2011-10-03T15:40:56-05:00 2010-12-31 PLANTE & MORAN PLLC 750 TRADE CENTRE WAY STE 300 PORTAGE MI 49002 990 2010-01-01 237010671 SUNSET MANOR INC SUNS 6164572770 725 BALDWIN JENISON MI 49428 BRENDA CURTIS 6164572770 2011-09-29 1 CAROL LALONDE CPA 2695674500 2010 2016-03-07 17:11:31Z BROOKCREST SUNSET ASSOCIATION RICHARD FREERKSEN 725 BALDWIN JENISON MI 49428 38714276 0 X WWW.SUNSETMANOR.ORG X 1968 MI PROVIDE QUALITY HOUSING AND SERVICES FOR SENIORS IN THE GREATER GRAND RAPIDS AREA THROUGH THE OPERATION OF A RETIREMENT COMMUNITY, A SKILLED NURSING FACILITY AND HOME HEALTH SERVICES. 12 12 695 350 0 0 170459 356355 22110116 23591119 147329 -493275 1284651 42011 23712555 23496210 0 0 0 0 12747064 12923898 0 0 341181 10578817 12501519 23325881 25425417 386674 -1929207 72785005 72767754 62619430 63328827 10165575 9438927 TO PROVIDE QUALITY CARE, IN A CHRISTIAN ENVIRONMENT, FOR WEST MICHIGAN SENIORS AND PERSONS WITH SPECIAL NEEDS. COMMITMENT TO SERVE, COMMITMENT TO FINANCIAL RESPONSIBILITY, COMMITMENT TO EACH EMPLOYEE AND COMMITMENT TO OUR CONSTITUENTS. 0 0 10252566 9492543 PROVIDE QUALITY HOUSING AND SERVICES TO 468 SENIORS 8320142 11185795 SKILLED NURSING CARE FOR 691 PERSONS WITH SPECIAL NEEDS 1395406 1658005 PROVIDE HOME HEALTH SERVICES TO 546 SENIORS 19968114 1 1 0 0 0 0 0 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 51 0 1 695 1 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 1 1 0 1 1 0 0 0 1 1 0 1 0 1 0 0 MI X BRENDA CURTIS 6164572770 725 BALDWIN JENISON MI 49428 LARRY VREDEVOOGD 1.00 X X 0 0 0 GARY POPMA 1.00 X X 0 0 0 GARY KAPTEIN 1.00 X X 0 0 0 MITCH DYKSTRA 1.00 X X 0 0 0 DENNIS BUSH 1.00 X 0 0 0 CALVIN MATTHYSSE 1.00 X 0 0 0 LARRY KERKSTRA 1.00 X 0 0 0 CHERYL BLOUW 1.00 X 0 0 0 JUDY BAKER 1.00 X 0 0 0 JIM DEVRIES 1.00 X 0 0 0 DOUG HAVEMAN 1.00 X 0 0 0 JOHN BAATENBURG 1.00 X 0 0 0 HENRIETTA BYKER NONVOTING 1.00 X 0 0 0 JACK BUIST 1.00 X 0 0 0 DON TERBEEK 1.00 X 0 0 0 RICHARD FREERKSEN 40.00 X X 141033 0 25796 BRENDA CURTIS 40.00 X 92790 0 13522 233823 0 39318 1 0 1 0 THE CHRISTMAN COMPANY 208 N CAPITOL AVE LANSING MI 48933 GENERAL CONTRACTOR 397866 SPECIALIZED PHARMACY L2650 COLUMBUS OH 43260 PHARMACY SERVICES 287501 2 78032 278323 356355 RESIDENTIAL CARE 623000 22336343 22336343 ADVANCED FEE REVENUE 623000 550597 550597 OTHER RESIDENT SERVICE 623000 383449 383449 PROCESSING FEE REVENUE 623000 188000 188000 MEALS REVENUE 722210 132730 132730 23591119 142652 142652 65598 65598 65598 65598 14558552 15194479 -635927 -635927 -635927 0 78032 23587 -23587 -23587 23496210 23591119 0 -451264 274268 274268 10191674 9806787 319164 65723 306892 124211 182681 1356625 671394 674265 10966 794439 697880 91000 5559 3496 3496 52630 11275 41355 399419 82425 316994 227549 29760 22646 175143 152500 25403 81020 46077 1629228 1484406 144822 86385 43999 42386 41277 4273 37004 1838338 1787873 50465 2488090 2040004 415182 32904 297584 23558 274026 MEALS 1640196 1640196 MISCELLANEOUS 842726 114119 728607 SUPPLIES 833840 833840 QAAP TAX 819057 819057 REFINANCING FEES 499146 499146 650058 546711 98538 4809 25425417 19968114 5116122 341181 2375940 2149053 2138221 2083313 200697 209832 238427 144344 71484453 24649472 48926145 46834981 13157795 13219634 5747780 8126597 72785005 72767754 3235574 1503884 46585000 45545000 12798856 16279943 62619430 63328827 X 10165575 9438927 10165575 9438927 72785005 72767754 X -1929207 1202559 X X 0 1 1 X 0 X 233136 149786 254977 170459 356355 1164713 21053800 21828173 22370425 23376627 23591119 112220144 21286936 21977959 22625402 23547086 23947474 113384857 0 0 0 113384857 642583 586100 397444 193337 208250 2027714 642583 586100 397444 193337 208250 2027714 21929519 22564059 23022846 23740423 24155724 115412571 0.98240 0.97880 0.01760 0.02120 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2492046 356355 465843 78098 50466 3185680 1867866 198327 536585 59953 50779 2492046 2759592 254977 -982721 113706 50276 1867866 1.00000 0 0 4460652 4460652 44257529 12918989 31338540 7974081 4248012 3726069 11777355 5565164 6212191 3014836 1917307 1097529 46834981 BOND ESCROW 7078124 BOND FINANCING COSTS, NET OF AMORTIZATION 777318 WATERFORD LEASE ESCROW 271155 8126597 REFUNDABLE ENTRANCE FEES AND DEPOSITS 12243289 DEFERRED ENTRANCE FEE INCOME 2224388 CHARITABLE GIFT ANNUITIES 314099 INTEREST RATE SWAP LIABILITY 1498167 16279943 23496210 25425417 -1929207 1689348 -486789 1202559 -726648 24722356 1689348 -486789 1202559 23519797 -23587 -23587 23496210 24949858 23587 23587 24926271 499146 499146 25425417 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: PROVIDE BENEVOLENCE FOR RESIDENTS WHO HAVE OUTLIVED THEIR FUNDS. PROVIDE FUNDS FOR SPECIFIC CAPITAL PROJECTS AS DETERMINED BY THE BOARD OF DIRECTORS OR AS DESIGNATED BY DONORS. PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN FAIR VALUE OF SWAP AGREEMENT -486,789. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN FAIR VALUE OF INTEREST RATE SWAP AGREEMENT -486,789. PART XII, LINE 4B - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES -23,587. PART XIII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 23,587. PART XIII, LINE 4B - OTHER ADJUSTMENTS: LOSS ON REFINANCING 499,146. FALL GALA 78032 78032 1500 15175 4588 2324 78032 78032 1500 15175 4588 2324 23587 -23587 0.00000 0.00000 X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 RICHARD FREERKSEN 141033 0 0 0 0 0 0 0 25796 0 166829 0 0 0 PART I, LINE 1A $534 FOR RICHARD FREERKSEN, WAS NOT TREATED AS TAXABLE. THE ECONOMIC DEVELOPMENT CORP OF THE TWP OF GEORGETOWN 386005370 373107AP6 2005-02-24 16015000 REFUND SERIES 1995 BONDS; FUND ACQUISITION OF WATERFORD PLACE 1 1 0 THE ECONOMIC DEVELOPMENT CORP OF THE TWP OF GEORGETOWN 386005370 NONEAVAIL 2009-12-21 26000000 COVER COST OF WATERFORD PLACE CONSTRUCTION 0 1 0 THE ECONOMIC DEVELOPMENT CORP OF THE TWP OF GEORGETOWN 386005370 NONEAVAIL 2010-04-01 20585000 CONVERT 2000 & 2005 BONDS TO BANK QUALIFIED BONDS TO LOWER INTEREST COST 0 1 0 16015000 303273 4255899 2006 1 0 1 1 26000000 146000 2010 1 0 1 1 20585000 2010 1 0 1 1 0 0 0 0 1 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 1 0 1 0 0 0 1 0 1 0 0 0 1 DOING BUSINESS AS FORM 990, PART I, ITEM C SUNSET HOME SERVICES, SUNSET RETIREMENT COMMUNITIES & SERVICES, WATERFORD PLACE FORM 990, PART VI, SECTION A, LINE 6 ORGANIZATION HAS MEMBERS FORM 990, PART VI, SECTION A, LINE 7A ASSOCIATION MEMBERS ELECT MEMBERS OF THE GOVERNING BOARD. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY THE CHIEF EXECUTIVE AND CHIEF FINANCIAL OFFICERS, HOWEVER, NO REVIEW WAS OR WILL BE CONDUCTED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15A 2-3 MEMBERS OF THE BOARD OF DIRECTORS DISCUSS PERFORMANCE WITH OTHER MANAGEMENT AND INVESTIGATE WAGES OF OTHER CEOS IN THE AREA. RESULTS ARE GIVEN TO BOARD OF DIRECTORS WITH A RECOMMENDATION FOR WAGE INCREASE. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE AVAILABLE UPON REQUEST CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 1,689,348. CHANGE IN FAIR VALUE OF SWAP AGREEMENT -486,789. TOTAL TO FORM 990, PART XI, LINE 5: 1,202,559. FORM 990, PART XII, LINE 2C: THERE HAS BEEN NO CHANGE IN PROCESS FROM PRIOR YEAR.