2012-07-23T12:35:11-05:00 2011-12-31 520783935 SMITH ELLIOTT KEARNS & COMPANY LLC 480 N POTOMAC STREET HAGERSTOWN MD 21740 990 2011-01-01 520610464 FAHRNEY-KEEDY MEMORIAL HOME INC AKA FAHRNEY-KEEDY HOME AND VILLAGE FAHR 3017336284 8507 MAPLEVILLE ROAD BOONSBORO MD 217131844 WAYNE STOUFFER 3017336284 2012-07-09 1 EDWARD L BUCHANAN IV CPA P00029001 3017335020 2011 2016-02-24 21:20:13Z KEITH BRYAN 8507 MAPLEVILLE ROAD BOONSBORO MD 21713 12507771 0 X WWW.FKHV.ORG X 1905 MD CONTINUING CARE RETIREMENT COMMUNITY, INDEPENDENT LIVING, ASSISTED LIVING, AND NURSING CARE 11 11 231 110 0 0 264986 541331 10663901 11890509 25860 59691 6340 7691 10961087 12499222 0 0 0 0 6842259 6884535 0 0 30329 3729325 4524887 10571584 11409422 389503 1089800 17610450 19123788 5810643 6645113 11799807 12478675 X WE ARE COMMITTED TO ENHANCING THE LIVES OF SENIORS THROUGH CARING QUALITY SERVICES. WE ARE A CONTINUING CARE RETIREMENT COMMUNITY (CCRC) WITH INDEPENDENT LIVING SERVICES, ASSISTED LIVING SERVICES, AND NURSING SERVICES. THE ORGANIZATION HAS 35 INDEPENDENT LIVING COTTAGES, 26 INDEPENDENT LIVING APARTMENTS, 32 ASSISTED LIVING BEDS, AND A 97 BED SKILLED NURSING FACILITY LOCATED IN BOONSBORO, MARYLAND. 0 0 5646767 9208740 NURSING SERVICES TO PRIVATE PAY, MEDICARE, AND MEDICAID RESIDENTS 664072 1721566 ASSISTED LIVING SERVICES 442881 822998 INDEPENDENT LIVING SERVICES 3537661 137205 ALL OTHER SERVICES INCLUDE EXECUTIVE MANAGEMENT SERVICES, BUSINESS SUPPORT SERVICES, OTHER PATIENT CARE EXPENSES, DIETARY SERVICES, AND PROPERTY SERVICES. 3537661 137205 10291381 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 37 0 1 231 1 0 0 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 0 0 0 1 1 0 0 1 1 0 0 1 1 1 0 0 MD X WAYNE STOUFFER 3017336284 8507 MAPLEVILLE ROAD BOONSBORO MD 21713 KEITH BRYAN 40.00 X X 74500 0 0 JOSEPH DAHMS 2.00 X X 0 0 0 LERRY FOGLE 2.00 X X 0 0 0 KAREN KILEY 2.00 X X 0 0 0 ELLEN CATLETT 2.00 X 0 0 0 WILLIAM WANTZ 2.00 X 0 0 0 CHARLES WILES 2.00 X 0 0 0 DONNA RITCHEY MARTIN 2.00 X 0 0 0 ED BREWER 2.00 X 0 0 0 LOYAL VANDERVEER 2.00 X 0 0 0 PHIL ZIMMERMAN 2.00 X 0 0 0 MICHAEL LEITER 40.00 X 63823 0 8094 WAYNE STOUFFER 40.00 X 57405 0 2261 195728 0 10355 0 0 0 0 CULINARY SERVICES GROUP LLC 15 E MAIN STREET SUITE 224 WESTMINSTER MD 21157 FOOD SERVICE MANAGEMENT 912007 CIGNAGREAT-WEST HEALTHCARE TWO LIBERTY PLACE 1601 CHESTNUT ST PHILADELPHIA PA 19192 HEALTH INSURANCE 810538 FLAGSHIP REHABILITATION SERVICES 157 BALTIMORE STREET SUITE 102 CUMBERLAND MD 21502 SKILLED NURSING REHABILITATION SERVICES 563151 MARYLAND ENVIRONMENTAL SERVICE 259 NAJOLES ROAD MILLERSVILLE MD 21108 WATER TREATMENT CONTRACTOR 216110 REMEDI SENIORCARE PO BOX 62083 BALTIMORE MD 21264 INSTITUTIONAL PHARMACY 214203 11 541331 541331 PATIENT SERVICE 623000 10930306 10930306 AMORTIZATION OF ENTRAN 623000 591397 591397 INDEPENDENT LIVING 623000 231601 231601 MISCELLANEOUS PROGRAM 623000 137205 137205 11890509 63533 63533 3842 -3842 -3842 -3842 12398 4707 7691 7691 12499222 11890509 0 67382 206083 5089 200994 5326136 4830615 466168 29353 29014 22609 6405 910344 852382 57962 412958 365007 46975 976 38950 38950 52245 29750 22495 33653 33653 1634119 1590347 43772 39607 1188 38419 494409 453473 40936 52809 52809 525471 507232 18239 149749 140696 9053 6976 4844 2132 7274 6900 374 503791 482219 21572 88923 84352 4571 REPAIRS & MAINTENANCE 344827 334429 10398 FOOD COSTS 310328 310328 PRESCRIPTION DRUGS 195036 195036 OVER THE COUNTER DRUGS 43657 43657 3063 -7722 10785 11409422 10291381 1087712 30329 6195 480794 2192187 2727414 957628 966084 138682 91030 17347430 9377552 7033943 7969878 706215 726035 49964 28601 6525636 6133952 17610450 19123788 583654 702000 2972520 2794612 2185797 2863246 68672 285255 5810643 6645113 X 5216377 6275039 6583430 6203636 11799807 12478675 17610450 19123788 X 1089800 -410932 X X 0 1 0 X 0 X 589160 230779 253091 264986 541331 1879347 9859278 10376080 10521938 10674341 11902907 53334544 10448438 10606859 10775029 10939327 12444238 55213891 0 0 0 55213891 142286 108130 61177 30858 63533 405984 142286 108130 61177 30858 63533 405984 97062 136479 233541 10687786 10851468 10836206 10970185 12507771 55853416 0.98850 0.98600 0.00730 0.00830 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 756179 5910 7453 754636 662167 94012 756179 510455 165112 13400 662167 833894 -252115 71324 510455 1.00000 0 0 10284 10284 13911886 7409671 6502215 1618359 1329264 289095 1806901 638617 1168284 7969878 BENEFICIAL INTEREST IN TRUSTS 5203636 OPERATING RESERVE 861171 DEFERRED COSTS, NET 69145 6133952 ESTIMATED UNREPORTED CLAIMS 70206 DUE TO THIRD-PARTY PAYOR 172030 CAPITAL LEASE 43019 285255 12499222 11409422 1089800 -410932 -410932 678868 12092997 -410932 4707 -406225 12499222 0 12499222 11414129 4707 4707 11409422 0 11409422 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE HOME HAS AN ENDOWMENT FUND, OF WHICH THE ORIGINAL PRINCIPAL PORTION OF THE FUND IN THE AMOUNT OF $1,000,000 MAY NOT BE EXPENDED. THE INCOME EARNED ON THE ENDOWMENT FUND, INCLUDING APPRECIAITON, IS EXPENDABLE, BUT ONLY FOR THE MAINTENANCE AND REPAIR OF THE HOME'S FACILITIES, AS REQUIRED BY THE DONOR. ASC 958 PROVIDES GUIDANCE ON THE NET ASSET CLASSIFICATION OF DONOR RESTRICTED ENDOWMNET FUNDS FOR A NOT-FOR-PROFIT ORGANIZATION THAT IS SUBJECT TO AN ENACTED VERSION OF THE UNIFORM PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS ACT OF 2006 (UPMIFA). ASC 958 ALSO REQUIRES DISCLOSURES ABOUT AN ORGANIZATION'S ENDOWMENT FUNDS (BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND BOARD DESIGNATED ENDOWMENT FUNDS), WHETHER OR NOT THE ORGANIZATION IS SUBJECT TO UPMIFA. THE STATE OF MARYLAND HAS ADOPTED UPMIFA AND THE HOME FOLLOWS ASC 958 GUIDANCE. THE HOME IS GOVERNED BASED ON ITS GOVERNING DOCUMENTS. THE BOARD OF DIRECTORS HAS DETERMINED THAT THE MAJORITY OF THE HOME'S CONTRIBUTIONS ARE SUBJECT TO THE TERMS OF ITS GOVERNING DOCUTMENTS. CERTAIN CONTRIBUTIONS ARE RECEIVED SUBJECT TO OTHER GIFT INSTRUMENTS, OR ARE SUBJECT AGREEMENTS WITH THE HOME. PERMANENTLY RESTRICTED NET ASSETS REPRESENT THE FAIR VALUE OF THE ORIGINAL GIFT AS OF THE GIFT DATE AND THE ORIGINAL VALUE OF SUBSEQUENT GIFTS TO DONOR-RESTRICTED ENDOWMENT FUNDS. ENDOWMENT INVESTMENT AND SPENDING POLICY: THE HOME'S INVESTMENT POLICY IS TO PROVIDE A COMMON INVESTMENT VEHICLE, WHICH WILL GENERAGE A STABLE AND CONTINUOUSLY GROWING INCOME STREAM TO SUPPORT OPERATIONS. THE OVERALL INVESTMENT GOAL IS TO PRESERVE THE PURCHASING POWER OF HTE FUTURE STREAM OF ENDOWMENT PAYOUT FOR THOSE FUNDS. OTHER GOALS INCLUDE MAXIMIZING RETURN WITHIN REASONABLE AND PRUDENT LEVELS OF RISK AND MAXIMIZING THE VALUE OF THE ENDOWMENT WHILE MAINTAINING LIQUIDITY NEEDED TO SUPPORT SPENDING IN PROLONGED DOWN MARKETS. THE HOME SEEKS A RETURN ON INVESTMENT CONSISTENT WITH LEVELS OF INVESTMENT RISK THAT ARE PURDENT AND REASONABLE GIVEN MEDIUM-TO-LONG-TERM CAPITAL MARKET CONDITIONS AND THE INVESTMENT OBJECTIVES. THE HOME HAS BEEN ENABLED BY DONORS TO SPEND THE INTEREST AND DIVIDENDS DERVIED FROM THE ENDOWMENT FUND ON ITS OPERATIONS. FROM TIME TO TIME, THE FAIR VALUE OF ASSETS ASSOCIATED WITH INDIVIDUAL DONOR-RESTRICTED ENDOWMENT FUNDS MAY FALL BELOW THE LEVEL THAT THE DONOR REQUIRES THE HOME TO RETAIN AS A FUND OF PERPETUAL DURATION. IN ACCORDANCE WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA, DEFICIENCIES OF THIS NATURE THAT ARE REPORTED IN UNRESTRICTED NET ASSETS WERE $(245,364) AND $(243,821) AS OF DECEMBER 31, 2011 AND 2010, RESPECTIVELY. THESE DEFICIENCIES RESULTED FROM UNFAVORABLE MARKET FLUCTUATIONS THAT OCCURRED SHORTLY AFTER THE INVESTMENT OF NEW PERMANENTLY RESTRICTED CONTRIBUTIONS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE HOME IS EXEMPT FROM FEDERAL INCOME TAXES UNDER IRC SECTION 501(C)(3). ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS REFLECTED IN THESE FINANCIAL STATEMENTS. INCOME WHICH IS NOT RELATED TO EXEMPT PURPOSES, LESS APPLICABLE DEDUCTIONS, IS SUBJECT TO FEDERAL AND STATE CORPORATE INCOME TAXES. THE HOME HAD NO NET UNRELATED BUSINESS INCOME FOR THE YEARS ENDED DECEMBER 31, 2011 AND 2010. THE HOME FOLLOWS THE FASB ACCOUNTING STANDARDS CODIFICATION, WHICH PROVIDES GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTERPRISE'S FINANCIAL STATEMENTS. AS OF DECEMBER 31, 2011 AND 2010, THE HOME HAD NO UNCERTAIN TAX POSITIONS THAT REQUIRE EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. GENERALLY, THE TAX YEARS BEFORE 2008 ARE NO LONGER SUBJECT TO EXAMINATION BY FEDERAL, STATE OR LOCAL TAXING AUTHORITIES. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EXPENSE REPORTED ON PART VIII, LINE 8B 4,707. PART XIII, LINE 2D - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EXPENSE REPORTED ON PART VIII, LINE 8B 4,707. FORM 990, PART VI, SECTION B, LINE 11 THE BOARD MEETS SEMI-MONTHLY AND THE 990 INFORMATION IS PROVIDED AT THEIR NEXT MEETING AFTER THE 990 IS RECEIVED. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS AND SUBMITTED IN A LETTER BY THE PRESIDENT OF THE BOARD OF DIRECTORS TO THE ACCOUNTING DEPARTMNET. FORM 990, PART VI, SECTION C, LINE 18 DOCUMENTS FOR PUBLIC INSPECTION ARE AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE FOR INSPECTION IN THE ACCOUNTING OFFICE AND THE CEO'S OFFICE. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -410,932. FORM 990, PART XI, LINE 2C, OVERSIGHT OF AUDIT: UNCHANGED FROM PRIOR YEARS, THE OVERSIGHT OF THE AUDIT OF THE FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT IS THE RESPONSIBILITY OF THE DIRECTOR OF ACCOUNTING, THE ASSISTANT DIRECTOR OF ACCOUNTING, AND THE SENIOR DIRECTOR OF ADMINISTRATIVE SERVICES.