2025-10-28T06:43:30-05:00 2024-12-31 390859910 BAKER TILLY ADVISORY GROUP LP 1570 FRUITVILLE PIKE SUITE 400 LANCASTER PA 17601 990 2024-01-01 223498690 SPRINGPOINT SENIOR LIVING INC SPRI 7324303650 4814 OUTLOOK DRIVE 201 WALL NJ 07753 GARRETT T MIDGETT III CHIEF FINANCIAL OFFICER 7324303650 2025-10-27 1 1 KERRI N BOGDA P00760402 7177404863 2025-10-27 X 2024 2025-03-06 01:10:19Z ANTHONY ARGONDIZZA 4814 OUTLOOK DRIVE 201 WALL NJ 07753 286516735 1 1 8048 X WWW.SPRINGPOINTSL.ORG X NJ TO INSPIRE OUR FAMILY WITH ENDLESS OPPORTUNITIES. 15 14 1969 809 0 0 11057382 12167374 217339712 236537822 6130443 8628917 2944533 1952950 237472070 259287063 283684 355997 0 0 92396673 100719661 0 0 1420203 161892900 166281008 254573257 267356666 -17101187 -8069603 798988436 803115490 925144454 926600210 -126156018 -123484720 X OUR MISSION - TO INSPIRE OUR FAMILY WITH ENDLESS OPPORTUNITIES.OUR VISION - TO BE THE PREMIER PROVIDER, OFFERING EXCEPTIONAL SERVICES AND INNOVATIVE PROGRAMS THAT EMPOWER THOSE WE SERVE AND THOSE WHO SERVE THEM TO EXPERIENCE THE BEST THAT LIFE HAS TO OFFER. 0 0 232919599 355997 236537822 EXPENSES INCURRED IN PROVIDING SENIOR HOUSING AND SERVICES, AFFORDABLE HOUSING, ASSISTED LIVING, SKILLED NURSING CARE, REHABILITATION, AND ALZHEIMER'S CARE. PLEASE REFER TO SCHEDULE O FOR THE ORGANIZATION'S COMMUNITY BENEFIT STATEMENT. 232919599 1 1 0 1 0 0 1 0 1 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 795 0 1969 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 15 14 0 0 0 0 0 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 NJ PA X X GARRETT T MIDGETT III 7324303650 4814 OUTLOOK DRIVE 201 WALL NJ 07753 ANTHONY ARGONDIZZA TRUSTEE; EX-OFFICIO-PRESIDENT & CEO 50.00 5.00 X X 0 1273736 411893 BARBARA KREIDER CHAIR - TRUSTEE / LPC BOARD CHAIR 1.00 1.00 X X 0 0 0 MARK OLEAR VICE CHAIR - TRUSTEE 1.00 1.00 X X 0 0 0 EDGAR M COSTER TRUSTEE 1.00 1.00 X 0 0 0 THOMAS WHELAN TRUSTEE 1.00 1.00 X 0 0 0 PATRICIA SCHAEFFER TRUSTEE 1.00 1.00 X 0 0 0 ELENA LADYGINA TRUSTEE 1.00 1.00 X 0 0 0 KRISTIN MCCARTHY TRUSTEE 1.00 1.00 X 0 0 0 JOHN CLARKE TRUSTEE / FOUNDATION BOARD - CHAIR 1.00 1.00 X 0 0 0 YULIA MURPHY TRUSTEE 1.00 1.00 X 0 0 0 LISA MCCRACKEN TRUSTEE 1.00 1.00 X 0 0 0 MICHAEL SERLUCO TRUSTEE 1.00 1.00 X 0 0 0 JESSICA L ISRAEL TRUSTEE 1.00 1.00 X 0 0 0 MAUREEN A SCHNEIDER TRUSTEE 1.00 1.00 X 0 0 0 ANJANA D PATEL TRUSTEE 1.00 1.00 X 0 0 0 BARUCH FALK TRUSTEE - LPCS 1.00 0.00 X 0 0 0 DAVID GERRIDGE TRUSTEE - LPCS 1.00 0.00 X 0 0 0 ANTHONY GLOCKER TRUSTEE - LPCS 1.00 0.00 X 0 0 0 AUDREY HAIMOWITZ TRUSTEE - LPCS 1.00 0.00 X 0 0 0 JULI TOWELL TRUSTEE - LPCS 1.00 0.00 X 0 0 0 DIANE BIRCH TRUSTEE - LPCS 1.00 0.00 X 0 0 0 JAMES MCMULLEN TRUSTEE - LPCS 1.00 0.00 X 0 0 0 EVAN QUARTON TRUSTEE - LPCS 1.00 0.00 X 0 0 0 TIMOTHY M FERGES TRUSTEE - FOUNDATION 1.00 0.00 X 0 0 0 VINCENT P CELENZA TRUSTEE - FOUNDATION 1.00 0.00 X 0 0 0 CHRISTIAN T KOERNER TRUSTEE - FOUNDATION 1.00 0.00 X 0 0 0 RENEE R VENEZIANO TRUSTEE - FOUNDATION 1.00 0.00 X 0 0 0 GLENN MEKLES TRUSTEE - FOUNDATION 1.00 0.00 X 0 0 0 CINDY DEEVY TRUSTEE - FOUNDATION 1.00 0.00 X 0 0 0 BRIDGET MURPHY TRUSTEE - FOUNDATION 1.00 0.00 X 0 0 0 CARL DELLI BOVI CHAIRMAN - TRUSTEE - EAST WINDSOR 0.00 0.00 X 0 0 0 MARY LEE KLEINKAUF VICE CHAIR - TRUSTEE - EAST WINDSOR 0.00 0.00 X 0 0 0 DAVID ROUSSELL TRUSTEE - EAST WINDSOR 0.00 0.00 X 0 0 0 RICHARD SCHROEDER TRUSTEE - EAST WINDSOR 0.00 0.00 X 0 0 0 DEBORAH L THOMAS TRUSTEE - EAST WINDSOR 0.00 0.00 X 0 0 0 TERRY GOLDSTEIN TRUSTEE - EAST WINDSOR 0.00 0.00 X 0 0 0 MARC PLATIZKY TRUSTEE - EAST WINDSOR 0.00 0.00 X 0 0 0 JANE FROTTON CHAIRWOMAN - TRUSTEE - PORTLAND POINTE 0.00 0.00 X 0 0 0 MARILYN SCHERFEN VICE-CHAIR, TRUSTEE - PORTLAND POINTE 0.00 0.00 X 0 0 0 JANE H OLCOTT TRUSTEE - PORTLAND POINTE 0.00 0.00 X 0 0 0 ROBERT SCHOEFFLING TRUSTEE - PORTLAND POINTE 0.00 0.00 X 0 0 0 RICHARD STRYKER TRUSTEE - PORTLAND POINTE 0.00 0.00 X 0 0 0 PAUL MAZZELLA TRUSTEE - PORTLAND POINTE 0.00 0.00 X 0 0 0 MURIEL J SMITH TRUSTEE - PORTLAND POINTE 0.00 0.00 X 0 0 0 ELLEN YUNG O'DWYER TRUSTEE - PORTLAND POINTE 0.00 0.00 X 0 0 0 ROY DELLOSSO TRUSTEE - PORTLAND POINTE 0.00 0.00 X 0 0 0 SHERLEY PENROSE CHAIRWOMAN - TRUSTEE - MIDDLESEX 0.00 0.00 X 0 0 0 NANCY LYNN AVERY VICE CHAIRWOMAN - TRUSTEE - MIDDLESEX 0.00 0.00 X 0 0 0 WILLIAM COYLE TRUSTEE - MIDDLESEX 0.00 0.00 X 0 0 0 LOUISE CREDE TRUSTEE - MIDDLESEX 0.00 0.00 X 0 0 0 DENISE BAGONYI TRUSTEE - MIDDLESEX 0.00 0.00 X 0 0 0 WILLIAM SAN PHILLIPS TRUSTEE - MIDDLESEX 0.00 0.00 X 0 0 0 PAT REPENN TRUSTEE - MIDDLESEX 0.00 0.00 X 0 0 0 TERRY FORMAN CHAIRPERSON - TRUSTEE - WEST WINDSOR 0.00 0.00 X 0 0 0 RAYMOND J RYAN VICE CHAIRPERSON - TRUSTEE - WEST WINDSOR 0.00 0.00 X 0 0 0 MARTIN LIGHTMAN TRUSTEE - WEST WINDSOR 0.00 0.00 X 0 0 0 ADALIN BALL TRUSTEE - WEST WINDSOR 0.00 0.00 X 0 0 0 TIMOTHY M LYNCH MPA MO TRUSTEE - WEST WINDSOR 0.00 0.00 X 0 0 0 GARRETT I MIDGETT SENIOR VP/CFO, TREASURER 50.00 5.00 X 0 503820 92897 MAUREEN E CAFFERTY ESQ SR. VP/GENERAL COUNSEL, SECRETARY 50.00 5.00 X 0 489654 93061 DAVID WOODWARD SENIOR VP/COO, ASSISTANT TREASURER 50.00 5.00 X 0 495197 75484 JAMES TAVORMINA VP OF SALES 50.00 5.00 X 0 241487 37795 JULIA ZAUNER VP OF MARKETING (UNTIL 10/24) 50.00 5.00 X 0 195077 13088 MARYBETH KOPEC VP FINANCE 50.00 5.00 X 0 300402 33530 ODESSA SADSAD VP HEALTH SERVICES 50.00 5.00 X 0 266106 34200 JOHN MARTIN VP INFORMATION TECHNOLOGY 50.00 5.00 X 0 286492 1426 SANDI KO VP OF HUMAN RESOURCES 50.00 5.00 X 0 262670 9500 MICHAEL OAKES SR. VP FOUNDATION 50.00 5.00 X 305331 0 18119 SUSAN LIPPY LPC EXECUTIVE DIRECTOR 50.00 5.00 X 0 246524 16970 ANNE HAY LPC EXECUTIVE DIRECTOR 50.00 5.00 X 0 246611 7014 MICHAEL GENTILE LPC EXECUTIVE DIRECTOR 50.00 5.00 X 0 235809 4719 RICHARD WHITEMAN LPC EXECUTIVE DIRECTOR 50.00 5.00 X 0 287844 39550 NOEMI VALENCIA REGISTERED NURSE 50.00 5.00 X 0 250505 44851 305331 5581934 934097 91 0 1 0 MORRISON MGMT SPECIALISTS INC DBA COMP 400 NORTHRIDGE RD SANDY SPRINGS GA 30350 DINING DEPARTMENT OPERATIONS 27504121 AC DRYWALL AND PAINTING LLC DBA AC CONS 147 ROUTE 46 NETCONG NJ 07857 CONSTRUCTION 6520283 YES WE DO LLC 21 OAKLAND DRIVE JACKSON NJ 08527 CONSTRUCTION 5332800 TWOMAGNETS INC DBA CLIPBOARD HEALTH P O BOX 103125 PASADENDA CA 911893125 CONTRACTED NURSING STAFF 2307443 PREMIER CUSTOM HOMES LLC 346 AUDREY LANE SMYRNA DE 19977 CONSTRUCTION 1463380 63 293690 8061622 3812062 12167374 NET PROGRAM SERVICE REVENUE 541900 235643132 235643132 MANAGEMENT REVENUE 561000 785028 785028 FIN. SERVICES & CHARGEBACK REV. 541900 109662 109662 236537822 4949144 4949144 686718 200249 486469 486469 486469 30560720 26880947 3679773 3679773 3679773 58986 293690 148476 -89490 -89490 DEBT FORGIVENESS 900099 778680 778680 INSURANCE REIMBURSEMENT 900099 425351 425351 SOLAR RENEWABLE ENERGY CREDITS 900099 240782 240782 111158 111158 1555971 259287063 236537822 0 10581867 X 2073 2073 353924 353924 323450 323450 83911284 74838234 8555823 517227 1122676 938631 145970 38075 9075277 8056543 979404 39330 6286974 5573593 656686 56695 1286601 1271386 15215 801029 801029 164266 164266 110638 110638 38119793 30143553 7775134 201106 3181309 3160610 20699 4748689 3830295 858299 60095 19826844 19824609 2235 238330 168841 44540 24949 308883 154138 151429 3316 12458235 12458235 40851859 40851859 5101243 5101243 SHARED SERVICES 13750810 3692516 10058294 FOOD EXPENSES 8330066 8330066 REPAIRS & MAINTENANCE 4844256 4829722 14534 MEDICAL SUPPLIES 2762499 2762499 9395658 7848415 1427197 120046 267356666 232919599 33016864 1420203 19770 19770 46139419 47312865 18621738 19378230 5581313 6153934 4424470 7351744 902349113 459730316 458195670 442618797 173923816 184201235 67000812 66959113 25081428 29119802 798988436 803115490 18427774 20219232 145320923 164430618 167471697 177838340 36596 31834 141039962 116164008 452847502 447916178 925144454 926600210 X -139980968 -139447198 13824950 15962478 -126156018 -123484720 798988436 803115490 X -8069603 8469543 2271358 X 0 1 X 1 0 X 15497608 14955366 10502109 11057382 12167374 64179839 180785100 182245919 198821721 217339712 236537822 1015730274 9603 11598 21201 196282708 197201285 209323830 228406697 248716794 1079931314 41397 52507 48402 47759 85598 275663 0 41397 52507 48402 47759 85598 275663 1079655651 2800524 3651533 2028015 5061133 5635862 19177067 2800524 3651533 2028015 5061133 5635862 19177067 2120779 1124235 883369 2403982 1603359 8135724 201204011 201977053 212235214 235871812 255956015 1107244105 0.97510 0.97670 0.01730 0.02000 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: SOLAR RENEWABLE ENERGY CREDITS - 2020 AMOUNT: $ 220,489. 2021 AMOUNT: $ 237,537. 2022 AMOUNT: $ 241,085. 2023 AMOUNT: $ 226,329. 2024 AMOUNT: $ 240,782. INSURANCE REIMBURSEMENTS - 2020 AMOUNT: $ 35,709. 2021 AMOUNT: $ 185,513. 2022 AMOUNT: $ 51,667. 2024 AMOUNT: $ 425,351. MISCELLANEOUS REVENUE - 2020 AMOUNT: $ 115,940. 2021 AMOUNT: $ 34,234. 2022 AMOUNT: $ 49,255. 2023 AMOUNT: $ 45,476. 2024 AMOUNT: $ 18,384. VENDOR REIMBURSEMENT - 2020 AMOUNT: $ 44,743. 2021 AMOUNT: $ 1,142. FORGIVENESS OF DEBT - 2020 AMOUNT: $ 1,557,460. 2023 AMOUNT: $ 2,000,000. 2024 AMOUNT: $ 778,680. UTILITY CHARGES - 2020 AMOUNT: $ 29,004. 2021 AMOUNT: $ 31,237. 2022 AMOUNT: $ 25,415. 2023 AMOUNT: $ 36,235. 2024 AMOUNT: $ 38,256. REIMBURSEMENTS RE SALE OF PROP - 2020 AMOUNT: $ 80,174. CONSTRUCTION LITIGATION SETTLEMENT - 2021 AMOUNT: $ 525,000. STORAGE FEES - 2021 AMOUNT: $ 30,594. 2022 AMOUNT: $ 10,140. 2023 AMOUNT: $ 15,790. 2024 AMOUNT: $ 10,967. REIMBURSEMENTS - 2021 AMOUNT: $ 26,915. 2022 AMOUNT: $ 64,665. 2023 AMOUNT: $ 15,871. 2024 AMOUNT: $ 12,738. REFUND - 2021 AMOUNT: $ 12,888. GROSS NON-CHARITABLE FUNDRAISING INCOME - 2020 AMOUNT: $ 37,260. 2021 AMOUNT: $ 39,175. 2022 AMOUNT: $ 55,300. 2023 AMOUNT: $ 58,791. 2024 AMOUNT: $ 58,986. PROPERTY USE FEE - 2022 AMOUNT: $ 374,717. PATIO ENCLOSURES - 2022 AMOUNT: $ 11,125. 2023 AMOUNT: $ 5,490. SWIMMING SCHOOL - 2024 AMOUNT: $ 19,215. SCHEDULE A, PART III: THE PUBLIC CHARITY STATUS REFLECTED ON SCHEDULE A, PART I IS FOR SPRINGPOINT SENIOR LIVING, INC THE PARENT, SPRINGPOINT SENIOR LIVING, INC., FILES SEPARATELY WHILE THE GROUP RETURN IS COMPOSED OF SEVERAL SUBSIDIARIES. EACH OF THE FOLLOWING SUBORDINATE ORGANIZATIONS HAVE THE SAME PUBLIC CHARITY STATUS INCLUDED IN THE GROUP EXEMPTION REFLECTED ON SCHEDULE A, PART I, LINE 10; INTERNAL REVENUE CODE SECTION 509(A) (2); AN ORGANIZATION THAT NORMALLY RECEIVES (1) MORE THAN 33 1/3% OF ITS SUPPORT FROM CONTRIBUTIONS, MEMBERSHIP FEES, AND GROSS RECEIPTS FROM ACTIVITIES RELATED TO ITS EXEMPT FUNCTIONS - SUBJECT TO CERTAIN EXCEPTIONS, AND (2) NO MORE THAN 33 1/3% OF ITS SUPPORT FROM GROSS INVESTMENT INCOME AND UNRELATED BUSINESS TAXABLE INCOME (LESS SECTION 511 TAX) FROM BUSINESSES ACQUIRED BY THE ORGANIZATION AFTER JUNE 30, 1975: SPRINGPOINT AT CRESTWOOD, INC. SPRINGPOINT AT THE ATRIUM, INC. SPRINGPOINT AT LEWES, INC. SPRINGPOINT AT MEADOW LAKES, INC. SPRINGPOINT AT MONROE VILLAGE, INC. SPRINGPOINT AT MONTGOMERY, INC. MARCUS L. WARD HOME SPRINGPOINT AT DENVILLE, INC. SPRINGPOINT AT HALF ACRE ROAD, INC. SPRINGPOINT AT HADDONFIELD, INC. PRESBYTERIAN HOME AT DOVER, INC. PRESBYTERIAN HOME AT GALLOWAY, INC. PRESBYTERIAN HOME AT HOWELL, INC. PRESBYTERIAN HOME AT WEST WINDSOR, INC. PRESBYTERIAN HOME AT FRANKLIN, INC. PRESBYTERIAN HOME AT ATLANTIC HIGHLANDS, INC. THE PRESBYTERIAN HOME AT STAFFORD, INC. MIDDLESEX BOROUGH SENIOR CITIZENS HOUSING CORPORATION PRESBYTERIAN HOME AT EAST WINDSOR, INC. THE PRESBYTERIAN HOME AT MANCHESTER, INC. PRESBYTERIAN HOME OF PLAINFIELD, INC. PRESBYTERIAN HOME AT WALL, INC. INTEGRATED MANAGEMENT SERVICES, INC. SPRINGPOINT REALTY, INC. SENIOR NET, INC. SPRINGPOINT AT HOME, INC. CADBURY AT CHERRY HILL, INC. SPRINGPOINT AT MANALAPAN, INC. SPRINGPOINT CHOICE, INC. SPRINGPOINT AT TINTON FALLS, INC. IN ADDITION TO THE ABOVE, SPRINGPOINT FOUNDATION, INC.'S PUBLIC CHARITY STATUS IS REFLECTED ON SCHEDULE A, PART I, LINE 7; INTERNAL REVENUE CODE SECTION 509(A)(1); AN ORGANIZATION THAT NORMALLY RECEIVES A SUBSTANTIAL PART OF ITS SUPPORT FROM A GOVERNMENTAL UNIT OR FROM THE GENERAL PUBLIC DESCRIBED IN SECTION 170(B)(1)(A)(VI). THE PUBLIC SUPPORT PERCENTAGE FOR 2024 IS 67.18%. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 1 164266 0 164266 0 PART II-B, LINE 1: SPRINGPOINT SENIOR LIVING, INC., THE PARENT ENTITY OF ALL SUBORDINATES INCLUDED IN THIS GROUP FORM 990, IS A MEMBER OF SEVERAL TRADE ORGANIZATIONS. A PORTION OF THE DUES PAID TO THESE TRADE ORGANIZATIONS IS ALLOCATED TO LOBBYING EFFORTS PERFORMED BY THE TRADE ORGANIZATIONS ON BEHALF OF SPRINGPOINT SENIOR LIVING, INC. AND SUBORDINATES. X X 2 32.00 1 0 0 1 X 13824950 2876011 1310165 2048648 15962478 11677236 2126192 1796007 1774485 13824950 13790847 2265256 -2179991 2198876 11677236 11793485 1773106 1419570 1195314 13790847 11540525 1549589 766397 2063026 11793485 0.00000 0.71000 0.29000 0 0 52480241 52480241 787461675 428743549 358718126 60337127 30982114 29355013 2070070 4653 2065417 442618797 DUE TO AFFILIATES 27915726 CAPITAL ADVANCES 80035527 NOTES PAYABLE TO AFFILIATES 25444295 RESIDENTS DEPOSITS 4717275 OTHER LIABILITIES 5840210 REFUNDABLE ENTRANCE FEES 301618350 LIABILITIES OF SPLIT INTEREST AGREEMENTS 2344795 447916178 X PART II, LINE 9: SPRINGPOINT DOES NOT REPORT THE CONSERVATION EASEMENTS ON ITS FINANCIAL STATEMENTS. PART IV, LINE 2B: FOR CERTAIN MEDICAID RESIDENTS, SPRINGPOINT IS THE RECEIVER OF THEIR SOCIAL SECURITY CHECK. THE SOCIAL SECURITY CHECK INCLUDES AN AMOUNT EACH MONTH THAT THE RESIDENT IS ALLOWED TO USE FOR PERSONAL NEEDS. WE HOLD THAT AMOUNT FOR THE RESIDENT AND DISBURSE THE FUNDS TO THE RESIDENTS AT THEIR REQUEST TO PURCHASE PERSONAL ITEMS. PART X, LINE 2: THE OBLIGATED GROUP ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES USING A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD IS MET. MANAGEMENT DETERMINED THERE WERE NO TAX UNCERTAINTIES THAT MET THE RECOGNITION THRESHOLD IN 2024 AND 2023 GOLF OUTING 352676 293690 58986 73258 58986 16232 352676 293690 58986 73258 58986 16232 148476 -89490 1 RESIDENT ASSISTANCE 9 353924 PART I, LINE 2: RESIDENTS WHO MAY REQUIRE ASSISTANCE MUST COMPLETE AN APPLICATION WITH CERTAIN FINANCIAL INFORMATION. THE FINANCE DEPARTMENT REVIEWS THE APPLICATION AND IF THE REQUIREMENTS OF THE POLICY ARE MET REGARDING CERTAIN FINANCIAL CRITERIA AND THE MANNER IN WHICH ASSETS HAVE BEEN DEPLETED, THE APPLICATION FOR ASSISTANCE IS APPROVED. GRANTS ARE MONITORED BY THE ORGANIZATION'S FINANCE PERSONNEL THROUGH THE UTILIZATION OF COST CENTERS AND OTHER INFORMATION INCLUDING WRITTEN DOCUMENTATION AND RECEIPTS. 0 1 0 0 0 0 0 1 0 ANTHONY ARGONDIZZA TRUSTEE; EX-OFFICIO-PRESIDENT & CEO 0 700305 0 211980 0 361451 0 380127 0 31766 0 1685629 0 345739 GARRETT I MIDGETT SENIOR VP/CFO, TREASURER 0 369996 0 83127 0 50697 0 68619 0 24278 0 596717 0 44303 MAUREEN E CAFFERTY ESQ SR. VP/GENERAL COUNSEL, SECRETARY 0 364048 0 82428 0 43178 0 69581 0 23480 0 582715 0 31668 DAVID WOODWARD SENIOR VP/COO, ASSISTANT TREASURER 0 372367 0 82740 0 40090 0 63883 0 11601 0 570681 0 33701 MARYBETH KOPEC VP FINANCE 0 235452 0 58909 0 6041 0 8881 0 24649 0 333932 0 0 RICHARD WHITEMAN LPC EXECUTIVE DIRECTOR 0 245040 0 40959 0 1845 0 8762 0 30788 0 327394 0 0 MICHAEL OAKES SR. VP FOUNDATION 257336 0 45942 0 2053 0 6309 0 11810 0 323450 0 0 0 ODESSA SADSAD VP HEALTH SERVICES 0 224252 0 40121 0 1733 0 8247 0 25953 0 300306 0 0 NOEMI VALENCIA REGISTERED NURSE 0 237185 0 13183 0 137 0 7952 0 36899 0 295356 0 0 JOHN MARTIN VP INFORMATION TECHNOLOGY 0 246923 0 37085 0 2484 0 1426 0 0 0 287918 0 0 JAMES TAVORMINA VP OF SALES 0 202734 0 37567 0 1186 0 0 0 37795 0 279282 0 0 SANDI KO VP OF HUMAN RESOURCES 0 219858 0 41161 0 1651 0 6300 0 3200 0 272170 0 0 SUSAN LIPPY LPC EXECUTIVE DIRECTOR 0 206981 0 36063 0 3480 0 5879 0 11091 0 263494 0 0 ANNE HAY LPC EXECUTIVE DIRECTOR 0 209568 0 33563 0 3480 0 7014 0 0 0 253625 0 0 MICHAEL GENTILE LPC EXECUTIVE DIRECTOR 0 196348 0 36218 0 3243 0 4672 0 47 0 240528 0 0 JULIA ZAUNER VP OF MARKETING (UNTIL 10/24) 0 158844 0 35545 0 688 0 0 0 13088 0 208165 0 0 PART I, LINE 3 THE PARENT COMPANY OF SPRINGPOINT SENIOR LIVING, INC. USES THE FOLLOWING METHODS FOR ESTABLISHING COMPENSATION: A COMPENSATION COMMITTEE, AN INDEPENDENT COMPENSATION CONSULTANT, A COMPENSATION SURVEY AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE. PART I, LINE 4B THE DEFERRED COMPENSATION AMOUNT IN COLUMN C INCLUDES UNVESTED BENEFITS IN A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN WHICH ARE SUBJECT TO A SUBSTANTIAL RISK OF COMPLETE FORFEITURE FOR THE FOLLOWING INDIVIDUALS: -ANTHONY ARGONDIZZA, $367,432, GARRETT T. MIDGETT III, $56,646, MAUREEN E. CAFFERTY, ESQ., $56,169, AND DAVID WOODWARD, $56,383. ACCORDINGLY, THE INDIVIDUALS MAY NEVER ACTUALLY RECEIVE THESE UNVESTED BENEFIT AMOUNTS. THE AMOUNTS OUTLINED HEREIN WERE NOT INCLUDED IN THE FOLLOWING INDIVIDUALS' 2024 FORMS W-2, BOX 5 AS TAXABLE MEDICARE WAGES. CERTAIN FORMERLY NONTAXABLE DEFERRED PAYMENTS VESTED AND BECAME TAXABLE DURING 2024. THESE AMOUNTS ARE REPRESENTED IN COLUMN F. PART I, LINE 7 CERTAIN INDIVIDUALS INCLUDED IN SCHEDULE J, PART II RECEIVED A BONUS DURING CALENDAR YEAR 2024. THESE AMOUNTS WERE INCLUDED IN COLUMN B(II) HEREIN AND IN EACH INDIVIDUAL'S 2024 FORM W-2, BOX 5, AS TAXABLE MEDICARE WAGES. PLEASE REFER TO THIS SECTION OF THE FORM 990, SCHEDULE J FOR THIS INFORMATION BY PERSON BY AMOUNT. BONUS AMOUNTS FOR SENIOR MANAGEMENT ARE DETERMINED BASED ON PERFORMANCE MEASURED AGAINST CERTAIN OPERATING AND FINANCIAL METRICS WHICH ARE REVIEWED AND APPROVED ANNUALLY BY THE COMPENSATION COMMITTEE OF THE SPRINGPOINT SENIOR LIVING BOARD OF TRUSTEES. A NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY 222045817 2014-09-29 31285000 REFUNDING OF 2004 NJEDA BONDS 0 0 0 B SUSSEX COUNTY DELAWARE 516000161 86926RCA6 2016-10-27 19301881 ADVANCED REFINANCING OF 2006 SERIES BONDS 0 0 0 C NATIONAL FINANCE AUTHORITY (NEW HAMPSHIRE) 521304598 63608SAM4 2021-02-03 116997641 REFUNDING OF 2015 AND 2016 BONDS AND CAPITAL EXPENDITURES 0 0 0 D NATIONAL FINANCE AUTHORITY REVENUE BOND (SPRINGPOINT AT MANALAPAN PROJECT) 521304598 2024-11-14 13387500 ACQUISITION OF AN APPROXIMATELY 55,000 SQ FT MEMORY CARE FACILITY 0 0 0 A 4324000 31285000 285875 30199125 2014 1 0 1 1 B 4350000 19301881 3783406 257644 17632987 2016 0 1 1 1 C 5920628 107140468 1889835 17927828 97179978 2021 1 0 1 1 D 13387500 13387500 2024 0 0 1 1 A 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 C 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 D 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 1 1 SUN TRUST 15.000000000000 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 C 0 1 0 0 0 0 0 0 1 D 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 D 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 09/29/2019 ISSUER NAME: SUSSEX COUNTY, DELAWARE DATE THE REBATE COMPUTATION WAS PERFORMED: 10/27/2021 SCHEDULE K, PART I: THE TAX-EXEMPT BOND ISSUANCE IN THE AMOUNT OF $31,285,000 REFLECTED IN SCHEDULE K, PART I, LINE D WAS ISSUED ON BEHALF OF MARCUS L. WARD HOME. THE TOTAL PROCEEDS FROM THE BOND ISSUANCE WERE USED TO (A) ADVANCE REFUND A PRIOR ISSUE AND (B) TO FINANCE CERTAIN COSTS OF ISSUANCE OF THE BOND. THE TAX-EXEMPT BOND ISSUANCE IN THE AMOUNT OF $19,301,881 IN SCHEDULE K, LINE B WAS ISSUED ON BEHALF OF SPRINGPOINT AT LEWES. THE TOTAL PROCEEDS FROM THE BOND ISSUANCE WERE USED TO (A) ADVANCE REFUND A PRIOR ISSUE, (B) FUND A BOND RESERVE, AND (C) FINANCE CERTAIN COSTS OF ISSUANCE OF THE BOND. THE TAX-EXEMPT BOND ISSUE IN THE AMOUNT OF $23,000,000 IN SCHEDULE K, PART I (PAGE 2), LINE A WAS ISSUED ON BEHALF OF SPRINGPOINT AT HALF ACRE ROAD. THE TOTAL BOND PROCEEDS WERE USED TO (A) ADVANCE REFUND A PRIOR ISSUE, (B) FUND A BOND RESERVE AND (C) FINANCE CERTAIN COSTS OF ISSUANCE OF THE BOND. THE TAX-EXEMPT BOND ISSUANCE IN THE AMOUNT OF $114,820,000 REFLECTED IN SCHEDULE K, PART I, LINE A WAS ISSUED ON BEHALF OF THE SPRINGPOINT SENIOR LIVING OBLIGATED GROUP "THE OBLIGATED GROUP". SPRINGPOINT SENIOR LIVING, INC. IS A MEMBER OF THE OBLIGATED GROUP AND IS THE TAX-EXEMPT PARENT. THE TOTAL PROCEEDS FROM THE BOND ISSUANCE WERE ALLOCATED TO MEMBERS OF THE OBLIGATED GROUP BASED ON THEIR DIRECT USE OF THE PROCEEDS AND WERE USED TO (A) CURRENTLY REFUND A PRIOR ISSUE AND (B) TO FINANCE CERTAIN COSTS OF ISSUANCE OF THE BOND. THE TAX-EXEMPT BOND ISSUES IN THE AMOUNT OF $13,387,500 IN SCHEDULE K, PART I, LINE D WAS ISSUED ON BEHALF OF SPRINGPOINT AT MANALAPAN. THE TOTAL BOND PROCEEDS WERE USED TO (A) FINANCE THE PURCHASE OF AN ASSISTED LIVING FACILITY, (B) FUND A BOND RESERVE AND (C) FINANCE CERTAIN COSTS OF ISSUANCE OF THE BOND. A PUBLIC FINANCE AUTHORITY 273866124 74447QAA6 2023-05-17 23000000 REFUNDING OF 2015 BONDS 0 0 0 A 23000000 845454 22154546 2023 0 1 1 1 A 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 A 1 FORM 990, PART III, LINE 4A: BACKGROUND SPRINGPOINT IS A NATIONALLY RECOGNIZED NONPROFIT PROVIDER OF SENIOR HOUSING AND CARE, FOUNDED IN 1916. WE ARE A COLLECTION OF EIGHT LIFE PLAN COMMUNITIES, ONE SKILLED NURSING COMMUNITY, ONE ASSISTED LIVING COMMUNITY, AND 19 AFFORDABLE HOUSING COMMUNITIES LOCATED THROUGHOUT NEW JERSEY AND DELAWARE. EACH HAS ITS OWN UNIQUE FLAVOR AND FLAIR. WE OFFER HOMECARE AND CARE MANAGEMENT SERVICES THROUGH SPRINGPOINT AT HOME AND ADDITIONAL SECURITY THROUGH SPRINGPOINT CHOICE, A CONTINUING CARE AT HOME PROGRAM, WHICH HELPS PEOPLE AGE IN PLACE IN THEIR HOME. THROUGH OUR SPRINGPOINT FOUNDATION, WE ENCOURAGE CHARITABLE GIVING TO SUPPORT PROGRAMS THAT MAKE A MEANINGFUL DIFFERENCE IN THE LIVES OF SENIORS. ULTIMATELY, THE GOAL OF ALL OF OUR PROGRAMS AND SERVICES IS TO KEEP SENIORS CONNECTED AND ENGAGED IN THE COMMUNITY. SPRINGPOINT SERVES OVER 4,000 SENIORS AND EMPLOYS APPROXIMATELY 1,700 INDIVIDUALS. "RESIDENTS-FIRST" PHILOSOPHY AT SPRINGPOINT, OUR "RESIDENTS- FIRST" PHILOSOPHY GUIDES US IN PROMOTING AND EXPANDING OUR MISSION OF OFFERING HIGH-QUALITY HOUSING AND SERVICES AND AN OUTSTANDING QUALITY OF LIFE FOR EVERY RESIDENT, EVERYDAY. SPRINGPOINT STATEMENT FOR COMMUNITY BENEFITS SPRINGPOINT SENIOR LIVING VALUES SPRINGPOINT IS GUIDED BY THE FOLLOWING VALUES IN FURTHERING ITS CHARITABLE TAX-EXEMPT PURPOSES: 1. RESPECT: WE RECOGNIZE THE VALUE AND DIGNITY OF EVERY PERSON 2. COMMITMENT: WE ARE ACCOUNTABLE TO THE GREATER COMMUNITY 3. COMPASSION: WE SEEK TO UNDERSTAND AND EMPATHIZE WITH OTHERS 4. SERVICE: WE STRIVE TO EXCEED EXPECTATIONS 5. EXCELLENCE: WE STRIVE FOR THE HIGHEST QUALITY IN ALL THAT WE DO 6. INTEGRITY: WE ARE HONEST, RESPONSIBLE AND ETHICAL 7. INNOVATION: WE AIM TO CONTINOUSLY IMPROVE OUR SERVICES AND ORGANIZATION MISSION TO INSPIRE OUR FAMILY WITH ENDLESS OPPORTUNITIES VISION TO BE THE PREMIER PROVIDER, OFFERING EXCEPTIONAL SERVICES AND INNOVATIVE PROGRAMS THAT EMPOWER THOSE WE SERVE AND THOSE WHO SERVE THEM TO EXPERIENCE THE BEST THAT LIFE HAS TO OFFER. DIVERSITY, EQUITY & INCLUSION STATEMENT IN SUPPORT OF OUR MISSION TO INSPIRE THE SPRINGPOINT FAMILY WITH ENDLESS OPPORTUNITIES, WE ARE FULLY COMMITTED TO EMBRACING DIVERSITY, EQUITY, AND INCLUSION. TO VALUE AND EMPOWER THE LIVES WE TOUCH, SPRINGPOINT FOSTERS A CULTURE THAT RESPECTS THE UNIQUE QUALITIES, LIFE EXPERIENCES, AND WISDOM OF EACH INDIVIDUAL. IT IS THROUGH THIS DIVERSE AND INCLUSIVE ENVIRONMENT THAT WE ARE MORE ENGAGED, CREATIVE, COLLABORATIVE AND INNOVATIVE SO ALL MEMBERS OF OUR SPRINGPOINT FAMILY CAN EXPERIENCE THE BEST THAT LIFE HAS TO OFFER. SPRINGPOINT SENIOR LIVING COMMUNITIES FULL-SERVICE SENIOR LIVING SPRINGPOINT FULL SERVICE SENIOR LIVING COMMUNITIES OFFER FLEXIBLE ACCOMMODATIONS DESIGNED TO MEET HEALTH AND HOUSING NEEDS THAT CAN CHANGE OVER TIME. THE FULL-SERVICE CARE CONTINUUM ENCOMPASSES INDEPENDENT LIVING, ASSISTED LIVING, MEMORY AND SKILLED NURSING CARE. THESE COMMUNITIES ALSO OFFER HOUSEKEEPING, MEALS, AND ACTIVITIES. SERVICES OFFERED BY SPRINGPOINT FULL-SERVICE SENIOR LIVING COMMUNITIES INCLUDE: - RESTAURANT-STYLE AND CASUAL DINING - ACCESS TO HEALTH CARE - FITNESS AND LIVWELL CENTERS WITH INDOOR SWIMMING POOL (EXCEPT FOR THE ATRIUM AT NAVESINK HARBOR) - SALON - HOUSEKEEPING SERVICES - CONCIERGE SERVICES FULL-SERVICE SENIOR LIVING COMMUNITY SNAPSHOT CRESTWOOD MANOR, WHITING, NJ CRESTWOOD LOCATED ON A 40-ACRE CAMPUS IN OCEAN COUNTY OFFERS 257 ONE- AND TWO-BEDROOM APARTMENTS, 32 EXPANDED SERVICES PROGRAM UNITS, AND ACCESS TO SKILLED NURSING CARE SERVICES. MEADOW LAKES, EAST WINDSOR, NJ MEADOW LAKES LOCATED ON A 103-ACRE CAMPUS IN MERCER COUNTY OFFERS 243 INDEPENDENT LIVING APARTMENTS, 15 COTTAGES, 44 ASSISTED LIVING SUITES AND OFFERS ACCESS TO LONG TERM CARE SERVICES. MONROE VILLAGE, MONROE TOWNSHIP, NJ MONROE VILLAGE LOCATED IN A RESIDENTIAL SETTING IN MIDDLESEX COUNTY OFFERS 255 INDEPENDENT LIVING APARTMENTS AND 28 ASSISTED LIVING SUITES. STONEBRIDGE AT MONTGOMERY, SKILLMAN, NJ STONEBRIDGE LOCATED ON 40 ACRES IN SOMERSET COUNTY OFFERS 184 INDEPENDENT LIVING APARTMENTS, 24 COTTAGES, 61 ASSISTED LIVING APARTMENTS AND ACCESS TO LONG TERM CARE SERVICES. THE ATRIUM AT NAVESINK HARBOR, RED BANK, NJ THE ATRIUM AT NAVESINK HARBOR OFFERS 140 INDEPENDENT LIVING UNITS, AND ACCESS TO LONG TERM CARE SERVICES. THE MOORINGS AT LEWES, LEWES, DE THE MOORINGS AT LEWES OFFERS 132 INDEPENDENT LIVING APARTMENTS, 45 ASSISTED LIVING SUITES AND ACCESS TO SKILLED NURSING SERVICES. THE OAKS AT DENVILLE, DENVILLE, NJ THE OAKS AT DENVILLE OFFERS 272 INDEPENDENT LIVING UNITS, 33 ASSISTED LIVING APARTMENTS AND ACCESS TO TERM CARE SERVICES. WINCHESTER GARDENS, MAPLEWOOD, NJ WINCHESTER GARDENS OFFERS 163 INDEPENDENT LIVING APARTMENTS AND 39 VILLAS, 66 ASSISTED LIVING SUITES AND ACCESS TO LONG TERM CARE SERVICES. SKILLED NURSING VILLAGE POINT, MONROE, NJ VILLAGE POINT IS A STATE-OF-THE-ART 87,000 SQUARE-FOOT HEALTHCARE CENTER SITUATED ON A 5-ACRE SITE WITHIN THE MONROE VILLAGE CAMPUS, OFFERING 120 PRIVATE AND SEMI-PRIVATE BEDS. THERE ARE FOUR DISTINCT NEIGHBORHOODS DESIGNED TO REFLECT SPECIFIC CARE NEEDS INCLUDING: SUB-ACUTE CARE (ALL PRIVATE ROOMS); MEMORY IMPAIRMENT AND LONG TERM CARE. ASSISTED LIVING SPRINGPOINT LIVING AT MANALAPAN, MANALAPAN, NJ THE ONE-STORY BUILDING INCLUDES 60 APARTMENTS IN THREE DISTINCT NEIGHBORHOODS OFFERING ASSISTED LIVING AND MEMORY CARE SERVICES. EACH NEIGHBORHOOD INCLUDES A DINING ROOM WITH A COUNTRY KITCHEN OFF OF AN ENCLOSED COURTYARD. THE ENCLOSED LANDSCAPED COURTYARDS INCLUDE WALKING PATHS, SEATING AREAS AND COVERED PORCHES. AFFORDABLE HOUSING SPRINGPOINT AFFORDABLE HOUSING COMMUNITIES OFFER COMFORTABLE, ATTRACTIVE, REASONABLY-PRICED HOUSING OPTIONS TO INDIVIDUALS WITH LIMITED INCOMES. PROSPECTIVE TENANTS ARE AGE 62 AND OVER AND MUST MEET FEDERAL INCOME GUIDELINES. SOME COMMUNITIES HAVE PROGRAM ELIGIBILITY FOR THOSE 18 YEARS OF AGE OR OLDER WITH A DISABILITY REQUIRING THE DESIGN FEATURE OF THE UNIT. HERITAGE OF WHITING, HAS A PROGRAM ELIGIBILITY FOR THOSE 55 AND OLDER. HUD SUBSIDIZED TENANTS PAY RENT BASED ON 30% OF THEIR ADJUSTED GROSS ANNUAL INCOME. INCOME LIMITS VARY BY LOCATION. HEAT AND HOT WATER ARE ALSO INCLUDED IN THE RENTAL FEE. PLEASE NOTE: NON-SUBSIDIZED UNITS ARE LOCATED AT ASBURY TOWER (SOME UNITS), HERITAGE AT WHITING, SAMUEL MILLER AND ROBER NOBLE MANOR. EACH SPRINGPOINT AFFORDABLE HOUSING COMMUNITY OFFERS PRIVATE UNFURNISHED APARTMENTS WITH EASY ACCESS TO TRANSPORTATION, SHOPPING, MEDICAL FACILITIES AND OTHER AMENITIES. SPRINGPOINT SENIOR LIVING AFFORDABLE HOUSING COMMUNITIES INCLUDE: - ALLAIRE CROSSING, WALL, 67 UNITS - ASBURY TOWER, ASBURY PARK, 347 UNITS (MANAGED) - BUTLER SENIOR COMMUNITY, BUTLER, 90 UNITS - COUNTRYSIDE MEADOWS, EGG HARBOR CITY, 84 UNITS - CROSSROADS AT HOWELL, FREEHOLD, 86 UNITS - THE OAKS AT TOMS RIVER, 85 UNITS - FRIENDSHIP GARDENS, HOWELL, 100 UNITS - THE GABLES AT WEST WINDSOR, 85 UNITS - HERITAGE AT WHITING, 69 UNITS (MANAGED) - HIDDEN BROOK AT FRANKLIN, 85 UNITS - MANCHESTER PINES, WHITING, 84 UNITS - PLAINFIELD TOWER WEST, PLAINFIELD, 154 UNITS (MANAGED) - PORTLAND POINTE, ATLANTIC HIGHLANDS, 58 UNITS - ROBERT NOBLE MANOR, SOUTH AMBOY, 40 UNITS (MANAGED) - SAMUEL MILLER SENIOR HOUSING, MOUNT HOLLY, 30 UNITS (MANAGED) - STAFFORD BY THE BAY, MANAHAWKIN, 85 UNITS - WATCHING TERRACE AT MIDDLESEX, 87 UNITS - WHEATON POINTE AT EAST WINDSOR, 84 UNITS - WOODLANDS AT RAMSEY, 100 UNITS SPRINGPOINT FOUNDATION THE SPRINGPOINT FOUNDATION IS THE COMMUNITY OUTREACH AND PHILANTHROPIC ARM OF SPRINGPOINT SENIOR LIVING. SINCE 1916, THE PRIMARY PURPOSE OF THE SPRINGPOINT FOUNDATION HAS BEEN MAKING A DIFFERENCE IN THE LIVES OF SENIORS AND THEIR FAMILIES THROUGH OUR RESIDENT AND COMMUNITY PARTNERSHIP PROGRAMS. WE SEEK TO ACCOMPLISH OUR GOALS BY ENCOURAGING CHARITABLE SUPPORT THROUGH A VARIETY OF GIVING AND SPONSORSHIP OPPORTUNITIES, SPECIAL EVENTS AND GIFT PLANNING PROGRAMS. LIFE-ENHANCING RESIDENT ASSISTANCE BENEVOLENT CARE: FINANCIAL STABILITY EQUALS PEACE OF MIND FOR TODAY'S AGING ADULTS. TODAY, WE ARE HOLDING TRUE TO OUR MISSION AND HELPING MANY RESIDENTS FINANCIALLY. TRANSPORTATION: MANY OLDER ADULTS ARE UNABLE TO DRIVE, SIGNIFICANTLY LIMITING THEIR ABILITY TO REMAIN INDEPENDENT AND NEGATIVELY IMPACTING THEIR QUALITY OF LIFE. EACH YEAR, THE FOUNDATION ALLOCATES FUNDING FOR TRANSPORTATION. FOR EXAMPLE, THE FOUNDATION CURRENTLY SUPPORTS THE PURCHASE AND MAINTENANCE OF NEW BUSES THAT PROVIDE GREATER INDEPENDENCE FOR MORE THAN 1,600 RESIDENTS LIVING IN 15 AFFORDABLE HOUSING COMMUNITIES. SPIRITUAL CARE: SPIRITUAL LEADERSHIP POSITIVELY INFLUENCES BOTH THE PHYSICAL AND EMOTIONAL WELL-BEING OF SENIORS. OUR NON-DENOMINATIONAL PROGRAMS ENCOURAGE SENIORS TO PRACTICE THEIR FAITH AND OBTAIN THE SPIRITUAL GUIDANCE THEY NEED TO MAINTAIN A HEALTHY STATE OF MIND AND BODY. FORM 990, PART III, LINE 4A: COMMUNITY SERVICE AND VOLUNTEERING: IN AN EFFORT TO ENRICH THE LARGER COMMUNITY, THE SPRINGPOINT FOUNDATION ACTS AS A CONVENER AND COORDINATOR OF COMMUNITY SERVICE AND VOLUNTEER PROGRAMS. WORKING WITH INDIVIDUALS AND ORGANIZATIONS, THE FOUNDATION CREATES AND IDENTIFIES VOLUNTEER OPPORTUNITIES THAT BENEFIT PEOPLE AND COMMUNITIES IN NEED. TO ENHANCE FOCUS ON OUTREACH TO COMMUNITIES OUTSIDE OF OUR SPRINGPOINT SITES EACH SPRINGPOINT COMMUNITY HAS A SPRINGPOINT COLLEAGUE FOCUSED ON SOCIAL ACCOUNTABILITY PROGRAMMING TO PROMOTE OPPORTUNITIES FOR OUTREACH TO ASSIST NONPROFITS AND CLUBS BY OFFERING MEETING SPACE AND PARTICIPATION IN ACTIVITIES SUCH AS VETERANS, GIRLS ON THE RUN, AND THE LONGEST DAY ALZHEIMER'S WALK. WORKFORCE DEVELOPMENT AND INTERNSHIPS: OUR TOMORROW'S LEADERS PROGRAM IS DESIGNED TO CREATE AND INSPIRE THE NEXT GENERATION OF LEADERS AND INNOVATORS IN SENIOR CARE. IT IS SUPPORTED THROUGH SPONSORSHIP OF INTERNS BY INDIVIDUALS, CORPORATIONS, AND SPRINGPOINT VENDORS. INTERNS GAIN HANDS-ON EXPERIENCE AND FIRST-HAND KNOWLEDGE OF THE LATEST POLICIES AND PRACTICES THAT AFFECT THE NEEDS OF AGING ADULTS. WE ARE PROUD THAT MANY OF OUR INTERNS CONTINUE ON TO A CAREER IN THE FIELD OF SENIOR CARE. CONCLUSION SPRINGPOINT IS A NONPROFIT LEADER IN HIGH-QUALITY SENIOR HOUSING AND CARE. SPRINGPOINT OFFERS DIVERSE RETIREMENT LIFESTYLE OPTIONS AS WELL AS A RANGE OF INNOVATIVE SERVICES AND PROGRAMMING THAT ENHANCE THE LIVES OF THOSE WE SERVE EACH DAY. OUR CHOICES INCLUDE FULL-SERVICE SENIOR LIVING, SKILLED NURSING, AFFORDABLE HOUSING, HOME CARE, CARE MANAGEMENT SERVICES AND CONTINUING CARE AT HOME. BECAUSE SPRINGPOINT IS A NONPROFIT ORGANIZATION, RESIDENTS AND THEIR FAMILIES ARE ALWAYS OUR FIRST PRIORITY. OUR COMPASSIONATE, PROFESSIONAL STAFF ENSURES THAT THOSE WE SERVE ENJOY THE BEST QUALITY OF LIFE EACH DAY WHILE MAINTAINING THE HIGHEST POSSIBLE LEVEL OF INDEPENDENCE. FORM 990, PART VI, SECTION A, LINE 1A THE PRESIDENT OF THE CORPORATION SHALL SERVE AS EX OFFICIO TRUSTEE WITH THE SAME RIGHTS AS OTHER TRUSTEES, INCLUDING THE RIGHT TO VOTE. NOTWITHSTANDING THE FOREGOING, THE PRESIDENT SHALL NOT SERVE AS A MEMBER OF THE COMPENSATION COMMITTEE AND SHALL NOT HAVE A RIGHT TO VOTE ON PERSONNEL COMPENSATION MATTERS OR SUCH OTHER MATTERS ARISING FROM THE COMPENSATION COMMITTEE. THE PRESIDENT, IN HIS ROLE AS A MEMBER OF THE GOVERNANCE COMMITTEE, SHALL ABSTAIN FROM VOTING ON RECOMMENDATIONS TO THE BOARD CONCERNING THE NOMINATION OF QUALIFIED PERSONS TO STAND FOR ELECTION OR RE-ELECTION AS TRUSTEES OR TO FILL VACANCIES ON THE BOARD. FORM 990, PART VI, SECTION A, LINE 7A SPRINGPOINT HAS THE RIGHT TO ELECT THE MEMBERS OF EACH SUBORDINATE ORGANIZATION'S BOARD OF TRUSTEES AND HAS CERTAIN RESERVED POWERS AS DEFINED IN EACH SUBORDINATE ORGANIZATION'S BYLAWS. FORM 990, PART VI, SECTION A, LINE 7B SPRINGPOINT HAS THE RIGHT TO ELECT THE MEMBERS OF EACH SUBORDINATE ORGANIZATION'S BOARD OF TRUSTEES AND HAS CERTAIN RESERVED POWERS AS DEFINED IN EACH SUBORDINATE ORGANIZATION'S BYLAWS. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION IS THE PARENT OF A TAX-EXEMPT GROUP OF ORGANIZATIONS THAT PROVIDE CONTINUING CARE RETIREMENT COMMUNITY SERVICES AND AFFORDABLE HOUSING. THE FORM 990 WAS PROVIDED TO THE MEMBERS OF THE ORGANIZATION'S FULL GOVERNING BODY, ITS BOARD OF TRUSTEES, FOR ITS REVIEW AND APPROVAL PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE ("IRS"). THE AUDIT COMMITTEE OF THE ORGANIZATION HOLDS A MEETING AND PERFORMS A REVIEW OF THE FORM 990 PRIOR TO THE PROVISION OF THE FORM TO THE ORGANIZATION'S BOARD OF TRUSTEES. THE ORGANIZATION'S BOARD OF TRUSTEES HAS DELEGATED TO ITS AUDIT COMMITTEE THE RESPONSIBILITY TO OVERSEE, REVIEW AND APPROVE OF THE FEDERAL FORM 990, INCLUDING THE PREPARATION, REVIEW AND FILING PROCESS. AS PART OF THE TAX RETURN PREPARATION PROCESS, THE ORGANIZATION HIRED A PROFESSIONAL CPA FIRM WITH EXPERIENCE AND EXPERTISE IN BOTH HEALTHCARE AND NOT-FOR-PROFIT TAX RETURN PREPARATION TO PREPARE THE FEDERAL FORM 990. THE CPA FIRM'S TAX PROFESSIONALS WORK CLOSELY WITH THE ORGANIZATION'S FINANCE PERSONNEL AND VARIOUS OTHER INDIVIDUALS OF THE ORGANIZATION TO OBTAIN THE INFORMATION NEEDED TO PREPARE A COMPLETE AND ACCURATE TAX RETURN. THE CPA FIRM PREPARES A DRAFT FEDERAL FORM 990 AND FURNISHES IT TO THE ORGANIZATION'S FINANCE PERSONNEL AND OTHER INDIVIDUALS FOR THEIR REVIEW. THE ORGANIZATION'S FINANCE PERSONNEL AND OTHER INDIVIDUALS REVIEW THE DRAFT FEDERAL FORM 990 AND DISCUSS QUESTIONS AND COMMENTS WITH THE CPA FIRM. REVISIONS ARE MADE TO THE DRAFT FEDERAL FORM 990 WHERE NECESSARY AND A FINAL DRAFT IS FURNISHED BY THE CPA FIRM TO THE ORGANIZATION'S FINANCE PERSONNEL AND VARIOUS OTHER INDIVIDUALS FOR FINAL REVIEW AND APPROVAL PRIOR TO PRESENTATION OF THE FEDERAL FORM 990 TO THE MEMBERS OF THE SPRINGPOINT SENIOR LIVING, INC. AUDIT COMMITTEE AND THEREAFTER THE PROVISION TO ITS FULL BOARD OF TRUSTEES. ONCE ALL REVIEW IS COMPLETE, THE FORM 990 IS FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C SPRINGPOINT SENIOR LIVING, INC. ("SPRINGPOINT") IS THE CENTRAL ORGANIZATION FOR THIS CONSOLIDATED GROUP FORM 990. THE ORGANIZATION REGULARLY MONITORS AND ENFORCES COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY. ANNUALLY ALL MEMBERS OF THE BOARD OF TRUSTEES, OFFICERS AND SENIOR MANAGEMENT PERSONNEL ARE REQUIRED TO REVIEW THE EXISTING CONFLICT OF INTEREST POLICY AND COMPLETE A QUESTIONNAIRE. THE COMPLETED QUESTIONNAIRES ARE RETURNED TO THE ORGANIZATION'S GENERAL COUNSEL FOR REVIEW. THEREAFTER, THE ORGANIZATION'S GENERAL COUNSEL PREPARES A SUMMARY OF THE COMPLETED QUESTIONNAIRES WHICH CONTAINS INFORMATION DISCLOSED ON AN INDIVIDUAL-BY-INDIVIDUAL BASIS AND PRESENTS THIS SUMMARY TO THE ORGANIZATION'S GOVERNANCE COMMITTEE FOR ITS REVIEW AND DISCUSSION. FAMILY AND BUSINESS RELATIONSHIPS ARE EXPRESSLY MENTIONED IN THE CONFLICT OF INTEREST POLICY AS BEING SOURCES OF POTENTIAL CONFLICTS. TRRANSACTIONS WITH PARTIES WITH WHOM A CONFLICTING INTEREST EXISTS MAY BE UNDERTAKEN ONLY IF ALL OF THE FOLLOWING ARE OBSERVED: 1. THE CONFLICTING INTEREST IS FULLY DISCLOSED; 2. THE PERSON WITH THE CONFLICT OF INTEREST IS EXCLUDED FROM THE DISCUSSION AND APPROVAL OF SUCH TRANSACTIONS; 3 A COMPETITIVE BID OR COMPARABLE VALUATION EXISTS, AND 4. THE SENIOR MANAGEMENT TEAM AND/OR BOARD OF TRUSTEES, AS APPROPRIATE, HAS DETERMINED THAT THE TRANSACTION IS IN THE BEST INTEREST OF THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION'S BOARD OF TRUSTEES HAS AN EXECUTIVE COMPENSATION COMMITTEE ("COMMITTEE"). THE COMMITTEE HAS ADOPTED A WRITTEN EXECUTIVE COMPENSATION PHILOSOPHY WHICH IT FOLLOWS WHEN IT REVIEWS AND APPROVES THE COMPENSATION AND BENEFITS FOR THE ORGANIZATION'S SENIOR MANAGEMENT, INCLUDING THE PRESIDENT/CHIEF EXECUTIVE OFFICER, CHIEF OPERATING OFFICER AND CHIEF FINANCIAL OFFICER. THE COMMITTEE REVIEWS THE "TOTAL COMPENSATION" OF THE INDIVIDUALS WHICH IS INTENDED TO INCLUDE BOTH CURRENT AND DEFERRED COMPENSATION AND ALL EMPLOYEE BENEFITS, BOTH QUALIFIED AND NON-QUALIFIED. THE COMMITTEE'S REVIEW IS COMPLETED AND DOCUMENTED ON AT LEAST AN ANNUAL BASIS AND ENSURES THAT THE "TOTAL COMPENSATION" OF THE ORGANIZATION'S SENIOR MANAGEMENT IS REASONABLE. THE ACTIONS TAKEN BY THE COMMITTEE ENABLE THE ORGANIZATION TO SATISFY THE REBUTTABLE PRESUMPTION OF REASONABLENESS FOR PURPOSES OF INTERNAL REVENUE CODE SECTION 4958 WITH RESPECT TO THE TOTAL COMPENSATION OF CERTAIN MEMBERS OF THE SENIOR MANAGEMENT TEAM, INCLUDING THE PRESIDENT/CHIEF EXECUTIVE OFFICER, CHIEF OPERATING OFFICER AND CHIEF FINANCIAL OFFICER. THE THREE FACTORS WHICH MUST BE COMPLETED IN ORDER TO SATISFY THE REBUTTABLE PRESUMPTION OF REASONABLENESS ARE THE FOLLOWING: 1. THE COMPENSATION ARRANGEMENT IS APPROVED IN ADVANCE BY AN "AUTHORIZED BODY" OF THE APPLICABLE TAX-EXEMPT ORGANIZATION WHICH IS COMPOSED ENTIRELY OF INDIVIDUALS WHO DO NOT HAVE A "CONFLICT OF INTEREST" WITH RESPECT TO THE COMPENSATION ARRANGEMENT; 2. THE AUTHORIZED BODY OBTAINED AND RELIED UPON "APPROPRIATE DATA AS TO COMPARABILITY" PRIOR TO MAKING ITS DETERMINATION; AND 3. THE AUTHORIZED BODY "ADEQUATELY DOCUMENTED THE BASIS FOR ITS DETERMINATION" CONCURRENTLY WITH MAKING THAT DETERMINATION. THE COMMITTEE IS COMPRISED OF MEMBERS OF THE BOARD OF TRUSTEES EACH OF WHOM ARE INDEPENDENT AND FREE FROM ANY CONFLICTS OF INTEREST. THE COMMITTEE RELIED UPON APPROPRIATE COMPARABLE DATA; SPECIFICALLY THE COMMITTEE OBTAINED A WRITTEN COMPENSATION STUDY FROM AN INDEPENDENT FIRM WHICH SPECIALIZES IN THE REVIEWING OF RETIREMENT HOUSING AND SENIOR LIVING HEALTHCARE SERVICES' EXECUTIVE COMPENSATION AND BENEFITS THROUGHOUT THE UNITED STATES. THIS STUDY USED COMPARABLE GEOGRAPHIC AND DEMOGRAPHIC MARKET DATA INCLUDING BUT NOT LIMITED TO SIMILAR SIZED ORGANIZATIONS, NUMBER OF CONTINUING CARE RETIREMENT COMMUNITIES AND RESIDENTIAL FACILITY REVENUE. THE COMMITTEE ADEQUATELY DOCUMENTED ITS BASIS FOR ITS DETERMINATION THROUGH THE TIMELY PREPARATION OF WRITTEN MINUTES OF THE COMPENSATION COMMITTEE MEETINGS DURING WHICH EXECUTIVE COMPENSATION AND BENEFITS WAS REVIEWED AND SUBSEQUENTLY APPROVED. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G FEES FOR SERVICE - OTHER: PROGRAM SERVICE EXPENSES 30,143,553. MANAGEMENT AND GENERAL EXPENSES 7,775,134. FUNDRAISING EXPENSES 201,106. TOTAL EXPENSES 38,119,793. FORM 990, PART XI, LINE 9: NET ASSET TRANSFER 556,791. CHANGE IN FAIR VALUE OF DERIVATIVE FINANCIAL INSTRUMENTS 1,415,213. PENSION LIABILITY ADJUSTMENT -40,107. CHANGE IN VALUE OF PERPETUAL TRUST 279,295. CHANGE IN VALUE SPLIT INTEREST AGREEMENTS 60,166. 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