2011-11-09T18:00:06-06:00 2011-06-30 CROWE HORWATH LLP 70 West Madison Street Suite 700 Chicago IL 606024903 990 2010-07-01 362167948 WASHINGTON AND JANE SMITH COMMUNITY - BEVERLY WASH 7734747300 2320 West 113th Place Chicago IL 60643 RAY MARNERIS 2011-11-09 true 3128997000 2010 2016-03-07 17:11:31Z SMITH VILLAGE MICHAEL A FLYNN 2320 West 113th Place Chicago IL 60643 18632054 false X WWW.SMITHVILLAGE.ORG X 1926 IL THE MISSION OF SMITH VILLAGE IS TO ENRICH THE LIVES OF SENIOR ADULTS THROUGH THE HIGHEST QUALITY OF SERVICES. 8 8 326 88 0 0 587517 711632 14195972 17566248 143951 174050 117252 127181 15044692 18579111 0 505625 0 0 5929349 6117933 0 0 0 11731000 12677433 17660349 19300991 -2615657 -721880 71807907 71848674 69806591 70563513 2001316 1285161 X SMITH VILLAGE WAS INCORPORATED FOR THE CHARITABLE PURPOSE OF PROVIDING INDEPENDENT LIVING, ASSISTED LIVING, AND NURSING CARE SERVICES TO MEN AND WOMEN THROUGH THE OPERATION OF A CONTINUING CARE RETIREMENT COMMUNITY, LOCATED IN BEVERLY, ILLINOIS. false 6886933 9810911 THE ORGANIZATION PROVIDES RETIREMENT HOUSING AND HEALTH CARE SERVICES TO SENIORS AGED 62 AND OLDER IN A CONTINUING CARE RETIREMENT COMMUNITY SETTING. WITHIN THE COMMUNITY, SMITH VILLAGE OPERATES A 103 BED SKILLED NURSING CARE UNIT. SERVICES PROVIDED INCLUDE 24-HOUR NURSING CARE AND REHABILITATION SERVICES. SMITH VILLAGE IS LICENSED FOR AND ACCEPTS BOTH MEDICARE AND MEDICAID AS SUPPLEMENTAL PAYMENT SOURCES. 6747245 2976973 THE ORGANIZATION PROVIDES RETIREMENT HOUSING AND HEALTH CARE SERVICES TO SENIORS AGED 62 AND OLDER IN A CONTINUING CARE RETIREMENT COMMUNITY SETTING. WITHIN THE COMMUNITY, SMITH VILLAGE OPERATES 152 INDEPENDENT LIVING APARTMENTS. SMITH VILLAGE BEGAN OPERATION OF THESE UNITS IN NOVEMBER 2007. NOT ALL UNITS WERE OCCUPIED AS OF THE END OF THE FYE 2011. RESIDENTS RECEIVE DISCOUNTED SERVICES IN HEALTHCARE SHOULD THEY REQUIRE TRANSITION TO ASSISTED LIVING OR INTO SKILLED CARE. RESIDENTS WHO OUTLIVE THEIR FINANCIAL RESOURCES CAN APPLY FOR SUPPORT THROUGH THE CHARITABLE CARE FUNDS OF SMITH VILLAGE. DURING THE FYE 2011 REPORTING PERIOD, $156,589 OF DISCOUNTED SERVICES WAS PROVIDED TO RESIDENTS. 3327647 505625 3971185 THE ORGANIZATION PROVIDES RETIREMENT HOUSING AND HEALTH CARE SERVICES TO SENIORS AGED 62 AND OLDER IN A CONTINUING CARE RETIREMENT COMMUNITY SETTING. WITHIN THE COMMUNITY, SMITH VILLAGE OPERATES AN 82 UNIT ASSISTED LIVING CENTER. SERVICES INCLUDE PROVISION OF ASSISTANCE TO INDIVIDUALS WHO CAN NO LONGER LIVE INDEPENDENTLY AND NEED ASSISTANCE WITH AT LEAST THREE ACTIVITIES OF DAILY LIVING SUCH AS EATING, BATHING, DRESSING, MEDICATIONS, ETC. INDIVIDUALS RESIDING IN ASSISTED LIVING WHO HAVE OUTLIVED THEIR FINANCIAL RESOURCES ARE FURTHER SUPPORTED BY THE CHARITABLE CARE FUNDS OF SMITH VILLAGE. DURING FYE 2011, $505,625 IN CHARITABLE SERVICES WERE PROVIDED TO RESIDENTS IN ASSISTED LIVING. 397309 885680 4D. THE ORGANIZATION ASSESSES AN ENTRANCE FEE UPON MOVING INTO AN INDEPENDENT LIVING UNIT. THIS ENTRANCE FEE SECURES THE RESIDENT'S RIGHT TO RECEIVE DISCOUNTED SERVICES IN HEALTHCARE SHOULD THEY REQUIRE TRANSITION TO ASSISTED LIVING OR SKILLED CARE. UPON LEAVING THE CCRC, RESIDENTS RECEIVE EITHER A 90% OR 95% REFUND OF THE ORIGINAL ENTRANCE FEE. THE NON-REFUNDABLE PORTION OF THE ENTRANCE FEE IS RETAINED BY THE COMPANY AND AMORTIZED INTO INCOME OVER THE ESTIMATED LIFE CYCLE OF INDIVIDUALS IN INDEPENDENT LIVING. 4E. THE ORGANIZATION OWNS AND OPERATES A 17 UNIT APARTMENT BUILDING RESTRICTED TO SENIOR ADULTS. THESE UNITS PROVIDE AFFORDABLE HOUSING ALTERNATIVES WITHOUT ANY OF THE SERVICES PROVIDED WITHIN THE SCOPE OF THE CONTINUING CARE RETIREMENT COMMUNITY. 4F. THE ORGANIZATION PROVIDES BASE PACKAGES OF SERVICES TO RESIDENTS WITHIN A SET MONTHLY OR DAILY FEE STRUCTURE. RESIDENTS CAN CHOOSE TO SECURE ADDED SERVICES FOR ADDITIONAL FEES IN AREAS SUCH AS BEAUTY AND BARBER SERVICES, ADDITIONAL DINING OPTIONS, UNDERGROUND PARKING, TECHNOLOGY SERVICES, AND SPECIAL EVENT PARTICIPATION. 397309 885680 17359134 true true false true false false false true true true true false true true true true false false false false false false false false false false false true true true true false false false false false false false false false false false false false false true false false false false true 16 0 true 326 true false false false false false false false false false false X 8 8 true true false false true true true true true false false true true true true true true true false false IL X Ray Marneris 7734747350 2320 WEST 113TH PLACE Chicago IL 60643 X KARYN PETTIGREW 1 X 0 0 0 STEVEN MURPHY 1 X 0 0 0 WILLIAM HUNDING 2 X X 0 0 0 EUGENE DELVES 1 X X 0 0 0 THOMAS CHOMICZ 2 X 0 0 0 KEVIN MCGEE 40 X 115287 0 22728 CRAIG HANENBURG 2 X 0 110591 12999 DEBORAH E HART 2 X 0 133792 27848 MICHAEL A FLYNN 2 X 0 181853 28422 MICHAEL T LEATHERMAN 2 X X 0 0 0 GEORGE E PETRAITIS 1 X X 0 0 0 ALLEN FLAGLER 1 X 0 0 0 RICHARD MARNERIS 1 X 0 0 0 RAYMOND J MARNERIS 2 X 0 0 0 EDUARDO TORRES 40 X 112191 0 5296 227478 426236 97293 2 false true false MORRISON DINING PO BOX 102289 ATLANTA GA 30268 DINING SVC MGMT & SUPPLIES 1871112 ALLIANCE REHAB 1520 KENSINGTON RD OAK BROOK IL 60523 CONTRACT REHAB SVC 824813 WASHINGTON & JANE SMITH HOME 2320 WEST 113TH PLACE CHICAGO IL 60643 MANAGEMENT SERVICES 661542 ALLIANCE PHARMACY SERVICES 1520 KENSINGTON ROAD SUITE 105 OAKBROOK IL 60523 CONTRACT PHARMACY SVC 332603 MEDLINE INDUSTRIES INC DEPT CH 14400 PALATINE IL 600554400 CONTRANCTUAL MEDICAL SUPPLIES 104525 5 463548 248084 711632 NURSING CARE SERVICES 7548621 7548621 ASSISTED LIVING SERVICES 3971185 3971185 INDEPENDENT LIVING SERVICES 2976973 2976973 ANCILLARY SERVICES 2262290 2262290 ENTRANCE FEES RECOGNIZED 510178 510178 297001 297001 0 0 17566248 11462 11462 162588 162588 0 180124 52943 127181 0 127181 78501 48680 0 0 0 0 0 0 0 0 0 0 0 18579111 17644749 0 222730 0 505625 505625 0 0 0 0 5098598 5098598 80845 80845 576282 576282 362208 362208 1603000 1603000 60223 59863 360 0 0 0 0 4367497 4305888 61609 186206 26276 159930 373708 306505 67203 41088 23111 17977 0 823088 823088 0 0 17754 12821 4933 2443498 2420074 23424 0 2572562 2572562 129031 125610 3421 FEES 59778 59778 0 0 0 0 19300991 17359134 1941857 0 0 700 500 2096613 1289607 771404 1073630 122354 73360 70842714 10824207 62038006 60018507 252381 268838 3009063 4477466 0 0 3517386 4646766 71807907 71848674 2126008 2251640 1657723 1613214 42086893 39569456 144091 162955 23791876 26966248 69806591 70563513 X 1940985 1219321 60331 65840 2001316 1285161 71807907 71848674 X -721880 5725 X false true true X false X 569543 840816 661412 587517 711632 3370920 8722444 10857229 12778937 14236810 17644749 64240169 0 0 0 9291987 11698045 13440349 14824327 18356381 67611089 411584 435576 413248 459114 506563 2226085 0 411584 435576 413248 459114 506563 2226085 65385004 396715 600523 192554 220365 222730 1632887 0 396715 600523 192554 220365 222730 1632887 0 33608 167573 64519 0 0 265700 9722310 12466141 13697422 15044692 18579111 69509676 0.94070 0.80183 0.02350 0.02810 X OTHER INCOME, SCHEDULE A, PART III, VARIOUS SMALL ITEMS: 2006 - $33,608 2007 - $167,573 2008 - $64,519 2009 - NONE 2010 - NONE , RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 false false false false false false false false true 7118 7118 false 0 Description of other lobbying activities Schedule C, Part II-B, Line 1i THE EXPENSES DETAILED ABOVE REPRESENT AN ALLOCATION OF MEMBERSHIP DUES TO LSN ASSOCIATION. false true 10274728 2092619 463548 11903799 9837732 0 870994 418398 0 15600 10274728 10661483 0 -418068 405683 0 0 9837732 0.00000 0.07000 0.93000 false true true 1674140 1674140 65918241 9315155 56603086 0 3250333 1509052 1741281 0 60018507 0 0 FIXED INCOME - GICS 4477466 F 4477466 BOND ISSUANCE COSTS, NET 962438 COST OF ACQUIRING INITIAL CONTINUING-CARE CONTRACTS, NET 2134397 DUE FROM AFFILIATES 1549931 4646766 0 REFUNDABLE ENTRANCE FEES 19785071 OTHER CURRENT LIABILITIES 15260 REFUNDABLE RESERVATION DEPOSITS 578442 NOTE PAYABLE TO AFFILIATE 6587475 26966248 18579111 19300991 -721880 5725 0 5725 -716155 18132154 5725 52943 58668 18073486 505625 505625 18579111 18848309 52943 52943 18795366 505625 505625 19300991 Explanation of escrow agreement Schedule D, Part IV, Line 2b RESIDENTS CAN ELECT TO USE THE ORGANIZATION FOR THE MANAGEMENT OF THEIR FUNDS THROUGH THE RESIDENT TRUST ACCOUNTS. THERE IS NO UPPER LIMIT ON AMOUNTS THAT CAN BE ACCEPTED. RESIDENTS AUTHORIZE THE ORGANIZATION TO UTILIZE THEIR FUNDS TO PAY FOR ITEMS AS NEEDED. ALL FUNDS ARE HELD SEPARATELY FROM CORPORATE FUNDS, BUT CO-MINGLED WITH OTHER RESIDENTS' FUNDS. INTEREST IS PAID ON A PASS-THROUGH BASIS FROM BANKING INSTITUTIONS. NO ADDITIONAL FEES ARE INCURRED FOR RESIDENTS TO UTILIZE THIS TRUST FUND ARRANGEMENT. Intended uses of endowment funds Schedule D, Part V, Line 4 THE ENDOWMENT FUND IS HELD BY WASHINGTON AND JANE SMITH HOME D/B/A SMITH SENIOR LIVING (SSL), A RELATED TAX-EXEMPT ORGANIZATION. SSL DISBURSES FUNDS AS NEEDED WITHIN THE GUIDELINES OF THE ENDOWMENT FUND. THE EARNINGS ON THE ASSETS IN THE ENDOWMENT FUND HAVE BEEN DESIGNATED TO SUPPORT THE OPERATING ACTIVITIES OF SMITH VILLAGE. FIN 48 (ASC 740) footnote Schedule D, Part X, Line 2 THE ORGANIZATION HAS ADOPTED U.S. GAAP WITH RESPECT TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. A TAX POSITION IS RECOGNIZED AS A BENEFIT ONLY IF IT IS "MORE LIKELY THAN NOT" THAT THE POSITION WOULD BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED IS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED ON EXAMINATION. FOR TAX POSITIONS NOT MEETING THE "MORE LIKELY THAN NOT" TEST, NO TAX BENEFIT IS RECORDED. THE ADOPTION HAD NO TAX EFFECT ON THE ORGANIZATION'S FINANCIAL STATEMENTS. Other revenues in audited financial statements not in form 990 Schedule D, Part XII, Line 2d RENTAL REVENUE EXPENSES - 52943; Other revenues in form 990 not in audited financial statements Schedule D, Part XII, Line 4b CHARITABLE CARE - 505625; Other expenses in audited financial statements not in form 990 Schedule D, Part XIII, Line 2d RENTAL REVENUE EXPENSES - 52943; Other expenses in form 990 not in audited financial statements Schedule D, Part XIII, Line 4b CHARITABLE CARE - 505625; true CHARITABLE CARE 78 505625 0 N/A N/A Procedures for monitoring use of grant funds Schedule I, Part I, Line 2 THE ORGANIZATION'S CHARITABLE SUPPORT PROGRAM HAS TWO COMPONENTS. IN SEVERAL INSTANCES, THE ORGANIZATION HAS AGREED TO PROVIDE A FIXED AMOUNT PER MONTH IN CHARITABLE SUPPORT WITH THE EXPECTATION THAT THE INDIVIDUAL IS THEN RESPONSIBLE FOR THE BALANCE OF THEIR MONTHLY BILL. THE SECOND COMPONENT DESIGN IS WHEN AN INDIVIDUAL HAS ESSENTIALLY RUN OUT OF ASSETS AND THE ORGANIZATION CONTINUES TO PROVIDE ALL THE REQUIRED SERVICES WITH CHARITABLE CARE. X X X X false false false false false false false false false DEBORAH E HART 0 121226 0 0 0 12566 0 5525 0 22323 0 161640 0 0 MICHAEL A FLYNN 0 166632 0 0 0 15221 0 7427 0 20995 0 210275 0 0 METHODS USED TO ESTABLISH COMPENSATION SCHEDULE J, PART I, LINE 3 THE ORGANIZATION RELIES ON SMITH SENIOR LIVING (SSL), A RELATED TAX-EXEMPT ORGANIZATION TO DETERMINE THE COMPENSATION OF THE ORGANIZATION'S TOP MANAGEMENT OFFICIAL. THE CHAIRMAN OF THE BOARD OF SSL EVALUATES AND ESTABLISHES COMPENSATION AND REVIEWS PROTOCOL FOR THE ORGANIZATION'S CEO AND CFO. ANNUAL COMPENSATION COMPARISONS TO INDUSTRY PROFESSIONALS ARE GATHERED AND REVIEWED ON A SEMI-ANNUAL BASIS. DECISIONS ARE DOCUMENTED IN THE BOARD MINUTES. ILLINOIS FINANCE AUTHORITY 861091967 45200BVN5 2005-12-29 61805000 RE-DEVELOPED CAMPUS INTO A CCRC false false false 22500000 0 63046169 2889528 3706008 0 1111028 250181 0 47790073 0 0 2006 true false true true false true true false true 0.0036 0.0000 0.0036 true false true true LASALLE BANK NATIONAL ASSOCIATION 4.0 false false true NATIXIS 40.0 true true false BOND GROSS PROCEEDS INVESTED BEYOND AVAILABLE TEMPORARY PERIOD SCHEDULE K, PART IV, LINE 5 THE YIELD REDUCTION CALCULATION WAS PERFORMED AND THERE WAS NO LIABILITY OWED. Description of other program services Form 990, Part III, Line 4d 4D. THE ORGANIZATION ASSESSES AN ENTRANCE FEE UPON MOVING INTO AN INDEPENDENT LIVING UNIT. THIS ENTRANCE FEE SECURES THE RESIDENT'S RIGHT TO RECEIVE DISCOUNTED SERVICES IN HEALTHCARE SHOULD THEY REQUIRE TRANSITION TO ASSISTED LIVING OR SKILLED CARE. UPON LEAVING THE CCRC, RESIDENTS RECEIVE EITHER A 90% OR 95% REFUND OF THE ORIGINAL ENTRANCE FEE. THE NON-REFUNDABLE PORTION OF THE ENTRANCE FEE IS RETAINED BY THE COMPANY AND AMORTIZED INTO INCOME OVER THE ESTIMATED LIFE CYCLE OF INDIVIDUALS IN INDEPENDENT LIVING. 4E. THE ORGANIZATION OWNS AND OPERATES A 17 UNIT APARTMENT BUILDING RESTRICTED TO SENIOR ADULTS. THESE UNITS PROVIDE AFFORDABLE HOUSING ALTERNATIVES WITHOUT ANY OF THE SERVICES PROVIDED WITHIN THE SCOPE OF THE CONTINUING CARE RETIREMENT COMMUNITY. 4F. THE ORGANIZATION PROVIDES BASE PACKAGES OF SERVICES TO RESIDENTS WITHIN A SET MONTHLY OR DAILY FEE STRUCTURE. RESIDENTS CAN CHOOSE TO SECURE ADDED SERVICES FOR ADDITIONAL FEES IN AREAS SUCH AS BEAUTY AND BARBER SERVICES, ADDITIONAL DINING OPTIONS, UNDERGROUND PARKING, TECHNOLOGY SERVICES, AND SPECIAL EVENT PARTICIPATION. Delegation of management duties Form 990, Part VI, Section A, Line 3 THE ORGANIZATION HAS AN AGREEMENT WITH SMITH SENIOR LIVING (SSL) TO OVERSEE AND MANAGE ITS DAY-TO-DAY OPERATIONS. THE INITIAL TERM OF THIS AGREEMENT WAS FOR THE PERIOD OF ONE (1) YEAR. THIS AGREEMENT RENEWS ANNUALLY THEREAFTER UNLESS TERMINATED IN ACCORDANCE WITH OTHER TERMS AND CONDITIONS CONTAINED THEREIN. FURTHERMORE, CERTAIN SUBORDINATION AND DEFERRAL PROVISIONS APPLY IN CONNECTION WITH PAYMENT OF COMPENSATION TO SSL. UNDER THE TERMS OF THE AGREEMENT, THE ORGANIZATION MUST COMPENSATE SSL FOR MANAGEMENT SERVICES RENDERED. THE AGREEMENT ALSO CONTAINS A PROVISION TO COMPENSATE SSL FOR SUPPLEMENTAL SERVICES IT MAY PROVIDE ABOVE AND BEYOND THOSE ENUMERATED IN THE AGREEMENT. IN ADDITION, THE ORGANIZATION MUST PAY SSL AN ADDITIONAL SUM ON A MONTHLY BASIS AS REIMBURSEMENT FOR SSL'S OVERHEAD EXPENSES RELATED TO THE ORGANIZATION. EXPENSES INCURRED BY THE ORGANIZATION FOR MANAGEMENT SERVICES PROVIDED UNDER THIS AGREEMENT AND CERTAIN PASS-THROUGH CORPORATE COSTS WERE $1,603,000. Classes of members or stockholders Form 990, Part VI, Section A, Line 6 SMITH VILLAGE HAS A SINGLE CLASS OF VOTING MEMBERS AND THE SOLE MEMBER OF THAT CLASS IS SMITH SENIOR LIVING, A RELATED ILLINOIS TAX-EXEMPT ORGANIZATION, WHICH SHALL CONTINUE FROM YEAR-TO-YEAR AS THE SOLE MEMBER OF THE ORGANIZATION. Members or stockholders electing members of governing body Form 990, Part VI, Section A, Line 7a THE ORGANIZATION MUST HAVE APPROVAL OF ITS SOLE MEMBER, SMITH SENIOR LIVING, BEFORE ELECTING OR REMOVING ANY OF THE ORGANIZATION'S TRUSTEES AND OFFICERS. Decisions requiring approval by members or stockholders Form 990, Part VI, Section A, Line 7b THE ORGANIZATION SHALL NOT TAKE ANY OF THE FOLLOWING ACTIONS WITHOUT THE APPROVAL OF THE SOLE MEMBER: (1) AMENDMENT OF THE ARTICLES OF INCORPORATION OF THIS CORPORATION. (2) AMENDMENT OF THE BYLAWS OF THIS CORPORATION. (3) MERGER, CONSOLIDATION OR DISSOLUTION OF THIS CORPORATION. (4) THE CREATION OF ANY SUBSIDIARIES OR AFFILIATES OF THIS CORPORATION. (5) ADOPTION OF THE BUSINESS PLAN APPROVED ANNUALLY BY THE BOARD OF TRUSTEES OF THIS CORPORATION. (6) ADOPTION OF THE ANNUAL BUDGET APPROVED BY THIS CORPORATION AND ANY ACTIONS TAKEN BY THIS CORPORATION WHICH WOULD OR COULD INVOLVE EXPENDITURES WHICH EXCEED ONE HUNDRED AND TEN PERCENT (110%) OF THE APPROVED BUDGETED AMOUNTS FOR SUCH EXPENDITURES. (7) THE SELECTION OF BANKING AFFILIATIONS, ACCOUNTING FIRMS OR LEGAL COUNSEL, AS WELL AS APPROVAL OF THE ENGAGEMENT OF ANY CONSULTANTS NOT SPECIFICALLY PROVIDED IN AN APPROVED BUDGET. (8) THE SELECTION AND RETENTION OF THE EXECUTIVE DIRECTOR OF THIS CORPORATION. (9) THE MAKING OF CAPITAL EXPENDITURES OR SALE OF ANY CAPITAL ASSETS BY THIS CORPORATION IN EXCESS OF FIFTY THOUSAND DOLLARS ($50,000) UNLESS PROVIDED IN THE ANNUAL BUDGET. (10) THE SELECTION OF THE MANNER AND LOCATION OF INVESTMENT OF ANY FUNDS. (11) THE EXTENSION OF ANY LOANS BY OR ANY BORROWING BY THIS CORPORATION. Review of form 990 by governing body Form 990, Part VI, Section B, Line 11b THE ORGANIZATION'S INTERNAL MANAGEMENT REVIEWS THE RETURN WITH ITS PAID TAX PREPARER. AFTER REVIEW, COPIES OF THE FULL FORM 990 ARE PRESENTED TO ALL TRUSTEES VIA EMAIL PRIOR TO FILING THE RETURN WITH THE IRS. FULL REVIEW OF THE RETURN IS DELEGATED TO THE FINANCE COMMITTEE. Conflict of interest policy Form 990, Part VI, Section B, Line 12c ANNUALLY ALL TRUSTEES AND KEY PERSONNEL ARE REQUIRED TO COMPLETE A DISCLOSURE FOR CONFLICTS OF INTEREST. THE DISCLOSURES ARE REVIEWED BY THE CFO WHO DETERMINES IF A POTENTIAL OR ACTUAL CONFLICT OF INTEREST EXISTS. IF A POTENTIAL OR ACTUAL CONFLICT OF INTEREST EXISTS THE TRUSTEE IS REQUIRED TO RECUSE THEMSELVES FROM ANY VOTING, DELIBERATION, OR DECISION ON THE TRANSACTION AT THE BOARD LEVEL. FURTHERMORE, ALL VENDOR PAYMENT ACTIVITY IS REVIEWED BY THE CFO FOR VENDORS THAT MAY BE RELATED TO THE FILING ORGANIZATION. Process used to establish compensation of top management official Form 990, Part VI, Section B, Line 15a THE ORGANIZATION RELIES ON SMITH SENIOR LIVING (SSL), A RELATED TAX-EXEMPT ORGANIZATION TO DETERMINE THE COMPENSATION OF THE ORGANIZATION'S TOP MANAGEMENT OFFICIAL. THE CHAIRMAN OF THE BOARD OF SSL EVALUATES AND ESTABLISHES COMPENSATION AND REVIEWS PROTOCOL FOR THE ORGANIZATION'S CEO AND CFO. ANNUAL COMPENSATION COMPARISONS TO INDUSTRY PROFESSIONALS ARE GATHERED AND REVIEWED ON A SEMI-ANNUAL BASIS. DECISIONS ARE DOCUMENTED IN THE BOARD MINUTES. THE LAST COMPENSATION REVIEW WAS COMPLETED IN 2010. DUE TO GENERAL ECONOMIC ISSUES, COMPENSATION ADJUSTMENTS WERE FOREGONE IN FISCAL YEAR 2011 FOR THE CEO. Public Disclosure Form 990, Part VI, Section C, Line 19 FINANCIAL STATEMENTS, GOVERNING DOCUMENTS, AND CONFLICT OF INTEREST POLICIES ARE NOT REQUIRED DISCLOSURES PURSUANT TO INTERNAL REVENUE CODE (IRC) SECTION 6104. THESE DOCUMENTS ARE NOT AVAILABLE TO THE PUBLIC AT THIS TIME. COMPENSATION OF THE ORGANIZATION'S OTHER OFFICERS AND KEY EMPLOYEES FORM 990, PART VI, SECTION B, LINE 15B THE CEO OF THE ORGANIZATION DETERMINES THE ANNUAL COMPENSATION OF ALL OTHER OFFICERS, WITH THE EXCEPTION OF THE CFO, BY COMPARING THE COMPENSATION OF EACH OFFICER AND KEY EMPLOYEE TO PROFESSIONALS PERFORMING SIMILAR SERVICES IN SIMILAR INDUSTRIES ON AN ANNUAL BASIS. THE CHAIRMAN OF THE BOARD EVALUATES AND ESTABLISHES COMPENSATION AND REVIEWS PROTOCOL FOR THE ORGANIZATION'S CFO. ANNUAL COMPENSATION COMPARISONS TO INDUSTRY PROFESSIONALS ARE GATHERED AND REVIEWED ON A SEMI-ANNUAL BASIS. THE LAST COMPENSATION REVIEW WAS COMPLETED IN 2010. FAMILY/BUSINESS RELATIONSHIPS AMONGST INTERESTED PERSONS FORM 990, PART VI, SECTION A, LINE 2 RICHARD MARNERIS, TRUSTEE, IS THE BROTHER OF RAYMOND J MARNERIS, CFO. RICHARD MARNERIS WAS TRUSTEE THROUGH AUGUST OF 2010. RAYMOND J MARNERIS BECAME CFO IN APRIL OF 2011. THEREFORE, RICHARD WAS NOT ON THE BOARD OF DIRECTORS WHEN RAYMOND WAS THE CFO. THEY ARE BOTH LISTED AS INTERESTED PERSONS BECAUSE THEY EACH SERVED IN THEIR RESPECTIVE POSITIONS FOR PART OF THE YEAR ENDING JUNE 30, 2011. COMPENSATION OF OFFICERS, DIRECTORS, TRUSTEE, KEY EMPLOYEES, ETC FORM 990, PART VII, SECTION A, LINE 1(A), COLUMN (B) THE CEO, CFO, AND CIO REPORTED ON PART VII DEVOTE APPROXIMATELY 38 HOURS A WEEK TO SMITH SENIOR LIVING AND 2HRS A WEEK TO SMITH CROSSING, BOTH OF WHICH ARE RELATED TAX-EXEMPT ORGANIZATIONS. THE FOLLOWING TRUSTEES/OFFICERS EACH DEVOTE APPROXIMATELY 1-2 HOURS A WEEK TO SMITH SENIOR LIVING, A RELATED TAX-EXEMPT ORGANIZATION: THOMAS CHOMICZ EUGENE DELVES ALLEN FLAGLER WILLIAM HUNDING MICHAEL LEATHERMAN RICHARD MARNERIS STEVEN MURPHY GEORGE PETRAITIS KARYN PETTIGREW THE FOLLOWING TRUSTEE/OFFICERS EACH DEVOTE APPROXIMATELY 1-2HRS A WEEK TO SMITH CROSSING, A RELATED TAX-EXEMPT ORGANIZATION: MICHAEL LEATHERMAN GEORGE PETRAITIS THOMAS CHOMICZ Other changes in net assets or fund balances Form 990, Part XI, Line 5 NET UNREALIZED GAINS (LOSSES) ON INVESTMENTS - 5725; WJS - SMITH SENIOR LIVING 2320 WEST 113TH PLACE CHICAGO IL 60643 364335178 MANAGEMENT IL 501(C)(3) 11 - Type I NA WJS - SMITH CROSSING 10501 EMILIE LANE ORLAND PARK IL 60467 364333423 CCRC IL 501(C)(3) 9 SSL false false true false true false false false true false false true false false false false false false