2019-09-20T08:30:49-05:00 2018-12-31 222428965 CITRIN COOPERMAN & COMPANY LLP 500 EXCHANGE STREET SUITE 9-100 PROVIDENCE RI 02903 990 2018-01-01 050510787 OCEAN STATE ASSISTED LIVING OCEA 4018849099 5 SAINT ELIZABETH WAY EAST GREENWICH RI 02818 LAURIE ANN OLIVEIRA ADMINISTRATOR 4018849099 2019-09-17 1 MICHAEL CRISCIONE P01456801 4014214800 68.15.50.214 2019-09-17 11:08:08 ED P 45CC2F6D33F051D6F1615B2EA37BE293E16E0F9D 929ECFC6041A7AA0A002473F659B1DCCC03AFB20 2018 2019-02-21 02:37:17Z THE SEASONS EAST GREENWICH LAURIE ANN OLIVEIRA 5 SAINT ELIZABETH WAY EAST GREENWICH RI 02818 6951204 0 X THESEASONS.ORG X 2000 RI ASSISTED LIVING COMMUNITY AND DEMENTIA CARE RESIDENCES. 8 8 91 7 0 0 1312 1893 5192235 5367447 140608 570120 5189 10504 5339344 5949964 0 0 0 0 1969576 2119487 0 0 0 3257514 3295680 5227090 5415167 112254 534797 10191208 9861984 9629061 9444550 562147 417434 THE MISSION OF OSAL IS TO PROVIDE A BALANCE OF COMMUNITY, WELLNESS AND ASSISTED LIVING SERVICES TO INDEPENDENT AND MEMORY IMPAIRED RESIDENTS WHILE PROMOTING RESIDENT QUALITY OF LIFE, DIGNITY AND MAXIMUM INDEPENDENCE. 0 0 5000287 5367447 PROVIDING QUALITY CARE WITH 66 TRADITIONAL ASSISTED LIVING APARTMENTS AND 20 DEMENTIA CARE RESIDENCES. 5000287 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 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 0 0 0 0 0 1 11 0 1 91 1 0 0 0 0 0 0 0 0 0 0 0 0 X 8 8 0 0 1 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 0 X LAURIE ANN OLIVEIRA ADMINISTRATOR 4018849099 5 SAINT ELIZABETH WAY EAST GREENWICH RI 02818 JULIE RICHARD PRESIDENT 1.00 X X 0 0 0 CRAIG BUTZBACH TREASURER 1.00 X X 0 0 0 DIANE STEERE NOBLES TRUSTEE 1.00 X 0 0 0 NICOLE PLANTE TRUSTEE 1.00 X 0 0 0 J CHRIS WOULFE VICE PRESIDENT 1.00 X X 0 0 0 JULIE GOULET SECRETARY 1.00 X X 0 0 0 DONALD C FORSTER TRUSTEE 1.00 X 0 0 0 GEORGE MANLEY JR TRUSTEE 1.00 X 0 0 0 DANIEL HUGHES FINANCE DIRECTOR 8.00 X 0 0 0 LAURIE ANN OLIVEIRA ADMINISTRATOR 40.00 X 96497 0 2000 96497 0 2000 0 0 0 0 MORRISON MANAGEMENT SPECIALISTS PO BOX 102289 ATLANTA GA 30368 FOOD/DINING, MAINTENANCE, HOUSEKEEPING 1528715 1 668 1225 1893 TENANT RENTS 623000 4992832 4992832 ANCILLARY SERVICES 623000 374615 374615 5367447 72727 72727 1483600 986207 497393 497393 497393 25537 668 15033 10504 10504 5949964 5367447 0 580624 X 98497 49249 49248 1671731 1447346 224385 11937 10780 1157 187229 156908 30321 150093 126866 23227 23025 23025 21000 21000 16318 16318 1683141 1655132 28009 60755 50105 10650 12516 12516 35909 35909 451542 443035 8507 16779 16779 270926 270926 561627 561627 91340 89282 2058 ADMINISTRATIVE 50802 50802 5415167 5000287 414880 0 1155931 1187850 17799 12238 51182 45099 13868543 8086070 6104990 5782473 2799239 2676123 62067 158201 10191208 9861984 402060 432228 9135000 8829176 92001 183146 9629061 9444550 X 562147 417434 562147 417434 10191208 9861984 X 534797 -680544 1034 X X 0 1 X 1 0 X 50989 40862 15997 1312 1893 111053 5313505 5649544 5278031 5192235 5367447 26800762 5364494 5690406 5294028 5193547 5369340 26911815 0 0 0 26911815 56138 55560 56958 62040 72727 303423 56138 55560 56958 62040 72727 303423 5420632 5745966 5350986 5255587 5442067 27215238 0.98890 0.98930 0.01110 0.01070 X 12614769 7225686 5389083 196955 61415 135540 794294 565112 229182 262525 233857 28668 5782473 DEPOSITS 183146 183146 X 5254136 -680544 1034 -679510 5933646 16318 16318 5949964 5398849 0 5398849 16318 16318 5415167 PART X, LINE 2: OSAL QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. AS A NOT-FOR-PROFIT ENTITY, OSAL IS SUBJECT TO UNRELATED BUSINESS INCOME TAX ("UBIT"), IF APPLICABLE. IN ACCORDANCE WITH FASB ASC 740, INCOME TAXES, OSAL APPLIES THE "MORE LIKELY THAN NOT" THRESHOLD TO THE RECOGNITION AND DERECOGNITION OF TAX POSITIONS FOR ITS FINANCIAL STATEMENTS. MANAGEMENT HAS EVALUATED OSAL'S TAX POSITIONS AND HAS CONCLUDED THAT THERE WERE NO UNCERTAIN TAX POSITIONS THAT QUALIFIED FOR EITHER RECOGNITION OR DISCLOSURE IN THESE FINANCIAL STATEMENTS. OSAL FILES AN INCOME TAX RETURN IN THE U.S. FEDERAL JURISDICTION. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SWAP 1,034. WINE TASTING 26205 668 25537 4157 263 10613 26205 668 25537 4157 263 10613 15033 10504 A RHODE ISLAND HEALTH AND EDUCATIONAL BUILDING CORP NONEAVAIL 2018-10-02 8901000 REFUND A PRIOR ISSUE; FACILITY CONSTRUCTION 0 0 0 A 8785000 8901000 116456 0 1 1 1 A 0 0 0 0 0 0 1 A 0 0 1 0 1 0 0 0 1 A 1 FORM 990, PART VI, SECTION A, LINE 4 OSAL REVISED ITS BYLAWS EFFECTIVE MAY 24, 2018. FORM 990, PART VI, SECTION A, LINE 6 OSAL WAS FORMED AS A NON-STOCK, NON-PROFIT CORPORATION WITH 2 CORPORATE MEMBERS: STEERE HOUSE, INC. AND SCANDINAVIAN HOME, INC., BOTH OF WHICH ARE RHODE ISLAND NON-PROFIT CORPORATIONS. THE TWO MEMBERS HAVE THE RIGHT TO PARTICIPATE IN OSAL'S GOVERNANCE. FORM 990, PART VI, SECTION A, LINE 7A OSAL IS GOVERNED BY AN EIGHT-PERSON BOARD OF DIRECTORS, THREE OF WHOM ARE ELECTED BY THE BOARD OF DIRECTORS OF EACH OF THE CORPORATE MEMBERS, WITH THE BALANCE ELECTED BY THE BOARD MEMBERS OF OSAL. FORM 990, PART VI, SECTION A, LINE 7B OSAL'S BY-LAWS INCLUDE A LIST OF DECISIONS THAT NEED TO BE APPROVED BY THE MEMBERS. FORM 990, PART VI, SECTION A, LINE 8B OSAL DOES NOT HAVE ANY ACTIVE COMMITTEES. FORM 990, PART VI, SECTION B, LINE 11B THE OSAL'S BOARD OF DIRECTORS REVIEWS AND APPROVES THE FORM 990 PRIOR TO ISSUANCE. FORM 990, PART VI, SECTION B, LINE 12C BOARD OF DIRECTORS AND SENIOR MANAGEMENT OF OSAL ARE REQUIRED TO SUBMIT ANNUAL DISCLOSURE STATEMENTS IN ACCORDANCE WITH OSAL'S CONFLICT OF INTEREST POLICY. ANY POTENTIAL CONFLICTS OF INTEREST THAT MAY ARISE PERIODICALLY MUST BE DISCLOSED TO THE BOARD. TO ENSURE THAT THE OSAL OPERATES IN A MANNER CONSISTENT WITH ITS CHARITABLE PURPOSES AND DOES NOT ENGAGE IN ACTIVITIES THAT COULD JEOPARDIZE ITS TAX-EXEMPT STATUS, PERIODIC REVIEWS ARE CONDUCTED. FORM 990, PART VI, SECTION B, LINE 15A THE ADMINISTRATOR'S COMPENSATION IS PART OF OSAL'S OVERALL BUDGET THAT IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. COMPENSATION FOR THE ADMINISTRATOR IS APPROVED BY THE BOARD OF DIRECTORS. COMPENSATION OF KEY EMPLOYEES IS APPROVED BY THE ADMINISTRATOR AND INCLUDED IN THE OPERATING BUDGET THAT IS PRESENTED TO THE BOARD OF DIRECTORS FOR APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC AT OSAL'S LOCATION. FORM 990, PART IX, LINE 11G CONTRACTED DINING, HOUSEKEEPING AND MAINTENANCE: PROGRAM SERVICE EXPENSES 1,185,824. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,185,824. FOOD: PROGRAM SERVICE EXPENSES 337,859. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 337,859. MISCELLANEOUS: PROGRAM SERVICE EXPENSES 131,449. MANAGEMENT AND GENERAL EXPENSES 12,131. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 143,580. BANK FEES AND SERV. CHARGES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 15,878. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 15,878. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF INTEREST RATE SWAP 1,034. FORM 990, PART XII, LINE 2C THERE HAVE BEEN NO CHANGES FROM THE PRIOR YEAR IN THE METHODS USED BY THE BOARD OF DIRECTORS RESPONSIBLE FOR OVERSIGHT OF THE AUDIT OF THE FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT.