2024-08-05T12:45:16-05:00 2023-12-31 593070669 MSL PA 255 S ORANGE AVENUE SUITE 600 ORLANDO FL 32801 990 2023-01-01 592708341 NAVAL CONTINUING CARE RETIREMENT FOUNDATION INC NAVA 9042469900 ONE FLEET LANDING BLVD ATLANTIC BEACH FL 322334599 JOSHUA ASHBY CHIEF EXECUTIVE OFFICER 9042469900 2024-08-05 1 1 HARRY E HARP CPA P00176471 4077405400 2023 2024-08-08 14:25:15Z FLEET LANDING JOSHUA ASHBY ONE FLEET LANDING BLVD ATLANTIC BEACH FL 322334599 62714441 0 X WWW.FLEETLANDING.COM X 1985 FL TO ENRICH THE LIVES OF OLDER ADULTS THROUGH PROGRAMS AND SERVICES TO SUPPORT SUCCESSFUL AGING. 13 12 683 12 0 0 1085715 1346670 54869557 57809679 1228731 3549550 0 0 57184003 62705899 0 25000 0 0 24134600 22656436 0 0 356835 36622165 34929514 60756765 57610950 -3572762 5094949 271021475 275553073 273971024 270451513 -2949549 5101560 THE MISSION OF NAVAL CONTINUING CARE RETIREMENT FOUNDATION, INC. IS TO ENRICH THE LIVES OF OLDER ADULTS THROUGH HIGH QUALITY PROGRAMS AND SERVICES TO SUPPORT SUCCESSFUL AGING. 0 0 51739400 25000 57809679 THE ORGANIZATION PROVIDES RESIDENTIAL, HEALTH CARE, AND OTHER RELATED SERVICES FOR RESIDENTS, INCLUDING RETIRED CAREER U.S. MILITARY OFFICERS, THEIR SPOUSES, AND OTHERS OF RETIREMENT AGE. THE ORGANIZATION OWNS AND OPERATES A RETIREMENT COMMUNITY CONSISTING OF 482 RESIDENTIAL UNITS (292 APARTMENTS AND 190 HOMES), 138 ASSISTED LIVING AND MEMORY CARE UNITS, AND IS LICENSED FOR 100 SKILLED NURSING BEDS. TOTAL PATIENT DAYS FOR THE YEAR: 251,729 DAYS - INDEPENDENT LIVING; 42,158 DAYS - ASSISTED LIVING; AND 15,768 DAYS - SKILLED NURSING. 51739400 1 1 0 0 0 0 1 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 82 0 1 683 1 0 0 0 0 0 0 0 0 0 0 0 0 X 13 12 0 0 1 0 1 0 1 1 1 0 0 0 1 1 1 1 1 1 1 0 FL X CYNTHIA HACK CONTROLLER 9042469900 ONE FLEET LANDING BLVD ATLANTIC BEACH FL 322334599 JOSHUA ASHBY SECRETARY/CEO 50.00 3.00 X X 679258 0 28550 HELEN ATTER CHAIR 2.00 2.00 X X 0 0 0 JOSEPH MITRICK VICE CHAIR 2.00 2.00 X X 0 0 0 WILLIAM STRUCK TREASURER 1.00 2.00 X X 0 0 0 AREZOU JOLLY BOARD MEMBER 1.00 1.00 X 0 0 0 WAYNE GALLOWAY BOARD MEMBER 1.00 1.00 X 0 0 0 MATTHEW TUOHY BOARD MEMBER 1.00 1.00 X 0 0 0 ROBERT WALTERS BOARD MEMBER 1.00 1.00 X 0 0 0 HOWARD WANAMAKER BOARD MEMBER 1.00 1.00 X 0 0 0 LINDSAY DEAN NORMAN BOARD MEMBER 1.00 1.00 X 0 0 0 KATHLEEN LONG BOARD MEMBER 1.00 1.00 X 0 0 0 PAULA CHAMBERLAIN BOARD MEMBER 1.00 1.00 X 0 0 0 CAROL POTTENGER BOARD MEMBER 1.00 1.00 X 0 0 0 CYNTHIA HACK CONTROLLER 50.00 1.50 X 210132 0 13160 BRIAN WEISS COO/SR. DIRECTOR OF CAMPUS SERV. 50.00 1.50 X 260348 0 7608 MICHELE HOLLEY SR. DIRECTOR OF HR 50.00 X 175347 0 13354 JULIA PRATT SR. DIRECTOR OF HEALTHCARE 50.00 X 196136 0 14333 APRIL MORIN DIRECTOR OF SALES & MKTG. 45.00 X 156836 0 10715 BERNADETH PALOMPO DIRECTOR OF NURSING 45.00 X 148475 0 13041 ASHLEY ALLEN-CORDERO NURSING HOME & ASSISTED LIVING ADMINISTRATOR 45.00 X 127837 0 150 DEBORAH GORDAN DIRECTOR OF THERAPY AND HOME HEALTH 45.00 X 132531 0 5301 JAY JERNIGAN MANAGER OF EXTERIOR MAINTENANCE 45.00 X 132096 0 9061 PERRY BROWN FOOD & BEVERAGE DIRECTOR 45.00 X 109566 0 9136 TRAVIS SCHRYER CHIEF OPERATING OFFICER (END. 08/23) 50.00 1.50 X 223629 0 3758 OLIVIA BUSH DIR. CHARITABLE GIVING (END. 05/23) 45.00 X 132712 0 0 2684903 0 128167 13 1 1 0 GCD FLORIDA LLC 225 E JOHN CARPENTER FREEWAY STE IRVING TX 75062 CONSTRUCTION SERVICES 478932 AG ARCHITECTURE INC 2001 HODGES BLVD JACKSONVILLE FL 32224 ARCHITECTURAL SERVICES 260618 2 1346670 1346670 MONTHLY SERVICE FEES 623000 27775818 27775818 HEALTHCARE AND HOME HEALTH FEES 623000 15791104 15791104 ENTRANCE FEES 623000 13083590 13083590 OTHER RESIDENT REVENUE 623000 1159167 1159167 57809679 1873382 1873382 1684710 0 8542 1684710 -8542 1676168 1676168 62705899 57809679 0 3549550 25000 25000 2194441 2194441 16874014 16268596 343349 262069 440139 263966 164201 11972 1714096 1697918 11091 5087 1433746 1259803 155382 18561 216924 216924 3101509 2272456 826818 2235 459071 15682 434051 9338 239449 132913 101689 4847 684084 412062 263380 8642 4595525 4545166 50359 48202 2386 45816 121087 72812 48275 6452306 6358522 93784 9880608 9655607 225001 2279010 2245885 33125 FOOD SUPPLIES 3767303 3767303 SUPPLIES AND EQUIPMENT 2547558 2468949 73894 4715 RESIDENT EXPENSES 272016 213352 29342 29322 EMPLOYEE EXPENSES 175910 32123 143740 47 88952 28899 60053 57610950 51739400 5514715 356835 15143441 5582118 700000 1468068 935075 247701 278516 1339539 2825557 301708609 104636136 193090075 197072473 52286783 61095116 6745868 7764218 271021475 275553073 7014454 7009674 115150095 111585623 120364885 133905453 15000000 16441590 17950763 273971024 270451513 X -4122275 3931872 1172726 1169688 -2949549 5101560 271021475 275553073 X 5094949 3522156 -565996 X X 0 1 X 1 0 X 685687 1556445 8649629 1085715 1346670 13324146 34866261 37863889 42527512 54869557 57809679 227936898 35551948 39420334 51177141 55955272 59156349 241261044 0 0 0 241261044 1197115 789706 783392 1125779 1873382 5769374 1197115 789706 783392 1125779 1873382 5769374 912811 912811 37661874 40210040 51960533 57081051 61029731 247943229 0.97300 0.96920 0.02330 0.02230 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X 1 26.00 1 0 11169823 11169823 222189206 84271682 137917524 43716908 20364454 23352454 24632672 24632672 197072473 CASH AND CASH EQUIVALENTS 12025542 F U.S. GOVERNMENT OBLIGATIONS 22582425 F EQUITIES 19854496 F MUTUAL FUNDS 1625555 F CORPORATE BONDS 5007098 F 61095116 REFUNDABLE DEPOSITS IN ESCROW 3081817 REFUNDABLE ENTRANCE FEES 14212716 CHARITABLE GIFT LIABILITY 463392 LEASE LIABILITY 192838 17950763 X 65945135 3522156 -65996 3456160 62488975 216924 216924 62705899 57394026 0 57394026 216924 216924 57610950 PART II, LINE 9: THE COST OF THE EASEMENT IS INCLUDED IN LAND ON THE ORGANIZATION'S BALANCE SHEET. PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("IRC"). THE IRC PROVIDES FOR TAXATION OF CERTAIN UNRELATED BUSINESS INCOME. THE FOUNDATION DOES NOT HAVE UNRELATED BUSINESS INCOME. ACCORDINGLY, THESE COMBINED FINANCIAL STATEMENTS INCLUDE NO PROVISION OR LIABILITY FOR INCOME TAXES. AS OF DECEMBER 31, 2023, WITH CERTAIN STATUTORY EXCEPTIONS, THE FOUNDATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY U.S. FEDERAL OR STATE OF FLORIDA TAXING AUTHORITIES FOR ANY YEARS PRIOR TO THE PAST THREE TAX YEARS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF GIFT ANNUITIES -65,996. 1 SCHOLARSHIP 1 25000 X X X X X X 0 0 0 0 0 0 0 0 0 JOSHUA ASHBY SECRETARY/CEO 516807 0 162451 0 0 0 13200 0 15350 0 707808 0 0 0 BRIAN WEISS COO/SR. DIRECTOR OF CAMPUS SERV. 217460 0 42888 0 0 0 7608 0 0 0 267956 0 0 0 TRAVIS SCHRYER CHIEF OPERATING OFFICER (END. 08/23) 204084 0 19545 0 0 0 3758 0 0 0 227387 0 0 0 CYNTHIA HACK CONTROLLER 182553 0 27579 0 0 0 6214 0 6946 0 223292 0 0 0 JULIA PRATT SR. DIRECTOR OF HEALTHCARE 180409 0 15727 0 0 0 7319 0 7014 0 210469 0 0 0 MICHELE HOLLEY SR. DIRECTOR OF HR 154524 0 20823 0 0 0 6340 0 7014 0 188701 0 0 0 APRIL MORIN DIRECTOR OF SALES & MKTG. 123076 0 33760 0 0 0 3769 0 6946 0 167551 0 0 0 BERNADETH PALOMPO DIRECTOR OF NURSING 134390 0 14085 0 0 0 0 0 13041 0 161516 0 0 0 OLIVIA BUSH DIR. CHARITABLE GIVING (END. 05/23) 68464 0 64248 0 0 0 0 0 0 0 132712 0 0 0 A CITY OF ATLANTIC BEACH FL 596000267 048251BJ0 2013-04-01 40050000 SEE SUPPLEMENTAL INFORMATION BELOW 0 0 0 B CITY OF ATLANTIC BEACH FL 596000267 048251BR2 2013-10-01 17610000 SEE SUPPLEMENTAL INFORMATION BELOW 0 0 0 C CITY OF ATLANTIC BEACH FL 596000267 048251BS0 2018-12-12 72705000 SEE SUPPLEMENTAL INFORMATION BELOW 0 0 0 D CITY OF ATLANTIC BEACH FL 596000267 048251CE0 2018-12-13 42010000 SEE SUPPLEMENTAL INFORMATION BELOW 0 0 0 A 11985000 42714261 3168167 801000 38745094 2013 1 0 1 1 B 16991361 1215533 352200 15423628 2013 0 0 1 1 C 74903366 4079133 5590870 420000 64813364 2018 0 0 1 1 D 41594283 1742160 39852123 2018 0 0 1 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 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 0 0 D 0 0 0 0 0 0 0 0 0 A 1 B 1 C 1 D 1 SCHEDULE K, ROW A, PART I, COLUMN (F) PURPOSE OF SERIES 2013A BONDS: TO REFUND THE SERIES 1999 AND SERIES 2006 BONDS, PAY THE COST OF ACQUIRING LAND ADJACENT TO THE EXISTING CAMPUS, FUND A DEBT SERVICE RESERVE, AND PAY CERTAIN COSTS OF ISSUING THE SERIES 2013A BONDS. SCHEDULE K, PART II, COLUMN A, LINE 3 ADDITIONAL INFORMATION RELATED TO BOND ISSUANCE (SERIES 2013A): THE TOTAL PROCEEDS FOR SERIES 2013A BOND ISSUE ARE NOT IDENTICAL TO THE ISSUE PRICE LISTED IN PART I, COLUMN (E), THE DIFFERENCE IS A PREMIUM TO THEIR FACE VALUE OF $2,664,261. SCHEDULE K, ROW B, PART I, COLUMN (F) PURPOSE OF SERIES 2013B BONDS: TO FUND CERTAIN CAPITAL IMPROVEMENTS ON THE EXISTING CAMPUS, FUND A DEBT SERVICE RESERVE FUND, AND PAY CERTAIN COSTS OF ISSUING THE SERIES 2013B BONDS. SCHEDULE K, PART II, COLUMN B, LINE 3 ADDITIONAL INFORMATION RELATED TO BOND ISSUANCE (SERIES 2013B): THE TOTAL PROCEEDS FOR SERIES 2013B BOND ISSUE ARE NOT IDENTICAL TO THE ISSUE PRICE LISTED IN PART I, COLUMN (E), THE DIFFERENCE IS AN UNDERWRITERS DISCOUNT OF $618,639. SCHEDULE K, ROW C, PART I, COLUMN (F) PURPOSE OF SERIES 2018A BONDS: TO FUND THE BEACON POINTE EXPANSION PROJECT, REPAY EXISTING NOTES PAYABLE, FUND REQUIRED ESCROW ACCOUNTS, AND PAY CERTAIN COSTS OF ISSUING THE SERIES 2018 BONDS. CUSIP. NO.: 048251BS0 048251BU5 048251BV3 048251BW1 048251BX9 048251BY7 048251BT8 048251BZ4 048251CA8 048251CB6 048251CC4 SCHEDULE K, PART II, COLUMN C, LINE 3 ADDITIONAL INFORMATION RELATED TO BOND ISSUANCE (SERIES 2018A): THE TOTAL PROCEEDS FOR SERIES 2018A BOND ISSUE ARE NOT IDENTICAL TO THE ISSUE PRICE LISTED IN PART I, COLUMN (E), THE DIFFERENCE IS A PREMIUM TO THEIR FACE VALUE OF $2,961,768.75 AND UNDERWRITER'S DISCOUNT OF $763,402.50. SCHEDULE K, ROW D, PART I, COLUMN (F) PURPOSE OF SERIES 2018B BONDS: TO FUND THE BEACON POINTE EXPANSION PROJECT, REPAY EXISTING NOTES PAYABLE, FUND REQUIRED ESCROW ACCOUNTS, AND PAY CERTAIN COSTS OF ISSUING THE SERIES 2018 BONDS. (CUSIP NO. 048251CE0 AND 048251CD2) SCHEDULE K, PART II, COLUMN D, LINE 3 ADDITIONAL INFORMATION RELATED TO BOND ISSUANCE (SERIES 2018B): THE TOTAL PROCEEDS FOR SERIES 2018B BOND ISSUE ARE NOT IDENTICAL TO THE ISSUE PRICE LISTED IN PART I, COLUMN (E), THE DIFFERENCE IS A PREMIUM TO THEIR FACE VALUE OF $25,388.30 AND AN UNDERWRITER'S DISCOUNT OF $441,105. FORM 990, PART VI, SECTION A, LINE 4 THE ORGANIZATION AMENDED ITS GOVERNING DOCUMENTS TO REFLECT A CHANGE IN THE OWNERSHIP STRUCTURE. FORM 990, PART VI, SECTION A, LINE 6 THE SOLE MEMBER OF THE CORPORATION IS POLARIS ENDEAVORS, INC., A FLORIDA NOT-FOR-PROFIT CORPORATION AND AN ORGANIZATION DESCRIBED UNDER SECTION 501(C)(3). FORM 990, PART VI, SECTION A, LINE 7B THE BOARD OF DIRECTORS OF THE SOLE MEMBER, POLARIS ENDEAVORS, INC., A FLORIDA NOT-FOR-PROFIT CORPORATION AND AN ORGANIZATION DESCRIBED UNDER SECTION 501(C)(3) OF THE CODE, HAVE THE AUTHORITY TO MAKE CERTAIN GOVERNANCE DECISIONS FOR THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE FINANCE COMMITTEE FOR APPROVAL PRIOR TO BEING FILED WITH THE INTERNAL REVENUE SERVICE. IT IS DISTRIBUTED TO OTHER BOARD MEMBERS UPON FILING. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION'S EXECUTIVE COMMITTEE MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY ANNUALLY. THE COMMITTEE REVIEWS ACTUAL CONFLICTS THAT ARE IDENTIFIED BY THE ANNUAL DISCLOSURE PROCESS AND PROHIBITS OFFICERS AND DIRECTORS FROM VOTING ON MATTERS WHERE ACTUAL CONFLICTS OF INTEREST EXIST. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS HAS A FORMAL EXECUTIVE COMPENSATION PHILOSOPHY. THE COMPENSATION COMMITTEE UTILIZES AN INDEPENDENT CONSULTANT TO MONITOR THE COMPENSATION PROGRAM TO ENSURE COMPENSATION IS BOTH REASONABLE AND COMPETITIVE WITH THE EXTERNAL MARKET FOR TALENT. THE CONSULTANT UTILIZES PUBLISHED SURVEY DATA FOR APPROPRIATELY SIZED ORGANIZATIONS OF COMPARABLE INDUSTRIES TO DEFINE OUR MARKET. THE COMMITTEE CONTEMPORANEOUSLY DOCUMENTS AND MAINTAINS RECORDS WITH RESPECT TO THE DELIBERATIONS AND DECISIONS REGARDING THE COMPENSATION ARRANGEMENT WHICH IS FORMALIZED THROUGH A WRITTEN EMPLOYMENT AGREEMENT WITH THE CEO. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF GIFT ANNUITIES -65,996. TRANSFER OF NET ASSETS -500,000. FORM 990, PART XII, LINE 2C THE FINANCE COMMITTEE IS RESPONSIBLE FOR THE SELECTION OF AN INDEPENDENT AUDIT FIRM AND OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS. THERE WAS NO CHANGE IN THIS PROCESS FROM THE PRIOR YEAR. FLEET LANDING ENDOWMENT FUND INC ONE FLEET LANDING BLVD ATLANTIC BEACH FL 32233 593248806 PROVIDES FINANCIAL ASSISTANCE TO RESIDENTS OF FLEET LANDING. FL 501(C)(3) LINE 7 POLARIS ENDEAVORS INC 0 POLARIS ENDEAVORS INC ONE FLEET LANDING BLVD ATLANTIC BEACH FL 32233 882247298 DEVELOPMENT OF PROPERTY FL 501(C)(3) LINE 12B, II N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0