2012-08-09T10:39:13-05:00 2011-12-31 410746749 CLIFTONLARSONALLEN LLP 610 WGERMANTOWN PIKESTE 400 PLYMOUTH MTG PA 19462 990 2011-01-01 521787487 KENDAL AT ITHACAINC KEND 6072665300 2230 NORTH TRIPHAMMER ROAD ITHACA NY 14850 ANN E WALL 6072665300 2012-08-08 1 BERNADETTE O'TOOLECPA P00229258 2156433900 2011 2016-02-24 21:20:13Z DANIEL GOVERNANTI 2230 NORTH TRIPHAMMER ROAD ITHACA NY 14850 36076457 0 X WWW.KAI.KENDAL.ORG X 1992 NY TO PROVIDE A MUTUALLY SUPPORTIVE ENVIRONMENT FOR RESIDENTS, AND CONTRIBUTE TO THE ITHACA COMMUNITY. 20 20 299 40 0 0 50038 108916 16106971 16660230 965780 1877341 133969 127537 17256758 18774024 52000 43600 0 0 8660533 9144545 0 0 0 8054879 7921831 16767412 17109976 489346 1664048 63286600 65105949 58040577 58505045 5246023 6600904 X KENDAL AT ITHACA IS A NOT-FOR-PROFIT CONTINUING CARE RETIREMENTCOMMUNITY. OUR VISION IS TO BE A COMMUNITY WHOSE HALLMARKS ARE THEQUAKER VALUES OF RESPECT, CARE, AND TRUST. IN ADDITION WE STRIVE TO BEGOOD STEWARDS OF OUR RESOURCES AND ENVIRONMENT. OUR MISSION IS TOPROVIDE A MUTUALLY SUPPORTIVE ENVIRONMENT FOR RESIDENTS AND STAFF, ANDTO CONTRIBUTE TO THE GREATER ITHACA COMMUNITY. 0 0 14455619 43600 16660230 CONTINUING CARE RETIREMENT COMMUNITY: KENDAL AT ITHACA CONSISTS OF 212 INDEPENDENT LIVING UNITS, A COMMUNITY CENTER, AND A 71- BED HEALTH CENTER COMPOSED OF 36 ADULT HOME BEDS AND 35 NURSING HOME BEDS. KENDAL AT ITHACA IS COMMITTED TO FOSTERING WELL-BEING, SECURITY, AND FULFILLMENT IN LATER YEARS FOR THOSE IT SERVES AND FOR OLDER PEOPLE IN THE BROADER COMMUNITY. 14455619 1 1 0 0 0 0 0 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 53 0 1 299 1 0 0 0 0 0 0 0 0 0 1 0 X 20 20 0 0 0 0 0 0 1 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X X X ANN E WALL CHIEF FINANCIAL OFFICER 6072665300 223O NORTH TRIPHAMMER ROAD ITHACA NY 14850 SUSAN NOHELTY 2.00 X 0 0 0 MARY OPPERMAN 2.00 X 0 0 0 JAMES A BROWN 2.00 X 0 0 0 JANET L CORSON-RIKERT 2.00 X 0 0 0 DAVID MCNIFF 2.00 X X 0 0 0 SHIRLEY M DURFEE 2.00 X 0 0 0 GERALD A KINCHY 2.00 X X 0 0 0 HAL CRAFT 2.00 X 0 0 0 DAVID CALL 2.00 X 0 0 0 HANNAH RICHTER 2.00 X 0 0 0 JOHN RUDD 2.00 X 0 0 0 CAROL U SISLER 2.00 X 0 0 0 JOHN KROUT 2.00 X 0 0 0 DONALD S STEWART 2.00 X 0 0 0 MACK TRAVIS 2.00 X 0 0 0 WILLIAM D WHITE 2.00 X X 0 0 0 MARTHA ARMSTRONG 2.00 X 0 0 0 HENRIK DULLEA 2.00 X 0 0 0 TANYA SAUNDERS 2.00 X 0 0 0 ROGER SIBLEY 2.00 X 0 0 0 DANIEL GOVERNANTI 40.00 X 143345 0 13875 ANN E WALL 40.00 X 96073 0 13419 SHARI HUTCHISON 40.00 X 100529 0 13444 339947 0 40738 3 0 1 0 OMNICARE OF SYRACUSE DBA PHARMACY SOL PO BOX 740391 CINCINNATI OH 452740391 PHARMACY 311182 JOHN J PAUSLEY INC 5139 JACKSONVILLE ROAD TRUMANSBURG NY 14886 GENERAL CONTRACTING 230308 B&B FLOORING 2217 DRYDEN ROAD DRYDEN NY 13053 SALE AND INSTALLATION OF CARPET, VINYL, 187237 3 108916 108916 RESIDENT CARE FEES 623990 10618132 10618132 ENTRY FEES EARNED 623990 3549907 3549907 HEALTH CENTER FEES 623990 2309980 2309980 MEDICARE AND MEDICAID 623990 178664 178664 PER DIEM RESIDENT FEES 623990 3547 3547 16660230 827504 827504 18343779 8491 17302433 0 1041346 8491 1049837 1049837 CAFETERIA 623000 111266 111266 OTHER 623000 16271 16271 127537 18774024 16660230 0 2004878 43600 43600 266712 266712 6366170 5536707 829463 430933 377043 53890 1610114 1408764 201350 470616 414747 55869 537553 537553 41410 41410 51917 51917 347325 238970 108355 70513 70513 307708 175554 132154 108676 108676 1982004 1901661 80343 69495 44457 25038 19238 13922 5316 718403 660931 57472 2053482 1889203 164279 88344 88344 FOOD SERVICES 887895 887895 MEDICAL EXPENSE 427179 427179 MISC. EXPENSE 210689 168274 42415 17109976 14455619 2654357 0 633 633 2472688 2691533 1286703 1642021 93235 95770 1202955 1072701 57994135 26658662 32278236 31335473 24558019 26721164 1394131 1546654 63286600 65105949 611689 427415 36417429 36412594 20121449 19173632 1634800 890010 856604 58040577 58505045 X 4217453 5442210 1028570 1158694 5246023 6600904 63286600 65105949 X 1664048 -309167 X X 0 1 1 X 0 X 247470 176821 206379 50038 108916 789624 15793325 15767287 16142954 16106971 16660230 80470767 16040795 15944108 16349333 16157009 16769146 81260391 983086 983086 0 983086 983086 80277305 998889 770705 673806 745588 827504 4016492 998889 770705 673806 745588 827504 4016492 111328 136097 120748 133969 127537 629679 17151012 16850910 17143887 17036566 17724187 85906562 0.93450 0.94530 0.04680 0.04730 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 555997 12317 64503 503811 1 2572434 2572434 46534908 21003632 25531276 8886793 5655030 3231763 31335473 INTEREST PAYABLE 285037 INTEREST RATE SWAP LIABILITY 98145 DUE TO AFFILIATES 25681 CAPITAL LEASE 447741 856604 18774024 17109976 1664048 -333573 24406 -309167 1354881 18421257 24406 24406 18396851 377173 377173 18774024 17066376 0 17066376 43600 43600 17109976 PART IV, LINE 2B: KENDAL AT ITHACA RECEIVES REFUNDABLE DEPOSITS OF $1000 EACH FROM PROSPECTIVE RESIDENTS WHO WISH TO BE ON THE PRIORITY LIST FOR MOVE-INS. THESE DEPOSITS, AND INTEREST EARNED, REMAIN THE PROPERTY OF THE PROSPECTIVE RESIDENTS AND ARE MADE DIRECTLY TO A LOCAL BANK, WHERE THEY ARE HELD IN ESCROW UNTIL OCCUPANCY OR WITHDRAWAL. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE ORGANIZATION IS A NOT-FOR-PROFIT CORPORATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM FEDERAL INCOME TAXES PURSUANT TO SECTION 501(A) OF THE INTERNAL REVENUE CODE. THE ORGANIZATION FOLLOWS THE PROVISIONS OF THE INCOME TAX STANDARD REGARDING THE RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. THE APPLICATION OF THESE PROVISIONS HAS NO IMPACT ON THE ORGANIZATIONS FINANCIAL STATEMENTS. THE ORGANIZATION IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE ITS TAX-EXEMPT STATUS OR OF ANY ACTIVITIES THAT ARE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME OR EXCISE OR OTHER TAXES. THE TAX RETURNS FOR THE YEARS 2008 TO 2010 ARE OPEN TO EXAMINATION BY FEDERAL AND STATE AUTHORITIES. THE ORGANIZATION HAS IMPLEMENTED PROCESSES TO ENSURE CORPORATE COMPLIANCE WITH THE INTERNAL REVENUE SERVICE IMMEDIATE SANCTIONS PROVISION. THESE PROCESSES INCLUDE RETENTION BY THE BOARD OF TRUSTEES OF AN UNBIASED THIRD PARTY CONSULTANT TO REVIEW EXECUTIVE TEAM COMPENSATION PRACTICES, ANNUAL REVIEW BY THE BOARD OF TRUSTEES OF THE PERFORMANCE AND COMPENSATION OF THE ORGANIZATION'S EXECUTIVE DIRECTOR. THE BOARD ENGAGES IN ANNUAL CORPORATE COMPLIANCE EDUCATION, HAS ADOPTED AND REVIEWS AT LEAST ANNUALLY A WRITTEN CORPORATE COMPLIANCE PROGRAM AND CODE OF CONDUCT, AND HAS A DETAILED CONFLICT OF INTEREST POLICY. PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN FAIR VALUE OF INTEREST RATE SWAP 24,406. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN FAIR VALUE OF SWAP AGREEMENT 24,406. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANT IN AID 43,600. UNREALIZED LOSS ON INVESTMENT 333,573. PART XIII, LINE 4B - OTHER ADJUSTMENTS: GRANTS IN AID 43,600. 1 FINANCIAL AID TO RESIDENTS TO HELP PAY FOR THEIR MONTHLY FEES 3 43600 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE ONLY GRANTS GIVEN BY KENDAL AT ITHACA ARE FOR RESIDENT ASSISTANCE, SPECIFICALLY, TO HELP RESIDENTS PAY THEIR MONTHLY FEES. NO MONITORING IS REQUIRED -- THE GRANTS ARE DIRECTLY APPLIED TO RESIDENTS' MONTHLY BILLS AND ACT TO DECREASE THE AMOUNT OWED BY THE RESIDENTS FOR THEIR MONTHLY FEES. KENDAL AT ITHACA'S CFO ANNUALLY REVIEWS THE FINANCIAL INFORMATION PROVIDED BY RESIDENTS AND AWARDS (OR RESCINDS) GRANTS BASED ON THAT INFORMATION. X X 0 0 0 0 0 0 0 0 0 DANIEL GOVERNANTI 143345 0 0 0 0 0 1494 0 12381 0 157220 0 0 0 TOMPKINS COUNTY INDUSTRIAL DEVELOPMENT AGENCY 161214039 890099CL6 2003-09-04 17922286 REFINANCE SERIES 1994 BONDS 0 0 0 TOMPKINS COUNTY INDUSTRIAL DEVELOPMENT AGENCY 161214039 890099BQ6 2000-08-31 8250000 CONSTRUCTION OF CCRC AND REFINANCE CONSTRUCTION LOAN 0 0 0 5197286 17922286 1036750 16243932 356600 16110 268893 2003 1 0 1 1 2835000 8250000 562025 4770395 165000 48043 2704537 2000 1 0 1 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 0 0 0.00000 0.00000 0.00000 1 1 1 1 WACHOVIA 15.103600000000 0 0 0 0 0 1 1 1 WACHOVIA 5.424000000000 0 0 0 0 0 FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE IS AUTHORIZED TO TREAT ISSUES AND/OR MAKE DECISIONS ON BEHALF OF THE BOARD, WHEN NECESSARY AND URGENT, BETWEEN BOARD MEETINGS OR WHEN A BOARD QUORUM CANNOT BE RAISED. THE EXECUTIVE COMMITTEE MAY PROVIDE LEADERSHIP AND DIRECTION TO THE EXECUTIVE DIRECTOR; AND PERFORM THE EXECUTIVE DIRECTOR'S ANNUAL REVIEW IN COLLABORATION WITH THE PRESIDENT OF KENDAL NEW YORK. THE EXECUTIVE COMMITTEE MAY NOT FILL VACANCIES ON THE BOARD OR IN ANY COMMITTEE, FIX THE COMPENSATION OF TRUSTEES FOR SERVING ON THE BOARD OR ANY COMMITTEE, AMEND OR REPEAL THE BYLAWS OR ADOPT NEW BYLAWS, AND/OR AMEND OR REPEAL ANY RESOLUTION OF THE BOARD WHICH BY ITS TERMS SHALL NOT BE SO AMENDABLE OR REPEALABLE. FORM 990, PART VI, SECTION A, LINE 7B KENDAL AT ITHACA IS AFFILIATED WITH KENDAL NEW YORK THROUGH BYLAW REQUIREMENTS. KENDAL NEW YORK MUST APPROVE THE ELECTION OF BOARD MEMBERS OF KENDAL AT ITHACA AND ANY AMENDMENTS TO THE ARTICLES OF INCORPORATION OR SPECIFIC SECTIONS OF THE BYLAWS OF KENDAL AT ITHACA AS WELL AS THE INCURRENCE OF DEBT OF SPECIFIED VALUE; CHANGES IN CORPORATE PURPOSE; USE OF THE NAME KENDAL; THE SUBSTANCE OF RESIDENT CONTRACTS; AND THE PURCHASE, SALE, LEASE, OR OTHER DISPOSITION OF ANY REAL ESTATE OR IMPROVEMENTS THEREON OF A SPECIFIC VALUE; AND DISSOLUTION, MERGER WITH ANOTHER ENTITY, DIVISION, OR ACQUIRING CONTROL OF ANOTHER ENTITY. KENDAL NEW YORK SHALL HAVE THE RIGHT TO REVIEW KENDAL AT ITHACA'S OPERATIONS, STRATEGIC AND OTHER PLANS, AND FINANCIAL PROJECTIONS AND PERFORMANCE. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY THE FINANCE COMMITTEE AND IS ALSO DISTRIBUTED TO ALL BOARD MEMBERS BEFORE IT IS FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C A CONFLICT OF INTEREST IS DEFINED AS "EXCESS BENEFIT" TO THE DISQUALIFIED PERSON. EXCESS BENEFITS MAY ARISE FROM A TRANSACTION IN WHICH THE AMOUNT OF THE ECONOMIC BENEFIT PROVIDED BY KENDAL AT ITHACA TO OR FOR THE USE OF THE DISQUALIFIED PERSON EXCEEDS THE VALUE OF THE CONSIDERATION (INCLUDING THE PERFORMANCE OF SERVICES) RECEIVED BY KENDAL AT ITHACA FOR PROVIDING SUCH BENEFIT. ALL MEMBERS OF THE KENDAL AT ITHACA BOARD OF TRUSTEES AND STAFF ARE COVERED BY THIS POLICY. ANY PERSON WHO REASONABLY BELIEVES THEY MAY BE AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF AND THE MATERIAL FACTS OF THE NATURE OF HIS OR HER INTEREST TO THE TRUSTEES OR MEMBERS OF THE COMMITTEE CONSIDERING THE PROPOSED TRANSACTION. SUCH DISCLOSURE SHALL INCLUDE ANY RELEVANT AND MATERIAL FACTS KNOWN TO SUCH PERSON ABOUT THE TRANSACTION AND ALL FACTS RELATING TO THE REASON THAT SUCH PERSON MIGHT BE A DISQUALIFIED PERSON. WHEN A PERSON DISCLOSES THEY MAY BE A DISQUALIFIED PERSON, THE BODY TO WHICH THE DISCLOSURE IS MADE SHALL THEREUPON, BY MAJORITY VOTE (OTHER THAN THE PERSON WHO MADE THE DISCLOSURE), DETERMINE WHETHER THE PERSON IS A DISQUALIFIED PERSON OR IS A POTENTIALLY DISQUALIFIED PERSON. IF IT IS DETERMINED THAT SUCH PERSON IS A DISQUALIFIED PERSON, SUCH PERSON SHALL NOT VOTE ON, NOR USE HIS PERSONAL INFLUENCE ON, NOR PARTICIPATE IN THE DISCUSSIONS OR DELIBERATIONS WITH RESPECT TO SUCH CONTRACT OR OTHER TRANSACTION. SUCH PERSON MAY PRESENT FACTUAL INFORMATION OR RESPOND TO QUESTIONS AS MAY BE REQUIRED BY THE REMAINDER OF THE BOARD OR COMMITTEE. THE DISQUALIFIED PERSON SHALL WITHDRAW FROM THE MEETING UNTIL THE DISCUSSION OR DISCUSSIONS, INCLUDING ANY VOTES TAKEN, HAS BEEN COMPLETED. THE MINUTES OF THE MEETING SHALL REFLECT THE DISCLOSURE OF THE DISQUALIFIED PERSON AND HIS/HER WITHDRAWAL FROM THE MEETING. EACH TRUSTEE, DIRECTOR, PRINCIPAL OFFICER, AND MEMBER OF A COMMITTEE WITH BOARD DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS THAT SUCH A PERSON HAS RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY, HAS READ AND UNDERSTANDS THE POLICY, HAS AGREED TO COMPLY WITH THE POLICY, AND HAS DISCLOSED ALL KNOWN CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE DIRECTOR'S COMPENSATION IS DETERMINED BY THE BOARD'S EXECUTIVE COMMITTEE IN CONSULTATION WITH KENDAL CORPORATION STAFF. KENDAL AT ITHACA'S HUMAN RESOURCES DIRECTOR AND EXECUTIVE DIRECTOR DETERMINE COMPENSATION FOR ALL STAFF, USING COMPARATIVE INDEPENDENT DATA. THIS PROCESS IS DONE FOR ALL EMPLOYEES ON AN ANNUAL BASIS. THIS PROCESS WAS LAST UNDERTAKEN IN 2010. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION MAKES ITS 990 AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST. THE INFORMATION IS ALSO PUBLISHED ON THEIR WEBSITE (WWW.KAI.KENDAL.ORG) AND ON ANOTHER WEBSITE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -333,573. CHANGE IN FAIR VALUE OF INTEREST RATE SWAP 24,406. TOTAL TO FORM 990, PART XI, LINE 5: -309,167. COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE AUDIT FORM 990 PART XII, LINE 2C THE ORGANIZATION HAS AN AUDIT COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. KENDAL AT OBERLIN 600 KENDAL DRIVE OBERLIN OH 440741900 341567246 OPERATE CCRC OH 501C(3) 9 N/A 0 LEXINGTON RETIREMENT COMMUNITY INC 160 KENDAL DRIVE LEXINGTON VA 24450 541795871 OPERATE CCRC VA 501C(3) 9 N/A 0 KENDAL AT HANOVER 80 LYME ROAD HANOVER NH 037551218 020519490 OPERATE CCRC NH 501C(3) 9 N/A 0 BARCLAY FRIENDS 700 FRANKLIN STREET WEST CHESTER PA 19380 232088476 OPERATE CCRC PA 501C(3) 3 N/A 0 THE KENDAL CORPORATION 1107 EAST BALTIMORE PIKE KENNETT SQUARE PA 19348 232688382 DEVELOP AND PROVIDE SUPPORT SERVICES FOR CCRCS PA 501C(3) 11 N/A 0 KENDAL CHARITABLE FUNDS 1107 EAST BALTIMORE PIKE KENNETT SQUARE PA 19348 232626425 MANAGE CHARITABLE CONTRIBUTIONS TO PRIMARILY BENEFIT AFFILIATES PA 501C(3) 7 KENDAL CORPORATION 0 KENDAL NEW YORK 1010 KENDAL WAY SLEEPY HOLLOW NY 10591 061656576 PROVIDE SUPPORT SERVICES TO KENDAL CCRCS IN NY NY 501C(3) 11 KENDAL CORPORATION 0 KENDAL CROSSLANDS COMMUNITIES PO BOX 100 KENNETT SQUARE PA 19348 231906212 OPERATE CCRC PA 501C(3) 9 N/A 0 KENDAL ON HUDSON 1010 KENDAL WAY SLEEPY HOLLOW NY 10591 133971396 OPERATE CCRC NY 501C(3) 9 N/A 0 KENDAL AT GRANVILLE 2158 COLUMBUS ROAD GRANVILLE OH 43023 311657346 OPERATE CCRC OH 501C(3) 9 N/A 0 THE LATHROP COMMUNITIES 100 BASSETT BROKK DRIVE EASTHAMPTON MA 01027 042996627 OPERATE CCRC MA 501C(3) 9 N/A 0 KENDAL AT HOME 27519 DETROIT ROAD WESTLAKE OH 44145 200548053 OPERATE CONTINUING CARE AT HOME PROGRAM OH 501C(3) 9 N/A 0 COLLINGTON 10450 LOTTSFORD ROAD MITCHELLVILLE MD 20721 521281156 OPERATE CCRC MD 501C(3) 9 N/A 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0