2016-05-12T11:42:58-05:00 2015-06-30 263753134 CBIZ TOFIAS 500 BOYLSTON STREET BOSTON MA 02116 990 2014-07-01 223042122 LASELL VILLAGE INC LASE 6172432100 120 SEMINARY AVE AUBURNDALE MA 02466 MICHAEL J HOYLE PH D VP FOR BUSINESS & FINANCE 6172432100 2016-04-28 1 JOSEPH M GISO CPA MST P00030126 6177610600 2016-04-28 2014 2016-08-17 19:52:53Z MICHAEL B ALEXANDER 120 SEMINARY AVE AUBURNDALE MA 02466 25187504 0 X WWW.LASELLVILLAGE.COM X 1990 MA LASELL VILLAGE, SPONSORED BY LASELL COLLEGE, IS HOME TO SOME 217 RESIDENTS IN ITS INDEPENDENT LIVING APARTMENTS, SUPPORTED LIVING STUDIOS AND INCLUDES A 38 BED SKILLED NURSING FACILITY. OPEN SINCE MAY 2000, THE VILLAGE COMBINES THE ELEMENTS OF LIFELONG LEARNING, RETIREMENT LIVING, SUPPORT SERVICES, SHORT-TERM REHABILITATION AND LONG-TERM CARE. 11 11 255 11 0 0 0 69245 18296462 16653350 614167 795074 138821 136465 19049450 17654134 0 0 0 0 6431484 6785654 0 0 0 11810841 12504072 18242325 19289726 807125 -1635592 79716064 79514334 119522806 119051065 -39806742 -39536731 X LASELL VILLAGE, SPONSORED BY LASELL COLLEGE, IS HOME TO SOME 217 RESIDENTS IN ITS INDEPENDENT LIVING APARTMENTS, SUPPORTED LIVING STUDIOS AND INCLUDES A 38 BED SKILLED NURSING FACILITY. OPEN SINCE MAY 2000, THE VILLAGE COMBINES THE ELEMENTS OF LIFELONG LEARNING, RETIREMENT LIVING, SUPPORT SERVICES, SHORT-TERM REHABILITATION AND LONG-TERM CARE. 0 0 16811031 16653350 LASELL VILLAGE OPERATES A CONTINUING CARE RETIREMENT COMMUNITY AND PROVIDES, IN COOPERATION WITH LASELL COLLEGE, RESIDENTIAL AND NON-RESIDENTIAL EDUCATION PROGRAMS FOR ELDERLY PERSONS. THROUGH INTERGENERATIONAL LEARNING ACTIVITIES WITH THE FACULTY AND STUDENTS OF LASELL COLLEGE AND PROGRAMS SPONSORED BY THE ON-SITE ROSEMARY B. FUSS CENTER FOR RESEARCH ON AGING AND INTERGENERATIONAL STUDIES, LASELL VILLAGE DISSEMINATES CURRENT AND BROAD-BASED INFORMATION ABOUT AGING AND FACTORS THAT CONTRIBUTE TO WELL-BEING IN LATER LIFE. LASELL VILLAGE SPONSORS AND PARTNERS IN RESEARCH WITH OTHER EDUCATIONAL AND RESEARCH INSTITUTIONS REGARDING THE COGNITIVE, EMOTIONAL, PHYSICAL NEEDS AND CAPABILITIES OF THE ELDERLY AND THE VALUE OF CONTINUED LEARNING IN LATER LIFE. NUMBER OF RESIDENTS ENROLLED PER SEMESTER AND THE NUMBER OF COURSES OFFERED:FALL 2014: 182 RESIDENTS ENROLLED IN 19 COURSESSPRING 2015: 178 RESIDENTS ENROLLED IN 19 COURSESSUMMER 2015: 175 RESIDENTS ENROLLED IN 17 COURSES 16811031 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 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 38 0 1 255 1 0 0 0 0 0 0 0 0 0 0 X 11 11 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X MICHAEL J HOYLE PH D 6172432100 1844 COMMONWEALTH AVE NEWTON MA 02466 ADELE FLEET BACOW CHAIRMAN 2.00 0.00 X X 0 0 0 JACK LEONARD TREASURER 2.00 0.00 X X 0 0 0 SALLY ANDREWS CLERK 2.00 0.00 X X 0 0 0 CYNTHIA DEMBER RESIDENT TRUSTEE 1.00 0.00 X 0 0 0 CLAIRE MCGUIRE DIRECTOR 1.00 0.00 X 0 0 0 ELLEN OFFNER DIRECTOR 1.00 0.00 X 0 0 0 RUTH NEMZOFF DIRECTOR 1.00 0.00 X 0 0 0 GERALD POLCARI DIRECTOR 1.00 0.00 X 0 0 0 FRED PRYOR DIRECTOR 1.00 0.00 X 0 0 0 MARGERY SILVER RESIDENT TRUSTEE 1.00 0.00 X 0 0 0 ERIC TURNER DIRECTOR 1.00 0.00 X 0 0 0 HELENA HARTNETT DIRECTOR (UNTIL 12/2014) 1.00 0.00 X 0 0 0 ANNE E DOYLE PRESIDENT 40.00 10.00 X 0 0 0 PAMELA FARIA ASSISTANT CLERK 10.00 40.00 X 0 118457 19117 MICHAEL ALEXANDER PRES.-LASELL COLLEGE/CEO-LASELL VILLAGE 10.00 40.00 X 0 386867 117825 DR MICHAEL J HOYLE VP BUSINESS & FINANCE LASEL COLLEGE 10.00 40.00 X 0 219894 24921 DR PAULA PANCHUCK VP LASELL VILLAGE AT LASELL COLLEGE 40.00 10.00 X 0 198613 25506 ELIZABETH IHENACHO NURSING SUPERVISOR 40.00 0.00 X 131649 0 31398 SHARI MEGA DIRECTOR OF BUS. & FIN. 40.00 0.00 X 114714 0 17810 EDITH EBOZUE RN 40.00 0.00 X 113036 0 6730 GINA ST FLEUR RN 40.00 0.00 X 114630 0 35391 MARIA LEONE RN 40.00 0.00 X 125287 0 9302 599316 923831 288000 6 0 1 0 LASELL COLLEGE 1844 COMMONWEALTH AVE NEWTON MA 02466 MANAGEMENT CONTRACT 2021085 GENESIS REHABILITATION SERVICES PO BOX 7247-6524 PHILADELPHIA PA 19170 REHAB FOR SKILLED NURSING UNIT 825691 GENESIS ELDERCARE 101 EAST STATE ST 3RD FLOOR KENNETT SQUARE PA 19348 SKILLED NURSING MGMT. CONTRACT 403319 3 69245 69245 RESIDENTIAL FEES 623000 10443817 10443817 SKILLED NURSING 623000 4719495 4719495 EARNED ENTRANCE FEE 623000 775315 775315 RESIDENTIAL FEES OTHER 623990 714723 714723 16653350 768725 768725 7559719 7512654 20716 47065 -20716 26349 26349 OTHER INCOME 900099 136465 136465 136465 17654134 16653350 0 931539 280604 280604 5185121 4780322 404799 173336 139295 34041 765649 695259 70390 380944 349977 30967 766372 766372 13722 13722 129297 129297 2743 2743 1589821 1462046 127775 91922 91922 44376 12858 31518 109974 102298 7676 3770672 3629605 141067 762 762 5277 300 4977 862119 802949 59170 3323314 3095226 228088 189468 176464 13004 REAL ESTATE TAXES 714723 714723 FACILITIES MAINT. CONT. 544857 544857 LAND LEASE 205840 205840 RESIDENT ACTIVITIES 69958 69958 68855 29054 39801 19289726 16811031 2478695 0 6919738 7748708 1407779 1423439 1924747 2200098 1066950 590310 1558123 1566607 67373441 30378957 38885441 36994484 15781000 16614021 11899435 12015941 272851 360726 79716064 79514334 1423697 1464417 954031 1012507 17906000 17432000 99239078 99142141 119522806 119051065 X -39806742 -39605976 69245 -39806742 -39536731 79716064 79514334 X -1635592 149405 1756198 X 0 1 X 1 0 X 69245 69245 16231483 15737676 17223745 18296462 16653350 84142716 16231483 15737676 17223745 18296462 16722595 84211961 269224 358446 329441 213096 266375 1436582 0 269224 358446 329441 213096 266375 1436582 82775379 605564 554511 649034 645808 768725 3223642 605564 554511 649034 645808 768725 3223642 202191 167809 146959 138821 136465 792245 17039238 16459996 18019738 19081091 17627785 88227848 0.93820 0.94130 0.03650 0.03260 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 69245 69245 1.00000 0.00000 0.00000 0 0 62413696 28506302 33907394 4959745 1872655 3087090 36994484 CORPORATE BONDS 10895331 F PREFERRED STOCK 412715 F GOVERNMENT OBLIGATIONS 356027 F CERTIFICATES OF DEPOSIT 99575 F MUTUAL FUNDS 252293 F 12015941 REFUNDABLE DEPOSITS & INTEREST 90000 NONREFUNDABLE ENTRANCE FEES 5042556 REFUNDABLE ENTRANCE FEES 81609494 FAIR VALUE OF INTEREST SWAP 3358542 DUE TO AFFILIATES 129389 FUTURE SERVICE OBLIGATION 8912160 99142141 X 19559737 149405 1756198 1905603 17654134 0 17654134 19289726 0 19289726 0 19289726 PART X, LINE 2: THE VILLAGE ACCOUNTS FOR THE EFFECT OF ANY UNCERTAIN TAX POSITIONS BASED ON A "MORE LIKELY THAN NOT" THRESHOLD TO THE RECOGNITION OF THE TAX POSITIONS BEING SUSTAINED BASED ON THE TECHNICAL MERITS OF THE POSITION UNDER SCRUTINY BY THE APPLICABLE TAXING AUTHORITY. IF A TAX POSITION OR POSITIONS ARE DEEMED TO RESULT IN UNCERTAINTIES OF THOSE POSITIONS, THE UNRECOGNIZED TAX BENEFIT IS ESTIMATED BASED ON A "CUMULATIVE PROBABILITY ASSESSMENT" THAT AGGREGATES THE ESTIMATED TAX LIABILITY FOR ALL UNCERTAIN TAX POSITIONS. THE VILLAGE HAS IDENTIFIED ITS TAX STATUS AS A TAX-EXEMPT ENTITY AND ITS DETERMINATION AS TO ITS INCOME BEING RELATED OR UNRELATED AS ITS ONLY SIGNIFICANT TAX POSITIONS; HOWEVER, THE VILLAGE HAS DETERMINED THAT SUCH TAX POSITIONS DO NOT RESULT IN AN UNCERTAINTY REQUIRING RECOGNITION. THE VILLAGE IS NOT CURRENTLY UNDER EXAMINATION BY ANY TAXING JURISDICTIONS. THE VILLAGE'S FEDERAL AND STATE TAX RETURNS ARE GENERALLY OPEN FOR EXAMINATION FOR THREE YEARS FOLLOWING THE DATE FILED. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN FAIR VALUE OF INTEREST RATE SWAP -170,284. OBLIGATION TO PROVIDE FUTURE SERVICES 1,926,482. X 1 1 X X X X X 0 0 0 0 0 0 0 1 0 MICHAEL ALEXANDER PRES.-LASELL COLLEGE/CEO-LASELL VILL 0 358825 0 18250 0 9792 0 94500 0 23325 0 504692 0 0 DR MICHAEL J HOYLE VP BUSINESS & FINANCE LASEL COLLEGE 0 199714 0 20000 0 180 0 15150 0 9771 0 244815 0 0 DR PAULA PANCHUCK VP LASELL VILLAGE AT LASELL COLLEGE 0 182089 0 15000 0 1524 0 13968 0 11538 0 224119 0 0 ELIZABETH IHENACHO NURSING SUPERVISOR 131218 0 0 0 431 0 3162 0 28236 0 163047 0 0 0 GINA ST FLEUR RN 114427 0 0 0 203 0 7155 0 28236 0 150021 0 0 0 PART I, LINE 1A LASELL COLLEGE PROVIDED NON-TAXABLE HOUSING TO THE ASSISTANT CLERK/EXECUTIVE ASSISTANT TO THE PRESIDENT AS PART OF HER COMPENSATION. PART I, LINE 7 BONUSES WERE AWARDED TO CERTAIN EMPLOYEES DURING THE YEAR. A BONUS WAS AWARDED TO THE DIRECTOR OF BUSINESS AND FINANCE AT THE RECOMMENDATION OF THE VP FOR LASELL VILLAGE AT LASELL COLLEGE AND THE VP FOR BUSINESS & FINANCE/CFO WITH THE APPROVAL OF THE PRESIDENT OF LASELL COLLEGE/CEO LASELL VILLAGE. BONUSES FOR ALL OTHER PERSONS WERE AWARDED AT THE DISCRETION OF THE VP FOR LASELL VILLAGE AT LASELL COLLEGE WITH THE APPROVAL OF THE PRESIDENT OF LASELL COLLEGE/CEO LASELL VILLAGE. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 2014-06-19 17906000 REFINANCE 2007 BONDS. 0 0 0 A 17906000 17503000 201000 2007 1 1 1 1 A 0 0 0 1 1 1 BANK OF AMERICA 30.000000000000 0 0 0 0 1 A 1 FORM 990, PART VI, SECTION A, LINE 3 THE GOVERNING BODY OF LASELL VILLAGE HAS AUTHORIZED LASELL COLLEGE THROUGH A MANAGEMENT CONTRACT AS THE MANAGEMENT COMPANY TO PERFORM THE MANAGEMENT DUTIES TYPICALLY HANDLED BY DIRECT SUPERVISION OF OFFICERS OR KEY EMPLOYEES. LASELL VILLAGE SHALL HAVE THE RIGHT, UPON NOTICE TO LASELL COLLEGE, TO CHANGE, REPEAL OR ALTER POLICIES ADOPTED AND/OR IMPLEMENTED BY LASELL COLLEGE IN CONNECTION WITH MANAGING THE DAY-TO-DAY OPERATIONS. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS PROVIDED TO ALL BOARD MEMBERS WAS REVIEWED BY THE BOARD OF TRUSTEES AT A MEETING HELD ON 4/14/16 PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C OUR ORGANIZATION REGULARLY AND CONSISTENTLY ENFORCES COMPLIANCE WITH OUR WRITTEN CONFLICT OF INTEREST POLICY BY HAVING EACH TRUSTEE, PRINCIPAL OFFICERS AND MEMBER OF A COMMITTEE WITH BOARD DELEGATED POWERS ANNUALLY SIGN A STATEMENT WHICH AFFIRMS THEIR UNDERSTANDING OF THE POLICY AND THEY INDICATE WHETHER OR NOT A CONFLICT EXISTS. THE POLICY IS ALSO REVIEWED ANNUALLY WITH MANAGERS AND WHICH IN TURN REVIEW ANNUALLY WITH THEIR STAFF. FORM 990, PART VI, SECTION B, LINE 15 THE CHAIRMAN OF THE BOARD OF TRUSTEES IN CONSULTATION WITH THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES CONDUCT AN ANNUAL WRITTEN EVALUATION OF THE PRESIDENT AND ESTABLISHES COMPENSATION BASED ON A COMPARISON OF PRESIDENTS AT SIMILAR SIZED INSTITUTIONS. THE PRESIDENT CONDUCTS AN ANNUAL WRITTEN EVALUATION OF KEY EMPLOYEES TAKING INTO ACCOUNT COMPENSATION OF PEERS AT SIMILAR SIZED INSTITUTIONS. FORM 990, PART VI, SECTION C, LINE 19 THE 990 IS AVAILABLE ON GUIDESTAR AND THE MASSACHUSETTS ATTORNEY GENERAL'S WEBSITE. THE FORM 1023 IS AVAILABLE UPON REQUEST. ALSO AVAILABLE UPON REQUEST ARE OUR GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS. FORM 990, PART XI, LINE 9: CHANGE IN FAIR VALUE OF INTERST RATE SWAP -170,284. OBLIGATION TO PROVIDE FUTURE SERVICES 1,926,482. LASELL COLLEGE INC 1844 COMMONWEALTH AVENUE NEWTON MA 02466 042103585 EDUCATION MA 501(C)(3) LINE 6 LASELL INC 0 LASELL INC 1844 COMMONWEALTH AVENUE NEWTON MA 02466 861070319 ADMINISTRATIVE SUPPORT MA 501(C)(3) LINE 11B, II N/A 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 NA