2024-07-09T16:42:28-04:00 2023-12-31 381964450 WILLIS & JURASEK PC CPAS 4100 SPRING ARBOR ROAD JACKSON MI 492019306 990 2023-01-01 383258132 SILVER MAPLES OF CHELSEA SILV 7344754111 100 SILVER MAPLES DRIVE CHELSEA MI 481181186 JULIE A DEPPNER PRESIDENT AND CEO 7344754111 2024-07-09 true JULIE A DEPPNER 999009999 true NANCY L BARTON CPA P00421013 5177888660 2024-07-08 2023 2023-04-26 12:10:37Z JULIE A DEPPNER 100 SILVER MAPLES DRIVE CHELSEA MI 481181186 25727948 false X WWW.SILVERMAPLES.ORG X 1995 MI SILVER MAPLES OF CHELSEA RETIREMENT NEIGHBORHOOD IS A VIBRANT COMMUNITY THAT EXCELS AT CREATING AND SUPPORT A POSITIVE AGING EXPERIENCE. SILVER MAPLES OF CHELSEA WILL PROMOTE ENRICHING EXPERIENCES TO INSPIRE PERSONAL GROWTH, CREATE OPPORTUNITIES TO DEVELOP MEANINGFUL RELATIONSHIPS AMONG FRIENDS, FAMILY AND COMMUNITY AND PROVIDE A HEALTHY, SECURE AND SUPPORTIVE PLACE TO CALL HOME. OUR MISSION AND VISION IS CLEARLY ALIGNED WITH OUR PARTNERS, THE 5 HEALTHY TOWNS ORGANIZATION AND SILVER MAPLES, INC. THE MISSION OF THE 5 HEALTHY TOWNS IS TO CULTIVATE IMPROVEMENTS IN PERSONAL AND COMMUNITY WELLNESS. 6 6 182 9 0 343963 177822 9930048 10088672 2811529 -310306 0 13085540 9956188 0 0 4288818 4432762 0 47570 4921767 5148441 9210585 9581203 3874955 374985 43214954 39020578 32085268 31071096 11129686 7949482 X SILVER MAPLES OF CHELSEA RETIREMENT NEIGHBORHOOD IS A VIBRANT COMMUNITY THAT EXCELS AT CREATING AND SUPPORT A POSITIVE AGING EXPERIENCE. SILVER MAPLES OF CHELSEA WILL PROMOTE ENRICHING EXPERIENCES TO INSPIRE PERSONAL GROWTH, CREATE OPPORTUNITIES TO DEVELOP MEANINGFUL RELATIONSHIPS AMONG FRIENDS, FAMILY AND COMMUNITY AND PROVIDE A HEALTHY, SECURE AND SUPPORTIVE PLACE TO CALL HOME. OUR MISSION AND VISION IS CLEARLY ALIGNED WITH OUR PARTNERS, THE 5 HEALTHY TOWNS ORGANIZATION AND SILVER MAPLES, INC. THE MISSION OF THE 5 HEALTHY TOWNS IS TO CULTIVATE IMPROVEMENTS IN PERSONAL AND COMMUNITY WELLNESS. false false 8587249 10088672 SILVER MAPLES OF CHELSEA PROVIDES SENIOR CARE SERVICES, WELLNESS ACTIVITIES AND AMENITIES FOR RESIDENT STYLE INDEPENDENT LIVING HOUSING AND LICENSED ASSISTED LIVING ACCOMMODATIONS. THE MEADOWS ASSISTED LIVING OFFERS APARTMENTS FOR COUPLES AND INDIVIDUALS WHO VALUE THE INDEPENDENCE OF HOME AND THE CONVENIENCE OF ON-SITE LICENSED CARE. RESIDENTS RECEIVE THREE NUTRITIOUS MEALS EVERY DAY, SERVED IN MULTIPLE DINING VENUES. THERE ARE 4 LEVELS OF ASSISTANCE WITH ACTIVITIES OF DAILY LIVING, WEEKLY HOUSEKEEPING AND LAUNDRY AND WELL-BALANCED AND DYNAMIC EVENT AND ACTIVITY PROGRAMMING. RESIDENTIAL INDEPENDENT LIVING CONDO STYLE HOMES AND APARTMENTS ARE PROVIDED FOR INDIVIDUALS AND COUPLES WHO VALUE COMFORT, CONVENIENCE AND COMMUNITY. SEVERAL DISTINCTIVE OPTIONS ARE AVAILABLE, WITH AMENITIES SUCH AS 10 TO 20 MEALS PER MONTH, UTILITIES, 24-HOUR IN-HOUSE CALL SYSTEMS, MAINTENANCE SERVICES, LOCAL TRANSPORTATION AND A MULTI-FACETED EVENT AND ACTIVITY PROGRAM WITH AN EMPHASIS ON OVERALL WELLNESS. THE SILVER LINING FUND IS A PROGRAM CONCEIVED BY AND FOR RESIDENTS OF SILVER MAPLES TO PROVIDE FINANCIAL ASSISTANCE TO ANY RESIDENT WHO OUTLIVES HIS OR HER FINANCIAL ASSETS, ENSURING THEY ALWAYS HAVE A HOME AT SILVER MAPLES. EACH DONATION TO THE SILVER LINING FUND HAS A DIRECT IMPACT ON AN INDIVIDUAL IN NEED. IN ADDITION TO PROVIDING EVENTS AND RESOURCES FOR OUR RESIDENTS, SILVER MAPLES SUPPORTS THE LOCAL COMMUNITY. SILVER MAPLES IS A VERY ACTIVE MEMBER OF THE CHELSEA COMMUNITY AND A MEMBER OF BOTH THE CHELSEA AREA CHAMBER OF COMMERCE AND THE DEXTER AREA CHAMBER OF COMMERCE. SILVER MAPLES SPONSORS AND PARTICIPATES IN MANY LOCATION GROUPS, EVENTS AND ORGANIZATIONS, INCLUDING: ALZHEIMER'S ASSOCIATION, SOUNDS & SIGHTS, THE CHELSEA SENIOR CENTER, THE CHELSEA ROTARY CLUB, TO NAME A FEW. SILVER MAPLES HOSTS SEVERAL CHELSEA ARTIST GUILD AND ANN ARBOR ARTIST GUILD ART DISPLAYS, AS WELL AS MANY CHELSEA ROTARY CLUB AND CHELSEA CHAMBER EVENTS. RESIDENTS AND STAFF OF SILVER MAPLES ARE MEMBERS OF SERVICE ORGANIZATIONS, THE CHELSEA GARDEN CLUB, THE FARM TO TABLE EVENT IN CHELSEA, THE CHELSEA SENIOR CENTER, AND THE CHELSEA ARTISTS GUILD. SEVERAL RESIDENTS ALSO PARTICIPATE IN THE EMERSON SCHOOL MENTORSHIP PROGRAM AND SERVE AS READERS FOR NORTH CREEK ELEMENTARY SCHOOL. THE PRESIDENT AND CEO OF SILVER MAPLES IS AN ACTIVE MEMBER OF THE ROTARY CLUB OF CHELSEA AND SERVES ON THE BOARD OF THE CHELSEA AREA CHAMBER OF COMMERCE, THE CHELSEA HOSPITAL, AND THE CHELSEA SENIOR CENTER. 8587249 true true false false false false false false true false true false false false true true true false false false false false false false false false false false false true true false false false false false false false false false false false false false false false false false false false true 26 0 182 true false false false false false false false false X 6 6 false false false false true true true true true false false true true true true true true true true false MI X MARK ROYCE 7344754111 100 SILVER MAPLES DRIVE CHELSEA MI 48118 JULIE A DEPPNER PRESIDENT AN 40.00 X X 246759 0 0 CHRISTINA M KIM EMPLOYEE X 114763 0 0 JOANNE DOBRY REYNOLDS EMPLOYEE X 105321 0 0 JIM ALFORD DIRECTOR X 0 0 0 STEVE PETTY DIRECTOR X 0 0 0 ELIZABETH PIELSTICKER DIRECTOR X 0 0 0 TODD RAEHTZ DIRECTOR X 0 0 0 JAMES RANDOLPH DIRECTOR X 0 0 0 JESSICA STUBBS DIRECTOR X 0 0 0 466843 3 false true false GORDON FOOD SERVICE PO BOX 88029 CHICAGO IL 60680 234414 ENTRANCE TECHNOLOGIES INC 2625 GULLIFORD DR SE LOWELL MI 49331 183225 TODD'S SERVICES LANDSCAPING 7975 M-36 PO BOX 608 HAMBURG MI 48139 182671 ORANGE EGG ADVERTISING INC 5165 HELLNER ROAD SUITE 200 ANN ARBOR MI 48105 ADVERTISING 155357 BOONE & DARR INC 4465 S STATE RD ANN ARBOR MI 48108 136349 5 177822 177822 RESIDENT SERVICE REVENUE 9435241 9435241 AMORT. OF DEFERRED REVENUE 653431 653431 10088672 434576 434576 15026878 15771760 -744882 -744882 -744882 9956188 9343790 434576 246759 246759 3410492 3070021 303066 37405 116136 98409 17335 392 414783 351473 61912 1398 244592 207258 36509 825 31903 31903 62703 62703 337610 297854 38406 1350 147134 147134 22018 12321 4716 4981 60841 31156 28466 1219 477410 461529 15881 22157 15785 6372 420814 420814 1785134 1785134 122702 122702 FOOD 516924 516924 REAL ESTATE TAXES 434802 434802 REPAIRS AND MAINTENANCE 277345 236923 40422 OPERATING SUPPLIES 201933 201933 227011 175077 51934 9581203 8587249 946384 47570 307231 532669 1330581 1519944 250000 301523 26484 42622 48174 26008 22233 157339 208135 45531069 21791905 24222369 23739164 16459513 12760227 117768 105621 57927 43214954 39020578 766005 1310551 3294532 3163031 10230000 9755000 212600 289900 17582131 16552614 32085268 31071096 X 9576484 6389111 1553202 1560371 11129686 7949482 43214954 39020578 X 374985 2492838 -6048027 X false true X true false X 62197 104819 317091 343963 177822 1005892 8308107 8311707 8845915 9930048 10088672 45484449 8370304 8416526 9163006 10274011 10266494 46490341 50243 106571 57803 40063 43054 297734 50243 106571 57803 40063 43054 297734 46192607 443111 394750 1241814 518438 434576 3032689 443111 394750 1241814 518438 434576 3032689 8813415 8811276 10404820 10792449 10701070 49523030 0.93280 0.92940 0.06000 0.06000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true X 651562 651562 36064372 15863722 20200650 3661827 2638435 1023392 5153308 3289748 1863560 23739164 REFUNDABLE ENTRANCE FEES 16582568 INTEREST RATE SWAP -29954 16552614 X 12386323 2492838 -62703 2430135 9956188 9956188 9691933 110730 110730 9581203 9581203 SCHEDULE D, PAGE 2, PART IV, LINE 2B SILVER MAPLES OF CHELSEA MAINTAINS A SEPARATE BANK ACCOUNT AT CHELSEA STATE BANK FOR DEPOSITS FROM PROSPECTIVE RESIDENTS WHO WISH TO BE ADMITTED TO THE WAIT LIST OR WHO ARE MAKING THEIR LIFE LEASE PAYMENTS PRIOR TO MOVING INTO SILVER MAPLES. AFTER BECOMING A RESIDENT OF SILVER MAPLES, AND AFTER EXPIRATION OF THE SEVEN-DAY RESCISSION PERIOD, SILVER MAPLES, AT ITS SOLE DISCRETION, MAY TRANSFER ANY ENTRANCE FEES PAID BY A MEMBER FROM THE INITIAL ESCROW ACCOUNT TO THE OPERATING ACCOUNT OF SILVER MAPLES. SCHEDULE D, PAGE 3, PART X PROFESSIONAL STANDARDS REQUIRE AN ANALYSIS OF UNCERTAIN TAX POSITIONS FOR THE PURPOSE OF DETERMINING WHETHER BENEFITS ASSOCIATED WITH THOSE POSITIONS MAY BE RECOGNIZED FOR FINANCIAL STATEMENT PURPOSES. BASED UPON THIS ANALYSIS, NO AMOUNTS HAVE BEEN IDENTIFIED, OR RECORDED, AS UNCERTAIN TAX POSITIONS. SCHEDULE D, PAGE 4, PART XI, LINE 2D INVESTMENT FEES -62,703 SCHEDULE D, PAGE 4, PART XII, LINE 2D INVESTMENT FEES 62,703 INTEREST RATE SWAP 48,027 X X X false false false false false false false false false JULIE A DEPPNER PRESIDENT AND CEO 246759 246759 A CHELSEA ECONOMIC DEVELOPMENT CORP CHELSEA ECONOMIC DEVELOPMENT CORP 163347BH9 2013-06-29 13300000 REFUNDING OF 2006 BONDS false false false A 3545000 13300000 false true true true A false false false false false false false A false false false false true false false false false A false PURPOSE OF ISSUE DESCRIPTION CHELSEA ECONOMIC DEVELOPMENT CORP. REFUNDING OF 2006 BONDS FORM 990 - ORGANIZATION'S MISSION SILVER MAPLES OF CHELSEA RETIREMENT NEIGHBORHOOD IS A VIBRANT COMMUNITY THAT EXCELS AT CREATING AND SUPPORT A POSITIVE AGING EXPERIENCE. SILVER MAPLES OF CHELSEA WILL PROMOTE ENRICHING EXPERIENCES TO INSPIRE PERSONAL GROWTH, CREATE OPPORTUNITIES TO DEVELOP MEANINGFUL RELATIONSHIPS AMONG FRIENDS, FAMILY AND COMMUNITY AND PROVIDE A HEALTHY, SECURE AND SUPPORTIVE PLACE TO CALL HOME. OUR MISSION AND VISION IS CLEARLY ALIGNED WITH OUR PARTNERS, THE 5 HEALTHY TOWNS ORGANIZATION AND SILVER MAPLES, INC. THE MISSION OF THE 5 HEALTHY TOWNS IS TO CULTIVATE IMPROVEMENTS IN PERSONAL AND COMMUNITY WELLNESS. FORM 990, PAGE 2, PART III, LINE 4A SILVER MAPLES OF CHELSEA PROVIDES SENIOR CARE SERVICES, WELLNESS ACTIVITIES AND AMENITIES FOR RESIDENT STYLE INDEPENDENT LIVING HOUSING AND LICENSED ASSISTED LIVING ACCOMMODATIONS. THE MEADOWS ASSISTED LIVING OFFERS APARTMENTS FOR COUPLES AND INDIVIDUALS WHO VALUE THE INDEPENDENCE OF HOME AND THE CONVENIENCE OF ON-SITE LICENSED CARE. RESIDENTS RECEIVE THREE NUTRITIOUS MEALS EVERY DAY, SERVED IN MULTIPLE DINING VENUES. THERE ARE 4 LEVELS OF ASSISTANCE WITH ACTIVITIES OF DAILY LIVING, WEEKLY HOUSEKEEPING AND LAUNDRY AND WELL-BALANCED AND DYNAMIC EVENT AND ACTIVITY PROGRAMMING. RESIDENTIAL INDEPENDENT LIVING CONDO STYLE HOMES AND APARTMENTS ARE PROVIDED FOR INDIVIDUALS AND COUPLES WHO VALUE COMFORT, CONVENIENCE AND COMMUNITY. SEVERAL DISTINCTIVE OPTIONS ARE AVAILABLE, WITH AMENITIES SUCH AS 10 TO 20 MEALS PER MONTH, UTILITIES, 24-HOUR IN-HOUSE CALL SYSTEMS, MAINTENANCE SERVICES, LOCAL TRANSPORTATION AND A MULTI-FACETED EVENT AND ACTIVITY PROGRAM WITH AN EMPHASIS ON OVERALL WELLNESS. THE SILVER LINING FUND IS A PROGRAM CONCEIVED BY AND FOR RESIDENTS OF SILVER MAPLES TO PROVIDE FINANCIAL ASSISTANCE TO ANY RESIDENT WHO OUTLIVES HIS OR HER FINANCIAL ASSETS, ENSURING THEY ALWAYS HAVE A HOME AT SILVER MAPLES. EACH DONATION TO THE SILVER LINING FUND HAS A DIRECT IMPACT ON AN INDIVIDUAL IN NEED. IN ADDITION TO PROVIDING EVENTS AND RESOURCES FOR OUR RESIDENTS, SILVER MAPLES SUPPORTS THE LOCAL COMMUNITY. SILVER MAPLES IS A VERY ACTIVE MEMBER OF THE CHELSEA COMMUNITY AND A MEMBER OF BOTH THE CHELSEA AREA CHAMBER OF COMMERCE AND THE DEXTER AREA CHAMBER OF COMMERCE. SILVER MAPLES SPONSORS AND PARTICIPATES IN MANY LOCATION GROUPS, EVENTS AND ORGANIZATIONS, INCLUDING: ALZHEIMER'S ASSOCIATION, SOUNDS & SIGHTS, THE CHELSEA SENIOR CENTER, THE CHELSEA ROTARY CLUB, TO NAME A FEW. SILVER MAPLES HOSTS SEVERAL CHELSEA ARTIST GUILD AND ANN ARBOR ARTIST GUILD ART DISPLAYS, AS WELL AS MANY CHELSEA ROTARY CLUB AND CHELSEA CHAMBER EVENTS. RESIDENTS AND STAFF OF SILVER MAPLES ARE MEMBERS OF SERVICE ORGANIZATIONS, THE CHELSEA GARDEN CLUB, THE FARM TO TABLE EVENT IN CHELSEA, THE CHELSEA SENIOR CENTER, AND THE CHELSEA ARTISTS GUILD. SEVERAL RESIDENTS ALSO PARTICIPATE IN THE EMERSON SCHOOL MENTORSHIP PROGRAM AND SERVE AS READERS FOR NORTH CREEK ELEMENTARY SCHOOL. THE PRESIDENT AND CEO OF SILVER MAPLES IS AN ACTIVE MEMBER OF THE ROTARY CLUB OF CHELSEA AND SERVES ON THE BOARD OF THE CHELSEA AREA CHAMBER OF COMMERCE, THE CHELSEA HOSPITAL, AND THE CHELSEA SENIOR CENTER. FORM 990, PAGE 6, PART VI, LINE 6 THE ORGANIZATION WAS FORMED BY TWO MEMBERS. FORM 990, PAGE 6, PART VI, LINE 7A THE BOARD OF DIRECTORS SHALL CONSIST OF SEVEN (7) DIRECTORS. FOUR DIRECTORS OF THE CORPORATION WILL ALSO BE DIRECTORS OF SILVER MAPLES, INC. (A)THE PRESIDENT AND CEO (OR OFFICE OF COMPARABLE RANK AND RESPONSIBILITY) OF THE CORPORATION SHALL BE AN EX-OFFICIO MEMBER OF THE BOARD AND SHALL SERVE AS A NON-VOTING DIRECTOR DURING SUCH PERSON'S TIME IN OFFICE. THE PRESIDENT AND CEO OF THE CORPORATION WILL ALSO BE APPOINTED PRESIDENT AND CEO OF SILVER MAPLES, INC. (B)EACH MEMBER SHALL APPOINT THREE (3) ADDITIONAL DIRECTORS; PROVIDED, PERSONS APPOINTED AS DIRECTORS MEET THE RESPECTIVE MEMBER ORGANIZATION'S CRITERIA, AND MUST ALSO SERVE ON THE BOARD OF DIRECTORS OF THEIR RESPECTIVE MEMBER ORGANIZATIONS. (C)DIRECTORS MAY NOT BE EMPLOYEES OR BOARD MEMBERS OF ANY ORGANIZATION THAT OPERATES SENIOR LIVING SERVICES OR COMMUNITIES OTHER THAN THE CORPORATION, OR THE MEMBERS. ANY EXCEPTION TO THIS PROVISION MUST BE APPROVED BY BOTH MEMBER ORGANIZATIONS. (D)DIRECTORS, OTHER THAN EX-OFFICIO DIRECTORS, SHALL SERVE UP TO THREE TWO (2) YEAR TERMS OR UNTIL THEIR SUCCESSORS ARE ELECTED AND QUALIFIED, NOT TO EXCEED A TOTAL OF SIX CONSECUTIVE YEARS OF SERVICE, EXCLUSIVE OF PERIODS SERVED AS AN EX-OFFICIO DIRECTOR. A CEO OR EQUIVALENT OFFICER OF A MEMBER WHO IS APPOINTED BY THE MEMBER AS ONE OF ITS THREE (3) DIRECTOR APPOINTEES SHALL BE DEEMED AN EX-OFFICIO DIRECTOR. (E)EACH MEMBER ORGANIZATION MAY ELECT TO EXTEND THE TERM OF ONE DIRECTOR FROM THAT MEMBER ORGANIZATION FOR A FOURTH TWO (2) YEAR TERM, WHICH MAY BE SERVED CONSECUTIVELY WITH THE ALLOWED THREE TERMS. (F)NO MORE THAN ONE-THIRD OF THE DIRECTORS MAY HAVE AN IMMEDIATE FAMILY MEMBER RESIDING AT SILVER MAPLES. "IMMEDIATE FAMILY MEMBER" IS DEFINED AS GRANDPARENT, PARENT, PARENT-IN-LAW, STEPPARENT, SIBLING, SPOUSE, CHILD OR STEPCHILD. FORM 990, PAGE 6, PART VI, LINE 7B THE CORPORATE BY-LAWS RESERVE SPECIFIC POWERS TO THE MEMBERS THAT ARE NOT DELEGATED TO THE BOARD OF DIRECTORS AND INCLUDE: APPROVAL OF THE ANNUAL CAPITAL AND OPERATING BUDGETS FOR THE CORPORATION; APPROVAL OF THE SELECTION AND REMOVAL OF THE PRESIDENT/CHIEF EXECUTIVE OFFICER OF THE CORPORATION; ELECTION OF DIRECTORS; APPROVAL OF ANY BORROWING; APPROVAL OF ANY AND ALL AMENDMENTS OR ALTERATIONS OF THE BYLAWS OR ARTICLES OF INCORPORATION; APPROVAL OF ANY PLANS OF MERGER, CONSOLIDATION OR DISSOLUTION OF THE CORPORATION; APPROVAL OF THE FORMATION OR ACQUISITION OF NEW SUBSIDIARIES OF THE CORPORATION OR THE SALE OR OTHER DISPOSITION OF EXISTING SUBSIDIARIES; AND APPROVAL OF THE SALE, LEASE, MORTGAGE OR OTHER DISPOSITION OF SUBSTANTIALLY ALL OF THE ASSETS OWNED, HELD, OR LEASED BY OR TO THE CORPORATION. FORM 990, PAGE 6, PART VI, LINE 11B A COPY OF FORM 990 IS SENT TO THE BOARD OF DIRECTORS FOR THEIR REVIEW PRIOR TO THE FILING OF THE FORM. THE CEO OF THE CORPORATION AND DIRECTOR OF FINANCE ARE AVAILABLE TO ANSWER QUESTIONS. FORM 990, PAGE 6, PART VI, LINE 12C CONFLICT OF INTEREST FORMS ARE REQUIRED TO BE COMPLETED AND SUBMITTTED ANNUALLY BY ALL BOARD MEMBERS. THESE FORMS ARE THEN REVIEWED AND ANY CHANGES ARE MONITORED BY THE BOARD AND MANAGEMENT. FORM 990, PAGE 6, PART VI, LINE 15A THE ORGANIZATION OBTAINS DATA FROM SIMILAR ORGANIZATIONS TO COMPARE COMPENSATION FOR THE PRESIDENT/CEO. THE BOARD USES THIS INFORMATION AND VOTES ON AN ANNUAL BASIS. THE PRESIDENT, WHO NORMALLY HAS A VOTE, DOES NOT VOTE ON HIS/HER OWN COMPENSATION. FORM 990, PAGE 6, PART VI, LINE 15B SEE 15A. FORM 990, PAGE 6, PART VI, LINE 19 FINANCIAL STATEMENTS AND FORM 990 ARE FURNISHED UPON WRITTEN REQUEST. THE CHAIRPERSONS FOR THE ORGANIZATION'S INDEPENDENT LIVING AND ASSISTED LIVING ATTEND ALL BOARD MEETINGS AND ARE SUPPLIED WITH ALL INFORMATION ON THE AGENDA. FORM 990, PART XI, LINE 9 INTEREST RATE SWAP GAIN 0 INTEREST RATE SWAP LOSS -48,027 SPONSOR DISTRIBUTION -6,000,000 TOTAL -6,048,027