2025-02-13T11:48:40-06:00 2024-09-30 410746749 CLIFTONLARSONALLEN LLP 227 WEST TRADE STREET SUITE 800 CHARLOTTE NC 28202 990 2023-10-01 561443222 SOUTHMINSTER INC SOUT 7045516800 8919 PARK ROAD CHARLOTTE NC 28210 KENDA LAUGHEY CHIEF FINANCIAL OFFICER 7045516800 2025-02-12 1 1 KATHERINE A WARLICK P02065266 7049985200 2025-02-12 2023 2025-03-06 01:10:19Z BEN GILCHRIST 8919 PARK ROAD CHARLOTTE NC 28210 64693940 0 X WWW.SOUTHMINSTER.ORG X 1984 NC TO PROVIDE CONTINUING CARE TO RESIDENTS OF SOUTHMINSTER, INC. 13 13 670 80 0 0 876153 951731 48629254 46206814 1456424 1475138 286015 290294 51247846 48923977 1424767 1576681 0 0 21208683 22681850 17500 7500 170507 28626495 29492928 51277445 53758959 -29599 -4834982 248725124 243833517 264810838 260929889 -16085714 -17096372 AT SOUTHMINSTER, OUR MISSION IS TO EMBRACE COMMUNITY, CARING AND COLLABORATION TO ENRICH THE LIVES OF THOSE WE SERVE. WE ARE SOUTHMINSTER. 0 0 47528911 1576681 46206814 CONTINUING CARE RETIREMENT COMMUNITYPROVIDE A CONTINUUM OF SERVICES (INDEPENDENT LIVING, ASSISTED LIVING, NURSING) TO OLDER ADULTS THAT ALLOWS THEM TO LIVE INDEPENDENTLY AND AS ACTIVELY AS THEIR FACULTIES AND STRENGTH PERMIT. 47528911 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 123 0 670 1 0 0 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 0 0 1 1 1 0 0 1 1 1 1 1 1 1 1 0 SC X KENDA LAUGHEY 7045516800 8919 PARK ROAD CHARLOTTE NC 28210 REV ROBIN COIRA CHAIR 1.00 X X 0 0 0 CHARLES H CONNER JR VICE CHAIR/TREASURER 1.00 X X 0 0 0 SUSAN R SALVIN VICE CHAIR/SECRETARY 1.00 X X 0 0 0 FRANK HORNE JR VICE CHAIR 1.00 X X 0 0 0 SUZANNE G BLEDSOE BOARD MEMBER 1.00 X 0 0 0 REV LISA SAUNDERS EX OFFICIO 1.00 X 0 0 0 MARYANN LARGEN VICE CHAIR 1.00 X X 0 0 0 ROY L SMART III BOARD MEMBER 1.00 X 0 0 0 GLORIA GIBSON BOARD MEMBER 1.00 X 0 0 0 EDWARD T HINSON JR BOARD MEMBER 1.00 X 0 0 0 JACK COOK BOARD MEMBER 1.00 X 0 0 0 LARRY DAGENHART BOARD MEMBER 1.00 X 0 0 0 REV CARRIE VEAL EX OFFICIO (2/24-PRESENT) 1.00 X 0 0 0 BEN GILCHRIST PRESIDENT & CEO 39.00 1.00 X 477426 0 68008 KENDA LAUGHEY CFO/ASST TREASURER 39.00 1.00 X 279069 0 46574 ARNOLDO MARQUEZ COO/ASST SEC 40.00 0.00 X 207942 0 32668 STEWART WILEY VP OF MARKETING 40.00 X 178472 0 33347 TERESA LEWIS CONTROLLER 40.00 X 145407 0 42125 LISA MCCLELLAN VP OF HUMAN RESOURCES 40.00 X 138022 0 35099 JOSH NOLAND DIRECTOR OF CAMPUS FACILITIES 40.00 X 150311 0 33751 TRACY MCGINNIS VP OF PHILANTHROPY AND STRATEGIC INITIATIVES 40.00 X 133463 0 24479 1710112 0 316051 13 0 1 0 SYSCO CHARLOTTE LLC 4500 CORPORATE DRIVE NW CONCORD NC 28027 FOOD DISTRIBUTOR 586821 DLS VENTURES LLC (CONSTRUCTION TECHNOLOG PO BOX 2788 INDIAN TRAIL NC 28079 CONSTRUCTION/RENOVATION 544161 BLUEWATER DESIGN-BUILD LLC PO BOX 955 DAVIDSON NC 28036 ARCHITECT/CONSTRUCTION 227752 FORVIS LLC PO BOX 602828 CHARLOTTE NC 282602828 CONSULTING SERVICES 216721 CULINESSE LLC 250 WYANDOTTE ST BETHLEHEM PA 18015 CULINARY MANAGEMENT SERVICES 195904 7 951731 17510 951731 INDEPENDENT LIVING 623000 21897397 21897397 HEALTHCARE REVENUE 623000 10432194 10432194 EARNED ENTRANCE FEES 900099 9110064 9110064 HOME CARE REVENUE 623000 3508150 3508150 1259009 1259009 46206814 1126243 1126243 290294 0 290294 290294 290294 16118858 15734853 35110 384005 -35110 348895 348895 48923977 46206814 0 1765432 641139 641139 935542 935542 1194850 265962 928888 16857931 14993494 1789685 74752 440845 363176 76771 898 2897377 2515785 369324 12268 1290847 1121177 164237 5433 15825 15825 81024 81024 7500 7500 150622 150622 386819 108611 278208 208055 208055 184311 76136 108175 546506 14662 531844 1741196 1741196 1158 870 109 179 109485 65403 44082 7516747 7420465 96282 12388365 12230039 158326 455459 455459 DIETARY SUPPLIES 2135459 2135459 REPAIRS AND MAINTENANCE 1097080 1097080 PROGRAM SUPPLIES 361281 361281 2113536 1441434 602625 69477 53758959 47528911 6059541 170507 385922 699431 821067 485185 303670 161140 602715 462723 79978 108389 1688654 1720953 309187678 113939264 203386802 195248414 36326624 40012289 5129692 4934993 248725124 243833517 4126944 3374561 98382893 98624370 142793390 135737808 19330000 19685546 177611 3507604 264810838 260929889 X -16604827 -17518922 519113 422550 -16085714 -17096372 248725124 243833517 -4834982 3824324 0 X X 0 1 X 1 0 X 788991 1620058 3296476 876153 951731 7533409 31800030 34381967 40336896 48629254 46206814 201354961 32589021 36002025 43633372 49505407 47158545 208888370 319233 729594 612449 1027524 1034290 3723090 36374 237847 274221 355607 729594 850296 1027524 1034290 3997311 204891059 1133822 1892081 1313095 1302580 1416537 7058115 1133822 1892081 1313095 1302580 1416537 7058115 33722843 37894106 44946467 50807987 48575082 215946485 0.94880 0.94840 0.03270 0.03500 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 513 513 0 PART II-B, LINE 1, LOBBYING ACTIVITIES SOUTHMINSTER'S STATE AND NATIONAL INDUSTRY ASSOCIATIONS LOBBY FOR LEGISLATION TO POSITIVELY IMPACT THE LIVES OF SENIORS, SUCH AS MAINTAINING CERTAIN TYPES OF TAX EXEMPTION. 2154813 2154813 292074423 104714823 187359600 10931055 7778754 3152301 4027387 1445687 2581700 195248414 RIGHT-OF-USE LEASE LIABILITY 134870 ACCRUED BOND INTEREST EXPENSE 3372734 3507604 X PART X, LINE 2: THE CORPORATION HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE AS EXEMPT FROM INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3). THE CORPORATION IS CLASSIFIED AS A PUBLIC CHARITY UNDER SECTION 509A(2) OF THE INTERNAL REVENUE CODE. THE CORPORATION FILES AS A TAX-EXEMPT ORGANIZATION. THE CORPORATION IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE ITS TAX-EXEMPT STATUS. THE CORPORATION IS NOT AWARE OF ANY ACTIVITIES THAT ARE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME OR EXCISE OR OTHER TAXES. THE CORPORATION ADOPTED GUIDANCE IN THE INCOME TAX STANDARD REGARDING RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. THE IMPLEMENTATION HAS HAD NO IMPACT ON THE CORPORATION'S FINANCIAL STATEMENTS. 1 ALZHEIMER'S ASSOCIATION - WESTERN CAROLINA CHAPTER 4600 PARK ROAD STE 250 CHARLOTTE NC 28209 133039601 501(C)(3) 11418 1036 TO PROMOTE RESEARCH FOR THE CURE OF ALZHEIMER'S DISEASE ARTS 345 N COLLEGE STREET STE 413 CHARLOTTE NC 28202 591356847 501(C)(3) 42500 0 SOUTHMINSTER SCHOLAR, SENIOR PROGRAMMING AT THE RETREAT, PROGRAMMING WITH STEAM ACADEMY AT REN WEST, PROGRAMMING FOR GEP, GENERAL OPERATING FUNDS, AND ARTSREACH WITH ADDITIONAL PARTNERS. CHARLOTTE MECKLENBURG LIBRARY 310 N TRYON ST CHARLOTTE NC 28202 461172548 MECKLENBURG COUNTY 27000 0 SPONSORSHIP CHARLOTTE VILLAGE NETWORK PO BOX 32544 CHARLOTTE NC 28232 474800673 501(C)(3) 20000 0 CONTINUED SUPPORT CHARLOTTE MECKLENBURG POLICE FOUNDATION PO BOX 32084 CHARLOTTE NC 28232 200422513 501(C)(3) 10000 0 DONATION GOOD FELLOWS CLUB INC PO BOX 34708 CHARLOTTE NC 282344708 566044762 501(C)(3) 10000 0 ANNUAL CHRISTMAS LUNCHEON SPONSORSHIP MEMORY & MOVEMENT CENTER CHARLOTTE 300 BILLINGSLEY RD STE 108 CHARLOTTE NC 28211 464329944 501(C)(3) 37500 0 TO PROVIDE SCHOLARSHIPS POTIONS & PIXELS 520 E 18TH ST CHARLOTTE NC 28203 850509370 501(C)(3) 83000 0 AGING & POVERTY SIMULATION DEVELOPMENT QUEENS UNIVERSITY 1900 SELWYN AVE CHARLOTTE NC 28274 560530003 501(C)(3) 17000 0 DONATIONS SUPPORTING FRIENDS OF THE LIBRARY AND ESTATE PLANNERS DAY SUSTAIN CHARLOTTE PO BOX 18201 CHARLOTTE NC 28218 010975452 501(C)(3) 70000 0 FUNDING TO HELP SUPPORT COMMUNITY EDUCATION PROGRAMMING THE IVEY 6030 PARK DRIVE CHARLOTTE NC 28210 264197696 501(C)(3) 100000 0 CONTINUED SUPPORT THE SHEPHERD'S CENTER OF CHARLOTTE 300 HAWTHORNE LN CHARLOTTE NC 282042434 561271236 501(C)(3) 117000 435 TO SUPPORT SENIOR PROGRAMMING AND SERVICES IN THE GREATER CHARLOTTE COMMUNITY UNC CHARLOTTE 9201 UNIVERSITY CITY BLVD CHARLOTTE NC 28223 560791228 NORTH CAROLINA 50775 0 SUPPORTING FAMILY CAREGIVERS GREATER ENRICHMENT PROGRAM 2035 PATTON AVE CHARLOTTE NC 28216 561139792 501(C)(3) 0 11109 SUPPORT AFTERSCHOOL ENRICHMENT PROGRAMMING SUPPORT AFTERSCHOOL ENRICHMENT PROGRAMMING 14 0 RESIDENT ASSISTANCE 10 935542 PART I, LINE 2: THE DIRECTOR OF PHILANTHROPY WORKS WITH A COMMITTEE OF THE SOUTHMINSTER BOARD TO DETERMINE AREAS OF NEED IN THE OUTSIDE COMMUNITY THAT ALIGN WITH SOUTHMINSTER'S MISSION. GRANTS TO INDIVIDUAL RESIDENTS ARE APPLIED TO INDIVIDUAL RESIDENT ACCOUNTS TO ASSIST THEM WITH ENTRANCE FEES AND MONTHLY FEES. GRANTS ARE AWARDED BASED ON THE FINANCIAL NEED OF THE RESIDENT. 1 X X X 0 1 0 0 0 0 0 1 0 BEN GILCHRIST PRESIDENT & CEO 406594 0 70472 0 360 0 39031 0 28977 0 545434 0 0 0 KENDA LAUGHEY CFO/ASST TREASURER 242820 0 36114 0 135 0 26380 0 20194 0 325643 0 0 0 ARNOLDO MARQUEZ COO/ASST SEC 187552 0 20300 0 90 0 12756 0 19912 0 240610 0 0 0 STEWART WILEY VP OF MARKETING 169294 0 8584 0 594 0 11064 0 22283 0 211819 0 0 0 TERESA LEWIS CONTROLLER 136817 0 8500 0 90 0 9480 0 32645 0 187532 0 0 0 JOSH NOLAND DIRECTOR OF CAMPUS FACILITIES 128479 0 7800 0 14032 0 8764 0 24987 0 184062 0 0 0 LISA MCCLELLAN VP OF HUMAN RESOURCES 129460 0 8175 0 387 0 7627 0 27472 0 173121 0 0 0 TRACY MCGINNIS VP OF PHILANTHROPY AND STRATEGIC INI 123321 0 10007 0 135 0 3967 0 20512 0 157942 0 0 0 PART I, LINE 3 THE COMPENSATION OF THE PRESIDENT/CEO IS REVIEWED ANNUALLY BY THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS OF SOUTHMINSTER, INC. AS PART OF A COMPREHENSIVE REVIEW OF THE PRESIDENT'S PERFORMANCE AGAINST AGREED-UPON GOALS. PRESIDENT/CEO COMPENSATION INCLUDED AN ANNUAL BONUS BASED ON CERTAIN GOALS NOT TIED TO ORGANIZATION'S REVENUE OR NET EARNINGS, SET BY BOARD OF DIRECTORS. PART I, LINE 4B NAME: BEN GILCHRIST, DESCRIPTION: EMPLOYER CONTRIBUTION, CURRENT YEAR AMOUNT: $22,500. PLAN DESCRIPTION: SECTION 457 SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN NAME: KENDA LAUGHEY, DESCRIPTION: EMPLOYER CONTRIBUTION, CURRENT YEAR AMOUNT: $10,000. PLAN DESCRIPTION: SECTION 457 SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN PART I, LINE 7 CEO COMPENSATION INCLUDED AN ANNUAL BONUS BASED ON CERTAIN GOALS NOT TIED TO ORGANIZATION'S REVENUE OR NET EARNINGS, SET BY BOARD OF DIRECTORS. DEPARTMENT HEADS' COMPENSATION INCLUDED ANNUAL BONUSES BASED ON CERTAIN GOALS NOT TIED TO ORGANIZATION'S REVENUE OR NET EARNINGS, SET BY CEO. A NC MEDICAL CARE COMMISSION 521309402 65820YMR4 2016-11-10 64801252 ADVANCE REFUND $61,515,000 OF SERIES 2007A OUTSTANDING BONDS 0 0 0 B PUBLIC FINANCE AUTHORITY 273866124 74444VAH3 2018-07-18 90670374 CONSTRUCTION OF REPLACEMENT HEALTH CTR. AND 2 INDEPENDENT LIVING BUILDINGS 0 0 0 A 11220000 64801252 4746688 1089988 58964576 1 0 1 1 B 2115000 90670374 4282850 1682100 84705424 2021 0 0 1 1 A 0 0 1 1 0 0 0 1 B 0 0 1 1 0 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 A 1 B 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: NC MEDICAL CARE COMMISSION DATE THE REBATE COMPUTATION WAS PERFORMED: 10/01/2021 ISSUER NAME: PUBLIC FINANCE AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 06/30/2023 PART II, LINE 3, COLUMN A PROCEEDS, AS WELL AS THE ISSUE PRICE, ARE BROKEN OUT AS FOLLOWS: PAR AMOUNT $58,765,000 ORIGINAL ISSUE DISCOUNT (47,157) PREMIUM 6,083,409 ------------ $64,801,252 FORM 990, PART VI, SECTION A, LINE 7B ALL BOARD MEMBERS ARE NOMINATED BY A NOMINATING COMMITTEE OF THE BOARD, BUT SUCH NOMINEES ARE SUBJECT TO APPROVAL BY THE GOVERNING BODIES OF THE ORGANIZATION'S TWO FOUNDING CHURCHES PRIOR TO ELECTION BY THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FINAL FORM 990 WILL BE DISTRIBUTED TO ALL MEMBERS OF THE BOARD OF DIRECTORS PRIOR TO BEING FILED. ANY COMMENTS OR QUESTIONS WILL BE DIRECTED TO MANAGEMENT. FORM 990, PART VI, SECTION B, LINE 12C DIRECTORS OF THE BOARD SIGN CONFLICT OF INTEREST POLICY/DECLARATIONS EACH YEAR. IF THERE IS A CONCERN THAT A TRANSACTION MAY RISE TO A CONFLICT OF INTEREST, IT IS PROACTIVELY RAISED WITH THE BOARD FOR DISCUSSION/APPROVAL. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE PRESIDENT/CEO IS REVIEWED ANNUALLY BY THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS OF SOUTHMINSTER, INC. AS PART OF A COMPREHENSIVE REVIEW OF THE PRESIDENT'S PERFORMANCE AGAINST AGREED-UPON GOALS. PRESIDENT/CEO COMPENSATION INCLUDED AN ANNUAL BONUS BASED ON CERTAIN GOALS NOT TIED TO ORGANIZATION'S REVENUE OR NET EARNINGS, SET BY BOARD OF DIRECTORS. COMPENSATION OF KEY EMPLOYEES OTHER THAN THE PRESIDENT/CEO IS REVIEWED AND APPROVED BY THE PRESIDENT/CEO. COMPENSATION INCLUDED ANNUAL BONUSES BASED ON CERTAIN GOALS NOT TIED TO ORGANIZATION'S REVENUE OR NET EARNINGS, SET BY PRESIDENT/CEO. COMPETITIVE COMPENSATION INFORMATION IS OBTAINED FROM INDEPENDENT SOURCES, SUCH AS GUIDESTAR, TO ENSURE THAT COMPENSATION IS REASONABLE IN RELATION TO THE MARKETPLACE. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2024. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC THROUGH ELECTRONIC MUNICIPAL MARKET ACCESS, A SOURCE FOR MUNICIPAL DISCLOSURES AND MARKET DATA. IN ADDITION, THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C THE PROCESS FOR SELECTING AN INDEPENDENT AUDITOR AND OVERSEEING THE AUDIT DID NOT CHANGE FROM THE PRIOR YEAR. SOUTHMINSTER FOUNDATION 8919 PARK ROAD CHARLOTTE NC 28210 581711827 FUNDRAISING NC 501(C)(3) LINE 12A, I SOUTHMINSTER INC 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0