June 1, 2021 Name of Facility: GIVENS ESTATES Location
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DISCLOSURE STATEMENT Dated: June 1, 2021 Name of Facility: GIVENS ESTATES Location: 2360 Sweeten Creek Road Asheville, North Carolina 28803 Telephone No.: (828) 274-4800 In accordance with Chapter 58, Article 64 of the North Carolina General Statutes of the State of North Carolina: • This Disclosure Statement may be delivered until revised, but not after October 28, 2022; • Delivery of this Disclosure Statement to a contracting party before execution of a contract for continuing care is required; • This Disclosure Statement has not been reviewed or approved by any government agency or representative to ensure accuracy or completeness of the information set out. GEDS pg. 1 06-01-21 TABLE OF CONTENTS I. ORGANIZATION INTRODUCTION AND INFORMATION ...................................... 4 ORGANIZATION AND AFFILIATION ............................................................................................... 4 NON-PROFIT STATUS .................................................................................................................... 4 ACCREDITATION AND PROFESSIONAL ASSOCIATIONS .................................................................. 5 LICENSURE ................................................................................................................................... 5 FITCH RATING.............................................................................................................................. 5 VISION STATEMENT ...................................................................................................................... 6 MISSION STATEMENT ................................................................................................................... 6 WELLNESS PHILOSOPHY ............................................................................................................... 7 II. FACILITY INTRODUCTION AND INFORMATION ................................................... 8 CAMPUS LOCATION AND CAPACITY ............................................................................................. 8 OCCUPANCY ................................................................................................................................ 8 COMMUNITY AMENITIES .............................................................................................................. 8 SENIOR MANAGEMENT TEAM ....................................................................................................... 8 SENIOR MANAGEMENT TEAM OF THE GIVENS ESTATES, INC. ....................................................... 9 BOARD OF DIRECTORS ............................................................................................................... 10 EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS ............................................................ 10 BOARD OF DIRECTORS AND CONTACT INFORMATION .............................................................. 12 RESIDENT COUNCIL ................................................................................................................... 16 GIVENS ESTATES DEVELOPMENT/STRATEGIC PLAN ................................................................... 16 III. POLICIES .................................................................................................................... 16 ADMISSIONS ............................................................................................................................... 17 TERMINATION AND REFUND PROVISIONS .................................................................................. 17 TRANSFERS OR CHANGES IN LEVELS OF CARE ........................................................................... 21 TERMS OF RESIDENCY ................................................................................................................ 21 ADDITION OF NEW OCCUPANT ................................................................................................. 23 IV. SERVICES ................................................................................................................... 24 FURNISHINGS IN RESIDENCES..................................................................................................... 24 OPTIONS AND CUSTOM FEATURES IN YOUR RESIDENCE ........................................................... 24 COMMON AREAS AND AMENITIES .............................................................................................. 24 PARKING .................................................................................................................................... 24 SERVICES AND PROGRAMS ......................................................................................................... 25 GEDS pg. 2 06-01-21 NOTICE OF CHANGE IN SCOPE OF SERVICES ............................................................................. 26 HEALTH CARE ACCOMMODATIONS AND SERVICES .................................................................... 26 V. FEES – ALL FEES SHOWN ARE EFFECTIVE AS OF JANUARY 1, 2020 ..................... 27 ENTRANCE FEE ........................................................................................................................... 27 MONTHLY FEE ............................................................................................................................ 31 ADJUSTMENTS IN THE MONTHLY FEE ......................................................................................... 30 AWAY ALLOWANCE .................................................................................................................... 33 MONTHLY STATEMENTS ............................................................................................................. 33 HEALTH CARE CHARGES ............................................................................................................ 33 WOOD ASSISTED LIVING ............................................................................................................ 34 GIVENS ESTATES HEALTH CENTER ............................................................................................. 35 INDEPENDENT CARE NON-CHARGED SERVICES .......................................................................... 36 HOME CARE SERVICES ............................................................................................................... 36 WAITLIST DEPOSIT ..................................................................................................................... 37 FINANCIAL ASSISTANCE .............................................................................................................. 37 VI. OTHER MATERIAL INFORMATION ....................................................................... 37 VII. SCHEDULE OF ATTACHMENTS ............................................................................. 38 ATTACHMENT 1 - STATEMENT OF RELATIONSHIP ATTACHMENT 2 - CONFLICT OF INTEREST POLICY & ETHICAL CODE OF CONDUCT ATTACHMENT 3 - RESIDENCE AND SERVICES AGREEMENTS – INDEPENDENT LIVING & FRIENDSHIP PARK ATTACHMENT 4 - GIVENS ESTATES HEALTH CENTER & WOOD ASSISTED LIVING CONTRACT FOR ADMISSION AND CARE ATTACHMENT 5 - MISCELLANEOUS SERVICE FEES FOR 2021 ATTACHMENT 6 - AUDITED BALANCE SHEETS AND INCOME STATEMENTS AT 12/31/19 AND 12/31/20 AND UNAUDITED BALANCE SHEET AND INCOME STATEMENT AT 4/30/21 ATTACHMENT 7 - 5-YEAR FORECAST OF REVENUES, SUPPORT EXPENSES, CASH FLOW AND ASSUMPTIONS AND FINANCIAL PROJECTION FOR THE YEARS ENDING DECEMBER 31, 2025 ATTACHMENT 8 - COMPARISON OF THE 2020 AUDITED FINANCIAL STATEMENTS TO THE 2020 FORECASTED STATEMENTS FOR ANY VARIANCES GREATER THAN 5% AND $500,000 GEDS pg. 3 06-01-21 THIS DISCLOSURE STATEMENT IS FURNISHED TO COMPLY WITH THE REQUIREMENTS OF ARTICLE 64, CHAPTER 58, OF THE GENERAL STATUTES OF NORTH CAROLINA AND SUPERSEDES DISCLOSURE STATEMENT DATED June 1, 2020. I. ORGANIZATION INTRODUCTION AND INFORMATION ORGANIZATION AND AFFILIATION Givens Estates is a North Carolina non-profit corporation chartered in 1975. The Givens Estates, Inc. and Subsidiaries is the provider for Givens Estates, Givens Highland Farms, LLC and Gerber Park 60. Givens Estates and Givens Highland Farms are licensed in North Carolina by the Department of Insurance as continuing care retirement communities and refer to themselves as life plan communities. Givens Gerber Park 60 is 82 rental apartments and not a continuing care retirement community. The address for The Givens Estates, Inc. and Givens Estates (the facility) is 2360 Sweeten Creek Road, Asheville, North Carolina, 28803. The Givens Estates, Inc. is affiliated with the Western North Carolina Conference of the United Methodist Church (“the Conference”). The Conference elects all members of The Givens Estates, Inc. Board of Directors. The Conference is not responsible for any financial or contractual obligations of The Givens Estates, Inc. The affiliation between The Givens Estates, Inc. and the Conference is set forth in the Statement of Relationship (Attachment 1). The Company is affiliated with The Great Laurels, Inc., the General Partner of The Senior Residences at LakeJunaluska, LP, which consists of 64 Tax Credit and 36 HUD apartments. The Company is a member of Gerber Park of Asheville, LLC, the managing member of Gerber Park of Asheville, LLC, which consists of 42 Tax Credit and 78 HUD apartments. The Company is a managing member of Gerber Park of Asheville III LLC, the managing member of Givens Gerber Park III LLC, which consists of 60 Tax Credit apartments. Givens Affordable Communities, Inc., an affiliate