2013-01-07T15:29:04-06:00 2012-05-31 593070669 MOORE STEPHENS LOVELACE PA 311 PARK PLACE BLVD SUITE 100 CLEARWATER FL 33759 990 2011-06-01 592774476 MORSELIFE FOUNDATION INC MORS 5616875753 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 HONG CHAE 5616875753 2013-01-07 1 MELANIE A MCPEAK P01346034 4077405400 2011 2016-03-07 17:11:31Z KEITH A MYERS 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 18318666 0 X WWW.MORSELIFE.ORG/GIVING X 1987 FL THE MORSELIFE FOUNDATION WAS ORGANIZED EXCLUSIVELY FOR CHARITABLE, EDUCATION AND SCIENTIFIC PURPOSES TO SUPPORT AND ENCOURAGE HEALTH CARE SERVICES THROUGH PROVIDING FINANCIAL AND MANAGEMENT ASSISTANCE TO MORSELIFE RELATED ENTITIES. THE FOUNDATION FULFILLS THIS PURPOSE BY:- SUPERVISING AND CONDUCTING FUNDRAISING FOR CAPITAL EXPANSION OF THE MORSELIFE ENTITIES- RAISING AND MANAGING ENDOWMENT FUNDS FOR THE BENEFIT OF MORSELIFE ENTITIES- PROVIDING INVESTMENT ADVISORY SERVICES TO MORSELIFE ENTITIES- PERFORMING PUBLIC RELATIONS WORK ON BEHALF OF MORSELIFE ENTITIES 12 11 1 12 0 0 2192107 4623544 0 0 991250 2320953 0 0 3183357 6944497 110373 363847 0 0 0 221668 0 0 0 2037923 3144289 2148296 3729804 1035061 3214693 52218134 54975647 25616408 27799953 26601726 27175694 X TO SOLICIT, RECEIVE AND INVEST THE PROCEEDS OF GRANTS, CONTRIBUTIONS, PLEDGES, AND OTHER SUPPORT FROM GOVERNMENTAL ENTITIES AND THE PUBLIC AT LARGE, AND TO SUPPORT ALL AFFILIATED AGENCIES WHOSE SOLE MEMBER IS MORSELIFE, INC., FOR THE PURPOSE OF ENHANCING SENIOR LIVING IN THE SPIRIT OF JEWISH TRADITION. 0 0 2415248 4623544 THE ORGANIZATION SOLICITS AND COLLECTS FUNDS FOR THE BENEFIT OF ITS AFFILIATED TAX-EXEMPT ENTITIES. THE FUNDS ARE GIVEN TO THE AFFILIATES IN SUPPORT OF THEIR TAX-EXEMPT PURPOSE OF PROVIDING SENIOR LIVING ACCOMODATIONS AND HEALTH SERVICES. 2415248 1 1 0 0 0 0 0 0 0 1 1 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 8 0 1 1 1 0 0 0 0 0 0 0 0 0 0 X 12 11 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X KAREN DAVIDSON 5612096108 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 X ARTHUR S LORING 2.00 X X 0 0 0 DAVID MARKIN 2.00 X X 0 0 0 ROY APPLE 2.00 X X 0 0 0 STANLEY KATZ 2.00 X X 0 0 0 ALAN CURTIS 2.00 X 0 0 0 HOWARD GANEK 2.00 X 0 0 0 RICHARD ROTHSCHILD 2.00 X 0 0 0 MITCHELL RUBENSTEIN 2.00 X 0 0 0 TERRI SRIBERG 2.00 X 0 0 0 NORMAN GOLDBLUM 2.00 X 0 0 0 KEITH MYERS 8.00 X X 108358 673219 57484 STANLEY BRENNER 2.00 X 0 0 0 HONG CHAE 8.00 X 0 293927 19356 MARY ALICE PAPPAS 40.00 X 0 270911 28166 108358 1238057 105006 1 0 1 0 WILESMITH ADVERTISING DESIGN 319 CLEMATIS STREET SUITE 710 WEST PALM BEACH FL 33401 ADVERTISING 121742 1 3000000 1623544 4623544 945548 945548 12749574 11374169 1375405 1375405 1375405 6944497 0 0 2320953 363847 363847 206000 206000 15668 15668 374255 374255 37389 37389 36606 36606 580006 580006 64632 64632 962146 962146 8979 8979 FUNDRAISING EXPENSE 1080276 1080276 3729804 2415248 1314556 0 566968 777305 4688836 6463157 1323 11574 232006 59766 112333 172240 41911871 41616267 4936803 5935104 52218134 54975647 387757 353667 22854735 25141602 2373916 2304684 25616408 27799953 X 21377001 21803195 4594725 4567499 630000 805000 26601726 27175694 52218134 54975647 X 3214693 -2640725 X X 0 1 1 X 0 X 2293808 1483385 3619673 2192107 4623544 14212517 2293808 1483385 3619673 2192107 4623544 14212517 5123235 9089282 1075164 780500 325493 378374 945548 3505079 17717596 0.51300 0.35040 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1278968 215759 28634 7192 1516169 1201796 56551 47436 26815 1278968 1126485 46100 36823 7612 1201796 765422 325315 42493 6745 1126485 0.53090 0.46910 0 0 3011 428 2583 228995 59338 169657 172240 INVESTMENT IN REAL ESTATE 156000 F CASH AND CASH EQUIVALENTS 3611106 F U.S. GOVERNMENT OBLIGATIONS 2432512 F CORPORATE BONDS 14026875 F MANAGED EQUITY FUNDS 21389774 F 41616267 ACCRUED INTEREST RECEIVABLE 24015 CASH SURRENDER VALUE OF LIFE INSURA 168408 DEVELOPMENT COSTS 5742681 5935104 ANNUITIES PAYABLE 2252718 DUE TO AFFILIATES 51966 2304684 6944497 3729804 3214693 -2640725 -2640725 573968 4303772 -2640725 -2640725 6944497 0 6944497 3729804 0 3729804 0 3729804 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE FOUNDATION'S SPENDING POLICY OBJECTIVE IS TO ALLOW ITS ENDOWMENT TO GROW AND PROVIDE FUTURE CASH FLOWS FOR OPERATIONS AND OTHER DESIGNATED PURPOSES. 1 LOLA & SAUL KRAMER SENIOR SERVICES AGENCY INC 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 900730105 501(C)(3) 177011 TO PROVIDE FUNDING FOR THE MITZVAH AND MEALS ON WHEELS PROGRAM. THE FUNDING WAS FROM RESTRICTED CONTRIBUTIONS HELD BY THE FOUNDATION FOR THE PURPOSE OF FUNDING THESE TWO PROGRAMS. THE TRADITIONS OF THE PALM BEACHES INC 4920 LORING DRIVE WEST PALM BEACH FL 33417 650888855 501(C)(3) 30261 TO PROVIDE FUNDING FOR RELIGIOUS AND EDUCATIONAL PROGRAMS FOR THE RESIDENTS AND EMPLOYEES OF THE AFFILIATED ENTITY. PROGRAM EXPENSE IS SUPPORT WITH THE EXPENSE DETAIL OBTAINED FROM THE GRANTEE'S FINANCIAL RECORDS. JOSEPH L MORSE GERIATRIC CENTER INC 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 592120896 501(C)(3) 78252 TO PROVIDE FUNDING FOR RELIGIOUS AND EDUCATIONAL PROGRAMS FOR THE RESIDENTS AND EMPLOYEES OF THE AFFILIATED ENTITY. PROGRAM EXPENSE IS SUPPORT WITH THE EXPENSE DETAIL OBTAINED FROM THE GRANTEE'S FINANCIAL RECORDS. 3 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE GRANT FUNDS ARE PROVIDED TO RELATED PARTIES IN WHICH THE MANAGEMENT OFFICIALS ARE THE SAME AS THE FILING ORGANIZATION. THE MONIES ARE USED FOR THEIR INTENDED PURPOSES AS REPORTED WITHIN SCHEDULE I, PART II. X X X X X 0 1 0 0 0 0 1 0 0 KEITH MYERS 108358 465167 0 160000 0 48052 0 40000 0 17484 108358 730703 0 0 HONG CHAE 0 284167 0 0 0 9760 0 1673 0 17683 0 313283 0 0 MARY ALICE PAPPAS 0 270911 0 0 0 0 0 6773 0 21393 0 299077 0 0 PART I, LINE 4B MORSELIFE, INC. MAINTAINS TWO NONQUALIFIED EMPLOYEE DEFERRED COMPENSATION PLANS OPEN TO CERTAIN KEY EMPLOYEES UNDER INTERNAL REVENUE CODE 457(B) AND SECTION 457(F) (COLLECTIVELY, THE 457 PLANS). THE 457 PLANS PROVIDE, AMONG OTHER THINGS, FOR VOLUNTARY CONTRIBUTIONS TO BE MADE BY ELIGIBLE PARTICIPANTS. THESE FUNDS REMAIN THE PROPERTY OF MORSELIFE, INC. AND SUBSIDIARIES. MORSELIFE, INC. AND SUBSIDIARIES HAVE A FIDUCIARY DUTY OF ACCOUNTABILITY FOR THESE FUNDS. KEY EXECUTIVE, KEITH MYERS, PARTICIPATES IN THE DEFERRED COMPENSATION PLAN UNDER IRC SEC. 457(F). JOSEPH L. MORSE GERIATRIC CENTER, INC. MADE CONTRIBUTIONS ON BEHALF OF KEITH MYERS TO THE PLAN IN THE AMOUNT OF $40,000 FOR THE YEAR ENDED MAY 31, 2012. JOSEPH L. MORSE GERIATRIC CENTER, INC. MADE CONTRIBUTIONS ON BEHALF OF THE FOLLOWING LISTED EMPLOYEES THAT PARTICIPATED IN THE DEFERRED COMPENSATION PLAN UNDER IRC SEC. 457(B). CHAE, HONG - $7,389. MYERS, KEITH - $2,131. PAPPAS, MARY ALICE - $13,380. PART I, LINE 6 KEITH MYERS, PRESIDENT AND CEO, HAS AN INCENTIVE/BONUS CLAUSE IN HIS EMPLOYMENT AGREEMENT WITH MORSELIFE, INC. (A RELATED ORGANIZATION). E DREW GACKENHEIMER SEVERANCE PAY X 1058372 287512 0 1 1 287512 FORM 990, PART VI, SECTION A, LINE 6 MORSELIFE, INC. IS THE SOLE MEMBER OF THE MORSELIFE FOUNDATION, INC. FORM 990, PART VI, SECTION A, LINE 7A THE SOLE MEMBER, MORSELIFE, INC., SHALL ELECT BOARD MEMBERS AND AT ANY TIME IN ITS SOLE DISCRETION, REMOVE AND NAME A REPLACEMENT FOR ANY BOARD MEMBER. FORM 990, PART VI, SECTION A, LINE 7B MORSELIFE, INC. IS THE SOLE MEMBER OF THE MORSELIFE FOUNDATION, INC. AND, AS SUCH, ELECTS THE BOARD OF DIRECTORS AND HAS ULTIMATE VOTING AND VETO AUTHORITY OVER BOARD DECISIONS. FORM 990, PART VI, SECTION B, LINE 11 AN AUDIT, COMPLIANCE AND ETHICS COMMITTEE, COMPOSED OF THE CHAIRPERSON OF THE BOARD OF DIRECTORS FROM EACH OF THE MORSELIFE RELATED ORGANIZATIONS AND THE SENIOR VICE PRESIDENT OF FINANCE, IS RESPONSIBLE FOR THE REVIEW OF THE FORM 990. THE CHAIRPERSON OF MORSELIFE, INC. IS THE CHAIRPERSON OF THE COMMITTEE. THIS COMMITTEE MEETS WITH THE OUTSIDE, INDEPENDENT AUDITORS A MINIMUM OF TWO TIMES PER YEAR. IT APPROVES THE AUDITED FINANCIAL STATEMENTS AND REVIEWS COMPLIANCE RELATED MATTERS ON A QUARTERLY BASIS. THE COMMITTEE IS RESPONSIBLE FOR THE DETAILED REVIEW OF ALL FORMS 990 FILED BY THE MORSE RELATED ENTITIES. THE FORM 990 IS MADE AVAILABLE TO THE FULL BOARD OF DIRECTORS OF THE REPORTING ORGANIZATION. THE 990 IS ALSO AVAILABLE UPON REQUEST THROUGHOUT THE YEAR. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REQUIRES ALL BOARD MEMBERS TO SUBMIT A CONFLICT OF INTEREST STATEMENT ON AN ANNUAL BASIS. THE STATEMENTS, WHEN COMPLETED AND RETURNED, ARE REVIEWED BY THE PRESIDENT TO ENSURE THAT THERE ARE NO INADVERTENT CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 MORSELIFE FOUNDATION, INC. IS AN ORGANIZATION CONTROLLED BY MORSELIFE, INC. MORSELIFE, INC.'S COMPENSATION COMMITTEE IS COMPRISED OF THE BOARD MEMBERS. THIS COMMITTEE IS RESPONSIBLE FOR THE SEARCH, SELECTION, CONTRACT NEGOTIATION, PERFORMANCE REVIEWS, BENEFITS, AND ANNUAL SALARY INCREASES OF THE PRESIDENT & CEO POSITION. THE INITIAL CONTRACT NEGOTIATIONS OF THE PRESIDENT & CEO POSITION WERE BASED ON THE COMMITTEE'S REVIEW OF SIMILAR ENTITIES COMPENSATION PACKAGES FOR THE TOP OFFICIAL BASED ON THOSE ENTITIES' PUBLISHED IRS FORM 990. IN ADDITION, THE COMPENSATION COMMITTEE SUBSCRIBES AND PARTICIPATES IN SEVERAL INDEPENDENT SALARY SURVEYS CONDUCTED BY NATIONAL ASSOCIATIONS & OTHER PROVIDER ENTITIES AND UTILIZES THE FINDINGS OF THESE SURVEYS TO ENSURE COMPARABILITY AND APPROPRIATENESS OF THE PRESIDENT/CEO COMPENSATION PACKAGE. THE COMMITTEE MEETS AT LEAST ANNUALLY TO CONDUCT A PERFORMANCE REVIEW OF THE PRESIDENT/CEO. PERFORMANCE IS BASED ON PREVIOUSLY ESTABLISHED METRICS AND BENCHMARKS AND THE ACHIEVEMENT OF THESE GOALS IS THE BASIS FOR FINANCIAL INCENTIVE, BONUS AND ANNUAL SALARY INCREASE. THE COMPENSATION COMMITTEE DOCUMENTS THEIR MEETINGS WITH WRITTEN MINUTES, AS WELL AS MEMOS TO THE SENIOR VICE PRESIDENT OF FINANCE, WITH INSTRUCTIONS REGARDING THE EXECUTIVE COMPENSATION. THE PRESIDENT & CEO OF THE ORGANIZATION IS RESPONSIBLE FOR THE COMPENSATION OF THE MEMBERS OF THE EXECUTIVE TEAM, INCLUDING THE SR. VICE PRESIDENTS AND CHIEF FINANCIAL OFFICER. ANNUAL INCREASES AND BASE SALARY AMOUNTS ARE COMPARED TO THE COMPENSATION PACKAGES FOR SIMILAR POSITIONS UTILIZING OTHER SIMILAR ENTITIES' PUBLISHED IRS FORM 990. IN ADDITION, INDEPENDENT SALARY SURVEYS CONDUCTED BY NATIONAL ASSOCIATIONS & OTHER PROVIDER ENTITIES ARE UTILIZED TO ENSURE COMPARABILITY AND APPROPRIATENESS. THE PRESIDENT & CEO REPORTS ON THE ANNUAL INCREASE, SALARY ADJUSTMENT, AND/OR CHANGE IN BENEFIT PACKAGE FOR THE EXECUTIVE TEAM MEMBERS TO THE COMPENSATION COMMITTEE MADE UP OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. AVERAGE HOURS PER WEEK FORM 990, PART VII (B) THE CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER PROVIDE SERVICE FOR ALL RELATED ORGANIZATIONS. IN TOTAL, THEY WORK AN AVERAGE OF 50 HOURS PER WEEK FOR THEIR RESPECTIVE POSITIONS. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -2,640,725. OVERSIGHT OF AUDIT AND SELECTION OF INDEPENDENT ACCOUNTANT FORM 990, PART XII, LINE 2C THE ORGANIZATION'S AUDIT, COMPLIANCE AND ETHICS COMMITTEE IS RESPONSIBLE FOR THE SELECTION, MONITORING AND EVALUATION OF AN INDEPENDENT ACCOUNTING FIRM AND OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS. THERE WAS NO CHANGE IN THIS PROCESS FROM THE PRIOR YEAR. THE TRADITION OF THE PALM BEACHES INC 4920 LORING DRIVE WEST PALM BEACH FL 33417 650888855 OPERATES A SENIOR LIVING COMMUNITY WITH FULL HEALTH SERVICES FL 501(C)(3) LINE 9 MORSELIFE INC 0 NEARLY NEW THRIFT SHOP OF MORSE GERIATRIC INC 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 592533256 RAISES FUNDS TO SUPPORT AFFILIATED TAX-EXEMPT ENTITIES FL 501(C)(3) LINE 11B, II MORSELIFE INC 0 MORSELIFE INC 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 650018299 PROVIDES HEALTH CARE, HOUSING AND SUPPORT SERVICES TO SENIORS FL 501(C)(3) LINE 11C, III-FI N/A 0 JOSEPH L MORSE GERIATRIC CENTER INC 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 592120896 OWNS AND OPERATES OF A 280 BED SKILLED NURSING FACILITY FL 501(C)(3) LINE 9 MORSELIFE INC 0 LOLA & SAUL KRAMER SENIOR SERVICES AGENCY INC 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 900730105 PROVIDES COMMUNITY BASED AND OTHER SERVICES TO SENIORS FL 501(C)(3) LINE 9 MORSELIFE INC 0 FRIENDS OF MORSELIFE INC 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 650329966 RAISES FUNDS TO SUPPORT AFFILIATED TAX-EXEMPT ENTITIES FL 501(C)(3) LINE 7 MORSELIFE INC 0 MORSELIFE HOME CARE INC 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 592753822 PROVIDES ADULT DAY CARE, HOME HEALTH AND OTHER SERVICES TO SENIORS FL 501(C)(3) LINE 9 MORSELIFE INC 0 MORSELIFE THERAPY CORPORATION 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 800730376 PROVIDES THERAPY SERVICES TO SENIORS FL 501(C)(3) LINE 9 MORSELIFE HOME CARE INC 0 MORSELIFE CLINICAL STAFFING CORPORATION 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 900729778 PROVIDES HEALTHCARE STAFFING TO AGENCIES IN THE WEST PALM BEACH AREA FL MORSELIFE HOME CARE INC C 0 1 1 1 1 0 0 0 0 0 0 1 0 0 1 0 1 0