2025-10-24T08:47:22+00:00 2024-12-31 440160260 Forvis Mazars LLP 255 South Orange Avenue Suite 600 Orlando FL 32801 990 2024-01-01 593562098 Oak Hammock at the University of Florida Inc OAKH 3525481000 5100 SW 25th BLVD Gainesville FL 32608 KEVIN AHMADI PRINCIPAL OFFICER 3525481000 2025-10-24 true true Harry Harp P00176471 4077405400 2025-10-23 2024 2025-03-06 01:10:19Z KEVIN AHMADI 5100 SW 25th BLVD Gainesville FL 32608 46627401 false X WWW.OAKHAMMOCK.ORG X 1998 FL OPERATION OF A RETIREMENT COMMUNITY DESIGNED TO MEET THE NEEDS OF THE AGED. 14 14 436 14 0 207984 182663 41121055 45272507 1147895 1172231 0 42476934 46627401 87920 101102 0 17960581 19056493 0 0 22272972 23601488 40321473 42759083 2155461 3868318 120822024 127489221 171764986 172098018 -50942962 -44608797 TO SUPPORT ITS MEMBERS AND CREATE AN ACTIVE, CARING COMMUNITY BY PROVIDING A CONTINUUM OF QUALITY LIFESTYLE & HEALTHCARE PROGRAMS AND OUTSTANDING ENRICHMENT OPPORTUNITIES IN CONJUNCTION WITH THE UNIVERSITY OF FLORIDA. false false 38410458 101102 45272507 OAK HAMMOCK OWNS AND OPERATES A RETIREMENT COMMUNITY LOCATED IN GAINESVILLE, FLORIDA, AND PROVIDES HOUSING, LIFELONG LEARNING, HEALTH CARE, AND OTHER RELATED SERVICES TO SENIOR ADULTS. THE COMMUNITY CURRENTLY CONSISTS OF 269 RESIDENTIAL UNITS (212 APARTMENTS AND 57 VILLAS AND HOMES), 52 ASSISTED LIVING UNITS, 12 MEMORY CARE ASSISTED LIVING UNITS, AND A 73-BED SKILLED NURSING CENTER. DURING THE CURRENT YEAR, THERE WERE 183,880 RESIDENT DAYS. 38410458 true true false false false false false false false false true true false false true true true false false false false false false false false false false false true true true false false false false false false false false false false false false false false false false false false false false true 89 0 true 436 true false false false false false false false false false false X 14 14 false false false false false true false true true false false false true true true true true true true true false false FL X ANDREW DAVEY 3525481000 5100 SW 25TH BLVD GAINESVILLE FL 32608 ANDY GRAY SECRETARY/TREASURER 5.0 0.0 X X 0 0 0 JUDITH RUSSELL BOARD CHAIRMAN 5.0 0.0 X X 0 0 0 PETER F GEAREN BOARD VICE CHAIRMAN 5.0 0.0 X X 0 0 0 ANN HORGAS BOARD MEMBER 5.0 0.0 X 0 0 0 CYDNEY MCGLOTHLIN BOARD MEMBER 5.0 0.0 X 0 0 0 DONNA JOHNSON BOARD MEMBER 5.0 0.0 X 0 0 0 DOUGLAS MERREY BOARD MEMBER 5.0 0.0 X 0 0 0 JEAN THEURER BOARD MEMBER 5.0 0.0 X 0 0 0 JIM J KELLY JR BOARD MEMBER 5.0 0.0 X 0 0 0 KIM BARTON BOARD MEMBER 5.0 0.0 X 0 0 0 LEE REVERE BOARD MEMBER 5.0 0.0 X 0 0 0 MARGARET PORTILLO BOARD MEMBER 5.0 0.0 X 0 0 0 MARTHA RADER BOARD MEMBER 5.0 0.0 X 0 0 0 ROBERT H JERRY II BOARD MEMBER 5.0 0.0 X 0 0 0 ANDREW DAVEY CHIEF FINANCIAL OFFICER 40.0 0.0 X 242034 0 34074 KEVIN AHMADI CEO 40.0 0.0 X 362203 0 34074 MICHELLE L PARKER Director of Nursing 40.0 0.0 X 115986 0 34074 JANICE HUNZIKER LIFE PLAN CONSULTANT 40.0 0.0 X 176004 0 34074 NICOLE MASON LIFE PLAN CONSULTANT 40.0 0.0 X 129821 0 27373 NICOLE S DORIA Director of Sales & Marketing 40.0 0.0 X 128564 0 27373 ROBERT STOTT INFORMATION TECHNOLOGY DIR 40.0 0.0 X 164222 0 34074 SONJA DONLIN DIRECTOR OF FACILITY OPERA 40.0 0.0 X 142445 0 10829 1461279 0 235945 12 false true false QUALITY CARE REHAB INC 8477 S SUNCOAST BLVD HOMOSASSA FL 34446 THERAPY SERVICES 1436717 SEANOTE CONSTRUCTION 14260 W NEWBERRY RD 172 NEWBERRY FL 32669 CONSTRUCTION SERVICES 1281654 SFCS INC 305 S JEFFERSON ST ROANOKE VA 24011 CONSTRUCTION SERVICES 1044096 NEW HORIZONS PROFESSIONAL LAWN CARE 18802 NW 78TH AVENUE ALACHUA FL 32615 LANDSCAPING 789040 TRADEMARK CONSTRUCTION GROUP INC SW MAULDIN AVE LAKE CITY FL 32024 CONSTRUCTION SERVICES 783648 19 182663 182663 RESIDENT SERVICES 623000 21387108 21387108 HEALTH CARE SERVICES 623000 15297756 15297756 EARNED ENTRANCE SERVICES 623000 8130999 8130999 OTHER RESIDENT REVENUE 623000 456644 456644 0 0 0 0 45272507 1125214 1125214 0 0 47017 0 47017 47017 47017 0 0 0 0 0 0 46627401 45272507 0 1172231 101102 101102 822445 822445 14399140 12918634 1480506 188990 122746 66244 2503671 2144122 359549 1142247 987264 154983 15828 15828 70713 70713 45687 45687 63445 63445 4189536 4024610 164926 0 440829 146943 293886 46300 40135 6165 56086 44869 11217 4595051 4370874 224177 62242 26780 35462 3162114 3024242 137872 6460391 6178709 281682 966752 924600 42152 FOOD SUPPLIES 1839108 1839108 SUPPLIES AND EQUIPMENT 1393823 1306309 87514 EMPLOYEE EXPENSES 159736 159736 UNIFORMS 33847 33847 0 0 0 0 42759083 38410458 4348625 0 482710 2920032 1556865 1503246 0 0 0 0 49223 62145 176773 310284 166131451 79407446 85228504 86724005 32348735 34926169 0 979214 1043340 0 0 120822024 127489221 3601490 4036067 65679358 70124712 70128468 68329484 0 0 0 32355670 29607755 171764986 172098018 X -52581804 -46475466 1638842 1866669 0 0 0 -50942962 -44608797 120822024 127489221 X 3868318 1679389 786458 X false true true false X 996956 2563973 189674 207984 182663 4141250 34472502 35818199 37586728 41121055 45272507 194270991 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 35469458 38382172 37776402 41329039 45455170 198412241 0 0 0 0 0 0 2427350 1660985 3527191 3794721 3748336 15158583 2427350 1660985 3527191 3794721 3748336 15158583 183253658 640474 620245 637347 1017931 1125214 4041211 0 0 0 0 640474 620245 637347 1017931 1125214 4041211 0 0 0 0 0 0 0 2927043 0 0 2927043 36109932 39002417 41340792 42346970 46580384 205380495 0.89226 0.9027 0.02 0.0187 X Schedule A, Part III, Line 12 Other Income DESCRIPTION - OTHER INCOME, COLUMN A - , COLUMN B - , COLUMN C - 2927043.0, COLUMN D - , COLUMN E - , COLUMN F - 2927043.0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3533870 3533870 148104036 72202513 75901523 11316076 7204933 4111143 3177469 3177469 86724005 Closely-held equity interests Financial derivatives MUTUAL FUNDS 27096978 F MONEY MARKET FUNDS 7829191 F 34926169 Federal Income Taxes INTEREST RATE SWAP AGREEMENT 3260749 REFUNDABLE ADVANCE FEES 25583369 DEPOSITS 763637 29607755 X 48992146 1679389 786458 2465847 46526299 101102 101102 46627401 42657981 0 0 42657981 101102 101102 42759083 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote OAK HAMMOCK IS ORGANIZED AS A NOT-FOR-PROFIT CORPORATION UNDER THE LAWS OF THE STATE OF FLORIDA AND HAS BEEN GRANTED RECOGNITION OF ITS TAX-EXEMPT STATUS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE; ACCORDINGLY, NO INCOME TAX LIABILITY OR PROVISION FOR INCOME TAXES IS REFLECTED IN THESE FINANCIAL STATEMENTS. AS OF DECEMBER 31, 2024, WITH CERTAIN STATUTORY EXCEPTIONS, OAK HAMMOCK IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY U.S. FEDERAL TAXING AUTHORITIES FOR ANY TAX YEARS BEFORE JANUARY 1, 2021. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 CHANGE IN FAIR VALUE OF INTEREST RATE SWAP AGREEMENT - 786458 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements CONTRIBUTION EXPENSES INCLUDED IN REVENUE - 101102 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements CONTRIBUTION EXPENSES INCLUDED IN REVENUE - 101102 false Monthly Fee Assistance 4 101102 0 FMV None Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds N/A X X X X false false false false false false false false false KEVIN AHMADI CEO 317962 0 44241 0 0 0 0 0 34074 0 396277 0 0 0 ANDREW DAVEY CHIEF FINANCIAL OFFICER 218024 0 24010 0 0 0 0 0 34074 0 276108 0 0 0 MICHELLE L PARKER Director of Nursing 112386 0 3600 0 0 0 0 0 34074 0 150060 0 0 0 NICOLE MASON LIFE PLAN CONSULTANT 74023 0 55798 0 0 0 0 0 27373 0 157194 0 0 0 ROBERT STOTT INFORMATION TECHNOLOGY DIR 150622 0 13600 0 0 0 0 0 34074 0 198296 0 0 0 NICOLE S DORIA Director of Sales & Marketing 110264 0 18300 0 0 0 0 0 27373 0 155937 0 0 0 JANICE HUNZIKER LIFE PLAN CONSULTANT 69988 0 106016 0 0 0 0 0 34074 0 210078 0 0 0 SONJA DONLIN DIRECTOR OF FACILITY OPERA 128845 0 13600 0 0 0 0 0 10829 0 153274 0 0 0 A CITY OF GAINESVILLE FL 2017-09-28 17855000 SEE SUPPLEMENTAL INFORMATION false false false B ALACHUA COUNTY HEALTH FACILITIES AUTHORITY 592442398 010684AX6 2021-11-17 16645000 SEE SUPPLEMENTAL INFORMATION false false false C ALACHUA COUNTY HEALTH FACILITIES AUTHORITY 592442398 010684AX6 2022-07-06 39000000 SEE SUPPLEMENTAL INFORMATION false false false A 4530000 0 17855000 0 0 0 213399 0 0 0 17641601 0 2017 true false true true B 1290000 0 18127947 1603564 0 0 362559 0 0 1876477 14285347 0 2021 true false true true C 1600000 0 41321832 4252752 0 0 771473 0 0 0 36297607 0 2022 true false true true A false false false false false false 0 0 0.0 false false 0 false true B false false false false false false 0 0 0.0 false false 0 false true C false false false false false false 0 0 0.0 false false 0 false true A false true false true true true MORGAN STANLEY 12.1 false false false 0 false false true B false true false true false false 0 false false false 0 false false true C false true false true false false 0 false false false 0 false false true A true B true C true Schedule K, Part I, Column (f) PURPOSE OF SERIES 2017A BONDS THE SERIES 2017A NOTE, IN THE ORIGINAL AMOUNT OF $17,855,000, WAS ISSUED AS A TAX-EXEMPT REVENUE REFUNDING BOND AND PURCHASED BY THE BANK TO REFUND THE SERIES 2012B BOND AND PAY CERTAIN COSTS OF ISSUANCE. IN DECEMBER 2021, DEBT WAS ISSUED THAT MODIFIED THE TERMS OF SERIES 2017A NOTE. THE SERIES 2017A NOTE HAS A VARIABLE INTEREST RATE THAT IS RESET MONTHLY (APPROXIMATELY 4.5% AT DECEMBER 31, 2024, MONTHLY PRINCIPAL AND INTEREST PAYMENTS, AND HAS A FINAL MATURITY ON OCTOBER 1, 2046. AN INTEREST RATE SWAP AGREEMENT IS USED TO HEDGE THE VARIABLE INTEREST RATE OF THE SERIES 2017A NOTE. Schedule K, Part I, Column (f) PURPOSE OF SERIES 2021 BONDS IN NOVEMBER 2021, THE AUTHORITY ISSUED $16,645,000 OF CONTINUING CARE RETIREMENT COMMUNITY REVENUE REFUNDING BONDS (OAK HAMMOCK AT THE UNIVERSITY OF FLORIDA, INC. PROJECT), SERIES 2021 (THE "SERIES 2021 BONDS"), TO FUND A DEBT SERVICE RESERVE AND CERTAIN CAPITAL IMPROVEMENTS, TO REFUND THE SERIES 2017B BONDS, AND TO PAY CERTAIN COSTS OF ISSUANCE. THE SERIES 2021 BONDS CONSIST OF TAX-EXEMPT, FIXED RATE BONDS, ISSUED AT A PREMIUM, WITH AN INTEREST RATE OF 4.00% PER ANNUM. Schedule K, Part I, Column (f) PURPOSE OF SERIES 2022 BONDS IN OCTOBER 2021, OAK HAMMOCK ENTERED INTO A FORWARD DELIVERY BOND PURCHASE AGREEMENT FOR THE AUTHORITY TO ISSUE $39,000,000 OF CONTINUING CARE RETIREMENT COMMUNITY REVENUE REFUNDING BONDS, THE SERIES 2022 BONDS, FUNDED IN JULY 2022. PROCEEDS FROM THE SERIES 2022 BONDS WERE USED TO FUND A DEBT SERVICE RESERVE, TO REFUND THE SERIES 2012A BONDS, AND TO PAY CERTAIN COSTS OF ISSUANCE. THE SERIES 2022 BONDS CONSIST OF TAX-EXEMPT, FIXED RATE BONDS, ISSUED AT A PREMIUM, WITH AN INTEREST RATE OF 4.00% PER ANNUM. Form 990, Part VI, Line 15 PROCESS TO ESTABLISH COMPENSATION THE BOARD OF DIRECTORS DETERMINES THE COMPENSATION AND BENEFITS OF THE CHIEF EXECUTIVE OFFICER AND OTHER TOP MANAGEMENT OFFICIALS. THE BOARD IS INDEPENDENT WITH RESPECT TO THE COMPENSATION ARRANGEMENT BEING CONSIDERED. THE BOARD UTILIZES COMPARABILITY SURVEYS AS PART OF THIS PROCESS. THE REVIEW AND APPROVAL PROCESS IS DOCUMENTED IN BOARD MEETING MINUTES. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body PURSUANT TO THE FILING ORGANIZATION'S GOVERNING DOCUMENTS, THE PRESIDENT OF THE UNIVERSITY OF FLORIDA, AN UNRELATED TAX-EXEMPT ORGANIZATION, HAS THE AUTHORITY TO APPOINT FIVE MEMBERS OF THE FILING ORGANIZATION'S BOARD OF DIRECTORS. Form 990, Part VI, Line 11b Review of form 990 by governing body A COPY OF THE FORM 990 IS PROVIDED TO THE FINANCE COMMITTEE FOR REVIEW PRIOR TO BEING FORWARDED TO THE FULL BOARD. THE BOARD IS GIVEN THE OPPORTUNITY TO REVIEW THE FORM PRIOR TO FILING. Form 990, Part VI, Line 12c Conflict of interest policy THE BOARD MEMBERS ANNUALLY SIGN CONFLICT OF INTEREST AFFIDAVITS. AT THE BEGINNING OF EVERY YEAR, AN AFFIDAVIT IS FORWARDED TO EACH OFFICER, DIRECTOR OR BOARD MEMBER ALONG WITH THE CONFLICT OF INTEREST PORTION OF THE BYLAWS IN WHICH THEY SIGN AND VERIFY THAT NO CONFLICT OF INTEREST EXISTS OR STATE WHAT THE CONFLICT IS. WHEN AN ISSUE ARISES IN A BOARD MEETING THAT REQUIRES A VOTE, AND IF ANY OF THE DIRECTORS HAS A CONFLICT OF INTEREST ON THAT ISSUE, THEY WILL ABSTAIN FROM VOTING DUE TO THEIR CONFLICT. Form 990, Part VI, Line 19 Required documents available to the public THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. Form 990, Part XI, Line 9 Other changes in net assets or fund balances CHANGE IN INTEREST RATE SWAP CONTRACTS - 786458; Total - 786458; Form 990, Part XII, Line 2c THE ORGANIZATION'S BOARD OF DIRECTORS IS RESPONSIBLE FOR THE SELECTION, MONITORING AND EVALUATION OF AN INDEPENDENT AUDIT FIRM AND OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS. THERE WAS NO CHANGE IN THE PROCESS FROM THE PRIOR YEAR.