2019-04-17T11:44:14-05:00 2018-06-30 263753134 CBIZ MHM LLC 500 BOYLSTON STREET BOSTON MA 02116 990 2017-07-01 223042122 LASELL VILLAGE INC LASE 6176637000 120 SEMINARY AVE AUBURNDALE MA 02466 MICHAEL J HOYLE PH D VP FOR ADMIN. & FINANCE 6176637000 2019-04-08 1 CRAIG KLEIN P00734640 6177610600 2019-04-08 207.172.72.163 2019-04-08 07:44:16 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 AAFE5242E44AA74A98A743050A15125E154A43A4 2017 2019-02-21 02:37:17Z MICHAEL B ALEXANDER 120 SEMINARY AVE AUBURNDALE MA 02466 30247410 0 X WWW.LASELLVILLAGE.COM X 1990 MA LASELL VILLAGE IS A CONTINUING CARE RETIREMENT COMMUNITY, ON THE CAMPUS OF LASELL COLLEGE, WITH INDEPENDENT, SUPPORTED, AND SKILLED NURSING RESIDENTS. 12 12 268 20 0 4002 13228 12271 18208430 18302013 957638 853254 173267 212252 19352563 19379790 0 0 0 0 7459995 8310104 0 0 0 13307959 13264522 20767954 21574626 -1415391 -2194836 85255955 87873495 116976732 118895546 -31720777 -31022051 X LASELL VILLAGE, SPONSORED BY LASELL COLLEGE, IS HOME TO SOME 205 RESIDENTS IN ITS INDEPENDENT LIVING APARTMENTS, SUPPORTED LIVING STUDIOS AND INCLUDES A 38 BED SKILLED NURSING FACILITY. OPEN SINCE MAY 2000, THE VILLAGE COMBINES THE ELEMENTS OF LIFELONG LEARNING, RETIREMENT LIVING, SUPPORT SERVICES, SHORT-TERM REHABILITATION AND LONG-TERM CARE. 0 0 18679771 18302013 LASELL VILLAGE OPERATES A CONTINUING CARE RETIREMENT COMMUNITY AND PROVIDES, IN COOPERATION WITH LASELL COLLEGE, RESIDENTIAL AND NON-RESIDENTIAL EDUCATION PROGRAMS FOR ELDERLY PERSONS. THROUGH INTERGENERATIONAL LEARNING ACTIVITIES WITH THE FACULTY AND STUDENTS OF LASELL COLLEGE AND PROGRAMS SPONSORED BY THE ON-SITE ROSEMARY B. FUSS CENTER FOR RESEARCH ON AGING AND INTERGENERATIONAL STUDIES, LASELL VILLAGE DISSEMINATES CURRENT AND BROAD-BASED INFORMATION ABOUT AGING AND FACTORS THAT CONTRIBUTE TO WELL-BEING IN LATER LIFE. LASELL VILLAGE SPONSORS AND PARTNERS IN RESEARCH WITH OTHER EDUCATIONAL AND RESEARCH INSTITUTIONS REGARDING THE COGNITIVE, EMOTIONAL, PHYSICAL NEEDS AND CAPABILITIES OF THE ELDERLY AND THE VALUE OF CONTINUED LEARNING IN LATER LIFE. NUMBER OF RESIDENTS ENROLLED PER SEMESTER AND THE NUMBER OF COURSES OFFERED:FALL 2017: 185 RESIDENTS ENROLLED IN 18 COURSESSPRING 2018: 183 RESIDENTS ENROLLED IN 21 COURSESSUMMER 2018: 169 RESIDENTS ENROLLED IN 17 COURSES 18679771 1 0 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 48 0 1 268 1 1 1 0 0 0 0 0 0 0 0 0 X 12 12 0 1 0 0 0 0 0 1 1 1 0 1 1 1 1 1 1 1 1 0 MA X X MICHAEL J HOYLE PH D VP FOR AD 6172432000 1844 COMMONWEALTH AVENUE NEWTON MA 024662709 MARGERY SILVER CHAIRMAN 2.00 0.00 X X 0 0 0 ADELE FLEET BACOW CHAIRMAN (UNTIL 4/18) 2.00 0.00 X X 0 0 0 GERALD POLCARI TREASURER 2.00 0.00 X X 0 0 0 SUSAN HASS CLERK 1.00 0.00 X X 0 0 0 JEFFREY AUGUSTINE DIRECTOR 1.00 0.00 X 0 0 0 DR JOEL BAUMAN DIRECTOR 1.00 0.00 X 0 0 0 DEBORAH A DACCORD DIRECTOR 1.00 0.00 X 0 0 0 CYNTHIA DEMBER VILLAGE TRUSTEE 1.00 0.00 X 0 0 0 GERRY DEROCHE DIRECTOR 1.00 0.00 X 0 0 0 CHRISTINE DOYLE DIRECTOR 1.00 0.00 X 0 0 0 FRED PRYOR DIRECTOR 1.00 0.00 X 0 0 0 JEFFREY SIMON DIRECTOR 1.00 0.00 X 0 0 0 KATHY SWARTZ DIRECTOR 1.00 0.00 X 0 0 0 ERIC TURNER DIRECTOR (UNTIL 9/17) 1.00 0.00 X 0 0 0 ANNE E DOYLE PRESIDENT - LASELL VILLAGE 40.00 10.00 X 0 232055 17635 MICHAEL ALEXANDER PRES. LASELL COLL./CEO - LASELL VILLAGE 10.00 40.00 X 0 391353 98289 DR MICHAEL J HOYLE VP ADMIN. & FINANCE LASELL COLLEGE 10.00 40.00 X 0 213147 27161 PAMELA FARIA ASSISTANT CLERK (UNTIL 12/17) 10.00 40.00 X 0 132380 22188 NANCY SNOW ASSISTANT CLERK (AS OF 4/18) 40.00 0.00 X 0 50457 0 ELIZABETH IHENACHO RN SUPERVISOR 40.00 0.00 X 124837 0 28037 EDITH EBOZUE RN 40.00 0.00 X 115948 0 6801 PAMELA PATERSON DIRECTOR OF BUS.& FIN. 40.00 0.00 X 112436 0 3744 MARCIA FREDLICH MARKETING DIRECTOR (UNTIL 11/17) 40.00 0.00 X 133641 0 14220 MARIA LEONE RN (UNTIL 5/18) 40.00 0.00 X 152405 0 8420 639267 1019392 226495 5 0 1 0 LASELL COLLEGE 1844 COMMONWEALTH AVE NEWTON MA 02466 MANAGEMENT CONTRACT 2176923 COMMODORE BUILDERS 404 WYMAN ST SUITE 400 WALTHAM MA 02451 CONSTRUCTION MANAGEMENT 1857386 GENESIS REHABILITATION SERVICES PO BOX 821322 PHILADELPHIA PA 19182 REHAB FOR SKILLED NURSING UNIT 887884 PERKINS EASTMAN ARCHITECTS PC 115 FIFTH AVE NEW YORK NY 10003 ARCHITECTS FOR RENOVATIONS 473740 GENESIS ELDERCARE 101 EAST STATE ST 3RD FLOOR KENNETT SQUARE PA 19348 SKILLED NURSING MGMT. CONTRACT 398481 5 12271 12271 RESIDENTIAL FEES 623000 11540038 11540038 SKILLED NURSING 623000 5000354 5000354 SUPPORTED LIVING UNIT FEES 623000 938699 938699 EARNED ENTRANCE FEE 623000 822922 822922 18302013 860934 860934 10859940 10867620 -7680 -7680 -7680 OTHER INCOME 900099 212252 212252 212252 19379790 18302013 0 1065506 287590 287590 6281230 5602902 678328 214371 206691 7680 1064524 978162 86362 462389 410497 51892 667227 667227 42348 42348 176052 176052 12724 12724 1617073 1483213 133860 22348 22348 75449 18586 56863 237297 197263 40034 3905106 3765683 139423 2883 2883 8607 250 8357 788317 734213 54104 4003347 3728586 274761 206896 192696 14200 REAL ESTATE TAXES 680771 634070 46701 FACILITIES MAINT. CONT. 454826 423625 31201 LAND LEASE 205840 191720 14120 RESIDENT ACTIVITIES 67243 67243 90168 44371 45797 21574626 18679771 2894855 0 6956906 7250752 813118 50724 2499712 2813609 476910 592920 1515913 1512352 75463492 38643635 35347356 36819857 23343101 21098464 14103973 17505580 198966 229237 85255955 87873495 2110307 1539067 1145869 1152863 16241260 15711628 97479296 100491988 116976732 118895546 X -31795743 -31109288 74966 87237 -31720777 -31022051 85255955 87873495 X -2194836 1886169 1007393 X 0 1 X 1 0 X 69245 2322 13228 12271 97066 18296462 16653350 17566902 18208430 18302013 89027157 18296462 16722595 17569224 18221658 18314284 89124223 213096 266375 304605 310478 124418 1218972 0 213096 266375 304605 310478 124418 1218972 87905251 645808 768725 796476 746949 860934 3818892 645808 768725 796476 746949 860934 3818892 138821 136465 147925 173267 212252 808730 19081091 17627785 18513625 19141874 19387470 93751845 0.93760 0.93750 0.04070 0.03900 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2013 AMOUNT: $ 138,821. 2014 AMOUNT: $ 136,465. 2015 AMOUNT: $ 147,925. 2016 AMOUNT: $ 173,267. 2017 AMOUNT: $ 212,252. 74967 12178 92 87237 71574 3386 7 74967 69245 2322 7 71574 69245 69245 1.00000 0.00000 0.00000 0 0 65683372 35106060 30577312 9780120 3537575 6242545 36819857 CORPORATE BONDS 10704611 F PREFERRED STOCK 3226486 F GOVERNMENT OBLIGATIONS 2828583 F MORTGAGE BACKED BONDS 296312 F MUNICIPAL BONDS 449588 F 17505580 REFUNDABLE DEPOSITS & INTEREST 142000 NONREFUNDABLE ENTRANCE FEES 5820673 REFUNDABLE ENTRANCE FEES 89900242 FAIR VALUE OF INTEREST SWAP 2648154 DUE TO AFFILIATES 50871 FUTURE SERVICE OBLIGATION 1930048 100491988 X 22273352 1886169 1007393 2893562 19379790 0 19379790 21574626 0 21574626 0 21574626 PART X, LINE 2: THE VILLAGE ACCOUNTS FOR THE EFFECT OF ANY UNCERTAIN TAX POSITIONS BASED ON A "MORE LIKELY THAN NOT" THRESHOLD TO THE RECOGNITION OF THE TAX POSITIONS BEING SUSTAINED BASED ON THE TECHNICAL MERITS OF THE POSITION UNDER SCRUTINY BY THE APPLICABLE TAXING AUTHORITY. IF A TAX POSITION OR POSITIONS ARE DEEMED TO RESULT IN UNCERTAINTIES OF THOSE POSITIONS, THE UNRECOGNIZED TAX BENEFIT IS ESTIMATED BASED ON A "CUMULATIVE PROBABILITY ASSESSMENT" THAT AGGREGATES THE ESTIMATED TAX LIABILITY FOR ALL UNCERTAIN TAX POSITIONS. THE VILLAGE HAS IDENTIFIED ITS TAX STATUS AS A TAX-EXEMPT ENTITY AND ITS DETERMINATION AS TO ITS INCOME BEING RELATED OR UNRELATED AS ITS ONLY SIGNIFICANT TAX POSITIONS; HOWEVER, THE VILLAGE HAS DETERMINED THAT SUCH TAX POSITIONS DO NOT RESULT IN AN UNCERTAINTY REQUIRING RECOGNITION. THE VILLAGE IS NOT CURRENTLY UNDER EXAMINATION BY ANY TAXING JURISDICTIONS. THE VILLAGE'S FEDERAL AND STATE TAX RETURNS ARE GENERALLY OPEN FOR EXAMINATION FOR THREE YEARS FOLLOWING THE DATE FILED. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN FAIR VALUE OF INTEREST RATE SWAP 583,276. OBLIGATION TO PROVIDE FUTURE SERVICES 424,117. 1 1 0 0 0 0 0 0 0 ANNE E DOYLE PRESIDENT - LASELL VILLAGE 0 211538 0 20000 0 517 0 15885 0 1750 0 249690 0 0 MICHAEL ALEXANDER PRES. LASELL COLL./CEO - LASELL VILL 0 380329 0 0 0 11024 0 71877 0 26412 0 489642 0 0 DR MICHAEL J HOYLE VP ADMIN. & FINANCE LASELL COLLEGE 0 212871 0 0 0 276 0 16158 0 11003 0 240308 0 0 PAMELA FARIA ASSISTANT CLERK (UNTIL 12/17) 0 130856 0 0 0 1524 0 10144 0 12044 0 154568 0 0 ELIZABETH IHENACHO RN SUPERVISOR 124357 0 0 0 480 0 5189 0 22848 0 152874 0 0 0 MARIA LEONE RN (UNTIL 5/18) 152206 0 0 0 199 0 0 0 8420 0 160825 0 0 0 PART I, LINES 4A-B DURING THE CALENDAR YEAR ENDED DECEMBER 31, 2017 THE COLLEGE OFFERED RETIREMENT PLANS PURSUANT TO SECTION 457(F) OF THE INTERNAL REVENUE CODE FOR CERTAIN EMPLOYEES, AS FOLLOWS: MICHAEL ALEXANDER, $40,000. AN INDIVIDUAL LISTED ON FORM 990, PART VII, RECEIVED A SEPARATION PAYMENT DURING CALENDAR YEAR 2017. ADDITIONAL INFORMATION IS AVAILABLE UPON REQUEST. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 000000000 2014-06-19 17906000 REFINANCE 2007 BONDS. 0 0 0 A 2021000 17906000 201000 17705000 2007 1 0 1 1 A 0 0 0 1 1 1 BANK OF AMERICA 30.000000000000 0 0 0 0 1 A 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: MASSACHUSETTS DEVELOPMENT FINANCE AGENCY DATE THE REBATE COMPUTATION WAS PERFORMED: 06/30/2017 FORM 990, PART VI, SECTION A, LINE 3 THE GOVERNING BODY OF LASELL VILLAGE HAS AUTHORIZED LASELL COLLEGE THROUGH A MANAGEMENT CONTRACT AS THE MANAGEMENT COMPANY TO PERFORM THE MANAGEMENT DUTIES TYPICALLY HANDLED BY DIRECT SUPERVISION OF OFFICERS OR KEY EMPLOYEES. LASELL VILLAGE SHALL HAVE THE RIGHT, UPON NOTICE TO LASELL COLLEGE, TO CHANGE, REPEAL OR ALTER POLICIES ADOPTED AND/OR IMPLEMENTED BY LASELL COLLEGE IN CONNECTION WITH MANAGING THE DAY-TO-DAY OPERATIONS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS PROVIDED TO ALL BOARD MEMBERS AND WAS REVIEWED BY THE BOT AT A MEETING HELD ON APRIL 11, 2019 PRIOR TO BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C OUR ORGANIZATION REGULARLY AND CONSISTENTLY ENFORCES COMPLIANCE WITH OUR WRITTEN CONFLICT OF INTEREST POLICY BY HAVING EACH TRUSTEE, PRINCIPAL OFFICERS AND MEMBER OF A COMMITTEE WITH BOARD DELEGATED POWERS ANNUALLY SIGN A STATEMENT WHICH AFFIRMS THEIR UNDERSTANDING OF THE POLICY AND THEY INDICATE WHETHER OR NOT A CONFLICT EXISTS. THE POLICY IS ALSO REVIEWED ANNUALLY WITH MANAGERS AND WHICH IN TURN REVIEW ANNUALLY WITH THEIR STAFF. FORM 990, PART VI, SECTION B, LINE 15 THE CHAIRMAN OF THE BOARD OF TRUSTEES IN CONSULTATION WITH THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES CONDUCT AN ANNUAL WRITTEN EVALUATION OF THE PRESIDENT AND ESTABLISHES COMPENSATION BASED ON A COMPARISON OF PRESIDENTS AT SIMILAR SIZED INSTITUTIONS. THE PRESIDENT CONDUCTS AN ANNUAL WRITTEN EVALUATION OF KEY EMPLOYEES TAKING INTO ACCOUNT COMPENSATION OF PEERS AT SIMILAR SIZED INSTITUTIONS. FORM 990, PART VI, SECTION C, LINE 19 THE 990 IS AVAILABLE ON GUIDESTAR AND THE MASSACHUSETTS ATTORNEY GENERAL'S WEBSITE. THE FORM 1023 IS AVAILABLE UPON REQUEST. ALSO AVAILABLE UPON REQUEST ARE OUR GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS. FORM 990, PART XI, LINE 9: CHANGE IN FAIR VALUE OF INTERST RATE SWAP 583,276. OBLIGATION TO PROVIDE FUTURE SERVICES 424,117. FORM 990, PART VI, LINE 9: ADELE FLEET BACOW 17 JAMES ST., SUITE ONE BROOKLINE, MA 02446 ERIC TURNER 1844 COMMONWEALTH AVE. NEWTON, MA 02466 LASELL COLLEGE INC 1844 COMMONWEALTH AVENUE NEWTON MA 02466 042103585 EDUCATION MA 501(C)(3) LINE 2 LASELL INC 0 LASELL INC 1844 COMMONWEALTH AVENUE NEWTON MA 02466 861070319 ADMINISTRATIVE SUPPORT MA 501(C)(3) LINE 12B, II N/A 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 NA