Bible Students Retirement Centers Inc

“Conservative Easement: Easement is by City of Gresham, 1333 NW Eastman Parkway, Gresham OR 97030 for the purpose of building a Public Bike Path. When the Bike Path is completed, the City of Gresham will take care of all expenses to maintain it. Easement consists of .0542 of an acre. Proceeds of the easement reported as Miscellaneous Corporate Revenue in the year received. It is not shown as a line item on our Balance sheet because it has become a part of Equity.”

“Funds may only be used as a low income subsidy of monthly rent, meals, phone, and in-home care services for a qualified low income resident. The fund may also be used to assist a qualified prospective resident with transportation and or moving expense to relocate to the Center. Written policy details the application process, financial guidelines and Board approval process required before an on-going subsidy becomes effective for a Resident. This is a Board designated Endowment.”

“Line 2, Life Tenancy Liability - Residents who are under a Life Tenancy agreement, paid a lump sum for Life Tenancy, and that amount is decremented over ten years. This amount is owed to such Residents if they move out or die before their Life Tenancy has been fully used up. Line 3, Refundable Estate Fee Liability - These funds belong to Residents who are under a Life Tenancy agreement, and when they die or move away, this amount will be refunded to them. It does not accrue interest. Line 4, In-Home Care Reimbursement Fund Liability - When a resident moves into the Center, a $500 sum is gifted to them and may be used upon submitting documentation showing the in-home health related services have been paid by themselves. They may draw on this fund at their decision. Each resident receives only a one time gift of $500, to be used up in the manner detailed in our procedures. It is designed to allow residents to see how some in-home health services may enable them to remain in their own homes for a longer period of time.”