TY 2023 Form 990

(A) Name and title	(B) Average hours per week (list any hours for related organizations below dotted line)	(C) Position (do not check more than one box, unless person is both an officer and a director/trustee)	(E) Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC)	(F) Estimated amount of other compensation from the organization and related organizations
(1) THOMAS P GARVIN...................................................................... PRESIDENT & CEO	22.00 ................. 23.00		X			452,599	207,903	32,466
(2) ROBERT L SUPPER...................................................................... SENIOR VP OF FINANCE & CFO	22.00 ................. 23.00		X			251,181	133,704	25,640
(3) JANET THOMPSON...................................................................... VP MARKETING	45.00 ................. 0.00			X		211,134	0	12,806
(4) MEREDITH FEHER...................................................................... SENIOR VP OF HEALTH CARE SVCS.	22.50 ................. 22.50			X		202,408	102,546	31,614
(5) MARC HEIL...................................................................... VP BUILDING SERVICES	45.00 ................. 0.00			X		185,372	0	28,377
(6) LAUREN KELLEY...................................................................... VP HUMAN RESOURCES	45.00 ................. 0.00			X		177,276	0	30,696
(7) JACQUELINE DONNELLY...................................................................... DIRECTOR OF NURSING	45.00 ................. 0.00			X		194,196	0	10,719
(8) CHAD MINIX...................................................................... CONTROLLER	45.00 ................. 0.00			X		163,912	0	32,863
(9) PATRICIA RODGERS...................................................................... VP, DIR. OF OPS., WAVERLY CARE	0.25 ................. 44.75			X		182,599	85,953	25,293
(10) JONATHAN P PRAK...................................................................... DIRECTOR OF INFO. TECHNOLOGY	45.00 ................. 0.00				X	131,836	0	42,406
(11) MARGARET MARY FAHA...................................................................... SALES COUNSELOR	45.00 ................. 0.00				X	148,399	0	22,072
(12) AUDREY CARTER-HILLMAN...................................................................... REGISTERED NURSE	45.00 ................. 0.00				X	147,007	0	21,744
(13) THOMAS E LYNCH...................................................................... DIRECTOR OF MAINTENANCE	45.00 ................. 0.00				X	115,842	0	32,398
(14) ELENI COSTA...................................................................... REGISTERED NURSE	45.00 ................. 0.00				X	104,813	0	41,168
(15) STEVEN D KIRKPATRICK...................................................................... CHAIR	1.00 ................. 2.00	X	X			0	0	0
(16) AMBASSADOR KATHERINE SHIRLEY...................................................................... VICE CHAIR	1.00 ................. 1.00	X	X			0	0	0
(17) ROBERT K BARRY...................................................................... TRUSTEE	1.00 ................. 0.00	X				0	0	0

(A) Name and title	(B) Average hours per week (list any hours for related organizations below dotted line)	(C) Position (do not check more than one box, unless person is both an officer and a director/trustee)
(18) RICHARD E BAUER........................................................................ TRUSTEE	1.00 .......................1.00	X
(19) LILLIAN N CASSEL........................................................................ TRUSTEE	1.00 .......................0.00	X
(20) ELEANOR L DAVIS........................................................................ TRUSTEE	1.00 .......................0.00	X
(21) ANDREA GILBERT........................................................................ TRUSTEE	1.00 .......................2.00	X
(22) WILLIAM Y GILES........................................................................ TRUSTEE	1.00 .......................0.00	X
(23) GERALD J HANSEN........................................................................ TRUSTEE	1.00 .......................0.00	X
(24) SCOTT M JENKINS........................................................................ TRUSTEE	1.00 .......................0.00	X
(25) EDWIN B MAHONEY........................................................................ TRUSTEE	1.00 .......................0.00	X
(26) LAUREN M MASSIMO........................................................................ TRUSTEE	1.00 .......................0.00	X
(27) ELIZABETH P MCLEAN........................................................................ TRUSTEE	1.00 .......................0.00	X
(28) EMORY H WOODWARD........................................................................ TRUSTEE	1.00 .......................0.00	X
(29) ANNE N CONROY........................................................................ TRUSTEE TO JUN 2023	1.00 .......................2.00	X
(30) DONALD R FLEISCHER........................................................................ TRUSTEE TO JUN 2023	1.00 .......................1.00	X
(31) HOWARD L MEYERS........................................................................ TRUSTEE TO JUN 2023	1.00 .......................1.00	X
(32) ROBERT L ROBINSON........................................................................ TRUSTEE TO JUN 2023	1.00 .......................1.00	X

(A) Name and business address	(B) Description of services	(C) Compensation
LIBERTY BUILDERS 619 ELLIS ROAD HAVERTOWN,PA19083	CONSTRUCTION SERVICES	3,044,066
UNIDINE CORPORATION PO BOX 102289 ATLANTA,GA303682289	DINING SERVICES	2,578,442
WAVERLY SENIOR SERVICES 1400 WAVERLY ROAD GLADWYNE,PA19035	MANAGEMENT SERVICES	828,108
SELECT REHABILITATION LLC PO BOX 71985 CHICAGO,IL606941985	REHABILITATION THERAPY SERVICES	788,375
IT LANDES & SON INC 247 MAIN STREET HARLEYSVILLE,PA19438	PLUMBING AND HVAC SERVICES	498,453
2 Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization 22

- TIN:

SCHEDULE A
(Form 990)

Department of the Treasury
Internal Revenue Service

Public Charity Status and Public Support

Complete if the organization is a section 501(c)(3) organization or a section 4947(a)(1) nonexempt charitable trust.
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Attach to Form 990 or Form 990-EZ.
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Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

2023

Open to Public
Inspection

Name of the organization

WAVERLY HEIGHTS

Employer identification number

23-2212842

Part I

Reason for Public Charity Status (All organizations must complete this part.) See instructions.

The organization is not a private foundation because it is: (For lines 1 through 12, check only one box.)

A church, convention of churches, or association of churches described in section 170(b)(1)(A)(i).

A school described in section 170(b)(1)(A)(ii). (Attach Schedule E (Form 990).)

A hospital or a cooperative hospital service organization described in section 170(b)(1)(A)(iii).

A medical research organization operated in conjunction with a hospital described in section 170(b)(1)(A)(iii). Enter the hospital's name, city, and state:

An organization operated for the benefit of a college or university owned or operated by a governmental unit described in section 170(b)(1)(A)(iv). (Complete Part II.)

A federal, state, or local government or governmental unit described in section 170(b)(1)(A)(v).

An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi). (Complete Part II.)

A community trust described in section 170(b)(1)(A)(vi). (Complete Part II.)

An agricultural research organization described in 170(b)(1)(A)(ix) operated in conjunction with a land-grant college or university or a non-land grant college of agriculture. See instructions. Enter the name, city, and state of the college or university:

An organization that normally receives: (1) more than 33 1/3% of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions—subject to certain exceptions, and (2) no more than 33 1/3% of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975. See section 509(a)(2). (Complete Part III.)

An organization organized and operated exclusively to test for public safety. See section 509(a)(4).

An organization organized and operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of one or more publicly supported organizations described in section 509(a)(1) or section 509(a)(2). See section 509(a)(3). Check the box on lines 12a through 12d that describes the type of supporting organization and complete lines 12e, 12f, and 12g.

Type I. A supporting organization operated, supervised, or controlled by its supported organization(s), typically by giving the supported organization(s) the power to regularly appoint or elect a majority of the directors or trustees of the supporting organization. You must complete Part IV, Sections A and B.

Type II. A supporting organization supervised or controlled in connection with its supported organization(s), by having control or management of the supporting organization vested in the same persons that control or manage the supported organization(s). You must complete Part IV, Sections A and C.

Type III functionally integrated. A supporting organization operated in connection with, and functionally integrated with, its supported organization(s) (see instructions). You must complete Part IV, Sections A, D, and E.

Type III non-functionally integrated. A supporting organization operated in connection with its supported organization(s) that is not functionally integrated. The organization generally must satisfy a distribution requirement and an attentiveness requirement (see instructions). You must complete Part IV, Sections A and D, and Part V.

Check this box if the organization received a written determination from the IRS that it is a Type I, Type II, Type III functionally integrated, or Type III non-functionally integrated supporting organization.

Enter the number of supported organizations ...............................

Provide the following information about the supported organization(s).

(i) Name of supported organization	(ii) EIN	(iv) Is the organization listed in your governing document?		(v) Amount of monetary support (see instructions)	(vi) Amount of other support (see instructions)
(i) Name of supported organization	(ii) EIN	Yes	No	(v) Amount of monetary support (see instructions)	(vi) Amount of other support (see instructions)


Total

For Paperwork Reduction Act Notice, see the Instructions for
Form 990 or 990-EZ.

Cat. No. 11285F

Schedule A (Form 990) 2023

Page 2

Part II

Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi)
(Complete only if you checked the box on line 5, 7, or 8 of Part I or if the organization failed to qualify under Part III. If the organization failed to qualify under the tests listed below, please complete Part III.)

Section A. Public Support

Calendar year (or fiscal year beginning in)		(a) 2019	(b) 2020	(c) 2021	(d) 2022	(e) 2023	(f) Total
1	Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grant.") ..
2	Tax revenues levied for the organization's benefit and either paid to or expended on its behalf ....
3	The value of services or facilities furnished by a governmental unit to the organization without charge..
4	Total. Add lines 1 through 3
5	The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f) ..
6	Public support. Subtract line 5 from line 4.

Section B. Total Support

Calendar year (or fiscal year beginning in)		(a) 2019	(b) 2020	(c) 2021	(d) 2022	(e) 2023	(f) Total
7	Amounts from line 4..
8	Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources...
9	Net income from unrelated business activities, whether or not the business is regularly carried on..
10	Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.)..
11	Total support. Add lines 7 through 10

Gross receipts from related activities, etc. (see instructions) ..................

First 5 years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization, check this box and stop here ........................................ right arrow

Section C. Computation of Public Support Percentage

Public support percentage for 2023 (line 6, column (f) divided by line 11, column (f)) .........

Public support percentage for 2022 Schedule A, Part II, line 14 ...............

16a

33 1/3% support test—2023. If the organization did not check the box on line 13, and line 14 is 33 1/3% or more, check this box
and stop here. The organization qualifies as a publicly supported organization ....................... right arrow

33 1/3% support test—2022. If the organization did not check a box on line 13 or 16a, and line 15 is 33 1/3% or more, check this
box and stop here. The organization qualifies as a publicly supported organization ..................... right arrow

17a

10%-facts-and-circumstances test—2023. If the organization did not check a box on line 13, 16a, or 16b, and line 14 is 10% or more, and if the organization meets the "facts-and-circumstances" test, check this box and stop here. Explain in Part VI how the organization meets the "facts-and-circumstances" test. The organization qualifies as a publicly supported organization ............ right arrow

10%-facts-and-circumstances test—2022. If the organization did not check a box on line 13, 16a, 16b, or 17a, and line 15 is 10% or more, and if the organization meets the "facts-and-circumstances" test, check this box and stop here. Explain in Part VI how the organization meets the "facts-and-circumstances" test. The organization qualifies as a publicly supported organization ............ right arrow

Private foundation. If the organization did not check a box on line 13, 16a, 16b, 17a, or 17b, check this box and see
instructions ..................................................... right arrow

Schedule A (Form 990) 2023

Page 3

Part III

Support Schedule for Organizations Described in Section 509(a)(2)
(Complete only if you checked the box on line 10 of Part I or if the organization failed to qualify under Part II. If the organization fails to qualify under the tests listed below, please complete Part II.)

Section A. Public Support

Calendar year (or fiscal year beginning in)		(a) 2019	(b) 2020	(c) 2021	(d) 2022	(e) 2023	(f) Total
1	Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") .	680,812	1,611,628	767,024	740,994	416,981	4,217,439
2	Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose	30,846,387	29,872,677	30,219,446	31,914,561	34,016,563	156,869,634
3	Gross receipts from activities that are not an unrelated trade or business under section 513 .....
4	Tax revenues levied for the organization's benefit and either paid to or expended on its behalf...
5	The value of services or facilities furnished by a governmental unit to the organization without charge
6	Total. Add lines 1 through 5	31,527,199	31,484,305	30,986,470	32,655,555	34,433,544	161,087,073
7a	Amounts included on lines 1, 2, and 3 received from disqualified persons	140,500	1,093,923	958,874	680,016	740,372	3,613,685
b	Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year.						0
c	Add lines 7a and 7b..	140,500	1,093,923	958,874	680,016	740,372	3,613,685
8	Public support. (Subtract line 7c from line 6.)						157,473,388

Section B. Total Support

Calendar year (or fiscal year beginning in)		(a) 2019	(b) 2020	(c) 2021	(d) 2022	(e) 2023	(f) Total
9	Amounts from line 6...	31,527,199	31,484,305	30,986,470	32,655,555	34,433,544	161,087,073
10a	Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources..	1,741,359	1,659,906	921,563	2,952,428	3,592,720	10,867,976
b	Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975.	1,703,137	1,069,117	2,852,773			5,625,027
c	Add lines 10a and 10b.	3,444,496	2,729,023	3,774,336	2,952,428	3,592,720	16,493,003
11	Net income from unrelated business activities not included on line 10b, whether or not the business is regularly carried on.
12	Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.) ..	4,197	7,380	1,846	1,219,798	605,621	1,838,842
13	Total support. (Add lines 9, 10c, 11, and 12.)..	34,975,892	34,220,708	34,762,652	36,827,781	38,631,885	179,418,918

First 5 years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization, check this box and stop here................................................. right arrow

Section C. Computation of Public Support Percentage

Public support percentage for 2023 (line 8, column (f) divided by line 13, column (f)) .........

87.770 %

Public support percentage from 2022 Schedule A, Part III, line 15 ...............

88.470 %

Section D. Computation of Investment Income Percentage

Investment income percentage for 2023 (line 10c, column (f) divided by line 13, column (f)) ......

9.190 %

Investment income percentage from 2022 Schedule A, Part III, line 17 .............

9.030 %

19a

33 1/3% support tests-2023. If the organization did not check the box on line 14, and line 15 is more than 33 1/3%, and line 17 is not more than 33 1/3%, check this box and stop here. The organization qualifies as a publicly supported organization ....... right arrow

33 1/3 % support tests—2022. If the organization did not check a box on line 14 or line 19a, and line 16 is more than 33 1/3% and line 18 is not more than 33 1/3%, check this box and stop here. The organization qualifies as a publicly supported organization ..... right arrow

Private foundation. If the organization did not check a box on line 14, 19a, or 19b, check this box and see instructions .... right arrow

Schedule A (Form 990) 2023

Page 4

Part IV

Supporting Organizations

(Complete only if you checked a box on line 12 of Part I. If you checked box 12a, of Part I, complete Sections A and B. If you checked box 12b, of Part I, complete Sections A and C. If you checked box 12c, of Part I, complete Sections A, D, and E. If you checked box12d, of Part I, complete Sections A and D, and complete Part V.)

Section A. All Supporting Organizations

Yes

Are all of the organization’s supported organizations listed by name in the organization’s governing documents?
If "No," describe in Part VI how the supported organizations are designated. If designated by class or purpose,
describe the designation. If historic and continuing relationship, explain.

Did the organization have any supported organization that does not have an IRS determination of status under section 509(a)(1) or (2)? If "Yes," explain in Part VI how the organization determined that the supported organization was described in section 509(a)(1) or (2).

Did the organization have a supported organization described in section 501(c)(4), (5), or (6)? If "Yes," answer lines 3b and 3c below.

Did the organization confirm that each supported organization qualified under section 501(c)(4), (5), or (6) and satisfied the public support tests under section 509(a)(2)? If "Yes," describe in Part VI when and how the organization made the determination.

Did the organization ensure that all support to such organizations was used exclusively for section 170(c)(2)(B) purposes? If "Yes," explain in Part VI what controls the organization put in place to ensure such use.

Was any supported organization not organized in the United States ("foreign supported organization")? If “Yes” and if you checked box 12a or 12b in Part I, answer lines 4b and 4c below.

Did the organization have ultimate control and discretion in deciding whether to make grants to the foreign supported organization? If “Yes,” describe in Part VI how the organization had such control and discretion despite being controlled or supervised by or in connection with its supported organizations.

Did the organization support any foreign supported organization that does not have an IRS determination under sections 501(c)(3) and 509(a)(1) or (2)? If “Yes,” explain in Part VI what controls the organization used to ensure that all support to the foreign supported organization was used exclusively for section 170(c)(2)(B) purposes.

Did the organization add, substitute, or remove any supported organizations during the tax year? If “Yes,” answer lines 5b and 5c below (if applicable). Also, provide detail in Part VI, including (i) the names and EIN numbers of the supported organizations added, substituted, or removed; (ii) the reasons for each such action; (iii) the authority under the organization's organizing document authorizing such action; and (iv) how the action was accomplished (such as by amendment to the organizing document).

Type I or Type II only. Was any added or substituted supported organization part of a class already designated in the organization's organizing document?

Substitutions only. Was the substitution the result of an event beyond the organization's control?

Did the organization provide support (whether in the form of grants or the provision of services or facilities) to anyone other than (i) its supported organizations, (ii) individuals that are part of the charitable class benefited by one or more of its supported organizations, or (iii) other supporting organizations that also support or benefit one or more of the filing organization’s supported organizations? If “Yes,” provide detail in Part VI.

Did the organization provide a grant, loan, compensation, or other similar payment to a substantial contributor (defined in section 4958(c)(3)(C)), a family member of a substantial contributor, or a 35% controlled entity with regard to a substantial contributor? If “Yes,” complete Part I of Schedule L (Form 990) .

Did the organization make a loan to a disqualified person (as defined in section 4958) not described on line 7? If “Yes,” complete Part I of Schedule L (Form 990).

Was the organization controlled directly or indirectly at any time during the tax year by one or more disqualified persons, as defined in section 4946 (other than foundation managers and organizations described in section 509(a)(1) or (2))? If “Yes,” provide detail in Part VI.

Did one or more disqualified persons (as defined on line 9a) hold a controlling interest in any entity in which the supporting organization had an interest? If “Yes,” provide detail in Part VI.

Did a disqualified person (as defined on line 9a) have an ownership interest in, or derive any personal benefit from, assets in which the supporting organization also had an interest? If “Yes,” provide detail in Part VI.

10a

Was the organization subject to the excess business holdings rules of section 4943 because of section 4943(f) (regarding certain Type II supporting organizations, and all Type III non-functionally integrated supporting organizations)? If “Yes,” answer line 10b below.

10a

Did the organization have any excess business holdings in the tax year? (Use Schedule C, Form 4720, to determine whether the organization had excess business holdings).

10b

Schedule A (Form 990) 2023

Page 5

Part IV

Supporting Organizations (continued)

Yes

Has the organization accepted a gift or contribution from any of the following persons?

A person who directly or indirectly controls, either alone or together with persons described on lines 11b and 11c below, the governing body of a supported organization?

11a

A family member of a person described on 11a above?

11b

A 35% controlled entity of a person described on line 11a or 11b above? If “Yes” to 11a, 11b, or 11c, provide detail in Part VI.

11c

Section B. Type I Supporting Organizations

Yes

Did the officers, directors, trustees, or membership of one or more supported organizations have the power to regularly appoint or elect at least a majority of the organization’s directors or trustees at all times during the tax year? If “No,” describe in Part VI how the supported organization(s) effectively operated, supervised, or controlled the organization’s activities. If the organization had more than one supported organization, describe how the powers to appoint and/or remove directors or trustees were allocated among the supported organizations and what conditions or restrictions, if any, applied to such powers during the tax year.

Did the organization operate for the benefit of any supported organization other than the supported organization(s) that operated, supervised, or controlled the supporting organization? If “Yes,” explain in Part VI how providing such benefit carried out the purposes of the supported organization(s) that operated, supervised or controlled the supporting organization.

Section C. Type II Supporting Organizations

Yes

Were a majority of the organization’s directors or trustees during the tax year also a majority of the directors or trustees of each of the organization’s supported organization(s)? If “No,” describe in Part VI how control or management of the supporting organization was vested in the same persons that controlled or managed the supported organization(s).

Section D. All Type III Supporting Organizations

Yes

Did the organization provide to each of its supported organizations, by the last day of the fifth month of the organization’s tax year, (i) a written notice describing the type and amount of support provided during the prior tax year, (ii) a copy of the Form 990 that was most recently filed as of the date of notification, and (iii) copies of the organization’s governing documents in effect on the date of notification, to the extent not previously provided?

Were any of the organization’s officers, directors, or trustees either (i) appointed or elected by the supported organization(s) or (ii) serving on the governing body of a supported organization? If "No," explain in Part VI how the organization maintained a close and continuous working relationship with the supported organization(s).

By reason of the relationship described in line 2 above, did the organization’s supported organizations have a significant voice in the organization’s investment policies and in directing the use of the organization’s income or assets at all times during the tax year? If "Yes," describe in Part VI the role the organization’s supported organizations played in this regard.

Section E. Type III Functionally-Integrated Supporting Organizations

Check the box next to the method that the organization used to satisfy the Integral Part Test during the year (see instructions):

The organization satisfied the Activities Test. Complete line 2 below.

The organization is the parent of each of its supported organizations. Complete line 3 below.

The organization supported a governmental entity. Describe in Part VI how you supported a government entity (see instructions)

Activities Test. Answer lines 2a and 2b below.

Yes

Did substantially all of the organization’s activities during the tax year directly further the exempt purposes of the supported organization(s) to which the organization was responsive? If "Yes," then in Part VI identify those supported organizations and explain how these activities directly furthered their exempt purposes, how the organization was responsive to those supported organizations, and how the organization determined that these activities constituted substantially all of its activities.

Did the activities described on line 2a, above constitute activities that, but for the organization’s involvement, one or more of the organization’s supported organization(s) would have been engaged in? If "Yes," explain in Part VI the reasons for the organization’s position that its supported organization(s) would have engaged in these activities but for the organization’s involvement.

Parent of Supported Organizations. Answer lines 3a and 3b below.

Did the organization have the power to regularly appoint or elect a majority of the officers, directors, or trustees of each of the supported organizations?If "Yes" or "No", provide details in Part VI.

Did the organization exercise a substantial degree of direction over the policies, programs and activities of each of its supported organizations? If "Yes," describe in Part VI. the role played by the organization in this regard.

Schedule A (Form 990) 2023

Page 6

Part V

Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations

Check here if the organization satisfied the Integral Part Test as a qualifying trust on Nov. 20, 1970 (explain in Part VI). See instructions. All other Type III non-functionally integrated supporting organizations must complete Sections A through E.

	Section A - Adjusted Net Income		(A) Prior Year	(B) Current Year (optional)
1	Net short-term capital gain	1
2	Recoveries of prior-year distributions	2
3	Other gross income (see instructions)	3
4	Add lines 1 through 3	4
5	Depreciation and depletion	5
6	Portion of operating expenses paid or incurred for production or collection of gross income or for management, conservation, or maintenance of property held for production of income (see instructions)	6
7	Other expenses (see instructions)	7
8	Adjusted Net Income (subtract lines 5, 6 and 7 from line 4)	8

	Section B - Minimum Asset Amount		(A) Prior Year	(B) Current Year (optional)
1	Aggregate fair market value of all non-exempt-use assets (see instructions for short tax year or assets held for part of year):	1
a	Average monthly value of securities	1a
b	Average monthly cash balances	1b
c	Fair market value of other non-exempt-use assets	1c
d	Total (add lines 1a, 1b, and 1c)	1d
e	Discount claimed for blockage or other factors (explain in detail in Part VI):
2	Acquisition indebtedness applicable to non-exempt use assets	2
3	Subtract line 2 from line 1d	3
4	Cash deemed held for exempt use. Enter 0.015 of line 3 (for greater amount, see instructions).	4
5	Net value of non-exempt-use assets (subtract line 4 from line 3)	5
6	Multiply line 5 by 0.035	6
7	Recoveries of prior-year distributions	7
8	Minimum Asset Amount (add line 7 to line 6)	8

	Section C - Distributable Amount		Current Year
1	Adjusted net income for prior year (from Section A, line 8, Column A)	1
2	Enter 85% of line 1	2
3	Minimum asset amount for prior year (from Section B, line 8, Column A)	3
4	Enter greater of line 2 or line 3	4
5	Income tax imposed in prior year	5
6	Distributable Amount. Subtract line 5 from line 4, unless subject to emergency temporary reduction (see instructions)	6

Check here if the current year is the organization's first as a non-functionally-integrated Type III supporting organization (see instructions)

Schedule A (Form 990) 2023

Page 7

Part V

Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations(continued)

Section D - Distributions		Current Year
1 Amounts paid to supported organizations to accomplish exempt purposes	1
2 Amounts paid to perform activity that directly furthers exempt purposes of supported organizations, in excess of income from activity	2
3 Administrative expenses paid to accomplish exempt purposes of supported organizations	3
4 Amounts paid to acquire exempt-use assets	4
5 Qualified set-aside amounts (prior IRS approval required - provide details in Part VI)	5
6 Other distributions (describe in Part VI). See instructions	6
7Total annual distributions. Add lines 1 through 6.	7
8 Distributions to attentive supported organizations to which the organization is responsive (provide details in Part VI). See instructions	8
9 Distributable amount for 2023 from Section C, line 6	9
10 Line 8 amount divided by Line 9 amount	10

Section E - Distribution Allocations (see instructions)		(i) Excess Distributions	(ii) Underdistributions Pre-2023	(iii) Distributable Amount for 2023
1 Distributable amount for 2023 from Section C, line 6
2 Underdistributions, if any, for years prior to 2023 (reasonable cause required-- explain in Part VI). See instructions.
3 Excess distributions carryover, if any, to 2023:
a From 2018.......
b From 2019.......
c From 2020.......
d From 2021.......
e From 2022.......
fTotal of lines 3a through e
g Applied to underdistributions of prior years
h Applied to 2023 distributable amount
i Carryover from 2018 not applied (see instructions)
j Remainder. Subtract lines 3g, 3h, and 3i from line 3f.
4Distributions for 2023 from Section D, line 7:
$
a Applied to underdistributions of prior years
b Applied to 2023 distributable amount
c Remainder. Subtract lines 4a and 4b from line 4.
5 Remaining underdistributions for years prior to 2023, if any. Subtract lines 3g and 4a from line 2. If the amount is greater than zero, explain in Part VI. See instructions.
6 Remaining underdistributions for 2023. Subtract lines 3h and 4b from line 1. If the amount is greater than zero, explain in Part VI. See instructions.
7 Excess distributions carryover to 2024. Add lines 3j and 4c.
8 Breakdown of line 7:
a Excess from 2019.....
b Excess from 2020.....
c Excess from 2021.....
d Excess from 2022.....
e Excess from 2023.....

Schedule A (Form 990) (2023)

Schedule A (Form 990) 2023

Page 8

Part VI

Supplemental Information. Provide the explanations required by Part II, line 10; Part II, line 17a or 17b; Part III, line 12; Part IV, Section A, lines 1, 2, 3b, 3c, 4b, 4c, 5a, 6, 9a, 9b, 9c, 11a, 11b, and 11c; Part IV, Section B, lines 1 and 2; Part IV, Section C, line 1; Part IV, Section D, lines 2 and 3; Part IV, Section E, lines 1c, 2a, 2b, 3a and 3b; Part V, line 1; Part V, Section B, line 1e; Part V Section D, lines 5, 6, and 8; and Part V, Section E, lines 2, 5, and 6. Also complete this part for any additional information. (See instructions).

Facts And Circumstances Test

Return Reference	Explanation
SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME:	OTHER INCOME - 2019 AMOUNT: $ 4,197. 2020 AMOUNT: $ 7,380. 2021 AMOUNT: $ 1,846. 2022 AMOUNT: $ 28,682. 2023 AMOUNT: $ 25,159. MANAGEMENT FEE - 2022 AMOUNT: $ 1,152,541. 2023 AMOUNT: $ 580,462. UBIT REFUND - 2022 AMOUNT: $ 38,575.

Schedule A (Form 990) 2023

Additional Data

Software ID:
Software Version:

- TIN:

Schedule B
(Form 990)

Department of the Treasury
Internal Revenue Service

Schedule of Contributors

Attach to Form 990, 990-EZ, or 990-PF.

Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2023

Name of the organization

WAVERLY HEIGHTS

Employer identification number

23-2212842

Organization type (check one):

Filers of:

Section:

Form 990 or 990-EZ

501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization

Form 990-PF

501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation

Check if your organization is covered by the General Rule or a Special Rule.
Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.

General Rule

For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or other property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.

Special Rules

For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 33¹/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Don't complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Arrow Bullet

Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).

For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.

Cat. No. 30613XSchedule B (Form 990) (2023)

Schedule B (Form 990) (2023) Page 2

Name of organization WAVERLY HEIGHTS

Part I Contributors	Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
RESTRICTED	,	$ RESTRICTED	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
Schedule B (Form 990) (2023)

Schedule B (Form 990) (2023)

Page 3

Name of organization WAVERLY HEIGHTS		Employer identification number 23-2212842

Part II	Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
Schedule B (Form 990) (2023)

Schedule B (Form 990) (2023)

Page 4


Name of organization WAVERLY HEIGHTS			Employer identification number 23-2212842
Part III Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $ Use duplicate copies of Part III if additional space is needed.

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

Schedule B (Form 990) (2023)

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE D
(Form 990)

Department of the Treasury
Internal Revenue Service

Supplemental Financial Statements

Complete if the organization answered "Yes," on Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b.
right arrow

Attach to Form 990.
right arrow

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

2022

Open to Public Inspection

Name of the organization

WAVERLY HEIGHTS

Employer identification number

23-2212842

Part I

Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" on Form 990, Part IV, line 6.

		(a) Donor advised funds	(b) Funds and other accounts
1	Total number at end of year .........
2	Aggregate value of contributions to (during year)
3	Aggregate value of grants from (during year)
4	Aggregate value at end of year ........

Did the organization inform all donors and donor advisors in writing that the assets held in donor advised funds are the organization’s property, subject to the organization’s exclusive legal control? ............

Yes No

Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit? ...................................

Yes No

Part II

Conservation Easements.
Complete if the organization answered "Yes" on Form 990, Part IV, line 7.

Purpose(s) of conservation easements held by the organization (check all that apply).

Preservation of land for public use (e.g., recreation or education) Preservation of an historically important land area

Protection of natural habitat Preservation of a certified historic structure

Preservation of open space

Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.


a	Total number of conservation easements ......................	2a
b	Total acreage restricted by conservation easements ....................	2b
c	Number of conservation easements on a certified historic structure included in (a) .....	2c
d	Number of conservation easements included in (c) acquired after July 25, 2006, and not on a historic structure listed in the National Register ...	2d

Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during the
tax year right arrow

Number of states where property subject to conservation easement is located right arrow

Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and enforcement of the conservation easements it holds? ............

Yes No

Staff and volunteer hours devoted to monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
right arrow

Amount of expenses incurred in monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
right arrow

Does each conservation easement reported on line 2(d) above satisfy the requirements of section 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)? .............................

Yes No

In Part XIII, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.

Part III

Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" on Form 990, Part IV, line 8.

If the organization elected, as permitted under FASB ASC 958, not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide, in Part XIII, the text of the footnote to its financial statements that describes these items.

If the organization elected, as permitted under FASB ASC 958, to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items:

(i)

Revenue included on Form 990, Part VIII, line 1 ......................... right arrow

(ii)

Assets included in Form 990, Part X ............................... right arrow

If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under FASB ASC 958 relating to these items:

Revenue included on Form 990, Part VIII, line 1 .......................... right arrow

Assets included in Form 990, Part X ............................... right arrow

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 52283D

Schedule D (Form 990) 2022

Page 2

Part III

Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)

Using the organization’s acquisition, accession, and other records, check any of the following that are a significant use of its collection items (check all that apply):

Public exhibition

Loan or exchange programs

Scholarly research

Other

Preservation for future generations

Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIII.

During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?...

Yes No

Part IV

Escrow and Custodial Arrangements. Complete if the organization answered "Yes" on Form 990, Part IV, line 9, or reported an amount on Form 990, Part X, line 21.

Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................

Yes No


b	If "Yes," explain the arrangement in Part XIII and complete the following table:		Amount
c	Beginning balance .............................	1c
d	Additions during the year ............................	1d
e	Distributions during the year ..........................	1e
f	Ending balance ................................	1f

Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability? ...

Yes No

If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been provided in Part XIII ....

Part V

Endowment Funds.
Complete if the organization answered "Yes" on Form 990, Part IV, line 10.

		(a) Current year	(b) Prior year	(c) Two years back	(d) Three years back	(e) Four years back

1a	Beginning of year balance ....	2,043,188	2,056,642	1,863,529	1,371,632	954,669
b	Contributions ...	408,231	300,806	767,024	803,456	680,812
c	Net investment earnings, gains, and losses
d	Grants or scholarships ...
e	Other expenditures for facilities and programs ...	464,634	314,260	573,911	311,559	263,849
f	Administrative expenses ....
g	End of year balance ......	1,986,785	2,043,188	2,056,642	1,863,529	1,371,632

Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:

Board designated or quasi-endowment right arrow

0 %

Permanent endowment right arrow

3.528 %

Term endowment right arrow

96.472 %

The percentages on lines 2a, 2b, and 2c should equal 100%.

Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes

(i) Unrelated organizations .................

3a(i)

(ii) Related organizations .................

3a(ii)

If "Yes" on 3a(ii), are the related organizations listed as required on Schedule R? .........

Describe in Part XIII the intended uses of the organization's endowment funds.

Part VI

Land, Buildings, and Equipment.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11a. See Form 990, Part X, line 10.

Description of property		(a) Cost or other basis (investment)	(b) Cost or other basis (other)	(c) Accumulated depreciation	(d) Book value

1a	Land .....	11,505,208		11,505,208
b	Buildings ....	61,151,155	23,289,773	37,861,382
c	Leasehold improvements	56,152,972	25,580,894	30,572,078
d	Equipment ....	29,908,843	18,256,180	11,652,663
e	Other .....	1,311,157	372,676	938,481
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).)..				92,529,812

Schedule D (Form 990) 2022

Page 3

Part VII

Investments - Other Securities.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11b. See Form 990, Part X, line 12.

(a) Description of security or category (including name of security)	(b) Book value	(c) Method of valuation: Cost or end-of-year market value
(1) Financial derivatives.........
(2) Closely-held equity interests........
(3)Other
(A)
(B)
(C)
(D)
(E)
(F)
(G)
(H)
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)

Part VIII

Investments - Program Related. Complete if the organization answered 'Yes' on Form 990, Part IV, line 11c. See Form 990, Part X, line 13.

(a) Description of investment	(b) Book value	(c) Method of valuation: Cost or end-of-year market value

(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)

Part IX

Other Assets.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11d. See Form 990, Part X, line 15.

(a) Description				(b) Book value

(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........

Part X

Other Liabilities.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25.

1.(a) Description of liability	(b) Book value
(1) Federal income taxes
RESIDENT DEPOSITS	1,463,663
DUE TO RELATED PARTY	40,592







Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)	1,504,255
2. Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII

Schedule D (Form 990) 2022

Page 4

Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1	Total revenue, gains, and other support per audited financial statements .......		1
2	Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a	Net unrealized gains (losses) on investments ....	2a
b	Donated services and use of facilities .........	2b
c	Recoveries of prior year grants ...........	2c
d	Other (Describe in Part XIII.) ...........	2d
e	Add lines 2a through 2d .....................		2e
3	Subtract line 2e from line 1..................		3
4	Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b .	4a
b	Other (Describe in Part XIII.) ...........	4b
c	Add lines 4a and 4b....................		4c
5	Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ......		5

Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1	Total expenses and losses per audited financial statements ...........		1
2	Amounts included on line 1 but not on Form 990, Part IX, line 25:
a	Donated services and use of facilities .........	2a
b	Prior year adjustments ............	2b
c	Other losses ................	2c
d	Other (Describe in Part XIII.) ...........	2d
e	Add lines 2a through 2d....................		2e
3	Subtract line 2e from line 1...................		3
4	Amounts included on Form 990, Part IX, line 25, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b ..	4a
b	Other (Describe in Part XIII.) ...........	4b
c	Add lines 4a and 4b.....................		4c
5	Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ......		5

Part XIII

Supplemental Information

Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b; Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.

Return Reference

Explanation

PART V, LINE 4:

THE ENDOWMENT FUNDS ARE INTENDED TO BE USED FOR: RESIDENTS' ASSISTANCE, EMPLOYEES' ASSISTANCE (INCLUDING TUITION REIMBURSEMENT AND SCHOLARSHIPS), AND CAPITAL IMPROVEMENTS.

PART X, LINE 2:

WAVERLY HEIGHTS IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM STATE INCOME TAXES UNDER THE COMMONWEALTH OF PENNSYLVANIA STATUTES. WAVERLY HEIGHTS FOLLOWS THE PROVISIONS OF THE INCOME TAX ACCOUNTING STANDARDS REGARDING THE RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. IT IS WAVERLY HEIGHTS' POLICY TO ACCOUNT FOR ANY INTEREST OR PENALTIES ASSESSED RELATING TO UNCERTAIN TAX POSITIONS, IF ANY, AS GENERAL AND ADMINISTRATIVE EXPENSES. WAVERLY HEIGHTS DID NOT INCUR ANY INTEREST OR PENALTIES FOR THE YEARS ENDED DECEMBER 31, 2023 OR 2022. THE APPLICATION OF THESE PROVISIONS HAS NO IMPACT ON THE WAVERLY HEIGHTS CONSOLIDATED FINANCIAL STATEMENTS.

Schedule D (Form 990) 2022

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE F(Form 990)

Department of the Treasury
Internal Revenue Service

Statement of Activities Outside the United States

Complete if the organization answered "Yes" to Form 990, Part IV, line 14b, 15, or 16. Right arrow

Attach to Form 990. Right arrow

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

2023

Open to Public Inspection

Name of the organization
WAVERLY HEIGHTS

Employer identification number

23-2212842

Part I

General Information on Activities Outside the United States. Complete if the organization answered "Yes" on Form 990, Part IV, line 14b.

For grantmakers. Does the organization maintain records to substantiate the amount of its grants and

other assistance, the grantees’ eligibility for the grants or assistance, and the selection criteria used

to award the grants or assistance? . . . . . . . . . . . . . . . . . . . . . . . . .

Yes

For grantmakers. Describe in Part V the organization’s procedures for monitoring the use of its grants and other assistance outside the United States.

Activites per Region. (The following Part I, line 3 table can be duplicated if additional space is needed.)

(a) Region		(b) Number of offices in the region	(c) Number of employees, agents, and independent contractors in the region	(d) Activities conducted in region (by type) (such as, fundraising, program services, investments, grants to recipients located in the region)	(f) Total expenditures for and investments in the region
	CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS,	0	0	INVESTMENTS	297,630
















3a	Sub-total ....	0	0		297,630
b	Total from continuation sheets to Part I ...	0	0		0
c	Totals (add lines 3a and 3b)	0	0		297,630

For Paperwork Reduction Act Notice, see the Instructions for Form 990.Cat. No. 50082W Schedule F (Form 990) 2023

Schedule F (Form 990) 2023

Page 2

Part II

Grants and Other Assistance to Organizations or Entities Outside the United States. Complete if the organization answered "Yes" on Form 990, Part IV, line 15, for any recipient who received more than $5,000. Part II can be duplicated if additional space is needed.

1 (a) Name of organization		(b) IRS code section and EIN (if applicable)	(c) Region	(d) Purpose of grant	(e) Amount of cash grant	(f) Manner of cash disbursement	(g) Amount of noncash assistance	(h) Description of noncash assistance	(i) Method of valuation (book, FMV, appraisal, other)

2	Enter total number of recipient organizations listed above that are recognized as charities by the foreign country, recognized as tax-exempt by the IRS, or for which the grantee or counsel has provided a section 501(c)(3) equivalency letter .......
3	Enter total number of other organizations or entities .......................

Schedule F (Form 990) 2023

Schedule F (Form 990) 2023Page 3

Part III

Grants and Other Assistance to Individuals Outside the United States. Complete if the organization answered "Yes" on Form 990, Part IV, line 16.

Part III can be duplicated if additional space is needed.

(a) Type of grant or assistance		(b) Region	(c) Number of recipients	(d) Amount of cash grant	(e) Manner of cash disbursement	(f) Amount of noncash assistance	(g) Description of noncash assistance	(h) Method of valuation (book, FMV, appraisal, other)

Schedule F (Form 990) 2023

Page 4

Part IV

Foreign Forms

Schedule F (Form 990) 2023

Page 5

Part V

Supplemental Information
Provide the information required by Part I, line 2 (monitoring of funds); Part I, line 3, column (f) (accounting method; amounts of investments vs. expenditures per region); Part II, line 1 (accounting method); Part III (accounting method); and Part III, column (c) (estimated number of recipients), as applicable. Also complete this part to provide any additional information. See instructions.

ReturnReference	Explanation

Schedule F (Form 990) 2023

Additional Data

Software ID:
Software Version:

- TIN:

Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

Schedule I
(Form 990)

Department of the Treasury
Internal Revenue Service

Grants and Other Assistance to Organizations,
Governments and Individuals in the United States

Complete if the organization answered "Yes," on Form 990, Part IV, line 21 or 22.
lBullet

Attach to Form 990.
lBullet

Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2023

Open to Public
Inspection

Name of the organization
WAVERLY HEIGHTS

Employer identification number
23-2212842

Part I

General Information on Grants and Assistance

Does the organization maintain records to substantiate the amount of the grants or assistance, the grantees' eligibility for the grants or assistance, and
the selection criteria used to award the grants or assistance? ........................

Yes No

Describe in Part IV the organization's procedures for monitoring the use of grant funds in the United States.

Part II

Grants and Other Assistance to Domestic Organizations and Domestic Governments. Complete if the organization answered "Yes" on Form 990, Part IV, line 21, for any recipient

that received more than $5,000. Part II can be duplicated if additional space is needed.

(a) Name and address of organization or government	(b) EIN	(c) IRC section (if applicable)	(d) Amount of cash grant	(e) Amount of non-cash assistance	(f) Method of valuation (book, FMV, appraisal, other)	(g) Description of noncash assistance	(h) Purpose of grant or assistance
(1) RISE AGAINST HUNGER INC 3733 NATIONAL DRIVE RALEIGH,NC27612	16-1541024	501(C)(3)	7,700	0			PROVIDE FOOD FOR NEEDY. RESIDENTS AND STAFF WORK TOGETHER TO PROVIDE FOOD.

Enter total number of section 501(c)(3) and government organizations listed in the line 1 table ................. Bullet Image

Enter total number of other organizations listed in the line 1 table ........................ . Bullet Image

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50055P

Schedule I (Form 990) 2023

Page 2

Part III

Grants and Other Assistance to Domestic Individuals. Complete if the organization answered "Yes" on Form 990, Part IV, line 22.
Part III can be duplicated if additional space is needed.

(a) Type of grant or assistance	(b) Number of recipients	(c) Amount of cash grant	(d) Amount of noncash assistance	(e) Method of valuation (book, FMV, appraisal, other)	(f) Description of noncash assistance

(1) MONTHLY MAINTENANCE FEE ASSISTANCE	2	158,196
(1)
(2)
(3)
(4)
(5)
(6)
(7)

Part IV

Supplemental Information. Provide the information required in Part I, line 2; Part III, column (b); and any other additional information.

Return Reference

Explanation

PART I, LINE 2:

WAVERLY HEIGHTS FOLLOWED ITS INTERNAL APPROVAL PROCESSES TO ISSUE A CHECK DIRECTLY TO A REPUTABLE 501(C)(3) EXEMPT ORGANIZATION. AS SUCH, NO SPECIFIC MONOTIRING OF THE USE OF THE GRANT FUNDS WAS DEEMED NECESSARY. WAVERLY HEIGHTS MAINTAINS COMPLETE CONTROL OVER THE APPLICATION OF THE ASSISTANCE TO RESIDENTS' ACCOUNTS AND IS THEREFORE ABLE TO CONFIRM ALL ASSISTANCE IS USED FOR ITS INTENDED PURPOSE. NO FUNDS ARE DIRECTLY RELEASED TO ANY RECIPIENT.

Schedule I (Form 990) 2023

Additional Data

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Schedule J
(Form 990)

Department of the Treasury
Internal Revenue Service

Compensation Information

For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
medium right arrow graphic

Complete if the organization answered "Yes" on Form 990, Part IV, line 23.
medium right arrow graphic

Attach to Form 990.
medium right arrow graphic

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

2023

Open to Public Inspection

Name of the organization

WAVERLY HEIGHTS

Employer identification number

23-2212842

Part I

Questions Regarding Compensation

Yes

Check the appropiate box(es) if the organization provided any of the following to or for a person listed on Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.

First-class or charter travel Housing allowance or residence for personal use

Travel for companions Payments for business use of personal residence

Tax idemnification and gross-up payments Health or social club dues or initiation fees

Discretionary spending account Personal services (e.g., maid, chauffeur, chef)

If any of the boxes on Line 1a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all of the expenses described above? If "No," complete Part III to explain .....

Yes

Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
directors, trustees, officers, including the CEO/Executive Director, regarding the items checked on Line 1a? ....

Yes

Indicate which, if any, of the following the filing organization used to establish the compensation of the
organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods
used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III.

Compensation committee Written employment contract

Independent compensation consultant Compensation survey or study

Form 990 of other organizations Approval by the board or compensation committee

During the year, did any person listed on Form 990, Part VII, Section A, line 1a, with respect to the filing organization or a related organization:

Receive a severance payment or change-of-control payment? .............

Participate in, or receive payment from, a supplemental nonqualified retirement plan? .........

Participate in, or receive payment from, an equity-based compensation arrangement? .........

If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.

Only 501(c)(3), 501(c)(4), and 501(c)(29) organizations must complete lines 5-9.

For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:

The organization? ....................

Any related organization? .......................

If "Yes," on line 5a or 5b, describe in Part III.

For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:

The organization? ..................

Any related organization? ......................

If "Yes," on line 6a or 6b, describe in Part III.

For persons listed on Form 990, Part VII, Section A, line 1a, did the organization provide any nonfixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............

Yes

Were any amounts reported on Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regulations section 53.4958-4(a)(3)? If "Yes," describe
in Part III ..........................

If "Yes" on line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50053T

Schedule J (Form 990) 2023

Page 2

Part II

Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use duplicate copies if additional space is needed.

For each individual whose compensation must be reported on Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions, on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.
Note. The sum of columns (B)(i)-(iii) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and (E) amounts for that individual.

(A) Name and Title		(B) Breakdown of W-2, 1099-MISC compensation, and/or 1099-NEC			(C) Retirement and other deferred compensation	(D) Nontaxable benefits	(E) Total of columns (B)(i)-(D)	(F) Compensation in column (B) reported as deferred on prior Form 990
(A) Name and Title		(i) Base compensation	(ii) Bonus & incentive compensation	(iii) Other reportable compensation	(C) Retirement and other deferred compensation	(D) Nontaxable benefits	(E) Total of columns (B)(i)-(D)
1THOMAS P GARVIN PRESIDENT & CEO	(i) (ii)	229,694 ------------- 196,855	211,748 ------------- 0	11,157 ------------- 11,048	0 ------------- 0	18,055 ------------- 14,411	470,654 ------------- 222,314	0 ------------- 0
2ROBERT L SUPPER SENIOR VP OF FINANCE & CFO	(i) (ii)	140,470 ------------- 119,973	103,442 ------------- 7,500	7,269 ------------- 6,231	0 ------------- 0	14,164 ------------- 11,476	265,345 ------------- 145,180	0 ------------- 0
3JANET THOMPSON VP MARKETING	(i) (ii)	156,736 ------------- 0	54,398 ------------- 0	0 ------------- 0	0 ------------- 0	12,806 ------------- 0	223,940 ------------- 0	0 ------------- 0
4MEREDITH FEHER SENIOR VP OF HEALTH CARE SVCS.	(i) (ii)	112,399 ------------- 96,315	82,740 ------------- 0	7,269 ------------- 6,231	0 ------------- 0	17,596 ------------- 14,018	220,004 ------------- 116,564	0 ------------- 0
5MARC HEIL VP BUILDING SERVICES	(i) (ii)	153,804 ------------- 0	31,568 ------------- 0	0 ------------- 0	0 ------------- 0	28,377 ------------- 0	213,749 ------------- 0	0 ------------- 0
6LAUREN KELLEY VP HUMAN RESOURCES	(i) (ii)	150,143 ------------- 0	27,033 ------------- 0	100 ------------- 0	0 ------------- 0	30,696 ------------- 0	207,972 ------------- 0	0 ------------- 0
7JACQUELINE DONNELLY DIRECTOR OF NURSING	(i) (ii)	155,409 ------------- 0	38,787 ------------- 0	0 ------------- 0	0 ------------- 0	10,719 ------------- 0	204,915 ------------- 0	0 ------------- 0
8CHAD MINIX CONTROLLER	(i) (ii)	133,822 ------------- 0	30,090 ------------- 0	0 ------------- 0	0 ------------- 0	32,863 ------------- 0	196,775 ------------- 0	0 ------------- 0
9PATRICIA RODGERS VP, DIR. OF OPS., WAVERLY CARE	(i) (ii)	100,309 ------------- 85,953	82,290 ------------- 0	0 ------------- 0	0 ------------- 0	13,977 ------------- 11,316	196,576 ------------- 97,269	0 ------------- 0
10JONATHAN P PRAK DIRECTOR OF INFO. TECHNOLOGY	(i) (ii)	124,311 ------------- 0	7,500 ------------- 0	25 ------------- 0	12,029 ------------- 0	30,377 ------------- 0	174,242 ------------- 0	0 ------------- 0
11MARGARET MARY FAHA SALES COUNSELOR	(i) (ii)	81,771 ------------- 0	66,628 ------------- 0	0 ------------- 0	11,794 ------------- 0	10,278 ------------- 0	170,471 ------------- 0	0 ------------- 0
12AUDREY CARTER-HILLMAN REGISTERED NURSE	(i) (ii)	126,847 ------------- 0	20,135 ------------- 0	25 ------------- 0	0 ------------- 0	21,744 ------------- 0	168,751 ------------- 0	0 ------------- 0

Schedule J (Form 990) 2023

Page 3

Part III

Supplemental Information

Provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4a, 4b, 4c, 5a, 5b, 6a, 6b, 7, and 8, and for Part II. Also complete this part for any additional information.

Return Reference

Explanation

PART I, LINE 1A

TRAVEL FOR COMPANIONS TOTALED $348 AND HEALTH OR SOCIAL CLUB DUES TOTALED $3,457. THESE PAYMENTS ARE TREATED AS TAXABLE INCOME TO THE PRESIDENT & CEO.

PART I, LINE 7

THE BONUS/INCENTIVE PAYMENTS MADE BY THE ORGANIZATION ARE CONSIDERED NON-FIXED PAYMENTS BECAUSE THE DETERMINATION OF THE AMOUNT RECEIVED INVOLVES DISCRETION. BONUSES/INCENTIVES ARE CALCULATED AS A PERCENTAGE OF THE EMPLOYEE'S BASE SALARY. THIS PERCENTAGE IS NOT FIXED, BUT IT IS LIMITED TO A NARROW PRE-SET RANGE. THE BOARD HUMAN RESOURCES COMMITTEE TAKES INTO ACCOUNT MANY FACTORS IN DETERMINING IF A BONUS/INCENTIVE WILL BE PAID AND IF SO AT WHAT PERCENTAGE. THESE FACTORS INCLUDE BUT ARE NOT LIMITED TO: USE OF COMPARABILITY DATA FROM AN INDEPENDENT COMPENSATION CONSULTANT, EMPLOYEE PERFORMANCE, FINANCIAL STATUS OF THE ORGANIZATION, ETC. THE BONUS/INCENTIVE IS NOT CONTINGENT ON NET EARNINGS OR REVENUE. BONUS/INCENTIVE PAYMENTS FOR ALL THOSE LISTED ON FORM 990, PART VII, SECTION A, LINE 1 ARE NOTED ON SCHEDULE J, PART II, COLUMN B(II).

Schedule J (Form 990) 2023

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Schedule K
(Form 990)

Department of the Treasury
Internal Revenue Service

Supplemental Information on Tax-Exempt Bonds

Complete if the organization answered "Yes" to Form 990, Part Ⅵ, line 24a. Provide descriptions,
explanations, and any additional information in Part Ⅵ.
Attach to Form 990.
Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

2023

Open to Public
Inspection

Name of the organization
WAVERLY HEIGHTS

Employer identification number
23-2212842

Part Ⅰ

Bond Issues

(a) Issuer name		(b) Issuer EIN	(c) CUSIP #	(d) Date issued	(e) Issue price	(f) Description of purpose	(g) Defeased		(h) On behalf of issuer		(i) Pool financing
(a) Issuer name		(b) Issuer EIN	(c) CUSIP #	(d) Date issued	(e) Issue price	(f) Description of purpose	Yes	No	Yes	No	Yes	No
A	MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY	23-2245125	613609K62	06-06-2019	48,860,710	TO REFINANCE 2006, 2013, 2015 AND 2016 BONDS ISSUED		X		X		X

Part Ⅱ

Proceeds

	A		B		C		D
	1 Amount of bonds retired ..................	3,999,397
2 Amount of bonds legally defeased ..............
3 Total proceeds of issue ..................	48,860,710
4 Gross proceeds in reserve funds .............
5 Capitalized interest from proceeds .............
6 Proceeds in refunding escrows ...............
7 Issuance costs from proceeds ...............	854,155
8 Credit enhancement from proceeds .............
9 Working capital expenditures from proceeds .............
10 Capital expenditures from proceeds .............
11 Other spent proceeds .............	48,006,555
12 Other unspent proceeds .............
13 Year of substantial completion .............	2019
	Yes	No	Yes	No	Yes	No	Yes	No
14 Were the bonds issued as part of a current refunding issue of tax-exempt bonds (or, if issued prior to 2020, a current refunding issue)? ........	X
15 Were the bonds issued as part of an advance refunding issue of taxable bonds (or, if issued prior to 2020, an advance refunding issue)? ........		X
16 Has the final allocation of proceeds been made? ..........	X
17 Does the organization maintain adequate books and records to support the final allocation of proceeds? ..................	X

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50193E

Schedule K (Form 990) 2023

Page 2

Part Ⅲ

Private Business Use

	A		B		C		D
	Yes	No	Yes	No	Yes	No	Yes	No
1 Was the organization a partner in a partnership, or a member of an LLC, which owned property financed by tax-exempt bonds? .............		X
2 Are there any lease arrangements that may result in private business use of bond-financed property? ...............		X
3a Are there any management or service contracts that may result in private business use of bond-financed property? .............		X
b If "Yes" to line 3a, does the organization routinely engage bond counsel or other outside counsel to review any management or service contracts relating to the financed property?
c Are there any research agreements that may result in private business use of bond-financed property? .............		X
d If "Yes" to line 3c, does the organization routinely engage bond counsel or other outside counsel to review any research agreements relating to the financed property?
4 Enter the percentage of financed property used in a private business use by entities other than a section 501(c)(3) organization or a state or local government ....	0 %
5 Enter the percentage of financed property used in a private business use as a result of unrelated trade or business activity carried on by your organization, another section 501(c)(3) organization, or a state or local government .........	0 %
6 Total of lines 4 and 5 .............	0 %
7 Does the bond issue meet the private security or payment test? ...		X
8a Has there been a sale or disposition of any of the bond-financed property to a nongovernmental person other than a 501(c)(3) organization since the bonds were issued?.............		X
b If "Yes" to line 8a, enter the percentage of bond-financed property sold or disposed of. ..
c If "Yes" to line 8a, was any remedial action taken pursuant to Regulations sections 1.141-12 and 1.145-2? .............
9 Has the organization established written procedures to ensure that all nonqualified bonds of the issue are remediated in accordance with the requirements under Regulations sections 1.141-12 and 1.145-2? ........	X

Part Ⅳ

Arbitrage

	A		B		C		D
	Yes	No	Yes	No	Yes	No	Yes	No
1 Has the issuer filed Form 8038-T, Arbitrage Rebate, Yield Reduction and Penalty in Lieu of Arbitrage Rebate? ...		X
2 If "No" to line 1, did the following apply? ....
a Rebate not due yet? .......	X
b Exception to rebate? ........		X
c No rebate due? .........		X
If "Yes" to line 2c, provide in Part Ⅵ the date the rebate computation was performed ......
3 Is the bond issue a variable rate issue? .....		X

Schedule K (Form 990) 2023

Page 3

Part Ⅳ

Arbitrage (Continued)

	A		B		C		D
	Yes	No	Yes	No	Yes	No	Yes	No
4a Has the organization or the governmental issuer entered into a qualified hedge with respect to the bond issue?		X
b Name of provider ..........
c Term of hedge .........
d Was the hedge superintegrated? ......
e Was the hedge terminated? ........
5a Were gross proceeds invested in a guaranteed investment contract (GIC)?		X
b Name of provider ..........
c Term of GIC .........
d Was the regulatory safe harbor for establishing the fair market value of the GIC satisfied? ........
6 Were any gross proceeds invested beyond an available temporary period?		X
7 Has the organization established written procedures to monitor the requirements of section 148? ...	X

Part Ⅴ

Procedures To Undertake Corrective Action

	A		B		C		D
	Yes	No	Yes	No	Yes	No	Yes	No
Has the organization established written procedures to ensure that violations of federal tax requirements are timely identified and corrected through the voluntary closing agreement program if self-remediation is not available under applicable regulations?	X

Part Ⅵ

Supplemental Information. Provide additional information for responses to questions on Schedule K. (See instructions).

Return Reference	Explanation

Schedule K (Form 990) 2023

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SCHEDULE O
(Form 990)

Department of the Treasury
Internal Revenue Service

Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2023

Open to Public
Inspection

Name of the organization

WAVERLY HEIGHTS

Employer identification number

23-2212842

Return Reference	Explanation
FORM 990, PART VI, SECTION A, LINE 1A	THE EXECUTIVE COMMITTEE SHALL CONSIST OF THE CHAIR OF THE BOARD, VICE-CHAIRS, SECRETARY, TREASURER, AND ONE ADDITIONAL TRUSTEE WHO IS NOT AN OFFICER WHO SHALL BE ELECTED BY THE BOARD AT THE ANNUAL MEETING FOR A TERM OF ONE YEAR. AT LEAST ONE MEMBER OF THE EXECUTIVE COMMITTEE SHALL BE A TRUSTEE WHO IS A RESIDENT OF WAVERLY HEIGHTS. THE EXECUTIVE COMMITTEE SHALL HAVE FULL AUTHORITY TO MANAGE AND CONTROL THE BUSINESS AND AFFAIRS OF THE WAVERLY HEIGHTS BETWEEN MEETINGS OF THE BOARD, WITH ALL OF THE POWERS OF THE BOARD ITSELF, EXCEPT THAT IT SHALL NOT HAVE THE POWER OR AUTHORITY AS TO THE FOLLOWING: (A) THE APPROVAL OF ANY ACTION REQUIRING THE APPROVAL OF THE BOARD ON A MATTER TRADITIONALLY RESERVED TO A BOARD OF TRUSTEES OF A NOT-FOR-PROFIT CORPORATION WITHOUT VOTING MEMBERS UNDER THE LAWS OF THE COMMONWEALTH OF PENNSYLVANIA, INCLUDING, WITHOUT LIMITATION, ANY TRANSACTION GOVERNED BY THE ENTITY TRANSACTIONS LAW (15 PA CONS. STAT. ANN. SEC. 311 ET. SEQ.); (B) THE CREATION OF OR FILLING OF VACANCIES IN THE BOARD; (C) THE ADOPTION, AMENDMENT OR REPEAL OF THESE BYLAWS; (D) THE AMENDMENT OR REPEAL OF ANY RESOLUTION OF THE BOARD; AND (E) ACTION ON MATTERS COMMITTED BY A RESOLUTION OF THE BOARD TO ANOTHER COMMITTEE OF THE BOARD. THE EXECUTIVE COMMITTEE WAS ELIMINATED AS OF JULY 1, 2023.
FORM 990, PART VI, SECTION A, LINE 3	WAVERLY SENIOR SERVICES, A RELATED PUBLIC CHARITY, PROVIDES MANAGEMENT SERVICES TO WAVERLY HEIGHTS EFFECTIVE JULY 1, 2023. THE MANAGEMENT FEE PAID DURING THIS PERIOD WAS $828,108.
FORM 990, PART VI, SECTION A, LINE 4	THE ORGANIZATION FILED ARTICLES OF AMENDMENT TO CHANGE ITS NAME FROM WAVERLY HEIGHTS, LTD. TO WAVERLY HEIGHTS, EFFECTIVE JULY 1, 2023. THE BYLAWS WERE AMENDED EFFECTIVE JULY 1, 2023. HERE IS A LIST OF THE SIGNIFICANT CHANGES: 1. THE SOLE MEMBER IS WAVERLY SENIOR SERVICES. (ARTICLE III, SECTION 1) 2. APPROVAL OF THE SOLE MEMBER IS REQUIRED FOR ANY OF THESE ACTIONS (ARTICLE III, SECTION 2): A. THE ADOPTION OF THE CORPORATION'S OPERATING AND CAPITAL BUDGETS, INCLUDING ANY DEVIATIONS THEREFROM OR REVISIONS OR AMENDMENTS THERETO; B. THE INCURRENCE OF ANY MATERIAL INDEBTEDNESS THAT IS NOT INCLUDED IN THE CORPORATION'S OPERATING OR CAPITAL BUDGETS APPROVED BY THE MEMBER, OR ANY OTHER INDEBTEDNESS, WHETHER OR NOT INCLUDED IN SUCH BUDGETS, WHICH WOULD REQUIRE THE GUARANTY OR SURETY OF THE MEMBER; C. THE ELECTION OR REMOVAL OF TRUSTEES OF THE BOARD; D. THE AMENDMENT, ADOPTION, OR REPEAL OF THE ARTICLES OR THE BYLAWS; E. THE APPROVAL OF A PLAN OF MERGER OR CONSOLIDATION, CONVERSION, OR DIVISION, OR ANY OTHER TRANSACTION WITHIN THE SCOPE OF THE PENNSYLVANIA ENTITY TRANSACTIONS LAW, 15 PA. CONS. STAT. ANN. SEC .311 ET SEQ.; THE CREATION OR ACQUISITION OF ANY SUBSIDIARY ORGANIZATION; THE ACQUISITION OF ALL, OR SUBSTANTIALLY ALL, OF THE ASSETS OR BUSINESS OF ANOTHER ENTITY; OR THE PARTICIPATION IN ANY ALLIANCE, JOINT VENTURE, AFFILIATION, OR OTHER RELATIONSHIP WITH ANOTHER ENTITY WHICH WOULD RESULT IN A CHANGE IN CONTROL OF THE CORPORATION OR SUCH ENTITY; F. THE SALE, PLEDGE, LEASE, RELINQUISHMENT, TRANSFER, OR OTHER DISPOSITION OF ALL, OR SUBSTANTIALLY ALL, OF THE CORPORATION'S ASSETS; AND ANY CHANGES TO THE CORPORATION'S ORGANIZATIONAL STRUCTURE OR CORPORATE PURPOSE; G. THE AUTHORIZATION AND DESIGNATION OF THE CORPORATION'S OFFICERS TO EXECUTE A DEED OF ASSIGNMENT FOR THE BENEFIT OF CREDITORS, FILE A VOLUNTARY PETITION IN BANKRUPTCY, FILE AN ANSWER CONSENTING TO THE APPOINTMENT OF A RECEIVER, OR FILE AN ANSWER TO AN INVOLUNTARY PETITION IN BANKRUPTCY; H. THE DETERMINATION TO INDEMNIFY A REPRESENTATIVE (AS THAT TERM IS DEFINED IN ARTICLE XII OF THE BYLAWS); I. THE ELECTION OR REMOVAL OF ANY OF THE CORPORATION'S BOARD OFFICERS THE PRESIDENT/CHIEF EXECUTIVE OFFICER OR THE CHIEF FINANCIAL OFFICER; OR, J. THE AUTHORIZATION, APPROVAL, AMENDMENT, OR TERMINATION OF ANY MANAGEMENT CONTRACT(S). 3. THE MAXIMUM NUMBER OF TRUSTEES WAS DECREASED FROM 21 TO 15. (ARTICLE IV, SECTION 3) 4. TRUSTEES ARE ELECTED BY THE MEMBER. PREVIOUSLY, TRUSTEES WERE ELECTED BY THE BOARD. (ARTICLE IV, SECTION 5). 5. THE MEMBER SHALL HAVE THE POWER TO REMOVE ANY TRUSTEE. PREVIOUSLY, THE BOARD HAD THE POWER TO REMOVE TRUSTEES. (ARTICLE IV, SECTION 10). 6. THE MAXIMUM NUMBER OF RESIDENTS OF THE CORPORATION'S WAVERLY HEIGHTS FACILITY WHO CAN SERVE ON THE BOARD WAS DECREASED FROM 7 TO 5. (ARTICLE IV, SECTION 12) 7. THE ELECTION OF THE CHAIR AND VICE CHAIR IS SUBJECT TO THE APPROVAL OF THE SOLE MEMBER. (ARTICLE V, SECTION 1) 8. THE TREASURER, SECRETARY AND PRESIDENT/CHIEF EXECUTIVE OFFICER POSITIONS ARE NOW DEFINED AS CORPORATE OFFICERS RATHER THAN BOARD OFFICERS. THE CORPORATION'S CHIEF FINANCIAL OFFICER IS DEFINED AS A CORPORATE OFFICER. ALL CORPORATE OFFICERS ARE ELECTED BY THE BOARD; THE ELECTION OF THE PRESIDENT/CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER ARE SUBJECT TO APPROVAL BY THE SOLE MEMBER. AN INDIVIDUAL MAY HOLD MULTIPLE OFFICES, EXCEPT THAT THE PRESIDENT/CHIEF EXECUTIVE OFFICER, THE CHIEF FINANCIAL OFFICER, AND THE SECRETARY SHALL BE SEPARATE PERSONS. (ARTICLE VI, SECTION 1). 9. UNLESS ANOTHER DATE IS SPECIFIED BY THE BOARD AT THE TIME OF ELECTION, EACH BOARD OFFICER SHALL SERVE FOR A TERM OF ONE (1) YEAR BEGINNING ON JANUARY 1 FOLLOWING ELECTION AND UNTIL A SUCCESSOR IS ELECTED OR UNTIL HIS OR HER EARLIER DEATH, DISABILITY, RESIGNATION OR REMOVAL. OFFICERS SHALL BE ELIGIBLE FOR RE-ELECTION. THE TERM OF ANY OFFICER WHO IS AN EMPLOYEE OF THE CORPORATION SHALL NOT EXTEND BEYOND SUCH OFFICER'S EMPLOYMENT BY THE CORPORATION. (ARTICLE VI, SECTION 2) 10. ANY OFFICER MAY BE REMOVED BY THE BOARD. REMOVAL OF THE PRESIDENT/CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER IS SUBJECT TO APPROVAL BY THE SOLE MEMBER. (ARTICLE VI, SECTION 3). 11. PROVISION FOR AN EXECUTIVE COMMITTEE WAS REMOVED. (ARTICLE VII, SECTION 1) 12. THE REQUIREMENT THAT THE AFFIRMATIVE VOTE OF TWO-THIRDS OF THE MEMBERS PRESENT AT A MEETING AT WHICH A QUORUM EXISTS IS REQUIRED TO AUTHORIZE THE CORPORATION TO SELL, MORTGAGE, LEASE OR OTHERWISE DISPOSE OF ITS REAL PROPERTY WAS REMOVED. (ARTICLE IX, SECTION 10) 13. THE REQUIREMENT OF AN AFFIRMATIVE VOTE OF TWO-THIRDS OF ALL BOARD MEMBERS TO AMEND THE BYLAWS WAS REPLACED WITH THE REQUIREMENT THAT THE BYLAWS CAN BE AMENDED ONLY BY THE MEMBER. (ARTICLE XV, SECTION 1)
FORM 990, PART VI, SECTION A, LINE 6	EFFECTIVE JULY 1, 2023, TRUSTEES ARE ELECTED BY THE SOLE MEMBER.
FORM 990, PART VI, SECTION A, LINE 7A	EFFECTIVE JULY 1, 2023, WAVERLY SENIOR SERVICES, A RELATED PUBLIC CHARITY, ELECTS THE BOARD.
FORM 990, PART VI, SECTION A, LINE 7B	EFFECTIVE JULY 1, 2023, THE APPROVAL OF WAVERLY SENIOR SERVICES, A RELATED PUBLIC CHARITY, IS REQUIRED FOR: (A) THE ADOPTION OF THE CORPORATION'S OPERATING AND CAPITAL BUDGETS, INCLUDING ANY DEVIATIONS THEREFROM OR REVISIONS OR AMENDMENTS THERETO; (B) THE INCURRENCE OF ANY MATERIAL INDEBTEDNESS THAT IS NOT INCLUDED IN THE CORPORATION'S OPERATING OR CAPITAL BUDGETS APPROVED BY THE MEMBER, OR ANY OTHER INDEBTEDNESS, WHETHER OR NOT INCLUDED IN SUCH BUDGETS, WHICH WOULD REQUIRE THE GUARANTY OR SURETY OF THE MEMBER; (C) THE ELECTION OR REMOVAL OF TRUSTEES OF THE BOARD; (D) THE AMENDMENT, ADOPTION, OR REPEAL OF THE ARTICLES OR THESE BYLAWS; (E) THE APPROVAL OF A PLAN OF MERGER OR CONSOLIDATION, CONVERSION, OR DIVISION, OR ANY OTHER TRANSACTION WITHIN THE SCOPE OF THE PENNSYLVANIA ENTITY TRANSACTIONS LAW, 15 PA. CONS. STAT. ANN. SEC. 311 ET SEQ.; THE CREATION OR ACQUISITION OF ANY SUBSIDIARY ORGANIZATION; THE ACQUISITION OF ALL, OR SUBSTANTIALLY ALL, OF THE ASSETS OR BUSINESS OF ANOTHER ENTITY; OR THE PARTICIPATION IN ANY ALLIANCE, JOINT VENTURE, AFFILIATION, OR OTHER RELATIONSHIP WITH ANOTHER ENTITY WHICH WOULD RESULT IN A CHANGE IN CONTROL OF THE CORPORATION OR SUCH ENTITY; (F) THE SALE, PLEDGE, LEASE, RELINQUISHMENT, TRANSFER, OR OTHER DISPOSITION OF ALL, OR SUBSTANTIALLY ALL, OF THE CORPORATION'S ASSETS; AND ANY CHANGES TO THE CORPORATION'S ORGANIZATIONAL STRUCTURE OR CORPORATE PURPOSE; (G) THE AUTHORIZATION AND DESIGNATION OF THE CORPORATION'S OFFICERS TO: EXECUTE A DEED OF ASSIGNMENT FOR THE BENEFIT OF CREDITORS; FILE A VOLUNTARY PETITION IN BANKRUPTCY; FILE AN ANSWER CONSENTING TO THE APPOINTMENT OF A RECEIVER; OR FILE AN ANSWER TO AN INVOLUNTARY PETITION IN BANKRUPTCY; (H) THE DETERMINATION TO INDEMNIFY A REPRESENTATIVE (AS THAT TERM IS DEFINED IN ARTICLE XII OF THESE BYLAWS); (I) THE ELECTION OR REMOVAL OF ANY OF THE CORPORATION'S BOARD OFFICERS (AS HEREINAFTER DEFINED), THE PRESIDENT/CHIEF EXECUTIVE OFFICER OR THE CHIEF FINANCIAL OFFICER; OR (J) THE AUTHORIZATION, APPROVAL, AMENDMENT, OR TERMINATION OF ANY MANAGEMENT CONTRACT(S).
FORM 990, PART VI, SECTION B, LINE 11B	THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM AND THEN REVIEWED BY THE CFO AND CONTROLLER. THE AUDIT COMMITTEE OF THE BOARD PERFORMS A FINAL REVIEW WITH THE INDEPENDENT ACCOUNTING FIRM AND A THEN A COPY IS PROVIDED TO ALL MEMBERS OF THE BOARD OF TRUSTEES BEFORE FILING WITH THE INTERNAL REVENUE SERVICE.
FORM 990, PART VI, SECTION B, LINE 12C	WAVERLY HEIGHTS' CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY TO PROVIDE GUIDANCE TO GOVERNING BOARD MEMBERS. ALL NEW MEMBERS SIGN OFF ON THIS POLICY UPON APPOINTMENT TO THE BOARD. ANY POSSIBLE CONFLICT OF INTEREST ON THE PART OF THE GOVERNING BOARD MEMBERS IS REQUIRED TO BE TIMELY DISCLOSED UPON REALIZATION OF THE POTENTIAL CONFLICT TO THE OTHER MEMBERS OF THE BOARD AND MADE A MATTER OF RECORD WHEN THE CONFLICT BECOMES A MATTER OF BOARD ACTION. THE BOARD MAKES THE DECISION AS TO WHETHER A POTENTIAL CONFLICT IS AN ACTUAL CONFLICT. ANY GOVERNING BOARD MEMBERS HAVING A CONFLICT OF INTEREST SHALL NOT VOTE OR USE THEIR PERSONAL INFLUENCE ON THE MATTER, EVEN WHERE PERMITTED BY LAW. THE MINUTES OF THE MEETING SHALL REFLECT THE DISCLOSURE, ABSTENTION AND THE QUORUM.
FORM 990, PART VI, SECTION B, LINE 15	COMPENSATION FOR THE PRESIDENT & CEO, OTHER OFFICERS, AND KEY EMPLOYEES OF WAVERLY HEIGHTS IS DETERMINED BY WAVERLY SENIOR SERVICES EXECUTIVE EVALUATION & COMPENSATION COMMITTEE BASED ON THE RECOMMENDATIONS FROM AN INDEPENDENT CONSULTANT. THE CONSULTANT BASES THEIR INFORMATION ON SURVEY DATA FROM SIMILAR LIFE PLAN COMMUNITIES AND EXTERNAL DATA. ADDITIONALLY, ANY SIGNIFICANT ADJUSTMENTS FOR CHANGE AND ANNUAL ADJUSTMENTS ARE REVIEWED AND RECOMMENDED BY THE WAVERLY SENIOR SERVICES EXECUTIVE EVALUATION & EXECUTIVE COMPENSATION COMMITTEE TO THE BOARD OF TRUSTEES. THIS PROCESS WAS REVIEWED AND APPROVED IN 2023. THE DELIBERATION AND FINAL DECISION WERE DOCUMENTED IN THE BOARD AND COMMITTEE MINUTES WITH SPECIFIC DETAILS DOCUMENTED IN CONFIDENTIAL EMPLOYEE FILES.
FORM 990, PART VI, SECTION C, LINE 19	THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990) 2023

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE R
(Form 990)

Department of the Treasury
Internal Revenue Service

Related Organizations and Unrelated Partnerships

Complete if the organization answered "Yes" on Form 990, Part IV, line 33, 34, 35b, 36, or 37.
Attach to Form 990.
Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

2023

Open to Public Inspection

Name of the organization

WAVERLY HEIGHTS

Employer identification number

23-2212842

Part I

Identification of Disregarded Entities. Complete if the organization answered "Yes" on Form 990, Part IV, line 33.

(a) Name, address, and EIN (if applicable) of disregarded entity	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Total income	(e) End-of-year assets	(f) Direct controlling entity
(1) WAVERLY CARE MANAGEMENT LLC 1400 WAVERLY ROAD GLADWYNE,PA190351254 23-2212842	CARE MANAGEMENT SERVICES	PA	215,776	235,812	WAVERLY HEIGHTS

Part II

Identification of Related Tax-Exempt Organizations. Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related tax-exempt organizations during the tax year.

(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Exempt Code section	(e) Public charity status (if section 501(c)(3))	(f) Direct controlling entity	(g) Section 512(b)(13) controlled entity?
(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Exempt Code section	(e) Public charity status (if section 501(c)(3))	(f) Direct controlling entity	Yes	No
(1)WAVERLY CARE 1400 WAVERLY ROAD GLADWYNE,PA190351254 23-2655145	COMPANION SERVICES	PA	501(C)(3)	LINE 10	SEE SCHEDULE R PART VII	Yes
(2)WAVERLY SENIOR SERVICES 1400 WAVERLY ROAD GLADWYNE,PA190351254 92-2896025	MANAGEMENT COMPANY	PA	501(C)(3)	LINE 12C, III-FI	N/A		No

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50135Y

Schedule R (Form 990) 2023

Page 2

Part III

Identification of Related Organizations Taxable as a Partnership. Complete if the organization answered "Yes" on Form 990, Part IV, line 34, because it had one or more related organizations treated as a partnership during the tax year.

(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity	(f) Share of total income	(g) Share of end-of-year assets	(h) Disproprtionate allocations?		(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	(j) General or managing partner?		(k) Percentage ownership
(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity	(f) Share of total income	(g) Share of end-of-year assets	Yes	No	(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	Yes	No	(k) Percentage ownership

Part IV

Identification of Related Organizations Taxable as a Corporation or Trust. Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a corporation or trust during the tax year.

(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity	(e) Type of entity (C corp, S corp, or trust)	(f) Share of total income	(g) Share of end-of-year assets	(h) Percentage ownership	(i) Section 512(b)(13) controlled entity?
(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity	(e) Type of entity (C corp, S corp, or trust)	(f) Share of total income	(g) Share of end-of-year assets	(h) Percentage ownership	Yes	No

Schedule R (Form 990) 2023

Page 3

Part V

Transactions With Related Organizations. Complete if the organization answered "Yes" on Form 990, Part IV, line 34, 35b, or 36.

Note. Complete line 1 if any entity is listed in Parts II, III, or IV of this schedule.

Yes

1 During the tax year, did the orgranization engage in any of the following transactions with one or more related organizations listed in Parts II-IV?

a Receipt of (i) interest, (ii) annuities, (iii) royalties, or (iv) rent from a controlled entity .....................

b Gift, grant, or capital contribution to related organization(s) ............................

c Gift, grant, or capital contribution from related organization(s) ............................

d Loans or loan guarantees to or for related organization(s) ............................

e Loans or loan guarantees by related organization(s) ............................

f Dividends from related organization(s) ............................

g Sale of assets to related organization(s) ............................

h Purchase of assets from related organization(s) ............................

i Exchange of assets with related organization(s) ............................

j Lease of facilities, equipment, or other assets to related organization(s) .......................

k Lease of facilities, equipment, or other assets from related organization(s) ......................

l Performance of services or membership or fundraising solicitations for related organization(s) .....................

Yes

m Performance of services or membership or fundraising solicitations by related organization(s) .................

Yes

n Sharing of facilities, equipment, mailing lists, or other assets with related organization(s) ...................

o Sharing of paid employees with related organization(s) ............................

p Reimbursement paid to related organization(s) for expenses ............................

q Reimbursement paid by related organization(s) for expenses ............................

r Other transfer of cash or property to related organization(s) ............................

Yes

s Other transfer of cash or property from related organization(s) ............................

If the answer to any of the above is "Yes," see the instructions for information on who must complete this line, including covered relationships and transaction thresholds.

(a) Name of related organization	(b) Transaction type (a-s)	(c) Amount involved	(d) Method of determining amount involved
(1) WAVERLY CARE	L	580,462	FAIR MARKET VALUE
(2) WAVERLY CARE	R	1,200,000	FAIR MARKET VALUE

Schedule R (Form 990) 2023

Page 4

Part VI

Unrelated Organizations Taxable as a Partnership. Complete if the organization answered "Yes" on Form 990, Part IV, line 37.

Provide the following information for each entity taxed as a partnership through which the organization conducted more than five percent of its activities (measured by total assets or gross revenue) that was not a related organization. See instructions regarding exclusion for certain investment partnerships.

(a) Name, address, and EIN of entity	(b) Primary activity	(c) Legal domicile (state or foreign country)	(e) Are all partners section 501(c)(3) organizations?		(f) Share of total income	(g) Share of end-of-year assets	(h) Disproprtionate allocations?		(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	(j) General or managing partner?		(k) Percentage ownership
(a) Name, address, and EIN of entity	(b) Primary activity	(c) Legal domicile (state or foreign country)	Yes	No	(f) Share of total income	(g) Share of end-of-year assets	Yes	No	(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	Yes	No	(k) Percentage ownership

Schedule R (Form 990) 2023

Page 5

Part VII

Supplemental Information

Provide additional information for responses to questions on Schedule R. See instructions.

Return Reference	Explanation
SCHEDULE R, PART II, COLUMN (F):	WAVERLY HEIGHTS WAS THE DIRECT CONTROLLING ENTITY OF WAVERLY CARE FROM JANUARY 1 - JUNE 30, 2023. EFFECTIVE JULY 1, 2023, WAVERLY SENIOR SERVICES BECAME THE DIRECT CONTROLLING ENTITY OF WAVERLY CARE.

Schedule R (Form 990) 2023

Additional Data

Software ID:
Software Version:

1	Briefly describe the organization’s mission or most significant activities: TO PROVIDE AN EXCEPTIONAL LIFESTYLE WITHIN A COMPASSIONATE & RESPECTFUL COMMUNITY.
2	Check this box
3	Number of voting members of the governing body (Part VI, line 1a) ........	3	14
4	Number of independent voting members of the governing body (Part VI, line 1b) .....	4	14
5	Total number of individuals employed in calendar year 2023 (Part V, line 2a) ......	5	394
6	Total number of volunteers (estimate if necessary) .............	6	25
7a	Total unrelated business revenue from Part VIII, column (C), line 12 ........	7a	0
b	Net unrelated business taxable income from Form 990-T, Part I, line 11 .........	7b	0

		Prior Year	Current Year
8	Contributions and grants (Part VIII, line 1h) .........	740,994	416,981
9	Program service revenue (Part VIII, line 2g) .........	31,914,561	34,016,563
10	Investment income (Part VIII, column (A), lines 3, 4, and 7d ) ....	4,263,716	4,803,580
11	Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e)	1,294,313	677,921
12	Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)	38,213,584	39,915,045
13	Grants and similar amounts paid (Part IX, column (A), lines 1–3 )...	81,097	167,396
14	Benefits paid to or for members (Part IX, column (A), line 4).....	0	0
15	Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10)	18,462,470	18,576,159
16a	Professional fundraising fees (Part IX, column (A), line 11e) .....	0	0
b	Total fundraising expenses (Part IX, column (D), line 25) 0
17	Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e)....	19,164,937	20,417,730
18	Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25)	37,708,504	39,161,285
19	Revenue less expenses. Subtract line 18 from line 12.......	505,080	753,760
		Beginning of Current Year	End of Year
20	Total assets (Part X, line 16).............	165,224,708	170,339,090
21	Total liabilities (Part X, line 26).............	187,749,967	186,097,373
22	Net assets or fund balances. Subtract line 21 from line 20.....	-22,525,259	-15,758,283

Sign Here

	Signature of officer	Date

	Type or print name and title


4a	(Code: ) (Expenses $ 31,745,126 including grants of $ 167,396 ) (Revenue $ 33,800,787 )
	A LIFE PLAN COMMUNITY PROVIDING QUALITY SERVICES TO ITS RESIDENTS WHILE SERVING THEIR PHYSICAL, EMOTIONAL, RECREATIONAL, SOCIAL, SPIRITUAL AND HEALTH NEEDS. THESE SERVICES ARE PROVIDED TO RESIDENTS THROUGH THE OPERATION OF 218 INDEPENDENT LIVING UNITS, A 31 PRIVATE ROOMS SKILLED NURSING FACILITY AND A 68 PRIVATE ROOMS PERSONAL CARE FACILITY. OF THE 68 PRIVATE PERSONAL CARE ROOMS, 22 ARE PRIVATE MEMORY SUPPORT ROOMS.

4b	(Code: ) (Expenses $ 91,229 including grants of $ 0 ) (Revenue $ 215,776 )
	WAVERLY CARE MANAGEMENT PROVIDES PROFESSIONAL GERIATRIC CARE MANAGEMENT SERVICES.

4c	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )












4d	Other program services (Describe in Schedule O.)
	(Expenses $ including grants of $ ) (Revenue $ )
4e	Total program service expenses31,836,355

1b	Sub-Total..............
c	Total from continuation sheets to Part VII, Section A..
d	Total (add lines 1b and 1c).........	2,668,574	530,106	390,262

1a	Federated campaigns..		1a
b	Membership dues..		1b
c	Fundraising events..		1c
d	Related organizations		1d
e	Government grants (contributions)		1e

f	All other contributions, gifts, grants, and similar amounts not included above		1f	416,981

g	Noncash contributions included in lines 1a - 1f:$		1g

h Total. Add lines 1a-1f.......		416,981

		Business Code
2a	RESIDENT CARE FEES	623990	19,822,820	19,822,820
b	SKILLED NURSING FACILITY	623990	4,420,103	4,420,103
c	PERSONAL CARE	623990	4,324,632	4,324,632
d	MEMORY SERVICES	623990	1,846,874	1,846,874
e	AMORTIZATION OF DEFERRED REVENUE	623990	1,744,959	1,744,959
f	All other program service revenue.		1,857,175	1,857,175
g	Total. Add lines 2a–2f .....		34,016,563

3 Investment income (including dividends, interest, and othersimilar amounts) ......			3,520,420			3,520,420
4 Income from investment of tax-exempt bond proceeds
5 Royalties...........
			(i) Real	(ii) Personal
6a	Gross rents	6a	72,300
b	Less: rental expenses	6b	0
c	Rental income or (loss)	6c	72,300
d	Net rental income or (loss).......			72,300			72,300
			(i) Securities	(ii) Other
7a	Gross amount from sales of assets other than inventory	7a	5,500,015	33,482
b	Less: cost or other basis and sales expenses	7b	4,248,855	1,482
c	Gain or (loss)	7c	1,251,160	32,000
d	Net gain or (loss).........			1,283,160			1,283,160
8a	Gross income from fundraising events (not including $ of contributions reported on line 1c). See Part IV, line 18 ....
			8a
b	Less: direct expenses ...		8b
c	Net income or (loss) from fundraising events..
9a	Gross income from gaming activities. See Part IV, line 19 ...
			9a
b	Less: direct expenses ...		9b
c	Net income or (loss) from gaming activities..
10a	Gross sales of inventory, less returns and allowances ..
			10a
b	Less: cost of goods sold ..		10b
c	Net income or (loss) from sales of inventory..

Business Code
11a	MANAGEMENT FEE		561000	580,462			580,462
b	OTHER INCOME		900099	25,159			25,159
c
d	All other revenue ....
e	Total. Add lines 11a–11d ......			605,621
12	Total revenue. See instructions.....			39,915,045	34,016,563	0	5,481,501

1	Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 ....	9,200	9,200
2	Grants and other assistance to domestic individuals. See Part IV, line 22 ...........	158,196	158,196
3	Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16. .............
4	Benefits paid to or for members .......
5	Compensation of current officers, directors, trustees, and key employees ...........	2,199,930		2,199,930
6	Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) .........
7	Other salaries and wages........	11,917,795	10,804,534	1,113,261
8	Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) ....	967,947		967,947
9	Other employee benefits .......	2,324,929	2,148,724	176,205
10	Payroll taxes ...........	1,165,558	906,035	259,523
11	Fees for services (non-employees):
a	Management ......	828,108		828,108
b	Legal .........	34,237	150	34,087
c	Accounting ...........	69,147		69,147
d	Lobbying ...........
e	Professional fundraising services. See Part IV, line 17
f	Investment management fees ......	73,184		73,184
g	Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O)	2,033,235	1,681,711	351,524
12	Advertising and promotion ....	108,766	33,138	75,628
13	Office expenses .......	445,307	141,153	304,154
14	Information technology ......	43,764		43,764
15	Royalties ..
16	Occupancy ...........	3,446,406	3,412,090	34,316
17	Travel ............	80,477	45,220	35,257
18	Payments of travel or entertainment expenses for any federal, state, or local public officials .
19	Conferences, conventions, and meetings ....	39,613	9,520	30,093
20	Interest ...........	1,751,646	1,721,042	30,604
21	Payments to affiliates .......
22	Depreciation, depletion, and amortization ..	6,490,241	6,425,564	64,677
23	Insurance ...	476,922	238,461	238,461
24	Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)
a	DINING SERVICES	2,045,480	2,045,480
b	SUPPLIES	1,570,635	1,176,866	393,769
c	MAINTENANCE & REPAIRS	880,562	879,271	1,291
d
e	All other expenses
25	Total functional expenses. Add lines 1 through 24e	39,161,285	31,836,355	7,324,930	0
26	Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here if following SOP 98-2 (ASC 958-720).

1	Cash–non-interest-bearing ........			3,422,369	1	875,301
2	Savings and temporary cash investments .........			3,682,021	2	4,556,466
3	Pledges and grants receivable, net ......			929,527	3	922,702
4	Accounts receivable, net .............			5,985,091	4	3,052,034
5	Loans and other receivables from any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .......
					5
6	Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), and persons described in section 4958(c)(3)(B) ...
					6
7	Notes and loans receivable, net ...........				7
8	Inventories for sale or use ............			90,197	8	86,196
9	Prepaid expenses and deferred charges ......			1,018,215	9	893,219
10a	Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D	10a	160,029,335
b	Less: accumulated depreciation	10b	67,499,523	92,546,162	10c	92,529,812
11	Investments—publicly traded securities .			55,615,328	11	64,847,751
12	Investments—other securities. See Part IV, line 11 .....			1,722,048	12	1,287,801
13	Investments—program-related. See Part IV, line 11 ..				13
14	Intangible assets ...............			213,750	14	191,250
15	Other assets. See Part IV, line 11 ...........				15	1,096,558
16	Total assets. Add lines 1 through 15 (must equal line 33)...			165,224,708	16	170,339,090

17	Accounts payable and accrued expenses .....	5,283,508	17	5,299,959
18	Grants payable ...		18
19	Deferred revenue .........	135,668,467	19	134,647,021
20	Tax-exempt bond liabilities .........	45,134,862	20	44,133,180
21	Escrow or custodial account liability. Complete Part IV of Schedule D		21
22	Loans and other payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .........
			22
23	Secured mortgages and notes payable to unrelated third parties ..		23
24	Unsecured notes and loans payable to unrelated third parties ..	368,336	24	512,958
25	Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17 - 24). Complete Part X of Schedule D	1,294,794	25	1,504,255
26	Total liabilities. Add lines 17 through 25..	187,749,967	26	186,097,373

	Organizations that follow FASB ASC 958, check here and complete lines 27, 28, 32, and 33.
27	Net assets without donor restrictions ..........	-24,568,447	27	-17,745,068
28	Net assets with donor restrictions ...........	2,043,188	28	1,986,785
	Organizations that do not follow FASB ASC 958, check here and complete lines 29 through 33.
29	Capital stock or trust principal, or current funds .....		29
30	Paid-in or capital surplus, or land, building or equipment fund ...		30
31	Retained earnings, endowment, accumulated income, or other funds		31
32	Total net assets or fund balances ...........	-22,525,259	32	-15,758,283
33	Total liabilities and net assets/fund balances ........	165,224,708	33	170,339,090

1	Was the organization a U.S. transferor of property to a foreign corporation during the tax year? If "Yes," the organization may be required to file Form 926, Return by a U.S. Transferor of Property to a Foreign Corporation (see Instructions for Form 926). . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	Yes	No
2	Did the organization have an interest in a foreign trust during the tax year? If "Yes," the organization may be required to separately file Form 3520, Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign Gifts, and/or Form 3520-A, Annual Information Return of Foreign Trust With a U.S. Owner (see Instructions for Forms 3520 and 3520-A; don't file with Form 990). . . . . . . . . . . . . . . . . . . . . . . .	Yes	No
3	Did the organization have an ownership interest in a foreign corporation during the tax year? If "Yes," the organization may be required to file Form 5471, Information Return of U.S. Persons with Respect to Certain Foreign Corporations. (see Instructions for Form 5471). . . . . . . . . . . . . . . . . . . . . . . . . . . .	Yes	No
4	Was the organization a direct or indirect shareholder of a passive foreign investment company or a qualified electing fund during the tax year? If “Yes,” the organization may be required to file Form 8621, Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund. (see Instructions for Form 8621) .	Yes	No
5	Did the organization have an ownership interest in a foreign partnership during the tax year? If "Yes," the organization may be required to file Form 8865, Return of U.S. Persons with Respect to Certain Foreign Partnerships (see Instructions for Form 8865). . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	Yes	No
6	Did the organization have any operations in or related to any boycotting countries during the tax year? If "Yes," the organization may be required to separately file Form 5713, International Boycott Report (see Instructions for Form 5713; don't file with Form 990).. . . . . . . . . . . . . . . . . . . . . . . . . . . .	Yes	No