2024-11-14T17:07:09-06:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 600 WASHINGTON AVENUE SUITE 1800 ST LOUIS MO 63101 990 2023-01-01 861996154 CLARK-LINDSEY HOLDINGS INC CLAR 2173442144 101 W WINDSOR RD URBANA IL 61802 CRYSTAL BAILEY CFO 2173442144 2024-11-13 1 1 AMBER ROGNAN-HAMILTON P01251012 3149254300 2024-11-13 2023 2024-10-15 13:58:12Z DEBRA S REARDANZ 101 W WINDSOR RD URBANA IL 61802 460210 0 X WWW.CLARK-LINDSEY.COM X 2021 IL TO PROVIDE HOUSING AND HEALTHCARE FACILITIES/SERVICES FOR ELDERLY PERSONS 2 2 0 4 0 0 67345 51875 0 0 383817 389485 0 0 451162 441360 0 0 0 0 0 0 0 0 0 274580 5400309 274580 5400309 176582 -4958949 73047844 99784137 32630002 62372826 40417842 37411311 TO ENGAGE THE MIND, SPIRIT AND BODY IN WELLNESS AND COMMUNITY SO THAT EACH OLDER ADULT MAY LIVE THEIR BEST LIFE. 0 0 4814676 0 0 THIS ORGANIZATION WORKS WITH CLARK-LINDSEY VILLAGE, WHICH OPERATES IN COLLABORATION WITH LINDSEY COMMUNITIES, INC., LINDSEY MANAGEMENT SERVICES, INC. AND CLARK-LINDSEY HOLDINGS, INC. THE ORGANIZATION HOLDS ASSETS FOR THE OTHER ORGANIZATIONS. 4814676 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 1 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 1 0 0 0 1 12 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 2 2 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 IL X CRYSTAL BAILEY 2173442144 101 WEST WINDSOR ROAD URBANA IL 61802 WADE HAMPTON BOARD CHAIR (TERM ENDED 12/31) 1.00 5.00 X X 0 0 0 DAVE LINE TREASURER & ASSISTANT SECRETARY (TERM ENDED 12/31) 1.00 6.00 X X 0 0 0 JILL GUTH SECRETARY & ASSISTANT TREASURER 1.00 6.00 X X 0 0 0 DENNIS BEARD BOARD VICE CHAIR 1.00 6.00 X X 0 0 0 DEBRA S REARDANZ PRESIDENT & CEO 1.00 42.00 X 0 309693 16849 CRYSTAL BAILEY CFO & VP OF FINANCE 1.00 42.00 X 0 153892 27121 0 463585 43970 0 0 1 0 0 51875 51875 121446 121446 266924 266924 19965 0 18850 19965 -18850 1115 1115 441360 0 0 389485 13636 13636 3090 3090 36131 36131 210 210 1017106 922087 95019 1621623 1470129 151494 2672089 2422460 249629 QUALIFIED FUND DISTRIBU 32188 32188 PHILANTHROPY EXPENSE 4154 4154 MISCELLANEOUS EXPENSE 82 82 5400309 4814676 585633 0 9280539 11410442 41930 26154 110238393 38471929 48181931 71766464 14007090 16308108 1536354 272969 73047844 99784137 3685160 7418585 28944842 49778777 0 5175464 32630002 62372826 X 39768424 36663985 649418 747326 40417842 37411311 73047844 99784137 X -4958949 1901731 50687 X X 0 1 X 1 0 X 67345 51875 119220 67345 51875 119220 51979 67241 426799 388370 815169 934389 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3005449 760 296436 0 22941 5070 3274634 0 3368612 -269361 0 90471 3331 3005449 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.81086 0.18914 0.00000 1 0 225000 225000 59408965 27848152 31560813 2236895 1702880 534015 12367300 8920897 3446403 36000233 36000233 71766464 DUE TO RELATED PARTY 5175464 5175464 X PART V, LINE 4: THE ARMSEY BEAUTIFICATION FUND IS A TERM ENDOWMENT USED TO PROVIDE FINANCIAL SUPPORT FOR CLARK-LINDSEY RESIDENT GROUNDS AND GARDENS. THE THOMPSON LIBRARY FUND IS A TERM ENDOWMENT USED TO PROVIDE FINANCIAL SUPPORT OF THE CLARK-LINDSEY RESIDENT LIBRARY. THE WEBBER EDUCATIONAL FUND IS A PERMANENT ENDOWMENT USED TO PROVIDE FINANCIAL SUPPORT OF CONTINUING EDUCATION FOR HEALTH CENTER STAFF. THE STEWART LIBRARY FUND IS A PERMANENT ENDOWMENT USED TO PROVIDE FINANCIAL SUPPORT OF THE CLARK-LINDSEY RESIDENT LIBRARY. THE KAULFERS FUND IS A BOARD DESIGNATED, QUASI ENDOWMENT USED TO PROVIDE FINANCIAL SUPPORT FOR QUALITY OF LIFE IMPROVEMENTS INCLUDING PROGRAMS AND FACILITIES ESPECIALLY DEVELOPED FOR SENIOR CITIZENS. THE ENDOWMENT FUNDS WERE PREVIOUSLY HELD BY A RELATED ENTITY, CLARK-LINDSEY VILLAGE, INC. (FEIN 37-1017284). THE ENDOWMENT ACTIVITY FROM 2018-2021 IS REPORTED ON THE SCHEDULE D OF CLARK-LINDSEY VILLAGE'S FORM 990, BUT THE ACTIVITY FOR 2022 AND BEYOND WILL BE REPORTED ON CLARK-LINDSEY HOLDINGS. PART X, LINE 2: MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE CONSOLIDATED FINANCIAL STATEMENTS. 0 1 0 0 0 0 0 0 0 DEBRA S REARDANZ PRESIDENT & CEO 0 283200 0 25059 0 1434 0 13827 0 3022 0 326542 0 0 CRYSTAL BAILEY CFO & VP OF FINANCE 0 143092 0 10800 0 0 0 14537 0 12584 0 181013 0 0 PART I, LINE 3 A RELATED ORGANIZATION USES THE FOLLOWING METHODS TO ESTABLISH COMPENSATION: COMPENSATION COMMITTEE, FORM 990 OF OTHER ORGANIZATIONS, WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE PART I, LINE 4B ON JANUARY 1, 2017, CLARK-LINDSEY ENTERED INTO A SUPPLEMENTAL COMPENSATION AGREEMENT COVERING DEBRA S. REARDANZ WHICH PROVIDES FOR THE OFFICER TO RECEIVE, UPON TERMINATION OF EMPLOYMENT, PAYMENT IN CASH, IN FULL, WITHIN 90 DAYS. THE BENEFIT TO WHICH THE OFFICER IS ENTITLED TO RECEIVE BECOMES FULLY VESTED ON THE 10TH FULL CALENDAR YEAR AFTER THE GRANT DATE. IF DEATH OR DISABILITY OCCURS DURING THE PERIOD COVERED BY THE AGREEMENT, THE BALANCE OF THE ACCOUNT BECOMES 100% VESTED WITH THE BENEFIT PAYMENTS MADE TO THE BENEFICIARY. CLARK-LINDSEY'S FUNDING OF THIS BENEFIT IS BEING RECOGNIZED AS COMPENSATION COST ON AN ANNUAL BASIS AND INTENDS TO USE CASH FROM OPERATIONS TO FUND THIS OBLIGATION. AT DECEMBER 31, 2023 AND 2022, CLARK-LINDSEY HAS RECORDED A DESIGNATED INVESTMENT BALANCE AND A DEFERRED COMPENSATION LIABILITY OF APPROXIMATELY $92,000 AND $69,000. PART I, LINE 7 BONUSES ARE PROVIDED BASED UPON THE ORGANIZATION'S FINANCIAL OUTCOME. A ILLINOIS FINANCE AUTHORITY 861091967 45204FQP3 2022-06-22 53276123 SEE PART VI 0 0 0 B ILLINOIS FINANCE AUTHORITY 861091967 45204FVB8 2023-07-27 45000000 SEE PART VI 0 0 0 A 200000 53464236 2742163 887247 1065522 29595835 16851163 2186775 2024 1 1 1 1 B 45086341 345261 859124 2234803 544830 41015982 0 0 0 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 A 0 1 0 0 1 1 BANK OF MONTREAL 5.000000000000 0 0 0 0 1 B 0 1 0 0 1 0 0 0 1 A 1 B 1 PART I COLUMN F, LINE A TO REFUND SERIES 2004 ISSUED 5/20/2004, SERIES 2015 ISSUED 12/30/2015, SERIES 2021 ISSUED 9/9/21 BONDS AND CONSTRUCT NEW BUILDING. PART I COLUMN F, LINE B TO FINANCE AND REIMBURSE COSTS OF CONSTRUCTION, FURNISHING AND EQUIPPING CAMPUS EXPANSION. PART I COLUMN E AND PART II LINE 3 BOND ISSUE A (2022) & B (2023) ISSUE PRICE AND TOTAL PROCEEDS OF ISSUE DIFFER AS A RESULT OF INVESTMENT EARNINGS. FORM 990, PART VI, SECTION A, LINE 6 THE CORPORATION'S SOLE MEMBER, WITHIN THE MEANING OF 617.0601 OF THE ACT, IS LINDSEY COMMUNITIES, INC. (THE "MEMBER"), AN ILLINOIS NOT-FOR-PROFIT CORPORATION THAT IS EXEMPT FROM FEDERAL INCOME TAXATION PURSUANT TO SECTION 501 (C)(3) OF THE CODE. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBER SHALL HAVE THE RIGHT TO APPOINT THE CORPORATION'S BOARD AND REMOVE ANY DIRECTOR OR DIRECTORS, WITH OR WITHOUT CAUSE AS DESCRIBED IN ARTICLE V OF THE BY-LAWS AND FILL ANY DIRECTOR VACANCIES ON THE BOARD. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBER SHALL HAVE THE FOLLOWING EXCLUSIVE POWERS TO: (A) ADOPT OR AMEND THE ARTICLES OF INCORPORATION AND BYLAWS OF THE CORPORATION. (B) ADOPT OR AMEND THE MISSION, PURPOSE, PHILOSOPHY OR OBJECTIVES OF THE CORPORATION. (C) APPOINT THE CORPORATION'S BOARD AND REMOVE ANY DIRECTOR OR DIRECTORS, WITH OR WITHOUT CAUSE, AS DESCRIBED IN ARTICLE V. (D) FILL ANY DIRECTOR VACANCIES ON THE BOARD. (E) DETERMINE AND AMEND THE NUMBER OF DIRECTORS TO SERVE ON THE BOARD. (F) ELECT, RE-ELECT, APPOINT AND REMOVE ALL OFFICERS OF THE CORPORATION AND/OR APPROVE THE ELECTION, RE-ELECTION, APPOINTMENT AND REMOVAL OF ALL OFFICERS OF THE CORPORATION. (G) APPOINT, REVIEW AND REMOVE, WITH OR WITHOUT CAUSE, THE CHIEF EXECUTIVE OFFICER ("CEO"). (H) APPOINT, REVIEW AND REMOVE, WITH OR WITHOUT CAUSE, THE MANAGEMENT COMPANY. (I) PAY PENSIONS AND ESTABLISH AND CARRY OUT PENSION, RETIREMENT, BENEFIT, INCENTIVE AND COMPENSATION PLANS, TRUSTS AND PROVISIONS FOR ANY ER ALL OF ITS EMPLOYEES. (J) ESTABLISH A CORPORATE SPENDING LIMIT. (K) REJECT ANY BUDGET APPROVED BY THE CORPORATION. (I)APPROVE THE INCURRENT OF DEBT OR CAPITAL EXPENDITURE BY THE CORPORATION IN EXCESS OF $100,000 WHETHER IN A SINGLE TRANSACTION OR A SERIES OF RELATED TRANSACTIONS, IF SUCH DEBT OR CAPITAL EXPENDITURE IS NOT INCLUDED IN THE CORPORATION'S APPROVED BUDGETS. (M) INITIATE AND APPROVE INVESTMENT POLICIES AND STRATEGIC PLANS OF THE CORPORATION. (N) AUTHORIZE OR ADOPT A PLAN OF MERGER, CONSOLIDATION, CORPORATE REORGANIZATION, OR THE CREATION OR DISSOLUTION OF A NEW SUBSIDIARY OR AFFILIATE. (O) AUTHORIZE DISSOLUTION, DIVISION OR LIQUIDATION OF THE CORPORATION. (P) AUTHORIZE THE LEASE, SALE, EXCHANGE, TRANSFER OR OTHER DISPOSITION OF SUBSTANTIALLY ALL OF THE CORPORATION'S ASSETS. (Q) SELECT AND APPOINT THE BANKS, ACCOUNTANTS, AUDITORS AND LEGAL COUNSEL OF THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD DIRECTS THAT AT LEAST ONE BOARD MEMBER, WHO SERVES ON THE FINANCE COMMITTEE, CONDUCT THE ANNUAL REVIEW OF THE FORM 990 AND PRESENT IT TO THE FULL BOARD PRIOR TO BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD DIRECTS THAT OFFICERS, DIRECTORS, AND KEY EMPLOYEES ANNUALLY DISCLOSE INTERESTS THAT COULD GIVE RISE TO CONFLICTS. THE COMPLIANCE OFFICER IS RESPONSIBLE FOR PREPARING QUARTERLY REPORTS TO THE BOARD FINANCE COMMITTEE THAT DISCLOSES ACTUAL, POTENTIAL OR PERCEIVED CONFLICTS OF INTEREST. IN THE EVENT THAT A CONFLICT EXISTS, THE PERSON IS REQUIRED TO RECUSE HIMSELF OR HERSELF FROM PARTICIPATING IN THE DECISION. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION DOES NOT COMPENSATE ANY OFFICERS OR KEY EMPLOYEES. A RELATED ORGANIZATION USES THE FOLLOWING PROCESS TO DETERMINE COMPENSATION FOR THOSE INDIVIDUALS: THE BOARD DIRECTS THAT THE PERSONNEL & POLICY COMMITTEE (P&PC) CONDUCT THE PRESIDENT'S ANNUAL PERFORMANCE REVIEW AND DEVELOP SALARY AND COMPENSATION RECOMMENDATIONS FOR FULL BOARD APPROVAL. A COMPARATIVE ANALYSIS OF THE PRESIDENT'S ANNUAL COMPENSATION IS REVIEWED BY THE P&PC USING SOURCES SUCH AS INDEPENDENT SALARY SURVEYS, REVIEW OF FORM 990S AND OTHER INFORMATION AS IT IS AVAILABLE. TO ENSURE THE INDEPENDENCE AND OBJECTIVITY OF THE COMPARATIVE REVIEW, THE DATA AND ANALYSIS IS PREPARED BY SOMEONE OTHER THAN THE PRESIDENT. IN REGARDS TO OTHER OFFICERS AND KEY EMPLOYEES, THE PRESIDENT PERFORMS A SIMILAR PROCESS USING INDEPENDENT SALARY SURVEY DATA TO DETERMINE COMPENSATION. THESE PROCESSES WERE LAST UNDERTAKEN IN 2023. FORM 990, PART VI, SECTION C, LINE 19 CLARK-LINDSEY HOLDINGS, INC.'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST FOR PUBLIC INSPECTION. FORM 990, PART XI, LINE 9: EQUITY TRANSFER -37,362. CHANGE IN FV OF INTEREST RATE SWAP 88,049. FORM 990, PART XII, LINE 2C: THE PROCESS FOR REVIEW AND OVERSIGHT OF THE AUDIT PROCESS IS CONSISTENT WITH PRIOR YEARS. CLARK-LINDSEY VILLAGE INC 101 W WINDSOR RD URBANA IL 61802 371017284 SENIOR CITIZENS HOUSING & RETIREMENT COMMUNITIES IL 501(C)(3) LINE 10 LINDSEY COMMUNITIES INC 0 LINDSEY MANAGEMENT SERVICES INC 101 W WINDSOR RD URBANA IL 61802 861970355 SENIOR CITIZENS HOUSING & RETIREMENT COMMUNITIES IL 501(C)(3) LINE 10 LINDSEY COMMUNITIES INC 0 LINDSEY COMMUNITIES INC 101 W WINDSOR RD URBANA IL 61802 861934798 SENIOR CITIZENS HOUSING & RETIREMENT COMMUNITIES IL 501(C)(3) LINE 10 N/A 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1