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 752707608 SEARS PERMIAN RETIREMENT CORP SEAR 3256915519 ONE VILLAGE DRIVE NO 400 ABILENE TX 79606 D KEITH PERRY 3256915519 2011-11-09 1 9726443167 2010 2016-02-24 21:20:13Z PARKS METHODIST RETIREMENT VILLAGE & D KEITH PERRY 1114 LOST CREEK BLVD STE 220 AUSTIN TX 78746 6938952 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 11 218 6 0 0 15525 136254 7036463 6802218 205 480 0 0 7052193 6938952 0 0 0 0 3311115 3474254 0 0 0 3095125 3033999 6406240 6508253 645953 430699 13790248 13892139 5797001 6191320 7993247 7700819 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 5557621 6802218 SEARS PERMIAN RETIREMENT CORPORATION, DBA: PARKS METHODIST RETIREMENT VILLAGE IS A NON-PROFIT 501 (C)(3) ORGANIZATION, WHICH CONSISTS OF 55 INDEPENDENT LIVING APARTMENTS AND COTTAGES AND 23 ASSISTED LIVING UNITS AS WELL AS A 90 BED NURSING FACILITY IN ODESSA, TEXAS. THE FACILITY PROVIDES NURSING HOME AND LONG-TERM NURSING CARE TO ELDERLY AS WELL AS A MEDICARE SKILLED UNIT FOR REHABILITATION. SEARS PERMIAN RETIREMENT CORPORATION, DBA: DESERT HAVEN CONSISTS OF 40 INDEPENDENT LIVING APARTMENTS AND IS ALSO LOCATED IN ODESSA, TEXAS. 5557621 1 1 0 0 0 0 0 0 0 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 20 0 218 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 1 1 X TERRY MYERS CFO 5123296716 1114 LOST CREEK BLVD SUITE 400 AUSTIN TX 78746 D KEITH PERRY 40.00 X X 0 347083 48173 JEFFREY A SMITH 2.00 X 0 0 0 RICK RHODES 2.00 X 0 0 0 VANCE B GODDARD 2.00 X 0 0 0 STEVE EXTER 2.00 X 0 0 0 MIKE SIMS 40.00 X X 0 171774 8324 JAN THOMPSON 40.00 X X 0 247698 12360 TIM JOHNSON 40.00 X X 0 189488 9135 TERRY MYERS 40.00 X X 0 189392 9462 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 T PITTMAN CONSTRUCTION CO 1048 N AVENUE G ODESSA TX 79763 CONTRACTOR RENOVATIONS 223376 BEN E KEITH PO BOX 1588 AMARILLO TX 79105 FOOD SERVICE 183934 EVANS PHARMACY PO BOX 4474 ODESSA TX 79760 PHARMACY SERVICE 129025 MEDLINE INDUSTRIES DEPT 1080 PO BOX 121080 DALLAS TX 75312 MEDICAL SUPPLIES 111490 4 125255 10999 136254 RESIDENT CHARGES 623000 6797859 6797859 OTHER REVENUE 623000 4359 4359 6802218 480 480 6938952 6802218 0 480 2962778 2693972 268806 292915 266647 26268 218561 199348 19213 366000 366000 13420 13420 10116 10116 182925 182049 876 54481 54481 57241 57241 393955 381675 12280 67279 32519 34760 2696 2188 508 1729 1693 36 509546 495403 14143 122823 119762 3061 ANCILLARY EXPENSE 467266 467266 FOOD 332837 332837 SUPPLIES 274765 267271 7494 EQUIPMENT RENTAL AND MA 102476 100186 2290 BAD DEBT EXPENSE 57076 57076 17368 14805 2563 6508253 5557621 950632 0 266 266 266972 53676 874823 647477 14158 11693 12045 8263 17642143 6198878 11379846 11443265 1019026 1465719 223112 261780 13790248 13892139 393015 429572 2659430 3079595 2744556 2682153 5797001 6191320 X 6050647 5758219 1942600 1942600 7993247 7700819 13790248 13892139 X 430699 -723127 X X 0 1 1 X 1 1 X 175 1460 600 15525 136254 154014 8579146 8337029 6935548 7036463 6802211 37690397 8579321 8338489 6936148 7051988 6938465 37844411 0 0 0 37844411 22196 19007 7506 205 480 49394 22196 19007 7506 205 480 49394 8601517 8357496 6943654 7052193 6938945 37893805 0.99870 0.99830 0.00130 0.00170 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 668926 668926 16014064 5494076 10519988 959153 704802 254351 11443265 INVESTMENT IN SEARS METHODIST FOUNDATION 1465719 F 1465719 DUE TO OTHER CAMPUSES 345007 RESIDENT SECURITY DEPOSITS 31786 OTHER CURRENT LIABILITIES 23989 BANK OVERDRAFT 2281371 2682153 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. 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 MIKE SIMS 0 166477 0 101 0 5196 0 8324 0 0 0 180098 0 0 JAN THOMPSON 0 247200 0 101 0 397 0 12360 0 0 0 260058 0 0 TIM JOHNSON 0 56731 0 0 0 132757 0 9135 0 0 0 198623 0 0 TERRY MYERS 0 189231 0 101 0 60 0 9462 0 0 0 198854 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: INTERCOMPANY FUND TRANSFERS -7,740. DEBT SERVICE PAYMENTS -1,162,080. CHANGE IN SMF INVESTMENT 446,693. TOTAL TO FORM 990, PART XI, LINE 5: -723,127. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART XII, LINE 3A & 3B: DESERT HAVEN IS REQUIRED TO UNDERGO AN AUDIT AS SET FORTH IN THE OMB CIRCULAR A-133. DESERT HAVEN HAS COMPLIED WITH THIS REQUIREMENT AND UNDERGONE THE REQUIRED AUDIT. 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 PANHANDLE RETIREMENT CORP ONE VILLAGE DRIVE SUITE 400 ABILENE TX 79606 752503233 SENIOR LIVING TX 501(C)(3) 509(A)(2) 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 CORPORATION ONE VILLAGE DRIVE SUITE 400 ABILENE TX 79606 752768233 SENIOR LIVING TX 501(C)(3) 509(A)(2) N/A 0 SEARS BRAZOS RETIREMENT CORPORATION 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 CORPORATION 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 SENIOR DIMENSIONS INC ONE VILLAGE DRIVE SUITE 400 ABILENE TX 79606 752814016 CONSULTING 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 366000