2026-06-05T15:00:04-05:00 2025-12-31 410746749 CLIFTONLARSONALLEN LLP 475 REGENCY PARK SUITE 175 OFALLON IL 62269 990 2025-01-01 541795871 LEXINGTON RETIREMENT COMMUNITY INC LEXI 5404631910 160 KENDAL DRIVE LEXINGTON VA 24450 PAMELA LUECKE BOARD CHAIR 5404631910 2026-06-05 1 JEFF PARKER P00970069 6182331200 2026-06-04 2025 2025-03-06 01:10:19Z KENDAL AT LEXINGTON PAMELA LUECKE 160 KENDAL DRIVE LEXINGTON VA 24450 26938598 0 X WWW.KALEX.KENDAL.ORG X 1995 VA PROVIDE SERVICES FOR OLDER PEOPLE LIVING RESIDENTIALLY, IN ASSISTED LIVING & SKILLED NURSING. 16 16 224 24 0 0 249132 618211 20212605 21533626 2221650 3469413 367293 467798 23050680 26089048 48300 51050 0 0 9840919 9793194 0 0 11005 11072135 11885345 20961354 21729589 2089326 4359459 120608661 128051402 96780838 94970826 23827823 33080576 X KENDAL AT LEXINGTON, A NOT-FOR-PROFIT LIFE PLAN COMMUNITY, GROUNDED IN QUAKER VALUES, PROVIDES OPPORTUNITIES FOR A DIVERSE POPULATION OF OLDER ADULTS FROM THE LEXINGTON, BUENA VISTA, AND ROCKBRIDGE COUNTY, VIRGINIA AREAS AND BEYOND, TO LIVE IN A (CONTINUED ON SCHEDULE O) VIBRANT, CARING COMMUNITY THAT PROMOTES HEALTHFUL AND MEANINGFUL AGING. 0 0 15742934 51050 21822773 LEXINGTON RETIREMENT COMMUNITY, INC. OWNS AND OPERATES A LIFE PLAN COMMUNITY WHICH CURRENTLY CONSISTS OF 150 INDEPENDENT LIVING RESIDENCES IN COTTAGES AND APARTMENTS, 19 ASSISTED LIVING APARTMENTS WITH CAPACITY OF 20 RESIDENTS AND A 60 BED SKILLED NURSING FACILITY. 15742934 1 1 0 0 0 0 0 0 1 1 1 0 0 0 1 1 1 0 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 0 0 1 0 0 0 1 54 0 224 1 0 0 0 0 0 0 0 0 0 0 0 0 X 16 16 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 VA X WARREN SWANSON 5406002246 160 KENDAL DRIVE LEXINGTON VA 24450 PAMELA LUECKE BOARD CHAIR 10.00 0.00 X X 0 0 0 MICHELE HENTZ BOARD MEMBER 1.00 0.00 X 0 0 0 GEORGE MERCE BROOKE BOARD MEMBER 1.00 0.00 X 0 0 0 DAVID GRIZZLE BOARD MEMBER 0.10 0.00 X 0 0 0 MARK KEELEY BOARD MEMBER 1.00 0.00 X 0 0 0 ELIZABETH BRANNER BOARD MEMBER 1.00 0.00 X 0 0 0 RANDOLPH HARE SECRETARY 1.00 0.00 X X 0 0 0 PRISCILLA BAKER BOARD MEMBER 1.00 0.00 X 0 0 0 CHRISTOPHER RUSSELL BOARD MEMBER - LEFT MAY 2025 1.00 0.00 X 0 0 0 HARRY WARNER JR BOARD MEMBER 1.00 0.00 X 0 0 0 BRUCE SUMMERS BOARD MEMBER 1.00 0.00 X 0 0 0 NATASHA WALSH BOARD MEMBER 1.00 0.00 X 0 0 0 KAREN RUSSELL SECRETARY - LEFT MAY 2025 1.00 0.00 X X 0 0 0 BENNETT ROSS TREASURER 1.00 0.00 X X 0 0 0 LINDA WILDER VICE CHAIR 1.00 0.00 X X 0 0 0 THOMAS GOSSE BOARD MEMBER 1.00 0.00 X 0 0 0 COLIN REID BOARD MEMBER 1.00 0.00 X 0 0 0 VALERIE MOLITERNO BOARD MEMBER 1.00 0.00 X 0 0 0 HELEN DIANNE HERRICK BOARD MEMBER 1.00 0.00 X 0 0 0 FELICIA DIPRONIO BUSH CFO 50.00 0.00 X 230780 0 27056 ADAM DAY CHIEF EXECUTIVE OFFICER 50.00 0.00 X 140886 0 23797 ADAM FELDBAUER HEALTH SERVICES ADMINISTRATOR 50.00 0.00 X 161712 0 24967 GERALD WAYNE FERGUSON IT DIRECTOR 50.00 0.00 X 114216 0 36951 MADISON CARTER HUMAN RESOURCES DIRECTOR 50.00 0.00 X 102435 0 18693 JENNIFER HICKEY DIRECTOR OF CULINARY SERVICES 50.00 0.00 X 100568 0 2687 TRACY WALLACE DIRECTOR OF NURSING 50.00 0.00 X 126020 0 45462 976617 0 179613 7 0 1 0 ATC SERVICES INC 2615 ORANGE AVENUE NE SUITE D ROANOKE VA 24012 ALARM & FIRE SUPPRESSION SERVICES 742890 5 STAR ROOFING & RESTORATION LLC 115 POMONA DRIVE GREENSBORO NC 27407 ROOFING SERVICES 501152 FUNCTIONAL PATHWAYS OF TN LLC 10133 SHERRILL BLVD KNOXVILLE TN 37932 THERAPY SERVICES 439144 ENVISION PROPERTIES LLC 3834 OLD GREENVILLE ROAD STAUNTON VA 24401 CONSTRUCTION SERVICES 315190 NURSESPRING OF ROANOKE LLC 9120 MIDLOTHIAN TURNPIKE RICHMOND VA 23235 NURSING SERVICES 258993 8 618211 10842 618211 RESIDENTIAL SERVICES REVENUE 623000 10902101 10902101 HEALTH CENTER FEES 623000 5783210 5783210 AMORTIZATION OF DEFERRED ENTRY FE 623000 4848315 4848315 21533626 3492380 3492380 78675 0 78675 78675 78675 53277 773306 53460 796090 -183 -22784 -22967 -22967 FOOD SERVICES 623000 219723 219723 MISC. REVENUE 623000 99976 99976 ANCILLARY SERVICES 623000 69424 69424 389123 26089048 21822773 0 3648064 51050 51050 417519 417519 7328964 6614087 708467 6410 337996 302186 35810 1151161 1017336 133825 557554 479283 78271 615327 615327 9782 9782 207528 207528 93667 93667 1287658 1053167 234491 87054 74833 12221 1798678 1546076 252486 116 408484 11968 394912 1604 1210492 1040560 169932 39473 33932 5541 38286 30612 4999 2675 1517282 1517282 3864011 3321572 542439 364471 364471 BAD DEBT EXPENSE 149387 149387 REPAIRS AND MAINTENANCE 141238 121411 19827 PRINTING, BOOKS, & PERI 27962 24037 3925 DUES, LICENSES & FEES 24291 20709 3382 200 274 115 159 21729589 15742934 5975650 11005 711529 1305792 15944448 19554631 10000 10000 659089 847457 556061 542243 104950093 45490941 60908900 59459152 40921576 44903309 897058 1428818 120608661 128051402 2055591 2014521 52563423 52109908 41716642 40375741 378610 454500 66572 16156 96780838 94970826 X 21388500 30204571 2439323 2876005 23827823 33080576 120608661 128051402 4359459 4893294 0 X X 0 1 X 1 0 X 2079608 476596 211050 249132 618211 3634597 18382747 18876566 19713348 20458272 21822773 99253706 20462355 19353162 19924398 20707404 22440984 102888303 508102 546150 313170 322498 338773 2028693 0 508102 546150 313170 322498 338773 2028693 100859610 1239263 1129812 1725408 2327971 3571055 9993509 1239263 1129812 1725408 2327971 3571055 9993509 42895 54010 18965 27642 99976 243488 21744513 20536984 21668771 23063017 26112015 113125300 0.89160 0.91110 0.08830 0.06890 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2021 AMOUNT: $ 42,895. 2022 AMOUNT: $ 54,010. 2023 AMOUNT: $ 18,965. 2024 AMOUNT: $ 27,642. 2025 AMOUNT: $ 99,976. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 8370041 1804525 1367268 17175 3896 11520763 6131771 1642604 617985 18354 3965 8370041 4187601 1375248 632813 32789 31102 6131771 5114608 300 -832815 30300 64192 4187601 3957866 1010425 280405 30800 103288 5114608 0.95910 0.02850 0.01240 0 0 741068 741068 97817901 40902200 56915701 6391124 4588741 1802383 59459152 DUE TO AFFILIATE 16156 16156 X 30837625 4893294 4893294 25944331 93667 51050 144717 26089048 21584872 0 21584872 93667 51050 144717 21729589 PART IV, LINE 2B: REPRESENTS RESERVATION DEPOSITS BY PROSPECTIVE RESIDENTS THAT ARE HELD IN ESCROW. PART V, LINE 4: THERE ARE TWO DONOR RESTRICTED PERMANENT ENDOWMENTS TOTALING $328,892. ONE IS TO BE USED FOR THE FELLOWSHIP FUND. THE FELLOWSHIP FUND PROVIDES FINANCIAL ASSISTANCE TO RESIDENTS THAT HAVE OUTLIVED THEIR ASSETS AND NEED ASSISTANCE PAYING THEIR MONTHLY FEE OR NEED ASSISTANCE PAYING THE INITIAL ENTRY FEE INTO THE COMMUNITY. THE SECOND DONOR RESTRICTED ENDOWMENT IS FOR EMPLOYEE EDUCATION AND DEVELOPMENT. THERE ARE FOUR BOARD DESIGNATED ENDOWMENTS (QUASI-ENDOWMENT) TOTALING $11,049,372. THE 1ST IS FOR THE FELLOWSHIP FUND ($329,212). THE 2ND IS FOR EMPLOYEE DEVELOPMENT ($122,282), THE 3RD IS FOR CAMPUS BEAUTIFICATION ($378,276), AND THE FINAL ONE IS FOR CAPITAL IMPROVEMENTS ($10,219,602). PART X, LINE 2: THE CORPORATION HAS BEEN GRANTED EXEMPT STATUS RELATIVE TO FEDERAL AND STATE CORPORATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND APPLICABLE STATE CODES. THE CORPORATION FOLLOWS THE GUIDANCE IN THE INCOME TAX STANDARD REGARDING THE RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. THE GUIDANCE CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS. THE GUIDANCE FURTHER PRESCRIBES RECOGNITION AND MEASUREMENT OF TAX PROVISIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. THE APPLICATION OF THIS STANDARD HAS NO IMPACT ON THE CORPORATION'S FINANCIAL STATEMENTS. PART XI, LINE 4B - OTHER ADJUSTMENTS: RESIDENTIAL ASSISTANCE GRANT-CONTRA REVENUE ACCOUNT ON THE FINANCIALS 51,050. PART XII, LINE 4B - OTHER ADJUSTMENTS: RESIDENTIAL ASSISTANCE GRANT-CONTRA REVENUE ACCOUNT ON THE FINANCIALS 51,050. 1 MONTHLY FEE ASSISTANCE 2 51050 FMV REDUCTION IN FEES BY WAY OF A CREDIT ON RESIDENT'S MONTHLY STATEMENT. NO CASH IS GIVEN TO THE RESIDENTS. PART I, LINE 2: AFTER A REQUEST FOR FINANCIAL ASSISTANCE IS RECEIVED, A FINANCIAL APPLICATION MUST BE COMPLETED BY THE RESIDENT. THE APPLICATION IS COMPARED TO THE INITIAL APPLICATION COMPLETED PRIOR TO APPROVAL INTO THE COMMUNITY TO ASSURE THERE ARE NO DISCREPANCIES. THE REQUEST IS THEN BROUGHT TO THE FELLOWSHIP COMMITTEE WHICH CONSISTS OF INDEPENDENT MEMBERS OF THE BOARD EXECUTIVE COMMITTEE FOR APPROVAL. X X X 0 0 0 0 0 0 0 0 0 FELICIA DIPRONIO BUSH CFO 228780 0 2000 0 0 0 12263 0 14793 0 257836 0 0 0 ADAM FELDBAUER HEALTH SERVICES ADMINISTRATOR 145962 0 12500 0 3250 0 22693 0 2274 0 186679 0 0 0 TRACY WALLACE DIRECTOR OF NURSING 123920 0 2100 0 0 0 6931 0 38531 0 171482 0 0 0 ADAM DAY CHIEF EXECUTIVE OFFICER 125886 0 0 0 15000 0 6276 0 17521 0 164683 0 0 0 GERALD WAYNE FERGUSON IT DIRECTOR 112216 0 2000 0 0 0 7249 0 29702 0 151167 0 0 0 A INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF LEXINGTON VIRGINIA 546001392 52976BBY1 2016-10-05 29975790 TO REFUND THE 2007 SERIES A IDA CITY LEXINGTON, VA BONDS 0 0 0 B INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF LEXINGTON VIRGINIA 546001392 52976BCC8 2017-12-27 34857102 TO RENOVATE HEALTH CENTERS & CONSTRUCT 30 IL COTTAGES 1 0 0 C INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF LEXINGTON VIRGINIA 546001392 52976BCF1 2022-10-05 19573304 TO PARTIALLY REFUND 2017A SERIES BONDS 0 0 0 A 8955000 29975790 1991232 591967 27344998 1 0 1 1 B 18540000 34857102 908812 3039 191997 33652311 2021 0 0 1 1 C 50000 19573304 335431 19237873 1 0 0 0 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 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 A 1 B 1 C 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF LEXINGTON, VIR DATE THE REBATE COMPUTATION WAS PERFORMED: 01/01/2021 ISSUER NAME: INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF LEXINGTON, VIR DATE THE REBATE COMPUTATION WAS PERFORMED: 12/27/2022 FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE OF THE BOARD CONSISTS OF THE ELECTED OFFICERS OF THE CORPORATION, THE CHAIR OF THE BOARD DEVELOPMENT COMMITTEE, THE CHIEF EXECUTIVE OFFICER, THE CHIEF FINANCIAL OFFICER, AND UPON REQUEST OF THE CHAIR OF THE BOARD, AND IF WILLING TO SERVE, THE IMMEDIATE PAST CHAIR OF THE BOARD FOR A PERIOD NOT TO EXCEED ONE YEAR. IT SHALL MAKE DECISIONS ON BEHALF OF THE BOARD WHEN CIRCUMSTANCES REQUIRE A DECISION BETWEEN REGULAR MEETINGS OF THE BOARD, AND SHALL MAKE DECISIONS ON BEHALF OF THE BOARD WHEN THE BOARD DELEGATES TO THE COMMITTEE THE AUTHORITY TO DO SO. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT COPY OF FORM 990 IS PROVIDED TO EACH BOARD MEMBER PRIOR TO ITS FILING WITH THE INTERNAL REVENUE SERVICE. THE COPY REVIEWED BY THE BOARD DOES NOT CONTAIN SCHEDULE B DUE TO THE DESIRED ANONYMITY OF DONORS. BOARD MEMBERS ARE ENCOURAGED TO REVIEW THE RETURN AND ASK QUESTIONS. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY ALL BOARD MEMBERS ARE GIVEN A COPY OF KENDAL AT LEXINGTON'S "CONFLICT OF INTEREST POLICY AND "ETHICAL CODE OF CONDUCT POLICY". BY SIGNING THE ETHICAL CODE OF CONDUCT POLICY, THE BOARD MEMBER IS AGREEING TO UNDERSTANDING AND SUPPORTING KENDAL AT LEXINGTON'S CODE OF CONDUCT. IN ADDITION, THE BOARD MUST COMPLETE THE "ANNUAL CONFLICTS OF INTEREST AND DISCLOSURE OF RELATED ACTIVITIES STATEMENT". THE STATEMENT ASKS SPECIFIC QUESTIONS REGARDING INTERESTS OR AFFILIATIONS WHICH MAY CREATE A CONFLICT OF INTEREST. IF A CONFLICT EXISTS, BOARD MEMBERS ARE ASKED TO EXPLAIN THE SITUATION. THE STATEMENTS ARE REVIEWED AND ACTED UPON IF DEEMED APPROPRIATE. FORM 990, PART VI, SECTION B, LINE 15A THE CHIEF EXECUTIVE OFFICER'S COMPENSATION WAS DETERMINED AFTER AN ANNUAL EVALUATION WAS COMPLETED BY THE CHIEF EXECUTIVE OFFICER'S REVIEW COMMITTEE. THE COMMITTEE CONSISTED OF THE BOARD CHAIR AND TWO INDEPENDENT BOARD MEMBERS. INPUT FOR THE EVALUATION WAS OBTAINED FROM VARIOUS SOURCES, INCLUDING KENDAL AT LEXINGTON STAFF, KENDAL CORPORATION STAFF, BOARD MEMBERS AND RESIDENTS. EARNINGS FOR COMPARABLE POSITIONS IN THE MARKET AREA WERE OBTAINED AND USED TO SET COMPENSATION. 2026 WAS THE MOST RECENT YEAR IN WHICH THE PROCESS INCLUDED REVIEW AND APPROVAL BY INDEPENDENT PERSONS, COMPARABILITY DATA, AND CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION. COMPENSATION FOR OTHER OFFICERS AND KEY EMPLOYEES WAS DETERMINED BY THE CHIEF EXECUTIVE OFFICER WITH INPUT FROM THE DIRECTOR OF HUMAN RESOURCES AND CHIEF FINANCIAL OFFICER. ANNUAL EVALUATIONS AND EARNINGS DATA FOR COMPARABLE POSITIONS IN THE MARKET AREA ARE USED TO SET COMPENSATION. THE TWO WAGE SURVEYS USED WERE: LEADING AGE SOUTH ATLANTIC REGION AND LEADING AGE VIRGINIA. 2025 WAS THE MOST RECENT YEAR IN WHICH THE PROCESS INCLUDED REVIEW AND APPROVAL BY INDEPENDENT PERSONS, COMPARABILITY DATA, AND CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PAGE 12, PART XII, LINE 2C THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. KENDAL AT OBERLIN 600 KENDAL DRIVE OBERLIN OH 44074 341567246 OPERATE CONTINUING CARE RETIREMENT COMMUNITY OH LINE 10 N/A 0 KENDAL AT ITHACA 2230 NORTH TRIPHAMMER ROAD ITHACA NY 14850 521787487 OPERATE CONTINUING CARE RETIREMENT COMMUNITY NY LINE 10 N/A 0 KENDAL AT HANOVER 80 LYME ROAD HANOVER NH 03755 020519490 OPERATE CONTINUING CARE RETIREMENT COMMUNITY NH 501(C)(3) LINE 10 N/A 0 BARCLAY FRIENDS 700 N FRANKLIN STREET WEST CHESTER PA 19380 232088476 OPERATE SKILLED AND ASSISTED LIVING NURSING HOME PA 501(C)(3) LINE 10 N/A 0 THE KENDAL CORPORATION 591 COLLABORATION WAY SUITE 603 NEWARK DE 19713 232688382 DEVELOP AND PROVIDE ADMINISTRATION FOR CCRC'S PA 501(C)(3) LINE 12C, III-FI N/A 0 KENDAL CHARITABLE FUNDS 591 COLLABORATION WAY SUITE 603 NEWARK DE 19713 232626425 MANAGE CHARITABLE CONTRIBUTIONS TO PRIMARILY BENEFIT AFFILIATES PA 501(C)(3) LINE 7 THE KENDAL CORPORATION 0 KENDAL ON HUDSON 1010 KENDAL WAY SLEEPY HOLLOW NY 10591 133971396 OPERATE CONTINUING CARE RETIREMENT COMMUNITY NY 501(C)(3) LINE 10 N/A 0 THE LATHROP COMMUNITIES 100 BASSETT BROOK DRIVE EASTHAMPTON MA 01027 042996627 OPERATE OVER 55 COMMUNITY MA 501(C)(3) LINE 10 N/A 0 KENDAL NEW YORK 1010 KENDAL WAY SLEEPY HOLLOW NY 10591 061656576 PROVIDE SUPPORT SERVICES IN OPERATION OF KENDAL ON HUDSON & KENDAL AT ITHACA NY 501(C)(3) LINE 12A, I THE KENDAL CORPORATION 0 KENDAL AT HOME 26040 DETROIT ROAD SUITE 1 WESTLAKE OH 44145 200548053 OPERATE CONTINUING CARE RETIREMENT PROGRAM OH 501(C)(3) LINE 10 N/A 0 COLLINGTON EPISCOPAL LIFECARE COMMUNITY INC 10450 LOTTSFORD ROAD MITCHELLVILLE MD 20721 521281156 OPERATE CONTINUING CARE RETIREMENT COMMUNITY MD 501(C)(3) LINE 10 N/A 0 KENDAL NORTHERN OHIO 600 KENDAL DRIVE OBERLIN OH 44074 200548053 PROVIDE SUPPORT SERVICES TO KENDAL CCRCS IN OH OH 501(C)(3) LINE 10 N/A 0 KENDAL AT SONOMA 300 PAGE STREET SAN FRANCISCO CA 94102 814896082 OPERATE A CONTINUING CARE RETIREMENT COMMUNITY CA 501(C)(3) LINE 10 N/A 0 KENDAL AT VENTURA 300 PAGE STREET SAN FRANCISCO CA 94102 882322210 DEVELOP, OWN, & OPERATE A SENIOR HOUSING FACILITY CA 501(C)(3) LINE 10 N/A 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0