2017-07-20T13:16:18-05:00 2016-12-31 010494526 Baker Newman & Noyes LLC Box 507 Portland ME 04112 990 2016-01-01 010496258 Maine Life Care Retirement Community Inc MAIN 2078838700 15 Piper Road Scarborough ME 04074 Stephen Decastro Chair 2078838700 2017-06-29 1 Nicholas E Porto P01310283 2078792100 2017-06-29 208.105.168.164 2017-06-29 10:39:42 ED P 45A87A58F6C00BCB2409326513FED20CCB94F06D 2CC4C4610C7CE537855CCDE76D04A8640C960E3E 2016 2021-01-29 14:40:06Z Piper Shores Stephen Decastro 15 Piper Road Scarborough ME 04074 33682303 0 X www.pipershores.org X 1995 ME Continuing care retirement community 12 12 298 25 0 0 4256 10272 14091772 14734967 2981311 671173 -451512 0 16625827 15416412 26400 64115 0 0 7323710 7550682 0 0 0 9363037 9349368 16713147 16964165 -87320 -1547753 98857066 105257911 115891334 122492815 -17034268 -17234904 X Maine Life Care Retirement Community (dba Piper Shores) offers a vibrant retirement living lifestyle that enriches residents by providing a continuum of the highest quality of care and service. Piper Shores will help all residents realize their optimum potential by cultivating a rich diversity of life experience that connects to innovative programs and services. 0 0 14711033 64115 14734967 Maine Life Care provides residents with a safe and secure home community, providing for independent living needs and continued health care services for the remainder of their lives. It consists of 160 independent living units, 40 independent living cottages, 20 assisted living units, 40 skilled nursing beds, and common areas. 14711033 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 63 0 1 298 1 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X Richard Ashley 2078838700 15 Piper Road Scarborough ME 04074 Thomas Amoroso Director 2.00 0.00 X 0 0 0 Mary Bertolet Director (through Oct 2016) 2.00 0.00 X 0 0 0 Michael Connolly Director (through Oct 2016) 2.00 0.00 X 0 0 0 Susan Doliner Director 2.00 0.00 X 0 0 0 Marilyn Gugliucci Director 2.00 0.00 X 0 0 0 Jacquelyn Hedlund Director (through Apr 2016) 2.00 0.00 X 0 0 0 Gerard Kiladjian Director 2.00 0.00 X 0 0 0 Victoria Kuhn Director (through Oct 2016) 2.00 0.00 X 0 0 0 Stephen Larned MD Director (through Oct 2016) 2.00 0.00 X 0 0 0 Miriam Leonard Director 2.00 0.00 X 0 0 0 Matthew O'Reilly Director 2.00 0.00 X 0 0 0 Jane Pringle MD Director 2.00 0.00 X 0 0 0 Malcolm Rogers MD Director 2.00 0.00 X 0 0 0 Stephen Decastro Chair 4.00 0.00 X X 0 0 0 Robert Danielson Vice Chair 4.00 0.00 X X 0 0 0 Karen Milliken Treasurer 4.00 0.00 X X 0 0 0 Susan Guerette Secretary 4.00 0.00 X X 0 0 0 James Adamowicz CEO 40.00 0.00 X 269957 0 23621 Andrea Killiard Marketing Director 40.00 0.00 X 166666 0 14890 Richard Ashley Finance Director 40.00 0.00 X 146037 0 8161 Michelle McGarrity Food and Beverage Director 40.00 0.00 X 122281 0 20237 Brian Kenney facilities Director 40.00 0.00 X 107579 0 14599 Kimberly Goten Human Resources Director 40.00 0.00 X 105251 0 11529 917771 0 93037 7 0 1 0 Rehab Care Inc PO Box 503534 St Louis MO 63150 Physical Therapy 243471 SFCS Inc 305 South Jefferson Street Roanoke VA 24011 Architects 165974 Seabreeze Property Services 415 Presumpscot Street Portland ME 04103 Property Services 164891 AAA Energy Services Co PO Box 908 Scarborough ME 04070 HVAC Services 141383 Ethos Marketing & Design 17 Ash Street Westbrook ME 04092 Marketing 131853 9 10272 10272 Resident services 541300 14644457 14644457 Miscellaneous Revenue 541300 90510 90510 14734967 547642 547642 18389422 18265891 123531 123531 123531 15416412 14734967 0 671173 1073 1073 63042 63042 293578 293578 5844527 5167909 676618 120905 94942 25963 845407 774044 71363 446265 387240 59025 18994 18994 42775 42775 111552 83903 27649 227919 227919 587503 14022 573481 2721848 2721848 67034 47846 19188 41518 15777 25741 969341 920874 48467 2847414 2705043 142371 115993 115993 Dining services 914369 914369 Health services 558546 558546 Housekeeping & laundry 70831 70831 Provider Tax 45070 45070 8661 8661 16964165 14711033 2253132 0 906827 2380801 17245668 13664809 372078 377075 161291 272086 34407 32780 199050 199284 86797716 31082516 50550446 55715200 29124442 32327100 262857 288776 98857066 105257911 1141912 3732123 76392567 80868641 34133695 32781434 4223160 5110617 115891334 122492815 X -17876403 -18091531 842135 856627 -17034268 -17234904 98857066 105257911 -1547753 1347117 0 X X 0 1 X 1 0 X 125591 41743 7145 4256 10272 189007 15880457 15470178 13826063 14091772 14734967 74003437 16006048 15511921 13833208 14096028 14745239 74192444 101447 101447 0 101447 101447 74090997 530030 441736 452648 562303 547642 2534359 530030 441736 452648 562303 547642 2534359 16536078 15953657 14285856 14658331 15292881 76726803 0.96560 0.96670 0.03300 0.03190 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 874616 10272 2714 887602 883748 4256 -13388 874616 870131 7145 6472 883748 799962 41743 28426 870131 640835 124302 34825 799962 0.00000 0.00000 1.00000 0 0 2837480 2837480 69441174 25573630 43867544 7213548 5508886 1704662 7305514 7305514 55715200 Resident Deposits 4720017 Refunds in Process 390600 5110617 X 16763529 1347117 1347117 15416412 0 15416412 16964165 0 16964165 0 16964165 Part V, Line 4: The endowment fund will be used to help the community with the loss of revenue from residents whose financial resources have eroded and to help stabilize resident monthly fees. Gifts to the endowment fund may also support projects and programs that might otherwise not be affordable. Part X, Line 2: The Community is exempt from federal income taxes under section 501(c)(3) of the Internal Revenue Code. Tax-exempt organizations could be required to record an obligation for income taxes as the result of a tax position they have historically taken on various tax exposure items including unrelated business income or tax status. Under guidance issued by the Financial Accounting Standards Board, assets and liabilities are established for uncertain tax positions taken or positions expected to be taken in income tax returns when such positions are judged to meet the "more likely than not" threshold, based upon the technical merits of the position. Estimated interest and penalties, if applicable, related to uncertain tax positions are included as a component of income tax expense. The Community has evaluated the positions taken on its filed tax returns. The Community's tax years from 2013 through 2016 are open and subject to examination. 1 Financial Hardship Assistance 2 63042 Residency Fees Billed Reduction/Write Off of Monthly Residency Fees Part I, Line 2: Grants are provided in the form of a reduction or write off of residency fees for residents of Maine Life Care Retirement Community who are experiencing proven financial hardship. X X X X 0 0 0 0 0 0 0 1 0 James Adamowicz CEO 238507 0 31450 0 0 0 8850 0 14771 0 293578 0 0 0 Andrea Killiard Marketing Director 152081 0 14585 0 0 0 6667 0 8223 0 181556 0 0 0 Richard Ashley Finance Director 127112 0 18925 0 0 0 5842 0 2319 0 154198 0 0 0 Part I, Line 7 The Organization has a modest bonus program for the CEO and other senior management. One of the components of the program is actual financial performance compared to budgeted financial expectations. A Maine Health and Higher Education Facilities Authority Series 2015 010314384 2015-06-17 35000000 Construction of assisted living units; current refunding 2004 & 2012 bonds 0 0 0 A 675958 35000000 196911 10000000 1 0 0 1 A 0 0 0 0 0 0 1 A 0 0 1 0 0 0 0 1 A 1 Form 990, Part VI, Section B, line 11b The finance committee reviews and accepts the Form 990 and the board affairs committee reviews the governance section. Copies are distributed to the entire Board before filing. Form 990, Part VI, Section B, line 12c Officers & Directors complete a questionnaire and the CEO reviews the disclosures. The information is submitted to the Bureau of Insurance annually. Form 990, Part VI, Section B, line 15 The Board of Directors sets compensation for the CEO. The CEO sets compensation for top management based on industry data. Form 990, Part VI, Section C, line 19 Form 990 and other documents are provided upon request. Form 990 may also be viewed at www.guidestar.org. Form 990, Part XII, line 2c: The finance committee is responsible for overseeing the audit of the financial statements and selecting an independent auditor. The audit process has not changed from the prior year.