2018-02-26T10:30:37-06:00 2017-05-31 593070669 MOORE STEPHENS LOVELACE PA 255 S ORANGE AVENUE SUITE 600 ORLANDO FL 32801 990 2016-06-01 592774476 MORSELIFE FOUNDATION INC MORS 5616875753 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 HONG CHAE SENIOR VICE PRESIDENT/CFO 5616875753 2018-02-23 1 KURT A ALTER CPA P00059492 4077405400 64.132.121.122 2018-02-23 12:01:23 ES P A6970DBB2853E0D2E5FB43C562937A4824D79D77 A6970DBB2853E0D2E5FB43C562937A4824D79D77 2016 2021-01-29 14:40:06Z KEITH A MYERS 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 28989905 0 X WWW.MORSELIFE.ORG X 1987 FL THE MORSELIFE FOUNDATION WAS ORGANIZED EXCLUSIVELY FOR CHARITABLE, EDUCATION AND SCIENTIFIC PURPOSES TO SUPPORT AND ENCOURAGE HEALTH CARE SERVICES THROUGH PROVIDING FINANCIAL AND MANAGEMENT ASSISTANCE TO MORSELIFE HEALTH SYSTEM, INC. AND ITS AFFILIATES. THE FOUNDATION FULFILLS THIS PURPOSE BY:- SUPERVISING AND CONDUCTING FUNDRAISING FOR CAPITAL EXPANSION OF THE MORSELIFE ENTITIES- RAISING AND MANAGING ENDOWMENT FUNDS FOR THE BENEFIT OF MORSELIFE ENTITIES- PROVIDING INVESTMENT ADVISORY SERVICES TO MORSELIFE ENTITIES- PERFORMING PUBLIC RELATIONS WORK ON BEHALF OF MORSELIFE ENTITIES 10 9 8 10 0 0 9110836 4253553 0 0 2877539 1657624 0 0 11988375 5911177 14241818 4616084 0 0 1066972 1265743 0 0 931431 3803204 2590498 19111994 8472325 -7123619 -2561148 36959753 38294511 19082980 21518367 17876773 16776144 X TO SOLICIT, RECEIVE AND INVEST THE PROCEEDS OF GRANTS, CONTRIBUTIONS, PLEDGES, AND OTHER SUPPORT FROM GOVERNMENTAL ENTITIES AND THE PUBLIC AT LARGE, AND TO SUPPORT ALL AFFILIATED AGENCIES WHOSE SOLE MEMBER IS MORSELIFE HEALTH SYSTEM, INC., FOR THE PURPOSE OF ENHANCING SENIOR LIVING IN THE SPIRIT OF JEWISH TRADITION. 0 0 6346222 4616084 0 THE ORGANIZATION SOLICITS AND COLLECTS FUNDS FOR THE BENEFIT OF ITS AFFILIATED TAX-EXEMPT ENTITIES. THE FUNDS ARE GIVEN TO THE AFFILIATES IN SUPPORT OF THEIR TAX-EXEMPT PURPOSE OF PROVIDING SENIOR LIVING ACCOMODATIONS AND HEALTH SERVICES. 6346222 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 19 0 1 8 1 0 0 0 0 0 0 0 0 0 0 X 10 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X X RANDY T WOLAN 5612096108 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 ARTHUR LORING PRESIDENT 2.00 0.00 X X 0 0 0 ROY APPLE VICE PRESIDENT 2.00 0.00 X X 0 0 0 RICHARD ROTHSCHILD SECRETARY 2.00 0.00 X X 0 0 0 MITCHELL RUBENSTEIN TREASURER 2.00 0.00 X X 0 0 0 KEITH MYERS PRESIDENT/CEO 12.00 28.00 X X 694615 1745090 17458 HOWARD GANEK DIRECTOR 2.00 0.00 X 0 0 0 STANLEY KATZ DIRECTOR 2.00 0.00 X 0 0 0 FRANCINE KITTREDGE DIRECTOR 2.00 0.00 X 0 0 0 MICHAEL MARGOLIS DIRECTOR 2.00 0.00 X 0 0 0 TERRI SRIBERG DIRECTOR 2.00 0.00 X 0 0 0 HONG CHAE SR VP OF FINANCE/CFO 8.00 32.00 X 0 735335 27578 MARY ALICE PAPPAS SR VP OF FOUNDATION 40.00 0.00 X 375245 0 31823 1069860 2480425 76859 2 0 1 0 WILESMITH ADVERTISING DESIGN 319 CLEMATIS ST 710 WEST PALM BEACH FL 33401 ADVERTISING SERVICES 162527 1 4253553 41380 4253553 403377 403377 24332975 23056207 22521 1276768 -22521 1254247 1254247 5911177 0 0 1657624 4616084 4616084 1175996 587998 587998 25119 20744 4375 22934 21706 1228 41694 41348 346 463039 463039 27651 27651 22098 22098 393490 393490 139775 139775 251483 82169 356 168958 27922 184 27738 57075 57075 39461 39461 110402 110402 762952 762952 60832 60832 44394 44394 SPECIAL EVENTS 172055 172055 RECRUITING 15449 15449 DUES AND MEMBERSHIPS 2420 2420 8472325 6346222 1194672 931431 1002755 2215583 12713506 10445755 156381 143598 1063031 228941 879041 834090 21828329 24332975 379741 322510 36959753 38294511 361110 356204 18721870 21162163 19082980 21518367 X 14914539 14102748 2132234 1843396 830000 830000 17876773 16776144 36959753 38294511 X -2561148 1210519 250000 X X 0 1 X 1 0 X 4795611 7123728 6252088 9110836 4253553 31535816 4795611 7123728 6252088 9110836 4253553 31535816 2602709 28933107 655792 730278 523485 314985 403377 2627917 34163733 0.84690 0.82060 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1109411 55031 9609 129341 1044710 2473029 23496 20987 1408101 1109411 2318302 32376 37046 -85305 2473029 1488115 1039622 12136 221571 2318302 1516169 43600 6021 77675 1488115 0.79450 0.20550 0 0 25471 17100 8371 1037560 211841 825719 834090 CASH AND CASH EQUIVALENTS 1781216 F U.S. GOVERNMENT OBLIGATIONS 1393969 F CORPORATE BONDS 2045536 F MANAGED EQUITY FUNDS 19062254 F FOREIGN BONDS 50000 F 24332975 ANNUITIES PAYABLE 1073484 DUE TO/FROM AFFILIATES 162736 NOTES PAYABLE TO AFFILIATES 19925943 21162163 7121696 1210519 1210519 5911177 0 5911177 8472325 0 8472325 0 8472325 PART V, LINE 4: THE FOUNDATION'S SPENDING POLICY OBJECTIVE IS TO ALLOW ITS ENDOWMENT TO GROW AND PROVIDE FUTURE CASH FLOWS FOR OPERATIONS AND OTHER DESIGNATED PURPOSES. 1 LOLA & SAUL KRAMER SENIOR SERVICES AGENCY INC 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 900730105 501(C)(3) 452128 TO PROVIDE FUNDING FOR THE MITZVAH, MEALS ON WHEELS, AND OTHER COMMUNITY PROGRAM. THE FUNDING WAS FROM RESTRICTED CONTRIBUTIONS HELD BY THE FOUNDATION FOR THE PURPOSE OF FUNDING THESE TWO PROGRAMS. THE TRADITIONS OF THE PALM BEACHES INC 4920 LORING DRIVE WEST PALM BEACH FL 33417 650888855 501(C)(3) 3442555 TO PROVIDE FUNDING OF $3,300,000 TOWARDS CONSTRUCTION PROJECT. THE REMAINING BALANCE IS FOR RELIGIOUS AND EDUCATIONAL PROGRAMS FOR THE RESIDENTS AND EMPLOYEES OF THE AFFILIATED ENTITY. PROGRAM EXPENSE IS SUPPORTED WITH THE EXPENSE DETAIL OBTAINED FROM THE GRANTEE'S FINANCIAL RECORDS.TO PROVIDE FUNDING OF $3,300,000 TOWARDS CONSTRUCTION PROJECT. THE REMAINING BALANCE IS FOR RELIGIOUS AND EDUCATIONAL PROGRAMS FOR THE RESIDENTS AND EMPLOYEES OF THE AFFILIATED ENTITY. PROGRAM EXPENSE IS SUPPORTED WITH THE EXPENSE DETAIL OBTAINED FROM THE GRANTEE'S FINANCIAL RECORDS. JOSEPH L MORSE HEALTH CENTER INC 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 592120896 501(C)(3) 654168 TO PROVIDE FUNDING FOR RELIGIOUS AND EDUCATIONAL PROGRAMS FOR THE RESIDENTS AND EMPLOYEES OF THE AFFILIATED ENTITY. PROGRAM EXPENSE IS SUPPORTED WITH THE EXPENSE DETAIL OBTAINED FROM THE GRANTEE'S FINANCIAL RECORDS. MORSELIFE HOMECARE INC 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 592753822 501(C)(3) 50102 TO PROVIDE FUNDING FOR HOME CARE SERVICES TO INDIGENT INDIVIDUALS IN THE COMMUNITY. THE CHILDREN'S PLACE AT HOME SAFE INC 2840 6TH AVENUE LAKE WORTH FL 33461 591935485 501(C)(3) 11000 TO PROVIDE MISSION AND EVENT SUPPORT PART I, LINE 2: THE GRANT FUNDS ARE PROVIDED TO RELATED PARTIES IN WHICH THE MANAGEMENT OFFICIALS ARE THE SAME AS THE FILING ORGANIZATION. THE MONIES ARE USED FOR THEIR INTENDED PURPOSES AS REPORTED WITHIN SCHEDULE I, PART II. X X X X X 0 1 0 0 0 0 0 1 0 KEITH MYERS PRESIDENT/CEO 360000 840000 334615 781819 0 123271 0 3839 0 13619 694615 1762548 0 0 HONG CHAE SR VP OF FINANCE/CFO 0 686361 0 1050 0 47924 0 10237 0 17341 0 762913 0 0 MARY ALICE PAPPAS SR VP OF FOUNDATION 360372 0 1100 0 13773 0 22141 0 9682 0 407068 0 0 0 PART I, LINE 4B MORSELIFE HEALTH CENTER, INC. MAINTAINS TWO NONQUALIFIED EMPLOYEE DEFERRED COMPENSATION PLANS OPEN TO CERTAIN KEY EMPLOYEES UNDER INTERNAL REVENUE CODE 457(B) AND SECTION 457(F) (COLLECTIVELY, THE 457 PLANS). THE 457 PLANS PROVIDE, AMONG OTHER THINGS, FOR VOLUNTARY CONTRIBUTIONS TO BE MADE BY ELIGIBLE PARTICIPANTS. THESE FUNDS REMAIN THE PROPERTY OF MORSELIFE HEALTH CENTER, INC. AND SUBSIDIARIES. MORSELIFE HEALTH, INC. AND SUBSIDIARIES HAVE A FIDUCIARY DUTY OF ACCOUNTABILITY FOR THESE FUNDS. KEY EXECUTIVE, KEITH MYERS, PARTICIPATES IN THE DEFERRED COMPENSATION PLAN UNDER IRC SEC. 457(F). JOSEPH L. MORSE HEALTH CENTER, INC. MADE CONTRIBUTIONS ON BEHALF OF KEITH MYERS TO THE PLAN IN THE AMOUNT OF $50,000 FOR THE YEAR ENDED DECEMBER 31, 2016. JOSEPH L. MORSE HEALTH CENTER, INC. MADE CONTRIBUTIONS ON BEHALF OF THE FOLLOWING LISTED EMPLOYEES THAT PARTICIPATED IN THE DEFERRED COMPENSATION PLAN UNDER IRC SEC. 457(B). CHAE, HONG - $1,237. MYERS, KEITH - $3,839. PAPPAS, MARY ALICE - $15,000. PART I, LINE 6 KEITH MYERS, PRESIDENT AND CEO, HAS AN INCENTIVE/BONUS CLAUSE IN HIS EMPLOYMENT AGREEMENT WITH MORSELIFE HEALTH SYSTEM, INC. (A RELATED ORGANIZATION). PART I, LINE 7 KEITH MYERS, PRESIDENT AND CEO, HAS AN INCENTIVE/BONUS CLAUSE IN HIS EMPLOYMENT AGREEMENT WITH MORSELIFE HEALTH SYSTEM, INC. (A RELATED ORGANIZATION). THE INCENTIVE/BONUS IS BASED ON INDIVIDUAL PERFORMANCE, AS APPROVED BY THE BOARD OF DIRECTORS. X 3 41380 FAIR MARKET VALUE 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 MORSELIFE HEALTH SYSTEM, INC. IS THE SOLE MEMBER OF THE MORSELIFE FOUNDATION, INC. FORM 990, PART VI, SECTION A, LINE 7A THE SOLE MEMBER, MORSELIFE HEALTH SYSTEM, INC., SHALL ELECT BOARD MEMBERS AND AT ANY TIME IN ITS SOLE DISCRETION, REMOVE AND NAME A REPLACEMENT FOR ANY BOARD MEMBER. FORM 990, PART VI, SECTION A, LINE 7B MORSELIFE HEALTH SYSTEM, INC. IS THE SOLE MEMBER OF THE MORSELIFE FOUNDATION, INC. AND, AS SUCH, ELECTS THE BOARD OF DIRECTORS AND HAS ULTIMATE VOTING AND VETO AUTHORITY OVER BOARD DECISIONS. FORM 990, PART VI, SECTION B, LINE 11B AN AUDIT, COMPLIANCE AND ETHICS COMMITTEE, COMPOSED OF THE CHAIRPERSON OF THE BOARD OF DIRECTORS FROM EACH OF THE MORSELIFE RELATED ORGANIZATIONS AND THE SENIOR VICE PRESIDENT OF FINANCE, IS RESPONSIBLE FOR THE REVIEW OF THE FORM 990. THE CHAIRPERSON OF MORSELIFE HEALTH SYSTEM, INC. IS THE CHAIRPERSON OF THE COMMITTEE. THIS COMMITTEE MEETS WITH THE OUTSIDE, INDEPENDENT AUDITORS A MINIMUM OF TWO TIMES PER YEAR. IT APPROVES THE AUDITED FINANCIAL STATEMENTS AND REVIEWS COMPLIANCE RELATED MATTERS ON A QUARTERLY BASIS. THE COMMITTEE IS RESPONSIBLE FOR THE DETAILED REVIEW OF ALL FORMS 990 FILED BY THE MORSE RELATED ENTITIES. THE FORM 990 IS MADE AVAILABLE TO THE FULL BOARD OF DIRECTORS OF THE REPORTING ORGANIZATION. THE 990 IS ALSO AVAILABLE UPON REQUEST THROUGHOUT THE YEAR. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REQUIRES ALL BOARD MEMBERS TO SUBMIT A CONFLICT OF INTEREST STATEMENT ON AN ANNUAL BASIS. THE STATEMENTS, WHEN COMPLETED AND RETURNED, ARE REVIEWED BY THE PRESIDENT TO ENSURE THAT THERE ARE NO INADVERTENT CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 MORSELIFE FOUNDATION, INC. IS AN ORGANIZATION CONTROLLED BY MORSELIFE HEALTH SYSTEM, INC. MORSELIFE HEALTH SYSTEM, INC.'S COMPENSATION COMMITTEE IS COMPRISED OF THE BOARD MEMBERS. THIS COMMITTEE IS RESPONSIBLE FOR THE SEARCH, SELECTION, CONTRACT NEGOTIATION, PERFORMANCE REVIEWS, BENEFITS, AND ANNUAL SALARY INCREASES OF THE PRESIDENT & CEO POSITION. THE INITIAL CONTRACT NEGOTIATIONS OF THE PRESIDENT & CEO POSITION WERE BASED ON THE COMMITTEE'S REVIEW OF SIMILAR ENTITIES' COMPENSATION PACKAGES FOR THE TOP OFFICIAL BASED ON THOSE ENTITIES PUBLISHED IRS FORM 990. IN ADDITION, THE COMPENSATION COMMITTEE SUBSCRIBES TO AND PARTICIPATES IN SEVERAL INDEPENDENT SALARY SURVEYS CONDUCTED BY NATIONAL ASSOCIATIONS & OTHER PROVIDER ENTITIES AND UTILIZES THE FINDINGS OF THESE SURVEYS TO ENSURE COMPARABILITY AND APPROPRIATENESS OF THE PRESIDENT/CEO COMPENSATION PACKAGE. THE COMMITTEE MEETS AT LEAST ANNUALLY TO CONDUCT A PERFORMANCE REVIEW OF THE PRESIDENT/CEO. PERFORMANCE IS BASED ON PREVIOUSLY ESTABLISHED METRICS AND BENCHMARKS AND THE ACHIEVEMENT OF THESE GOALS IS THE BASIS FOR FINANCIAL INCENTIVE, BONUS AND ANNUAL SALARY INCREASE. THE COMPENSATION COMMITTEE DOCUMENTS THEIR MEETINGS WITH WRITTEN MINUTES AS WELL AS MEMOS TO THE SENIOR VICE PRESIDENT OF FINANCE, WITH INSTRUCTIONS REGARDING THE EXECUTIVE COMPENSATION. THE PRESIDENT & CEO OF THE ORGANIZATION IS RESPONSIBLE FOR THE COMPENSATION OF THE MEMBERS OF THE EXECUTIVE TEAM, INCLUDING THE SENIOR VICE PRESIDENTS AND CHIEF FINANCIAL OFFICER. ANNUAL INCREASES AND BASE SALARY AMOUNTS ARE COMPARED TO THE COMPENSATION PACKAGES FOR SIMILAR POSITIONS UTILIZING OTHER SIMILAR ENTITIES' PUBLISHED IRS FORM 990. IN ADDITION, INDEPENDENT SALARY SURVEYS CONDUCTED BY NATIONAL ASSOCIATIONS & OTHER PROVIDER ENTITIES ARE UTILIZED TO ENSURE COMPARABILITY AND APPROPRIATENESS. THE PRESIDENT & CEO REPORTS ON THE ANNUAL INCREASE, SALARY ADJUSTMENT, AND/OR CHANGE IN BENEFIT PACKAGE FOR THE EXECUTIVE TEAM MEMBERS TO THE COMPENSATION COMMITTEE MADE UP OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: TRANSFER OF NET ASSETS 250,000. FORM 990, PART XII, LINE 2C OVERSIGHT OF AUDIT AND SELECTION OF INDEPENDENT ACCOUNTANT. THE ORGANIZATION'S AUDIT, COMPLIANCE AND ETHICS COMMITTEE IS RESPONSIBLE FOR THE SELECTION, MONITORING AND EVALUATION OF AN INDEPENDENT ACCOUNTING FIRM AND OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS. THERE WAS NO CHANGE IN THIS PROCESS FROM THE PRIOR YEAR. FORM 990, PART XI, LINE 9 TRANSACTION WITH AFFILIATE: THE FOUNDATION ALSO RECEIVED A $250,000 EQUITY TRANSFER FROM MORSELIFE HOME CARE INC. FOR THE PURPOSE OF PROVIDING A GRANT TO THE LOLA AND SAUL KRAMER SENIOR SERVICES AGENCY, INC. THE TRADITION OF THE PALM BEACHES INC 4920 LORING DRIVE WEST PALM BEACH FL 33417 650888855 OPERATES A SENIOR LIVING COMMUNITY WITH FULL HEALTH SERVICES. FL 501(C)(3) LINE 10 MORSELIFE HEALTH SYSTEM INC 0 NEARLY NEW THRIFT SHOP OF MORSE GERIATRIC INC 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 592533256 RAISES FUNDS TO SUPPORT AFFILIATED TAX-EXEMPT ENTITIES. FL 501(C)(3) LINE 12B, II MORSELIFE HEALTH SYSTEM INC 0 MORSELIFE HEALTH SYSTEM INC 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 650018299 PROVIDES HEALTH CARE, HOUSING AND SUPPORT SERVICES TO SENIORS. FL 501(C)(3) LINE 12C, III-FI N/A 0 JOSEPH L MORSE HEALTH CENTER INC 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 592120896 OWNS AND OPERATES SKILLED NURSING FACILITY. FL 501(C)(3) LINE 10 MORSELIFE HEALTH SYSTEM INC 0 LOLA & SAUL KRAMER SENIOR SERVICES AGENCY INC 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 900730105 PROVIDES COMMUNITY-BASED SERVICES TO SENIORS FL 501(C)(3) LINE 10 MORSELIFE HEALTH SYSTEM INC 0 FRIENDS OF MORSELIFE INC 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 650329966 RAISES FUNDS TO SUPPORT AFFILIATED TAX-EXEMPT ENTITIES. FL 501(C)(3) LINE 7 MORSELIFE HEALTH SYSTEM INC 0 MORSELIFE HOME CARE INC 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 592753822 PROVIDES HOME HEALTH AND OTHER SERVICES TO SENIORS FL 501(C)(3) LINE 10 MORSELIFE HEALTH SYSTEM INC 0 MORSELIFE THERAPY CORPORATION 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 800730376 PROVIDES THERAPY SERVICES TO SENIORS. FL 501(C)(3) LINE 10 MORSELIFE HOME CARE INC 0 0 1 0 1 1 0 0 0 0 0 1 1 1 1 1 1 1 0 0