2024-02-13T13:13:58-06:00 2023-03-31 410746749 CLIFTONLARSONALLEN LLP 227 WEST TRADE STREET SUITE 800 CHARLOTTE NC 28202 990 2022-04-01 521435132 RAPPAHANNOCK WESTMINSTER-CANTERBURY FOUNDATION RAPP 8044384000 132 LANCASTER DR IRVINGTON VA 22480 STUART A BUNTING PRESIDENT & CEO 8044384000 2024-02-11 1 STUART BUNTING 999009999 0 JOHN NORMAN P01506766 7049985200 2024-02-11 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z STUART A BUNTING 132 LANCASTER DR IRVINGTON VA 22480 8445255 0 X WWW.EMBRACELIFEATRWC.ORG X 1985 VA TO PROVIDE FINANCIAL ASSISTANCE FOR INDIVIDUALS OF RW-C. 4 4 0 15 0 0 419212 822525 0 0 726791 329226 0 0 1146003 1151751 413298 311208 0 0 0 0 0 0 29471 152746 162343 566044 473551 579959 678200 10825083 9729974 35807 22255 10789276 9707719 PRIMARY MISSION IS TO EXTEND THE FACILITIES AND SERVICES OF RW-C INC. TO AID AS MANY DESERVING INDIVIDUALS AS CAN PRUDENTLY BE SUPPORTED WITH THE FUNDS AVAILABLE TO THE FOUNDATION. 0 0 350501 311208 PROVIDES FELLOWSHIP ASSISTANCE TO THOSE RESIDENTS OF RW-C WHO CANNOT FULLY AFFORD THE FOUNDERS FEE OR MONTHLY FEE. USES RESTRICTED CONTRIBUTIONS FOR EMPLOYEE SCHOLARSHIPS, SPECIAL PROJECTS, AND OTHER DESIGNATED PURPOSES ESTABLISHED BY THE DONEE, FOR THE BENEFIT OF THE RESIDENTS. 350501 1 1 0 0 0 0 0 0 0 1 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 4 4 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 VA X X SUSAN VAUGHN 8044384000 132 LANCASTER DR IRVINGTON VA 22480 JANE BIRDSONG TRUSTEE 1.00 X 0 0 0 ELEANOR DAVIS TRUSTEE 1.00 X 0 0 0 PHILIP BOOTH TRUSTEE 1.00 1.00 X 0 0 0 SUSAN MCKENNA TRUSTEE 1.00 X 0 0 0 STUART A BUNTING PRESIDENT/CEO/SECRETARY 4.00 36.00 X 0 278486 33653 WADE E BISHOP TREASURER 4.00 36.00 X 0 105710 14578 0 384196 48231 0 0 1 0 0 822525 822525 211189 211189 7411541 7293504 118037 118037 118037 1151751 0 0 329226 120585 120585 190623 190623 88900 35560 26670 26670 12005 12005 52105 52105 4207 1683 1262 1262 506 202 152 152 MISCELLANEOUS 4620 1848 1385 1387 473551 350501 93579 29471 1710934 1465726 200000 37304 8914149 8226944 10825083 9729974 35807 22255 35807 22255 X 7823300 7858145 2965976 1849574 10789276 9707719 10825083 9729974 X 678200 -759757 -1000000 X X 0 1 X 1 0 X 953897 1794122 309210 419212 822525 4298966 953897 1794122 309210 419212 822525 4298966 1549184 2749782 190049 200064 162352 212001 211189 975655 9100 44859 53959 5328580 0.51600 0.66000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1625878 -66795 63048 1496035 1676650 88611 139383 1625878 1217998 508743 50091 1676650 1331505 -59702 53805 1217998 1399105 61967 129567 1331505 0.55600 0.44400 0 0 0 INVESTMENTS 8226944 F 8226944 DUE TO RW-C 22255 22255 X 1508396 -637273 1142969 505696 1002700 149051 149051 1151751 473551 0 473551 0 473551 PART V, LINE 4: RETURNS ON INVESTMENT MAY BE USED FOR BUILDING REPAIRS AND MAINTENANCE OF RW-C, AS WELL AS EDUCATIONAL SCHOLARSHIPS FOR NURSING. PART X, LINE 2: THE FOUNDATION IS A TAX-EXEMPT ORGANIZATION AS DEFINED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE FOUNDATION'S INCOME TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. THE FOUNDATION IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE ITS TAX-EXEMPT STATUS OR ANY ACTIVITIES THAT ARE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME, EXCISE OR OTHER TAXES. THE FOUNDATION ADOPTED THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ORGANIZATION'S FINANCIAL STATEMENTS IN ACCORDANCE WITH THE INCOME TAX STANDARD. THIS STANDARD PRESCRIBES RECOGNITION AND MEASUREMENT OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. THIS STANDARD HAD NO IMPACT ON THE FOUNDATION'S FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2023 OR 2022. PART XI, LINE 2D - OTHER ADJUSTMENTS: NET ASSETS RELEASED FROM RESTRICTION 1,142,969. PART XI, LINE 4B - OTHER ADJUSTMENTS: RESTRICTED CONTRIBUTIONS 92,926. RESTRICTED INVESTMENT INCOME 34,376. RESTRICTED REALIZED GAIN 21,749. 1 RAPPAHANNOCK WESTMINSTER-CANTERBURY INC 132 LANCASTER DR IRVINGTON VA 22480 541550148 501(C)(3) 120585 0 TO SATISFY VARIOUS RESTRICTED PURPOSE GIFTS 1 MONTHLY FEE FELLOWSHIPS 5 168240 NURSING SCHOLARSHIPS 8 22383 PART I, LINE 2: RW-C EMPLOYEE SCHOLARSHIPS: SCHOLARSHIPS ARE AVALILABLE TO RW-C EMPLOYEES WHO MEET THE SPECIFIC REQUIREMENTS. THE SOURCES OF THESE SCHOLARSHIPS ARE A RESTRICTED GIFT HELD IN TRUST AND A RESTRICTED GIFT HELD BY RW-C FOUNDATION. SCHOLARSHIPS ARE PAID DIRECTLY TO THE COLLEGE OR VENDOR ON BEHALF OF THE SCHOLARSHIP RECIPIENTS. GRANTS TO RW-C FOR FELLOWSHIP ASSISTANCE: THE FOUNDATION TRANSFERS FUNDS TO RW-C FOR THEIR FELLOWSHIP ASSISTANCE PROGRAM. OTHER RESTRICTED GIFIT EXPENSES: FROM TIME TO TIME, THE FOUNDATION RECEIVES GIFTS RESTRICTED FOR SPECIFIC PURPOSES FOR RW-C. AT THE APPROPRIATE TIME, THE FOUNDATION TRANSFERS THESE FUNDS TO RW-C TO SATISFY THE RESTRICTED PURPOSES OF THOSE GIFTS. PART III, COLUMN (B): INDIVIDUAL PAYMENT FOR EACH RECIPIENT INDIVIDUAL PAYMENTS FOR EACH RECIPIENT X X X 0 0 0 0 0 0 0 0 0 STUART A BUNTING PRESIDENT/CEO/SECRETARY 0 278486 0 0 0 0 0 5260 0 28393 0 312139 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PRESENTED TO THE RAPPAHANNOCK WESTMINSTER-CANTERBURY ("RWC") BOARD OF TRUSTEES AS PART OF THE RWC FINANCE COMMITTEE PRESENTATION. A COPY IS ALSO PROVIDED TO ALL RWC AND FOUNDATION TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C WE HAVE AN ACTIVE CORPORATE COMPLIANCE PROGRAM AND OFFICER. THE PROGRAM CONTAINS A DETAILED PROTOCOL TO ADDRESS/INVESTIGATE/TAKE ACTION FOR SUSPECTED AND/OR ACTUAL CONFLICTS OF INTEREST. FURTHER, TRUSTEES ARE REQUIRED TO COMPLETE ON AN ANNUAL BASIS THE CONFLICT OF INTEREST STATEMENT. IN ADDITION, THE ORGANIZATION'S PERSONNEL POLICIES, APPLICABLE TO ALL PERSONNEL, CONTAIN A SECTION REGARDING CONFLICT OF INTEREST. THE PROTOCOL BOTH IN THE PERSONNEL POLICIES AND THE CORPORATE COMPLIANCE PROGRAM OUTLINE A PROCESS FOR REVIEW AND ACTION. SUBSTANTIATED CONFLICTS OF INTEREST WILL RESULT IN DISCIPLINE UP TO AND INCLUDING TERMINATION FOR EMPLOYEES AND SANCTIONS UP TO AND INCLUDING REMOVAL FOR TRUSTEES. FORM 990, PART VI, SECTION B, LINE 15 CEO EVALUATION THE CEO'S PERFORMANCE AND COMPENSATION IS REVIEWED BY THE BOARD OF TRUSTEES OF RW-C, A RELATED ORGANIZATION ON AN ANNUAL AND ON A PERIODIC BASIS, IF APPROPRIATE, AS DETERMINED BY THE BOARD CHAIRMAN. THE ANNUAL REVIEW ADDRESSES COMPENSATION AND PERFORMANCE. THE PROCESS FOR DETERMINING COMPENSATION IS: -COMPENSATION DATA FOR COMPARABLE VIRGINIA EXECUTIVES IS OBTAINED AND USED AS A BENCHMARK. -INTERNAL COMPRESSION ISSUES AND ACCOMPLISHMENTS ARE TAKEN INTO CONSIDERATION. -BUDGET AND BUDGET CONSTRAINTS ARE TAKEN INTO CONSIDERATION. -A WAGE INCREASE AND OR INCENTIVE ARE DETERMINED BY THE BOARD OF TRUSTEES. THE PROCESS FOR JUDGING PERFORMANCE IS: -THE BOARD CHAIR OBTAINS INPUT AND FEEDBACK FROM INDIVIDUAL TRUSTEES USING A QUESTIONNAIRE OR BY OBTAINING DIRECT FEEDBACK COVERING SUBJECTS SUCH AS ACCOMPLISHMENT OF GOALS AND OBJECTIVES, STRENGTHS, ITEMS OF CONCERN, AND OTHER RELEVANT MATTERS PERTAINING TO CEO PERFORMANCE. -THIS INFORMATION IS REVIEWED AND SUMMARIZED BY THE BOARD CHAIR, REVIEWED AND DISCUSSED WITH THE BOARD IN AN EXECUTIVE SESSION, AND REVIEWED AND DISCUSSED WITH THE CEO ALSO IN AN EXECUTIVE SESSION OF THE BOARD. -THROUGHOUT THE YEAR, THE BOARD CHAIR SHARES FEEDBACK RECEIVED BY THE INDIVIDUAL TRUSTEES AND OR THE COMMUNITY WITH THE CEO. THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES MET TO ASSESS THE PERFORMANCE OF STUART BUNTING AND TO REVIEW THE COMPENSATION PACKAGE FOR HIS POSITION. THE COMMITTEE, AS PART OF THE COMPENSATION REVIEW, EVALUATED THE PACKAGE AGAINST COMPARABLE INDUSTRY AND LOCAL EMPLOYERS AS WELL AS A REVIEW BY AN INDEPENDANT COMPENSATION CONSULTANT. THE EXECUTIVE COMMITTEE REPORTED THE PERFORMANCE REVIEW AND THE COMPENSATION ASSESSMENT TO THE BOARD OF TRUSTEES. OFFICER EVALUATION OFFICERS' PERFORMANCE AND COMPENSATION IS REVIEWED ANNUALLY BY THE CEO AND ON A PERIODIC BASIS, IF APPROPRIATE, AS DETERMINED BY THE CEO. THE ANNUAL REVIEW ADDRESSES COMPENSATION AND PERFORMANCE. THE PROCESS FOR DETERMINING COMPENSATION IS: -COMPENSATION DATA FOR COMPARABLE VIRGINIA EXECUTIVES IS OBTAINED AND USED AS A BENCHMARK. -INTERNAL COMPRESSION ISSUES AND ACCOMPLISHMENTS ARE TAKEN INTO CONSIDERATION. -BUDGET AND BUDGET CONSTRAINTS ARE TAKEN INTO CONSIDERATION. -A WAGE INCREASE AND OR INCENTIVE ARE DETERMINED BY THE CEO. THE PROCESS FOR JUDGING PERFORMANCE IS: -THE CEO CONDUCTS A FORMAL PERFORMANCE REVIEW USING THE ORGANIZATION'S PERFORMANCE REVIEW FORM AND BY PROVIDING SUPPORTING COMMENTARY COVERING SUBJECTS SUCH AS ACCOMPLISHMENT OF GOALS AND OBJECTIVES, STRENGTHS, ITEMS OF CONCERN, AND OTHER RELEVANT MATTERS PERTAINING TO OFFICER PERFORMANCE. -THIS INFORMATION IS REVIEWED AND DISCUSSED WITH THE OFFICER IN A PRIVATE SETTING. THE OFFICER IS ALSO AFFORDED THE OPPORTUNITY TO PROVIDE ANY VERBAL AND OR WRITTEN COMMENTS HE OR SHE FEELS IS APPROPRIATE TO THEIR FORMAL PERFORMANCE REVIEW. -THROUGHOUT THE YEAR, THE CEO SHARES FEEDBACK RECEIVED BY THE INDIVIDUAL TRUSTEES, THE COMMUNITY, AND STAFF WITH THE OFFICER. THESE PROCESSES DESCRIBED HERE WERE LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FINANCIAL STATEMENTS ARE FOUND IN THE DISCLOSURE STATEMENT. FORM 990, PART XI, LINE 9: NET ASSETS TRANSFERRED -1,000,000. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE ORGANIZATION HAS NOT CHANGED ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. FORM 990, PART VII, DESCRIPTION OF HOURS FOR RELATED ORGANIZATIONS: OFFICERS LISTED ON PART VII WORK AN AVERAGE OF 40 HOURS PER WEEK. THEIR TIME IS SHARED BETWEEN THE FILING ORGANIZATION AND THE RELATED ENTITY LISTED ON SCHEDULE R. RAPPAHANNOCK WESTMINSTER-CANTERBURY INC 132 LANCASTER DR IRVINGTON VA 22480 541150148 CONTINUING CARE RETIREMENT COMMUNITY VA 501(C)(3) 509(A)(2) RAPPAHANNOCK WESTMINSTER-CANTERBURY INC 0 0 1 0 1 0 0 0 0 0 0 0 1 1 1 1 1 0 1 0 RAPPAHANNOCK WESTMINSTER-CANTERBURY INC O 88900 FINANCIAL STATEMENTS RAPPAHANNOCK WESTMINSTER-CANTERBURY INC B 120585 CASH TRANSFER