2011-11-10T11:51:26-06:00 2010-12-31 DIXON HUGHES GOODMAN LLP 500 RIDGEFIELD COURT ASHEVILLE NC 28806 990 2010-01-01 561152263 ARBOR ACRES UNITED METHODIST RETIREMENT COMMUNITY INC ARBO 3367247921 1240 ARBOR ROAD WINSTONSALEM NC 271041197 KENNETH BOYLES 3367247921 2011-11-07 1 AMY BIBBY 8282542254 2010 2016-03-07 17:11:31Z KENNETH BOYLES 1240 ARBOR ROAD WINSTONSALEM NC 271041197 25547193 0 X WWW.ARBORACRES.ORG X 1975 NC TO SERVE SENIOR ADULTS WHILE PROVIDING SECURITY, CONTENTMENT, AND LIFE WITH MEANING & PURPOSE. 31 31 393 126 0 0 2229624 2324101 18199800 18563259 613679 683957 155171 111726 21198274 21683043 0 0 0 0 10135119 10922571 0 0 213303 8382419 8512378 18517538 19434949 2680736 2248094 70149282 88279391 39156154 52998114 30993128 35281277 X ARBOR ACRES, AN AFFILIATE MINISTRY OF THE UNITED METHODIST CHURCH, SERVES SENIOR ADULTS THROUGH FACILITIES AND PROGRAMS THAT ENHANCE OPPORTUNITY FOR SECURITY, CONTENTMENT AND LIFE WITH MEANING AND PURPOSE. 0 0 16729296 18563259 ARBOR ACRES, A CONTINUING CARE RETIREMENT COMMUNITY (CCRC), PROVIDING A CONTINUUM OF INDEPENDENT LIVING FACILITIES WHICH INCLUDE THREE MID-RISE RESIDENTIAL WINGS CONTAINING 66 UNITS (STUDIO, EFFICIENCY AND CONNECTING ROOM SUITES); 3 ONE-BEDROOM AND 3 TWO-BEDROOM COURTYARD APARTMENTS; 6 ONE-BEDROOM AND 6 TWO-BEDROOM CLUSTER HOMES AND 106 HOUSES. IN ADDITION TO THE INDEPENDENT LIVING FACILITIES, ARBOR ACRES ALSO HAS 84 ADULT CARE HOME BEDS (34 LOCATED IN A MIDRISE BUILDING AND 50 LOCATED IN THE FITZGERALD HEALTH CENTER) AND 53 NURSING CARE BEDS (LOCATED IN THE FITZGERALD HEALTH CENTER). AS OF DECEMBER 31, 2010 ARBOR ACRES SERVED 403 RESIDENTS IN THE ABOVE UNITS. IN ORDER TO ACCOMPLISH OUR MISSION, ARBOR ACRES IS STRUCTURED AS A CONTINUING CARE RETIREMENT COMMUNITY (CCRC), PROVIDING A CONTINUUM OF INDEPENDENT LIVING FACILITIES WHICH INCLUDE THREE MID-RISE RESIDENTIAL WINGS CONTAINING 67 UNITES (STUDIO, EFFICIENCY AND CONNECTING ROOM SUITES), 3 ONE-BEDROOM AND 3 TWO-BEDROOM COURTYARD APARTMENTS, 4 ONE-BEDROOM AND 4 TWO-BEDROOM CLUSTER HOMES AND 106 HOUSES. IN ADDITION TO THE INDEPENDENT LIVING FACILITIES, ARBOR ACRES ALSO HAS 84 ADULT CARE HOME BEDS (34 LOCATED IN A MID-RISE BUILDING AND 50 LOCATED IN THE FITZGERALD HEALTH CENTER) AND 53 NURSING CARE BEDS (LOCATED IN THE FITZGERALD HEALTH CENTER). AS OF DECEMBER 31, 2010 ARBOR ACRES SERVED 403 RESIDENTS IN THE ABOVE UNITS. ARBOR ACRES HOLDS MEMBERSHIPS WITH LEADINGAGE (FORMERLY AMERICAN ASSOCIATION OF HOMES AND SERVICES FOR THE AGING) AND LEADINGAGE NC (FORMERLY THE NORTH CAROLINA ASSOCIATION OF NON-PROFIT HOMES FOR THE AGING). THE FACILITY IS ACCREDITED THROUGH THE CONTINUING CARE ACCREDITATION COMMISSION. AN IMPORTANT COMPONENT OF FULFILLING ARBOR ACRES MISSION IS THE PROVISION OF FINANCIAL ASSISTANCE SUPPORT TO ENABLE RESIDENTS TO RESIDE AT ARBOR ACRES WHO WOULD OTHERWISE BE UNABLE TO AFFORD TO DO SO. FOR THE YEAR ENDING DECEMBER 31, 2010, $1,280,014 OF FINANCIAL ASSISTANCE WAS PROVIDED TO 38 RESIDENTS TO HELP THEM MAINTAIN RESIDENCY AT THE FACILITY.DURING 2010, THE FOLLOWING SPECIFIC ACCOMPLISHMENTS ENHANCED THE ABILITY TO SERVE RESIDENTS: 1. MAINTAINED NEAR FULL OCCUPANCY OF ASSISTED LIVING, MEMORY CARE AND SKILLED NURSING LEVELS OF LICENSED CARE AND EXCEEDED 90% OOCUPANCY OF INDEPENDENT LIVING UNITS. 2. SPONSORED AND FACILITATED PARTICIPATION OF RESIDENT EFFORTS IN COMMUNITY SERVICE PROJECTS TO INCLUDE SENIOR SERVICE'S MEALS ON WHEELS PROGRAM, RONALD MCDONALD HOUSE LUMINARIES, TUTORING STUDENTS AT COOK ELEMENTARY SCHOOL, BACK TO SCHOOL SUPPLIES PROGRAM FOR COOK ELEMENTARY, SOLES FOR SOULS SHOE DRIVE, ETC. 3. IN ADDITION TO FINANCIAL ASSISTANCE MENTIONED ABOVE, PROVIDED $60,219 OF OTHER SPECIFIC COMMUNITY BENEFIT. THIS DOES NOT COUNT VOLUNTEER SERVICE HOURS OF RESIDENTS AND STAFF TO SUPPORT NUMEROUS COMMUNITY SERVICE ORGANIZATIONS. 16729296 1 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 13 0 1 393 1 0 0 0 0 0 0 0 0 0 1 0 X 31 31 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X KENNETH BOYLES CFO 3367247921 1240 ARBOR ROAD WINSTONSALEM NC 27104 LINDA G DAVIS 1.00 X X 0 0 0 WILLIAM F WOMBLE JR 1.00 X X 0 0 0 LISA P PURCELL 1.00 X X 0 0 0 WILLIAM L BALL JR 1.00 X 0 0 0 DON EPPERT 1.00 X 0 0 0 RICHARD V BENNETT 1.00 X 0 0 0 VICTORIA HUNT 1.00 X 0 0 0 JAMES CORRIGAN 1.00 X 0 0 0 DR JAMES FERREE 1.00 X 0 0 0 JUDY M BRIGGS 1.00 X 0 0 0 AL BEATY 1.00 X 0 0 0 DR HENRY MILLER 1.00 X 0 0 0 DAVID B BLANCO 1.00 X 0 0 0 BRENDA ROBERTSON 1.00 X 0 0 0 DR KEN CARLSON 1.00 X 0 0 0 ROBERT S CHILES SR 1.00 X 0 0 0 GREGORY B HUNTER 1.00 X 0 0 0 RALPH HOLTHOUSER 1.00 X 0 0 0 NICK DAVES 1.00 X 0 0 0 BISHOP LARRY GOODPASTOR 1.00 X 0 0 0 REV DR SAMUEL MOORE JR 1.00 X 0 0 0 RICHARD STOCKTON 1.00 X 0 0 0 DR FRANK A ISON 1.00 X 0 0 0 REV DR N FRED JORDAN JR 1.00 X 0 0 0 REV SYLVIA D WILHELM 1.00 X 0 0 0 REV DR WILLIAM T MEDLIN III 1.00 X 0 0 0 SUSAN S SCHWARTZ 1.00 X 0 0 0 DR C M WORTHY JR 1.00 X 0 0 0 DUANE DAVIS 1.00 X 0 0 0 TIMOTHY DAVIS 1.00 X 0 0 0 ANITA OGBURN 1.00 X 0 0 0 MARY PRESTON YATES 1.00 X 0 0 0 W DAVID PINER 40.00 X 204298 0 26732 KENNETH W BOYLES 40.00 X 140542 0 17967 LURANA M DAY 40.00 X 137687 0 12836 KATRINA BODFORD 40.00 X 45965 0 8647 528492 0 66182 3 0 1 0 WEST END CONSTRUCTION 461 WEST END BOULEVARD WINSTON SALEM NC 27101 CONSTRUCTION SERVICES 682969 BW HAWKINS BUILDERS 3614 N LAKESHORE DRIVE CLEMMONS NC 27012 CONSTRUCTION SERVICES 564157 REESE LOWER PATRICK SCOTT 1910 HARRINGTON DRIVE LANCASTER PA 17601 ARCHITECT 289248 RW COLLINS CONSTRUCTION 3811 SANDALWOOD LANE WINSTON SALEM NC 27106 CONSTRUCTION SERVICES 145103 S & L PAINTING & DECORATING 1011 NORTHWEST BLVD WINSTON SALEM NC 27101 PAINTING SERVICES 126872 5 2324101 2324101 RESIDENT FEES 623000 15579744 15579744 DEFERRED ENTRANCE FEES 623000 2972505 2972505 APPLICATION FEES 623000 11010 11010 18563259 616264 616264 3904083 3836390 67693 67693 67693 32903 27760 5143 5143 MISCELLANEOUS REVENUE 900099 47408 47408 FOOD SERVICE REVENUE 900099 38144 38144 GUEST ROOM RENTAL 900099 21031 21031 106583 21683043 18563259 0 795683 540500 138970 401530 8106939 7064885 912513 129541 304183 254195 45351 4637 1970949 1663571 276739 30639 66782 66782 45498 45498 207071 169701 22572 14798 146901 146901 1621086 1142456 445342 33288 1378000 1378000 63330 51767 11163 400 831318 831318 2764584 2764584 264860 264860 FOOD COST 1110952 1110952 MISCELLANEOUS 11996 11996 19434949 16729296 2492350 213303 2591909 2109888 242959 610068 240138 255390 14245 130175 93336839 37053365 41887023 56283474 24882989 28020892 290019 869504 70149282 88279391 1698494 3163087 18569044 20327664 18818616 29442363 70000 65000 39156154 52998114 X 24229905 28208004 1638245 1308452 5124978 5764821 30993128 35281277 70149282 88279391 X 2248094 2040055 X 0 1 1 X 0 X 947731 1116042 1257047 2229624 2324101 7874545 947731 1116042 1257047 2229624 2324101 7874545 1344421 6530124 1179779 1308366 1163706 664025 683958 4999834 12874379 86036096 0.50720 0.41860 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 9224309 121319 1772061 402922 10714767 8122665 202578 1280396 381330 9224309 10001298 -1878633 8122665 0.46200 0.53800 0 0 2000 1921139 1923139 63759404 29191958 34567446 5977979 4292996 1684983 21676317 3568411 18107906 56283474 REFUNDABLE DEPOSITS 65000 65000 21683043 19434949 2248094 2040055 2040055 4288149 23750858 2040055 2040055 21710803 -27760 -27760 21683043 19462709 27760 27760 19434949 0 19434949 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: ARBOR ACRES CURRENTLY MAINTAINS A FINANCIAL ASSISTANCE PROGRAM AND POLICY FOR RESIDENTS HOLDING CONTINUING CARE RESIDENCY AGREEMENTS IN THE EVENT THE RESIDENT(S) SHOULD BECOME UNABLE TO PAY FOR SERVICES. THERE IS A BOARD DESIGNATED ASSISTANCE ENDOWMENT OF $4,949,946 AND A PERMANENT ASSISTANCE ENDOWMENT OF $5,264,821. THERE IS A SWIMMING POOL ENDOWMENT OF $500,000. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: ARBOR ACRES IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE; ACCORDINGLY, THE ACCOMPANYING FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION OR LIABILITY FOR FEDERAL AND STATE INCOME TAXES. ARBOR ACRES HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF DECEMBER 31, 2010. FISCAL YEARS ENDING ON OR AFTER DECEMBER 31, 2007 REMAIN SUBJECT TO EXAMINATION BY FEDERAL AND STATE TAX AUTHORITIES. PART XII, LINE 4B - OTHER ADJUSTMENTS: GAIN ON DISPOSAL OF PROPERTY COST OF GOODS SOLD -27,760. PART XIII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 27,760. GAIN ON DISPOSAL OF PROPERTY X X X X 0 0 0 0 0 0 0 0 0 W DAVID PINER 204298 0 0 0 0 0 12258 0 14474 0 231030 0 0 0 KENNETH W BOYLES 140542 0 0 0 0 0 8433 0 9534 0 158509 0 0 0 LURANA M DAY 137687 0 0 0 0 0 8261 0 4575 0 150523 0 0 0 NORTH CAROLINA MEDICAL CARE COMMISSION 521309402 6579026M9 2007-03-21 17845817 REFUND SERIES 2002 ISSUE 0 0 0 NORTH CAROLINA MEDICAL CARE COMMISSION 521309402 2010-06-10 28875000 CAPITAL EXPENDITURES 0 0 0 285000 17845817 2835570 312927 17204023 2004 0 1 1 1 28875000 46803 489525 10355856 1580047 16402769 2012 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 1 0 1 0 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 AN INITIAL REVIEW OF THE FORM 990 WAS PERFORMED BY THE FINANCE COMITTEE. A COPY OF THE FORM 990 WAS THEN PROVIDED TO EACH VOTING MEMBER OF THE ENTIRE BOARD OF DIRECTORS BEFORE FILING WITH THE IRS. THE FORM 990 WAS APPROVED BY ALL VOTING MEMBERS AS PRESENTED. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR, ALL BOARD MEMBERS ARE REQUIRED TO SIGN A CERTIFICATION THAT THEY HAVE READ AND UNDERSTAND OUR POLICY. THEY ARE ALSO REQUIRED TO DISCLOSE ANY POTENTIAL CONFLICTS OR RELATIONSHIPS. THESE CERTIFICATIONS ARE KEPT ON FILE AND ARE REVIEWED ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF ALL OFFICERS, SENIOR MANAGERS, AND HIGHEST PAID EMPLOYEES IS ANNUALLY REVIEWED AND APPROVED BY AN INDEPENDANT COMPENSATION COMMITTEE OF CONSISTING OF THE BOARD CHAIR, CHAIR OF HUMAN RESOURCES, AND CHAIR OF THE FINANCE COMMITTEE. THE HUMAN RESOURCES ACCUMULATES COMPARATIVE DATA FROM 990'S OF COMPRABLE ORGANIZATIONS, AAHSA, AND OTHER WAGE SURVEYS TO COMPARE TO CURRENT COMPENSATION FOR REASONABLENESS. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION'S FORM 990 IS MADE AVAILABLE TO THE PUBLIC ON WWW.GUIDESTAR.ORG. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE UPON REQUEST. ANNUAL AUDITED FINANCIAL STATEMENTS ARE POSTED ON ELECTRONIC MUNICIPAL MARKET ACCESS ON THE MSRB WEBSITE. THOSE DOCUMENTS ARE ALSO A PART OF THE ANNUAL DISCLOSURE STATEMENT MADE AVAILABLE THROUGH THE NC DEPARTMENT OF INSURANCE WEBSITE. THE ANNUAL AUDIT IS DISTRIBUTED TO RESIDENT COUNCIL AND MADE AVAILABLE TO ANY RESIDENT UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 2,040,055.