2022-11-14T15:19:01-06:00 2021-12-31 111986323 MARCUM LLP 555 LONG WHARF DRIVE NEW HAVEN CT 06511 990 2021-01-01 042696489 SALEM COMMUNITY CORPORATION SALE 5088522670 65 BRIARWOOD CIRCLE WORCESTER MA 01606 PAUL BOWLER EXECUTIVE DIRECTOR 5088522670 2022-11-14 1 PAUL BOWLER 999009999 MARY ANTONETTI P00431862 2037819600 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z ANDREW FREILICH 65 BRIARWOOD CIRCLE WORCESTER MA 01606 22998118 0 X WWW.BRIARWOODRETIREMENT.COM X 1974 MA TO PROVIDE HOUSING AND SUPPORT TO ITS RESIDENTS AND OTHER SENIORS. 15 15 345 100 0 0 3043052 613568 16377176 18440427 582779 721619 354150 287253 20357157 20062867 0 0 0 0 8236045 8396969 0 0 0 12170418 12877539 20406463 21274508 -49306 -1211641 70932425 69833808 81197484 79426050 -10265059 -9592242 THE ORGANIZATION'S MISSION IS TO ENHANCE THE WELL-BEING, INDEPENDENCE AND PERSONAL FULFILLMENT OF ITS RESIDENTS AND OTHER SENIORS BY PROVIDING EXCELLENT HOUSING, HEALTH, WELLNESS AND SUPPORTIVE SERVICES CONSISTENT WITH THE CARING SPIRIT OF THE FOUNDING CHURCHES. 0 0 17915517 18838638 THE ORGANIZATION'S PROGRAM SERVICES INCLUDE THE OPERATION OF AN 82-BED NURSING HOME, KNOLLWOOD NURSING CENTER AND A 228-UNIT CONTINUING CARE RETIREMENT AND ASSISTED LIVING FACILITY, BRIARWOOD COMMUNITY, IN WORCESTOR AND WEST BOYLSTON, MASSACHUSETTS. 17915517 1 1 0 1 0 0 1 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 15 0 345 1 0 0 0 0 0 0 0 1 1 0 0 0 X 15 15 0 1 0 0 1 0 1 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X HOLLY STEVENS 5088522670 65 BRIARWOOD CIRCLE WORCESTER MA 01606 X X DONALD KIPP DIRECTOR 1.00 X 0 0 0 JOSEPH WETTON DIRECTOR 1.00 X 0 0 0 PETER VILES DIRECTOR 1.00 X 0 0 0 ANITA THOMAS DIRECTOR 1.00 X 0 0 0 LOUIS SWAN DIRECTOR 1.00 X 0 0 0 EMILY STARR DIRECTOR 1.00 X 0 0 0 DR SARAH MCGEE DIRECTOR 1.00 X 0 0 0 EUGENE KREDA DIRECTOR 1.00 X 0 0 0 E MALCOM PARKINSON LEFT 421 DIRECTOR 1.00 X 0 0 0 RAYMOND GRENIER LEFT 421 DIRECTOR 1.00 X 0 0 0 NATALYA LESHCHINER FROM 421 DIRECTOR 1.00 X 0 0 0 ROBERT ARMSTRONG DIRECTOR 1.00 X 0 0 0 KAREN ANDERSON LEFT 421 DIRECTOR 1.00 X 0 0 0 ROBERT LONGDEN CLERK 3.00 X X 0 0 0 STEPHEN PITCHER TREASURER 3.00 X X 0 0 0 GAIL MORGAN VICE PRESIDENT 3.00 X X 0 0 0 ROBERT CHASE PRESIDENT 3.00 X X 0 0 0 PATRICK ENGLISH DIRECTOR 1.00 X 0 0 0 PAUL BOWLER LEFT 421 CEO 40.00 X 0 0 0 ALICE ERIKSEN DIRECTOR OF SALES AND MARK 40.00 X 104535 0 12645 DEBORAH AUDET DIRECTOR OF NURSING 40.00 X 112722 0 14464 PATRICIA FOLEY-MARTEL NURSING HOME ADMINISTRATOR 40.00 X 120423 0 13041 337680 0 40150 3 0 0 0 NATIONAL FACILITY SERVICES INC 239 LITTLETON ROAD WESTFORD MA 01886 MAINTENANCE 840480 INTELYCARE INC 1515 HANCOCK STREET QUINCY MA 02169 NURSING STAFFING 490872 ROGERSON COMMUNITIES 1 FLORENCE ST ROSLINDALE MA 02131 MANAGEMENT COMPANY 467406 PROFESSIONAL NURSES HEALTH SERVICES INC 425 SUNDERLAND ROAD WORCESTOR MA 01604 NURSING STAFFING 421968 AEGIS SCIENCES CORP PO BOX 645471 CINCINNATI OH 452645471 LAB PROCESSING 413551 9 47737 82897 482934 613568 PROGRAM SERVICE REVENUE 623000 18440427 18440427 18440427 182346 182346 175186 270526 -95340 -95340 -95340 3169820 2630547 539273 539273 539273 18560 47737 34178 -15618 -15618 MISCELLANEOUS REVENUE 900099 398211 398211 398211 20062867 18838638 0 610661 7122095 6643535 478560 716149 661010 55139 558725 515707 43018 592225 371847 220378 65509 41132 24377 62070 38973 23097 1320 1320 51652 32431 19221 1249325 784428 464897 131366 82482 48884 515547 515547 117644 73867 43777 1404840 882073 522767 4977 3125 1852 13713 8610 5103 1553809 1553809 2726526 2726526 270456 238260 32196 REPAIR & MAINTENANCE 1723327 1082046 641281 DIETARY 931114 584630 346484 SUPPLIES 669972 420663 249309 THERAPY 372599 233948 138651 419548 419548 21274508 17915517 3358991 0 7602790 8598314 719110 548216 1727774 978857 459807 378420 83519855 34614591 50002260 48905264 8337861 8888883 643413 603072 1439410 932782 70932425 69833808 1584795 1351457 6943873 6933613 38726808 37519770 969696 948861 32972312 32672349 81197484 79426050 X -12939653 -12263960 2674594 2671718 -10265059 -9592242 70932425 69833808 X -1211641 355551 1528907 X 0 1 X 1 0 X 284125 184740 333822 3043052 613568 4459307 15679116 15972203 16954155 16377176 18440427 83423077 15963241 16156943 17287977 19420228 19053995 87882384 14800 55000 69800 0 14800 55000 69800 87812584 296198 247868 203852 274670 357532 1380120 296198 247868 203852 274670 357532 1380120 420676 398211 818887 16259439 16404811 17491829 20115574 19809738 90081391 0.97480 0.97930 0.01530 0.01500 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 1320 1320 0 PART II-B, LINE 1: SALEM COMMUNITY CORPORATION PAYS DUES TO MASSACHUSETTS SENIOR ASSOCIATION AND THE AMERICAN HEALTH CARE ASSOCIATION. A PORTION OF THESE DUES IS ALLOCATED TO LOBBYING. X 1 0 1 43491 23322 42268 24545 0 2674595 442061 320736 765673 2671719 2208167 277305 280753 91630 2674595 2090485 273342 392030 33273 514417 2208167 2033957 120990 -17473 29890 17099 2090485 1756078 143144 302783 32527 135521 2033957 0.00000 0.49000 0.51000 0 0 1999250 1999250 62223425 25669798 36553627 13530825 5781050 7749775 3012239 2458199 554040 2754116 705544 2048572 48905264 MARKET VALUE SWAP ADJUSTMENT 1848151 REFUNDABLE DEPOSITS 288000 FUTURE SERVICE OBLIGATIONS 163880 RESIDENT REFUNDABLE ENTRANCE FEES 30372318 32672349 X 22589429 355550 2171012 2526562 20062867 0 20062867 21579212 304704 304704 21274508 0 21274508 PART II, LINE 9: INCLUDED IN LAND IN FIXED ASSETS PART IV, LINE 1B: SALEM COMMUNITY CORPORATION HAS CUSTODY OF ACCOUNTS FOR PATIENTS. THE AMOUNTS ARE EXPENDED BY PATIENTS AT THEIR REQUEST PART V, LINE 4: THE ORGANIZATION HAS RECEIVED DONOR-RESTRICTED CONTRIBUTIONS, WHICH HAVE BEEN ACCOUNTED FOR AS NET ASSETS WITH DONOR RESTRICTIONS THAT ARE PERPETUAL IN NATURE. THE PRINCIPAL AMOUNT OF THE CONTRIBUTION IS REQUIRED TO BE MAINTAINED, WITH THE INCOME BEING AVAILABLE FOR RESTRICTED PURPOSES. THE ORGANIZATION MAINTAINS THESE DONOR-RESTRICTED CONTRIBUTIONS IN TWO SEPARATE ENDOWMENT FUNDS, THE RESIDENTS ASSISTANCE FUND AND THE WOODBURY FUND. NET ASSETS WITH PURPOSE RESTRICTIONS REPRESENT GAINS AND LOSSES ON THE ABOVE ENDOWMENT FUNDS. IN ADDITION, NET ASSETS WITH PURPOSE RESTRICTIONS INCLUDE PURPOSE RESTRICTED GIFTS TO: ESTABLISH A FUND TO UNDERWRITE ADVANCE FEES; PAY FOR ADMINISTRATION TRAINING COSTS; PURCHASE A GENERATOR; DEVELOP MEMORY SUPPORT CARE; FUND LIBRARY USES. PART X, LINE 2: SALEM COMMUNITY CORPORATION IS A NONPROFIT CORPORATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE INTERNAL REVENUE CODE. MOUNTAIN STREET WAS ORGANIZED AS A LIMITED LIABILITY COMPANY. AS SUCH, MOUNTAIN STREET IS CONSIDERED A DISREGARDED ENTITY FOR TAX PURPOSES. THE ORGANIZATION ACCOUNTS FOR UNCERTAINTY IN INCOME TAX POSITIONS BY APPLYING A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2021 AND 2020, THERE ARE NO TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS PENDING OR IN PROGRESS. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 270,526. INTEREST RATE SWAP 1,528,907. FUNDRAISING EXPENSE 34,178. NET ASSETS RELEASED FROM RESTRICTIONS 337,401. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 270,526. FUNDRAISING EXPENSE 34,178. GOLF TOURNAMENT 66297 47737 18560 4930 10068 19180 66297 47737 18560 4930 10068 19180 34178 -15618 A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 042608195 57583F5P2 2004-09-01 18625000 REFINANCED 2001 BOND 0 0 0 B MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 042608195 57583R5Y7 2010-12-22 8650000 REFINANCED 2004 SERIES B 0 0 0 C MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 2018-09-21 17590000 EXPANSION OF CAMPUS 0 0 0 A 5160000 18625000 296375 380889 558064 17389672 0 1 1 1 B 1745000 8650000 8650000 1 0 1 1 C 390130 17539900 15635867 50100 1904033 0 0 0 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 A 0 0 1 0 1 1 MANUFACTURERS AND TRADERS TRUST 580.000000000000 0 0 0 0 0 B 0 0 1 0 1 1 MANUFACTURERS AND TRADERS TRUST 580.000000000000 0 0 0 0 0 C 0 1 0 0 1 1 MANUFACTURERS AND TRADERS TRUST 580.000000000000 0 0 0 0 0 A 0 B 0 C 0 FORM 990, PART VI, SECTION A, LINE 3 THROUGH APRIL 2021, THE MANAGEMENT COMPANY IS MASONIC HEALTH SYSTEMS. DUTIES INCLUDE SUPERVISING PERSONNEL, AND PLANNING AND EXECUTING FINANCIAL OPERATIONS. THESE SERVICES WERE PROVIDED BY PAUL BOWLER, INTERIM CEO, WHO WAS PAID $53,762. WHILE THE OUTSOURCING OF DUTIES DID NOT CHANGE, EFFECTIVE JANUARY 21, 2021, ROGERSON COMMUNITIES ASSUMED THE MANAGEMENT COMPANY RESPONSIBILITIES PREVIOUSLY PERFORMED BY MASONIC HEALTH SYSTEMS. ROGERSON PAYROLL REIMBURSEMENT FOR MIKE QUIRK, EXECUTIVE DIRECTOR THROUGH MANAGEMENT COMPANY, WAS $112,159.25 FOR 2021. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERSHIP SHALL CONSIST OF NOT LESS THAN TEN (10) REPRESENTATIVES OF THE FIRST BAPTIST CHURCH OF WORCESTER, MASSACHUSETTS, AND NOT LESS THAN TEN (10) REPRESENTATIVES OF THE SALEM COVENANT CHURCH OF WORCESTER, MASSACHUSETTS. IN ADDITION TO THE REPRESENTATIVES OF THE TWO CHURCHES, THE MEMBERS ANNUALLY AT THEIR ANNUAL MEETING MAY FIX AN ADDITIONAL NUMBER OF MEMBERS WHO ARE NOT REPRESENTATIVE OF EITHER CHURCH AND MAY ELECT THE ADDITIONAL NUMBER OF MEMBERS SO FIXED. FORM 990, PART VI, SECTION A, LINE 7B THE BOARD OF TRUSTEES SHALL CONSISTS OF A MINIMUM OF TWO (2) REPRESENTATIVE OF THE FIRST BAPTIST CHURCH OF WORCESTER MA AND WHO ARE NOT RESIDENTS OF BRIARWOOD AND A MINIMUM OF TWO (2) REPRESENTATIVES OF THE SALEM COVENANT CHURCH OF WORCESTER, MA AND WHO ARE NOT RESIDENT OF BRIARWOOD, WHENEVER FEASIBLE IN THE JUDGEMENT OF THE GOVERNANCE COMMITTEE. THE BOARD OF TRUSTEES SHALL ALSO INCLUDE THREE (3) RESIDENTS OF BRIARWOOD AND NOT LESS THAN SEVEN (7) MEMBERS FORM THE GREATER WORCESTER COMMUNITY. FORM 990, PART VI, SECTION A, LINE 7B A TRUSTEE MAY BE SUSPENDED OR REMOVED (A) WITH OR WITHOUT CAUSE BY VOTE OF A MAJORITY OF THE MEMBERS THAN IN OFFICE OR (B) WITH CAUSE BY VOTE OF A MAJORITY OF THE TRUSTEES THEN IN OFFICE. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF MEMBERS ON THE FINANCE COMMITTEE ARE GIVEN DRAFTS FOR REVIEW UPON THEIR REVIEW, IF ANY QUESTIONS ARISE, THEY DISCUSS WITH THE CEO. IF FURTHER CLARIFICATIONS IS NEEDED, THE ORGANIZATIONS OUTSIDE ACCOUNTANTS ARE CONSULTED. MANGEMENT WILL REVIEW A DRAFT OF THE FORM 990 UPON PREPARATION AND GIVE APPROVAL BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE CEO SERVES AS THE COMPLIANCE OFFICER. ALL SERVICES INVOLVING CONTRACTS WITH THE CORPORATION WILL BE REVIEWED AND APPROVED BY THE CEO. ALL MEMBERS OF THE CORPORATION AND MANAGERS INVOLVED IN CORPORATE PURCHASES WILL COMPLETE AN ANNUAL DISCLOSURE AND CONFLICT OF INTEREST DOCUMENT TO ASSURE ALL PROFESSIONAL, BUSINESS AND PERSONAL RELATIONSHIPS THAT MAY AFFECT PURCHASING OR SERVICE TO RESIDENTS ARE IDENTIFIED. FORM 990, PART VI, SECTION B, LINE 15 CURRENTLY, THE CEO IS OUTSOURCED FROM THE MANAGEMENT COMPANY, MASONIC, WHO DETERMINES SALARY BASED ON SERVICES PROVIDED. TYPICALLY, THE CEO IS INTERVIEWED AND SELECTED BY THE BOARD OF DIRECTORS AND THE FINANCE COMMITTEE. PRIOR TO MAKING THE COMPENSATION OFFER, HUMAN RESOURCES CONDUCTS A MARKET REVIEW OF CURRENT SALARY RANGES FOR CCRC/NURSING CENTERS IN THE GREATER WORCESTOR AREA. UPON COMPLETION OF THE SURVEY, THE BOARD DETERMINES A COMPENSATION PACKAGE AND MAKES THE OFFER ANNUALLY, THE BOARD CONDUCTS AN EVALUATION AND REVIEW OF THE CEO AND DETERMINES A PERCENTAGE INCREASE BASED ON THE REVIEW. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST FROM THE ORGANIZATION'S BUSINESS OFFICE. PART VII, LINE 1 INCLUDED IN THE COMPENSATION LISTED IN PART VII, LINE 1 FOR RODGER IS $112,000 IN COMPENSATION FOR MICHAEL QUIRK WORK AS INTERIM EXECUTIVE DIRECTOR. FORM 990, PART XI, LINE 9: INTEREST RATE SWAP 1,528,907. MOUNTAIN STREET PROPERTIES LLC 65 BRIARWOOD CIRCLE WORCESTOR MA 01606 841803425 REAL ESTATE PROPERTIES MA 1889 1265591 SALEM COMMUNITY CORPORATION