2015-11-13T06:40:53-08:00 2014-12-31 BMW TAX SERVICE 30 YORK ST AUBURN NY 130211134 990 2014-01-01 463900740 Auburn Senior Services Inc AUBU 3152530351 3 St Anthony Street Auburn NY 13021 KIMBERLY TOWNSEND PRESIDENT 3152530351 2015-11-04 T BEYOR 3152527479 2015-11-13 2014 2016-02-25 16:41:14Z X KIMBERLY TOWNSEND 700 EAST BRIGHTON AVE SYRACUSE NY 13205 24645518 false X N/A X 2013 NY Residential Health Care Facility 9 9 437 22 0 19227 17109189 0 7517102 24645518 0 0 11019511 0 0 198424 8735093 198424 19754604 -198424 4890914 24058071 198424 19395971 -198424 4662100 X AUBURN SENIOR SERVICES INC, ROOTED IN A RICH HERITAGE OF FAITH, HONORS, SERVES, AND false false 14886190 14560760 ASSI'S NURSING FACILITY OFFERS LONG TERM CARE FOR OLDER ADULTS REQUIRING 24 HOUR CARE. PATIENT HEALTH CARE NEEDS ARE MET BY CARING, WELL TRAINED INTERDISCIPLINARY TEAMS KNOWLEDGABLE ON THE LATEST RESEARCH AND TRENDS IN GERIATRIC MEDICINE. WHILE NURSING HOME PATIENTS TEND TO BE AMONG THE FRAILEST SENIORS, ASSI'S CREATIVE RECREATIONAL THERAPISTS CONDUCT DAILY ACTIVITIES AND EVENTS TO ENHANCE THE VITALITY, DIGNITY AND SPIRITUAL LIFE OF EVERY RESIDENT. THESE DAILY ACTIVITIES MIGHT INCLUDE GROUP CROSSWORD PUZZLES, HALLWAY BOWLING OR OUTINGS TO A FAVORITE RESTAURANT. IN EVERY INSTANCE THEY ARE DESIGNED TO ENCOURAGE SOCIAL INTERACTION WHILE ENHANCING QUALITY OF LIFE. ASSI IS A 300 BED FACILITY THAT INCLUDES THE LARGEST REHAB PROGRAM IN CAYUGA COUNTY BECAUSE OF OUR SIZE WE ARE ABLE TO OFFER SPECIALIZED SERVICES THAT MAY NOT BE FOUND IN SMALLER NURSING HOMES. OF PARTICULAR NOTE ARE FLOORS DEDICATED TO HIGHER FUNCTIONING PATIENTS AS WELL AS A SPECIALIZED FLOOR FOR THOSE WITH DEMENTIA. BY CREATING A SPECIALIZED FLOOR, THE NEUROLOGICAL NEEDS OF DEMENTIA PATIENTS CAN BE MET MORE EASILY AND THE NURSING STAFF BECOME EXPERTS IN THAT PARTICULAR CARE REGIMEN. THIS CONFIGURATION ALSO MORE FULLY MEETS THE COMPANIONSHIP AND CONVERSATIONAL NEEDS OF HEALTHIER RESIDENTS. A TEAM OF TALENTED RECREATIONAL THERAPIST MAINTAIN AN ACTIVE DAILY SCHEDULE OF PHYSICAL AND MENTAL ACTIVITES, OUTINGS AND SPECIAL EVENTS. 448308 666623 ASSI'S ADULT MEDICAL DAY PROGRAM SERVES THE MEDICAL NEEDS OF CAYUGA COUNTY'S ADULTS OVER THE AGE OF 21 IN A COMFORTABLE AND SAFE DAY SETTING UP TO SIX DAYS A WEEK. DAYBREAK IS DESIGNED TO HELP ADULTS OVER 21 MAINTAIN THEIR HIGHEST LEVEL OF INDEPENDENCE WHILE CONTINUING TO LIVE IN THEIR COMMUNITY. PROGRAM PARTICIPANTS MUST HAVE A MEDICAL NEED IN ORDER TO QUALIFY FOR THE SERVICES PROVIDED BY DAYBREAK, WHICH ARE COVERED BY MEDICAID. OUR PROGRAM PRIDES ITSELF ON HELPING TO KEEP PEOPLE INDEPENDENT AN 1409505 1881806 ASSI OFFERS A FULL RANGE OF REHABILITATION SERVICES INCLUDING POST SURGICAL RECOVERY, ORTHOPEDIC REHABILITATION, PHYSICAL THERAPY, OCCUPATIONAL THERAPY, PAIN MANAGEMENT AND SPEECH THERAPY. USING BEST PRACTICES, INNOVATIVE PRACTICE AREAS AND THE NEWEST TECHNOLOGY, ASSI'S CARING PROFESSIONAL STAFF STRIVE TO INCREASE RESIDENT COMFORT AND VITALITY WHILE RECOVERING FROM SURGERY, ILLNESS OR INJURY. FOLLOWING THE COURSE OF CARE, EACH RESIDENT IS EVALUATED TO DETEMINE THEIR ABILITY TO CONTINUE LIVING AL 16744003 true true false false false false false false false false true false false true true true true true false false false false false false false false false false false true false false false false false false false false false false false false false true false false false true 25 0 true 437 true false false false false false false false false false false X 9 9 false false false false true true false true true false false true true true true true true true true false NY X JOHN MURRAY 3154133206 700 East Brighton Ave Syracuse NY 132052298 X MSGR CHARLES FAHEY BOARD MEMBER CHAIR 1.00 X X 0 0 0 MICHAEL H CHAPMAN SR BOARD MEMBER 1.00 X 0 0 0 SUSAN M CROSSETT BOARD MEMBER 1.00 X 0 0 0 MS JOANN LLOYD BOARD MEMBER 1.00 X 0 0 0 RAYMOND D'AGOSTINO BOARD MEMBER, SECRETARY 1.00 X X 0 0 0 SR KATHLEEN OSBELT BOARD MEMBER 1.00 X 0 0 0 HANS PETER PECHER BOARD MEMBER 1.00 X 0 0 0 KIMBERLY TOWNSEND PRESIDENT, BOARD MEMBER 1.00 X X 0 343848 30322 ELLEN M O'CONNOR CFO, BOARD MEMBER 1.00 X X 0 190426 16447 PENNY ABULENCIA VP PACE NY 1.00 X 0 194082 18375 JACK PEASE ADMINISTRATOR 1.00 X 0 128984 25850 DOUGLAS TUCKER MEDICAL DIRECTOR 1.00 X 0 315617 28930 JOHN F HOUCK JR PHYSICIAN 1.00 X 0 197850 15958 TWINKLE PATEL PHYSICIAN 1.00 X 0 162912 17504 JOHN MURRAY CORPORATE CONTROLLER 1 X 136578 9234 CHRISTINE PEILLY CORPORATE TREASURER 1 X 127046 17597 STEFANO VOLZA FORMER CHIEF OPERATING OFFICER 1 X 189805 1981 JONATHAN COOPER FORMER VP HUMAN RESOURCES 1 X 210913 9874 ROBERT BURBANK FORMER VP INFORMATION TECHNOLOGY 1 X 145655 14737 DONNA KELLEY FORMER ADMINISTRATOR 1 X 33276 14614 2376992 221423 21 true true false HAYNOR HOYT 625 ERIE BLVD WEST SYRACUSE NY 13204 CONSTRUCTION SERVICES 5230156 ANGELICA CORPORATION PO BOX 535122 ATLANTA GA 30353 LINEN SERVICE 166010 BOND SCHOENECK & KING ONE LINCOLN CENTER SYRACUSE NY 13202 LEGAL SERVICES 137835 SECURITAS SECURITY SERVICES PO BOX 403412 ATLANTA GA 30384 SECURITY SERVICES 168349 PORT LLC 7733 FORSYTH BLVD STE 2300 ST LOUIS MO 63105 THERAPY SERVICES 864813 5 16152 3075 19227 Net Residential Service Revenue 623000 16411165 Adult Daycae Revenue 623000 666623 Othe Operating Revenue 623000 31401 17109189 Gain from transfer of net assets from Mercy Health And Rehabilition Center Nursing Home Company Inc 623000 7517102 7517102 7517102 24645518 17109189 7517102 7921258 7243930 677328 0 455150 416231 38919 0 2045527 1871341 174186 0 597576 546479 51097 0 376252 0 376252 0 122052 0 122052 0 -7800 0 -7800 0 3797768 2875426 922342 0 11476 11476 0 0 59038 16672 42366 0 410903 339023 71880 0 1724 1029 695 0 708 708 0 0 73104 55167 17937 0 360619 268515 92104 0 153042 0 153042 0 Supplies & Equipment 2115893 2096748 19145 0 NYS Gross Receipts Assessment 821526 821526 0 0 Bad Debts & Loss on Disposal 367512 169409 198103 0 Other Fees 71276 10323 60953 0 19754604 16744003 3010601 0 2639225 1430426 17848900 330247 17518653 2469767 0 24058071 4510310 7391249 198424 7494412 198424 19395971 X -198424 4662100 -198424 4662100 0 24058071 X 4890914 -30390 X X false true true false X 0 0 0 19227 19227 17077788 17077788 17097015 17097015 17097015 7548503 7548503 24645518 X 0 0 Pt III Sec A Ln 12 Other Income Part III, Line 12 THIS NUMBER CONSISTS OF $7,517,102 AND $31,401. IN 2013, ASSI ENTERED INTO TRANSFER AND TRANSITION PLAN AGREEMENTS WITH MERCY HEALTH AND REHABILITATION CENTER NURSING HOME COMPANY, INC. (CENTER)AND LMC FOR THE ACQUISITION OF SUBSTANTIALLY ALL OF THE OPERATIONAL ASSETS, INCLUDING THE PROPERTY AND BUILDINGS OF THE CENTER, TO ASSI. THE CONSIDERATION FOR THE ACQUISITION WAS THE ASSUMPTION BY ASSI OF THE CENTER'S OPERATIONAL LIABILITIES, EXCEPT FOR CERTAIN EXCLUDABLE LIABILITIES. THE ACQUISITION WAS CONDITIONED UPON RECEIVING NEW YORK STATE DEPARTMENT OF HEALTH AND PUBLIC HEALTH PLANNING COUNCIL APPROVAL OF VARIOUS CERIFICATE OF NEED (CON) AND CONSTRUCTION CON APPLICATIONS SUBMITTED IN 2013 FOR RENOVATION AND EXPANSION OF THE CENTER WHICH INCLUDED THE ADDITION OF A 60-BED WING FOR A TOTAL OF 300 BEDS TO ACCOMMODATE THE TRANSFER OF BEDS FROM CAYUGA COUNTY NURSING HOME (CCNH). OTHER CONDITIONS INCLUDED THE CENTER'S BOARD APPROVAL OF THE TRANSFER AND COURT APPROVAL FOR DISPOSITION OF THE ASSETS. ON OCTOBER 31, 2013, THE BOARD OF DIRECTORS OF THE CENTER PASSED A RESOLUTION AUTHORIZING THE TRANSFER. IN 2014, THE CENTER RECEIVED ALL OF ITS REMAINING APPROVALS AND EFFECTIVE APRIL 1, 2014, THE CENTER TRANSFERRED ITS ASSETS AND LIABILITIES TO ASSI. PURSUANT TO ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA RELATING TO NOT-FOR-PROFIT MERGERS AND ACQUISITIONS, ASSI RECORDED THE ACQUISITION OF ASSETS AND ASSUMPTION OF LIABILITIES AT FAIR VALUE AS OF APRIL 1, 2014, RESULTING IN A NET ASSET TRANSFER FROM THE CENTER OF $7,517,102 TO ASSI. THE NET ASSETS TRANSFERRED REPRESENT UNRESTRICTED NET ASSETS WITHIN THE STATEMENT OF OPERATIONS AND CHANGES IN NET ASSETS AND ARE REFLECTED IN NON-OPERATING REVENUS. THE FAIR VALUE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED WERE AS FOLLOWS: CASH $1,451,233 ACCOUNTS RECEIVABLE FOR RESIDENT SERVICES $1,822,691 DUE FROM THIRD-PARTY PAYORS $374,996 PREPAID EXPENSES AND OTHER CURRENT ASSETS $284,241 ASSETS HELD FOR RESIDENTS $114,234 PROPERTY AND EQUIPMENT $12,165,152 DEFERRED THIRD-PARTY REIMBURSEMENT $995,000 OTHER RECEIVABLES $947,083 ACCOUNTS PAYABLE AND ACCRUED EXPENSES ($6,289,917) ACCRUED PAYROLL AND RELATED BENEFITS ($553,324) DUE TO THIRD-PARTY PAYORS ($223,481) ASSET RETIREMENT OBLIGATION ($1,325,693) LIABILITIES FOR PENSION BENEFITS ($1,079,021) ASSETS HELD FOR RESIDENTS ($114,234) OTHER LIABILITIES ($947,083) LONG-TERM ACCOUNTS PAYABLE ($104,775) TOTAL $7,517,102 $31,401 REPRESENTS VARIOUS SMALL DOLLAR TRANSACTIONS SUCH AS CONTA-EXPENSES AND VENDING COMMISSIONS. Pt II Ln 10 Other Income Part III, Line 12 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 25000 25000 10385886 196832 10189054 1465666 133415 1332251 5972348 5972348 17518653 Due From Third Party Payors 1149525 Assets Held For Residents 169495 Other Receivables 268384 Other Long Term Receivables 882363 2469767 Accrued Payroll, Vacation, Taxes 538957 Liability for Pension Benefits 1020119 Asset Retirement Obligations 304909 Due to Affiliates 3992640 Due to Third Party Payors 317545 Other Liabilities 268384 Assets Held for Residents 169495 Other Long Term Liabilities 882363 7494412 X 24645518 24645518 24645518 19754604 19754604 19754604 Pt X, Line 2 ASSI IS A NOT-FOR-PROFIT CORPORATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE CODE. AS OF DECEMBER 31 2014, ASSI DOES NOT HAVE ANY SIGIFICANT UNRECOGNIZED TAX BENEFITS OR ANY RELATED ACCUED INTEREST OR PENALTIES. THE TAX YEARS OPEN TO EXAMINATION BY FEDERAL AND NEW YORK TAXING AUTHORITIES ARE 2013 & 2014 true true false false false false false false false false KIMBERLY TOWNSEND 343848 30322 374170 ELLEN M O'CONNOR 190426 16447 206873 PENNY ABULENCIA 194082 18375 212457 JACK PEASE 37006 128984 5430 20420 42436 149404 DOUGLAS TUCKER 315617 28930 344547 JOHN F HOUCK JR 197850 15958 213808 TWINKLE PATEL 162912 17504 180416 STEFANO VOLZA 189805 1981 191786 JONATHAN COOPER 210913 9874 220787 ROBERT BURBANK 145655 14737 160392 DONNA KELLEY 83219 33276 10734 3880 93953 37156 Pt I Line 4a IN 2014 LORETTO ENTERED INTO RELEASE ARRANGEMENTS RELATED TO PERSONNEL MATTERS COMMITTING TO PAY APPROXIMATELY $30,000 Pt VI, Line 6 THE CORPORATIONS MEMBERS CONSIST OF DESIGNATED MEMBERS AND ELECTED MEMBERS. THE DESIGNATED MEMBERS INCLUDE THE BISHOP OF THE ROMAN CATHOLIC DIOCESE OF SYRACUSE, NEW YORK; THE VICAR GENERAL OF THE ROMAN CATHOLIC DIOCESE OF SYRACUSE, NEW YORK; THE DIRECTOR OF CATHOLIC CHARITIES OF THE ROMAN CATHOLIC DIOCESE OF SYRACUSE, NEW YORK; AND THE CHAIR OF LMC. THE ELECTED MEMBERS ARE VARIOUS CENTRAL NEW YORK COMMUNITY INDIVIDUALS. Pt VI, Line 7a THE MEMBERS HAVE THE POWER TO NAME OTHER MEMBERS OF THE CORPORATION AT ANY ANNUAL SPECIAL MEETING OF THE MEMBERS, OR AS OTHERWISE PERMITTED UNDER THE NOT-FOR-PROFIT CORPORATION LAW OF THE STATE OF NEW YORK. Pt VI, Line 11b BEFORE FILING, A COPY OF FORM 990 WAS REVIEWED BY THE FINANCE COMMITTEE. THE FINANCE COMMITTEE IS COMPRISED OF MEMBERS OF THE BOARD OF TRUSTEES. THE RETURN WAS MADE AVAILABLE TO ALL MEMBERS OF THE COMMITTEE FOR REVIEW PRIOR TO FILING. Pt VI, Line 12c ON AN ANNUAL BASIS THE NOMINATING AND DEVELOPMENT COMMITTEE OF THE LORETTO BOARD OF TRUSTEES REQUESTS ALL TRUSTEES TO COMPLETE A CONFLICT OF INTEREST ASSESSMENT. THE ASSESSMENTS ARE RETURNED TO THE EXECUTIVE OFFICE AND REVIEWED FOR ANY POTENTIAL CONFLICTS. SHOULD A CONFLICT ARISE, TRUSTEES ARE ASKED TO RECUSE THEMSELVES FROM THE DELIBERATIONS AND THE DICISION MAKING PROCESS REGARDING THE TRANSACTION. ADDITIONALLY, ALL EMPLOYEES ARE REQUIRED TO ATTEST ANNUALLY TO A CORPORATE CODE OF CONDUCT WHICH ADDRESS CONFLICT OF INTEREST ISSUES. Pt VI, Line 15a THE COMPENSATION AND BENEFITS COMMITTEE OF THE BOARD OF LORETTO (THE COMMITTEE) IS RESPONSIBLE FOR REVIEWING AND APPROVING PROPOSED COMPENSATION AND BENEFIT ARRANGEMENTS FOR KEY EMPLOYEES (COVERED PERSONS). IN REVIEWING THE REASONABLENESS OF PROPOSED COMPENSATION AND BENEFIT ARRANGEMENTS FOR COVERED PERSONS, THE COMMITTEE CONSIDERS A DETAILED DESCRIPTION OF THE COMPENSATION/BENEFIT ARRANGEMENT RECOMMENDED AND THE REASON FOR THE RECOMMENDATION, INCLUDING EXTERNAL LABOR MARKET DATA AND COMPARABILITY INFORMATION FOR SIMILARLY SITUATED PERSONS AT LIKE ORGANIZATIONS. COMPARABILITY INFORMATION IS OBTAINED FROM INDEPENDENT SOURCES (E.G.,COMPENSATION/BENEFIT CONSULTING FIRM) AND FORM RESEARCH OF PUBLICALLY AVAILABLE DATA (E.G, WAGE AND BENEFIT SURVEY DATA). BOTH EXTERNAL DATA AND INTERNAL FACTORS ARE TAKEN INTO ACCOUNT BY THE COMMITTEE AS IT REVIEWS COMPENSATION AND BENEFIT RECOMMENDATIONS. WHEN MAKING 2014 COMPENSATION DECISIONS, MANAGEMENT BENCHMARKED COMPETITIVE EXECUTIVE COMPENSATION LEVELS USING MULTIPLE INDUSTRY COMPENSATION SURVEYS. IN ADDITION, THE COMPENSATION AND BENEFITS COMMITTEE OF THE BOARD APPROVED ONLY MODEST 2014 SALARY ADJUSTMENTS FOR EXISTING COVERED PERSONS. THE COMMITTEE DOCUMENTS DECISIONS AND THE BASIS FOR DECISIONS REGARDING COMPENSATION AND BENEFIT ARRANGEMENTS FOR COVERED PERSONS IN THE FORM OF MINUTES THAT ARE MAINTAINED FOR ALL MEETINGS OF THE COMMITTEE. COVERED PERSONS ARE EXCLUDED FROM DELIBERATIONS REGARDING RECOMMENDED COMPENSATION AND BENEFIT ARRANGEMENTS. Pt VI, Line 15b SEE PT VI, LINE 15a Pt VI, Line 18 THE ORGANIZATION PROVIDES FORM 990 AS REQUIRED UNDER INTERNAL REVENUE SERVICE REGULATIONS TO THE PUBLIC, UPON REQUEST. Pt VI, Line 19 THE ORGANIZATION PROVIDES OTHER INFORMATION REQUIED UNDER INTERNAL REVENUE SERVICE REGULATIONS TO THE PUBLIC, UPON REQUEST. Pt XII, Line 2c THE LORETTO FINANCE COMMITTEE ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE ORGANIZATION'S AUDIT AND SELECTION OF AN INDEPENDENT AUDITOR. Pt VII, Col (E) KIMBERLY TOWNSEND IS THE PRESIDENT AND CEO OF THE LORETTO ORGANIZATION, WHICH INCLUDES ALL ENTITIES LISTED ON SCHEDULE R. ELLEN O'CONNOR IS CFO OF THE LORETTO ORGANIZATION, WHICH INCLUDES ALL ENTITIES LISTED ON SCHEDULE R. PENNY ABULENCIA IS VICE PRESIDENT OF LORETTO-INDEPENDNET LIVING SERVICES, INC. (LORETTO'S ALL-INCLUSIVE CARE FOR THE ELDERLY) AND IS RESPONSIBLE FOR THE DAY-TO-DAY OPERATIONS AND STRATEGIC PLANNING. STEFANO VOLZA WAS THE FORMER CHIEF OPERATING OFFICER AND VICE PRESIDENT OF HOUSING. JONATHAN COOPER IS THE FORMER VICE PRESIDENT OF HUMAN RESOURCES OF THE LORETTO ORGANIZATION. DOUGLAS TUCKER IS THE MEDICAL DIRECTOR AT LORETTO INDEPENDENT LIVING SERVICES, INC. JOHN F. HOUCK, JR. IS A PHYSICIAN AT LORETTO INDEPENDENT LIVING SERVICES, INC. TWINKEL PATEL IS A PHYSICIAN AT LORETTO INDEPENDENT LIVING SERVICES, INC. ROBERT BURBANK IS THE FORMER VICE PRESIDENT OF INFORMATION TECHNOLOGY. JOHN MURRAY IS CORPORATE CONTROLLER OF THE ENTIRE LORETTO ORGANIZATION, WHICH INCLUDES ALL ENTITIES LISTED ON SCHEDULE R, AND IS RESPOSIBLE FOR OVERSIGHT OF THE FINANCE DEPARTMENT, INCLUDING FINACIAL REPORTING AND BUDGETING. JACK PEASE IS THE ADMINISTRATOR AT LORETTO HEALTH AND REHABILITATION CENTER. DONNA KELLEY IS THE FORMER ADMINISTRATOR AT ROSEWOOD HEIGHT HEALTH CENTER, AN UNRELATED NOT-FOR-PROFIT CORPORATION, THROUGH AN EMPLOYEE LEASE AGREEMENT ENTERED INTO IN 2012 CHRISTINE REILLY IS THE CORPORATE TREASURER OF THE LORETTO ORGANIZATION, WHICH INCLUDES ALL ENTITIES LISTED ON SCHEDULE R. Pt XI LINE 9 THIS NUMBER REPRESENTS PENSION-RELATED CHARGES OTHER THAN NET PERIODIC BENEFIT COST. BERNARDINE APARTMENTS 700 EAST BRIGHTON AVE SYRACUSE NY 13205 161012804 OPERATES LOW INCOME HOUSING FOR THE ELDERLY NY 501C3 9 LORETTO MGN CORP false LORETTO ADULT COMMUNITY INC 700 EAST BRIGHTON AVE SYRACUSE NY 13205 222588128 ASSISTED LIVING PROGRAM NY 501C3 9 LORETTO MGN CORP false LORETTO GERIATRIC COMMUNITY RES 700 EAST BRIGHTON AVE SYRACUSE NY 13205 161234898 COMMUNITY RES FOR MENTALLY DISABLED PERSONS NY 501C3 7 LORETTO MGN CORP false LORETTO INDEPENDENT LIVING SERVICES INC 700 EAST BRIGHTON AVE SYRACUSE NY 13205 161470454 PROGRAM FOR THE ALL INCLUSIVE CARE FOR THE ELDERLY NY 501C3 9 LORETTO REST REALTY CORP false LORETTO SEDGWICK HEIGHTS CORPORATION 700 EAST BRIGHTON AVE SYRACUSE NY 13205 233174823 OPERATE AN ADULT HOME NY 501C3 9 LORETTO MGN CORP false NOTTINGHAM RHCF 700 EAST BRIGHTON AVE SYRACUSE NY 13205 161468624 SKILLED NURSING FACILITY NY 501C3 9 LORETTO MGN CORP false NOTTINGHAM RETIREMENT COMMUNITY INC 700 EAST BRIGHTON AVE SYRACUSE NY 13205 161468628 A SENIOR LIVING COMMUNITY NY 501C3 9 LORETTO MGN CORP false LORETTO PROPERTIES 700 EAST BRIGHTON AVE SYRACUSE NY 13205 222809537 OPERATES & MANAGES REAL PROPERTY USED FOR THE HOUSING & SERVICES NY 501C3 11-TYPE II LORETTO MGN CORP false LORETTO BUCKLEY LANDING 700 EAST BRIGHTON AVE SYRACUSE NY 13205 161429899 OPERATES AN ASSISTED LIVING FACILITY NY 501C3 9 LORETTO MGN CORP false THE LORETTO FOUNDATION 700 EAST BRIGHTON AVE SYRACUSE NY 13205 222339225 CHARITABLE ACTIVITIES THAT BENEFIT THE LORETTO ORGANIZATION NY 501C3 11-TYPE II LORETTO MGN CORP false LORETTO APARTMENTS HOUSING DEVELOPMENT FUND 700 EAST BRIGHTON AVE SYRACUSE NY 13205 161496955 OWNER OF LOW INCOME HOUSING FOR THE ELDERLY NY 501C3 9 LORETTO MGN CORP false LORETTO MALTA MANOR HOUSING DEVELOP FUND CO INC 700 EAST BRIGHTON AVE SYRACUSE NY 13205 161561842 OWNER OF LOW INCOME HOUSING FOR THE ELDERLY NY 501C3 9 LORETTO MGN CORP false LORETTO O'BRIEN ROAD HOUSING DEV FUND CO INC 700 EAST BRIGHTON AVE SYRACUSE NY 13205 161594409 OWNER OF LOW INCOME HOUSING FOR THE ELDERLY NY 501C3 9 LORETTO MGN CORP false CHURCHILL MANOR INC 700 EAST BRIGHTON AVE SYRACUSE NY 13205 161006158 OPERATES AN ASSISTED LIVING FACILITY NY 501C3 9 LORETTO MGN CORP false LORETTO HOUSING DEV FUND CO INC 700 EAST BRIGHTON AVE SYRACUSE NY 13205 223116481 OWNER OF REAL PROPERTY USED FOR THE HOUSING THE ELDERLY NY 501C3 9 LORETTO MGN CORP false LORETTO APARTMENTS AT O'BRIEN ROAD HOUSING DEV FUND CO INC 700 EAST BRIGHTON AVE SYRACUSE NY 13205 462450456 OWNER OF LOW INCOME HOUSING FOR THE ELDERLY NY 501C3 9 LORETTO MGN CORP false LORETTO REST INC 700 EAST BRIGHTON AVE SYRACUSE NY 13205 150532210 PARENT CORP TO VARIOUS LORETTO NOT FOR PROFIT CORP NY 501C3 7 LORETTO MGN CORP false ELBRIDGE ADULT COMMUNITY 700 EAST BRIGHTON AVE SYRACUSE NY 13205 222784983 INACTIVE NY 501C3 9 LORETTO MGN CORP false LORETTO MANAGEMENT CORP 700 EAST BRIGHTON AVE SYRACUSE NY 13205 222873640 ADVISE & ASSIT IN THE COORDINATING OF HEALTH, HOUSING & WELFARE OF THE ELDERLY NY 501C3 11-TYPE II LORETTO MGN CORP false MANDORLA GARDENS HOUSING DEV FUND CO INC 700 EAST BRIGHTON AVE SYRACUSE NY 13205 273993174 CONSTRUCT A FACILITY TO OPERATE AS A TAX EXEMPT SNF NY 501C3 9 LORETTO MGN CORP false LORETTO REST REALTY CORP 700 EAST BRIGHTON AVE SYRACUSE NY 13205 161019465 HEALHCARE & RENTAL OF SPACE FOR HELTHCARE CO NY 501C3 9 LORETTO MGN CORP false LORETTO HEALTH & REHABILITATION CENTER 700 EAST BRIGHTON AVE SYRACUSE NY 13205 200503099 SKILLED NURSING FACILITY NY 501C3 9 LORETTO MGN CORP false ADVANCED INSTITUTIONAL SUPPORT SERVICES LLC 700 EAST BRIGHTON AVE SYRACUSE NY 13205 200424458 PROVIDES FOOD & FOOD SERVICES OPERATIONS NY NA N/A false false BRIGHTON MANAGEMENT SER INC 700 EAST BRIGHTON AVE SYRACUSE NY 13205 161453312 CONSULTING SERVICES NY NA C false false false false false true false false false false false false false false false false true false false false PART V 1e ON AUGUST 15, 2014 ASSI ENTERED INTO A CONSTRUCTION-TO-PERMANENT LOAN AGREEMENT WITH A FINANCIAL INSTITUTION TO PROVIDE BORROWINGS NOT TO EXCCED $20,100,000 FOR CONSTRUCTION AND RENOVATION OF ITS FACILITY. DRAWS UNDER THE CONSTRUCTION LOAN BEAR INTEREST AT 4.50% ABOVE THE ONE MONTH LIBOR RATE (4.65% AT DECEMBER 31, 2014) WITH INTEREST-ONLY PAYMENTS REQUIRED UNDER THE AGREEMENT UNTIL THE DATE THE CONSTRUCTION LOAN IS CONVERTED TO A PERMANENT LOAN. PAYMENTS WILL COMMENCE ON THE EARLIER OF THE EXPIRATION OF THE CONSTRUCTION LOAN PERIOD IN AUGUST 2016 OR THE FIRST PAYMENT DUE DATE FOLLOWING THE FINAL CONSTRUCTION ADVANCE WHICH IS ANTICIPATED TO BE 2016. ACCORDINGLY, THE LOAN HAS BEEN REFLECTED AS LONG-TERM IN THE ACCOMPANYING BALANCE SHEET. PRINCIPAL AND INTEREST WILL BE PAID IN THIRTY-FIVE LEVEL MONTHLY INSTALLMENTS, IF CERTAIN CONDITIONS ARE MET. THESE CONDITIONS INCLUDE, AMONG OTHERS, THAT THERE HAS BEEN NO EVENTS OF DEFAULT UNDER THE AGREEMENT AND ASSI HAS EITHER ENTERED INTO AN INTEREST RATE SWAP ACCEPTABLE TO THE FINANCIAL INSTITUTION OR FIXED THE INTEREST RATE FOR AT LEAST FIFTY PERCENT OF THE OUTSTANDING PRINCIPLE BALANCE. AT THE TIME THAT PRICIPAL PAYMENTS COMMENCE, ASSI HAS THE OPTION OF CHOOSING A FIXED OR FLOATING RATE. THE LOAN IS SECURED BY AN UNLIMITED GUARANTY FROM LMC AND COLLATERALIZED BY $10,000,000 IN SECURITIES HELD BY LMC AND CERTAIN LMC AFFILIATES (THE LORETTO FOUNDATION, CHURCHILL MANOR,INC. AND LORETTO ADULT COMMUNITY, INC.) AMOUNTING TO $7,000,000, A PLEDGE OF $2,000,000 OF SECURITIES HELD BY THE SISTERS IF ST. FRANCIS OF THE NEUMANN COMMUNITIES, FORMER OWNER OF THE CENTER, AND $1,000,000 IN SECURITIES PLEDGED BY THE ALLYN FOUNDATION, INC., AN UNRELATED THIRD PARTY, THROUGH DECEMBER 31,2016.