2025-11-17T08:48:33-06:00 2024-12-31 331498605 PLANTE & MORAN PLLC 250 S HIGH ST SUITE 100 COLUMBUS OH 43215 990 2024-01-01 521404857 AIR FORCE RETIRED OFFICERS COMMUNITY - WASHINGTON DC AIRF 7034045102 20522 FALCONS LANDING CIRCLE POTOMAC FALLS VA 20165 FRED R BOVA JR CFO 7034045102 2025-11-14 1 1 ALYSSA M KENT P01701477 6148493000 2025-11-14 2024 2025-03-06 01:10:19Z FALCONS LANDING FRED R BOVA JR 20522 FALCONS LANDING CIRCLE POTOMAC FALLS VA 20165 42073344 0 X WWW.FALCONSLANDING.ORG X 1984 VA TO OPERATE A FIRST CLASS NOT FOR PROFIT CONTINUING CARE RETIREMENT COMMUNITY FOR THE BENEFIT OF RETIRED MILITARY OFFICERS AND SENIOR RETIRED FEDERAL EMPLOYEES, THEIR SPOUSES AND WIDOWED SPOUSES AND HONORABLY DISCHARGED MILITARY OFFICERS. WE SHALL PROVIDE FACILITIES AND SERVICES THAT SUPPORT AND ENHANCE THE HEALTH SECURITY, HAPPINESS AND WELL BEING OF OUR RESIDENTS. 9 9 442 10 0 0 280957 1046438 37378049 39522761 500808 922830 0 0 38159814 41492029 0 0 0 0 21671181 22370509 0 0 0 17094199 18626403 38765380 40996912 -605566 495117 135004692 140717841 128834607 127938698 6170085 12779143 X TO OPERATE A FIRST CLASS NOT FOR PROFIT CONTINUING CARE RETIREMENT COMMUNITY FOR THE BENEFIT OF RETIRED MILITARY OFFICERS AND SENIOR RETIRED FEDERAL EMPLOYEES, THEIR SPOUSES AND WIDOWED SPOUSES AND HONORABLY DISCHARGED MILITARY OFFICERS. WE SHALL PROVIDE FACILITIES AND SERVICES THAT SUPPORT AND ENHANCE THE HEALTH SECURITY, HAPPINESS AND WELL BEING OF OUR RESIDENTS. 0 0 15838803 29547059 PROVIDE HOUSING, FOOD, AND OTHER SERVICES TO OVER 400 INDEPENDENT LIVING RESIDENTS OF A RETIREMENT COMMUNITY. 19037693 9975702 PROVIDE HOUSING, NURSING, FOOD, AND OTHER SERVICES TO OVER 100 HEALTH CENTER RESIDENTS OF A RETIREMENT COMMUNITY. 34876496 1 1 0 0 0 0 0 0 1 0 1 0 0 0 1 1 1 0 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 0 0 0 0 0 1 6 0 1 442 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 VA X FRED R BOVA JR 7034045145 20522 FALCONS LANDING CIRCLE POTOMAC FALLS VA 20165 JOE MARSHALL CHAIR 5.00 X X 0 0 0 DR CHRISTINE HUNTER VICE CHAIR 5.00 X X 0 0 0 KAREN WARACK TREASURER 5.00 X X 0 0 0 SHARON SHAFFER SECRETARY 5.00 X X 0 0 0 DALE ORMOND BOARD MEMBER 5.00 X 0 0 0 MARY LOWE MAYHUGH BOARD MEMBER 5.00 X 0 0 0 ALAN SHAFFER BOARD MEMBER 5.00 X 0 0 0 DR JOCELYN SENG BOARD MEMBER 5.00 X 0 0 0 TIM MARKLE BOARD MEMBER 5.00 X 0 0 0 GARY HANDLEY CEO 40.00 X 311239 0 30500 FRED R BOVA JR CFO (STARTED APRIL 2024) 40.00 X 170465 0 0 HARDY LISTER - PART YEAR CFO (RETIRED MAY 2024) 40.00 X 368570 0 30500 SAID SANA MEDICAL DIRECTOR 40.00 X 235840 0 0 ASHLEE BULLOCK DIRECTOR OF HEALTHCARE SERVICES 40.00 X 192132 0 0 FRED SIMPSON DIRECTOR OF HUMAN RESOURCES 40.00 X 190841 0 0 DAVID PRATT DIRECTOR OF FACILITIES 40.00 X 179002 0 0 LEAH DAILY DIRECTOR OF SALES AND MARKETING 40.00 X 176836 0 0 1824925 0 61000 26 0 1 0 DE MATA HOME IMPROVEMENTS 21161 HAYSHIRE CT ASHBURN VA 20147 CONSTRUCTION SERVICES 1132517 BEST CHOICE CONSTRUCTION INC 7321 LAVA ROCK CIR201 MANASSAS VA 20111 CONSTRUCTION SERVICES 774789 KARE TECHNOLOGIES LLC 7225 LANGTRY STREET SUITE 100 HOUSTON TX 77040 STAFFING AGENCY 524632 TOWN & COUNTRY LANDSCAPING INC 8906 TELEGRAPH RD LORTON VA 22079 LANDSCAPING SERVICES 384524 VERIZON PO BOX 15124 ALBANY NY 122125124 INTERNET SERVICES 326620 36 1046438 1046438 MONTHLY MAINTENANCE FEES 623990 21332594 21332594 HEALTHCARE SERVICE FEES 623990 9936569 9936569 EARNED ENTRANCE FEES 623990 7620884 7620884 OTHER PROGRAM SERVICE REVENUE 623990 632714 632714 39522761 833786 833786 670359 310 581005 -310 89354 89044 89044 41492029 39522761 0 922830 911274 911274 17503634 16344480 1159154 434742 407849 26893 2191832 1878624 313208 1329027 1164737 164290 34099 34099 2164164 1020767 1143397 1600131 430066 1170065 1124952 1124952 6612692 6122486 490206 693925 4189 689736 FOOD & SUPPLIES 3463986 3463762 224 REPAIRS & MAINTENANCE 2932454 2914584 17870 40996912 34876496 6120416 0 353743 2862827 9149371 5599994 0 0 1094033 352210 0 0 0 0 1244601 1799766 0 0 1077090 1341433 162130769 58615319 104548522 103515450 15182315 21064040 206221 247329 0 0 0 0 2148796 3934792 135004692 140717841 3766690 4722430 0 0 39517448 42728076 42139038 38110486 0 0 0 0 0 0 0 0 43411431 42377706 128834607 127938698 X 5360112 11351837 809973 1427306 6170085 12779143 135004692 140717841 X 495117 2525429 3392125 196387 X X 0 1 X 1 0 X 1666675 665430 2900864 280957 1046438 6560364 30201439 30405248 35245780 37014565 38890047 171757079 31868114 31070678 38146644 37295522 39936485 178317443 0 0 0 178317443 361460 280020 325893 500808 833786 2301967 361460 280020 325893 500808 833786 2301967 150552 197247 274466 363484 632714 1618463 32380126 31547945 38747003 38159814 41402985 182237873 0.97850 0.97870 0.01260 0.01350 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 741042 134315 403095 472262 0 6963112 6963112 137598677 48974544 88624133 12165723 7040964 5124759 5403257 2599811 2803446 103515450 REFUNDABLE ENTRANCE FEES 41760706 PRIORITY DEPOSITORS 617000 42377706 X 44213845 2525429 196387 2721816 41492029 0 41492029 40996912 0 40996912 0 40996912 PART IV, LINE 2B: FALCONS LANDING MAINTAINS AN ESCROW ACCOUNT FOR INDIVIDUALS WHO HAVE PLACED WAIT LIST AND RESERVATION AGREEMENT DEPOSITS PENDING THEIR MOVE. THESE DEPOSITS ARE COMPLETELY REFUNDABLE AND ALL INTEREST ACCRUES TO THE INDIVIDUAL. PART X, LINE 2: AFROC IS A NOT-FOR-PROFIT CORPORATION AND IS EXEMPT FROM TAX UNDER THE PROVISIONS OF INTERNAL REVENUE CODE SECTION 501(C)(3). ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY AFROC AND RECOGNIZE A TAX LIABILITY IF AFROC HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY AFROC AND HAS CONCLUDED THAT, AS OF DECEMBER 31, 2024, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN FMV OF SWAP AGREEMENT 196,387. X X X 0 0 0 0 0 0 0 0 0 HARDY LISTER - PART YEAR CFO (RETIRED MAY 2024) 137412 0 222708 0 8450 0 30500 0 0 0 399070 0 0 0 GARY HANDLEY CEO 280239 0 31000 0 0 0 30500 0 0 0 341739 0 0 0 SAID SANA MEDICAL DIRECTOR 229840 0 6000 0 0 0 0 0 0 0 235840 0 0 0 ASHLEE BULLOCK DIRECTOR OF HEALTHCARE SERVICES 185132 0 7000 0 0 0 0 0 0 0 192132 0 0 0 FRED SIMPSON DIRECTOR OF HUMAN RESOURCES 172321 0 6000 0 12520 0 0 0 0 0 190841 0 0 0 DAVID PRATT DIRECTOR OF FACILITIES 169002 0 10000 0 0 0 0 0 0 0 179002 0 0 0 LEAH DAILY DIRECTOR OF SALES AND MARKETING 159800 0 8000 0 9036 0 0 0 0 0 176836 0 0 0 FRED R BOVA JR CFO (STARTED APRIL 2024) 161465 0 9000 0 0 0 0 0 0 0 170465 0 0 0 A INDUSTRIAL DEVELOPMENT AUTHORING OF LOUDOUN COUNT 521310230 2016-11-04 32625477 REDEEM SERIES B OF 2004 BOND ISSUE 0 0 0 B INDUSTRIAL DEVELOPMENT AUTHORING OF LOUDOUN COUNT 521310230 2019-08-08 47000000 CONSTRUCTION LOAN 0 0 0 A 17948039 32625477 250000 2016 1 0 1 1 B 23262603 47000000 58867 29958133 16983000 2021 0 0 0 1 A 0 1 1 1 0 0.00390 0.00390 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 1 0 0 0 1 B 0 1 0 0 1 1 ATLANTIC UNION PUBLIC FINANCE INC 17.000000000000 0 0 0 0 1 A 1 B 1 FORM 990, PART VI, SECTION B, LINE 11B A DRAFT COPY OF THE FORM 990 IS EMAILED TO EACH MEMBER OF THE BOARD OF DIRECTORS. THEY ARE GIVEN ONE WEEK TO REVIEW, COMMENT, AND ASK QUESTIONS. FORM 990, PART VI, SECTION B, LINE 12C THE WRITTEN CONFLICT OF INTEREST POLICY REQUIRES A MANDATORY WRITTEN RESPONSE FROM ALL AFFECTED PARTIES DISCLOSING WHETHER THEY HAVE ANY OUTSIDE INTERESTS THAT WOULD JEOPARDIZE THEIR RESPONSIBILITIES AT FALCONS LANDING. IN THE EVENT OF A CONFLICT OF INTEREST AFROC WILL TAKE ACTIONS IN ACCORDANCE WITH THE CONFLICTS OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15A THE PROCESS FOR DETERMINING COMPENSATION FOR THE PRESIDENT/CEO INVOLVES A REVIEW OF COMPARABLE SALARIES IN THE INDUSTRY AND REQUIRES APPROVAL BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENTS ARE AVAILABLE IN OUR ANNUAL REPORT THAT IS AVAILABLE ON OUR WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN FMV OF SWAP AGREEMENT 196,387. FORM 990, PART XII, LINE 2C: THE AUDIT AND FINANCE COMMITTEE OF THE BOARD OF DIRECTORS OVERSEES THE SELECTION OF THE AUDITORS AND THE AUDIT FINDINGS, THE PROCESS HAS NOT CHANGED FROM PRIOR YEARS.