2011-11-14T13:18:29-06:00 2010-12-31 LARSONALLEN LLP 2301 N GREENVILLE AVENUE SUITE 150 RICHARDSON TX 75082 990 2010-01-01 752503233 SEARS PANHANDLE RETIREMENT CORP SEAR 3256915519 ONE VILLAGE DRIVE NO 400 ABILENE TX 79606 D KEITH PERRY 3256915519 2011-11-09 1 9726443167 2010 2016-03-07 17:11:31Z D KEITH PERRY 1114 LOST CREEK BLVD STE 220 AUSTIN TX 78746 13314457 0 X WWW.SEARS-METHODIST.COM X 1997 TX THE MISSION OF SEARS IS TO PROVIDE LEADERSHIP IN RESPONSE TO THE NEEDS OF OUR AGING POPULATION. WE BELIEVE WE HAVE A RESPONSIBILITY FOR STUDYING, PLANNING, DEVELOPING, AND IMPLEMENTING QUALITY SERVICE TO THE AGING WHERE APPROPRIATE NEEDS ARE FOUND FOR HEALTH CARE AND RESIDENTIAL LIVING SERVICES AND CAN BE PROVIDED IN A CHRISTIAN ENVIRONMENT. 11 11 358 74 0 0 36761 38995 13132467 13252100 28126 29670 6909 -6308 13204263 13314457 0 0 0 0 5377198 5353125 0 0 0 4748829 5089047 10126027 10442172 3078236 2872285 31807998 31409276 7349375 7304628 24458623 24104648 X THE MISSION OF SEARS IS TO PROVIDE LEADERSHIP IN RESPONSE TO THE NEEDS OF OUR AGING POPULATION. WE BELIEVE WE HAVE A RESPONSIBILITY FOR STUDYING, PLANNING, DEVELOPING, AND IMPLEMENTING QUALITY SERVICE TO THE AGING WHERE APPROPRIATE NEEDS ARE FOUND FOR HEALTH CARE AND RESIDENTIAL LIVING SERVICES AND CAN BE PROVIDED IN A CHRISTIAN ENVIRONMENT. 0 0 8636955 13245792 SEARS PANHANDLE RETIREMENT CORPORATION IS A NON-PROFIT 501 (C)(3) ORGANIZATION, WHICH CONSISTS OF 173 INDEPENDENT LIVING AND COTTAGES AND 40 ASSISTED LIVING UNITS AS WELL AS A 120 BED LONG TERM CARE SKILLED NURSING AND DEMENTIA CARE COMMUNITY. THE FACILITY PROVIDES NURSING HOME AND DEMENTIA CARE OPERATIONS. IT ALSO PROVIDES LONG-TERM NURSING CARE TO ELDERLY AS WELL AS A MEDICARE SKILLED UNIT FOR REHABILITATION. 8636955 1 1 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 33 0 358 1 0 0 0 0 0 0 0 0 0 0 X 11 11 0 1 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X TERRY MYERS CFO 5123296716 1114 LOST CREEK BLVD SUITE 400 AUSTIN TX 78746 JEFFREY A SMITH 2.00 X 0 0 0 RICK RHODES 2.00 X 0 0 0 VANCE GODDARD 2.00 X 0 0 0 STEVE EXTER 2.00 X 0 0 0 D KEITH PERRY 40.00 X X 0 347083 48173 TERRY MYERS 40.00 X X 0 189392 9462 TIM JOHNSON 40.00 X X 0 189488 9135 JAN THOMPSON 40.00 X X 0 247698 12360 MIKE SIMS 40.00 X X 0 171774 8324 MARK HORNER 40.00 X X 0 161892 8712 MARY JANE FITTS 40.00 X X 0 184379 8500 0 1491706 104666 0 0 1 0 SYSCO WEST TEXAS INC PO BOX 5910 LUBBOCK TX 79408 FOOD SERVICES 478768 PHARMERICA PO BOX 409251 ATLANTA GA 30384 MEDICAL SUPPLIES 183402 GOWDY FLOORING INC 6801 S BELL 1000 AMARILLO TX 79109 CARPETING AND FLOORING 148311 MEDLINE INDUSTRIES INC PO BOX 121080 DEPT 1080 DALLAS TX 75312 DIAPER AND MEDICAL SUPPLIES 138382 NRC CONSTRUCTION 6600 PLUM CREEK DRIVE 221 AMARILLO TX 79124 REPAIRS AND PAINTING 110052 5 38995 38995 RESIDENT CHARGES 623000 12953681 12953681 OTHER REVENUE 623000 298419 298419 13252100 29670 29670 OTHER NONOPERATING REV 623000 -6308 -6308 -6308 13314457 13245792 0 29670 4603454 4157495 445959 406067 366729 39338 343604 310317 33287 600000 600000 2184 2184 321480 321480 228668 228668 112848 112848 455118 393747 61371 51883 30885 20998 3963 2235 1728 967 837 130 1134133 981198 152935 267581 231498 36083 ANCILLARY 948154 948154 FOOD 479011 479011 SUPPLIES 343763 312378 31385 EQUIPMENT RENTAL 91796 79418 12378 DUES AND SUBSCRIPTIONS 23886 21573 2313 23612 23612 10442172 8636955 1805217 0 1002 1002 350757 1383051 466055 426013 500000 500000 43905 34770 21234 16909 41045388 14456806 27423597 26588582 1439226 1444192 1562222 1014757 31807998 31409276 405470 512475 5900678 5891165 1043227 900988 7349375 7304628 X 24458623 24104648 24458623 24104648 31807998 31409276 X 2872285 -3226260 X X 0 1 1 X 0 X 4195 48207 49626 36761 38995 177784 15272819 15745212 12873103 13094489 13252100 70237723 15277014 15793419 12922729 13131250 13291095 70415507 0 0 0 70415507 23047 30297 34771 28126 29670 145911 23047 30297 34771 28126 29670 145911 29958 7755 3415 6909 -6308 41729 15330019 15831471 12960915 13166285 13314457 70603147 0.99730 0.99730 0.00210 0.00190 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1393963 1393963 37834350 13071676 24762674 1817075 1385130 431945 26588582 DUE TO OTHER CAMPUSES 777767 RESIDENT SECURITY DEPOSITS 109675 OTHER CURRENT LIABILITIES 13546 900988 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE SYSTEM ADOPTED THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ORGANIZATION'S FINANCIAL STATEMENTS IN ACCORDANCE WITH THE INCOME TAX STANDARD. THIS STANDARD PRESCRIBES RECOGNITION AND MEASUREMENT OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. 1 CHARITABLE ROOM DISCOUNTS 14 158631 FMV ROOM DISCOUNTS PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE RECIPIENTS FILL OUT A DETAILED APPLICATION WHICH REQUIRES THE CEO'S APPROVAL BEFORE FUNDS ARE RELEASED FOR ASSISTANCE. X X X 0 1 0 0 0 0 0 0 0 D KEITH PERRY 0 317200 0 22425 0 7458 0 48173 0 0 0 395256 0 0 TERRY MYERS 0 189231 0 101 0 60 0 9462 0 0 0 198854 0 0 TIM JOHNSON 0 56731 0 0 0 132757 0 9135 0 0 0 198623 0 0 JAN THOMPSON 0 247200 0 101 0 397 0 12360 0 0 0 260058 0 0 MIKE SIMS 0 166477 0 101 0 5196 0 8324 0 0 0 180098 0 0 MARK HORNER 0 142734 0 16784 0 2374 0 8712 0 0 0 170604 0 0 MARY JANE FITTS 0 184020 0 101 0 258 0 8500 0 0 0 192879 0 0 PART I, LINE 4B D. KEITH PERRY PARTICIPATED IN A SUPPLEMENTAL NON QUALIFIED RETIREMENT PLAN. SEARS METHODIST RETIREMENT SYSTEM CONTRIBUTED $48,173 TO THE PLAN DURING THE YEAR. TIM JOHNSON PARTICIPATED IN A SUPPLEMENTAL NON QUALIFIED RETIREMENT PLAN. SEARS METHODIST RETIREMENT SYSTEM CONTRIBUTED $9,135 TO THE PLAN DURING THE YEAR. TERRY MYERS PARTICIPATED IN A SUPPLEMENTAL NON QUALIFIED RETIREMENT PLAN. SEARS METHODIST RETIREMENT SYSTEM CONTRIBUTED $9,462 TO THE PLAN DURING THE YEAR. MARK HORNER PARTICIPATED IN A SUPPLEMENTAL NON QUALIFIED RETIREMENT PLAN. SEARS METHODIST RETIREMENT SYSTEM CONTRIBUTED $8,712 TO THE PLAN DURING THE YEAR. MIKE SIMS PARTICIPATED IN A SUPPLEMENTAL NON QUALIFIED RETIREMENT PLAN. SEARS METHODIST RETIREMENT SYSTEM CONTRIBUTED $8,324 TO THE PLAN DURING THE YEAR. JAN THOMPSON PARTICIPATED IN A SUPPLEMENTAL NON QUALIFIED RETIREMENT PLAN. SEARS METHODIST RETIREMENT SYSTEM CONTRIBUTED $12,360 TO THE PLAN DURING THE YEAR. MARY JANE FITTS PARTICIPATED IN A SUPPLEMENTAL NON QUALIFIED RETIREMENT PLAN. SEARS METHODIST RETIREMENT SYSTEM CONTRIBUTED $8,500 TO THE PLAN DURING THE YEAR. FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION DELEGATES MANAGEMENT DUTIES INCLUDING SUPERVISING PERSONNEL, OPERATIONS, AND BUDGETING TO SEARS METHODIST RETIREMENT SYSTEM, INC., THE PARENT COMPANY. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS FOR SEARS METHODIST RETIREMENT SYSTEM, INC. HAS A GOVERNANCE COMMITTEE WHO IS RESPONSIBLE FOR NOMINATING NEW BOARD MEMBERS. THE NOMINATED BOARD MEMBERS ARE THEN VOTED ON BY THE FULL BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11 A COPY OF THE FORM 990 WAS EMAILED TO ALL BOARD MEMBERS FOR REVIEW AND APPROVAL BEFORE FILING THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST STATEMENTS ARE COMPLETED ANNUALLY BY SEARS METHODIST RETIREMENT SYSTEM BOARD OF TRUSTEES, SEARS TYLER METHODIST RETIREMENT CORPORATION BOARD OF DIRECTORS AND ALL SENIOR STAFF. ANY NEW BOARD MEMBERS OR SENIOR STAFF ARE REQUIRED TO COMPLETE THE STATEMENT UPON HIRE. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION FOR THE CEO IS DETERMINED BY THE SEARS METHODIST RETIREMENT SYSTEM BOARD IN AN ANNUAL REVIEW. ANY RAISE OR BONUS IS DISCUSSED AND VOTED ON BY THE BOARD. EVERY FEW YEARS AN OUTSIDE COMPENSATION SPECIALIST IS HIRED TO HELP DETERMINE COMPENSATION FOR THE CEO. EACH SENIOR VP OR EXECUTIVE VP REVIEW OR SALARY INCREASE IS DETERMINED BY THE CEO IN AN ANNUAL REVIEW PROCESS. EACH SENIOR VP HAS KEY OFFICERS UNDER THEM THAT ARE REVIEWED IN THE SAME MANNER. FORM 990, PART VI, SECTION C, LINE 19 ALTHOUGH NOT REQUIRED, THE ORGANIZATION WILL PROVIDE PHOTOCOPIES OF ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS TO THOSE WHO REQUEST ONE OR MORE OF THESE ITEMS. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: DEBT SERVICE PAYMENTS -3,215,172. CHANGE IN SMF INVESTMENT 4,966. INTERCOMPANY FUND TRANSFERS -16,054. TOTAL TO FORM 990, PART XI, LINE 5: -3,226,260. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. SEARS METHODIST CENTERS INC ONE VILLAGE DRIVE SUITE 400 ABILENE TX 79606 751234917 SENIOR LIVING TX 501(C)(3) 509(A)(2) N/A 0 SEARS METHODIST RETIREMENT SYSTEM INC ONE VILLAGE DRIVE SUITE 400 ABILENE TX 79606 752516330 SENIOR LIVING TX 501(C)(3) 509(A)(3) N/A 0 SEARS METHODIST FOUNDATION ONE VILLAGE DRIVE SUITE 400 ABILENE TX 79606 752692545 MANAGES CHARITABLE FUNDS FOR ALL SMRS RELATED ENTITIES TX 501(C)(3) 509(A)(3) N/A 0 SEARS PLAINS RETIREMENT CORP ONE VILLAGE DRIVE SUITE 400 ABILENE TX 79606 752768233 SENIOR LIVING TX 501(C)(3) 509(A)(2) N/A 0 SEARS BRAZOS RETIREMENT CORP ONE VILLAGE DRIVE SUITE 400 ABILENE TX 79606 010598053 SENIOR LIVING TX 501(C)(3) 509(A)(2) N/A 0 SEARS TYLER METHODIST RETIREMENT CORP ONE VILLAGE DRIVE SUITE 400 ABILENE TX 79606 203500571 SENIOR LIVING TX 501(C)(3) 509(A)(2) N/A 0 SEARS CAPROCK RETIREMENT CORP ONE VILLAGE DRIVE SUITE 400 ABILENE TX 79606 020709581 SENIOR LIVING TX 501(C)(3) 509(A)(2) N/A 0 SEARS PERMIAN RETIREMENT CORP ONE VILLAGE DRIVE SUITE 400 ABILENE TX 79606 752707608 SENIOR LIVING TX 501(C)(3) 509(A)(2) N/A 0 SENIOR DIMENSIONS INC ONE VILLAGE DRIVE SUITE 400 ABILENE TX 79606 752814016 SENIOR LIVING TX N/A C 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 SEARS METHODIST RETIREMENT SYSTEM INC L 600000