2024-11-07T09:52:25-06:00 2023-12-31 161131146 BONADIO & CO LLP 171 SULLYS TRAIL PITTSFORD NY 14534 990 2023-01-01 161597251 CLOVERWOOD SENIOR LIVING INC CLOV 5852481100 ONE SINCLAIR DRIVE PITTSFORD NY 14534 CHRISTINE JOHNSON CFO 5852188869 2024-11-05 1 0 KELLEY DEMONTE P01382609 5853811000 2023 2024-10-15 13:58:12Z GLEN COOPER 3156 EAST AVENUE ROCHESTER NY 14618 17645388 0 X WWW.CLOVERWOOD.ORG X 2000 NY CLOVERWOOD IS AN EXCEPTIONAL SENIOR LIVING COMMUNITY THAT ENABLES RESIDENTS TO ENJOY AN ACTIVE AND INDEPENDENT LIFESTYLE WITH COMPANIONSHIP AND PEACE OF MIND IN A STIMULATING AND SECURE ENVIRONMENT. 8 8 277 15 0 0 345855 172075 12675139 13260447 654013 234834 453001 501556 14128008 14168912 0 0 0 0 5315600 6319867 0 0 0 7960351 8617931 13275951 14937798 852057 -768886 44052123 46497607 65242324 67149134 -21190201 -20651527 CLOVERWOOD IS AN EXCEPTIONAL SENIOR LIVING COMMUNITY THAT ENABLES RESIDENTS TO ENJOY AN ACTIVE AND INDEPENDENT LIFESTYLE WITH COMPANIONSHIP AND PEACE OF MIND IN A STIMULATING AND SECURE ENVIRONMENT. 0 0 10901634 13260447 OPERATED A SENIOR LIVING COMMUNITY CONSISTING OF 150 INDEPENDENT LIVING UNITS (64 PATIO HOMES AND 86 APARTMENTS) AND 57 ENRICHED LIVING UNITS. 10901634 1 0 0 0 0 0 1 0 0 0 1 0 0 0 1 0 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 1 0 0 0 1 37 0 1 277 1 0 0 0 0 0 0 0 0 0 0 0 0 X 8 8 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X X CHRISTINE JOHNSON 5857893211 ONE SINCLAIR DRIVE PITTSFORD NY 14534 EDWARD CARMAN IV DIRECTOR 1.00 X 0 0 0 JEAN MAESS CHAIRPERSON 1.00 X X 0 0 0 ROBERT PARKER SECRETARY 1.00 X X 0 0 0 STANLEY PECK VICE CHAIRPERSON 1.00 X X 0 0 0 KEVIN PHELPS TREASURER 1.00 X X 0 0 0 KIMBERLY WILBORN DIRECTOR 1.00 X 0 0 0 FRANK ALLEN DIRECTOR 1.00 X 0 0 0 ROBERT LOWENTHAL JR DIRECTOR 1.00 X 0 0 0 GLEN COOPER CEO 1.00 39.00 X 0 493963 0 CHRISTINE JOHNSON CFO 1.90 38.10 X 0 222110 5297 TAMARA STOUT MARKETING DIRECTOR 40.00 X 105252 0 12344 KATHLEEN WILLIAMS DIRECTOR OF HUMAN RESOURCE 40.00 X 122157 0 0 MICHAEL MACRI EXECUTIVE CHEF 40.00 X 131358 0 5673 MICHAEL PERROTTA SENIOR VP OF HOUSING 40.00 X 216073 0 12891 574840 716073 36205 4 0 1 0 0 172075 172075 NET RESIDENT REVENUE 623000 13260447 13260447 13260447 327504 327504 3366975 3459645 -92670 -92670 -92670 30008 16831 13177 13177 OTHER OPERATING REVENUE 900099 321497 321497 RESIDENT/GUEST MEALS 900099 105741 105741 BEAUTY SHOP 900099 43441 43441 17700 17700 488379 14168912 13669333 0 327504 5103598 4126026 977572 220589 186650 33939 539215 456252 82963 456465 386234 70231 44441 44441 37645 37645 69823 69823 271510 231415 40095 400703 400703 24821 24821 313281 313281 1744803 724034 1020769 5594 5594 743565 743565 2283194 2283194 FOOD AND NUTRITION SERV 1601805 1601805 ADMINISTRATION AND FINA 596246 596246 HOUSEKEEPING SERVICES 261352 261352 RESIDENT SERVICES 123142 123142 96006 96006 14937798 10901634 4036164 0 1355479 1783934 365100 385390 154558 177651 630312 524336 64480465 34739284 28713202 29741181 12088167 13527444 745305 357671 44052123 46497607 1315900 1629762 45537258 47328624 17585926 17177197 803240 1013551 65242324 67149134 X -21754381 -21235497 564180 583970 -21190201 -20651527 44052123 46497607 X -768886 1275624 31936 X X 0 1 X 1 0 X 773022 133371 912812 345855 172075 2337135 11732763 11377863 12919645 13111338 13744303 62885912 12505785 11511234 13832457 13457193 13916378 65223047 0 0 0 65223047 243211 286202 315974 404263 327504 1577154 243211 286202 315974 404263 327504 1577154 12748996 11797436 14148431 13861456 14243882 66800201 0.97640 0.97730 0.02360 0.02270 X X 1 6.00 1 1 2594694 2594694 40024828 17863264 22161564 15039112 12223768 2815344 6821831 4652252 2169579 29741181 ENTERENCE FEE DEPOSITS 169029 INTEREST RATE SWAP LIABILITY 495977 REFUNDABLE ENTRANCE FEES 348545 1013551 15456182 1275624 11646 1287270 14168912 0 14168912 14867975 0 14867975 69823 69823 14937798 PART II, LINE 9: THE SIX ACRES OF EASEMENT TOGETHER WITH THE OTHER 35 ACRES OF LAND THAT THE ORGANIZATION OWNS IS REPORTED ON THE BALANCE SHEET AS PROPERTY AND EQUIPMENT. PART XI, LINE 2D: DURING 2022, CLOVERWOOD ENTERED INTO A HEDGING AGREEMENT WITH RESPECT TO INTEREST RATE EXPOSURE ON THE SERIES 2022 BONDS. CLOVERWOOD USES THE INTEREST RATE SWAP AGREEMENT TO REDUCE ITS EXPOSURE TO INTEREST RATE CHANGES. THE SWAP AGREEMENT EFFECTIVELY CONVERTS A PORTION OF THE VARIABLE RATE DEBT TO A LONG-TERM FIXED RATE. UNDER THIS AGREEMENT, CLOVERWOOD RECEIVED A VARIABLE RATE BASED ON A CALCULATION OF 79% OF THE CME GROUP SECURED OVERNIGHT FINANCING RATE (CME SOFR) ONE MONTH RATE PLUS 1.10%. THE MARK-TO-MARKET FAIR VALUE OF THE INTEREST RATE SWAP AGREEMENT RESULTED IN A UNREALIZED GAIN OF $11,646. X 1 1 X X X X 0 0 0 0 0 0 0 0 0 GLEN COOPER CEO 0 410271 0 67866 0 15826 0 0 0 0 0 493963 0 0 MICHAEL PERROTTA SENIOR VP OF HOUSING 196081 0 19720 0 272 0 0 0 0 12891 216073 12891 0 0 CHRISTINE JOHNSON CFO 0 199874 0 19782 0 2454 0 0 0 5297 0 227407 0 0 A VILLAGE OF EAST ROCHESTER HOUSING AUTHORITY 161497561 2022-11-09 18051908 REDEEM THE SERIES 2013 AND SERIES 2009 BONDS 0 0 0 A 18051908 17570354 290218 191336 2022 1 0 1 1 A 0 0 0 0 0 0 1 A 1 1 1 THE HUNTINGTON NATIONAL BANK 10.000000000000 0 0 0 0 0 A 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN OUTSIDE, INDEPENDENT ACCOUNTING FIRM. A COPY OF THE 990 IS PROVIDED TO EACH BOARD MEMBER FOR INDEPENDENT REVIEW PRIOR TO FILING THE RETURN. THE FORM 990 IS THEN DISCUSSED AT A SUBSEQUENT BOARD MEETING; COPIES OF THE 990 ARE ALSO AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 12C THE DIRECTOR OF FINANCE REVIEWS VENDORS FOR RELATIONSHIPS TO STAFF AND BOARD MEMBERS. THE EXECUTIVE DIRECTOR/VICE PRESIDENT IS DESIGNATED BY THE BOARD OF TRUSTEES TO BE RESPONSIBLE FOR IMPLEMENTING TAX POLICIES AND REPORTING ANY KNOWN CONFLICTS TO THE BOARD. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE ORGANIZATION'S EXECUTIVE DIRECTOR/VICE PRESIDENT IS ESTABLISHED BY THE BOARD OF DIRECTORS, UPON RECOMMENDATION OF THE PRESIDENT/CEO, TAKING INTO CONSIDERATION COMPENSATION SURVEY DATA FOR COMPARABLE POSITIONS IN SIMILAR ORGANIZATIONS AND THE RESULTS OF ANNUAL PERFORMANCE REVIEWS. THE ORGANIZATION'S EXECUTIVE DIRECTOR/VICE PRESIDENT HAS NO INVOLVEMENT IN THE PROCESS OF ESTABLISHING COMPENSATION FOR THE POSITION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES AVAILABLE ALL DOCUMENTS AND FINANCIAL STATEMENTS AS REQUIRED BY THE RULES AND REGULATIONS GOVERNING NON-PROFIT, TAX-EXEMPT ORGANIZATIONS. AUDITED FINANCIAL STATEMENTS ARE DISCLOSED IN THE ORGANIZATION'S OFFERING PLAN DOCUMENT AS REQUIRED BY REGULATIONS OF THE NEW YORK STATE DEPARTMENT OF LAW. IN ADDITION, THE ORGANIZATION'S FORM 990 IS AVAILABLE TO THE PUBLIC ON WWW.GUIDESTAR.ORG. FORM 990, PART XI, LINE 9: CHANGE IN INTEREST RATE SWAP 11,646. CONTRIBUTION INCOME 20,290. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED ITS FINANCIAL STATEMENT OVERSIGHT PROCESS NOR ITS INDEPENDENT ACCOUNTANT SELECTION PROCESS FROM THE PRIOR YEAR. ROCHESTER FRIENDLY SENIOR SERVICES DBA FRIENDLY SENIOR LIVING 3156 EAST AVENUE ROCHESTER NY 14618 161462330 SUPPORTING ORGANIZATION NY 501(C)(3) LINE 12B, II N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0