2024-08-15T14:04:51-05:00 2023-09-30 410746749 CLIFTONLARSONALLEN LLP 227 WEST TRADE STREET SUITE 800 CHARLOTTE NC 28202 990 2022-10-01 560729010 PENICK VILLAGE INC PENI 9106920300 500 EAST RHODE ISLAND AVENUE SOUTHERN PINES NC 28387 CHRISTOPHER MOONEY CHIEF FINANCIAL OFFICER 9106920300 2024-08-15 1 0 KATHERINE A WARLICK P02065266 7049985200 2024-08-15 2022 2024-08-08 14:25:15Z ALVA S CROMARTIE III 500 EAST RHODE ISLAND AVENUE SOUTHERN PINES NC 28387 21944160 0 X WWW.PENICKVILLAGE.ORG X 1957 NC OPERATES A LIFE PLANNING COMMUNITY, SEE ALSO PART III, LINE 1. 16 16 355 340 539932 0 1070571 849224 17668242 18964967 356779 2129969 0 0 19095592 21944160 0 0 0 0 10470373 10625167 0 0 192529 8807473 9987749 19277846 20612916 -182254 1331244 70209162 73223544 61812848 62507697 8396314 10715847 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 15713973 18425035 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. 15713973 1 1 0 0 0 0 0 1 1 0 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 87 0 1 355 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 16 16 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NC X CHRISTOPHER MOONEY CFO 9106920300 500 E RHODE ISLAND AVE SOUTHERN PINES NC 28387 JIM LEWIS BOARD MEMBER 1.00 X 0 0 0 ANNE HOCUTT BOARD MEMBER 1.00 X 0 0 0 MARSHA COLES BOARD MEMBER 1.00 X 0 0 0 GARY KRASICKY PAST PRESIDENT 1.00 X X 0 0 0 MIKE PENICK BOARD MEMBER 1.00 X 0 0 0 DARLENE VAUGHN BOARD MEMBER 1.00 X 0 0 0 JOHN FRIZZELL III PRESIDENT 1.00 1.00 X X 0 0 0 LYNNE HEALY BOARD MEMBER 1.00 1.00 X 0 0 0 SHERRY PRICE SECRETARY 1.00 X X 0 0 0 MICAH NIEBAUER VICE PRESIDENT 1.00 1.00 X X 0 0 0 W LANCE CRAIG TREASURER 1.00 X X 0 0 0 MARY RECA TODD BOARD MEMBER 1.00 X 0 0 0 LEN GILLESPIE BOARD MEMBER 1.00 X 0 0 0 WAYNE ROBBINS BOARD MEMBER 1.00 X 0 0 0 REV J CARR HOLLAND BOARD MEMBER 1.00 X 0 0 0 FRANK QUIS BOARD MEMBER 1.00 X 0 0 0 TERRY KEES CFO 39.00 1.00 X 205137 0 16858 ALVA CROMARTIE CEO 39.00 1.00 X 231660 0 39215 RAYMOND ESTEVES HEALTHCARE ADMINISTRATOR 40.00 X 114943 0 195 CAROLINE EDDY CDO 39.00 1.00 X 125042 0 13756 MICHAEL WHITLOCK DIRECTOR, DINING SERVICES 1.00 X 109056 0 0 WENDY FARRELL DIRECTOR, SALES AND MARKETING 40.00 X 109012 0 3472 VERONIA AXT DIRECTOR, HUMAN RESOURCES 40.00 X 101472 0 14036 996322 0 87532 7 0 1 0 THS NATIONAL LLC 1550 CLASSIC RD SUITE 100 APEX NC 27539 CONSTRUCTION 970458 US FOODS PO BOX 602211 CHARLOTTE NC 28260 FOOD 888992 RLPS LLC 250 VALLEYBROOK DR LANCASTER PA 17601 CONSTRUCTION 791085 PINNACLE DEVELOPMENT PO BOX 55 SOUTHERN PINES NC 28388 CONSTRUCTION 610757 BARTLETT CONSTRUCTION PO BOX 3013 PINEHURST NC 28374 CONSTRUCTION 391878 20 455310 393914 849224 INDEPENDENT LIVING 623000 7382858 7382858 HEALTHCARE 623000 6867030 6867030 EARNED ENTRANCE FEES 623000 3580509 3580509 JA GREER GROUP 531310 539932 539932 594638 594638 18964967 355027 355027 1762445 12497 0 0 1762445 12497 1774942 1774942 21944160 18425035 539932 2129969 492870 492870 7921529 6689002 1232527 1614751 996637 618114 596017 452777 143240 498121 314177 183944 124525 124525 40555 40555 999853 999853 550678 1367 546747 2564 1113923 814510 297382 2031 770699 770699 37546 18598 15133 3815 13650 13475 175 1656983 1530378 126605 2425761 1960900 464861 41509 18965 22544 SUPPLIES 1341242 1340840 402 MISCELLANEOUS 173726 64046 109680 EMPLOYEE RECRUITMENT AN 160114 16537 143577 OTHER EXPENSES 38864 38864 20612916 15713973 4706414 192529 1200 1200 10005113 4820627 2288585 2283198 0 412090 400682 71081355 20798606 47003900 50282749 10053489 10605089 0 2186121 444785 2643878 70209162 73223544 1289319 2424551 18589403 18568760 35905370 35343189 118056 6028756 6053141 61812848 62507697 X 7667908 10008783 728406 707064 8396314 10715847 70209162 73223544 X 1331244 -936312 1924601 X 0 1 X 1 0 X 874819 294121 2346471 1070571 849224 5435206 16999442 16816272 16886921 17028088 18425035 86155758 17874261 17110393 19233392 18098659 19274259 91590964 341129 341129 0 341129 341129 91249835 295686 268254 236309 236082 355027 1391358 295686 268254 236309 236082 355027 1391358 385785 401932 425960 539932 1753609 18169947 17764432 19871633 18760701 20169218 94735931 0.96320 0.97290 0.01470 0.01410 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: OTHER INCOME - RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X ANNUAL ART SHOW 1 0 1 X 329407 329407 329407 329407 329407 329407 329407 329407 329407 329407 1.00000 0 0 678542 678542 64175916 19397917 44777999 225997 160768 65229 1880791 1121470 759321 4120109 118451 4001658 50282749 REFUND LIABILITY 4336093 APPLICATION AND PREPAID ADMISSION DEPOSITS 236915 DUE TO AFFILIATE 1479380 INTEREST RATE CAP AGREEMENT 753 6053141 X PART III, LINE 4: FOR THE PAST 14 YEARS, PENICK VILLAGE HAS BROUGHT TOGETHER THE LOCAL COMMUNITY -- RESIDENTS, NEIGHBORS AND RENOWNED LOCAL ARTISTS -- FOR AN ART SHOW AND AUCTION. ONE HUNDRED PERCENT OF THE NET PROCEEDS RAISED DURING THE ANNUAL ART SHOW AND AUCTION GOES DIRECTLY TO THE PENICK VILLAGE BENEVOLENT ASSISTANCE PROGRAM, WHICH SUPPORTS RESIDENTS WHEN THEY OUTLIVE THEIR FINANCIAL RESOURCES THROUGH NO FAULT OF THEIR OWN. FOR THIS REASON, PENICK VILLAGE HAS NEVER ASKED A RESIDENT TO LEAVE! PENICK VILLAGE ALSO 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 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, 2023 AND 2022. X X X 0 0 0 0 0 0 0 0 0 ALVA CROMARTIE CEO 201369 0 30291 0 0 0 1132 0 38083 0 270875 0 0 0 TERRY KEES CFO 194371 0 10766 0 0 0 0 0 16858 0 221995 0 0 0 A PUBLIC FINANCE AUTHORITY 521309402 74444VAS9 2019-11-06 32440000 FINANCE PROJECT COSTS AND REFUND TAXABLE AND TAX-EXEMPT DEBT 0 0 0 A 3406850 34864620 2007000 900824 697293 10484246 20775257 2020 1 0 1 1 A 0 0 0 0 0 0 1 A 0 1 0 0 0 0 0 0 1 A 1 FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY THE ORGANIZATION'S OFFICERS, THEN SENT TO THE FINANCE COMMITTEE FOR REVIEW AND COMMENTS AND THEN PRESENTED TO THE FULL BOARD OF DIRECTORS. IT WILL BE REVIEWED BY THE OFFICERS AND FINANCE COMMITTEE MEMBERS BEFORE FILING WITH THE IRS AND WITH THE FULL BOARD IF THEY ARE SCHEDULED TO MEET BEFORE THE FILING DEADLINE. IF NOT IT WILL BE SENT TO THEM BEFORE THE FILING DEADLINE AND REVIEWED AT THE NEXT SCHEDULED MEETING. FORM 990, PART VI, SECTION B, LINE 12C ALL OFFICERS AND BOARD MEMBERS ARE REQUIRED TO RECEIVE, REVIEW AND SIGN A COPY OF THE CONFLICT OF INTEREST POLICY ANNUALLY AND DISCLOSE IF ANY CONFLICTS MIGHT ARISE IN THE COURSE OF CONDUCTING PENICK VILLAGE BUSINESS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS APPOINTED AN AD-HOC COMPENSATION REVIEW COMMITTEE TO DETERINE THE COMPENSATION FOR THE CEO OF THE ORGANIZATION. THIS REVIEW IS CONDUCTED ON AN ANNUAL BASIS AND USES DATA FROM OTHER ORGANIZATIONS AS WELL AS WAGE SURVEYS TO DETERMINE THE COMPENSATION. THE RESULTS ARE DOCUMENTED IN THE CEO'S PERSONNEL FILE IN HR. THE CEO CONDUCTS ANNUAL REVIEWS FOR THE CFO AND COO OF THE ORGANIZATION. BASED ON THOSE REVIEWS AND WAGE SURVEYS, THE CEO DETERMINES THE UPCOMING YEAR COMPENSATION FOR THESE KEY EMPLOYEES. THE EVALUATION AND ADVICE OF PAYROLL ARE DOCUMENTED IN THE PERSONNEL FILES IN HR. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. 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 10,435. UNREALIZED GAIN ON FAIR VALUE OF NTEREST RATE CAP AGREEMENT 277. UNREALIZED GAIN ON RESTRICTED INVESTMENTS 57,175. BENEFICIAL INTEREST IN FOUNDATION 2,853,682. TRANSFER OF PERMANENT NET ASSETS TO FOUNDATION -329,407. AUDIT CONSOLIDATION ELIMINATION -667,561. JA GREER GROUP LLC 500 EAST RHODE ISLAND AVENUE SOUTHERN PINES NC 28387 814456670 RENTAL NC 539932 3560373 PENICK VILLAGE PENICK VILLAGE FOUNDATION INC 500 EAST RHODE ISLAND AVENUE SOUTHERN PINES NC 28237 201055492 CHARITABLE FUNDRAISING NC 501(C)(3) LINE 10 PENICK VILLAGE 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 PENICK VILLAGE FOUNDATION C 455310 CASH C