2026-08-14T15:02:47-05:00 2025-09-30 410746749 CLIFTONLARSONALLEN LLP 14815 BALLANTYNE VILLAGE WAY SUITE 300 CHARLOTTE NC 28277 990 2024-10-01 560729010 PENICK VILLAGE INC PENI 9106920300 500 EAST RHODE ISLAND AVENUE SOUTHERN PINES NC 28387 ALVA S CROMARTIE III CHIEF EXECUTIVE OFFICER 9106920300 2026-08-13 1 1 KATHERINE A WARLICK P02065266 7049985200 2026-08-13 2024 2025-03-06 01:10:19Z ALVA S CROMARTIE III 500 EAST RHODE ISLAND AVENUE SOUTHERN PINES NC 28387 24055785 0 X WWW.PENICKVILLAGE.ORG X 1957 NC OPERATES A LIFE PLANNING COMMUNITY, SEE ALSO PART III, LINE 1. 17 17 409 340 201719 0 1328265 2075112 19608364 21314988 485269 663213 0 0 21421898 24053313 0 0 0 0 10656378 11328164 0 0 300122 10630536 11028977 21286914 22357141 134984 1696172 76594546 156537408 64102076 142893565 12492470 13643843 X AS A FAITH-BASED NONPROFIT ORGANIZATION, PENICK VILLAGE'S MISSION IS TO CULTIVATE A FRIENDLY AND SAFE COMMUNITY WHERE RESIDENTS HAVE THE FREEDOM TO FOCUS ON THEIR WELLNESS AND RELATIONSHIPS WHILE LIVING TO LIFE'S FULLEST POTENTIAL. (CONTINUED ON SCHEDULE O) PENICK VILLAGE'S VISION IS TO OFFER A PREMIER LIFEPLAN COMMUNITY EXPERIENCE TO OUR RESIDENTS, DELIVERING EXCEPTIONAL SERVICES, LIFESTYLE, AND INNOVATION. 0 0 16825268 0 21113269 PENICK VILLAGE PROVIDES HOUSING, SERVICES, AND LONG-TERM CARE TO OVER 230 RESIDENTS. THE SERVICES AND CARE ARE PROVIDED IN INDEPENDENT LIVING, ASSISTED LIVING, AND SKILLED NURSING AREAS. PENICK VILLAGE ALSO CONTRIBUTES TO THE GREATER SOUTHERN PINES COMMUNITY AND MOORE COUNTY IN WHICH IT IS LOCATED BY DONATING TIME AND RESOURCES TO, AMONG OTHERS, THE MOORE COUNTY CHAMBER OF COMMERCE, FIRSTHEALTH HOSPITAL, LEADINGAGE NC, EPISCOPAL DAY SCHOOL, RED CROSS, HABITAT FOR HUMANITY, FRIEND TO FRIEND, AND THE SOUTHERN PINES FIRE AND POLICE DEPARTMENTS. THE PENICK VILLAGE COMMUNITY ALSO PROVIDES FINANCIAL ASSISTANCE TO THOSE RESIDENTS IN NEED.(CONTINUED ON SCHEDULE O)NURSING IS KEY TO THE CONTINUUM OF CARE FOR THE RESIDENTS AT PENICK VILLAGE. SKILLED NURSING SERVICES ARE PROVIDED PER PHYSICIAN ORDERS THAT MAY INCLUDE BUT ARE NOT LIMITED TO ASSISTANCE WITH ACTIVITIES OF DAILY LIVING, MEDICATION ADMINISTRATION, PHYSICAL, OCCUPATIONAL AND SPEECH THERAPY, SPECIALIZED DIETS AND OTHER NEEDS PER ORDERS. THE QUALITY NURSING IS KEY TO ACHIEVING THIS AND IN MAXIMIZING THE QUALITY OF LIFE FOR EACH OF THE RESIDENTS. THE CARE IS PERSONALIZED, AND A STRONG PARTNERSHIP IS DEVELOPED AMONG THE RESIDENT, HIS OR HER FAMILY, AND THE STAFF AT PENICK VILLAGE IN ORDER TO HAVE THE RESIDENT'S NEEDS DRIVE HIS OR HER PLAN OF CARE. PENICK VILLAGE ALSO OFFERS A BROAD RANGE OF IN-HOME SERVICES TO THOSE SENIORS THAT PREFER TO AGE IN HOME. PENICK TAILORS CARE PLANS INDIVIDUALLY, FOLLOWING A FREE IN-HOME CONSULTATION AND ASSESSMENT. POTENTIAL HOME CARE SERVICES INCLUDE COMPANION/SITTER/RESPITE CARE (INCLUDING TRANSPORTATION, LIGHT HOUSEKEEPING, ERRANDS, PET CARE, DAILY CHECK-INS, AND MEDICATION REMINDERS), CARE MANAGEMENT TO ENSURE PROPER TREATMENT, AND POST HOSPITAL DISCHARGE FOLLOW UPS (INCLUDING MEDICARE/LONG-TERM CARE INSURANCE REVIEWS, HOME ORGANIZING/DOWNSIZING, SUPPORT THROUGH DIFFERENT LEVELS OF CARE, HOME SAFETY ASSESSMENTS/MODIFICATIONS, AND REFERRALS TO COMMUMINITY PARTNERS).INDIVIDUALS WHO MOVE INTO PENICK FOR ASSISTED LIVING ARE PROVIDED A UNIQUE SERVICE THAT HAS BEEN PURPOSEFULLY PLANNED TO FILL THEIR INDIVIDUAL NEEDS AND PREFERENCES AND DESIGNED TO SERVE THEM TO THE BEST OF OUR ABILITY. OUR NURSING STAFF MEETS WITH THE NEW RESIDENT AND FAMILY PRIOR TO MOVE IN TO FULLY UNDERSTAND EACH SITUATION AND DESIGN A PERSONALIZED PLAN. ASSISTED LIVING RESIDENTS ENJOY: - A SPACIOUS, PRIVATE APARTMENT- LICENSED CARE SEVEN DAYS A WEEK- DELICIOUS, NUTRITIOUS MEALS- A SAFE SETTING THAT PROMOTES INDEPENDENCE- MEDICATION ASSISTANCE AND/OR ADMINISTRATION AVAILABLE- CARING AND DEDICATED HEALTHCARE PROFESSIONALS- 24-HOUR EMERGENCY CALL SYSTEMS- A VIBRANT SOCIAL ATMOSPHERE- ACCESS TO ALL COMMUNITY AMENITIESDINING SERVICES IS ONE OF PENICK VILLAGE'S ESSENTIAL SERVICES. DINING SERVICES STRIVES TO PRIVIDE A WONDERFUL DINING EXPERIENCE IN ALL LEVELS OF CARE FOR THE RESIDENTS AND THEIR FAMILY AND FRIENDS. THERE ARE SEVERAL DINING OPPORTUNITIES ON THE CAMPUS, INCLUDING THE CAFE EXPERIENCE, A PRIVATE DINING ROOM, CATERING IN ONE'S APARTMENT OR COTTAGE, INDIVIDUALIZED MENUS AND MORE. DINING SERVICES IS COMMITTED TO PREPARING THE SAME QUALITY AND CHOICES OF FOOD ITEMS IN THE HEALTHCARE AREAS THAT ARE AVAILABLE TO INDEPENDENT RESIDENTS. DINING SERVICES ALSO HOSTS EVENTS FOR OTHER SPECIAL COMMUNITY GROUPS SUCH AS THE KIWANIS. AS AN EMPLOYEE BENEFIT, THE STAFF ALSO ENJOYS WONDERFUL MEALS AT A GENEROUS DISCOUNT.PENICK VILLAGE IS ALSO VERY PROUD OF ITS HOUSEKEEPING SERVICES. HOUSEKEEPING PROVIDES GENERAL CLEANING SERVICES ALONG WITH LINEN SERVICES AS REQUESTED. THE HOUSEKEEPING TEAM BUILDS GREAT RELATIONSHIPS WITH THE RESIDENTS THEY ARE SERVING AND HAVE HELPED SIGNIFICANTLY IN TIMES OF NEED. 16825268 1 1 0 0 0 0 0 1 1 1 1 0 0 0 1 1 0 1 0 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 0 1 1 1 0 0 0 1 82 0 1 409 1 1 1 0 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 0 1 1 1 1 0 NC X MELISSA S SMITH CFO 9106920300 500 E RHODE ISLAND AVE SOUTHERN PINES NC 28387 FRANK QUIS PRESIDENT 1.00 0.00 X X 0 0 0 MICAH NEIBAUER VICE PRESIDENT 1.00 1.00 X X 0 0 0 JOHN FRIZZELL IMMEDIATE PAST CHAIR & TREASURER 1.00 0.00 X X 0 0 0 JACKLYNN LESNIAK SECRETARY 1.00 0.00 X 0 0 0 LANCE CRAIG TREASURER 1.00 0.00 X 0 0 0 ANNE HOCUTT RESIDENT DIRECTOR 1.00 0.00 X 0 0 0 JIM LEWIS RESIDENT DIRECTOR 1.00 0.00 X 0 0 0 MARSHA COLES DIRECTOR 1.00 0.00 X 0 0 0 JOANNE DAVIS DIRECTOR 1.00 0.00 X 0 0 0 JOHN EARP DIRECTOR 1.00 0.00 X 0 0 0 JORGE HIDALGO DIRECTOR 1.00 0.00 X 0 0 0 REV J CARR HOLLAND DIRECTOR 1.00 0.00 X 0 0 0 GARY KRASICKY DIRECTOR 1.00 0.00 X 0 0 0 MIKE PENICK DIRECTOR 1.00 0.00 X 0 0 0 SHERRY PRICE DIRECTOR 1.00 0.00 X 0 0 0 WAYNE ROBBINS DIRECTOR 1.00 0.00 X 0 0 0 MARY RECA TODD DIRECTOR 1.00 0.00 X 0 0 0 ALVA CROMARTIE CEO 39.00 1.00 X 298773 0 50124 CHRISTOPHER MOONEY CFO 39.00 1.00 X 253389 0 13026 CARRIE DUGAS CHIEF OPERATING OFFICER 40.00 0.00 X 167245 0 3519 PANSY REYNOLDS HEALTHCARE ADMINISTRATOR 40.00 0.00 X 123860 0 30278 WENDY FARRELL DIRECTOR OF SALES & MARKETING 40.00 0.00 X 124466 0 4488 JONATHAN DEBERRY DIRECTOR OF FACILITY SERVICES 40.00 0.00 X 118826 0 13185 JENNIFER POLLARD DIRECTOR OF HOME AND COMMUNITY SERVICES 40.00 0.00 X 113520 0 19089 1200079 0 133709 14 0 1 0 BARTLETT CONSTRUCTION LLC PO BOX 3013 PINEHURST NC 28374 CONSTRUCTION 829208 BRIAN SCHIFF & ASSOC LLC 3418 NATION DR FRISCO TX 75034 CONSULTING 373954 RLPS LLP 250 VALLEYBROOK DRIVE LANCASTER PA 17601 ARCHITECTS/ CONSTRUCTION 294180 THS NATIONAL LLC 1550 CLASSIC RD APEX NC 27539 CONSTRUCTION 274380 CLIFTONLARSONALLEN LLP PO BOX 740863 ATLANTA GA 30374 ACCOUNTING/ CONSULTING 269694 8 788903 1286209 2075112 INDEPENDENT LIVING 623000 8552513 8552513 HEALTHCARE 623000 7368745 7368745 EARNED ENTRANCE FEES 623000 3830929 3830929 JA GREER GROUP 531310 201719 201719 1361082 1361082 21314988 607778 607778 57907 0 2472 57907 -2472 55435 55435 24053313 21113269 201719 663213 756421 756421 8782921 7368704 1287752 126465 1112748 897472 199873 15403 676074 524643 142427 9004 247251 247251 55082 55082 1251069 678978 565584 6507 138393 6436 123780 8177 290403 212101 47043 31259 818994 127437 691557 33801 10268 22474 1059 21325 14375 4443 2507 1693546 1567282 126264 2718864 2311073 407791 787586 708828 78758 FOOD 958880 958880 0 0 REPAIRS AND MATINENANCE 752991 530651 165388 56952 ANCILLARY SERVICES 410757 410757 MISCELLANEOUS EXPENSES 400046 272764 84493 42789 449989 224619 225370 22357141 16825268 5231751 300122 1200 1200 1077638 2354078 3313728 4490397 63921 63920 450048 215416 78382760 799805 52595886 77582955 12540526 12672119 2127508 1288534 4424091 57868789 76594546 156537408 1531485 6469004 20738398 20508376 34762341 110699035 124396 131886 6945456 5085264 64102076 142893565 X 11762401 12222936 730069 1420907 12492470 13643843 76594546 156537408 X 1696172 283529 -828328 X 0 1 X 1 0 X 2346471 1070571 849224 1328265 2075112 7669643 16886921 17242282 18425035 19142082 21113269 92809589 19233392 18312853 19274259 20470347 23188381 100479232 341129 341129 0 341129 341129 100138103 236309 236082 355027 400353 607778 1835549 236309 236082 355027 400353 607778 1835549 19469701 18548935 19629286 20870700 23796159 102314781 0.97870 0.98120 0.01790 0.01530 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 1 0 1 X 329407 329407 329407 329407 329407 239407 329407 329407 329407 329407 0.00000 1.00000 0.00000 0 1 1 678542 678542 44002489 577109 43425380 828595 206042 622553 32873134 16654 32856480 77582955 HELD BY TRUSTEE UNDER BOND AGREEMENTS 51513918 INVESTMENTS - OPERATING RESERVE REQUIREMENT 3705000 ASSETS LIMITED AS TO USE 2117950 BENEFICIAL INTEREST IN ANNUITIES 220493 INVESTMENT IN UNITY MUTUAL INSURANCE 212293 INTANGIBLE ASSET 65178 DEPOSITS 32957 INVESTMENT IN AFFILIATE 1000 57868789 REFUND LIABILITY 2431932 APPLICATION AND PREPAID ADMISSION DEPOSITS 2653332 5085264 X PART III, LINE 4: THE ORGANIZATION DISPLAYS VARIOUS PIECES OF ART THROUGHOUT ITS CAMPUS FOR THE GENERAL ENJOYMENT OF ITS RESIDENTS. PART IV, LINE 2B: PENICK VILLAGE MAINTAINS CUSTODY OVER A RESIDENT TRUST CASH ACCOUNT WHEREIN VARIOUS RESIDENTS' MONIES ARE REGULARLY DEPOSITED. OUT OF THIS ACCOUNT, PENICK VILLAGE ASSISTS THOSE RESIDENTS IN PAYING THEIR BILLS AND/OR MONTHLY SERVICE CHARGES THROUGH AN AUTOMATIC WITHDRAWAL FROM THEIR FUNDS. PART V, LINE 4: THE ORGANIZATION'S ENDOWMENT FUNDS EXIST TO PROVIDE CHARITABLE CARE TO RESIDENTS. PART X, LINE 2: THE VILLAGE IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE IRC; ACCORDINGLY, THE CONSOLIDATED FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION OR LIABILITY FOR FEDERAL AND STATE INCOME TAXES. AS A LIMITED LIABILITY COMPANY, GREER'S TAXABLE INCOME OR LOSS IS ALLOCATED TO ITS MEMBERS IN ACCORDANCE WITH THE OPERATING AGREEMENT AND IS INCLUDED IN THEIR INDIVIDUAL INCOME TAX RETURNS; ACCORDINGLY, THE ACCOMPANYING FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION OR LIABILITY FOR FEDERAL AND STATE INCOME TAXES. THE ORGANIZATION HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF SEPTEMBER 30, 2025 AND 2024. PART V DURING FY22-23, THE ORGANIZATION TRANSFERRED IT'S PERMANENT ENDOWMENT ASSETS TO ITS RELATED FOUNDATION, A 501(C)(3) PUBLIC CHARITY. X X X 0 0 0 0 0 0 0 1 0 ALVA CROMARTIE CEO 263960 0 34813 0 0 0 6269 0 43855 0 348897 0 0 0 CHRISTOPHER MOONEY CFO 226417 0 26972 0 0 0 3031 0 9995 0 266415 0 0 0 CARRIE DUGAS CHIEF OPERATING OFFICER 140845 0 26400 0 0 0 3519 0 0 0 170764 0 0 0 PANSY REYNOLDS HEALTHCARE ADMINISTRATOR 106355 0 17505 0 0 0 3021 0 27257 0 154138 0 0 0 PART I, LINE 7 ELIGIBLE LEADERSHIP TEAM MEMBERS MAY EARN AN ANNUAL INCENTIVE OF UP TO 10% OF THEIR ANNUAL BASE SALARY. MEMBERS OF THE EXECUTIVE LEADERSHIP TEAM (C-SUITE) MAY EARN AN ANNUAL INCENTIVE OF UP TO 15% OF THEIR ANNUAL BASE SALARY. THE ANNUAL INCENTIVE IS BASED ON MEETING ORGANZATION-WIDE STRATEGIC GOALS, AS APPROVED BUT THE EXECUTIVE COMMITTEE AND/OR BOARD OF DIRECTORS AT THE BEGINNING OF THE PERFORMANCE YEAR, AS WELL AS INDIVIDUAL PERFORMANCE GOALS DEVELOPED IN COLLABORATION WITH THE EMPLOYEE'S SUPERVISOR AND REVIEWED BY THE CHIEF EXECUTIVE OFFICER. FOLLOWING COMPLETION OF PERFORMANCE EVALUATIONS, MANAGEMENT PRESENTS THE RECOMMENDED INCENTIVE PAYMENTS TO THE EXECTUTIVE COMMITTEE AND/OR BOARD OF DIRECTORS FOR THEIR REVIEW AND APPROVAL. A PUBLIC FINANCE AUTHORITY 521309402 74444VAS9 2019-11-06 32440000 FINANCE PROJECT COSTS AND REFUND TAXABLE AND TAX-EXEMPT DEBT 0 0 0 B NORTH CAROLINA MEDICAL CARE COMMISSION 521309402 65820YTP1 2024-11-07 73897965 PHASE I EXPANSION PLAN - 44 NEW IL UNITS AMONG OTHER ITEMS 0 0 0 A 4364915 34864620 2007000 900824 697293 10484246 20775257 2020 1 0 1 1 B 73897965 4817038 1475804 14365241 53236882 0 0 0 0 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 0 0 0 0 0 1 A 1 B 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: PUBLIC FINANCE AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 11/26/2024 FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY THE ORGANIZATION'S OFFICERS, AND THEN PROVIDED TO THE FULL BOARD OF DIRECTORS FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 15 THE PENICK VILLAGE EXECUTIVE COMMITTEE SERVES AS THE ORGANIZATION'S COMPENSATION COMMITTEE AND ANNUALLY REVIEWS AND DETERMINES THE CEO'S COMPENSATION. IN MAKING ITS DETERMINATION, THE EXECUTIVE COMMITTEE CONSIDERS RELEVANT COMPENSATION SURVEYS AND MARKET DATA FROM COMPARABLE ORGANIZATIONS. THE EXECUTIVE COMMITTEE'S REVIEW AND COMPENSATION DETERMINATION ARE DOCUMENTED AND MAINTAINED IN THE CEO'S PERSONNEL FILE. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2025. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST AT THE ADMINISTRATION OFFICES. FORM 990, PART XI, LINE 9: CHANGE IN FAIR VALUE OF SPLIT-INTEREST AGREEMENT 10,646. DECREASE IN BENEFICIAL INTEREST IN PVF -838,974. JA GREER GROUP LLC 500 EAST RHODE ISLAND AVENUE SOUTHERN PINES NC 28387 814456670 RENTAL NC 201719 4052309 PENICK VILLAGE PENICK VILLAGE FOUNDATION INC 500 EAST RHODE ISLAND AVENUE SOUTHERN PINES NC 28237 201055492 CHARITABLE FUNDRAISING NC 501(C)(3) LINE 12A, I PENICK VILLAGE 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 PENICK VILLAGE FOUNDATION C 788903 TRANSFER OF NET ASSETS