2017-11-14T05:55:57-06:00 2016-12-31 131517563 LOEB & TROPER LLP 655 THIRD AVENUE 12TH FLOOR NEW YORK NY 10017 990 2016-01-01 133603516 Fund for the Aged Inc FUND 2128705000 120 West 106th Street New York NY 10025 Elliot J Hagler CFO 2128705000 2017-11-13 1 Aaron Shapiro P01333816 2128674000 38.98.118.70 2017-11-13 11:11:49 ES P D7076C0EC39B17C3336BFEA465ABF20A32036F2A 73A2BDB4DEE3E1301F7FB9DCBA9193E2BC5F7900 2016 2017-02-10 21:41:12Z Elliot J Hagler 120 West 106th Street New York NY 10025 139441054 0 X www.jewishhome.org X 1991 NY Fund for the Aged, Inc. was established to enable excellence in the provision of care for the elderly. It. is the fundraising entity for Jewish Home Lifecare (d.b.a The New Jewish Home). 7 6 30 6 -130196 -130196 8227333 3932053 0 0 3477403 3510934 -124639 -76596 11580097 7366391 6788720 4880698 0 0 2024534 1584512 11000 37139 2150549 4942016 1172932 13766270 7675281 -2186173 -308890 79369270 133286152 1404391 1755164 77964879 131530988 X Fund for the Aged, Inc. (d/b/a Jewish Home and Hospital Foundation) (the "Foundation") was established to enable excellence in the provision of care for the elderly. It is the fundraising entity for Jewish Home Lifecare. In addition to attracting funds for a myriad of capital projects, Jewish Home Lifecare relies on the generosity of its supporters for important enrichment programs for elders as well as to support research, employee recognition, mentoring for caregivers and educational programs. The Foundation also funds the development efforts of Jewish Home Lifecare. The Foundation is funded primarily by contributions from the general public, foundations, and government grants. 0 0 4880698 4880698 The Foundation creates meaningful philanthropic partnerships with individual donors, foundations, corporations, and agencies. Donations fund a wide array of programs including but not limited to palliative care, research, volunteer support, intergenerational youth programs, technology initiatives, dining assistance, and religious life programming. 4880698 1 1 0 1 0 0 0 0 0 1 1 1 0 0 1 1 1 1 0 0 1 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 22 0 30 1 1 1 0 0 0 0 1 1 0 0 0 0 X 7 6 0 1 1 0 1 1 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 NY X Elliot Hagler 2128705973 120 West 106th Street New York NY 10025 David A Jones Chair 3.00 X X 0 0 0 Gene D Resnick MD Vice President 3.00 X X 0 0 0 Stanley H Pantowich Secretary 3.00 X X 0 0 0 Alan Altschuler Treasurer 3.00 X X 0 0 0 Fred M Lowenfels Director 1.50 X 0 0 0 Elizabeth Grayer Director 1.50 5.25 X 0 0 0 Audrey S Weiner President and CEO 1.00 36.50 X X 18346 2095212 345384 Thomas J Gilmartin Chief Administrative Officer 1.00 36.50 X 4770 514260 188526 Elliot J Hagler Chief Financial Officer 1.00 36.50 X 2329 225645 12192 Jacob Victory Chief Operating Officer 1.00 36.50 X 2328 225645 6634 Gabrielle K Genauer Vice President Legal 1.00 36.50 X 1898 183863 27433 Audrey Wathen Senior VP Human Resources 1.00 36.50 X 3547 343791 29810 Bruce Nathanson Senior VP Marketing 1.00 36.50 X 765 198847 34919 Nancy Stoddard Vice President IT 1.00 36.50 X 2809 272276 50957 Firouzeh Naima Director of Finance 1.00 36.50 X 1918 185866 25631 Regina Melly VP Business Development 1.00 36.50 X 3874 375422 18574 Maryanne Morgan Director of Finance 1.00 36.50 X 1874 181663 34385 Frederic L Bloch Vice President Development 37.50 X 200175 0 25138 Robert Lanfranchi IT Director 1.00 36.50 X 2299 222885 0 Svetlana DeBellis VP Managed Care 1.00 36.50 X 2236 216687 48886 Victoria Izraylevsky Director of Human Resources 1.00 36.50 X 2054 199132 48064 Richard Mato Director of Finance 1.00 36.50 X 1862 180468 0 Elizabeth Weingast VP of Clinical Excellence 1.00 36.50 X 1789 173325 57462 254873 5794987 953995 6 0 1 0 Offit Capital 485 Lexington Avenue 24th Floor New York NY 10017 Investment management 191144 Istithmar Columbus Center LLC 80 Columbus Circle New York NY 10023 Catering Hall space 128309 2 1071999 397801 2462253 109581 3932053 1083905 1083905 134322346 131895317 2427029 2427029 -130196 2557225 102750 1071999 179346 -76596 -76596 7366391 0 -130196 3564534 4880698 4880698 276735 51422 225313 1049020 82906 966114 61737 9943 51794 59574 12120 47454 137446 10360 127086 74075 74075 8485 8485 4782 4782 492 492 37139 37139 322072 322072 186217 186217 73473 73473 187581 187581 16474 16474 3695 3695 Bad debt 36200 36200 Food 12100 12100 247286 113737 133549 7675281 4880698 644034 2150549 1718391 1924244 4924116 3839277 8360033 6556484 20212 12490 7937 7722 33550916 92533507 30474735 28055101 333142 369817 79369270 133286152 264434 215089 1139957 1540075 1404391 1755164 X 26964448 80476556 45486817 45537218 5513614 5517214 77964879 131530988 79369270 133286152 X -308890 -1186439 55061438 X X 0 1 X 1 0 X 9209604 10694719 7357370 8227333 3932053 39421079 9209604 10694719 7357370 8227333 3932053 39421079 3745990 35675089 1105036 961936 1343725 874398 1083905 5369000 44790079 0.79650 0.80350 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 492 0 0 492 0 Part II-B, Line 1: Line 1g refers to expenses that are related to the time spent and travel by CEO. 7822829 3600 160189 -87524 7899094 8227073 11000 -222451 192793 7822829 6835456 30256 1497678 136317 8227073 5973960 211753 721987 72244 6835456 4752392 570794 753674 102900 5973960 0.70000 0.30000 0 0 20212 12490 7722 7722 Corporate and foreign bonds 2148034 F Limited liability companies 9860591 F Limited partnerships 14891086 F Real estate investment trust 263049 F Venture capital funds 892341 F 28055101 Due to related organizations 1108238 Annuity obligations 214060 Pension payable 217777 1540075 X 5798120 -1186439 -23560 -1209999 7008119 322072 36200 358272 7366391 7317009 0 7317009 322072 36200 358272 7675281 Part V, Line 4: The endowment fund is expendable for the following purposes: a. Recreation and resident services b. Medical education and research c. Other elderly needs Part X, Line 2: The Fund for the Aged, Inc. has determined that there are no material uncertain tax positions that require recognition or disclosure in the financial statements. Periods ending December 31, 2013 and subsequent remain subject to examination by applicable taxing authorities. Part XI, Line 2d - Other Adjustments: Change in value of split-interest agreements -23,560. Part XI, Line 4b - Other Adjustments: Bad debt loss 36,200. Part XII, Line 4b - Other Adjustments: Bad debt loss 36,200. Cayman Islands Investments 14887086 0 0 0 0 0 0 14887086 0 14887086 0 0 0 0 0 0 X X X X X X 1 Event Associates Inc 162 West 56th Street Suite 405 New York NY 10019 Gala planner 0 0 37139 -37139 37139 -37139 NY Eight Over Eighty Gala 1174749 1071999 102750 116059 55980 7307 1174749 1071999 102750 116059 55980 7307 179346 -76596 1 Jewish Home Lifecare Manhattan 120 West 106th Street New York NY 10025 131624033 501(c)(3) 2439056 Geriatric care Jewish Home Lifecare Harry and Jeanette Weinberg Campus Bronx 100 West Kingsbridge Road Bronx NY 10468 237071900 501(c)(3) 1043498 Geriatric care JHL Corporate Services Inc 120 West 106th Street New York NY 10025 263385174 501(c)(3) 371158 Management services Jewish Home Lifecare Sarah Neuman Center Westchester 845 Palmer Ave Mamaroneck NY 10543 133620568 501(c)(3) 702209 Geriatric care Kittay House Jewish Home Lifecare Inc 120 West 106th Street New York NY 10025 132619576 501(c)(3) 262936 Housing services Jewish Home Lifecare Home Assistance Personnel Inc 120 West 106th Street New York NY 10025 133267068 N/A 60800 Home care 5 1 Part I, Line 2: Fund for the Aged, Inc. provides resources to the constituent System entities and other organizations that provide multifaceted geriatric services in the New York metropolitan area. The services provided by these constituent entities are set forth in an annual report that provides an integrated overview, as well as a detailed report on the specific services and achievements of each such entity. The organization monitors the grants through set budgets for the departments in the related organizations and reviews the expenses against the budget on a monthly basis. X 1 1 0 1 0 0 0 0 0 1 0 Audrey S Weiner President and CEO 5355 611642 2778 317222 10213 1166348 2837 323926 162 18459 21345 2437597 0 0 Thomas J Gilmartin Chief Administrative Officer 2670 287827 1838 198162 262 28271 1451 156458 281 30336 6502 701054 278 26915 Elliot J Hagler Chief Financial Officer 2315 224319 0 0 14 1326 0 0 125 12067 2454 237712 0 0 Jacob Victory Chief Operating Officer 2325 225336 0 0 3 309 0 0 68 6566 2396 232211 0 0 Gabrielle K Genauer Vice President Legal 1896 183709 0 0 2 154 0 0 280 27153 2178 211016 0 0 Audrey Wathen Senior VP Human Resources 2344 227184 1164 112836 39 3771 170 16469 135 13036 3852 373296 0 0 Bruce Nathanson Senior VP Marketing 757 196876 0 0 8 1971 48 12461 86 22324 899 233632 0 0 Nancy Stoddard Vice President IT 2534 245571 255 24745 20 1960 193 18675 328 31761 3330 322712 0 0 Firouzeh Naima Director of Finance 1905 184589 0 0 13 1277 140 13613 121 11757 2179 211236 0 0 Regina Melly VP Business Development 2590 251016 1277 123723 7 683 0 18386 188 0 4062 393808 0 0 Maryanne Morgan Director of Finance 1714 166133 153 14847 7 683 128 12391 223 21643 2225 215697 0 0 Frederic L Bloch Vice President Development 174109 0 25000 0 1066 0 13071 0 12067 0 225313 0 0 0 Robert Lanfranchi IT Director 2037 197457 255 24745 7 683 0 0 0 0 2299 222885 0 0 Svetlana DeBellis VP Managed Care 2022 195951 209 20291 5 445 151 14632 348 33755 2735 265074 0 0 Victoria Izraylevsky Director of Human Resources 1949 188937 102 9898 3 297 147 14291 343 33283 2544 246706 0 0 Richard Mato Director of Finance 1825 176841 0 0 37 3627 0 0 0 0 1862 180468 0 0 Elizabeth Weingast VP of Clinical Excellence 1654 160270 128 12372 7 683 120 11650 467 45225 2376 230200 0 0 Part I, Line 1a 1) Tax indemnification 2) Audrey S. Weiner 3) The amount was treated as taxable compensation Part I, Line 3 The salaries for the executives are determined by the parent company, Jewish Home Lifecare. The methods utilized include a Compensation Committee, independent compensation consultants, who perform independent compensation studies, and review approval of the recommendations of the Compensation Committee by the board. Part I, Line 4b Audrey S. Weiner participated in a supplemental defined benefit retirement plan. The accrual for the year was $307,913. During 2016, Audrey vested in the plan and as a result $1,166,997 was included in Ms. Weiner's W-2 reportable compensation. Thomas J. Gilmartin participated in a supplemental defined contribution retirement plan. During 2016, Mr. Gilmartin's vesting in the plan resulted in an additional $27,193 of W-2 reportable compensation for Mr. Gilmartin and $139,059 of non-taxable benefit, which is included in retirement and other deferred compensation column in Schedule J. Part I, Line 7 The bonuses are based upon employees achieving goals set at the beginning of the year. The bonus is recommended and approved by the Compensation Committee chaired by the Chair of the Board of Directors of The New Jewish Home. X 11 109581 Sale price of stocks 0 1 0 Part I, Column (b): The organization is reporting the number of contributors. Form 990, Part VI, Section A, line 3 Management responsibilities are fulfilled by administrative personnel employed by a related entity, JHL Corporate Services, Inc. In 2016, costs incurred by JHL Corporate Services, Inc. were allocated to individual Jewish Home Lifecare's entities in accordance with expense-based methodology. The organization periodically reviews the method by which administrative overhead expenses are allocated. Form 990, Part VI, Section A, line 4 The organization amended its by-laws for the number and composition of the board members and the quorum requirements and to ensure consistency in the affiliates' by-laws. Jewish Home Lifecare, parent organization, and its related organizations have filed appropriate authorizations to conduct business under variations of "The New Jewish Home" name. Form 990, Part VI, Section A, line 6 The sole member of the organization is Jewish Home Lifecare, a New York not-for-profit corporation. Form 990, Part VI, Section A, line 7a Jewish Home Lifecare may elect one or more members of the governing body. Form 990, Part VI, Section B, line 11b A draft of the completed return is reviewed by Management. Any comments arising from the review are discussed and if required, changes are made. The draft is submitted to the Audit and Compliance Committee of The New Jewish Home and Subsidiaries for its review and approval. Once the Audit and Compliance Committee completed its review, a copy of the draft return was provided to all board members. Form 990, Part VI, Section B, line 12c Annually all Board members, officers, and key employees are provided a copy of the conflict of interest policy and are asked to review the policy and to disclose any potential or actual conflicts that may have occurred since the last disclosure. The Audit and Compliance Committee of the Board reviews the disclosures as summarized by the Compliance department. All identified conflicts of interest are discussed and either approved or rejected by the Board. If the Board of Directors or the Governance Committee determines that a conflict of interest exists, the Director with the conflict may not take part in the decision process to which the conflict relates. Such disclosure and the fact that the Director did not vote or participate in the deliberations is recorded in the relevant minutes. Form 990, Part VI, Section B, line 15 Annually, the Chairman of the Board of Jewish Home Lifecare, in consultation with the Compensation Committee, reviews and evaluates the President/CEO, officers and key employees' performance against a series of goals and objectives for the year. In establishing compensation levels for the CEO/President, officers and key employees, the Board Chair and the Compensation Committee of the Board use performance and periodic compensation surveys of other similar type organizations, completed by an external consultant, to inform their decisions. Minutes of the meeting are maintained in a confidential file. The meeting of the compensation committee at which this took place was held in May 2016. Form 990, Part VI, Section C, line 19 the governing documents, conflict of interest policy, and financial statements are available to the public upon request. Form 990, Part XI, line 9: Adjustment to pension liability -4,345. Change in value of split-interest agreements -23,560. Transfer from related organizations 55,070,179. Restatement of prior year administrative overhead 19,164. Form 990, Part XII, Line 2c: The Audit and Compliance Committee of the organization has the oversight responsibility for the audit of the organization's financial statements. As part of the financial statement audit process, the Audit and Compliance Committee is responsible to: 1. Select the independent audit firm 2. Review and approve audit scope and fees 3. Oversee the financial reporting process 4. Ensure open communications between management, audit firm, and the Audit and Compliance Committee 5. Review of independent audit firm's annual performance 6. Meet in Executive Session (absent management) with the audit firm to discuss any potential concerns with management's performance Fund for the Aged Holding LLC 120 West 106th Street New York NY 10025 Owns property of two Delaware LLC's NY N/A Jewish Home Lifecare 120 West 106th Street New York NY 10025 133267073 Provides care for the elderly NY 501(c)(3) 12, type I N/A 0 Jewish Home Lifecare Manhattan 120 West 106th Street New York NY 10025 131624033 Provides care for the elderly NY 501(c)(3) 3 Jewish Home Lifecare 0 Jewish Home Lifecare Harry and Jeanette Weinberg Campus Bronx 120 West 106th Street New York NY 10025 237071900 Provides care for the elderly NY 501(c)(3) 10 Jewish Home Lifecare 0 Jewish Home Lifecare Sarah Neuman Center Westchester 845 Palmer Avenue Mamaroneck NY 10543 133620568 Provides care for the elderly NY 501(c)(3) 10 Jewish Home Lifecare 0 Kittay House Jewish Home Lifecare Inc 100 West Kingsbridge Road Bronx NY 10468 132619576 Provides housing to the elderly NY 501(c)(3) 10 Jewish Home Lifecare Harry and Jeanette Weinberg Campus Bronx 0 Lifecare Property Holding Corp 120 West 106th Street New York NY 10025 205945618 Owns property NY 501(c)(2) n/a Jewish Home Lifecare 0 Harry and Jeanette Weinberg Riverdale HouseHousing Development Fund Co Inc 120 West 106th Street New York NY 10025 133865179 Provides subsidized housing for the elderly NY 501(c)(3) 10 Jewish Home Lifecare Harry and Jeanette Weinberg Campus Bronx 0 Kenneth Gladstone Building Housing Development Fund Company Inc 120 West 106th Street New York NY 10025 134078893 Provides subsidized housing for the elderly NY 501(c)(3) 10 Jewish Home Lifecare Harry and Jeanette Weinberg Campus Bronx 0 Harry and Jeanette Weinberg Gardens Housing Development Fund Company Inc 120 West 106th Street New York NY 10468 204981328 Provides subsidized housing for the elderly NY 501(c)(3) 7 Jewish Home Lifecare Harry and Jeanette Weinberg Campus Bronx 0 JHL Corporate Services Inc 120 West 106th Street New York NY 10025 263385174 Management services DE 501(c)(3) 12, type I Jewish Home Lifecare 0 Jewish Home Lifecare Community Services Inc 120 West 106th Street New York NY 10025 270158524 Provides community services NY 501(c)(3) 10 Jewish Home Lifecare 0 156 West 106th Street Holding Corp 120 West 106th Street New York NY 10025 270308650 Owns property NY 501(c)(2) n/a Jewish Home Lifecare 0 Jewish Home Lifecare University Avenue Assisted Living Inc 120 West 106th Street New York NY 10025 273960910 Construction and operation of University Avenue Assisted Living facility DE 501(c)(3) 10 Jewish Home Lifecare 0 Geriatric Career Development Program Inc 120 West 106th Street New York NY 10025 462452619 To operate programs for at-risk youth DE 501(c)(3) 7 Jewish Home Lifecare 0 2614 Kingsbridge corp 120 West 106th Street New York NY 10025 132749776 Provides parking facilities NY N/A C 0 Jewish Home Lifecare Home Assistance Personnel Inc 120 West 106th Street New York NY 10025 133267068 Provides long term home health care NY N/A C 0 JHHA Medical Group PC 120 West 106th Street New York NY 10025 133364558 Provides health care services NY N/A C 0 102 West 107th Street Corp 120 West 106th Street New York NY 10025 132760057 Provides parking facilities NY N/A C 0 Jewish Home Lifecare Spectrum Services Inc 120 West 106th Street New York NY 10025 453563804 Holding company for for-profit affiliates NY N/A C 0 0 1 0 1 0 0 0 0 0 0 1 1 0 0 1 1 0 0 0