2018-05-14T19:12:28-05:00 2017-06-30 910189318 Moss Adams LLP 10960 Wilshire Blvd Suite 1100 Los Angeles CA 90024 990 2016-07-01 270707394 Montecedro Inc MONT 6264035400 605 E Huntington Drive No 207 Monrovia CA 91016 James S Rothrock President & CEO 6264035400 2018-05-11 1 Lauren A Haverlock P00545829 3104770450 2018-05-11 2016 2022-09-23 18:48:47Z X James S Rothrock 605 E Huntington Drive No 207 Monrovia CA 91016 12519274 0 X www.montecedro.org X 2009 CA MONTECEDRO, INC. (MCINC) OPERATES HOUSING SPECIALLY DESIGNED FOR OLDER ADULTS, WITH ARRANGEMENTS FOR RESIDENTS' HEALTH CARE AND FINANCIAL SECURITY,AND OTHERWISE PROMOTE THE INTEREST AND SERVE THE NEEDS OF OLDERADULTS, PROVIDED THAT SUCH ACTIVITIES ARE CONSISTENT WITH ITS EXEMPTPURPOSES. MCINC OPERATES A CONTINUING CARE RETIREMENT COMMUNITY(CCRC) IN ALTADENA, CALIFORNIA (MONTECEDRO) CONSISTING OFRESIDENTIAL AND ASSISTED LIVING. MCINC IS ORGANIZED AS A NONPROFITCORPORATION UNDER THE GENERAL NONPROFIT CORPORATION LAWS OFTHE STATE OF CALIFORNIA. MONTECEDRO OPENED DECEMBER 16, 2015. 7 6 126 45 0 0 0 0 2527698 11995528 42541 44807 67005 478939 2637244 12519274 0 0 0 0 2312310 4697174 0 0 20776 11490713 12503173 13803023 17200347 -11165779 -4681073 198921587 186120152 195254619 181102740 3666968 5017412 X MonteCedro, Inc. (MCINC) operates housing specially designedfor older adults(MonteCedro), with arrangements forresidents' health care and financial security, and otherwise topromote the interest and serve the needs of older adults,provided that such activities are consistent with its exemptpurposes. 0 0 15192745 12462087 MC Inc. was created to operate housing specially designedfor older adults, with arrangements for resident's health care andfinancial security, and otherwise to promote the interest and servethe needs of older adults. 15192745 1 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 1 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 1 102 0 1 126 1 0 0 0 0 0 0 0 0 0 0 X 7 6 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X X Tyra Sherman 6264035400 605 E Huntington Drive Ste 207 Monrovia CA 91016 James Rothrock President & CEO 10.00 30.00 X X 0 430066 40222 Robert A Long Director, Chair 3.00 0.00 X X 0 0 0 Allen Mathies Director/Vice Chair/Treasurer 1.00 0.00 X X 0 0 0 Ben Lemon Director, Secretary 1.00 0.00 X X 0 0 0 Richard Flores from Jan 2017 Director 1.00 0.00 X 0 0 0 Tim Hartley Director 1.00 0.00 X 0 0 0 Gwen Whitson Director 1.00 0.00 X 0 0 0 Tyra Sherman VP Finance & CFO 10.00 30.00 X 0 114911 18860 Stacie Ocampo VP Human Resources 30.00 8.00 X 0 233182 22439 Terry Quigley VP Operations & COO 32.00 8.00 X 0 351342 28225 Barbara Calderone VP Risk Management & Education 32.00 8.00 X 0 215764 21355 David Weidert Executive Director 32.00 0.00 X 194621 0 14824 Stacy Wolf Marketing-Sales 40.00 0.00 X 110179 0 17926 Reana Padilla Marketing-Sales 40.00 0.00 X 105546 0 9434 410346 1345265 173285 3 0 1 0 MORRISON COMMUNITY LIVING PO BOX 102289 Altadena GA 303682289 catering 1121421 FIRST TEAM 4th Floor Pasadena CA 91107 contract labor 220186 SAN MARINO HOME HEALTH 2233 Huntington Dr San Marino CA 91108 contract labor 167359 CASTLEROCK DESIGN GROUP INC SUITE A Newport Beach CA 92663 design 155421 new image PO BOX 40443 Pasadena CA 91114 contract service 147525 5 Resident Care Fees 623000 9839700 9839700 Amort of Entrance Fees 721000 1660601 1660601 Ancillary Services 623990 495227 495227 11995528 40566 40566 12380 0 12380 12380 12380 4241 0 4241 4241 4241 Service Income 900099 452447 452447 Other Income 900099 14112 14112 466559 12519274 12462087 0 57187 228420 70470 144981 12969 3345675 2726318 611550 7807 89714 66313 23401 767893 659067 108826 265472 223699 41773 27912 27912 24300 24300 274998 274998 6114 6114 22143 7162 14981 10227 778 9449 3279727 3279727 3239519 3239519 265570 264370 1200 All other expenses 2011465 1123877 887588 Purchased Services Othe 1880586 1830049 50537 Amortization 1126487 1126487 Supplies 334125 299911 34214 17200347 15192745 1986826 20776 1884560 17918222 28568 222783 52206 61937 266733 114625 160486824 7394401 151568150 153092423 3587865 2343292 41533505 12366870 198921587 186120152 461683 793322 88897215 110883947 80016257 48258672 25879464 21166799 195254619 181102740 X 3608932 4942460 37660 34297 20376 40655 3666968 5017412 198921587 186120152 X -4681073 6031517 X 0 1 X 1 0 X 373304 314401 687705 10400 13200 2527698 11995528 14546826 383704 327601 2527698 11995528 15234531 0 0 0 15234531 913842 867215 669927 42541 52946 2546471 913842 867215 669927 42541 52946 2546471 67005 466559 533564 1297546 1194816 669927 2637244 12515033 18314566 0.83180 0.92610 0.13900 0.03120 X Schedule A, Part III, Line 12, Explanation of Other Income: Other Income - 2015 Amount: $ 10,507. 2016 Amount: $ 14,112. Service Income - 2015 Amount: $ 56,498. 2016 Amount: $ 452,447. Schedule A, Part IV Supplementary Information: The organization has received its exemption as a Supporting Organization and completes the Schedule A, Part III test to show that it is public supported. 27131901 450961 27496874 85988 33476058 257095 2541844 9007616 135480 27131901 12609527 27765084 1532515 8307167 123901 33476058 17289427 17289427 138382196 6767673 131614523 4815201 626728 4188473 153092423 Costs of Acquiring Initial Continuing Care Contracts 8459970 Restricted Cash and Cash Equivalents for Bond indenture 3652080 Interest in Related Parties' Net Assets 193081 Workers Compensation Collateral 61739 12366870 Interest Payable 272588 Other Current Liabilities 387688 Due to Related Parties 64804 Obligation of Future Service and Facility Use 18938084 Note Payable to Related Party 1503635 21166799 X 12600189 80915 80915 12519274 0 12519274 11308944 -5891403 -5891403 17200347 0 17200347 Part X, Line 2: MCINC is organized as a nonprofit corporation under the general nonprofit corporation laws of the State of California and is exempt from federal income taxation under IRC section 501(c)(3). MCINC is classified as a supporting organization under IRC section 509(a)(3). Nonprofit organizations are generally not liable for taxes on income; therefore, no provision is made for such taxes in the financial statements, in accordance with U.S. GAAP. MCINC considers many factors when evaluating and estimating its tax positions and tax benefits, which may require periodic adjustments and which may not accurately anticipate actual outcomes. MCINC evaluates its uncertain tax positions using the provisions in conformity with U.S. GAAP. These standards require management to perform an evaluation of all income tax positions taken, or expected to be taken in the course of preparing MCINC's tax returns. Management believes the tax positions taken more likely than not will be sustained under examination by the applicable tax authorities. Examples of tax positions include the tax-exempt status of MCINC and various positions related to the potential sources of unrelated business taxable income. Since tax matters are subject to some degree of uncertainty, there can be no assurance that the taxing authorities will not challenge MCINC's tax returns, or that MCINC will not be subject to additional tax, penalties, and interest as a result of such challenge. Generally, MCINC's tax returns remain open for three years for federal tax examination and four years for state tax examination. Part XI, Line 2d - Other Adjustments: Change in Interest in related parties' net assets 80,915. Part XII, Line 2d - Other Adjustments: change in obligation to provide future services/facilities -5,891,403. X X X X X 0 0 0 0 0 0 0 1 0 James Rothrock President & CEO 0 411328 0 300 0 18438 0 27825 0 12397 0 470288 0 0 Stacie Ocampo VP Human Resources 0 202167 0 12690 0 18325 0 12630 0 9809 0 255621 0 0 Terry Quigley VP Operations & COO 0 304652 0 27400 0 19290 0 21925 0 6300 0 379567 0 0 Barbara Calderone VP Risk Management & Education 0 182674 0 13800 0 19290 0 10304 0 11051 0 237119 0 0 David Weidert Executive Director 175558 0 0 0 19063 0 8683 0 6141 0 209445 0 0 0 Part I, Line 7 THE ORGANIZATION PAID MARKETING INCENTIVES BASED ON OCCUPANCY. THE ORGANIZATION ALSO PROVIDED A FINANCIAL INCENTIVE FOR KEY LEADERSHIP TO IMPROVE OPERATIONAL PERFORMANCE, RESIDENT SATISFACTION, EMPLOYEE SATISFACTION, QUALITY OF CARE AND PURSUE INNOVATION. A Los Angeles County Regional Financing Authority 956000927 397150866 2014-06-01 44805000 Project Financing 0 0 0 A 44805000 3652081 2883773 1562139 36707007 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 A 1 Form 990, Part VI, Section A, line 6 Montecedro, Inc. is a california nonprofit public benefit corporation organized with a sole controlling member, episcopal communities & Services for seniors, a california non-profit public benefit corporation. Form 990, Part VI, Section A, line 7a The sole member of Montecedro Inc. has the right to elect the Board of Directors as well as appoint the Chief Executive Officer. Form 990, Part VI, Section A, line 7b The sole member of the MonteCedro, Inc. has reserved the right to make all high level governance decisions such as approval of indebtedness, real property transactions, mission and long ranging planning, as well as the appointment of independent auditors and corporate counsel. Form 990, Part VI, Section B, line 11b The Form 990 is prepared by an outside CPA firm and presented to the Board of Directors. The Board of Directors review the Form 990 and approve the filing. Form 990, Part VI, Section B, line 12c At least annually, the Audit Committee examines completed conflict of interest statements and recommends to the Board any action needed to comply with legal requirements or foundation policy regarding conflicts of interest. Form 990, Part VI, Section B, line 15 THE COMPENSATION OF THE PRESIDENT/CEO AND CFO IS ESTABLISHED BY A RELATED ORGANIZATION, EPISCOPAL COMMUNITIES & SERVICES FOR SENIORS (ECS). ECS USED ALL OF THE FOLLOWING IN ESTABLISHING COMPENSATION: GOVERNANCE COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, FORM 990 OF OTHER ORGANIZATIONS, WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR GOVERNANCE COMMITTEE. Form 990, Part VI, Section C, line 18 The organization's Form 990 is available upon request, at the attorney general's website, and on GuideStar. Form 990, Part VI, Section C, line 19 The Form 990 is available upon request and at the Attorney General's website. The Governing/Organization documents, financial statements, and written conflict of interest policy are also available upon request. Form 990, Part XI, line 9: Change in Interest in related parties' net assets 80,915. Transfer of Net Assets from ECS, net 59,199. change in obligation to provide future services/facilities 5,891,403. Episopal Communities & Services for Seniors 605 E Huntington Drive Suite 207 Monrovia CA 91016 951642373 Promotes health & well being of older adults thru care, services & housing. CA 501(c)(3) Line 11 N/A 0 Creative Housing & Services 605 E Huntington Drive Suite 207 monrovia CA 91016 330204306 Provides services to affordable senior and disable housing. CA 501(c)(3) Line 11 Episcopal Communities & Services for Seniors 0 Sophie Miller Foundation 605 E Huntington Drive Suite 207 monrovia CA 91016 471102014 Supports vibrant community for seniors through benevolence and innovation. CA 501(c)(3) Line 12a, I episcopal Communities & Services for Seniors 0 0 1 1 0 1 0 0 0 0 0 0 0 1 0 1 1 1 0 0