2025-09-13T08:49:01-05:00 2024-09-30 560571159 BERNARD ROBINSON & COMPANY LLP PO BOX 19608 GREENSBORO NC 274199608 990 2023-10-01 561739542 GLENAIRE INC GLEN 3368866553 5603 NEW GARDEN VILLAGE DRIVE GREENSBORO NC 27410 K ALAN TUTTEROW EXECUTIVE VP AND CO-CFO 3368866553 2025-09-12 1 0 JOHN M ROBINSON P01281319 3362944494 2025-09-02 2023 2025-03-06 01:10:19Z X TIMOTHY J WEBSTER 5603 NEW GARDEN VILLAGE DRIVE GREENSBORO NC 27410 53601323 0 8627 X WWW.GLENAIRE.ORG X 1991 NC THE VISION OF GLENAIRE INC IS PROVIDING A COMMUNITY OF EXCELLENCE AND INNOVATION IN A STABLE AND COMPASSIONATE ENVIRONMENT. 17 17 0 431 0 0 570487 638868 28490638 49394271 1708007 1593794 155504 146830 30924636 51773763 703814 1760711 0 0 14917412 21016372 0 0 0 13472858 27810606 29094084 50587689 1830552 1186074 324324719 295519007 266100161 232760265 58224558 62758742 THE MISSION OF GLENAIRE IS A NON-PROFIT, CHURCH RELATED COMMUNITY FOSTERING VIBRANT, QUALITY LIVING FOR SENIORS. 0 0 42485050 1760711 49388884 GLENAIRE INC, PROVIDES RESIDENTIAL, ASSISTED LIVING AND NURSING CARE FOR APPROXIMATELY 747 SENIOR ADULT RESIDENTS. SERVICES INCLUDE HOUSEKEEPING, FOOD SERVICE, MEDICAL AND OTHER SUPPORT SERVICES IN A CONTINUING CARE COMMUNITY. 42485050 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 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 17 17 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X X RHONDA CUMMONS 3368866553 5603 NEW GARDEN VILLAGE DRIVE GREENSBORO NC 27410 EDDIE WILLIFORD PRESIDENT 1.00 X X 0 0 0 DOUG BROWN VICE PRESIDENT 1.00 X X 0 0 0 SUSAN HODGES SECRETARY 1.00 X X 0 0 0 BECKY KING TREASURER 1.00 X X 0 0 0 DEBBIE PAPPAS IMMEDIATE PAST PRESIDENT 1.00 X 0 0 0 DAVID BOOKHOUT BOARD MEMBER 1.00 X 0 0 0 GORDON BROWN BOARD MEMBER 1.00 X 0 0 0 NANDINTA GARG BOARD MEMBER 1.00 X 0 0 0 GEORGE JORDAN BOARD MEMBER 1.00 X 0 0 0 JIM LITTLE BOARD MEMBER 1.00 X 0 0 0 REGINA MCLAURIN BOARD MEMBER 1.00 X 0 0 0 WILLIAM L MICKEY BOARD MEMBER 1.00 X 0 0 0 JIM NICHOLS BOARD MEMBER 1.00 X 0 0 0 CATE CHURCH-NORMAN BOARD MEMBER 1.00 X 0 0 0 DELORES PARKER BOARD MEMBER 1.00 X 0 0 0 JIM SCOTT BOARD MEMBER 1.00 X 0 0 0 BEN SHIVAR BOARD MEMBER 1.00 X 0 0 0 BILL SMITH BOARD MEMBER 1.00 X 0 0 0 TIMOTHY WEBSTER ASSISTANT SECRETARY/CEO 1.00 37.50 X 0 631310 36275 JULIA HANOVER ASSISTANT TREASURER/CFO 1.00 37.50 X 0 353787 29933 BENJAMIN STEVENS EXECUTIVE DIRECTOR 37.50 X 0 258327 30032 DAVID FICKLIN ASSOCIATE DIRECTOR 40.00 X 0 167097 21864 VICKEY MASON-BURGESS DIRECTOR OF NURSING/CLINIC 40.00 X 0 138818 21520 CHRISTIAN LUKE CHILDS DIRECTOR OF ENVIRONMENTAL 40.00 X 0 124300 11337 EMILY SMITH DIRECTOR OF MARKETING 40.00 X 0 169339 22941 0 1842978 173902 0 0 1 0 0 638868 638868 RESIDENT SERVICE FEES 623000 36474286 36474286 AMORTIZED ENTRY FEES 623000 10917743 10917743 ANCILLARY INCOME 623000 1793431 1793431 FOOD SERVICE REVENUE 623000 208811 208811 49394271 1109665 1109665 104126 0 104126 104126 104126 2311689 1827560 484129 484129 484129 OTHER REVENUE 923000 48091 48091 BEAUTY SHOP INCOME 923000 -5387 -5387 42704 51773763 49388884 0 1746011 X 758888 758888 1001823 1001823 965575 690728 274847 16090104 14856462 1233642 212765 184739 28026 2487059 81106 2405953 1260869 1156684 104185 6592 6592 39025 7515 31510 39297 39297 846327 785683 60644 49995 712 49283 5549915 2920685 2629230 590141 590141 6829133 6829133 25947 19427 6520 68710 53470 15240 8481404 8472760 8644 623148 26172 596976 FOOD 2855669 2804532 51137 PUCHASED MEDICAL SERVIC 1780462 1780462 BAD DEBT 484924 484924 AMORTIZATION -529820 -529820 69737 59668 10069 50587689 42485050 8102639 0 17535665 3988329 2112101 2280518 15827 21091 390303 139124 314651891 56562445 256660580 258089446 43029743 20651202 4115000 10197000 465500 152297 324324719 295519007 5820733 4997985 26136586 115282967 187173576 111192827 46969266 1286486 266100161 232760265 X 58224558 62758742 58224558 62758742 324324719 295519007 X 1186074 3728145 -380035 X 0 1 X 1 0 X 580129 1006068 417870 570487 638868 3213422 25274714 25374356 26652571 28490638 49394271 155186550 25854843 26380424 27070441 29061125 50033139 158399972 330447 402331 417870 570487 638868 2360003 0 330447 402331 417870 570487 638868 2360003 156039969 592397 50374 1013921 1683270 1213791 4553753 592397 50374 1013921 1683270 1213791 4553753 33481 29305 60486 57266 42704 223242 26480721 26460103 28144848 30801661 51289634 163176967 0.95630 0.95540 0.02790 0.02910 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: OTHER REVENUE - 2019 AMOUNT: $ 25,668. 2020 AMOUNT: $ 20,343. 2021 AMOUNT: $ 37,896. 2022 AMOUNT: $ 47,488. 2023 AMOUNT: $ 42,704. BEAUTY SHOP INCOME - 2019 AMOUNT: $ 7,813. 2020 AMOUNT: $ 8,962. 2021 AMOUNT: $ 22,590. 2022 AMOUNT: $ 9,778. 2023 AMOUNT: $ 0. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4300065 163389 1177395 267440 32921 5340488 3795330 244247 317311 49091 7732 4300065 4661721 25116 -751305 140202 3795330 3656303 339613 802347 136542 4661721 3274505 281379 206184 105765 3656303 0.39000 0.61000 0.00000 0 1 1 13879568 13879568 281269873 49754863 231515010 13211141 5822340 7388801 6291309 985242 5306067 258089446 DEPOSITS ON ADMISSION 1280300 RESIDENTS' CASH DEPOSITS 6186 1286486 X 54120050 3728145 -380035 3348110 50771940 1001823 1001823 51773763 49585866 0 49585866 1001823 1001823 50587689 PART V, LINE 4: ENDOWMENT EARNINGS ARE USED TO FUND VARIOUS PROGRAM SERVICE COSTS SUCH AS RESIDENT SUBSIDIES. PART X, LINE 2: THE PRESBYTERIAN HOMES, INC. DBA BRIGHTSPIRE AND GLENAIRE, INC. ARE NONPROFIT ORGANIZATIONS EXEMPT FROM INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3), AND THE PRESBYTERIAN HOMES FOUNDATION, INC. IS AN ORGANIZATION EXEMPT FROM INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(A). THE ORGANIZATION HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF SEPTEMBER 30, 2024. IT IS THE ORGANIZATION'S POLICY TO EVALUATE ALL TAX POSITIONS TO IDENTIFY ANY THAT MAY BE CONSIDERED UNCERTAIN. ALL IDENTIFIED MATERIAL TAX POSITIONS ARE ASSESSED AND MEASURED BY A MORE-LIKELY-THAN-NOT THRESHOLD TO DETERMINE IF THE TAX POSITION IS UNCERTAIN AND WHAT, IF ANY, THE EFFECT OF THE UNCERTAIN TAX POSITION MAY HAVE ON THE COMBINED FINANCIAL STATEMENTS. NO MATERIAL UNCERTAIN TAX POSITIONS WERE IDENTIFIED FOR 2024 AND 2023. PART XI, LINE 2D - OTHER ADJUSTMENTS: TRANSFER OF ASSETS BETWEEN COMMUNITIES -243,462. INTEREST RATE SWAP -136,573. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL ASSISTANCE TO RESIDENTS INCLUDED IN REVENUE ON FINANCIALS 1,001,823. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL ASSISTANCE TO RESIDENTS INCLUDED IN REVENUE ON FINANCIALS 1,001,823. 1 MILNER SENIOR HOUSING PARTNERS LLC 113 S WILMINGTON STREET RALEIGH NC 27601 844336470 758888 0 TO PROVIDE AFFORDABLE HOUSING TO SENIOR ADULTS. 0 1 FINANCIAL ASSISTANCE PROVIDED TO RESIDENTS 54 1001823 0 PART I, LINE 2: THE ORGANIZATION PROVIDES FINANCIAL ASSISTANCE TO RESIDENTS TO HELP SUBSIDIZE RESIDENT MONTHLY AND MOVE-IN FEES. GRANT APPLICATIONS ARE MADE TO THE EXECUTIVE DIRECTOR AND SCHOLARSHIPS ARE DISCUSSED WITH THE PRESBYTERIAN HOMES INC MANAGEMENT TEAM. RESIDENTS ON SCHOLARSHIP ARE ASKED TO UPDATE THEIR FINANCIAL INFORMATION ON AN ANNUAL BASIS. THE ORGANIZATION'S ACCOUNTING DEPARTMENT TRACKS THE NEED AND USE OF THIS ASSISTANCE. X X X X X X 0 0 0 0 0 0 0 1 0 TIMOTHY WEBSTER ASSISTANT SECRETARY/CEO 0 520925 0 110385 0 0 0 24624 0 11651 0 667585 0 0 JULIA HANOVER ASSISTANT TREASURER/CFO 0 302529 0 51258 0 0 0 18495 0 11438 0 383720 0 0 BENJAMIN STEVENS EXECUTIVE DIRECTOR 0 222568 0 35759 0 0 0 18805 0 11227 0 288359 0 0 EMILY SMITH DIRECTOR OF MARKETING 0 165623 0 3716 0 0 0 12083 0 10858 0 192280 0 0 DAVID FICKLIN ASSOCIATE DIRECTOR 0 154384 0 12713 0 0 0 11023 0 10841 0 188961 0 0 VICKEY MASON-BURGESS DIRECTOR OF NURSING/CLINIC 0 133630 0 5188 0 0 0 10899 0 10621 0 160338 0 0 PART I, LINE 3 THE VICE PRESIDENT OF HUMAN RESOURCES COMPILES COMPARABILITY DATA USING AN INDEPENDENT SALARY SURVEY TO CALCULATE A WAGE AT MARKET AVERAGE FOR EACH POSITION. APART FROM PROVIDING A VEHICLE FOR THE EXECUTIVE DIRECTOR, ALL FRINGES OFFERED ARE EXACTLY THE SAME AS FOR ANY OTHER EMPLOYEE. THE BOARD MINUTES DOCUMENT THE BOARD APPROVAL OF THE OFFICER'S COMPENSATION PLAN AND OVERALL WAGE BUDGET FOR ALL OTHER EMPLOYEES. PART I, LINE 7 SENIOR MANAGEMENT EARNS A BONUS BASED UPON COMPANY GOALS AND PERSONAL GOALS. THE BONUS POTENTIAL IS 10-30% OF WAGES AND THE 10-30% IS EARNED IN 20% INCREMENTS. THE 20% INCREMENTAL GOALS ARE NET OPERATING MARGIN, 5-STAR CMS RATING, INDEPENDENT LIVING AVERAGE DAILY OCCUPANCY, EMPLOYEE ENGAGEMENT AND A PERSONAL TARGET. A NORTH CAROLINA MEDICAL CARE COMMISSION 521309402 2015-07-15 14712108 REFUNDING OF PRIOR BONDS ISSUED FOR CO 0 0 0 B NORTH CAROLINA MEDICAL CARE COMMISSION 521309402 2016-04-14 20000000 CONSTRUCTION 0 0 0 C NORTH CAROLINA MEDICAL CARE COMMISSION 521309402 65821DVP3 2016-09-29 82512334 REFUNDING OF PRIOR BONDS ISSUED FOR CO 0 0 0 D NORTH CAROLINA MEDICAL CARE COMMISSION 521309402 65821DXS5 2020-10-01 188437120 CONSTRUCTION 0 0 0 A 9950219 14713839 131250 14580858 2003 1 0 1 1 B 14759148 20021546 218950 170944 19829056 2017 0 0 1 1 C 30936227 82564491 751205 81761129 2003 1 0 1 1 D 75153751 188563850 9358246 1844736 186592384 2023 0 0 0 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 D 0 0 0 0 0 0 0 A 0 1 0 0 0 0 0 0 0 B 0 0 1 0 1 1 BB&T 11.000000000000 1 0 0 0 0 C 0 0 1 0 1 1 BB&T 11.000000000000 1 0 0 0 0 D 0 1 0 0 0 0 0 0 0 A 0 B 0 C 0 D 0 FORM 990, PART IV, LINE 22 GLENAIRE INC PROVIDES ASSISTANCE TO RESIDENTS THROUGH REDUCED MONTHLY SERVICE AND MOVE-IN FEES; AND BY PARTICIPATION IN MEDICAID. FORM 990, PART V, LINE 2A ALL GLENAIRE INC EMPLOYEES ARE PAID UNDER RELATED ORGANIZATION PRESBYTERIAN HOMES INC. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PROVIDED TO EACH FINANCE COMMITTEE BOARD MEMBER PRIOR TO FILING. THE FINANCE COMMITTEE BOARD MEMBERS HAVE A QUESTION AND ANSWER PERIOD WITH MEMBERS OF MANAGEMENT AND VOTE TO APPROVE FORM 990. AFTER THE FINANCE COMMITTEE APPROVAL, FORM 990 IS ELECTRONICALLY SENT TO THE REMAINING BOARD MEMBERS. FULL BOARD APPROVAL OCCURS AFTER FORM 990 FILING. THE BOARD MINUTES INCLUDED DOCUMENTATION OF THE PROCESS AND DISCUSSION. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS PRESENTED TO THE BOARD MEMBERS ANNUALLY FOR REVIEW AND DATED SIGNATURE. BOARD MEMBERS AND MANAGEMENT UNDERSTAND THAT NO AGREEMENTS ARE ARRANGED TO CREATE A CONFLICT OF INTEREST. ANY NONCOMPLIANCE IS DISCUSSED AND NOTED IN THE BOARD MINUTES. FORM 990, PART VI, SECTION B, LINE 15 THE VICE PRESIDENT OF HUMAN RESOURCES COMPILES COMPARABILITY DATA FROM AN INDEPENDENT SALARY CONSULTANT TO CALCULATE A WAGE FOR EXECUTIVE POSITIONS AND FROM AN INDEPENDENT SALARY SURVEY TO CALCULATE A WAGE AT MARKET AVERAGE FOR ALL OTHER POSITIONS. APART FROM PROVIDING A VEHICLE FOR THE ASSISTANT SECRETARY AND EXECUTIVE DIRECTOR ALL FRINGES OFFERED ARE EXACTLY THE SAME AS FOR ANY OTHER EMPLOYEE. THE BOARD MINUTES DOCUMENT THE BOARD APPROVAL OF THE OFFICER'S COMPENSATION PLAN AND OVERALL WAGE BUDGET FOR ALL OTHER EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND CONFLICT OF INTEREST POLICY AVAILABLE UPON REQUEST AT THE HOME OFFICE. THE FINANCIAL STATEMENTS AND CONFLICT OF INTEREST POLICY ARE ALSO AVAILABLE ONLINE AT WWW.NCDOI.GOV. FORM 990, PART IX, LINE 7 ALL GLENAIRE INC EMPLOYEES ARE PAID UNDER THE RELATED ORGANIZATION PRESBYTERIAN HOMES INC. FUNDS ARE TRANSFERRED FROM GLENAIRE INC TO COVER COSTS. FORM 990, PART IX, LINE 10 ALL GLENAIRE INC EMPLOYEES ARE PAID UNDER THE RELATED ORGANIZATION PRESBYTERIAN HOMES INC. FORM 990, PART IX, LINE 13 THIS INCLUDES MISCELLANEOUS EXPENSES SUCH AS CORPORATE ALLOCATION, MAINTENANCE AND REPAIR, AND COST OF THERAPIES. FORM 990, PART XI, LINE 9: INTEREST RATE SWAP -136,573. TRANSFER OF ASSETS BETWEEN COMMUNITIES -243,462. PRESBYTERIAN HOMES INC 5603 NEW GARDEN VILLAGE DRIVE GREENSBORO NC 27410 560564344 CARE FOR THE ELDERLY NC 501(C)(3) LINE 10 N/A 0 PRESBYTERIAN HOMES FOUNDATION INC 5603 NEW GARDEN VILLAGE DRIVE GREENSBORO NC 27410 582004356 SUPPORTING ORGANIZATION NC 501(C)(3) LINE 12A, I PRESBYTERIAN HOMES INC 1 0 0 1 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 PRESBYTERIAN HOMES INC O 21016372 CASH PAID PRESBYTERIAN HOMES INC P 2080791 CASH PAID PRESBYTERIAN HOMES FOUNDATION INC C 638868 CASH PAID