2013-11-15T10:52:17-06:00 2012-12-31 410746749 CliftonLarsonAllen LLP 5001 Spring Valley Road Suite 600W Dallas TX 75244 990 2012-01-01 752707608 Sears Permian Retirement Corporation SEAR 3256915519 One Village Drive No 400 Abilene TX 79606 Terry Myers 3256915519 2013-11-14 1 Troy Langsdale P00847944 9723835700 2012 2016-02-25 16:41:14Z Parks Methodist Retirement Village & Desert Haven Gregory A Williams 1114 Lost Creek Blvd Ste 220 Austin TX 78746 7739868 0 X www.sears-methodist.com X 1997 TX The mission of Sears is to provide leadership in response to the needs of our aging population. We believe we have a responsibility for studying, planning, developing, and implementing quality service to the aging where appropriate needs are found for health care and residential living services and can be provided in a Christian environment. 10 10 236 15 0 0 74952 29351 6967434 7707703 2864 2814 0 0 7045250 7739868 0 63552 0 0 3561245 3782784 0 0 0 3506585 4126498 7067830 7972834 -22580 -232966 15660968 15597337 8149354 9380672 7511614 6216665 X The mission of Sears is to provide leadership in response to the needs of our aging population. We believe we have a responsibility for studying, planning, developing, and implementing quality service to the aging where appropriate needs are found for health care and residential living services and can be provided in a Christian environment. 0 0 6490268 63552 7707703 Sears Permian Retirement Corporation, DBA: Parks Methodist Retirement Village is a non-profit 501(c)(3) organization, which consists of 55 independent living apartments and cottages and 23 assisted living units as well as a 90 bed nursing facility in Odessa, Texas. The facility provides nursing home and long-term nursing care to elderly as well as a Medicare skilled unit for rehabilitation. Sears Permian Retirement Corporation, DBA: Desert Haven consists of 40 independent living apartments and is also located in Odessa, Texas. 6490268 1 1 0 0 0 0 0 0 0 0 1 1 0 1 1 1 0 1 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 1 0 0 0 1 26 0 236 1 0 0 0 0 0 0 0 0 0 0 X 10 10 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X Terry Myers CFO 5123296716 1114 Lost Creek Blvd Suite 220 Austin TX 78746 Jeffrey Smith 1.00 8.00 X X 0 0 0 Rick Rhodes 1.00 8.00 X X 0 0 0 Vance Goddard 1.00 8.00 X X 0 0 0 Steve Exter 1.00 8.00 X X 0 0 0 Quintan Chamness 1.00 8.00 X 0 0 0 Carol Denton 1.00 8.00 X 0 0 0 Dan Olson 1.00 8.00 X 0 0 0 David Lynn 1.00 8.00 X 0 0 0 Larry Dodson 1.00 8.00 X 0 0 0 Barbara Cherry 1.00 8.00 X 0 0 0 Dr Howard Tobin 1.00 8.00 X 0 0 0 Michael Sims 32.00 8.00 X 0 186320 9000 D Keith Perry 2.00 38.00 X 0 411552 33000 M Terry Myers 2.00 38.00 X 0 233573 11675 Gary Anderson 2.00 38.00 X 0 287012 14135 Jan Thompson 2.00 38.00 X 0 23744 0 Randal Crosswhite 2.00 38.00 X 0 137708 6875 Kenneth Fincher 1.00 39.00 X 0 127212 6180 Kent Herring 1.00 39.00 X 0 123712 6180 Gordon Shoger 2.00 38.00 X 0 120112 6000 Windell Hawkins 2.00 38.00 X 0 110112 5500 Jayne Buchanan 2.00 38.00 X 0 106220 5301 Mary Goodin 2.00 38.00 X 0 105320 5250 Terry Huskey 2.00 38.00 X 0 100208 5000 Melanie Juel 2.00 38.00 X 0 93750 4688 Robert Haak 2.00 38.00 X 0 89149 2738 Mary Jane Fitts 2.00 38.00 X 0 81086 2613 Dennis Briggs 2.00 38.00 X 0 56223 2558 Stephen Illingworth 2.00 38.00 X 0 34031 1702 Eugene DuChamp 2.00 38.00 X 0 9365 0 Cheryl Harding 1.00 39.00 X 0 115790 5216 Jeff Busjahn 1.00 39.00 X 0 120048 6000 Gregory Hattori 2.00 38.00 X 0 160076 4115 Cy Jenkins 2.00 38.00 X 0 105616 5250 Pamela McGrew 2.00 38.00 X 0 100958 5044 0 3038897 154020 0 0 1 0 Southwest Therapy 1 Village Dr Suite 400 Abilene TX 79606 Therapy Service 563933 Ben E Keith PO Box Amarillo Amarillo TX 79105 Food service 341847 Bibby Financials 2945 Townsgate Rd Westlake Village CA 91361 Contract Nursing 172368 Century Siding 1435 E 35th Odessa TX 79760 Remodeling Service 166193 Evans Pharmacy PO Box 4474 Odessa TX 79762 Pharmacy 147879 6 29351 29351 Resident Charges 623000 7707703 7707703 7707703 2814 2814 7739868 7707703 0 2814 63552 63552 3262907 2932879 330028 281687 253400 28287 238190 214728 23462 402000 402000 6035 6035 10116 10116 383548 382714 834 64906 64906 59054 59054 360298 348835 11463 24181 20402 3779 420 420 1875 1836 39 621554 605190 16364 118923 116034 2889 Ancillary Expense 749300 749300 Bad Debt Expense 510000 510000 Supplies 349044 341431 7613 Food 327546 327546 137698 132001 5697 7972834 6490268 1482566 0 184 264 80061 77445 1101163 595780 12981 16137 16574 8375 18311493 7390728 11294643 10920765 2401154 2419170 754208 1559401 15660968 15597337 484900 796488 2639488 2655331 5024966 5928853 8149354 9380672 X 5569014 4274065 1942600 1942600 7511614 6216665 15660968 15597337 X -232966 -1061983 X X 0 1 X 1 1 1 X 600 15525 136254 74952 29351 256682 6935548 7036463 6802211 6935934 7707703 35417859 6936148 7051988 6938465 7010886 7737054 35674541 0 0 0 35674541 7506 205 480 2864 2814 13869 7506 205 480 2864 2814 13869 6943654 7052193 6938945 7013750 7739868 35688410 0.99960 0.99920 0.00040 0.00080 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 668926 668926 15030760 5482863 9547897 594248 389622 204626 2017559 1518243 499316 10920765 Investment in Sears Methodist Foundation 2419170 F 2419170 Due from Other Campuses 901 Reserve for Replacements 10331 Residual Receipts Reserve 12872 Goodwill 50000 Construction in Progress 1485297 1559401 Due to Other Campuses 33358 Resident Security Deposits 37966 Other Current Liabilities 21699 Sweep Account - Intercompany Liabilities 5835830 5928853 X Description of Uncertain Tax Positions Under FIN 48: Part X, Line 2: The system adopted the income tax standard for uncertain tax positions. This standard clarifies the accounting for uncertainty in income taxes recognized in an organization's financial statements in accordance with the income tax standard. This standard prescribes recognition and measurement of tax positions taken or expected to be taken on a tax return that are not certain to be realized. The System's income tax returns are subject to review and examination by federal, state, and local authorities. The System is not aware of any activities that would jeopardize its tax-exempt status. The System is not aware of any activities that are subject to tax on unrelated business income or excise or other taxes. The tax returns for the years 2009 to 2012 are open to examination by federal, local, and state authorities. 1 Charitable Discounts to Residents 16 63552 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: The recipients fill out a detailed application which requires the CEO's approval before the funds are released for assistance. X X 1 1 0 0 0 0 0 0 0 Michael Sims 0 180000 0 0 0 6320 0 9000 0 0 0 195320 0 0 D Keith Perry 0 381323 0 22709 0 7520 0 33000 0 0 0 444552 0 0 M Terry Myers 0 233500 0 0 0 73 0 11675 0 0 0 245248 0 0 Gary Anderson 0 282692 0 0 0 4320 0 14135 0 0 0 301147 0 0 Gregory Hattori 0 82376 0 0 0 77700 0 4115 0 0 0 164191 0 0 Part I, Lines 4a-b Per Form 990, Schedule J, Part 1, Line 4a, the following people received severance payments. Here are their names and the amounts contributed: Mary Jane Fitts $28,769 Robert Haak $32,500 Per Form 990, Schedule J, Part 1, Line 4b, the following people participated in, or received payment from, a supplemental nonqualified retirement plan. Here are their names and the amounts contributed: Keith Perry $33000 Terry Myers $11675 Gary Anderson $14135 Michael Sims $9000 Randal Crosswhite $6875 Kenneth Fincher $6180 Kent Herring $6180 Gordon Shoger $6000 Jeffrey Busjahn $6000 Windell Hawkins $5500 Jayne Buchanan $5301 Mary Goodin $5250 Cy Jenkins $5250 Cheryl Harding $5216 Pamela McGrew $5044 Terry Huskey $5000 Melanie Juel $4688 Gregory Hattori $4115 Robert Haak $2738 Mary Jane Fitts $2613 Dennis Briggs $2558 Stephen Illingworth $1702 Form 990, Part VI, Section A, line 1 The Executive Committee often makes decisions for the Board; however, the Board is always notified of any action the Executive Committee takes. The Executive Committee is composed of the Chairman, Vice Chairman, Secretary, Treasurer, and President. The President is a non-voting member with voice. With regard to scope, the Executive Committee "shall possess and may exercise all the powers of the Board of Trustees except as subject to the provisions of Article 7.07. The Executive Committee shall exercise these powers only when it is impractical to convene a called meeting of the Board of Trustees. The Board of Trustees may delegate specific authority or responsibility to the Executive Committee." The Executive Committee may not: Amend the Articles of Incorporation; Adopt a plan of merger or a plan of consolidation with another corporation; Authorize the sale, lease, exchange, or mortgage of all or substantially all of the property and assets of the Corporation; Authorize the voluntary dissolution of the Corporation; Revoke proceedings for the voluntary dissolution of the Corporation; Adopt a plan for the distribution of the assets of the Corporation; Amend, alter or repeal the bylaws; Elect, appoint, or remove a member of a committee or a Trustee or officer of the Corporation; Approve any transaction to which the Corporation is a party and that involves a potential conflict of interest as defined in paragraph 10.05, below; Take any action outside the scope of authority delegated to it by the Board of Trustees; Take final action on a matter that requires the approval of the Board of Trustees. Form 990, Part VI, Section A, line 3 The organization delegates management duties including supervising personnel, operations, and budgeting to Sears Methodist Retirement System, Inc., the parent company. Form 990, Part VI, Section B, line 11 A copy of the form 990 was made available to all board members for review and approval before filing the return. Form 990, Part VI, Section B, line 12c Conflict of interest statements are completed annually by Sears Methodist Retirement System Board of Trustees, Sears Permian Retirement Corporation Board of Directors and all senior staff. Any new Board Members or senior staff are required to complete the statement upon hire. Form 990, Part VI, Section B, line 15 The compensation for the CEO is determined by the performance/compensation committee and is approved by the board in an annual review. Any raise or bonus is discussed and voted on by the board. Every few years an outside compensation specialist is hired to help determine compensation for the CEO. Each senior VP or executive VP review or salary increase is determined by the CEO in an annual review process. Each senior VP has key officers under them that are reviewed in the same manner. Form 990, Part VI, Section C, line 19 Although not required, the organization will provide photocopies of its governing documents, conflict of interest policy, and financial statements to those who request one or more of these items. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 9: Intercompany Fund Transfers 2. Debt Service Payments -1,080,000. Change in SMF Investment 18,015. Form 990, Part XII, Line 2C: The organization has a committee which assumes responsibility for choosing the independent auditor and oversight of the independent audit. This process is consistent with prior years. Sears Methodist Centers Inc One Village Drive Suite 400 Abilene TX 79606 751234917 Senior Living TX 501(c)(3) Line 9 N/A 0 Sears Methodist Retirement System Inc One Village Drive Suite 400 Abilene TX 79606 752516330 Senior Living TX 501(c)(3) Line 11b, II N/A 0 Sears Panhandle Retirement Corporation One Village Drive Suite 400 Abilene TX 79606 752503233 Senior Living TX 501(c)(3) Line 9 N/A 0 Sears Methodist Foundation One Village Drive Suite 400 Abilene TX 79606 752692545 Manages charitable funds for all SMRS related entities TX 501(c)(3) Line 11c, III-FI N/A 0 Sears Plains Retirement Corporation One Village Drive Suite 400 Abilene TX 79606 752768233 Senior Living TX 501(c)(3) Line 9 N/A 0 Sears Brazos Retirement Corporation One Village Drive Suite 400 Abilene TX 79606 010598053 Senior Living TX 501(c)(3) Line 9 N/A 0 Sears Tyler Methodist Retirement Corporation One Village Drive Suite 400 Abilene TX 79606 203500571 Senior Living TX 501(c)(3) Line 9 N/A 0 Sears Caprock Retirement Corporation One Village Drive Suite 400 Abilene TX 79606 020709581 Senior Living TX 501(c)(3) Line 9 N/A 0 Canyons Senior Living LP 2200 West Seventh Amarillo TX 79106 260888545 Low Income Senior Housing TX N/A N/A 0 0 Senior Dimensions Inc One Village Drive Suite 400 Abilene TX 79606 752814016 Consulting TX N/A C 0 Texas Senior Management Inc One Village Drive Suite 400 Abilene TX 79606 320333801 Management TX N/A C 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0