2017-02-15T09:34:48-06:00 2016-06-30 010523282 Berry Dunn McNeil & Parker LLC PO Box 1100 Portland ME 041041100 990 2015-07-01 010211512 Home for the Aged HOME 2077977710 777 Stevens Avenue Portland ME 04103 Denise Vachon CEO 2077977710 2017-02-15 1 Joseph R Byrne CPA P01289281 2077752387 2017-02-14 2015 2021-01-29 14:40:06Z The Park Danforth Denise Vachon 777 Stevens Avenue Portland ME 04103 12518671 0 X www.parkdanforth.com X 1881 ME To provide high quality housing and services to those 60 years of age and older. 11 11 120 13 0 0 4871 5570 5140465 5066053 1218249 1090874 -9661 0 6353924 6162497 0 0 0 0 2482552 2589127 0 0 0 2915456 2707065 5398008 5296192 955916 866305 23685742 29975246 12410834 18870370 11274908 11104876 X To provide housing and services that enhance a person's quality of life, respect personal dignity, and accommodate the need for privacy and self-determination. In doing so, we aim to respond to the individual's changing needs brought about through aging. 0 0 2038294 2104325 Home for the Aged provides high quality housing, meals, civic, cultural and recreational activities and emergency response service to the residents of its fifty-four independent living apartments. Some of the apartments are offered at rates that are below-market rates, making them accessible to those whose resources are modest, yet not such that the individuals are eligible for federal assistance. These apartments are specially designed to optimally meet the needs of those who are aging in place. 1547180 1765517 Home for the Aged provides high quality housing, meals, personal care services, assistance with medications and civic, cultural and recreational activities to the residents of its thirty-six state-licensed assisted living studios. Some of the apartments are offered to low and very low income residents, subsidized by the State of Maine's MaineCare program. Home for the Aged operates the MaineCare supported studios at below-cost, and operating subsidies (to offset losses) are provided by the Home's endowment. Estimated operating subsidies in the current year were $566,140. 476796 1196211 Home for the Aged provides high quality, dignified, safe and affordable housing (70 independent living apartments) to those whose means are defined as "very low income or "extremely low income" in accordance with federal eligibility guidelines for the HUD Section 8 program.In providing Section 8 housing, Home for the Aged, in partnership with the U.S. Department of HUD, provides housing to those who would otherwise be at financial risk due to the high cost of housing and utilities. These apartments are specially designed to optimally meet the needs of those who are aging in place. As these residents age, by virtue of their residency, they are given priority for transfers to the assisted living program at such time as a higher level of care is needed. 4062270 1 0 0 1 0 0 0 0 0 1 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 7 0 1 120 1 0 0 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AL AK AR AZ CA CT GA ME MD MA NH NY NC RI SC VA WI X Denise M Vachon CEO 2077977710 777 Stevens Avenue Portland ME 041032644 Michael Bevilacqua President 0.30 X X 0 0 0 Erik Hayward Vice President 0.30 X X 0 0 0 Dana Mitiguy Treasurer 0.30 X X 0 0 0 Mary Toole Secretary 0.30 X X 0 0 0 Nelson Megna Trustee 0.30 X 0 0 0 Susan Pelletier Trustee 0.30 X 0 0 0 Brett Seekins Trustee 0.30 X 0 0 0 Bill Shanahan Trustee 0.30 X 0 0 0 Tyler Hobbs Trustee 0.30 X 0 0 0 Matthew Holbrook Trustee 0.30 X 0 0 0 Roberta Wright Trustee 0.30 X 0 0 0 Matthew Jacobson Past Trustee 0.30 X 0 0 0 Catherine Lamson Past Trustee 0.30 X 0 0 0 Denise M Vachon CEO 40.00 X 149065 0 15510 Lisa Noonan COO 40.00 X 113424 0 6944 Lorri Sommer CFO 40.00 X 42714 0 2267 305203 0 24721 2 0 1 0 PC Construction Company 193 Tilley Drive South Burlington VT 05403 Construction 1477352 Lavallee Brensinger Architects 155 Dow Street Suite 400 Manchester NH 03101 Architectual Services 1004884 Perkins Thompson One Canal Plaza Portland ME 041120426 Legal Services 164473 Mitchell & Associates 70 Center Street Portland ME 04101 Real Estate Consulting 113322 4 5570 5570 Rental Income 623990 5254408 5254408 Meal Income 623990 358617 358617 Other Income 623990 19168 19168 Contractual Adjustment 623990 -566140 -566140 5066053 163893 163893 7283155 6356174 926981 926981 926981 6162497 5066053 0 1090874 329924 329924 1827251 1499520 327731 67727 55580 12147 208268 172557 35711 155957 110111 45846 38191 38191 68042 68042 37651 37651 49214 28684 20530 91690 91690 118392 41207 77185 72995 72995 586942 586942 3382 3382 24269 24269 478056 442012 36044 714072 714072 34927 32155 2772 Food Service Expenses 343707 343707 Service Provider Tax 28608 28608 Miscellaneous 16927 3733 13194 5296192 4062270 1233922 0 X 366611 727019 2900587 954403 52869 56082 5086 0 32332377 9237738 13051090 23094639 7269114 5066807 0 40385 76296 23685742 29975246 999710 2756506 11246194 15888324 164930 225540 12410834 18870370 X 5299932 8372465 5039925 1797360 935051 935051 11274908 11104876 23685742 29975246 866305 -1036337 0 X 0 1 X 1 0 X 996 2690 10117 4871 5570 24244 3330879 3505997 3690754 5140465 5066053 20734148 3331875 3508687 3700871 5145336 5071623 20758392 0 466732 444699 492291 234151 197454 1835327 466732 444699 492291 234151 197454 1835327 18923065 202132 205489 190899 188778 163893 951191 202132 205489 190899 188778 163893 951191 23758 144 23902 3534007 3737934 3891914 5334114 5235516 21733485 0.87070 0.84500 0.04380 0.04760 X 0 0 0 0 0 0 0 0 1 1281 1281 0 Part II-B, Line 1: The Organization pays dues to local associations. A portion of those dues are related to lobbying activities. 9600889 304529 16054 4522865 5398607 10584905 351300 650522 1985838 9600889 9207686 296156 1657314 576251 10584905 8251778 244265 711643 9207686 7595796 394812 261170 8251778 0.49400 0.17300 0.33300 0 0 2388461 2388461 16013340 9024047 6989293 1046963 183136 863827 12883613 30555 12853058 23094639 Security Deposits 199273 Tenant Deposits 26267 225540 5088509 -1036337 -1036337 6124846 37651 37651 6162497 5258541 0 5258541 37651 37651 5296192 Part V, Line 4: The endowment funds of the Home for the Aged are made up of four groups (Group I, Group II, Group III, and Samuel Clark, Jr. Funds) each with its own guidelines for usage. The use of Group I income is unrestricted with the principal being classified as not expendable. The use of Group II income is expendable to support aged married couples with the principal being classified as not expendable. The Home maintains this requirement by giving priority to couples and survivors of couples when filling vacant residential units. The use of Group III funds is unrestricted for both principal and income. The use of the Clark Fund principal and income is expendable to support aged married couples. The Home maintains this requirement by giving priority to couples and survivors of couples when filling vacant residential units. Based on the guidelines of each group, the usage of funds from the endowments is used to help with the cost of operating the Organization. X X X 0 0 0 0 0 0 0 0 0 Denise M Vachon CEO 149065 0 0 0 0 0 7453 0 8057 0 164575 0 0 0 Form 990, Part VI, Section B, line 11 Lorri Sommer, Chief Financial Officer, reviews the prepared Form 990 and work performed by Bruce Rutter, Director of Finance, in conjuction with preparation prior to the Organization's February Finance Committee meeting. Members of the Finance Committee receive a copy of the prepared 990 and meet with the Organization's independent accounting firm, Berry Dunn, to discuss preparation. The Finance Committee recommends approval to the Board of Trustees. The Board of Trustees then receives a copy of the prepared Form 990 and votes to approve the return prior to filing. Form 990, Part VI, Section B, line 12c The Organization's Conflict of Interest Policy covers Trustees, Officers and Key Employees (CEO, COO, CFO). The Organization reviews the Conflict of Interest Policy with these individuals annually and requires them to complete and sign an acknowledgement and disclosure questionnaire. The Organization's officers also monitor transactions during the year for known conflicts of interest. The policy requires that any conflict of interest transaction be authorized, approved or ratified by the majority of board members who do not have an interest. A conflict of interest transaction can only be approved, authorized or ratified if the material facts are known, the transaction is fair and equitable to the Organization and any conflict of interest is not substantial. Documentation of all relevant information is maintained in the board minutes. Form 990, Part VI, Section B, line 15 Compensation is reviewed in detail each fiscal year by the Personnel Committee and Board of Trustees and is competitive market tested annually. 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 X, Line 10: Land, Buildings, and Equipments Section 1.263(a)-3(n) Election: Home for the Aged 777 Stevens Avenue Portland, ME 04103 EIN: 01-0211512 Home for the Aged is electing to capitalize repair and maintenance costs under Regulation Section 1.263(a)-3(n). HFA HUD Properties LLC 777 Stevens Avenue Portland ME 04103 465670015 Holding Company ME 100562 4289596 N/A