2025-04-04T10:52:38-05:00 2024-06-30 540504608 BROWN EDWARDS & COMPANY LLP 3906 ELECTRIC ROAD ROANOKE VA 24018 990 2023-07-01 540738784 EASTWOOD ASSISTED LIVING INC EAST 5402652177 367 HERSHBERGER ROAD NW ROANOKE VA 24012 C MICHAEL SHANNON CFO 5402652177 2025-04-02 1 0 EVAN ROSS P01786214 5403450936 2025-04-02 2023 2025-03-06 01:10:19Z C MICHAEL SHANNON 367 HERSHBERGER ROAD NW ROANOKE VA 24012 4239501 0 X WWW.FRIENDSHIP.US X 1961 VA SUPPORTING FRIENDS BY PROVIDING PEACE OF MIND 10 10 83 14 0 0 0 36 4016416 4112914 -7637 0 201697 111749 4210476 4224699 0 0 0 0 2375038 2584604 0 0 0 2190615 2036053 4565653 4620657 -355177 -395958 2789644 2580134 3836314 4022762 -1046670 -1442628 SUPPORTING FRIENDS BY PROVIDING PEACE OF MIND 0 0 3699869 4224699 ORGANIZATION MAINTAINS TWENTY-FOUR HOUR NURSING STAFF TO ACCOMODATE THE AVERAGE 85.66 RESIDENTS. WE HAVE 8.5 AUXILLARY GRANTS RESIDENTS THAT RELY ON MEDICAID FUNDS TO PAY THEIR RENT, WHICH ARE ACCEPTED AT A DISCOUNTED RATE. ALSO, WE ACCOMODATE AN AVERAGE OF 7 NEED BASED RESIDENTS, WHO ARE RESIDENTS THAT WE PROVIDE OUR SERVICES TO FOR A REDUCED RATE, BECAUSE OF THEIR LIMITED MONETARY FUNDS. SERVICES THAT THE NURSING STAFF PROVIDE ARE OFFERED IN FOUR DIFFERENT LEVELS. THESE SERVICES INCLUDE ASSISTANCE WITH TAKING MEDICINE, BATHING AND/OR GROOMING, AND 24 HOUR NURSING SUPERVISION. THE SUPERVISION IS ACCOMPLISHED BY MAINTAINING A LICENSED NURSE ON DUTY 24 HOURS A DAY. IN ADDITION TO NURSING SERVICES PROVIDED, THE ORGANIZATION ALSO MAINTAINED A DIETARY STAFF IN ORDER TO PROVIDE THREE NUTRITIOUS MEALS. 3699869 1 0 0 1 0 0 0 0 1 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 X 19 0 1 83 1 0 0 0 0 0 0 0 0 0 0 0 0 X 10 10 0 1 0 0 1 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X VALLEY MANAGEMENT CO INC 5402652177 367 HERSHBERGER ROAD NW ROANOKE VA 24012 X GLEN C COMBS DIRECTOR 1.00 3.00 X 0 47100 0 ROBERT C LAWSON CHAIRMAN 1.00 3.00 X X 0 64000 0 JOHN B WILLIAMS III DIRECTOR 1.00 3.00 X 0 20500 0 LUCIAN Y GROVE JR DIRECTOR 1.00 3.00 X 0 47100 0 CYNDA A JOHNSON DIRECTOR 1.00 3.00 X 0 47100 0 EDWIN R FEINOUR DIRECTOR 1.00 3.00 X 0 40000 0 KATHRYN K OELSCHLAGER VICE-CHAIRMAN 1.00 3.00 X X 0 52500 0 ROBERT H SANDEL DIRECTOR 1.00 3.00 X 0 47100 0 NATHANIEL BISHOP DIRECTOR 1.00 3.00 X 0 40000 0 GREGORY W FELDMANN DIRECTOR 0.00 3.00 X 0 0 0 JOSEPH M HOFF PRESIDENT & CEO 1.00 39.00 X 0 635963 20335 C MICHAEL SHANNON CFO 1.00 39.00 X 0 461941 13846 CINDY MITCHELL BOARD SECRETARY 1.00 39.00 X 0 73278 1335 BENJAMIN HIGGINS DIRECTOR, HEALTHCARE OPERA 1.00 39.00 X 0 230985 10946 ANGELA HUGHES VP HUMAN RESOURCES & COMPL 1.00 39.00 X 0 213703 10643 MARY RODGER DIRECTOR OF ACCOUNTING 1.00 39.00 X 0 181023 16253 STEPHANIE DUNCAN DIRECTOR OF REVENUE CYCLE 1.00 39.00 X 0 148437 10965 TODD LOWE DIRECTOR OF IT 1.00 39.00 X 0 146989 14966 ASHLEY JEWELL DIRECTOR OF HUMAN RESOURCE 1.00 39.00 X 0 126301 8617 0 2624020 107906 0 0 1 0 0 36 36 ROOM, BOARD, NURSING 623000 4033426 4033426 MEALS 623000 57380 57380 BEAUTY SHOP 812900 19353 19353 LAUNDRY 812900 2755 2755 4112914 125867 14802 111065 111065 111065 OTHER INCOME 900099 684 684 684 4224699 4224663 0 0 2235356 2004117 231239 32020 29733 2287 147926 137360 10566 169302 152717 16585 362278 362278 2378 2378 28113 28113 885 60 825 24298 24298 528550 458352 70198 1937 1937 26916 18033 8883 474023 317587 156436 74584 49970 24614 FOOD AND DIETARY SERVIC 309644 309644 MISCELLANEOUS 100260 99028 1232 PURCHASE SERVICES 73650 72231 1419 ANCILLARY 9953 9953 18584 10593 7991 4620657 3699869 920788 0 48575 70784 8440 8054 15439 18484 11632143 9152511 2713866 2479632 3324 3180 2789644 2580134 256735 243098 3665 3665 3575914 3775999 3836314 4022762 X -1046670 -1442628 -1046670 -1442628 2789644 2580134 -395958 0 X X 0 1 X 1 0 X 36 36 3491711 3169254 3468881 4016416 4110159 18256421 3491711 3169254 3468881 4016416 4110195 18256457 0 537333 749715 614245 450458 650031 3001782 537333 749715 614245 450458 650031 3001782 15254675 112824 108401 134812 108967 125867 590871 112824 108401 134812 108967 125867 590871 6252 8990 3178 107886 684 126990 3610787 3286645 3606871 4233269 4236746 18974318 0.80400 0.82740 0.03110 0.03140 X 0 0 0 0 0 0 0 0 1 3342 3342 0 0 1 X 8353612 6448303 1905309 3164757 2628188 536569 113774 76020 37754 2479632 CASH DEFICIT 2735602 NOTES PAYABLE 15000 DUE TO AFFILIATES 1025397 3775999 X 4277163 55447 55447 4221716 2983 2983 4224699 4673118 55444 55444 4617674 2983 2983 4620657 PART IV, LINE 2B: FUNDS MAINTAINED BY ORGANIZATION FOR RESIDENTS IN ACCORDANCE TO REGULATIONS. PART X, LINE 2: EASTWOOD ASSISTED LIVING INC. IS A NOT-FOR-PROFIT COMPANY UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS NOT GENERALLY SUBJECT TO INCOME TAXES UNDER PRESENT TAX LAWS. EASTWOOD ASSISTED LIVING INC. HAS DETERMINED IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF JUNE 30, 2024. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES SHOWN NET ON FINANCIAL STATEMENTS 14,802. MISC EXPENSE NETTED AGAINST INCOME ON FINANCIAL STATEMENTS 40,636. ROUNDING 9. PART XI, LINE 4B - OTHER ADJUSTMENTS: BAD DEBTS SHOWN NET ON FINANCIAL STATEMENTS 2,983. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES SHOWN NET ON FINANCIAL STATEMENTS 14,802. ROUNDING 6. MISC EXPENSE NETTED AGAINST INCOME ON FINANCIAL STATEMENTS 40,636. PART XII, LINE 4B - OTHER ADJUSTMENTS: BAD DEBTS SHOWN NET ON FINANCIAL STATEMENTS 2,983. X X X X X X 0 1 0 0 0 1 1 0 0 JOSEPH M HOFF PRESIDENT & CEO 0 392473 0 222488 0 21002 0 9669 0 10666 0 656298 0 0 C MICHAEL SHANNON CFO 0 308611 0 136765 0 16565 0 8334 0 5512 0 475787 0 0 BENJAMIN HIGGINS DIRECTOR, HEALTHCARE OPERA 0 193955 0 36953 0 77 0 5819 0 5127 0 241931 0 0 ANGELA HUGHES VP HUMAN RESOURCES & COMPL 0 171029 0 42597 0 77 0 5131 0 5512 0 224346 0 0 MARY RODGER DIRECTOR OF ACCOUNTING 0 169346 0 11600 0 77 0 5080 0 11173 0 197276 0 0 TODD LOWE DIRECTOR OF IT 0 131312 0 15600 0 77 0 3924 0 11042 0 161955 0 0 STEPHANIE DUNCAN DIRECTOR OF REVENUE CYCLE 0 132260 0 16100 0 77 0 3968 0 6997 0 159402 0 0 PART I, LINE 4B C. MICHAEL SHANNON RECEIVED $16,654 FOR A NON-QUALIFIED RETIREMENT PROGRAM. JOE HOFF RECEIVED $21,137 FOR A NON-QULAIFIED RETIREMENT PROGRAM. THE PROGRAM IS AN EXECUTIVE INVESTMENT TRUST PLAN FOR HIGHLY COMPENSATED AND MANAGEMENT EMPLOYEES. EACH PRESENT AND FUTURE EMPLOYEE OF THE COMPANY AND ITS SUBSIDIARIES WHOM THE COMMITTEE (THE EMPLOYMENT COMPENSATION COMMITTEE OF THE BOARD) DETERMINES TO BE AN ELIGIBLE EMPLOYEE SHALL BE ELIGIBLE TO RECEIVE AN AWARD UNDER THE PLAN. THE EMPLOYEE MUST BE A FULL-TIME ACTIVE PARTICIPANT TO RECEIVE THE AWARD. PART I, LINE 6 THE INDIVIDUALS RECEIVED VARIABLE COMPENSATION PAYMENTS BASED ON A PERFORMANCE SCORECARD. IN TURN, THE SCORECARD MEASURES ARE BASED ON A NUMBER OF MEASURES IN THE CATEGORIES OF FINANCIAL PERFORMANCE, QUALITY PERFORMANCE, INNOVATION AND GROWTH. FOR THE AFFILIATED CORPORATIONS, JOSEPH HOFF, PRESIDENT AND CEO, RECEIVED $222,488 C. MICHAEL SHANNON, CFO, RECEIVED $136,765, BENJAMIN HIGGINS, DIRECTOR OF HEALTHCARE OPERATIONS, RECEIVED $36,953, CINDY MITCHELL, SECRETARY, RECEIVED $4,600. PART V, LINE 2B FRIENDSHIP HEALTH AND REHAB CENTER, INC, EIN 23-7126857 IS THE PAYMASTER FOR TEN RELATED C CORPORATIONS WHICH HAVE EMPLOYEES. THIS CORPORATION PAYS ALL EMPLOYEES AND PREPARES AND FILES ALL REQUIRED FEDERAL PAYROLL RETURNS. EACH CORPORATION AND ITS EMPLOYEES ARE AS FOLLOWS: FRIENDSHIP HEALTH AND REHAB CENTER INC 492 EMPLOYEES FRIENDSHIP APARTMENT VILLAGE CORP 32 EASTWOOD ASSISTED LIVING, INC 83 PROFESSIONAL HEALTH CARE SERVICES, INC 42 FRIENDSHIP PHARMACY, INC 4 VALLEY MANAGEMENT CO, INC 59 LTC SERVICES, INC 25 FRIENDSHIP OUTPATIENT & WELLNESS SERVICES, INC 20 FRIENDSHIP FOUNDATION 01 FRIENDSHIP HEALTH AND REHAB CENTER SOUTH 352 PHYSICIAN CLINIC 03 RICHFIELD FRIENDSHIP HEALTH AND REHAB CENTER 149 RICHFIELD JCT 59 RICHFIELD OAKS 58 RICHFIELD INDEPENDENT LIVING 16 RICHFIELD TOWN CENTER 27 TOTAL 1422 FORM 990, PART VI, SECTION A, LINE 3 THE CORPORATION PAYS MANAGEMENT FEES TO VALLEY MANAGEMENT CO., INC. TO PROVIDE MANAGEMENT OF ALL ASPECTS OF THE OPERATION, INCLUDING, BUT NOT LIMITED TO HUMAN RESOURCE SERVICES, ACCOUNTING, BILLING, COLLECTIONS, PAYROLL, AND GENERAL ADMINISTRATION. VALLEY MANAGEMENT IS RESPONSIBLE FOR COORDINATING THE PREPARATION OF MONTHLY FINANCIAL STATEMENTS, MAINTAINING AND MANAGING BANK ACCOUNTS AND WORKING CAPITAL. VALLEY MANAGEMENT IS ALSO RESPONSIBLE FOR APPLYING FOR, OBTAINING, AND MAINTAINING ALL NECESSARY LICENSES, PERMITS, CONSENTS, AND APPROVALS FROM ALL GOVERNMENTAL AGENCIES WHICH HAVE JURISDICTION OVER THE OPERATION OF THE ORGANIZATION. THE COMPANY AGREES TO OPERATE AND MAINTAIN THE ORGANIZATION IN COMPLIANCE WITH THE REQUIREMENTS OF ANY STATUTE, ORDINANCE, LAW, RULE, REGULATION OR ORDER OF ANY GOVERNMENTAL OR REGULATORY BODY HAVING JURISDICTION OVER THE ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 6 THE CORPORATION HAS ONE MEMBER, FRIENDSHIP FOUNDATION. FORM 990, PART VI, SECTION B, LINE 11B AN INDEPENDENT ACCOUNTING FIRM PREPARES THE FORM 990 AND FORWARDS IT TO THE CFO AND CEO FOR REVIEW. THE CFO AND CEO RETURN THE FORM 990 TO THE CPA TO RESOLVE QUESTIONS AND MAKE CHANGES. THE FORM 990 GOES BACK TO THE CFO AND CEO TO ENSURE QUESTIONS AND CHANGES HAVE BEEN MADE. A COPY OF THE FORM 990 IS THEN PROVIDED TO EACH BOARD MEMBER BY THE CFO APPROXIMATELY 2 WEEKS PRIOR TO THE DUE DATE. THEY ARE GIVEN 1 WEEK TO REVIEW AND FORWARD QUESTIONS TO THE CFO. REVIEW QUESTIONS ARE RESOLVED AND THE FORM 990 IS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE POLICY IS INCLUDED IN BOTH THE EMPLOYEE HANDBOOK AND THE CODE OF CONDUCT, WHICH IS ISSUED TO AND DISCUSSED WITH EACH EMPLOYEE AND BOARD MEMBER. AN ANNUAL LETTER AFFIRMING THE POLICY AND ASKING FOR WRITTEN DECLARATIONS OF ANY POTENTIAL CONFLICTS IS SENT TO ALL BOARD MEMBERS AND APPROXIMATELY 20% OF EMPLOYEES (ALL MANAGERS, BUSINESS OFFICE STAFF,PURCHASING DEPARTMENT STAFF, HUMAN RESOURCES STAFF, ETC.). RESPONSES ARE REVIEWED BY THE CORPORATE COMPLIANCE OFFICER, REPORTED TO THE BOARD, AND ACTED UPON AS NEEDED. ALSO, THE CORPORATION IS AWARE OF THE BUSINESS AFFILIATIONS OF OFFICERS AND DIRECTORS AND ENSURES THAT EACH IS AWARE OF THE AFFILIATIONS. WHENEVER DISCUSSIONS OCCUR IN WHICH A CONFLICT EXISTS, THE INDIVIDUAL RECUSES THEMSELF FROM THE PROCEEDINGS SO THE OTHER MEMBERS CAN DISCUSS THE MATTER FREELY. EACH YEAR AT ITS CORPORATE GOVERNANCE COMMITTEE MEETING AND ANNUAL BOARD MEETING A REPORT IS MADE TO THE BOARD OF DIRECTORS DESCRIBING THE BUSINESS AFFILIATIONS AND ANY BUSINESS TRANSACTIONS THAT OCCURRED DURING THE YEAR BETWEEN THE CORPORATION AND THE EXTERNAL BUSINESSES IN WHICH THE DIRECTORS OR OFFICERS ARE INVOLVED. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE OF THE BOARD ROUTINELY ENGAGES AN EXTERNAL CONSULTANT TO REVIEW BENCHMARK COMPENSATION DATA FOR THE CEO AND OTHER KEY MANAGEMENT POSITIONS. A NUMBER OF NATIONALLY RECOGNIZED SALARY SURVEYS ARE UTILIZED AS PART OF THIS PROCESS AND THE CONSULTANT'S WRITTEN REPORT IS RECEIVED BY THE COMPENSATION COMMITTEE AND THE FULL BOARD. ANNUALLY, THE COMPENSATION COMMITTEE REVIEWS THE COMPENSATION FOR EACH MEMBER OF THIS GROUP UTILIZING THE BENCHMARK DATA AND ANY ADJUSTMENTS IN COMPENSATION ARE RECOMMENDED FROM THE COMPENSATION COMMITTEE TO THE FULL BOARD FOR CONSIDERATION AND APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST, THE COMPANY WILL PROVIDE COPIES OF GOVERNING DOCUMENTS, POLICIES, FINANCIAL STATEMENTS, AND FORM 990S TO PERSONS ASKING FOR THE DOCUMENTS. PART VII THE ORGANIZATION SHARES BOARD MEMBERS AND OFFICERS WITH A RELATED ORGANIZATION. THE AVERAGE HOURS A WEEK THAT EACH INDIVIDUAL SPENDS WITH THE RELATED ORGANIZATION IS AS FOLLOWS: VALLEY MANAGEMENT CO, INC: EDWIN R. FEINOUR 4.00 GLEN C. COMBS 6.00 ROBERT C. LAWSON 4.00 ROBERT H. SANDEL 4.00 KATHRYN K. OELSCHLAGER 3.00 JOSEPH M. HOFF 2.00 C. MICHAEL SHANNON 2.00 NATHANIEL BISHOP 4.00 JOHN WILLIAMSON 5.00 CYNDA JOHNSON 3.00 LUCIAN GROVE JR. 3.00 GREGORY FELDMANN 3.00 PART XII, LINE 2 THE CORPORATION PARTICIPATES IN A CONSOLIDATED AUDIT WITH AFFILIATED COMPANIES REPORTED ON SCHEDULE R. WHEN FINISHED, THE AUDITED STATEMENTS ARE PRESENTED TO THE FINANCE COMMITTEE AND THE BOARD OF DIRECTORS BY THE EXTERNAL AUDITORS. PART XII, LINE 2C THIS PROCESS HAS NOT CHANGED FROM PRIOR YEAR. FRIENDSHIP APARTMENT VILLAGE CORP 367 HERSHBERGER ROAD NW ROANOKE VA 24012 540842686 INDEPENDENT LIVING HOUSING VA 501(C)(3) LINE 11 FRIENDSHIP FOUNDATION 1 FRIENDSHIP FOUNDATION 367 HERSHBERGER ROAD NW ROANOKE VA 24012 541427948 CONTROLLING ORGANIZATION, MANAGEMENT SERVICES VA 501(C)(3) LINE 12D, III-O 1 FRIENDSHIP HEALTH & REHAB CENTER 367 HERSHBERGER ROAD NW ROANOKE VA 24012 237126857 LONG TERM NURSING CARE VA 501(C)(3) LINE 11 FRIENDSHIP FOUNDATION 1 FRIENDSHIP OUTPATIENT AND WELLNESS CENTER 367 HERSHBERGER ROAD NW ROANOKE VA 24012 260152373 OUTPATIENT THERAPY SERVICES VA 501(C)(3) LINE 11 FRIENDSHIP FOUNDATION 1 FIENDSHIP HEALTH AND REHAB CENTER SOUTH 367 HERSHBERGER ROAD NW ROANOKE VA 24012 454983293 REHAB & NURSING FACILITY VA 501(C)(3) LINE 11 FRIENDSHIP FOUNDATION 1 FRIENDSHIP PHARMACY INC 367 HERSHBERGER ROAD ROANOKE VA 24012 541461437 PHARMACY VA N/A C 1 FRIENDSHIP PROPERTIES INC 367 HERSHBERGER ROAD ROANOKE VA 24012 541262492 LEASING COMPANY VA N/A C 1 LTC SERVICES INC 367 HERSHBERGER ROAD ROANOKE VA 24012 541461441 MAINTENANCE VA N/A C 1 PROFESSIONAL HEALTH CARE SERVICES INC 367 HERSHBERGER ROAD ROANOKE VA 24012 541421581 HOME CARE SERVICES VA N/A C 1 VALLEY MANAGEMENT COMPANY INC 367 HERSHBERGER ROAD ROANOKE VA 24012 541461444 MANAGEMENT VA N/A C 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 FRIENDSHIP HEALTH AND REHAB CENTER INC P 2379390 CASH LTC SERVICES INC M 219015 CASH VALLEY MANAGEMENT COMPANY M 371912 CASH