2017-05-12T13:28:19-05:00 2016-06-30 951720829 MARTIN WERBELOW LLP 300 N LAKE AVE SUITE 930 PASADENA CA 911014106 990 2015-07-01 270707394 MONTECEDRO INC MONT 6264035400 1111 SOUTH ARROYO PARKWAY NO 230 PASADENA CA 91105 JAMES S ROTHROCK PRESIDENT & CEO 6264035400 2017-04-25 1 ERICH RAIL P00174228 6265771440 2015 2021-01-29 14:40:06Z JAMES S ROTHROCK 1111 S ARROYO PARKWAY STE 230 PASADENA CA 91105 2637244 0 X WWW.MONTECEDRO.ORG X 2009 CA THE ORGANIZATION DEVELOPS AND OPERATES HOUSING SPECIALLY DESIGNED FOR OLDER ADULTS (THE MONTECEDRO), WITH ARRANGEMENTS FOR RESIDENTS' HEALTH CARE AND FINANCIAL SECURITY, AND OTHERWISE TO PROMOTE THE INTEREST AND SERVE THE NEEDS OF OLDER ADULTS, PROVIDED THAT SUCH ACTIVITIES ARE CONSISTENT WITH ITS EXEMPT PURPOSES. 6 5 47 45 0 0 0 0 0 2527698 874125 42541 0 67005 874125 2637244 0 0 0 0 0 2312310 0 0 14366 1901460 11490713 1901460 13803023 -1027335 -11165779 191402676 198921587 152793220 195254619 38609456 3666968 X MONTECEDRO, INC. ("MCINC") DEVELOPS AND OPERATES HOUSING SPECIALLY DESIGNED FOR OLDER ADULTS (THE MONTECEDRO), WITH ARRANGEMENTS FOR RESIDENTS' HEALTH CARE AND FINANCIAL SECURITY, AND OTHERWISE TO PROMOTE THE INTEREST AND SERVE THE NEEDS OF OLDER ADULTS, PROVIDED THAT SUCH ACTIVITIES ARE CONSISTENT WITH ITS EXEMPT PURPOSES. 0 0 12444281 2594703 MCINC WAS CREATED TO DEVELOP AND OPERATE HOUSING SPECIALLY DESIGNED FOR OLDER ADULTS, WITH ARRANGEMENTS FOR RESIDENTS' HEALTH CARE AND FINANCIAL SECURITY, AND OTHERWISE TO PROMOTE THE INTEREST AND SERVE THE NEEDS OF OLDER ADULTS. 12444281 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 30 0 1 47 1 0 0 0 0 0 0 0 0 X 6 5 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X X THE ORGANIZATION 6264035400 1111 SOUTH ARROYO PARKWAY NO 230 PASADENA CA 91105 ROBERT A LONG DIRECTOR/CHAIR 3.00 X X 0 0 0 RON APEL UNTIL DEC 2015 DIRECTOR/VICE CHAIR 1.00 X X 0 0 0 JENNIFER DEVOLL UNTIL DEC 2015 DIRECTOR/SECRETARY 1.00 X X 0 0 0 ALLEN MATHIES DIRECTOR/VICE CHAIR/TREASURER 1.00 X X 0 0 0 MARTHA TAMBURRANO UNTIL DEC 2015 PRESIDENT/CEO 10.00 30.00 X X 0 473875 34166 JAMES ROTHROCK FROM JAN 2016 PRESIDENT/CEO 10.00 30.00 X X 0 327428 34774 BEN LEMON FROM JAN 2016 DIRECTOR/SECRETARY 1.00 X X 0 0 0 TIM HARTLEY FROM JAN 2016 DIRECTOR 1.00 X 0 0 0 GWEN WHITSON FROM JAN 2016 DIRECTOR 1.00 X 0 0 0 REUBEN GRIGORIANS 9115 TO 1816 VP OF FINANCE & CFO 10.00 30.00 X 0 72241 0 GREGORY BEARCE UNTIL 71015 VP OPERATIONS 8.00 32.00 X 0 379376 23893 STACIE OCAMPO VP HUMAN RESOURCES 8.00 32.00 X 0 247902 22186 BARBARA CALDERONE VP RISK MANAGEMENT & HEALTH 8.00 32.00 X 0 208952 20809 TERRY QUIGLEY VP OPERATIONS & COO 8.00 32.00 X 0 112534 20774 DAVID WEIDERT EXECUTIVE DIRECTOR 40.00 X 193931 0 11850 193931 1822308 168452 1 0 1 0 DPR CONSTRUCTION A GENERAL PARTNERSHIP 4665 MACARTHUR CT SUITE 100 NEWPORT BEACH CA 92660 CONSTRUCTION 70119774 PERKINS EASTMAN ARCHITECTS PC 115 5TH AVE 3RD FLOOR NEW YORK NY 10003 ARCHITECT & ENGINEERING 750621 FURNITURE SOLUTIONS GROUP 619 SEVERN AVE STE 302 ANNAPOLIS MD 21403 FURNITURE 564937 NIC PARTNERS INC 1119 JACK BENNY DR STE 103 RANCHO CUCAMMONGA CA 91739 NETWORK INFRASTRUCTURE 454885 BLUESPIRE 7650 EDINBOROUGH WAY STE 500 MINNEAPOLIS MN 55435 MARKETING 396828 20 RESIDENT CARE FEES 623000 1679601 1679601 AMORT OF ENTRANCE FEES 721000 692460 692460 ANCILLARY SERVICES 623990 155637 155637 2527698 42541 42541 SERVICE INCOME 900099 56498 56498 OTHER INCOME 900099 10507 10507 67005 2637244 2594703 0 42541 356785 121176 221243 14366 1503546 1228822 274724 41190 31412 9778 258863 220253 38610 151926 121958 29968 13621 13621 5100 5100 323950 323950 4847 4847 11536 1055 10481 4485 159 4326 3416588 3416588 2352300 2352300 160007 158804 1203 AMORTIZATION 3170028 3170028 PURCHASED SERVICES-SKIL 769726 717989 51737 MANAGEMENT FEE EXPENSES 368707 368707 PURCHASED SERVICES-GROU 344096 344096 545722 235691 310031 13803023 12444281 1344376 14366 208178 1884560 28568 52206 137191 266733 153943977 2375827 112051002 151568150 6208130 3587865 72798175 41533505 191402676 198921587 6165213 461683 735432 88897215 145237816 80016257 654759 25879464 152793220 195254619 X 38589107 3608932 132 37660 20217 20376 38609456 3666968 191402676 198921587 X -11165779 -23776709 X X 0 1 X 1 0 X 763949 373304 314401 1451654 10400 13200 90745979 90769579 763949 383704 327601 90745979 92221233 0 4058449 4058449 4058449 4058449 88162784 476040 913842 867215 669927 42541 2969565 476040 913842 867215 669927 42541 2969565 10507 10507 1239989 1297546 1194816 669927 90799027 95201305 0.92610 0.03120 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2015 AMOUNT: $ 10,507. 27131901 450961 27496874 85988 33476058 257095 2541844 9007616 135480 27131901 12609527 27765084 1532515 8307167 123901 33476058 22071820 550990 355466 10291032 57717 12609527 17289427 17289427 132270755 2166752 130104003 4383795 209075 4174720 151568150 COSTS OF ACQUIRING INITIAL CONTINUING CARE CONTRACTS 9586457 CAPITALIZED INTEREST 4261081 OTHER ASSETS 13505 RESTRICTED CASH AND CASH EQUIVALENTS FOR BOND INDENTURE 27616068 INTEREST IN RELATED PARTIES' NET ASSETS 56394 41533505 INTEREST PAYABLE 328050 OTHER CURRENT LIABILITIES 80920 DUE TO RELATED PARTIES 52007 OBLIGATION OF FUTURE SERVICE AND FACILITY USE 24829487 NOTE PAYABLE TO RELATED PARTY 589000 25879464 X 2675395 38151 38151 2637244 0 2637244 13803023 0 13803023 0 13803023 PART V, LINE 4: IN PRIOR YEARS MCINC USED THE ENDOWMENT FUNDS TO MAINTAIN THE LEVEL OF PROGRAMS AND SERVICES PROVIDED BY ECS. PART X, LINE 2: 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 38,151. X X X X X X 0 0 0 0 0 0 0 1 0 MARTHA TAMBURRANO UNTIL DEC 2015 PRESIDENT/CEO 0 437069 0 15663 0 21143 0 27825 0 6341 0 508041 0 0 JAMES ROTHROCK FROM JAN 2016 PRESIDENT/CEO 0 293453 0 15675 0 18300 0 23949 0 10825 0 362202 0 0 GREGORY BEARCE UNTIL 71015 VP OPERATIONS 0 367702 0 0 0 11674 0 16135 0 7758 0 403269 0 0 STACIE OCAMPO VP HUMAN RESOURCES 0 196453 0 33176 0 18273 0 12921 0 9265 0 270088 0 0 BARBARA CALDERONE VP RISK MANAGEMENT & HEALTH 0 184662 0 5000 0 19290 0 9968 0 10841 0 229761 0 0 DAVID WEIDERT EXECUTIVE DIRECTOR 177058 0 5000 0 11873 0 5422 0 6428 0 205781 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 B LOS ANGELES COUNTY REGIONAL FINANCING AUTHORITY 956000927 397150867 2014-06-01 25500000 PROJECT FINANCING 0 0 0 C LOS ANGELES COUNTY REGIONAL FINANCING AUTHORITY 956000927 397150868 2014-06-01 25000000 PROJECT FINANCING 0 0 0 D LOS ANGELES COUNTY REGIONAL FINANCING AUTHORITY 956000927 397150869 2014-06-01 45000000 PROJECT FINANCING 0 0 0 A 44805000 16271128 2510589 920398 25102885 0 0 1 1 B 25500000 9260434 1428859 523829 14286878 0 0 1 1 C 19260000 25000000 2084506 321633 117913 22475948 0 0 1 1 D 45000000 45000000 45000000 0 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 D 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 0 0 D 0 0 0 0 0 0 0 0 0 A 0 B 0 C 0 D 0 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 NONPROFIT 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 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 APPOINTMENT OF INDEPENDENT AUDITOR AND CORPORATE COUNSEL. FORM 990, PART VI, SECTION B, LINE 11 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 COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS' COMPENSATION COMMITTEE. THE COMMITTEE UTILIZES THE LEADERSHIP COMPENSATION SURVEY CO-SPONSORED BY LEADING AGE/CEMO, AND THE SERVICES OF AN INDEPENDENT COMPENSATION CONSULTANT IN ORDER TO ENSURE COMPLIANCE WITH IRS GUIDELINES FOR EXECUTIVE COMPENSATION IN TAX EXEMPT ORGANIZATIONS. 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 38,151. TRANSFER OF NET ASSETS FROM ECS, NET 1,014,627. CHANGE IN OBLIGATION TO PROVIDE FUTURE SERVICE AND FACILITY USE -24,829,487. FORM 990 PART XII LINE 2C THE ORGANIZATION HAS NOT CHANGED ITS PROCESS FOR SELECTING AN INDEPENDENT ACCOUNTANT OR OVERSIGHT OF THE AUDIT OF THE FINANCIAL STATEMENTS. EPISCOPAL COMMUNITIES & SERVICES FOR SENIORS 1111 S ARROYO PARKWAY STE 230 PASADENA CA 91105 951642373 PROMOTES HEALTH AND WELL BEING OF OLDER ADULTS THRU CARE, SERVICES & HOUSING CA 501(C)(3) 509(A)(2) N/A 0 CREATIVE HOUSING & SERVICES 1111 S ARROYO PARKWAY STE 230 PASADENA CA 91105 330204306 PROVIDES SERVICES TO AFFORDABLE SENIOR AND DISABLED HOUSING FACILITIES CA 501(C)(3) 509(A)(2) EPISCOPAL COMMUNITIES & SERVICES FOR SENIORS 0 SOPHIE MILLER FOUNDATION 1111 S ARROYO PARKWAY STE 230 PASADENA CA 91105 471102014 SUPPORTS VIBRANT COMMUNITY FOR SENIORS THROUGH BENEVOLENCE AND INNOVATION CA 501(C)(3) 509(A)(3) EPISCOPAL COMMUNITIES & SERVICES FOR SENIORS 0 0 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0