2025-08-14T13:54:13-05:00 2024-09-30 410746749 CLIFTONLARSONALLEN LLP 227 WEST TRADE STREET SUITE 800 CHARLOTTE NC 28202 990 2023-10-01 540988608 WESTMINSTER-CANTERBURY OF LYNCHBURG INC WEST 4343863533 501 VES ROAD LYNCHBURG VA 24503 PAUL SHELTON VP & CFO 4343863533 2025-08-14 1 1 KATHERINE A WARLICK P02065266 7049985200 2025-08-14 2023 2025-03-06 01:10:19Z WESTMINISTER-CANTERBURY OF LYNCHBURG PAUL SHELTON 501 VES ROAD LYNCHBURG VA 24503 38670775 0 X WWW.WCLYNCHBURG.ORG X 1975 VA TO OPERATE A NOT-FOR-PROFIT CONTINUING CARE RETIREMENT COMMUNITY GUIDED BY CHRISTIAN IDEALS. 16 16 506 1411 0 0 2714763 895247 32200096 35418216 1136506 1226986 841037 1130326 36892402 38670775 0 0 0 0 20329624 20634804 0 0 244765 15254803 15586727 35584427 36221531 1307975 2449244 144600945 147411691 128883175 127293192 15717770 20118499 THE MISSION OF WCL IS TO OPERATE A NOT-FOR-PROFIT CONTINUING CARE RETIREMENT COMMUNITY GUIDED BY CHRISTIAN IDEALS WHICH PROMOTE INDEPENDENCE AND DIGNITY, PROVIDING QUALITY HOUSING, HEALTH CARE AND SECURITY TO RESIDENTS IN A FISCALLY RESPONSIBLE MANNER. 0 0 35196509 36548542 WCL IS DESIGNED TO OPERATE A NONPROFIT CONTINUING CARE RETIREMENT COMMUNITY, GUIDED BY CHRISTIAN IDEALS WHICH PROMOTE INDEPENDENCE AND DIGNITY, PROVIDING QUALITY HOUSING, HEALTH CARE AND SECURITY TO RESIDENTS IN A FISCALLY RESPONSIBLE MANNER. WCL HAD TOTAL OF 423 UNITSACROSS INDEPENDENT LIVING, ASSISTED LIVING, AND THE HEALTH CENTER, WITH APPROXIMATELY 94.4% OF THE INDEPENDENT LIVING UNITS OCCUPIED AS OF SEPTEMBER 30, 2024. WCL IS COMMITTED TO A PROGRAM OF SERVICES WHICH PROVIDE RESIDENTS WITH HOUSING, HEALTHCARE, SECURITY AND A VARIETY OF ACTIVITIES AND SERVICES. 35196509 1 1 0 0 0 0 0 0 0 0 1 1 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 1 0 0 0 1 44 0 1 506 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 1 1 1 1 1 1 1 1 0 X X X PAUL SHELTON 4343863533 501 VES ROAD LYNCHBURG VA 24503 ELIZABETH M CONZEN CHAIR 1.00 0.00 X X 0 0 0 MARK A STROSNIDER VICE CHAIR 1.00 0.00 X X 0 0 0 SUSAN G ACKLEY THRU 22024 TRUSTEE 1.00 0.00 X 0 0 0 PATTIE W AMES TRUSTEE 1.00 0.00 X 0 0 0 MARCUS P BOREL TRUSTEE 1.00 0.00 X 0 0 0 PAMELA S BRADFORD TRUSTEE 1.00 0.00 X 0 0 0 DAVID W FRANTZ MD TRUSTEE 1.00 0.00 X 0 0 0 DANIEL L FRAZIER TRUSTEE 1.00 0.00 X 0 0 0 BECKY W GILES TRUSTEE 1.00 0.00 X 0 0 0 MELISSA W JOHNSON TRUSTEE 1.00 0.00 X 0 0 0 ELIZABETH B LAUNDON TRUSTEE 1.00 0.00 X 0 0 0 ROBERT S LOCKRIDGE JR MD TRUSTEE 1.00 0.00 X 0 0 0 ANNE R MCVEIGH TRUSTEE 1.00 0.00 X 0 0 0 ROBERT M O'BRIAN SR TRUSTEE 1.00 0.00 X 0 0 0 WILLIAM W PERKINS TRUSTEE 1.00 0.00 X 0 0 0 PATRICIA H PRICE TRUSTEE 1.00 0.00 X 0 0 0 THOMAS R STEVENS TRUSTEE 1.00 0.00 X 0 0 0 WILLIAM A STUART II THRU 22024 TRUSTEE 1.00 0.00 X 0 0 0 SEAN HUYETT PRESIDENT/CEO 38.00 2.00 X 351278 0 72219 PAUL SHELTON VP/CFO 38.00 2.00 X 205938 0 15927 LAURA HUNTER DIRECTOR OF MARKETING 40.00 0.00 X 163906 0 4083 LORI SWEENEY VP HEALTH SERVICES 40.00 0.00 X 136113 0 10423 ROBERT CLOSS DIRECTOR OF INFORMATION SYSTEMS 40.00 0.00 X 119332 0 18097 ASHLEY LAWSON DIRECTOR OF NURSING SERVICES 40.00 0.00 X 114336 0 14139 MARIANNE SANFORD VP MARKETING & DEVELOPMENT 38.00 2.00 X 111347 0 18019 1202250 0 152907 8 0 1 0 COLONIAL BUILDERS INC PO BOX 559 RUSTBURG VA 24588 CONSTRUCTION RENOVATION 209855 JAMISON ELECTRIC COMPANY INC 1345 ALGOMA RD CALLAWAY VA 24067 HVAC 201896 SALE CUSTOM CABINETRY 120 SYLVAN LN AMHERST VA 24521 CUSTOM CABINETS 120480 ENTERPRISE TECHNOLOGIES INC PO BOX 10624 LYNCHBURG VA 24506 COMPUTER EQUIPMENT AND CONSULTING 112272 4 319335 575912 895247 RESIDENTIAL SVCS 623000 18577233 18577233 HEALTH CARE SVCS 623000 10038614 10038614 ASSISTED LIVING & MEMO 623000 3474176 3474176 COMMUNITY SVCS 623000 2921478 2921478 406715 406715 35418216 1120936 1120936 105050 1000 0 0 105050 1000 106050 106050 MEALS AND LODGING 623000 397418 397418 MISCELLANEOUS 623000 391386 391386 APARTMENT/COTTAGE UPGR 623000 200198 200198 141324 141324 1130326 38670775 36548542 0 1226986 645362 602445 39367 3550 15873548 15489558 205641 178349 2246665 2097139 137144 12382 1869229 1809420 38247 21562 17792 17190 602 21654 20922 732 87596 84634 2962 180481 148182 32299 5068 5068 968163 944922 14661 8580 1911937 1865480 45463 994 133588 105278 21921 6389 2374594 2318316 56278 5201210 5076296 124914 RAW FOOD EXPENSE 1901341 1901341 PHARMACY 479863 479863 THERAPY 6697 6697 2296743 2228826 54958 12959 36221531 35196509 780257 244765 2840433 4244784 1768515 2211560 300511 416158 526802 665012 181374951 84206772 98413480 97168179 30854526 35524496 9896678 7181502 144600945 147411691 2579728 2845549 55859956 56349966 69320854 67204037 1122637 893640 128883175 127293192 X 10730798 13003695 4986972 7114804 15717770 20118499 144600945 147411691 X 2449244 5273125 -3321640 X 0 1 X 1 0 X 899269 3104801 551798 2714763 895247 8165878 30017807 29100793 30418188 33041133 36548542 159126463 30917076 32205594 30969986 35755896 37443789 167292341 0 0 0 167292341 979167 713014 391806 1029858 1120936 4234781 979167 713014 391806 1029858 1120936 4234781 369186 369186 32265429 32918608 31361792 36785754 38564725 171896308 0.97320 0.96780 0.02460 0.02510 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: MISCELLANEOUS SERVICES TO RESIDENTS - 2019 AMOUNT: $ 369,186. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 857817 857817 145549153 64350396 81198757 30820076 18155495 12664581 4147905 1700881 2447024 97168179 VANGAURD INVESTMENT 35524496 F 35524496 REFUNDABLE RESERVATION DEPOSIT 402000 ADVANCE FEE DEPOSITS 229188 ANNUITIES PAYABLE 48212 MISCELLANEOUS 214240 893640 X PART X, LINE 2: THE CORPORATION IS A NOT-FOR-PROFIT ORGANIZATION EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501 (C)(3). WESTMINSTER CANTERBURY OF LYNCHBURG, INC. FILES AS A TAX EXEMPT ORGANIZATION. MANAGEMENT IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE TAX-EXEMPT STATUS OF THE ORGANIZATION. MANAGEMENT IS NOT AWARE OF ANY SIGNIFICANT ACTIVITIES THAT ARE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME OR EXCISE OR OTHER TAXES FOR THE ORGANIZATION. WESTMINSTER CANTERBURY OF LYNCHBURG, INC. FOLLOWS GUIDANCE IN THE INCOME TAX STANDARD REGARDING RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. THE GUIDANCE HAS HAD NO IMPACT ON THE CORPORATION'S CONSOLIDATED FINANCIAL STATEMENTS. X X X 0 1 0 0 0 0 0 0 0 SEAN HUYETT PRESIDENT/CEO 320278 0 0 0 31000 0 50293 0 21926 0 423497 0 0 0 PAUL SHELTON VP/CFO 175938 0 0 0 30000 0 15927 0 0 0 221865 0 0 0 LAURA HUNTER DIRECTOR OF MARKETING 143489 0 0 0 20417 0 4083 0 0 0 167989 0 0 0 PART I, LINE 4B DURING THE YEAR, THE ORGANIZATION CONTRIBUTED THE FOLLOWING AMOUNTS TO A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN: SEAN HUYETT $20,000 PAUL SHELTON $10,000 A ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF LYNCHBURG VA 541225193 NONEAVAIL 2016-08-01 10845818 REFUNDING OF SERIES 2005 BONDS AND FINANCING OF VARIOUS CAPITAL RENOVATIONS 0 0 0 B ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF LYNCHBURG VA 541225193 NONEAVAIL 2017-04-05 18580411 REFUNDING OF SERIES 2007 BONDS AND FINANCING 0 0 0 C ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF LYNCHBURG VA 541225193 NONEAVAIL 2017-09-01 38203000 SWAP AGREEMENT FOR FUNDING CONTRUCTION AND EQUIPMENT OF HEALTH CARE CENTER 0 0 0 D ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF LYNCHBURG VA 541255193 NONEAVAIL 2021-09-22 13500000 CONSTRUCTION, RENOVATION AND PURCHASE OF FIXED ASSETS 0 0 0 A 2243054 10845818 209954 9000000 1635864 2016 1 0 1 1 B 8945972 18580411 214132 18366279 1 0 1 1 C 1059872 38203000 461100 37741900 2019 0 0 0 1 D 428541 13500000 181317 13318683 2023 0 0 0 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0 0 1 D 0 0 0 0 0 0 1 A 0 0 0 1 1 1 TRUIST 12.900000000000 0 0 0 0 1 B 0 0 0 1 1 1 TRUIST 6.750000000000 0 0 0 0 1 C 0 0 0 1 0 1 TRUIST 12.750000000000 0 0 0 0 1 D 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 D 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF LYNCHBURG, VA DATE THE REBATE COMPUTATION WAS PERFORMED: 08/31/2019 ISSUER NAME: ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF LYNCHBURG, VA DATE THE REBATE COMPUTATION WAS PERFORMED: 04/05/2022 ISSUER NAME: ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF LYNCHBURG, VA DATE THE REBATE COMPUTATION WAS PERFORMED: 08/31/2022 FORM 990, PART VI, SECTION A, LINE 1A ALL THE MEMBERS OF THE EXECUTIVE COMMITTEE ARE MEMBERS OF THE GOVERNING BODY. TO DISCUSS AND VOTE AN MATTERS OF URGENCY BETWEEN BOARD MEETINGS. FORM 990, PART VI, SECTION B, LINE 11B THE FINANCE COMMITTEE IS RESPONSIBLE FOR THE REVIEW OF THE FORM 990. IN ADDITION, A COPY IS EMAILED TO EACH BOARD MEMBER AND VOTED ON IN THE ANNUAL MEETING. FORM 990, PART VI, SECTION B, LINE 12C TO ENSURE THE CORPORATION OPERATES IN A MANNER CONSISTENT WITH CHARITABLE PURPOSES AND DOES NOT ENGAGE IN ACTIVITIES THAT COULD JEOPARDIZE ITS TAX EXEMPT STATUS, PERIODIC REVIEWS SHALL BE CONDUCTED. THE PERIODIC REVIEWS SHALL, AT A MINIMUM, INCLUDE THE FOLLOWING SUBJECTS: A. WHETHER COMPENSATION ARRANGEMENTS AND BENEFITS ARE REASONABLE, BASED ON COMPETENT SURVEY INFORMATION, AND THE RESULT OF ARM'S LENGTH BARGAINING. B. WHETHER PARTNERSHIPS, JOINT VENTURES, AND ARRANGEMENTS WITH MANAGEMENT ORGANIZATIONS CONFORM TO THE CORPORATION'S WRITTEN POLICIES, ARE PROPERLY RECORDED, REFLECT REASONABLE INVESTMENT OR PAYMENTS FOR GOODS AND SERVICES, FURTHER CHARITABLE PURPOSES AND DO NOT RESULT IN INUREMENT, IMPERMISSIBLE PRIVATE BENEFIT OR IN AN EXCESS BENEFIT TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15 IN THE PAST, THE BOARD OF TRUSTEES HAS ENGAGED A FIRM THAT SPECIALIZES IN EXECUTIVE COMPENSATION TO REVIEW THE TOTAL COMPENSATION PACKAGE FOR THE CEO. FROM THAT REVIEW, THE ORGANIZATION HAS CONTINUED TO UPDATE THE CEO'S SALARY ON AN ANNUAL BASIS. ALSO, IN CONJUNCTION WITH THE CEO COMPENSATION ENGAGEMENT, THE FIRM PERFORMED A REVIEW OF SENIOR LEVEL STAFF COMPENSATION. THE ORGANIZATION ALSO USES THAT REVIEW AS A BASIS FOR ANNUAL COMPENSATION ADJUSTMENTS. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2024. FORM 990, PART VI, SECTION C, LINE 18 COPIES OF THE FORM 990 ARE PLACED IN THE RESIDENT LIBRARY FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE PUBLISHED IN THE RESIDENT LIBRARY AND PROVIDED ELECTRONICALLY ON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF INTEREST RATE SWAP AGREEMENTS -3,491,654. INCREASE IN FAIR VALUE OF BENEFICIAL TRUST FUND 119,961. INCREASE IN FAIR VALUE OF PERPETUAL TRUST FUNDS 325,939. RELEASED FROM RESTRICTIONS -276,617. MISCELLANEOUS ADJUSTMENT TO NET ASSETS 731. THE WESTMINSTER CANTERBURY OF LYNCHBURG FOUNDATION INC 501 VES ROAD LYNCHBURG VA 24503 205521424 TO SUPPORT THE MISSION OF WESTMINSTER CANTERBURY OF LYNCHBURG VA 501(C)(3) LINE 12A, I WESTMINSTER-CANTERBURY OF LYNCHBURG 1 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 THE WESTMINSTER CANTERBURY OF LYNCHBURG FOUNDATION INC C 341089 DIRECT TRANSFER