2018-10-01T12:38:21-05:00 2017-12-31 222428965 CITRIN COOPERMAN & COMPANY LLP TEN WEYBOSSET STREET - SUITE 700 PROVIDENCE RI 02903 990 2017-01-01 050510787 OCEAN STATE ASSISTED LIVING OCEA 4018849099 5 SAINT ELIZABETH WAY EAST GREENWICH RI 02818 LAURIE ANN OLIVEIRA ADMINISTRATOR 4018849099 2018-09-14 1 MICHAEL E CRISCIONE P01456801 4014214800 2017 2022-09-23 18:48:47Z THE SEASONS EAST GREENWICH LAURIE ANN OLIVEIRA 5 SAINT ELIZABETH WAY EAST GREENWICH RI 02818 5723216 0 X THESEASONS.ORG X 2000 RI ASSISTED LIVING COMMUNITY AND DEMENTIA CARE RESIDENCES. 7 7 86 9 0 0 15997 1312 5278031 5192235 52748 140608 0 5189 5346776 5339344 0 0 0 0 1992177 1969576 0 0 0 3247120 3257514 5239297 5227090 107479 112254 10187246 10191208 9991238 9629061 196008 562147 THE MISSION OF THE ORGANIZATION 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 4821527 5192235 PROVIDING QUALITY CARE WITH 66 TRADITIONAL ASSISTED LIVING APARTMENTS AND 20 DEMENTIA CARE RESIDENCES. 4821527 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 12 0 1 86 1 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 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 88711 0 2000 88711 0 2000 0 0 0 0 MORRISON MANAGEMENT SPECIALISTS PO BOX 102289 ATLANTA GA 30368 FOOD/DINING, MAINTENANCE, HOUSEKEEPING 1464481 1 838 474 1312 TENANT RENTS 623000 4847579 4847579 ANCILLARY SERVICES 623000 344656 344656 5192235 62040 62040 446076 364637 2871 81439 -2871 78568 78568 21553 838 16364 5189 5189 5339344 5192235 0 145797 X 88711 44355 44356 1549318 1342550 206768 18373 15579 2794 162748 137989 24759 150426 127543 22883 13199 13199 17390 17390 15500 15500 1659601 1659601 71218 71218 10026 10026 33308 33308 470970 470970 18746 14315 4431 5196 5196 193061 193061 553991 553991 141068 138652 2416 ADMINISTRATIVE 54240 54240 5227090 4821527 405563 0 1032349 1155931 3941 17799 41286 51182 13651740 7546750 6542598 6104990 2481191 2799239 85881 62067 10187246 10191208 350562 402060 9500000 9135000 140676 92001 9991238 9629061 X 182212 562147 13796 0 196008 562147 10187246 10191208 X 112254 190176 63709 X X 0 1 X 1 0 X 27742 50989 40862 15997 1312 136902 5319625 5313505 5649544 5278031 5192235 26752940 5347367 5364494 5690406 5294028 5193547 26889842 0 0 0 26889842 58813 56138 55560 56958 62040 289509 58813 56138 55560 56958 62040 289509 5406180 5420632 5745966 5350986 5255587 27179351 0.98930 0.98960 0.01070 0.01040 X 12487157 6749172 5737985 196955 53250 143705 715469 532870 182599 252159 211458 40701 6104990 DEPOSITS 92001 92001 X 5577729 190176 63709 253885 5323844 15500 15500 5339344 5211590 0 5211590 15500 15500 5227090 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 63,709. WINE TASTING 22391 838 21553 3538 525 12301 22391 838 21553 3538 525 12301 16364 5189 A RHODE ISLAND HEALTH AND EDUCATIONAL BUILDING CORP NONEAVAIL 2011-10-03 11010000 REFUND A PRIOR ISSUE; FACILITY CONSTRUCTION 0 0 0 A 1875000 11010000 101669 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 6 OSAL IS ORGANIZED AS A NON-STOCK, NON-PROFIT CORPORATION WITH 2 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 THE ORGANIZATION'S GOVERNANCE. FORM 990, PART VI, SECTION A, LINE 7A OSAL IS GOVERNED BY A SEVEN-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 THE ORGANIZATION'S BY-LAWS INCLUDE A LIST OF DECISIONS THAT NEED TO BE APPROVED BY THE MEMBERS. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE ANY ACTIVE COMMITTEES. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION'S BOARD OF DIRECTORS REVIEWS AND APPROVES THE FORM 990 PRIOR TO ISSUANCE. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS AND SENIOR MANAGERS OF THE ORGANIZATION ARE REQUIRED TO SUBMIT ANNUAL DISCLOSURE STATEMENTS IN ACCORDANCE WITH THE ORGANIZATION'S CONFLICT OF INTEREST POLICY. ANY POTENTIAL CONFLICTS OF INTEREST THAT MAY ARISE PERIODICALLY MUST BE DISCLOSED TO THE BOARD. TO ENSURE THAT THE ORGANIZATION 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 THE ORGANIZATION'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 THE ORGANIZATION'S LOCATION. FORM 990, PART IX, LINE 11G CONTRACTED DINING, HOUSEKEEPING AND MAINTENANCE: PROGRAM SERVICE EXPENSES 1,165,117. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,165,117. FOOD: PROGRAM SERVICE EXPENSES 331,766. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 331,766. OTHER RESIDENT RELATED COST: PROGRAM SERVICE EXPENSES 128,090. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 128,090. MISCELLANEOUS: PROGRAM SERVICE EXPENSES 19,785. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 19,785. BANK FEES AND SERV. CHARGES: PROGRAM SERVICE EXPENSES 14,843. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 14,843. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF INTEREST RATE SWAP 63,709. FORM 990, PART XII, LINE 2C THERE HAVE BEEN NO CHANGES FROM THE PRIOR YEAR IN THE METHODS USED BY THE COMMITTEE RESPONSIBLE FOR OVERSIGHT OF THE AUDIT OF THE FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT.