2012-04-06T18:54:41-05:00 2011-06-30 PARENTEBEARD LLC 1869 CHARTER LANE STE 301 LANCASTER PA 17601 990 2010-07-01 521381348 ANNAPOLIS LIFE CARE INC ANNA 4102667300 4000 RIVER CRESCENT DRIVE ANNAPOLIS MD 21401 DR EDGAR MALLICK 4102667300 2012-03-28 1 MICHAEL S FREY 7173935696 2010 2016-02-24 21:20:13Z DR EDGAR MALLICK 4000 RIVER CRESCENT DRIVE ANNAPOLIS MD 21401 31813391 0 X WWW.GINGERCOVE.COM X 1988 MD TO OWN AND OPERATE A CONTINUING CARE COMMUNITY FOR PERSONS OVER THE AGE OF 60. 16 16 323 25 0 -17579 57860 241082 17558473 18122436 459254 332942 146041 148911 18221628 18845371 23242 124189 0 0 9015594 9466869 0 0 0 10717966 11205594 19756802 20796652 -1535174 -1951281 100914032 102750568 103424766 102822621 -2510734 -72053 OUR VISION - A PREMIER LIFE-CARE COMMUNITY COMMITTED TO QUALITY.OUR MISSION - TO PROVIDE RESIDENTS AN ABUNDANT LIFE.OUR VALUES - RESIDENT INDEPENDENCE, DIGNITY, SECURITY, STAFF EXCELLENCE, BUSINESS INTEGRITY, AND FISCAL PRUDENCE. 0 0 13843282 124189 14126769 INDEPENDENT LIVING: THE ORGANIZATION PROVIDES HOUSING, HEALTH CARE, AND RECREATIONAL ACTIVITIES FOR SENIOR CITIZENS WHO ARE STILL ABLE TO MAINTAIN AN ACTIVE LIFESTYLE. THERE WERE 243 INDEPENDENT LIVING UNITS AVAILABLE WITH AN AVERAGE OCCUPANCY RATE OF 93.40%. 1646708 1680430 ASSISTED LIVING: THIS PROGRAM IS FOR SENIOR CITIZENS WHO MAY NEED ADDITIONAL HELP TO MAINTAIN A HEALTHY LIFESTYLE BUT WHO DO NOT REQUIRE SKILLED NURSING. THE ORGANIZATION HAS A 30 BED ASSISTED LIVING COMPLEX WHICH PROVIDED A TOTAL OF 7,637 LIFE CARE DAYS. 2413557 2315237 NURSING: THE ORGANIZATION HAS A 61 BED COMPREHENSIVE CARE COMMUNITY HEALTH CENTER FOR RESIDENTS WHO REQUIRE A HIGH LEVEL OF SKILLED NURSING ASSISTANCE. TEMPORARY AND PERMANENT CARE DAYS TOTALED 13,432. 17903547 1 1 0 1 0 0 0 0 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 55 0 1 323 1 1 1 0 0 0 0 0 0 0 0 0 X 16 16 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MD X MR TIM ELLIOTT CFO 4102667300 4000 RIVER CRESCENT DRIVE ANNAPOLIS MD 21401 DR RAYMOND HERZINGER 5.00 X X 0 0 0 MR JAMES K DON 2.00 X 0 0 0 BETSY COCKRILL BANNAT 2.00 X 0 0 0 ANN M FLIGSTEN 2.00 X 0 0 0 MR FREDERICK GREGORY 2.00 X 0 0 0 CAPT JOHN HENDERSON 2.00 X 0 0 0 MR ROBERT M HOYT 5.00 X X 0 0 0 ADM CHARLES R LARSON 2.00 X 0 0 0 VALENTINE F LYNCH 2.00 X 0 0 0 MRS PATRICIA S MCMANUS 2.00 X 0 0 0 ADM CARLISLE AH TROST 5.00 X X 0 0 0 JAMES E KOEHR 2.00 X 0 0 0 JEFFREY A NORRIS 2.00 X 0 0 0 ROBERT J PELRINE 2.00 X 0 0 0 JEANNE LUNDQUIST 2.00 X 0 0 0 JEFFREY FERGUSON 5.00 X X 0 0 0 DR EDGAR MALLICK 40.00 X 187316 0 35797 MS DENISE BERT-HALL 40.00 X 121804 0 5513 MS WENDY FERRIS 40.00 X 132226 0 9677 TIMOTHY ELLIOTT 40.00 X 112320 0 2344 553666 0 53331 4 0 1 0 SELECT REHABILITATION POBOX 809056 CHICAGO IL 60680 THERAPY SERVICES 559885 LIFE CARE SERVICES LLC 400 LOCUST ST DES MOINES IA 50309 ACCOUNTING/SOFTWARE SVC 159652 MILES & STOCKBRIDGE 10 LIGHT ST BALTIMORE MD 21202 LEGAL SVC. 112998 15 241082 241082 RESIDENT SERVICE FEES 621610 13224133 13224133 ENTRANCE FEES EARNED 621610 2908911 2908911 HEALTH CENTER FEES 621610 1923090 1923090 HOME HEALTH REVENUE 621610 66302 66302 18122436 473990 473990 34330 657 33673 33673 33673 12781790 12388727 534111 393063 -534111 -141048 -141048 39770 44525 -4755 -4755 CATERING INCOME 621610 28278 28278 LOUNGE INCOME 621610 28120 28120 GUEST MEALS 621610 24905 24905 38690 38690 119993 18845371 18122436 0 481853 124189 124189 211764 211764 7611301 6688643 922658 49026 49026 811299 646219 165080 783479 699947 83532 205596 205596 72962 72962 37745 37745 2274 2274 22400 22400 687422 589745 97677 129332 129332 2207131 1930396 276735 4267526 3879999 387527 7210 7210 1236 1236 3246838 3246838 103295 103295 RESIDENT INCENTIVES 94447 94447 DUES, MEMBERSHIPS, AND 64216 20068 44148 PROMOTIONS 26365 26365 PASTORAL CARE 17081 17081 EMPLOYEE RECRUITING 12518 11396 1122 20796652 17903547 2893105 0 600 600 3398454 3387342 851391 1316593 2769003 1581491 85208 87431 188275 104305 89848421 30548678 58700461 59299743 24392208 26730013 8867801 8346274 979649 1235769 680982 661007 100914032 102750568 2840649 3042761 47070563 48503672 44779219 44069691 8734335 7206497 103424766 102822621 X -3796990 -1739330 1236256 1517127 50000 150150 -2510734 -72053 100914032 102750568 X -1951281 4389962 X X 0 1 1 X 0 X 9793 13552 720 57860 255542 337467 15549927 16046844 16765644 17558473 18122436 84043324 113927 90457 93653 150284 139717 588038 15673647 16150853 16860017 17766617 18517695 84968829 0 0 0 84968829 882804 1562282 575967 563937 508320 4093310 882804 1562282 575967 563937 508320 4093310 43864 55241 26378 4709 25833 156025 16600315 17768376 17462362 18335263 19051848 89218164 0.95240 0.94890 0.04590 0.04910 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 2274 2274 0 EXPLANATION OF OTHER LOBBYING ACTIVITIES: PART II-B, LINE 1I: ANNAPOLIS LIFE CARE, INC. IS A MEMBER OF INDUSTRY GROUP LIFESPAN NETWORK. THE ORGANIZATION PAID $10,396 IN DUES TO LIFESPAN OF WHICH 21.67% WERE ALLOCATED TO LOBBYING EXPENSES. 3735917 3735917 71815589 22982752 48832837 5422448 3377535 2044913 8770066 4188391 4581675 104401 104401 59299743 ALTERNATIVE INVESTMENTS - HEDGE FUNDS 8346274 F 8346274 DUE TO RELATED PARTY 165684 INTEREST RATE SWAP 4569000 DEPOSITS 2471813 7206497 18845371 20796652 -1951281 4168458 221504 4389962 2438681 23782319 4168458 256121 4424579 19357740 22400 -534769 -512369 18845371 21343638 569386 569386 20774252 22400 22400 20796652 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE CORPORATION FOLLOWS THE PROVISIONS OF GENERALLY ACCEPTED ACCOUNTING STANDARDS THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN A COMPANY'S FINANCIAL STATEMENTS, INCLUDING NOT-FOR-PROFIT CORPORATIONS, AND PRESCRIBES A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD HAS BEEN MET. THE STANDARDS ALSO PROVIDE GUIDANCE ON DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, AND DISCLOSURE. MANAGEMENT HAS DETERMINED THAT THIS STANDARD DOES NOT HAVE A MATERIAL IMPACT ON THE FINANCIAL STATEMENTS. THE CORPORATION'S FEDERAL EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURNS FOR THE YEARS ENDED JUNE 30, 2010, 2009, AND 2008 REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. PART XI, LINE 8 - OTHER ADJUSTMENTS: UNREALIZED LOSS ON INTEREST RATE SWAP -14,370. CHANGE IN INTEREST OF NET ASSETS OF FOUNDATION 256,121. CONSOLIDATED ELIMINATION ADJUSTMENT -20,247. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN INTEREST OF NET ASSETS OF FOUNDATION 256,121. PART XII, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -657. LOSS ON DISPOSAL OF PROPERTY -534,112. PART XIII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 657. LOSS ON DISPOSAL OF PROPERTY 534,112. UNREALIZED LOSS ON INTEREST RATE SWAP AGREEMENT 14,370. INTER-COMPANY ELIMINATION 20,247. 1 GINGER COVE FOUNDATION 4000 RIVER CRESENT DRIVE ANNAPOLIS MD 21401 113656031 501(C)(3) 124189 DEBT FORGIVENESS 1 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE ORGANIZATION FORGIVES THE DEBT OF ITS RELATED ORGANIZATION BASED UPON A 1:2 RATIO OF DEBT FORGIVENESS TO CONTRIBUTIONS MADE BY THE RELATED ENTITY TO THE FILING ORGANIZATION. X X X 0 0 0 0 0 0 0 0 0 DR EDGAR MALLICK 171316 0 16000 0 0 0 35797 0 0 0 223113 0 84519 0 MARYLAND HEALTH AND HIGHER EDUCATION FACILITIES AUTHORITY 520936091 2009-11-04 30000000 REFINANCING PRIOR BOND ISSUE 0 0 0 MARYLAND HEALTH AND HIGHER EDUCATION FACILITIES AUTHORITY 520936091 2010-01-04 15266180 REFINANCING PRIOR BOND ISSUE 0 0 0 870018 30000000 272028 29727972 2010 1 0 1 1 326995 15266180 140136 15126044 2010 1 0 1 1 0 1 1 0 1 0.00300 0.00000 0.00300 1 0 1 1 0 1 0.00300 0.00000 0.00300 1 0 1 1 CITIZENS BANK 10.000000000000 1 0 0 0 0 0 1 1 CITIZENS BANK 10.000000000000 1 0 0 0 0 FORM 990, PART VI, SECTION A, LINE 3 ANNAPOLIS LIFE CARE, INC. IS UNDER CONTRACT WITH LIFE CARE SERVICES TO PROVIDE OPERATIONAL SOFTWARE, WHICH IS CONTROLLED AND SUPPORTED BY LIFE CARE SERVICES. FORM 990, PART VI, SECTION B, LINE 11 THE ANNAPOLIS LIFE CARE FINANCE COMMITTEE CHAIRMAN, CHIEF FINANCIAL OFFICER, EXECUTIVE DIRECTOR/CEO, AND DIRECTOR OF FINANCIAL SERVICES PERFORM AN INITIAL REVIEW OF THE FORM 990. THE APPROVED FORM IS THEN REPORTED TO THE FINANCE & AUDIT COMMITTEE AND ALL BOARD MEMBERS RECEIVE A COPY OF THE RETURN BEFORE THE FORM IS SUBMITTED TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ANNAPOLIS LIFE CARE HAS A CONFLICT OF INTEREST POLICY FOR ALL BOARD MEMBERS OF WHICH THE CONFLICT OF INTEREST STATEMENT IS UPDATED ANNUALLY. THIS POLICY ALSO APPLIES TO ADVISORY MEMBERS OF BOARD COMMITTEES. ANY ACTUAL OR POTENTIAL CONFLICTS ARE EXPECTED TO BE DISCLOSED. THE PRESIDENT AND SECRETARY OF THE BOARD WILL RECEIVE ALL ANNUAL CONFLICT OF INTEREST STATEMENTS AND ALL CHAIRMEN OF STANDING BOARD COMMITTEES. IF AN ACTUAL OR POTENTIAL CONFLICT WERE TO EXIST, THE INTERESTED PARTY WOULD ABSTAIN FROM ALL DISCUSSIONS AND DECISIONS ON THE CONFLICT. FAMILY AND BUSINESS RELATIONSHIPS WHICH MAY POSE A CONFLICT ARE EXPRESSLY CONSIDERED IN THE POLICY AND THE ANNUAL STATEMENT. FORM 990, PART VI, SECTION B, LINE 15 A THREE MEMBER COMMITTEE FROM THE ANNAPOLIS LIFE CARE BOARD OF DIRECTORS COMPILES RESULTS OF PERFORMANCE EVALUATIONS COMPLETED BY EACH BOARD MEMBER, REVIEWS THE CURRENT COMPENSATION STRUCTURE FOR THE EXECUTIVE DIRECTOR, REVIEWS INDUSTRY SALARY SURVEY DATA FOR THE REGION AND NATIONALLY, AND MAKES RECOMMENDATIONS TO BOTH THE EXECUTIVE COMMITTEE AND THE FULL BOARD OF DIRECTORS. THIS PROCESS IS COMPLETED ANNUALLY. OTHER KEY EMPLOYEES ARE REVIEWED BY THE EXECUTIVE DIRECTOR ANNUALLY ON A VARIETY OF STRATEGIC MEASURES. INCREASES AND/OR BONUSES ARE DETERMINED BASED ON ON THE RESULTS OF THE ANNUAL REVIEW. ALL COMPENSATION ADJUSTMENTS ARE MEASURED AGAINST INDUSTRY STANDARDS TO ENSURE COMPENSATION IS SET WITHIN FAIR MARKET RANGE FOR THE INDUSTRY. FORM 990, PART VI, SECTION C, LINE 19 THE BYLAWS AND FINANCIAL STATEMENTS ARE LOCATED IN THE GINGER COVE LIBRARY FOR PUBLIC REVIEW AND THE CONFLICT OF INTEREST POLICY IS AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 4,168,458. UNREALIZED LOSS ON INTEREST RATE SWAP -14,370. CHANGE IN INTEREST OF NET ASSETS OF FOUNDATION 256,121. CONSOLIDATED ELIMINATION ADJUSTMENT -20,247. TOTAL TO FORM 990, PART XI, LINE 5: 4,389,962. AUDIT OVERSIGHT: FORM 990, PAGE 12, PART XII, QUESTION 2C THE FINANCE & AUDIT COMMITTEE APPOINTS AN AUDIT SUB-COMMITTEE WHICH PROVIDES REGULAR REPORTS TO THE FINANCE & AUDIT COMMITTEE AND TO THE FULL BOARD OF DIRECTORS. AUDITORS MEET WITH THE FINANCE & AUDIT COMMITTEE ANNUALLY TO REVIEW THE AUDIT REPORT IN DETAIL. AUDITORS ALSO MEET WITH THE APPOINTED AUDIT SUB-COMMITTEE SEPARATELY ON SEVERAL OCCASIONS TO DISCUSS THE AUDIT. ANNAPOLIS LIFE CARE PERIODICALLY OBTAINS PROPOSALS FOR ALL AUDIT FIRMS THAT ARE BEING CONSIDERED. GINGER COVE HOME HEALTH CARE LLC 4000 RIVER CRESCENT DRIVE ANNAPOLIS MD 21401 521381348 HOME HEALTH CARE SERVICES MD -19430 31099 N/A GINGER COVE FOUNDATION INC 4000 RIVER CRESCENT DRIVE ANNAPOLIS MD 21401 113656031 TO SUPPORT AFFILATED ORGANIZATIONS MD 501(C)(3) LINE 11C, III-FI N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 GINGER COVE FOUNDATION INC P 113943 GINGER COVE HOME HEALTH CARE LLC P 165684