2011-10-28T10:01:24-05:00 2011-06-30 MOORE STEPHENS LOVELACE PA 311 PARK PLACE BLVD SUITE 100 CLEARWATER FL 33759 990 2010-07-01 590624420 PENNEY RETIREMENT COMMUNITY INC PENN 9042848200 P O BOX 555 PENNEY FARMS FL 320790555 ROBERT RIGEL 9042848200 2011-10-28 1 HARRY E HARP CPA 7275314477 2010 2016-03-07 17:11:31Z ROBERT RIGEL P O BOX 555 PENNEY FARMS FL 320790555 10802235 0 X WWW.PENNEYRETIREMENTCOMMUNITY.ORG X 1965 FL PENNEY RETIREMENT COMMUNITY SERVES SENIORS WHO DESIRE TO LIVE THE FINAL THIRD OF THEIR LIVES IN A CHRISTIAN ENVIRONMENT. PROGRAMS AND SERVICES, INCLUDING HEALTH CARE, ARE PROVIDED TO ENHANCE DAILY LIVING AND DIMINISH FEARS OF THE FUTURE. 17 17 232 300 0 0 489071 1128027 8846845 9197976 63809 191480 24706 35011 9424431 10552494 0 0 0 0 4888465 5109333 0 0 0 4328719 4849732 9217184 9959065 207247 593429 33257794 34747875 23919806 23989947 9337988 10757928 X PENNEY RETIREMENT COMMUNITY SERVES SENIORS WHO DESIRE TO LIVE THE FINAL THIRD OF THEIR LIVES IN A CHRISTIAN ENVIRONMENT. PROGRAMS AND SERVICES, INCLUDING HEALTH CARE, ARE PROVIDED TO ENHANCE DAILY LIVING AND DIMINISH FEARS OF THE FUTURE. 0 0 8841983 9232987 THE ORGANIZATION PROVIDES HOUSING, HEALTH CARE AND OTHER RELATED SERVICES THROUGH THE OPERATION OF A RETIREMENT COMMUNITY. THE COMMUNITY INCLUDES 289 APARTMENTS AND HOMES, A 20-BED ALZHEIMER'S HEALTHCARE CENTER, 55 INDEPENDENT LIVING UNITS OFFERING ASSISTIVE SERVICES AND A LICENSED SKILLED NURSING CENTER WITH A CAPACITY OF 40 RESIDENTS. THE COMMUNITY ALSO INCLUDES RECREATIONAL AMENITIES, INCLUDING A NINE-HOLE GOLF COURSE, INDOOR SWIMMING POOL, FITNESS CENTER, ART STUDIO, CRAFT FACILITIES, LIBRARIES AND DINING FACILITIES. 8841983 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 92 0 1 232 1 0 0 0 0 0 0 0 0 0 0 X 17 17 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X ROBERT RIGEL 9042848200 PO BOX 555 PENNEY FARMS FL 32079 DAVID L ALLEN 2.00 X 0 0 0 NORMAN S BEYER 2.00 X X 0 0 0 BURNEY BIVENS ESQ 2.00 X 0 0 0 JAMES A CHESTER 2.00 X X 0 0 0 MARY W HUNTLEY 2.00 X 0 0 0 MICHAEL T HAMMOCK 2.00 X X 0 0 0 FRANCES L IRVINE 2.00 X X 0 0 0 WALTER I JACOBY 2.00 X X 0 0 0 EDWIN RUSSELL MEGONEGAL 2.00 X 0 0 0 JOHN C MYERS III 2.00 X 0 0 0 DR WILLIAM L PROCTOR 2.00 X 0 0 0 VIOLA M ANDERSON 2.00 X 0 0 0 THOMAS K GORDON 2.00 X 0 0 0 DAVID A MCINNES 2.00 X 0 0 0 CATHERINE G PARROTT 2.00 X 0 0 0 LYNN A AUBEL 2.00 X 0 0 0 WARREN W STEVENSON 2.00 X 0 0 0 ROBERT R RIGEL 40.00 X 136155 0 20393 WILLIAM D FISH 40.00 X 82493 0 11282 218648 0 31675 1 0 1 0 CHANEY'S HOME IMPROVEMENT 116 N ORANGE AVE GREEN COVE SPRINGS FL 32043 CONSTRUCTION/RENOVATION 107950 1 1128027 1128027 HOUSING 623000 4174106 4174106 NURSING 623000 4039729 4039729 RESIDENTS SERVICE 623000 508794 508794 FOOD SERVICE 623000 475347 475347 9197976 160365 160365 280856 249741 31115 31115 31115 TRANSPORTATION 623000 33450 33450 OTHER INCOME 623000 1561 1561 35011 10552494 9232987 0 191480 259464 259464 3828859 3531529 297330 155450 155450 531438 498925 32513 334122 297348 36774 81535 3193 78342 9620 9620 1135519 1006859 128660 28859 4185 24674 427619 427619 1619461 1526568 92893 208001 195321 12680 FOOD 420912 420359 553 EQUIPMENT RENTAL & MAIN 264453 255668 8785 SUPPLIES 242313 242313 MISCELLANEOUS 119214 119214 PHARMACY 105875 105875 186351 170771 15580 9959065 8841983 1117082 0 139474 292816 38700 5300 314039 539317 96873 97990 2908 42144587 17843742 24363632 24300845 8196719 9423981 105449 87626 33257794 34747875 844087 752920 15381569 15638266 4725000 4550000 2969150 3048761 23919806 23989947 X 7521340 8897220 853020 749027 963628 1111681 9337988 10757928 33257794 34747875 X 593429 826511 X X 0 1 1 X 0 X 359406 424222 354558 489071 859702 2486959 7575246 8084192 8393284 8846845 9197976 42097543 7934652 8508414 8747842 9335916 10057678 44584502 0 503281 804925 334081 366245 229881 2238413 503281 804925 334081 366245 229881 2238413 42346089 335400 281970 67227 63809 188654 937060 335400 281970 67227 63809 188654 937060 26558 25462 28469 24706 35011 140206 8296610 8815846 8843538 9424431 10281343 45661768 0.92740 0.91870 0.02050 0.02240 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 963628 148053 1111681 864947 98681 963628 1047159 -182212 864947 1.00000 0 0 1855337 1855337 36152533 14765295 21387238 3869297 3078447 790850 267420 267420 24300845 BOND FUNDS 48183 F DEBT SERVICE RESERVES 484173 F CAPITAL PROJECTS 122600 F CAPITAL MAINTENANCE 500000 F OPERATING RESERVE 2187715 F ENDOWMENTS 1111681 F CHARITABLE ANNUITY 823100 F RESIDENT DEPOSITS 336804 F OTHER INVESTMENTS 3788225 F 7DAY - PRINCIPAL CASH 21500 F 9423981 DEPOSITS 269800 GIFT BONDS AND ACCRUED INTEREST 2084546 REFUNDABLE ENTRANCE FEES 264532 ANNUITY OBLIGATIONS 429883 3048761 10552494 9959065 593429 406909 -180292 226617 820046 10256977 406909 406909 9850068 702426 702426 10552494 9436932 0 9436932 522133 522133 9959065 PART XI, LINE 8 - OTHER ADJUSTMENTS: NET INCOME - RESIDENTS AID FUND OF PRC, LLC -146,172. NET INCOME - ASSOC OF PRC RESIDENTS, LLC -34,120. PART XII, LINE 4B - OTHER ADJUSTMENTS: RESIDENTS AID FUND OF PRC, LLC - TOTAL REVENUE 466,513. ASSOCIATION OF PRC RESIDENTS, LLC - TOTAL REVENUE 235,913. PART XIII, LINE 4B - OTHER ADJUSTMENTS: RESIDENTS AID FUND OF PRC, LLC - TOTAL EXPENSES 320,342. ASSOCIATION OF PRC RESIDENTS, LLC - TOTAL EXPENSES 201,791. X X X 0 0 0 0 0 0 0 0 0 ROBERT R RIGEL 136155 0 0 0 0 0 0 0 20393 0 156548 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 PER PRC POLICY, THE BOARD CHAIRMAN WILL REVIEW THE ENTIRE FORM 990 WITH ALL BOARD MEMBERS BEFORE IT IS FILED WITH THE IRS. THE CHAIRMAN WILL CONFIRM IN WRITING THAT THE 990 WAS REVIEWED. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ARE REQUIRED TO AFFIRM ANNUALLY IN WRITING THAT THEY ARE NOT AWARE OF ANY CONFLICTS OF INTEREST WITHIN THE ORGANIZATION. EMPLOYEES SIGN THAT THEY HAVE READ THE POLICY UPON HIRE. THE POLICY IS REVIEWED PERIODICALLY. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION'S COMPENSATION POLICY REQUIRES THE PRESIDENT'S COMPENSATION BE DETERMINED BY THE DIRECTORS USING COMPARABILITY DATA GATHERED FROM OTHER RETIREMENT COMMUNITIES. ALL DIRECTORS ARE INDEPENDENT WITH REGARD TO THE COMPENSATION AND THE DELIBERATION AND DECISION ARE DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 18 THE FORM 990 IS AVAILABLE AT THE CORPORATE OFFICE UPON REQUEST, AS WELL AS ONLINE AT WWW.GUIDESTAR.ORG. THE FORM 1023 IS NOT AVAILABLE, BUT THE DETERMINATION LETTER IS AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE AT THE CORPORATE OFFICE UPON REQUEST, AS WELL AS ONLINE AT WWW.GUIDESTAR.ORG. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 406,909. TRANSFER IN - NET ASSETS OF RESIDENTS AID FUND OF PRC, LLC 247,888. TRANSFER IN - NET ASSETS OF ASSOC OF PRC RESIDENTS, LLC 171,714. TOTAL TO FORM 990, PART XI, LINE 5: 826,511. FORM 990, PART XII, LINE 2C THE ORGANIZATION'S AUDIT COMMITTEE IS RESPONSIBLE FOR THE SELECTION, MONITORING AND EVALUATION OF AN INDEPENDENT AUDIT FIRM AND OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS. THERE WAS NO CHANGE IN THIS PROCESS FROM THE PRIOR YEAR. ASSOCIATION OF PENNEY RETIREMENT COMMUNITY RESIDENTS LLC PO BOX 555 PENNEY FARMS FL 32079 273142533 SUPPORT THE RESIDENTS OF PENNEY RETIREMENT COMMUNITY FL 235913 205835 PENNEY RETIREMENT COMMUNITY RESIDENTS' AID FUND OF PENNEY RETIREMENT COMMUNITY LLC PO BOX 555 PENNEY FARMS FL 32079 SUPPORT THE RESIDENTS OF PENNEY RETIREMENT COMMUNITY FL 466513 394059 PENNEY RETIREMENT COMMUNITY