0 0 0 0 0 89017403 84340414 135454346 131110023 X -20122563 -19553750 233543 128072 0 0 -19889020 -19425678 115565326 111684345 X 519946 46909 -103513 X false true X true false X 53861 58514 19513 372331 407247 911466 37070973 38253483 37071718 36721957 36821693 185939824 0 0 0 37124834 38311997 37091231 37094288 37228940 186851290 0 0 0 0 0 186851290 546176 530106 537747 475864 358339 2448232 0 546176 530106 537747 475864 358339 2448232 0 0 0 -130510 -19371 115769 -34112 37671010 38842103 37498468 37550781 37703048 189265410 0.98725 0.98438 0.01294 0.01641 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true X 233543 116408 -103513 118366 128072 221620 111704 24659 124440 233543 -4090 157031 229794 161115 221620 88701 132475 -73678 151588 -4090 235262 122547 -145116 123992 88701 1.00000 false false 4992523 4992523 143775823 57934207 85841616 0 0 0 4972294 4427386 544908 3758711 2911347 847364 92226411 INTEREST IN CHARITABLE FOUND. 88375 BOARD-DESIGNATED FUNDS 5891324 LINE 11 INVESTMENTS -2278020 OF AMORTIZATION 820694 RESTRICTED FUNDS 3759276 DEFERRED TRANSITION COSTS 111440 8393089 0 RESIDENT DEPOSITS 82092279 FUNDS HELD FOR RESIDENTS 79418 REFUNDS DUE TO RESIDENTS 1692343 CLAIMS RESERVE 312374 ACCOUNTS PAYABLE - RELATED PARTY 164000 84340414 X 36674814 118366 118366 36556448 1309571 1309571 37866019 36152910 36152910 1193163 1193163 37346073 RECONCILIATION OF REVENUE SCHEDULE D, PART XI, LINES 2D AND 4B OTHER AMOUNTS INCLUDED IN AUDIT INCOME BUT NOT FORM 990 INCOME INCLUDE ASSETS RELEASED FROM RESTRICTIONS OF $118,366 THAT WERE RECORDED AS CONTRIBUTION INCOME IN PRIOR YEAR(S). OTHER AMOUNTS INCLUDED IN FORM 990 INCOME BUT NOT IN AUDIT INCOME INCLUDE $162,971 OF REALIZED CAPITAL GAIN, $1,030,192 OF AMORTIZED RESIDENT DEPOSITS, AND $116,408 OF TEMPORARILY RESTRICTED CONTRIBUTIONS. RECONCILIATION OF EXPENSES SCHEDULE D, PART XII, LINE 4B OTHER AMOUNTS INCLUDED IN FORM 990 EXPENSES BUT NOT IN AUDIT EXPENSES INCLUDE $162,971 OF REALIZED CAPITAL GAIN THAT REDUCED AUDIT EXPENSES, AND $1,030,192 OF MARKETING EXPENSE. FIN 48 DISCLOSURE SCHEDULE D, PART XIV IN 2008, HENRY FORD VILLAGE, INC. ADOPTED FINANCIAL ACCOUNTING STANDARDS BOARD'S (FASB) STANDARD RELATED TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE ADOPTION OF THIS STANDARD DID NOT HAVE A MATERIAL EFFECT ON THE FINANCIALS STATEMENTS AND HFV DID NOT HAVE ANY MATERIALLY UNCERTAIN TAX POSITIONS. THE COMMUNITY IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND THE APPLICABLE MICHIGAN STATE INCOME TAX REGULATIONS. IN ADDITION, THE COMMUNITY QUALIFIES FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER SECTION 170(B)(1)(A) AND HAS BEEN CLASSIFIED AS AN ORGANIZATION OTHER THAN A PRIVATE FOUNDATION UNDER SECTION 509(A)(2). ENDOWMENT FUNDS SCHEDULE D, PART V, LINE 4 HENRY FORD VILLAGE, INC. ADMINISTERS THREE ENDOWMENT FUNDS WITH THE PURPOSE TO CARRY OUT THE CHARITABLE PURPOSE OF HENRY FORD VILLAGE, INC.: 1) THE BENEVOLENT CARE FUND, 2) THE SCHOLARSHIP FUND, AND 3) THE STAFF APPRECIATION FUND. THE TOTAL ASSETS IN ALL THREE FUNDS AT 12/31/2012 WAS $128,072, which is comprised of $39,380 in the staff appreciation fund, $317 IN THE SCHOLARSHIP FUND, and a $88,375 interest in the net assets of the henry ford village foundation. ESCROW ACCOUNTS SCHEDULE D, PART IV, LINE 2B Residents are required to remit entrance deposits, which may vary in amount depending upon the unit to be occupied. Prospective residents are required to make certain installment payments prior to the final settlement of the given unit. These amounts are included in escrow cash and advance deposits in the accompanying balance sheets. Deposit timing differences may cause escrow cash not to be equal to advance deposits. As of 12/31/2012, Escrow cash and advance deposits were $1,006,835 and $839,869, respectively. X X false false false false false false false false false STAN CLOUSE 153384 0 49582 0 0 0 10646 0 12070 225682 0 CONTINGENT FEES BASED ON REVENUE SCHEDULE J, LINE 5A On December 1, 2010, HFV contracted with Life Care Services (LCS) for management services. The LCS contract term is for five years. HFV pays a monthly management fee equal to the greater of $50,000 or 2% of operating revenues through May 31, 2011. Management fees due on and after June 1, 2011 will vary based upon quarterly operating results of the prior period. For the period December 1, 2011 through November 30, 2012, management fees paid will not be less than $450,000 and will not exceed $899,000. In subsequent years, the minimum and maximum payment shall be adjusted based on an agreed-upon index. MANAGEMENT FEES PAID TO LCS WERE $582,399 AND $628,286 DURING 2012 AND 2011, RESPECTIVELY. The executive director, associate executive director, administrator, and IT director are employees of LCS, but their salaries and related employee benefits are reimbursed by HFV. REIMBURSEMENT PAID TO LCS FOR LCS EMPLOYEES IN 2012 TOTALED $593,060. Other corporate services that HFV may obtain are not required contractually and will be on an as-needed basis. A EDC OF CITY OF DEARBORN 521310485 242563AWY 2008-10-01 42535000 REFINANCE A 1998 VAR. RATE BOND true false false A 0 0 41842922 3317550 0 34540625 836858 0 0 3147889 0 3984747 2008 true false true true A false false false false 0.00000 0.00000 0.00000 false false 0.00000 false false A true false false 0 false 0 false false A false FORM 990 REVIEW PROCESS FORM 990, PART VI, SECTION B, LINE 11B DAVID HENRY (DIRECTOR OF FINANCE) AND A MEMBER OF THE FINANCE COMMITTEE OF THE BOARD OF DIRECTORS REVIEW THE 2012 form 990 PRIOR TO FILING. CONFLICT OF INTEREST POLICY MONITORING AND COMPLIANCE FORM 990, PART VI, SECTION B, LINE 12C COMPLIANCE WITH THE CONFLICT OF INTEREST, WHISTLEBLOWER, AND DOCUMENT RETENTION AND DESTRUCTION POLICIES WAS MONITORED BY THE MANAGEMENT COMPANY, LIFE CARE SERVICES, LLC. BOARD MEMBERS SIGN A CONFLICT OF INTEREST FORM ON AN ANNUAL BASIS. COMPENSATION DETERMINATION PROCESS FORM 990, PART VI, SECTION B, LINE 15A/B MANAGEMENT (HENRY FORD VILLAGE, INC. & LIFE CARE SERVICES, LLC) CONDUCTS MARKET SURVEYS ON AN ANNUAL BASIS TO DETERMINE IF AN EQUITY ADJUSTMENT IS NEEDED. BASED ON THIS INFORMATION MANAGEMENT RECOMMENDS ANNUAL SALARIES, TYPICALLY A PERCENTAGE INCREASE FROM THE PRIOR YEAR. THE BOARD APPROVES THE BUDGET ON AN ANNUAL BASIS. PROMISSORY NOTES RECEIVABLE FORM 990, PART X, LINE 7 PROMISSORY NOTES RECEIVABLE CONSIST OF SHORT-TERM RECEIVABLES RELATED TO THE PAYMENT OF THE FINAL INSTALLMENT OF A RESIDENT DEPOSIT. OFTEN THERE IS A TIMING DIFFERENCE BETWEEN WHEN THE SALE OF THE PROSPECTIVE RESIDENT'S HOME WILL BE FINALIZED AND THE DUE DATE OF THE FINAL INSTALLMENT ON THE RESIDENT DEPOSIT. IN THESE CASES, A SHORT-TERM PROMISSORY NOTE IS ISSUED TO THE RESIDENT. IF THE RESIDENT PAYS THE NOTE ON OR BEFORE THE AGREED-UPON DUE DATE, NO INTEREST IS CHARGED. IF THE RESIDENT DOES NOT PAY THE NOTE BY THE AGREED-UPON DUE DATE, INTEREST IS CHARGED FROM THE DAY THE NOTE WAS ISSUED THROUGH THE DATE OF PAYMENT. THE DECEMBER 31, 2011 BALANCE OF $25,000 WAS PAID IN 2012. BOND AMORTIZATION FORM 990, PART X, LINE 15 Deferred financing costs related to the 2008 issuance of bonds totaled $1,004,757 and will be amortized over the bond term of 35 years. Amortization of deferred financing costs in the year ended December 31, 2012 was $41,141. Deferred financing fees, net of accumulated amortization, were $820,694 as of December 31, 2012. RESIDENT REFUNDS PAYABLE FORM 990, PART X, LINE 25 RESIDENTS ARE REQUIRED TO REMIT ENTRANCE DEPOSITS, WHICH VARY IN AMOUNT DEPENDING ON THE UNIT TO BE OCCUPIED. RESIDENT DEPOSITS ARE REFUNDABLE WHEN THE UNIT HAS BEEN VACATED AND RELEASED, ALL OUTSTANDING OBLIGATIONS OF THE RESIDENT HAVE BEEN PAID, AND THE UNIT HAS BEEN RE-SETTLED AND PAID FOR BY A NEW RESIDENT. AMORTIZATION OF RESIDENT DEPOSITS IS RECOGNIZED AS OPERATING REVENUE ON A STRAIGHT-LINE BASIS OVER A 40-YEAR PERIOD OR THE REMAINING USEFUL LIFE OF THE BUILDINGS. THE NET RESIDENT DEPOSITS LIABILITY WAS $82,092,279 AS OF DECEMBER 31, 2012. THE CURRENT YEAR INCOME AMORTIZATION WAS $3,228,768. MANAGEMENT COMPANY AND GOVERNANCE FORM 990, Part VI, Line 3 Life Care Services, LLC IS A FOR-PROFIT Iowa LIMITED LIABILITY COMPANY WHICH OPERATES AND MANAGES a variety of CONTINUING CARE RETIREMENT COMMUNITIES nationwide, INCLUDING HENRY FORD VILLAGE, INC. effective December 1, 2010. HENRY FORD VILLAGE, INC. IS GOVERNED BY AN INDEPENDENT BOARD OF DIRECTORS AND IS ADVISED BY A RESIDENTS COUNCIL ELECTED BY THE HENRY FORD VILLAGE COMMUNITY. THREE MEMBERS OF THE HENRY FORD VILLAGE, INC. BOARD ALSO SERVE ON THE HENRY FORD VILLAGE FOUNDATION BOARD OF DIRECTORS. MANAGEMENT AGREEMENT SCHEDULE O, GENERAL INFORMATION On December 1, 2010, HFV contracted with Life Care Services (LCS) for management services. The LCS contract term is for five years. HFV pays a monthly management fee equal to the greater of $50,000 or 2% of operating revenues through May 31, 2011. Management fees due on and after June 1, 2011 will vary based upon quarterly operating results of the prior period. For the period December 1, 2011 through November 30, 2012, management fees paid will not be less than $450,000 and will not exceed $899,000. In subsequent years, the minimum and maximum payment shall be adjusted based on an agreed-upon index. MANAGEMENT FEES PAID TO LCS WERE $582,399 AND $628,286 DURING 2012 AND 2011, RESPECTIVELY. The executive director, associate executive director, administrator, and IT director are employees of LCS, but their salaries and related employee benefits are reimbursed by HFV. REIMBURSEMENT PAID TO LCS FOR LCS EMPLOYEES IN 2012 TOTALED $593,060. Other corporate services that HFV may obtain are not required contractually and will be on an as-needed basis. LEASE REVENUE FORM 990, PART VIII, LINE 2F HENRY FORD VILLAGE, INC. LEASES SPACE TO VARIOUS ENTITIES FOR THE PROVISION OF SERVICES SUCH AS PHYSICIAN CARE, DENTAL CARE, AND COSMETOLOGY. THESE SERVICES ARE PROVIDED solely FOR THE BENEFIT AND CONVENIENCE OF THE RESIDENTS OF HENRY FORD VILLAGE. THE REVENUE RELATED TO THESE FACILITIES LEASES FOR 2012 WAS $114,156. DOCUMENT DISCLOSURE FORM 990, PART VI, LINE 19 THE ORGANIZATION'S FORM 990 IS AVAILABLE UPON REQUEST. DAVID HENRY, HENRY FORD VILLAGE DIRECTOR OF FINANCE, HAS PUBLIC INSPECTION COPIES AVAILABLE AT 15101 FORD ROAD, DEARBORN, MI 48126. CONTRIBUTIONS NOT TAX DEDUCTIBLE FORM 990, PART V, LINE 6A/B HENRY FORD VILLAGE, INC. HAS AN ANNUAL CAMPAIGN TO RAISE FUNDS FOR THE STAFF APPRECIATION FUND, WHICH PROVIDES END-OF-THE-YEAR BONUS CHECKS TO HENRY FORD VILLAGE, INC. EMPLOYEES. CONTRIBUTORS ARE NOTIFIED THAT DONATIONS TO THE FUND ARE NOT TAX DEDUCTIBLE. OTHER CHANGES IN NET ASSETS OR FUND BALANCES FORM 990, PART XI, LINE 5 THIS AMOUNT REFLECTS CHANGES IN INTEREST OF TEMPORARILY RESTRICTED NET ASSETS OF THE HENRY FORD VILLAGE FOUNDATION. HENRY FORD VILLAGE FOUNDATION 15101 FORD ROAD DEARBORN MI 48126 542159197 SUPPORT MI 501(C)(3) 11 NA false false false true true false false false false false false false true false true true false false false false