2021-01-11T10:04:47-06:00 2020-05-31 593070669 MSL PA 255 S ORANGE AVENUE SUITE 600 ORLANDO FL 32801 990 2019-06-01 592774476 MORSELIFE FOUNDATION INC MORS 5614715111 4847 DAVID S MACK DRIVE WEST PALM BEACH FL 33417 HONG CHAE SENIOR VICE PRESIDENT/CFO 5614715111 2021-01-11 1 VICKI L HINZ CPA P00356696 4077405400 2019 2022-09-23 18:48:47Z KEITH A MYERS 4847 DAVID S MACK DRIVE WEST PALM BEACH FL 33417 8006094 0 X WWW.MORSELIFE.ORG X 1987 FL TO SOLICIT, RECEIVE AND INVEST THE PROCEEDS OF GRANTS, CONTRIBUTIONS, PLEDGES, AND OTHER SUPPORT FROM GOVERNMENTAL ENTITIES AND THE PUBLIC AT LARGE, AND TO SUPPORT ALL AFFILIATED AGENCIES WHOSE SOLE MEMBER IS MORSELIFE HEALTH SYSTEM, INC., FOR THE PURPOSE OF ENHANCING SENIOR LIVING IN THE SPIRIT OF JEWISH TRADITION. 12 12 13 14 0 0 3899774 6445223 0 0 1553540 1166049 405360 302463 5858674 7913735 5172502 2076424 0 0 1394220 1291333 0 0 1270799 2684055 3151662 9250777 6519419 -3392103 1394316 33504935 37661565 20467872 24656061 13037063 13005504 X TO SOLICIT, RECEIVE AND INVEST THE PROCEEDS OF GRANTS, CONTRIBUTIONS, PLEDGES, AND OTHER SUPPORT FROM GOVERNMENTAL ENTITIES AND THE PUBLIC AT LARGE, AND TO SUPPORT ALL AFFILIATED AGENCIES WHOSE SOLE MEMBER IS MORSELIFE HEALTH SYSTEM, INC., FOR THE PURPOSE OF ENHANCING SENIOR LIVING IN THE SPIRIT OF JEWISH TRADITION. 0 0 4487165 2076424 70400 THE ORGANIZATION SOLICITS AND COLLECTS FUNDS FOR THE BENEFIT OF ITS AFFILIATED TAX-EXEMPT ENTITIES. THE FUNDS ARE GIVEN TO THE AFFILIATES IN SUPPORT OF THEIR TAX-EXEMPT PURPOSE OF PROVIDING SENIOR LIVING ACCOMODATIONS AND HEALTH SERVICES. 4487165 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 1 27 0 1 13 1 0 0 0 0 0 0 0 0 0 0 0 0 X 12 12 0 1 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X X RANDY T WOLAN 5612096108 4847 DAVID S MACK DRIVE WEST PALM BEACH FL 33417 ARTHUR S LORING PRESIDENT 2.00 10.00 X X 0 0 0 DAVID MACK VICE PRESIDENT 2.00 4.00 X X 0 0 0 MITCHELL RUBENSTEIN TREASURER 2.00 4.00 X X 0 0 0 RICHARD ROTHSCHILD SECRETARY 2.00 0.00 X X 0 0 0 ROY APPLE DIRECTOR 2.00 2.00 X 0 0 0 HOWARD GANEK DIRECTOR 2.00 0.00 X 0 0 0 JOSEPH JACOBS DIRECTOR 2.00 2.00 X 0 0 0 STANLEY M KATZ DIRECTOR 2.00 12.00 X 0 0 0 FRANCINE KITTREDGE DIRECTOR 2.00 8.00 X 0 0 0 MICHAEL MARGOLIS DIRECTOR 2.00 2.00 X 0 0 0 TERRI C SRIBERG DIRECTOR 2.00 14.00 X 0 0 0 RONALD BERK DIRECTOR 2.00 0.00 X 0 0 0 IRVING GEFFEN SENIOR VP OF MORSELIFE FOUNDATION 40.00 0.00 X 376056 0 20976 MARY A PAPPAS SENIOR VP OF MORSELIFE FOUNDATION 40.00 0.00 X 383718 0 40870 KEITH A MYERS CHIEF EXECUTIVE OFFICER 6.00 42.00 X 0 1425589 51707 HONG CHAE CHIEF FINANCIAL OFFICER 8.00 40.00 X 0 394383 2689 ETHAN KERNKRAUT DIRECTOR OF MORSELIFE FOUNDATION 40.00 0.00 X 131094 0 0 LISBETH ROCK DIRECTOR OF MORSELIFE FOUNDATION 40.00 0.00 X 144315 0 12946 JOAN BEVER VP OF EVENTS 40.00 0.00 X 254486 0 1909 1289669 1819972 131097 5 0 1 0 PALM BEACH SENIOR CARE HEALTH MANAGEMENT 4847 DAVID S MACK WEST PALM BEACH FL 33417 MANAGEMENT SERVICES 680518 JENNI FRUMER NEWSTEIN 146 COCOPLUM LN ROYAL PALM BEACH FL 33411 PROGRAM MANAGEMENT SERVICES 105500 2 6445223 134248 6445223 399917 399917 858491 92359 766132 766132 766132 INVESTMENT RECOVERY 623000 232063 232063 EVENT REVENUE - ATTENDANCE FEE 623000 70400 70400 302463 7913735 70400 0 1398112 2076424 2076424 663305 66330 132661 464314 488436 48844 97687 341905 37044 3704 7409 25931 45877 45877 56671 5667 11334 39670 890347 890347 66055 66055 21577 21577 255380 255380 378400 140095 238305 40921 40921 64429 6443 12886 45100 21306 21306 974 974 902948 902948 112178 89742 11218 11218 43576 4358 8715 30503 COMMUNITY EVENTS 252263 252263 ANNUITY DISCOUNT EXPENS 52547 52547 MISCELLANEOUS 35313 35313 MEMBERSHIPS AND DUES 6370 6370 7078 7078 6519419 4487165 761455 1270799 224554 1298391 10410113 8415319 137909 59905 1792888 518355 1196637 1274533 21194404 26005636 341318 607781 33504935 37661565 141025 195880 20326847 24460181 20467872 24656061 X 10994873 9054067 2042190 3951437 13037063 13005504 33504935 37661565 X 1394316 -727847 -698028 X X 0 1 X 1 0 X 9110836 4253553 6774352 3899774 6445223 30483738 9110836 4253553 6774352 3899774 6445223 30483738 2731317 27752421 314985 403377 397318 402148 399917 1917745 405360 302463 707823 33109306 0.83820 0.91260 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 962106 52350 43196 127913 929739 1082373 20843 42776 183886 962106 1044710 45723 -636 7424 1082373 1109411 55031 9609 129341 1044710 2473029 23496 20987 1408101 1109411 0.89270 0.10730 0 0 123065 68598 54467 1669823 449757 1220066 1274533 CASH AND CASH EQUIVALENTS 1031385 F CORPORATE BONDS 9534011 F MANAGED EQUITY FUNDS 15440240 F 26005636 ANNUITIES PAYABLE 414607 DUE TO/FROM AFFILIATES 372345 NOTES PAYABLE TO AFFILIATES 23673229 24460181 PART V, LINE 4: THE FOUNDATION'S SPENDING POLICY OBJECTIVE IS TO ALLOW ITS ENDOWMENT TO GROW AND PROVIDE FUTURE CASH FLOWS FOR OPERATIONS AND OTHER DESIGNATED PURPOSES. 1 LOLA & SAUL KRAMER SENIOR SERVICES AGENCY INC 4847 DAVID S MACK DRIVE WEST PALM BEACH FL 33417 900730105 501(C)(3) 845589 MISSION SUPPORT AND EVENTS MORSELIFE HOUSING CORPORATION INC 4847 DAVID S MACK DRIVE WEST PALM BEACH FL 33417 650888855 501(C)(3) 240036 MISSION SUPPORT AND EVENTS MORSELIFE HOMECARE INC 4847 DAVID S MACK DRIVE WEST PALM BEACH FL 33417 592753822 501(C)(3) 140916 MISSION SUPPORT AND EVENTS JOSEPH L MORSE HEALTH CENTER 4847 DAVID S MACK DRIVE WEST PALM BEACH FL 33417 592120896 501(C)(3) 826683 MISSION SUPPORT AND EVENTS PART I, LINE 2: THE GRANT FUNDS ARE PROVIDED TO RELATED PARTIES IN WHICH THE MANAGEMENT OFFICIALS ARE THE SAME AS THE FILING ORGANIZATION. THE MONIES ARE USED FOR THEIR INTENDED PURPOSES AS REPORTED WITHIN SCHEDULE I, PART II. X X X X X 0 1 0 0 0 0 0 1 0 IRVING GEFFEN SENIOR VP OF MORSELIFE FOUNDATION 375006 0 1050 0 0 0 13536 0 7440 0 397032 0 0 0 MARY A PAPPAS SENIOR VP OF MORSELIFE FOUNDATION 0 0 0 0 383718 0 33430 0 7440 0 424588 0 0 0 KEITH A MYERS CHIEF EXECUTIVE OFFICER 0 87423 0 1300000 0 38166 0 51707 0 0 0 1477296 0 0 HONG CHAE CHIEF FINANCIAL OFFICER 0 23365 0 0 0 371018 0 2689 0 0 0 397072 0 0 LISBETH ROCK DIRECTOR OF MORSELIFE FOUNDATION 144265 0 50 0 0 0 0 0 12946 0 157261 0 0 0 JOAN BEVER VP OF EVENTS 178436 0 76050 0 0 0 1909 0 0 0 256395 0 0 0 PART I, LINE 4B JOSEPH L. MORSE HEALTH CENTER, INC. MAINTAINS TWO NONQUALIFIED EMPLOYEE DEFERRED COMPENSATION PLANS OPEN TO CERTAIN KEY EMPLOYEES UNDER INTERNAL REVENUE CODE 457(B) AND SECTION 457(F) (COLLECTIVELY, THE 457 PLANS). THE 457 PLANS PROVIDE, AMONG OTHER THINGS, FOR VOLUNTARY CONTRIBUTIONS TO BE MADE BY ELIGIBLE PARTICIPANTS. THESE FUNDS REMAIN THE PROPERTY OF JOSEPH L. MORSE HEALTH CENTER, INC. AND SUBSIDIARIES. JOSEPH L. MORSE HEALTH CENTER, INC. AND SUBSIDIARIES HAVE A FIDUCIARY DUTY OF ACCOUNTABILITY FOR THESE FUNDS. KEY EXECUTIVE, KEITH MYERS, PARTICIPATES IN THE DEFERRED COMPENSATION PLAN UNDER IRC SEC. 457(F). JOSEPH L. MORSE HEALTH CENTER, INC. MADE CONTRIBUTIONS ON BEHALF OF KEITH MYERS TO THE PLAN IN THE AMOUNT OF $50,501 FOR THE YEAR ENDED DECEMBER 31, 2019. JOSEPH L. MORSE HEALTH CENTER, INC. MADE CONTRIBUTIONS ON BEHALF OF THE FOLLOWING LISTED EMPLOYEES THAT PARTICIPATED IN THE DEFERRED COMPENSATION PLAN UNDER IRC SEC. 457(B). CHAE, HONG - $2,689. MYERS, KEITH - $1,206. PAPPAS, MARY - $23,837. GEFFEN, IRVING - $13,536. PART I, LINE 6 KEITH MYERS, PRESIDENT AND CEO, HAS AN INCENTIVE/BONUS CLAUSE IN HIS EMPLOYMENT AGREEMENT WITH MORSELIFE HEALTH SYSTEM, INC. (A RELATED ORGANIZATION). PART I, LINE 7 KEITH MYERS, PRESIDENT AND CEO, HAS AN INCENTIVE/BONUS CLAUSE IN HIS EMPLOYMENT AGREEMENT WITH MORSELIFE HEALTH SYSTEM, INC. (A RELATED ORGANIZATION). THE INCENTIVE/BONUS IS BASED ON INDIVIDUAL PERFORMANCE, AS APPROVED BY THE BOARD OF DIRECTORS. X 1 90400 FAIR MARKET VALUE X 7 43848 FAIR MARKET VALUE 0 0 0 FORM 990, PART VI, SECTION A, LINE 3 AS OF JANUARY 1, 2019, THE FOUNDATION ENTERED INTO AN ADDITIONAL MANAGEMENT AND CONSULTANT AGREEMENT WITH A TERM OF 5 YEARS, WITH AMPLIFII MANAGEMENT, LLC ("AMPLIFII"), A MANAGEMENT AND CONSULTING GROUP THAT HAS ENTERED INTO A SIMILAR AGREEMENT WITH THE FOUNDATION'S AFFILIATES. FORM 990, PART VI, SECTION A, LINE 6 MORSELIFE HEALTH SYSTEM, INC. IS THE SOLE MEMBER OF THE MORSELIFE FOUNDATION, INC. FORM 990, PART VI, SECTION A, LINE 7A THE SOLE MEMBER, MORSELIFE HEALTH SYSTEM, INC., SHALL ELECT BOARD MEMBERS AND AT ANY TIME IN ITS SOLE DISCRETION, REMOVE AND NAME A REPLACEMENT FOR ANY BOARD MEMBER. FORM 990, PART VI, SECTION A, LINE 7B MORSELIFE HEALTH SYSTEM, INC. IS THE SOLE MEMBER OF THE MORSELIFE FOUNDATION, INC. AND, AS SUCH, ELECTS THE BOARD OF DIRECTORS AND HAS ULTIMATE VOTING AND VETO AUTHORITY OVER BOARD DECISIONS. FORM 990, PART VI, SECTION B, LINE 11B AN AUDIT, COMPLIANCE AND ETHICS COMMITTEE, COMPOSED OF THE CHAIRPERSON OF THE BOARD OF DIRECTORS FROM EACH OF THE MORSELIFE RELATED ORGANIZATIONS AND THE SENIOR VICE PRESIDENT OF FINANCE, IS RESPONSIBLE FOR THE REVIEW OF THE FORM 990. THE CHAIRPERSON OF MORSELIFE HEALTH SYSTEM, INC. IS THE CHAIRPERSON OF THE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REQUIRES ALL BOARD MEMBERS TO SUBMIT A CONFLICT OF INTEREST STATEMENT ON AN ANNUAL BASIS. THE STATEMENTS, WHEN COMPLETED AND RETURNED, ARE REVIEWED BY THE PRESIDENT TO ENSURE THAT THERE ARE NO INADVERTENT CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 MORSELIFE FOUNDATION, INC. IS AN ORGANIZATION CONTROLLED BY MORSELIFE HEALTH SYSTEM, INC. MORSELIFE HEALTH SYSTEM, INC.'S COMPENSATION COMMITTEE IS COMPRISED OF THE BOARD MEMBERS. THIS COMMITTEE IS RESPONSIBLE FOR THE SEARCH, SELECTION, CONTRACT NEGOTIATION, PERFORMANCE REVIEWS, BENEFITS, AND ANNUAL SALARY INCREASES OF THE PRESIDENT & CEO POSITION. THE INITIAL CONTRACT NEGOTIATIONS OF THE PRESIDENT & CEO POSITION WERE BASED ON THE COMMITTEE'S REVIEW OF SIMILAR ENTITIES' COMPENSATION PACKAGES FOR THE TOP OFFICIAL BASED ON THOSE ENTITIES' PUBLISHED IRS FORM 990. IN ADDITION, THE COMPENSATION COMMITTEE SUBSCRIBES TO AND PARTICIPATES IN SEVERAL INDEPENDENT SALARY SURVEYS CONDUCTED BY NATIONAL ASSOCIATIONS & OTHER PROVIDER ENTITIES AND UTILIZES THE FINDINGS OF THESE SURVEYS TO ENSURE COMPARABILITY AND APPROPRIATENESS OF THE PRESIDENT/CEO COMPENSATION PACKAGE. THE COMMITTEE MEETS AT LEAST ANNUALLY TO CONDUCT A PERFORMANCE REVIEW OF THE PRESIDENT/CEO. PERFORMANCE IS BASED ON PREVIOUSLY ESTABLISHED METRICS AND BENCHMARKS AND THE ACHIEVEMENT OF THESE GOALS IS THE BASIS FOR FINANCIAL INCENTIVE, BONUS AND ANNUAL SALARY INCREASE. THE COMPENSATION COMMITTEE DOCUMENTS THEIR MEETINGS WITH WRITTEN MINUTES AS WELL AS MEMOS TO THE SENIOR VICE PRESIDENT OF FINANCE, WITH INSTRUCTIONS REGARDING THE EXECUTIVE COMPENSATION. THE PRESIDENT & CEO OF THE ORGANIZATION IS RESPONSIBLE FOR THE COMPENSATION OF THE MEMBERS OF THE EXECUTIVE TEAM, INCLUDING THE SENIOR VICE PRESIDENTS AND CHIEF FINANCIAL OFFICER. ANNUAL INCREASES AND BASE SALARY AMOUNTS ARE COMPARED TO THE COMPENSATION PACKAGES FOR SIMILAR POSITIONS UTILIZING OTHER SIMILAR ENTITIES' PUBLISHED IRS FORM 990. IN ADDITION, INDEPENDENT SALARY SURVEYS CONDUCTED BY NATIONAL ASSOCIATIONS & OTHER PROVIDER ENTITIES ARE UTILIZED TO ENSURE COMPARABILITY AND APPROPRIATENESS. THE PRESIDENT & CEO REPORTS ON THE ANNUAL INCREASE, SALARY ADJUSTMENT, AND/OR CHANGE IN BENEFIT PACKAGE FOR THE EXECUTIVE TEAM MEMBERS TO THE COMPENSATION COMMITTEE MADE UP OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: RELATED PARTY FORGIVENESS OF DEBT -1,008,028. NET ASSETS TRANSFERRED TO/FROM RELATED PARTIES 310,000. FORM 990, PART XII, LINE 2C OVERSIGHT OF AUDIT AND SELECTION OF INDEPENDENT ACCOUNTANT. THE ORGANIZATION'S AUDIT, COMPLIANCE AND ETHICS COMMITTEE IS RESPONSIBLE FOR THE SELECTION, MONITORING AND EVALUATION OF AN INDEPENDENT ACCOUNTING FIRM AND OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS. THERE WAS NO CHANGE IN THIS PROCESS FROM THE PRIOR YEAR. FORM 990, PART XI, LINE 9 TRANSACTION WITH AFFILIATE: DURING THE YEAR ENDED MAY 31, 2020, THE FOUNDATION RECEIVED A TRANSFER OF NET ASSETS TOTALING $310,000 WHICH CONSISTED OF $110,000 FROM HOME CARE, AND $200,000 FROM FRIENDS OF MORSE LIFE. MORSELIFE HOUSING CORPORATION INC 4847 DAVID S MACK DRIVE WEST PALM BEACH FL 33417 650888855 OPERATES A SENIOR LIVING COMMUNITY WITH FULL HEALTH SERVICES. FL 501(C)(3) LINE 10 MORSELIFE HEALTH SYSTEM INC 0 NEARLY NEW THRIFT SHOP OF MORSE GERIATRIC INC 4847 DAVID S MACK DRIVE WEST PALM BEACH FL 33417 592533256 RAISES FUNDS TO SUPPORT AFFILIATED TAX-EXEMPT ENTITIES. FL 501(C)(3) LINE 12B, II MORSELIFE HEALTH SYSTEM INC 0 MORSELIFE HEALTH SYSTEM INC 4847 DAVID S MACK DRIVE WEST PALM BEACH FL 33417 650018299 PROVIDES HEALTH CARE, HOUSING AND SUPPORT SERVICES TO SENIORS. FL 501(C)(3) LINE 12C, III-FI N/A 0 JOSEPH L MORSE HEALTH CENTER INC 4847 DAVID S MACK DRIVE WEST PALM BEACH FL 33417 592120896 OWNS AND OPERATES SKILLED NURSING FACILITY. FL 501(C)(3) LINE 10 MORSELIFE HEALTH SYSTEM INC 0 LOLA & SAUL KRAMER SENIOR SERVICES AGENCY INC 4847 DAVID S MACK DRIVE WEST PALM BEACH FL 33417 900730105 PROVIDES HOME AND COMMUNITY-BASED SERVICES TO SENIORS FL 501(C)(3) LINE 10 MORSELIFE HEALTH SYSTEM INC 0 FRIENDS OF MORSELIFE INC 4847 DAVID S MACK DRIVE WEST PALM BEACH FL 33417 650329966 RAISES FUNDS TO SUPPORT AFFILIATED TAX-EXEMPT ENTITIES. FL 501(C)(3) LINE 7 MORSELIFE FOUNDATION INC 1 MORSELIFE HOME CARE INC 4847 DAVID S MACK DRIVE WEST PALM BEACH FL 33417 592753822 PROVIDES HOME HEALTH AND OTHER SERVICES TO SENIORS FL 501(C)(3) LINE 10 MORSELIFE HEALTH SYSTEM INC 0 MORSELIFE HOSPICE INSTITUTE INC 4847 DAVID S MACK DRIVE WEST PALM BEACH FL 33417 800730376 PROVIDES HOSPICE AND PALLIATIVE CARE SERVICES. FL 501(C)(3) LINE 10 MORSELIFE HOME CARE INC 0 0 1 0 1 1 0 0 0 0 0 1 1 1 1 1 1 1 0 1 FRIENDS OF MORSELIFE INC S 200000 FMV