2024-08-15T11:33:41-05:00 2023-09-30 560571159 BERNARD ROBINSON & COMPANY LLP PO BOX 19608 GREENSBORO NC 274199608 990 2022-10-01 311733044 PPRC SENIOR LIVING INC PPRC 3368884663 1701 WESTCHESTER DRIVE SUITE 400 HIGH POINT NC 27262 KIM S HOPPE CEO/PRESIDENT 3368884663 2024-08-15 1 0 JOHN M ROBINSON P01281319 3362944494 2024-08-15 2022 2024-08-08 14:25:15Z KIM S HOPPE 1701 WESTCHESTER DRIVE SUITE 400 HIGH POINT NC 27262 1240660 0 X WWW.PROVIDENCEPLACENC.COM X 2000 NC TO PASSIONATELY SERVE THE HOUSING AND CARE NEEDS OF SENIOR ADULTS WITH INNOVATIVE PROGRAMS AND SERVICES DELIVERED AT AN EXCEPTIONAL VALUE WHILE ENCOURAGING PERSONAL AND SPIRITUAL GROWTH AND DEVELOPMENT. 5 4 0 0 0 0 0 0 1147610 1224019 221 -19836 6661 15092 1154492 1219275 0 0 0 0 310660 337399 0 0 0 954577 968353 1265237 1305752 -110745 -86477 5704374 5515938 6434720 6332761 -730346 -816823 TO PASSIONATELY SERVE THE HOUSING AND CARE NEEDS OF SENIOR ADULTS WITH INNOVATIVE PROGRAMS AND SERVICES DELIVERED AT AN EXCEPTIONAL VALUE WHILE ENCOURAGING PERSONAL AND SPIRITUAL GROWTH AND DEVELOPMENT. 0 0 1024508 1239111 THE ORGANIZATION OPERATES AN 85 UNIT APARTMENT COMPLEX FOR THE ELDERLY LOCATED IN HIGH POINT, NORTH CAROLINA. THE PROJECT IS OPERATED UNDER SECTION 221(D)(3) OF THE NATIONAL HOUSING ACT AND IS REGULATED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) WITH RESPECT TO RENTAL CHARGES AND OPERATING METHODS. THE PROJECT NUMBER IS 053-35723-NP. 1024508 1 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 15 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 4 0 1 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X KIM S HOPPE 3368884560 1701 WESTCHESTER DRIVE SUITE 400 HIGH POINT NC 27262 TERRY MILLER PRESIDENT/CEO 3.00 13.00 X X 0 312351 1418 PENNY CATES CHAIRMAN 3.14 X X 0 0 0 ED WINSLOW SECRETARY 3.14 X X 0 0 0 CRAIG DUNN DIRECTOR 3.14 X 0 0 0 THOMAS NEILL DIRECTOR 3.14 X 0 0 0 BARRY YATES CFO 5.00 20.00 X 0 351031 44954 0 663382 46372 0 0 1 0 0 RENTAL REVENUE 623000 1211849 1211849 TENANT CHARGES 623000 12170 12170 1224019 1549 1549 21385 -21385 -21385 -21385 MISCELLANEOUS INCOME 623000 15092 15092 15092 1219275 1239111 0 -19836 77486 77486 222604 116434 106170 17744 6885 10859 19565 7591 11974 54507 54507 2350 2350 14000 14000 3691 3691 31589 31589 116246 116246 113 113 178539 178539 265418 265418 39313 39313 REPAIRS CONTRACTS 181854 181854 MIP EXPENSE 28170 28170 CABLE 20428 20428 OTHER RENTING EXPENSES 10800 10800 21335 17437 3898 1305752 1024508 281244 0 23833 64200 0 635 22180 23704 9187486 4537319 4769468 4650167 39167 37225 849726 740007 5704374 5515938 48879 127491 6332655 6198770 53186 6500 6434720 6332761 X -730346 -816823 -730346 -816823 5704374 5515938 -86477 0 X 0 1 X 1 1 1 X 1035439 1055280 1082674 1147610 1224019 5545022 1035439 1055280 1082674 1147610 1224019 5545022 0 0 0 5545022 1566 1511 443 221 1549 5290 1566 1511 443 221 1549 5290 5181 4860 71710 6661 15092 103504 1042186 1061651 1154827 1154492 1240660 5653816 0.98080 0.98130 0.00090 0.00080 X 400000 400000 8480444 4330992 4149452 220960 206327 14633 86082 86082 4650167 ESCROW ACCOUNTS 537088 OTHER RECEIVABLES 17295 REPLACEMENT RESERVE 179124 TENANT SECURITY DEPOSITS 6500 740007 TENANT SECURITY DEPOSITS 6500 6500 X 1240660 0 1240660 -21385 -21385 1219275 1327137 21385 21385 1305752 0 1305752 PART X, LINE 2: THE ORGANIZATION IS A NOT-FOR-PROFIT CORPORATION AND IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE ORGANIZATION IS NOT CLASSIFIED AS A PRIVATE FOUNDATION. IT IS THE ORGANIZATION'S POLICY TO EVALUATE ALL TAX POSITIONS TO IDENTIFY ANY THAT MAY BE CONSIDERED UNCERTAIN. ALL IDENTIFIED MATERIAL TAX POSITIONS ARE ASSESSED AND MEASURED BY A "MORE-LIKELY-THAN-NOT" THRESHOLD TO DETERMINE IF THE TAX POSITION IS UNCERTAIN AND WHAT, IF ANY, THE EFFECT OF THE UNCERTAIN TAX POSITION MAY HAVE ON THE FINANCIAL STATEMENTS. NO MATERIAL UNCERTAIN TAX POSITIONS WERE IDENTIFIED FOR 2023 AND 2022. PART XI, LINE 4B - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF ASSETS -21,385. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF ASSETS 21,385. 0 0 0 0 0 0 0 0 0 BARRY YATES CFO 0 351031 0 0 0 0 0 0 0 44954 0 395985 0 0 TERRY MILLER PRESIDENT/CEO 0 312351 0 0 0 0 0 0 0 1418 0 313769 0 0 FORM 990, PART VI, SECTION A, LINE 3 CERTAIN MANAGEMENT DUTIES WERE DELEGATED TO A RELATED 501(C)(3) ORGANIZATION: WESLEYAN ARMS, INC. (56-1012908). FORM 990, PART VI, SECTION B, LINE 11B PPRC SENIOR LIVING, INC. DOES NOT PROVIDE ITS FORM 990 TO THE BOARD FOR REVIEW PRIOR TO FILING THE 990 RETURN. THE FINANCIAL STATEMENTS ARE REVIEWED ON A MONTHLY BASIS BY THE BOARD. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD MEMBERS ARE ASKED TO DISCLOSE ALL POTENTIAL CONFLICTS OF INTEREST AND IN THE EVENT OF A CONFLICT OF INTEREST THAT MEMBER IS ASKED TO ABSTAIN FROM VOTING. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS FOR DETERMINING COMPENSATION FOR THE CEO AND CERTAIN TOP EMPLOYEES IS DETERMINED BY AN INDEPENDENT BOARD OF DIRECTORS. THE DIRECTORS ARE ALL LOCAL BUSINESS EXECUTIVES AND PROFESSIONALS. THE REVIEW AND ANALYSIS IS CONDUCTED IN A CLOSED SESSION WHERE THE INDIVIDUAL WHO IS THE SUBJECT OF THE REVIEW IS EXCLUDED FROM THE DISCUSSIONS SO AS TO ENCOURAGE FRANK AND FORTHRIGHT DEBATE. DURING THE DISCUSSIONS, COMPARABILITY DATA IS OFTEN IDENTIFIED. FOR EXAMPLE, ONE OF THE DIRECTORS IS A HEALTHCARE ATTORNEY AND IS AWARE OF EXECUTIVE SALARIES AT A NUMBER OF SIMILAR LONG TERM CARE ORGANIZATIONS THROUGHOUT THE STATE. NOTES AND MINUTES ARE TAKEN OF THE DISCUSSION AND THE DECISION AND THEN THE CONCLUSIONS OF THE BOARD ARE THEN PUT INTO PLACE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. WESLEYAN ARMS 1701 WESTCHESTER DRIVE HIGH POINT NC 27262 561012908 ASSISTED LIVING NC 501(C)(3) LINE 10 N/A 0 PPRC NURSING HOME INC 1795 WESTCHESTER DRIVE HIGH POINT NC 27262 311733046 NURSING HOME NC 501(C)(3) LINE 10 N/A 0 FIRST WESLEYAN MANAGEMENT 1701 WESTCHESTER DRIVE HIGH POINT NC 27262 912152420 MANAGEMENT COMPANY NC 501(C)(3) LINE 10 N/A 0 PROVIDENCE PLACE ASSISTED LIVING INC 1701 WESTCHESTER DRIVE HIGH POINT NC 27262 273481562 ASSISTED LIVING NC 501(C)(3) LINE 10 N/A 0 PPRC SENIOR LIVING II INC 1727 WESTCHESTER DRIVE HIGH POINT NC 27262 300113709 ASSISTED LIVING NC 501(C)(3) LINE 10 N/A 0 WESTCHESTER CHRISTIAN CENTER 1701 WESTCHESTER DRIVE HIGH POINT NC 27262 561963673 ACQUISITION, IMPROVEMENT, MAINTENANCE, LEASING OF PROPERTY NC N/A C 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 WESLEYAN ARMS INC M 96184 CASH PAID