2019-08-07T13:03:45-05:00 2018-12-31 010494526 Baker Newman & Noyes LLC Box 507 Portland ME 04112 990 2018-01-01 010496258 Maine Life Care Retirement Community Inc MAIN 2078838700 15 Piper Road Scarborough ME 04074 Robert Danielson Chair 2078838700 2019-06-27 1 Nicholas E Porto P01310283 2078792100 2019-06-27 208.105.168.164 2019-06-27 11:45:28 ED P 89E582745F398AB9123794375B037D04AD0E63E3 1858DCD9145052AFD59E6E126536EE0AD80069D4 2018 2019-02-21 02:37:17Z Piper Shores Robert Danielson 15 Piper Road Scarborough ME 04074 25648926 0 X www.pipershores.org X 1995 ME Continuing care retirement community 12 12 322 25 0 0 23974 993 15175736 17646790 3415201 3010000 0 0 18614911 20657783 85179 48780 0 0 8148050 9352066 0 0 0 9707327 11368861 17940556 20769707 674355 -111924 109358739 107778630 124865998 127121498 -15507259 -19342868 X Maine Life Care Retirement Community (dba Piper Shores) offers a vibrant retirement living lifestyle that enriches residents by providing a continuum of the highest quality of care and service. Piper Shores will help all residents realize their optimum potential by cultivating a rich diversity of life experience that connects to innovative programs and services. 0 0 14730133 48780 17646790 Maine Life Care provides residents with a safe and secure home community, providing for independent living needs and continued health care services for the remainder of their lives. It consists of 160 independent living units, 40 independent living cottages, 50 assisted living units, 40 skilled nursing beds, and common areas. 14730133 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 76 0 1 322 1 0 0 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X Richard Ashley 2078838700 15 Piper Road Scarborough ME 04074 Thomas Amoroso Director (through Oct 2018) 2.00 X 0 0 0 Amy Booth Director 2.00 X 0 0 0 Marilyn Gugliucci Director 2.00 X 0 0 0 Raymond Kelley Director 2.00 X 0 0 0 Gerard Kiladjian Director 2.00 X 0 0 0 Nancy Magee Director 2.00 X 0 0 0 Jane Pringle MD Director 2.00 X 0 0 0 Isabella Stumpf MD Director 2.00 X 0 0 0 Dan Thornton Director 2.00 X 0 0 0 Robert Danielson Chair 4.00 X X 0 0 0 Malcolm Rogers MD Vice Chair 4.00 X X 0 0 0 James Bennett Treasurer 4.00 X X 0 0 0 Susan Guerette Secretary 4.00 X X 0 0 0 James Adamowicz CEO 40.00 X 295733 0 23657 Andrea Killiard Marketing Director 40.00 X 179842 0 15335 Richard Ashley Finance Director 40.00 X 159655 0 8715 Brian Kenney Facilities Director 40.00 X 135348 0 19848 Michelle McGarrity Food and Beverage Director 40.00 X 129103 0 20333 Linda Lamontagne Director of Nursing 40.00 X 128709 0 13461 1028390 0 101349 6 0 1 0 CCB Inc 65 Bradley Drive Westbrook ME 04092 Construction Services 754763 Rehab Care Inc PO Box 503534 St Louis MO 63150 Physical Therapy 507397 Systems Engineering 120 Exchange Street Portland ME 04101 IT Services 318916 Seaside Painting 500 Flag Pond Road Saco ME 04072 Painting Services 286850 RLPS Architects 250 Valleybrook Drive Lancaster PA 17601 Architectural Services 281766 13 993 993 Resident services 541300 17543045 17543045 Miscellaneous Revenue 541300 103745 103745 17646790 675277 675277 7325866 4991143 2334723 2334723 2334723 20657783 17646790 0 3010000 48780 48780 319390 319390 7288062 5759431 1528631 144080 100180 43900 1039987 888214 151773 560547 438799 121748 58321 58321 43925 43925 267048 217627 49421 292428 292428 617401 34692 582709 3338195 2136445 1201750 56887 9928 46959 51327 27020 24307 870671 557229 313442 3384658 2166181 1218477 117758 75365 42393 Dining services 1162789 1162789 Health services 923454 923454 Provider Tax 85342 85342 Housekeeping & laundry 79025 79025 19632 19632 20769707 14730133 6039574 0 1779221 1489390 8498301 11844205 390570 385055 207762 470614 46461 40682 203988 117016 101232784 36393569 63787638 64839215 34106864 28268847 337934 323606 109358739 107778630 3122950 2272802 83467044 88316693 30765094 28689738 1710979 0 5799931 7842265 124865998 127121498 X -16422037 -20240757 914778 897889 -15507259 -19342868 109358739 107778630 -111924 -3723685 0 X X 0 1 X 1 0 X 7145 4256 10272 23974 993 46640 13826063 14091772 14734967 15175736 17646790 75475328 13833208 14096028 14745239 15199710 17647783 75521968 0 0 0 75521968 452648 562303 547642 716383 675277 2954253 452648 562303 547642 716383 675277 2954253 14285856 14658331 15292881 15916093 18323060 78476221 0.96240 0.96430 0.03760 0.03570 X 945350 993 -38141 908202 887602 23974 33774 945350 874616 10272 2714 887602 883748 4256 -13388 874616 870131 7145 6472 883748 0.00000 0.00000 1.00000 0 0 2837480 2837480 89419139 30845818 58573321 7738616 5547751 2190865 1237549 1237549 64839215 Resident Deposits 7480519 Refunds in Process 361746 7842265 X 16934098 -3723685 -3723685 20657783 0 20657783 20769707 0 20769707 0 20769707 Part V, Line 4: The endowment fund will be used to help the community with the loss of revenue from residents whose financial resources have eroded and to help stabilize resident monthly fees. Gifts to the endowment fund may also support projects and programs that might otherwise not be affordable. Part X, Line 2: The Community is exempt from federal income taxes under section 501(c)(3) of the Internal Revenue Code. Tax-exempt organizations could be required to record an obligation for income taxes as the result of a tax position they have historically taken on various tax exposure items including unrelated business income or tax status. Under guidance issued by the Financial Accounting Standards Board, assets and liabilities are established for uncertain tax positions taken or positions expected to be taken in income tax returns when such positions are judged to meet the "more likely than not" threshold, based upon the technical merits of the position. Estimated interest and penalties, if applicable, related to uncertain tax positions are included as a component of income tax expense. The Community has evaluated the positions taken on its filed tax returns. 1 Financial Hardship Assistance 2 48780 Residency Fees Billed Reduction/Write Off of Monthly Residency Fees Part I, Line 2: Grants are provided in the form of a reduction or write off of residency fees for residents of Maine Life Care Retirement Community who are experiencing proven financial hardship. X X X X 0 0 0 0 0 0 0 1 0 James Adamowicz CEO 262933 0 32800 0 0 0 9050 0 14607 0 319390 0 0 0 Andrea Killiard Marketing Director 160393 0 19449 0 0 0 7194 0 8141 0 195177 0 0 0 Richard Ashley Finance Director 140741 0 18914 0 0 0 6386 0 2329 0 168370 0 0 0 Brian Kenney Facilities Director 113776 0 21572 0 0 0 5414 0 14434 0 155196 0 0 0 Part I, Line 7 The Organization has a modest bonus program for the CEO and other senior management. One of the components of the program is actual financial performance compared to budgeted financial expectations. A Maine Health and Higher Education Facilities Authority Series 2015 010314384 2015-06-17 35000000 Construction of assisted living units; current refunding 2004 & 2012 bonds 0 0 0 A 35000000 196911 10000000 1 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 0 0 0 1 A 1 Form 990, Part VI, Section B, line 11b The finance committee reviews and accepts the Form 990 and the board affairs committee reviews the governance section. Copies are distributed to the entire Board before filing. Form 990, Part VI, Section B, line 12c Officers & Directors complete a questionnaire and the CEO reviews the disclosures. The information is submitted to the Bureau of Insurance annually. Form 990, Part VI, Section B, line 15 The Board of Directors sets compensation for the CEO. The CEO sets compensation for top management based on industry data. Form 990, Part VI, Section C, line 19 Form 990 and other documents are provided upon request. Form 990 may also be viewed at www.guidestar.org. Form 990, Part XII, line 2c: The finance committee is responsible for overseeing the audit of the financial statements and selecting an independent auditor. The audit process has not changed from the prior year.