2013-12-09T08:29:19-06:00 2013-09-30 560817345 Turlington and Company LLP PO Box 1697 Lexington NC 272931697 990 2012-10-01 560754599 Friends Homes Inc FRIE 3362928187 925 New Garden Road Greensboro NC 27410 Wilson Sheldon 3362928187 2013-11-20 1 Marcia W Henriksen P01259831 3362496856 2012 2015-11-30 17:44:51Z Wilson Sheldon 925 New Garden Road Greensboro NC 27410 31898092 0 X friendshomes.org X 1958 NC To establish and operate continuing care retirement communities in accordance with the principles of the Religious Society of Friends. These principles require that our communities provide, at a reasonable cost, an environment which fosters independence and a sense of wholeness, health, and security so that each resident may realize his or her full potential. In doing so we facilitate the basic Quaker principle that "there is God in every person," meaning that everyone has worth and value. Through continuous improvement and expansion, the organization will provide affordable services to the aged and support to the community at large. We accept the responsibility to promote consistent quality care while providing a home for our residents. 26 26 521 75 0 0 1332243 960047 23664598 23510093 -334761 21242 -32480 7 24629600 24491389 0 0 0 0 12202078 12449470 0 0 0 13032628 11900917 25234706 24350387 -605106 141002 78779581 81478749 51987346 50727177 26792235 30751572 To provide nursing and residential care and other support services to the elderly. 0 0 21838850 23510100 There are 10 cottages, 358 apartments, 100 assisted care beds and 109 nursing beds. 21838850 1 1 0 0 0 0 0 0 0 0 1 0 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 0 0 0 0 0 0 0 0 0 1 117 0 521 1 0 0 0 0 0 0 0 0 X 26 26 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 X Wilson Sheldon 3362928187 925 New Garden Road Greensboro NC 27410 Jack Kirk 0.00 X 0 0 0 Dick Coe 0.00 X X 0 0 0 Ed Harris 0.00 X 0 0 0 Mary Farlow 0.00 X 0 0 0 Dale Brent McKinney 0.00 X 0 0 0 Bill Davis 0.00 X 0 0 0 Beth Joyce 0.00 X 0 0 0 David Millikan 0.00 X 0 0 0 Janie Edgerton 0.00 X 0 0 0 Dossie Davis 0.00 X 0 0 0 Tony Lowe 0.00 X 0 0 0 Patrick Tillman 0.00 X 0 0 0 Scott Wagoner 0.00 X 0 0 0 Carl Semmler 0.00 X X 0 0 0 Gwen Taylor 0.00 X 0 0 0 Mark Farlow 0.00 X 0 0 0 Deets McCullen 0.00 X 0 0 0 Patrick Miller 0.00 X 0 0 0 Janet Robbins 0.00 X 0 0 0 Dan Allen 0.00 X X 0 0 0 Martha Mattocks 0.00 X 0 0 0 Jennifer Ross 0.00 X 0 0 0 Sara Beth Terrell 0.00 X 0 0 0 Jon Mitchell 0.00 X 0 0 0 Tom Wright 0.00 X X 0 0 0 William Stevens Jr 0.00 X 0 0 0 Wilson Sheldon Jr 40.00 X 175959 0 0 175959 0 0 1 0 1 0 0 960047 960047 Resident services 623000 23510093 23510093 23510093 537298 537298 6886630 4017 7405596 1107 -518966 2910 -516056 -516056 Change in value of split interest 623000 7 7 7 24491389 23510100 0 21242 X 11319735 9974844 1344891 284180 223728 60452 845555 749532 96023 6188 6188 68924 68924 97204 97204 61769 45597 16172 710747 625457 85290 1998666 1898733 99933 Insurance 2238096 1883286 354810 Dietary 1886606 1886606 Utilities 1087152 1042033 45119 Repairs & maintenance 1042878 1017765 25113 2702687 2394065 308622 24350387 21838850 2511537 0 8306022 5786765 171510 1792179 1686351 200943 213015 284173 102024 79365695 31279078 49209741 48086617 18654453 24806612 332070 625855 78779581 81478749 2111510 2098450 11264558 11379334 36665000 35525000 1697000 1614500 249278 109893 51987346 50727177 X 26050135 29939929 677100 746643 65000 65000 26792235 30751572 78779581 81478749 X 141002 3248176 570159 X 0 1 X 1 0 X 196638 184218 426574 1332243 960047 3099720 22523520 22601926 23478229 23664598 23510093 115778366 22720158 22786144 23904803 24996841 24470140 118878086 0 0 0 118878086 536830 386167 475544 472990 537298 2408829 536830 386167 475544 472990 537298 2408829 23256988 23172311 24380347 25469831 25007438 121286915 0.98010 0.97550 0.01990 0.02450 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5179990 5179990 62227655 25188706 37038949 6754199 1967316 4786883 5203851 4123056 1080795 48086617 Occupancy deposits 49600 Prepaid rent 60293 109893 X 28309724 3248176 570159 3818335 24491389 0 24491389 24350387 0 24350387 0 24350387 Description of Uncertain Tax Positions Under FIN 48: Part X, Line 2: The Organization has determined that it has no uncertain income tax positions as of September 30, 2013 and 2012. Also, the Organization does not anticipate any increase or decrease in unrecognized tax benefits during the next twelve months that would result in a material change in its financial position. The Organization's income tax returns for years ended after September 30, 2010 remain open for examination. Part XI, Line 2d - Other Adjustments: Unrealized gain on interest rate swap 570,159. X 1 1 X 0 0 0 0 0 0 0 0 0 Wilson Sheldon Jr 175959 0 0 0 0 0 0 0 0 0 175959 0 0 0 A North Carolina Medical Care Commission 521309402 657902M41 2011-11-01 37745000 Refunding prior bond issue dated 10/16/03 0 0 0 A 2220000 37745000 1 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 0 1 1 Branch Bank & Trust 7.000000000000 0 0 0 0 0 (3C) Term of Hedge Entered into two (2) year forward swap on September 27, 2012 effective September 1, 2014, for a seven (7) year term, ending November 1, 2021. Form 990, Part VI, Section B, line 11 The 990 is reviewed by the Chief Executive Officer, the Controller and Chairman of the board. Form 990, Part VI, Section B, line 12c The policy is signed each time a member joins the board. The organization relies on the integrity of the board members to monitor their independence. Form 990, Part VI, Section B, line 15a The CEO's compensation is set by the compensation committee of the board who are independent. Form 990, Part VI, Section C, line 19 The Organization is regulated by the Insurance Commission and the financial statements are part of the Disclosure required by them. All Other Functional Expenses Form 990, Part IX, line 24e Contract Medical Services: Program service expenses 698,298. Management and general expenses 0. Fundraising expenses 0. Total expenses 698,298. Prescription drugs, etc.: Program service expenses 454,914. Management and general expenses 0. Fundraising expenses 0. Total expenses 454,914. Supplies: Program service expenses 450,305. Management and general expenses 0. Fundraising expenses 0. Total expenses 450,305. Miscellaneous: Program service expenses 270,262. Management and general expenses 155,278. Fundraising expenses 0. Total expenses 425,540. Charitable care: Program service expenses 378,268. Management and general expenses 0. Fundraising expenses 0. Total expenses 378,268. Office expenses: Program service expenses 50,054. Management and general expenses 129,476. Fundraising expenses 0. Total expenses 179,530. Property Taxes: Program service expenses 38,013. Management and general expenses 0. Fundraising expenses 0. Total expenses 38,013. Telephone: Program service expenses 28,969. Management and general expenses 2,935. Fundraising expenses 0. Total expenses 31,904. Amortization of bond issue costs: Program service expenses 23,243. Management and general expenses 0. Fundraising expenses 0. Total expenses 23,243. Dues and Subscriptions: Program service expenses 1,739. Management and general expenses 20,933. Fundraising expenses 0. Total expenses 22,672. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 9: Unrealized gain/loss on interest rate swap 570,159.