2024-11-15T14:07:15-06:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 227 WEST TRADE STREET SUITE 800 CHARLOTTE NC 28202 990 2023-01-01 521266582 WESTMINSTER CANTERBURY OF WINCHESTER INC WEST 5406650156 300 WESTMINSTER CANTERBURY DRIVE WINCHESTER VA 22603 DUANE A WERNECKE DWERNECKE@SVWC.ORG 5406650156 2024-11-15 1 1 KATHERINE A WARLICK P02065266 7049985200 2024-11-15 2023 2024-10-15 13:58:12Z SHENANDOAH VALLEY WESTMINSTER-CANTER GLORIA J SHILEY 300 WESTMINSTER CANTERBURY DRIVE WINCHESTER VA 22603 33758247 0 X WWW.SVWC.ORG X 1982 VA ENABLING RESIDENTS TO USE THEIR GIFTS FULLY, LIVE LIVES RICHLY, & ENJOY THE YEARS GOD HAS GIVEN. 19 19 396 20 0 0 155800 83111 29212518 32353834 1740418 1321302 5000 0 31113736 33758247 0 0 0 0 15576712 17316008 0 0 273693 13896416 16021579 29473128 33337587 1640608 420660 142821645 213112500 119126417 188366346 23695228 24746154 X WESTMINSTER CANTERBURY OF WINCHESTER, INC. ("SVWC") IS A NOT-FOR-PROFIT, INTIMATE, CHURCH RELATED CONTINUING CARE RETIREMENT COMMUNITY THAT IS COMMITTED TO ENABLING RESIDENTS TO USE THEIR GIFTS FULLY, LIVE THEIR LIVES RICHLY, AND ENJOY WITH DIGNITY THE YEARS GOD HAS GIVEN THEM. 0 0 29393542 32353834 IN ADDITION TO SERVING RESIDENTS OF SVWC, THE CORPORATION PROVIDES MEETING SPACE FOR LOCAL NON-PROFITS AND CIVIC ORGANIZATIONS; HOSTS CERTAIN COMMUNITY EVENTS; DONATES MEDICAL SUPPLIES TO THE LOCAL FREE MEDICAL CLINIC; BUILDING SUPPLIES TO HABITAT FOR HUMANITY; PURCHASE AND PROVIDE BED LINENS FOR THE WINCHESTER AREA TEMPORARY THERMAL SHELTER DURING WINTER MONTHS; AND PROVIDE FUNDING TO MANY COMMUNITY AND NATIONAL ORGANZATIONS. 29393542 1 1 0 0 0 0 0 0 0 1 1 1 0 1 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 67 0 396 1 0 0 0 0 0 0 0 0 0 0 0 0 X 19 19 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 VA X X DUANE WERNECKE 5406655917 300 WESTMINSTER CANTERBURY DRIVE WINCHESTER VA 22603 R ROB BOYD TREASURER/SECRETARY 1.00 X X 0 0 0 REV DAN MCCOIG CHAIRMAN 1.00 1.00 X X 0 0 0 CINDIA STEWART PHD VICE CHAIR 1.00 X X 0 0 0 MARTIN TABAKA BOARD MEMBER 1.00 X 0 0 0 PAT KOFALT BOARD MEMBER 1.00 X 0 0 0 JEFFREY M WEBBER BOARD MEMBER 1.00 X 0 0 0 COURTNEY WARNER BOARD MEMBER 1.00 X 0 0 0 SUSAN KAGEY CFP BOARD MEMBER 1.00 1.00 X 0 0 0 JOHN DORSEY BOARD MEMBER 1.00 X 0 0 0 PATRICIA BARNES BOARD MEMBER 1.00 X 0 0 0 LINDA GIBSON BOARD MEMBER 1.00 X 0 0 0 DONALD GANSKE BOARD MEMBER 1.00 X 0 0 0 JOHN H ARMSTRONG BOARD MEMBER 1.00 X 0 0 0 MARK LORING BOARD MEMBER 1.00 X 0 0 0 CLARE MONAHAN DAME BOARD MEMBER 1.00 X 0 0 0 LIBBA PENDLETON BOARD MEMBER 1.00 X 0 0 0 CARRIE DECKER BOARD MEMBER 1.00 X 0 0 0 SYLVIA WILSON BOARD MEMBER 1.00 X 0 0 0 BOB PUTTOCK BOARD MEMBER 1.00 X 0 0 0 G JEANNIE SHILEY PRESIDENT/ CEO 39.00 1.00 X 297269 0 65060 DUANE A WERNECKE CFO 39.00 1.00 X 203744 0 77284 CHANDA PALMER CHIEF OPERATING OFFICER 39.00 1.00 X 176458 0 57634 JOHN FERRULLI DIRECTOR OF IT 40.00 X 168333 0 34360 MICHELLE THOMAS DIRECTOR OF HEALTH SERVICES 40.00 X 163237 0 24175 CYNTHIA HUNTER DIRECTOR, HUMAN RESOURCES 40.00 X 143508 0 33857 DONIELLE PALMER DIRECTOR, RESIDENT SERVICES 40.00 X 126984 0 15580 SHERRY HUDSON DIRECTOR, FOUNDATION AND MKTG 40.00 X 111653 0 32150 1391186 0 340100 12 0 1 0 WARFEL CONSTRUCTION 1110 ENTERPRISE ROAD EAST PETERSBURG PA 17520 CONSTRUCTION 44518825 CARROLL CONSTRUCTION 112 LEWIN LANE WINCHESTER VA 22603 CONSTRUCTION 1752747 CORPORATE INTERIOR CONSULTING 115 OLD FOREST CIRCLE WINCHESTER VA 22602 INTERIOR DESIGN 628267 TANDEM SENIOR LIVING 1552A UNION ROAD GASTONIA NC 28054 MARKETING 499293 SIEMENS INDUSTRY PO BOX 2134 CAROL STREAM IL 601322134 CONTRACTOR - AUTOMATION 380564 14 83111 83111 RESIDENT SERVICES 623000 13823968 13823968 AMORTIZED FEES 623000 7597149 7597149 HEALTH CARE SERVICES 623000 4427717 4427717 ASSISTED LIVING REVENU 623000 3397385 3397385 3107615 3107615 32353834 1238929 1238929 70373 12000 0 0 70373 12000 82373 82373 33758247 32353834 0 1321302 877450 737057 127933 12460 13402303 11259052 1953635 189616 351384 323637 24912 2835 1663246 1535400 114768 13078 1021625 875857 131107 14661 50937 50937 74300 74300 1469059 647628 821431 567943 498392 35027 34524 75261 21600 50783 2878 1583248 1559510 23738 26650 14159 12373 118 43469 25961 17387 121 1278277 1278277 6968256 6968256 DIETARY 2028290 2028290 OTHER EXPENSES 1592115 1373445 217403 1267 THERAPY 157824 157824 ACTIVITIES 105950 89197 14618 2135 33337587 29393542 3670352 273693 2197 45970 1254918 3656892 1106690 671553 5218740 27931 31151 816223 861108 240143578 90164914 91898603 149978664 39853558 29465820 7861525 23182602 142821645 213112500 6066271 9867168 54954634 77877778 49211151 93594991 8894361 7026409 119126417 188366346 X 23641503 24684118 53725 62036 23695228 24746154 142821645 213112500 420660 630266 0 X X 0 1 X 1 0 X 283363 228549 333006 155800 83111 1083829 25313414 27384844 29982211 29212518 32353834 144246821 25596777 27613393 30315217 29368318 32436945 145330650 0 0 0 145330650 955664 915812 654185 811067 1238929 4575657 955664 915812 654185 811067 1238929 4575657 -3507 -3507 26548934 28529205 30969402 30179385 33675874 149902800 0.96950 0.97030 0.03050 0.02980 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 55568 7834 63402 52839 5000 -2271 55568 46293 6546 52839 40620 5673 46293 35975 4645 40620 0.50310 0.49690 0 0 3266459 3266459 170872934 73483376 97389558 19169732 15027948 4141784 46834453 1653590 45180863 149978664 INCOME AND GROWTH ACCOUNTS 24250787 F LIQUIDITY RESERVE ACCOUNTS 5142115 F CORPORATE ENDOWMENT FUND 63402 F SCHOLARSHIP FUND 9516 F 29465820 RESIDENT DEPOSITS 21891372 INTEREST RATE SWAP 1134696 HEALTH FUND LONG TERM 88663 INTERCOMPANY RECEIVABLE 67871 23182602 RESIDENT DEPOSITS 3163143 REFUNDABLE ADVANCE ADMISSION DEPOSIT 3542022 CURENT PORTION OF REFUNDABLE ENTRANCE FEES 321244 7026409 X PART V, LINE 4: EARNINGS OF THE ENDOWMENT FUNDS CAN BE USED BY THE ORGANIZATION'S ADMINISTRATION TO THE BENEFIT OF THE ORGANIZATION. PART X, LINE 2: THE ORGANIZATION FILES AS A TAX-EXEMPT ORGANIZATION. MANAGEMENT IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE ITS TAX-EXEMPT STATUS. MANAGEMENT IS NOT AWARE OF ANY SIGNIFICANT ACTIVITIES THAT ARE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME OR EXCISE OR OTHER TAXES. THE ORGANIZATION FOLLOWS THE INCOME TAX STANDARD REGARDING THE RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS, WHICH CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITY'S CONSOLIDATED FINANCIAL STATEMENTS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT PRINCIPLES FOR THE CONSOLIDATED FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. MANAGEMENT HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2023 OR 2022. X X X X X X 0 0 0 1 0 1 0 0 0 G JEANNIE SHILEY PRESIDENT/ CEO 277833 0 13188 0 6248 0 9900 0 55160 0 362329 0 0 0 DUANE A WERNECKE CFO 199315 0 4429 0 0 0 9900 0 67384 0 281028 0 0 0 CHANDA PALMER CHIEF OPERATING OFFICER 174276 0 2182 0 0 0 6972 0 50662 0 234092 0 0 0 JOHN FERRULLI DIRECTOR OF IT 168333 0 0 0 0 0 8031 0 26329 0 202693 0 0 0 MICHELLE THOMAS DIRECTOR OF HEALTH SERVICES 163237 0 0 0 0 0 7711 0 16464 0 187412 0 0 0 CYNTHIA HUNTER DIRECTOR, HUMAN RESOURCES 142758 0 750 0 0 0 6943 0 26914 0 177365 0 0 0 PART I, LINE 3 COMPENSATION FOR THE CEO IS REVIEWED ANNUALLY AND COMPARED TO INDUSTRY STANDARDS BY SVWC'S COMPENSATION CONSULTANT AND BY THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS. COMPENSATION FOR ALL SENIOR MANAGEMENT IS REVIEWED BY THE CEO, DIRECTORS, AND HR, AND AN INDUSTRY SALARY CONSULTANT ON A QUARTERLY OR SEMI-ANNUAL BASIS. DOCUMENTATION ON DELIBERATION AND DECISION IS CONTAINED ON EITHER THE CEO'S COMPUTER FILES OR DIRECTOR OF HR'S COMPUTER FILES. PART I, LINE 5 IN 2021, SVWC ESTABLISHED A MANAGEMENT INCENTIVE PLAN WHICH WAS APPROVED BY SVWC'S BOARD OF TRUSTEES. ONE OF THE PERFORMANCE MEASUREMENTS IS BASED UPON THE NET OPERATING MARGIN AND NET OPERATING MARGIN ADJUSTED. THESE TWO PERFORMANCE RATIOS IS A DIRECT MEASURE OF SVWC'S NET REVENUE OF THE ORGANIZATION. THE BONUS THAT WAS PAID IN FISCAL YEAR ENDING 12/31/2023 WAS FROM THE FINANCIAL PERFORMANCE OF THE PRIOR YEAR. PART I, LINE 6 A MANAGEMENT INCENTIVE PLAN INCLUDES A PERFORMANCE MEASUREMENT BASED UP ON THE NET OPERATING MARGIN AND THE NET OPERATING MARGIN ADJUSTED. THESE TWO PERFORMANCE RATIOS ARE A DIRECT MEASURE OF SVWC'S NET REVENUE OF THE ORGANIZATION. A EDA OF THE CITY OF WINCHESTER VA 521232253 NONEAVAIL 2021-05-12 30388088 REFUND OF THE 2014 TAX-EXEMPT BONDS AND FINANCE COSTS OF CURRENT BOND 0 0 0 B EDA OF THE CITY OF WINCHESTER VA 521232253 NONEAVAIL 2022-07-15 71000000 FINANCE COSTS OF EXPANSION PROJECT AND AMOUNTS REQUIRED FOR ISSUANCE COSTS 0 0 0 C EDA OF THE CITY OF WINCHESTER VA 521232253 NONEAVAIL 2023-10-25 52500000 TO FINANCE A PORTION OF THE COSTS OF AN EXPANSION PROJECT 0 0 0 A 4978746 30388088 195562 30192526 1 0 1 1 B 9493570 71000000 858250 61250643 8891107 0 0 0 1 C 52500000 706247 7585667 44208086 0 0 0 1 A 0 1 0 0 0.00300 0.00300 0 0 1 B 0 1 0 0 0.00300 0.00300 0 0 1 C 0 1 0 0 0.00300 0.00300 0 0 1 A 0 0 1 0 0 1 ATLANTIC UNION PUBLIC FINANCE 11.000000000000 0 0 0 0 1 B 0 1 0 0 0 1 ATLANTIC UNION PUBLIC FINANCE 10.500000000000 0 0 0 0 1 C 0 1 0 0 0 1 ATLANTIC UNION PUBLIC FINANCE 10.000000000000 0 0 0 0 1 A 0 B 0 C 0 FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE CONSISTS OF THE CHAIR AND VICE-CHAIR OF THE BOARD ALONG WITH THE CHAIRS OF THE FINANCE COMMITTEE, PROPERTY & PLANNING COMMITTEE, AND THE RESIDENT SERVICES COMMITTEE ALL OF WHOM MUST BE MEMBERS OF THE BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE HAS THE POWERS OF THE BOARD OF TRUSTEES IN THE MANAGEMENT OF THE BUSINESS AND AFFAIRS OF THE CORPORATION DURING INTERVALS BETWEEN MEETINGS OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT ELECTRONICALLY DISTRIBUTES THE FEDERAL FORM 990 PRIOR TO FILING WITH THE IRS. QUESTIONS AND OR CONCERNS BY THE ORGANIZATIONS OFFICERS AND BOARD MEMBERS MAY BE FILED ELECTRONICALLY WITH A MANAGEMENT REPRESENTATIVE. DISCUSSIONS CONCERNING THE FORM 990 ARE ALSO ENTERTAINED AT THE NEXT AVAIABLE BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 12C THE POLICY IS REVIEWED BY THE MEMBERS ANNUALLY. IF A CONFLICT IS FOUND TO EXIST, THE AFFECTED BOARD MEMBER IS ASKED TO ABSTAIN FROM SERVING. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE CEO IS REVIEWED ANNUALLY AND COMPARED TO INDUSTRY STANDARDS BY SVWC'S COMPENSATION CONSULTANT AND BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. COMPENSATION FOR ALL SENIOR MANAGEMENT IS REVIEWED BY SVWC'S CEO, DIRECTOR OF HR, AND BY AN INDUSTRY SALARY CONSULTANT ON A QUARTERLY OR SEMI-ANNUAL BASIS. DOCUMENTATION ON DELIBERATION AND DECISION IS CONTAINED ON EITHER CEO'S COMPUTER FILES OR DIRECTOR OF HR COMPUTER FILES. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 18 ANNUAL DISCLOSURE THROUGH THE STATE CORPORATION COMMISSION WEBSITE. FORM 990, PART VI, SECTION C, LINE 19 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 ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE ORGANIZATION HAS NOT CHANGED ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. SHENANDOAH VALLEY WESTMINSTER-CANTERBURY FOUNDATION 300 WESTMINSTER-CANTERBURY DR WINCHESTER VA 22603 474751000 SUPPORTING ORGANIZATION VA 501(C)(3) LINE 12A, I WESTMINSTER CANTERBURY OF WINCHESTER 1 0 0 1 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 SHENANDOAH VALLEY WESTMINSTER-CANTERBURY FOUNDATION C 83111 CASH