2013-11-13T14:33:27-06:00 2012-12-31 CROWE HORWATH LLP 70 West Madison Street Suite 700 Chicago IL 606024903 990 2012-01-01 351494162 WESTMINSTER VILLAGE TERRE HAUTE INC WEST 8122327533 1120 E Davis Drive Terre Haute IN 47802 KYLE EXLINE 2013-11-15 true Nicole Bencik P00756195 3128997000 2012 2016-03-07 17:11:31Z KYLE EXLINE 1120 E Davis Drive Terre Haute IN 47802 12424119 false X WWW.WESTMINSTERVILLAGEIN.COM X 1980 IN WESTMINSTER VILLAGE TERRE HAUTE, INC. IS AN INDIANA NOT-FOR-PROFIT CORPORATION ESTABLISHED IN 1980 FOR THE PURPOSE OF OWNING AND OPERATING A CONTINUING CARE RETIREMENT COMMUNITY. 7 7 297 75 0 0 0 12399048 12290614 59285 65675 33819 65034 12492152 12421323 0 0 0 0 5720617 5859693 0 0 0 7294480 7456133 13015097 13315826 -522945 -894503 20604049 21421551 36762428 38354094 -16158379 -16932543 X AS THE WABASH VALLEY'S ONLY TRUE CONTINUING CARE COMMUNITY, WESTMINSTER VILLAGE OFFERS TERRE HAUTE, THE PERFECT BALANCE IN SENIOR LIVING. WE BRING TOGETHER HELPFUL SERVICES, EXCITING OPPORTUNITIES AND A VARIETY OF RESIDENTIAL OPTIONS ALL IN A RELAXED NEIGHBORHOOD TO GIVE YOU MORE FREEDOM, MORE SECURITY AND MORE CHOICES. 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ACCORDINGLY, NO PROVISION HAS BEEN MADE FOR FEDERAL OR STATE INCOME TAXES. CURRENT ACCOUNTING STANDARDS REQUIRE THE ORGANIZATION TO DISCLOSE THE AMOUNT OF POTENTIAL BENEFIT OR OBLIGATION TO BE REALIZED AS A RESULT OF AN EXAMINATION PERFORMED BY A TAXING AUTHORITY. FOR THE YEARS ENDED DECEMBER 31, 2012 AND 2011, MANAGEMENT HAS DETERMINED THAT THE ORGANIZATION DOES NOT HAVE ANY TAX POSITIONS THAT RESULTED IN ANY UNCERTAINTIES REGARDING THE POSSIBLE IMPACT ON THE ORGANIZATION'S FINANCIAL STATEMENTS. THE UNCERTAIN TAX POSITIONS ARE NOT EXPECTED TO CHANGE IN THE NEXT 12 MONTHS. THE ORGANIZATION RECOGNIZES INTEREST AND PENALTIES RELATED TO THE UNRECOGNIZED TAX BENEFITS IN INTEREST AND INCOME TAXES, RESPECTIVELY. THE ORGANIZATION HAS NO AMOUNTS ACCRUED FOR INTEREST OR PENALTIES AS OF DECEMBER 31, 2012 AND 2011. THE ORGANIZATION HAS TAX RETURNS OPEN FOR FEDERAL AND STATE PURPOSES FOR 2009 AND AFTER. A CITY OF TERRE HAUTE INDIANA 356001210 881093AS7 2012-10-03 11974478 CONSTRUCT AND EQUIP FACILITY; REFUND 2006A BONDS ISSUED ON 8/31/2006 false false false A 0 0 11975155 1217524 0 0 238888 0 0 127560 10490862 598796 true false false true A false true true true false false 0.0043 0.0000 0.0043 false false 0.000000 false true A false true false false false false 0.0 false false false 0.0 false false true A true TOTAL PROCEEDS OF ISSUE SCHEDULE K, PART II, LINE 3 AMOUNT INCLUDES INVESTMENT EARNINGS ON BOND PROCEEDS. PRIVATE SECURITY OR PAYMENT TEST SCHEDULE K, PART III, LINE 7 THE BONDS ARE NOT PRIVATE ACTIVITY BONDS BECAUSE THEY DO NOT MEET THE PRIVATE BUSINESS USE TEST. GROSS PROCEEDS IN RESERVE FUND SCHEDULE K, PART II, LINE 4 GROSS PROCEEDS IN RESERVE FUND INCLUDES TRANSFERRED PROCEEDS FROM THE REFUNDED ISSUE. ORGANIZATION'S MISSION FORM 990, PART III, LINE 1 (CONTINUED FROM PART III) BETTER YET, YOU CAN COUNT ON OUR STRENGTH AND SUCCESS. WE'RE MANAGED BY LIFE CARE SERVICES, A HIGHLY RESPECTED COMPANY WITH MORE THAN FOUR DECADES OF EXPERIENCE MANAGING SENIOR COMMUNITIES NATIONWIDE. Delegate broad authority to a committee Form 990, Part VI, Section A, Line 1a THE BOARD OF DIRECTORS, BY RESOLUTION ADOPTED BY A MAJORITY OF THE ENTIRE BOARD OF DIRECTORS, MAY DESIGNATE THREE DIRECTORS TO CONSTITUTE AN EXECUTIVE COMMITTEE. DURING INTERVALS BETWEEN MEETINGS OF THE BOARD OF DIRECTORS AND SUBJECT TO SUCH LIMITATIONS AS MAY BE PROVIDED BY LAW, THESE BY-LAWS OR BY RESOLUTION OF THE BOARD OF DIRECTORS, THE EXECUTIVE COMMITTEE SHALL HAVE AND MAY EXERCISE ALL THE AUTHORITY OF THE BOARD OF DIRECTORS IN THE MANAGEMENT OF THE CORPORATION. THE EXECUTIVE COMMITTEE SHALL MAKE A FULL REPORT OF ALL ACTIONS TO THE NEXT MEETING OF THE BOARD OF DIRECTORS. Delegation of management duties Form 990, Part VI, Section A, Line 3 LIFE CARE SERVICES, LLC HAS BEEN ENGAGED TO MANAGE THE ORGANIZATIONS OPERATIONS OF THE FACILITY SINCE NOVEMBER 1984 THE CURRENT MANAGEMENT AGREEMENT WAS EFFECTIVE JANUARY 1, 2013 AND EXPIRES DECEMBER 31, 2017 EITHER PARTY MAY TERMINATE THIS AGREEMENT, WITHOUT CAUSE, AT ANY TIME BY GIVING THE OTHER PARTY AT LEAST SIX MONTHS PRIOR NOTICE OF ITS DESIRE TO TERMINATE. Review of form 990 by governing body Form 990, Part VI, Section B, Line 11b THE FORM 990 IS REVIEWED IN DETAIL BY THE ENTIRE BOARD OF DIRECTORS. AFTER ANY QUESTIONS/CHANGES ARE ADDRESSED, THE FINAL DRAFT OF THE FORM 990 IS DISTRIBUTED VIA E-MAIL TO THE BOARD OF DIRECTORS. IT IS THEN FILED ELECTRONICALLY WITH THE IRS. Conflict of interest policy Form 990, Part VI, Section B, Line 12c BOARD MEMBERS ANNUALLY SIGN DOCUMENTATION STATING IF THEY HAVE A CONFLICT OF INTEREST THEY WILL DISCLOSE THAT CONFLICT WITH THE BOARD. UPON DISCLOSURE OF A CONFLICT, THE RELATED BOARD MEMBERS OR OFFICERS SHALL ABSTAIN FROM TAKING PART IN THE DISCUSSION OR VOTING. PROCESS USED TO ESTABLISH COMPENSATION OF TOP MANAGEMENT OFFICIAL AND OTHER OFFICERS/KEY EMPLOYEES FORM 990, PART VI, LINE 15 THE EXECUTIVE DIRECTOR IS AN EMPLOYEE OF LIFE CARE SERVICE (LCS), THE BOARD NEGOTIATES AND APPROVES THE CONTRACTED SALARY AMOUNT PAID TO LIFE CARE SERVICES FOR THE EXECUTIVE DIRECTORS SERVICES. LCS DOES PERFORM REGULAR NATIONAL SALARY SURVEYS WITH AN INDEPENDENT FIRM. THE DATA IS USED TO SET LCS PAY RANGES, AND IT IS A BASIS FOR ANNUAL INCREASES. THE INFORMATION IS SHARED WITH BOARDS UPON HIRE OF A NEW LCS EMPLOYEE TO THE COMMUNITY, AND DURING ANNUAL INCREASES. THE BOARD IS ALSO INFORMED OF THE LCS BONUS PLANS, AND ASKED TO GIVE INPUT INTO THE PLAN'S DISCRETIONARY FACTORS. THE BOARD ALSO COMPLETES ANNUAL EVALUATIONS ON THE EXECUTIVE DIRECTOR AND ADMINISTRATOR WHICH IS CONSIDERED DURING THE ANNUAL REVIEW PROCESS. Governing documents, conflict of interest policy and financial statements available to the public Form 990, Part VI, Section C, Line 19 THE ORGANIZATION'S CONFLICT OF INTEREST POLICY, FINANCIAL STATEMENTS, AND GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.