2013-05-15T15:14:04-05:00 2012-06-30 043037870 BOLLUS LYNCH LLP 89 SHREWSBURY STREET WORCESTER MA 01604 990 2011-07-01 911969322 SEVEN HILLS FOUNDATION INC & AFFILIATES SEVE 5087552340 81 HOPE AVENUE WORCESTER MA 01603 JOSEPH L TOSCHES 5087552340 2013-05-13 1 BARBARA E KING P00005629 5087557107 2013-05-13 2011 2016-02-24 21:20:13Z DR JOSEPH L TOSCHES DBA 81 HOPE AVENUE WORCESTER MA 01603 150057732 1 1 3444 X WWW.SEVENHILLS.ORG X 1953 MA THE MISSION OF THE SEVEN HILLS FOUNDATION IS TO PROMOTE AND ENCOURAGE THE EMPOWERMENT OF PEOPLE WITH SIGNIFICANT CHALLENGES SO THAT EACH MAY PURSUE THEIR HIGHEST POSSIBLE DEGREE OF PERSONAL WELL-BEING AND INDEPENDENCE. 18 18 4223 500 -456267 0 743562 896391 140073513 137589422 505748 2812048 1546426 2644154 142869249 143942015 95875 75927 0 0 83857767 89467795 0 0 69032 55967614 54238115 139921256 143781837 2947993 160178 139174963 141508406 92600888 96859108 46574075 44649298 X THE MISSION OF THE SEVEN HILLS FOUNDATION IS TO PROMOTE AND ENCOURAGE THE EMPOWERMENT OF PEOPLE WITH SIGNIFICANT CHALLENGES SO THAT EACH MAY PURSUE THEIR HIGHEST POSSIBLE DEGREE OF PERSONAL WELL-BEING AND INDEPENDENCE. 1 1 44671627 47133516 RESIDENTIAL PROGRAMS: TO PREPARE AND INSTRUCT INDIVIDUALS WITH DEVELOPMENTAL DISABILITIES TO ACHIEVE THE LEAST RESTRICTIVE ENVIRONMENT. 16843721 17015205 CHILDRENS AID AND FAMILY SERVICES: TO PROVIDE DAY CARE, INFORMATION & REFERRAL, AND COUNSELING SERVICES TO CHILDREN AND THEIR FAMILIES. 22973757 22219408 SEVEN HILLS RHODE ISLAND: TO PROVIDE ADULT SERVICES, RESIDENTAL SERVICES, INDEPENDENT LIVING; AND CHILD AND FAMILY SERVICE PROGRAMS TO INDIVIDUALS WITH DEVELOPMENTAL DISABILITIES 50086181 75927 58431476 OTHER PROGRAM SERVICES INCLUDE: FAMILY SUPPORT, VOCATIONAL TRAINING, COMMUNITY ORIENTATION, DAY HAB, SPECIALIZED HOME CARE, PEDIATRIC NURSING HOME SERVICES, SCHOOL SERVICES, AND BEHAVIORAL HEALTH SERVICES. 50086181 75927 58431476 134575286 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 0 0 1 1 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 1 1 1 0 0 1 X 138 28 1 4223 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 18 18 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 0 1 1 MA RI X MICHAEL P MATTHEWS CFO 5087552340 81 HOPE AVENUE WORCESTER MA 01603 TAMMY MURRAY 2.00 X 0 0 0 MAUREEN F BINIENDA 2.00 X 0 0 0 BRIAN R FORTS 2.00 X 0 0 0 MELVIN P GORDON 2.00 X 0 0 0 ARLENE LIAN 2.00 X 0 0 0 ROBERT L MAHAR 2.00 X 0 0 0 ROBIN RHODES 2.00 X 0 0 0 DEBORAH J NEEDLEMAN 2.00 X 0 0 0 DAVID PAYDARFAR 2.00 X 0 0 0 JOHN M PROSSER 2.00 X 0 0 0 MARIANNE E ROGERS 2.00 X 0 0 0 CLAIRE M SWAN 2.00 X 0 0 0 LYNN EARLY RUSHTON 2.00 X 0 0 0 JEANNE ANTONUCCI 2.00 X 0 0 0 JOHN HEALY 2.00 X 0 0 0 ELLEN AMADIO-AUBUCHON 2.00 X 0 0 0 STEPHEN BLACK 2.00 X 0 0 0 DIANE BRAZELTON 2.00 X 0 0 0 JAMES BUSS 2.00 X 0 0 0 HELEN GARCIA 2.00 X 0 0 0 MAUREEN R GRAY 2.00 X 0 0 0 DAVID GREENWOOD 2.00 X 0 0 0 JOSEPH GUNTHER 2.00 X 0 0 0 DR MARK HASSO 2.00 X 0 0 0 DEBRA HOKKANEN 2.00 X 0 0 0 ELLEN HONEYMAN 2.00 X 0 0 0 LOUISE JANHUNEN 2.00 X 0 0 0 PAUL G KALMANSSON ESQ 2.00 X 0 0 0 MARION MAHAR 2.00 X 0 0 0 DAVID MASIELLO 2.00 X 0 0 0 TODD MCDONALD 2.00 X 0 0 0 RUTH MELANCON 2.00 X 0 0 0 JONI MILLUZZO 2.00 X 0 0 0 HONORABLE RICHARD T MOORE 2.00 X 0 0 0 JOHN MUGGERIDGE 2.00 X 0 0 0 STEVE NELSON 2.00 X 0 0 0 JOSEPH NUNES 2.00 X 0 0 0 DR BENJAMIN NWOSU 2.00 X 0 0 0 JAMES PATTERSON 2.00 X 0 0 0 FRANCIS POLITO 2.00 X 0 0 0 KARYN POLITO 2.00 X 0 0 0 DAVID W RODGERS 2.00 X 0 0 0 PAULA ROSENBLUM 2.00 X 0 0 0 DEBORAH PENTA 2.00 X 0 0 0 PATRICIA RUGG 2.00 X 0 0 0 DR PETER RUGG 2.00 X 0 0 0 DOUGLAS RUSSEL JR 2.00 X 0 0 0 R JOSEPH SALOIS 2.00 X 0 0 0 DR JENNIFER SCHOTT 2.00 X 0 0 0 KAREN SHORTSLEEVE 2.00 X 0 0 0 DAVID SIMON 2.00 X 0 0 0 EILEEN SPORING 2.00 X 0 0 0 PETER STANTON 2.00 X 0 0 0 BERNIE STEPHENS 2.00 X 0 0 0 C PARKER SWAN 2.00 X 0 0 0 DAVID TOBIN 2.00 X 0 0 0 DR PHILIP TOWNES 2.00 X 0 0 0 JOANNE TULONEN 2.00 X 0 0 0 JO-ANN WHELAN 2.00 X 0 0 0 DR FRANCIS A WHITE 2.00 X 0 0 0 KELSA ZERESKI 2.00 X 0 0 0 OWEN L WILLIAMS 2.00 X 0 0 0 MORGAN DYKSTAR 2.00 X 0 0 0 GARY LAMSON 2.00 X 0 0 0 CHARLES AUSTIN 2.00 X 0 0 0 JAMIE ROTMAN 2.00 X 0 0 0 JOHN N ALTOMARE ESQ 2.00 X 0 0 0 ARLENE BETTERIDGE 2.00 X 0 0 0 JOSEPH J BEVILACQUA PHD 2.00 X 0 0 0 JOHNATHAN CAREY 2.00 X 0 0 0 CHRIS CIOCIOLO 2.00 X 0 0 0 THOMAS CULLINANE 2.00 X 0 0 0 BRIAN DONOVAN 2.00 X 0 0 0 KATE ROY SULLIVAN PHD 2.00 X 0 0 0 ROBERT JOHNSON 2.00 X 0 0 0 HANNAH KANE 2.00 X 0 0 0 DR CAMILLE ROBERTS 2.00 X 0 0 0 DR DAVID A JORDAN DHA 40.00 X 369789 0 171362 DR JOSEPH L TOSCHES DBA 40.00 X 320299 0 39670 MICHAEL MATTHEWS 40.00 X 116125 0 11012 KATHLEEN REVILLE 40.00 X 163980 0 0 RICARDO DANCEL MD 40.00 X 208600 0 0 RICHARD G NECKES 40.00 X 158839 0 0 KATHARINE CLEARY 40.00 X 154423 0 14966 GOURI DATTA 40.00 X 230079 0 0 DONALD MARTEL 40.00 X 121286 0 10910 KARIN OBRIEN 40.00 X 125200 0 0 LEIGHTON KENNEDY 40.00 X 118235 0 0 HOLLY JAREK 40.00 X 117912 0 10693 2204767 0 258613 12 0 1 0 CONSIGLI CONSTRUCTION CO 72 SUMMER STREET MILFORD MA 01757 CONSTRUCTION CONTRACTOR 1383650 CARUSO & MCGOVERN ONE INDUSTRIAL WAY GEORGETOWN MA 01833 CONSTRUCTION CONTRACTOR 442434 GROUP 7 DESIGN 83 CEDAR ST SUITE 100 MILFORD MA 01757 ARCHITECTURAL DESIGN 432977 APEX COMMUNICATIONS PO BOX 263 ANDOVER MA 01810 IT 419274 RAMSAY BARRETT 167 BOSTON TURNPIKE SHREWSBURY MA 01545 CONSTRUCTION CONTRACTOR 320000 5 896391 215000 896391 FEES/CONTRACT GOV AGEN 623990 101626515 101626515 MEDICARE/MEDICAID 623990 25638714 25638714 PRIVATE CONTRACT FEES 623990 4835697 4835697 RENT, VENDING, SERVICE 623990 4242326 4242326 HUD RENTAL SUBSIDY 623990 629420 629420 616750 616750 137589422 383579 383579 3501772 3730952 3515874 1288381 -14102 2442571 2428469 65900 2362569 1603215 1311462 291753 291753 OTHER REVENUE 623990 2376802 2808668 -431866 LLC TAXABLE LOSS 900099 -24401 -24401 2352401 143942015 140755743 -456267 2746148 75927 75927 1722134 1722134 71183599 67295644 3887955 10260523 9246609 1013914 6301539 5997461 304078 180800 59221 121579 129215 25865 103350 225727 29781 195946 4678313 4432086 246227 7305988 6862317 443671 3526869 3390266 136603 315979 63483 252496 3404009 2997157 406852 3626751 3430419 196332 708994 664235 44759 CHILD CARE VOUCHER PAYM 14253510 14253510 SPECIALIZED HOME CARE 9484755 9484755 MISCELLANEOUS 3800724 2368704 1432020 CLINICAL CONSULTANTS 2527449 2175712 351737 69032 69032 143781837 134575286 9137519 69032 20605783 16477921 51296 10695 12217685 14508128 445000 250000 377325 562175 119343396 30331256 85290565 89012140 14261329 14736647 1087433 662031 4838547 5288669 139174963 141508406 17311598 11338630 65303208 75224074 6708463 6645506 3277619 3650898 92600888 96859108 X 46000650 43903802 356712 528783 216713 216713 46574075 44649298 139174963 141508406 X 160178 -2084955 X 0 0 1 1 1 X 1413834 5616180 828943 743562 896391 9498910 113142894 131033482 140391146 141735964 137589422 663892908 87876 87876 87876 29292 29292 322212 114644604 136737538 141307965 142508818 138515105 673714030 0 0 0 673714030 1200801 856606 414495 371376 383579 3226857 1200801 856606 414495 371376 383579 3226857 984000 825655 853977 1309756 3973388 116829405 138419799 142576437 144189950 138898684 680914275 0.98940 0.98650 0.00470 0.00640 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 13212750 -1094644 12118106 10759106 2453644 13212750 9273195 1485911 10759106 11286658 -2013463 9273195 0.98200 0.01800 0 0 11566353 11566353 91057435 24680246 66377189 13955654 5651010 8304644 2763954 2763954 89012140 DEFERRED COMPENSATION LIABILITY 3650898 3650898 143942015 143781837 160178 -478272 -1606683 -2084955 -1924777 143168521 -478272 -295222 -773494 143942015 0 143942015 145093298 1311461 1311461 143781837 0 143781837 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE FOUNDATION'S ENDOWMENT CONSISTS OF FUNDS DESIGNATED BY THE BOARD OF DIRECTORS TO FUNCTION AS ENDOWMENTS. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED OR LEGAL RESTRICTIONS. THE BOARD OF DIRECTORS HAS INTERPRETED STATE LAW AS ALLOWING THE UTILIZATION OF APPRECIATION ON PERMANENTLY RESTRICTED ASSETS UNLESS EXPLICIT DONOR STIPULATIONS SPECIFY HOW NET APPRECIATION MUST BE USED. AS A RESULT OF THIS INTERPRETATION, THE FOUNDATION CLASSIFIES AS PERMANENTLY RESTRICTED NET ASSETS (A) THE ORIGINAL VALUE OF GIFTS DONATED TO THE PERMANENT ENDOWMENT, (B) THE ORIGINAL VALUE OF SUBSEQUENT GIFTS TO THE PERMANENT ENDOWMENT, AND (C) ACCUMULATIONS TO THE PERMANENT ENDOWMENT MADE IN ACCORDANCE WITH THE DIRECTION OF THE APPLICABLE DONOR GIFT INSTRUMENT AT THE TIME THE ACCUMULATION IS ADDED TO THE FUND. THE REMAINING PORTION OF THE DONOR-RESTRICTED ENDOWMENT FUND THAT IS NOT CLASSIFIED IN PERMANENTLY RESTRICTED NET ASSETS IS CLASSIFIED AS TEMPORARILY RESTRICTED NET ASSETS UNTIL THOSE AMOUNTS ARE APPROPRIATED FOR EXPENDITURE BY THE FOUNDATION IN A MANNER CONSISTENT WITH THE STANDARD OF PRUDENCE PRESCRIBED BY STATE LAW. THE FOUNDATION HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ITS BOARD-DESIGNATED ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING FOR ITS PROGRAMS WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. UNDER THIS POLICY, AS APPROVED BY THE BOARD, THE FOUNDATION'S INVESTMENT COMMITTEE SHALL SEEK TO INVEST THE ENDOWMENT FUNDS IN SUCH A MANNER THAT THE INVESTMENTS WILL PROVIDE A SPENDABLE RETURN CONSISTENT WITH A LONG-TERM GOAL OF PRESERVING THE FUNDS IN REAL TERMS. ACTUAL RETURNS IN ANY GIVEN YEAR MAY VARY FROM THIS AMOUNT. TO SATISFY ITS LONG-TERM RATE-OF-RETURN OBJECTIVES, THE FOUNDATION RELIES ON A TOTAL RETURN STRATEGY IN WHICH INVESTMENT RETURNS ARE ACHIEVED THROUGH BOTH CAPITAL APPRECIATION (REALIZED AND UNREALIZED) AND CURRENT YIELD (INTEREST AND DIVIDENDS). THE FOUNDATION HAS INVESTED IN DEBT AND EQUITY SECURITIES THAT TARGET A DIVERSIFIED ASSET ALLOCATION THAT PLACES A GREATER EMPHASIS ON EQUITY-BASED INVESTMENTS TO ACHIEVE ITS LONG-TERM RETURN OBJECTIVES WITHIN PRUDENT RISK CONSTRAINTS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE FOUNDAITON QUALIFIES AS A TAX-EXEMPT, NONPROFIT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR FEDERAL INCOME TAX IS REQUIRED. MANAGEMENT ANNUALLY REVIEWS FOR UNCERTAIN TAX POSITIONS ALONG WITH ANY RELATED INTEREST AND PENALTIES AND BELIEVES THAT THE FOUNDATION HAS NO UNCERTAIN TAX POSITIONS THAT WOULD HAVE A MATERIAL ADVERSE EFFECT, INDIVIDUALLY OR IN THE AGGREGATE UPON THE FOUNDATION'S STATEMENTS OF FINANCIAL POSITION, OR THE RELATED STATEMENTS OF ACTIVITIES, OR CASH FLOW. THE FOUNDATION FILES INCOME TAX RETURNS IN THE U.S. FEDERAL JURISDICTION. THE FOUNDAITON IS NO LONGER SUBJECT TO U.S. FEDERAL INCOME TAX EXAMINATION BY TAX AUTHORITIES FOR YEARS BEFORE 2009. PART XI, LINE 8 - OTHER ADJUSTMENTS: UNREALIZED LOSS ON HEDGING INSTRUMENT -504,621. IMPAIRMENT OF GOODWILL -1,102,062. TOTAL TO SCHEDULE D, PART XI, LINE 8: -1,606,683. PART XII, LINE 2D - OTHER ADJUSTMENTS: GAMING EXPENSES 1,311,461. UNREALIZED LOSS ON HEDGING INSTRUMENT -504,621. BOOK TO TAX DIFFERENCE RELATED TO LLC EARNINGS -1,102,062. PART XIII, LINE 2D - OTHER ADJUSTMENTS: GAMING EXPENSES 1,311,461. 0 NORTH KINANGOP, KENYA 0 0 GRANTS 6000 BO, SIERRA LEONE 0 0 GRANTS 38674 ACCRA, GHANA 0 0 GRANTS 10500 KHULA, BANGLADESH 0 0 GRANT 13253 LA GONAVE, HAITI 0 0 GRANTS 4500 LOMA LINDA, GUATEMALA 0 0 GRANTS 3000 0 0 0 0 0 0 75927 0 75927 X BO,SIERRA LEONE CLINICAL 33332 WIRE TRANSFER 5342 VACCINE REFRIGERATOR BOOK NORTH KINANGOP, KENYA CLINICAL 6000 WIRE TRANSFER N/A BOOK ACCRA, GHANA CLINICAL 10500 WIRE TRANSFER N/A BOOK KHULA, BANGLADESH CLINICAL 13253 WIRE TRANSFER N/A BOOK 4 0 0 0 0 0 0 PROCEDURE FOR MONITORING GRANTS OUTSIDE THE U.S.: SCHEDULE F, PART I, LINE 2: THERE IS A COMPREHENSIVE MONITORING AND EVALUATION SYSTEM FOR OUTCOME BASED DEVELOPMENT MONITORING AS WELL AS BI-ANNUAL PROGRESS REPORTS AND ANNUAL BUDGET REVIEWS. 1468612 1041296 237046 1 1.00000 134603 33120 1 1.00000 1603215 1041296 270166 1311462 291753 MA 1 0 0 0 1.00000 JOSEPH TOSCHES SEVEN HILLS FOUNDATION 81 HOPE AVEN WORCESTER MA 01603 0 JOSEPH TOSCHES 0 MANAGER OF EVENTS X 1 X X X X 0 1 0 0 0 0 0 0 0 DR DAVID A JORDAN DHA 353302 0 0 0 16487 0 157632 0 13730 0 541151 0 0 0 DR JOSEPH L TOSCHES DBA 312757 0 0 0 7542 0 23500 0 16170 0 359969 0 0 0 KATHLEEN REVILLE 162546 0 0 0 1434 0 0 0 0 0 163980 0 0 0 RICARDO DANCEL MD 208600 0 0 0 0 0 0 0 0 0 208600 0 0 0 RICHARD G NECKES 158839 0 0 0 0 0 0 0 0 0 158839 0 0 0 KATHARINE CLEARY 154423 0 0 0 0 0 14966 0 0 0 169389 0 0 0 GOURI DATTA 230079 0 0 0 0 0 0 0 0 0 230079 0 0 0 PART I, LINE 4B DAVID A. JORDAN - DEFINED BENEFIT PLAN & DEFERRED COMPENSATION $157,632 JOSEPH L. TOSCHES - DEFINED BENEFIT PLAN $23,500 MICHAEL MATTHEWS - DEFERRED COMPENSATION $11,012 KATHARINE CLEARY - DEFERRED COMPENSATION $14,966 DONALD MARTEL - DEFERRED COMPENSATION $10,910 HOLLY JAREK - DEFERRED COMPENSATION $10,693 THE EMPLOYER CONTRIBUTES THESE DEFERRED COMPENSATION PAYMENTS TO A NON QUALIFIED INELIGIBLE 457(F) PLAN. THESE AMOUNTS CONTRIBUTED INTO THE 457(F) PLAN ARE NOT VESTED AND ARE SUBJECT TO SUBSTANTIAL RISK OF FORFEITURE IN THE EVENT THAT EMPLOYEES DO NOT FULFIL THEIR OBLIGATIONS OF THEIR EMPLOYMENT WITH THE ORGANIZATION. MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 2008-09-01 12000000 FINANCE/REFINANCE CAPITAL PROJECTS 0 0 0 MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 2008-09-01 5500000 FINANCE/REFINANCE CAPITAL PROJECTS 0 0 0 MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 2005-07-01 24285000 FINANCE/REFINANCE CAPITAL PROJECTS 0 0 0 MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 2011-12-29 8051000 FINANCE/REFINANCE CAPITAL PROJECTS 0 0 0 12000000 381002 11715020 2010 0 0 1 1 5500000 171175 5305712 2010 0 0 1 1 23300000 1588244 765886 22750329 2007 0 0 1 1 8051000 278350 7075135 814769 2013 0 0 1 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 1 1 TD BANK 5.000000000000 0 0 0 0 0 0 1 1 TD BANK 10.000000000000 0 0 0 0 0 0 0 0 0 0 0 0 1 1 TD BANK 4.000000000000 0 0 0 0 0 MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 2012-06-01 3555000 FINANCE/REFINANCE CAPITAL PROJECTS 0 0 0 3555000 119268 3197063 286837 2013 0 0 1 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 1 0 0 0 0 LUANNE PERRY SIBLING-SISTER OF JOSEPH TOSCHES 328687 ARCHITECTURAL SERVICES 0 LUANNE PERRY SIBLING-SISTER OF JOSEPH TOSCHES 7507 INTEREST EXPENSE 0 LUANNE PERRY SIBLING-SISTER OF JOSEPH TOSCHES 10000 MANAGEMENT FEE EXPENSE 0 X 1 215000 FMV 0 1 0 NEW PROGRAM SERVICES FORM 990, PART III, LINE 2 DURING 2012, THE FOUNDATION SOLD ITS INTEREST IN AN UNCONSOLIDATED AFFILIATE AND ALSO ACQUIRED AN ENTITY. CHANGES IN PROGRAM SERVICES FORM 990, PART III, LINE 3 DURING 2012, THE FOUNDATION ACQUIRED AN ENTITY AND PERFORMED AN EVALUATION OF THE ONGOING VALUE OF GOODWILL ASSOCIATED WITH THIS ACQUISITION. BASED ON THE EVALUATION, THE FOUNDATION DETERMINED THAT ASSETS WITH A CARRYING VALUE OF $1,126,463 WERE IMPAIRED. NO FUTURE CASH FLOWS WERE EXPECTED TO BE GENERATED BY THIS ENTITY AND ACCORDINGLY, THE ASSETS WERE WRITTEN OFF IN 2012. EXPLANATION FOR NOT FILING FORM 990-T FORM 990, PART V, LINE 3B FILED BY AFFILIATE SEVEN HILLLS FOUNDATION (EIN #04-329659). FORM 990, PART VI, SECTION B, LINE 11 THE BOARD OF DIRECTORS, CEO, CFO, AND COO WILL REVIEW IT PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS REVIEWS THE ORGANIZATION'S CONFLICT OF INTEREST POLICY ANNUALLY IN ORDER TO ENSURE THAT THE ORGANIZATION'S BOARD OF DIRECTORS, OFFICERS, AND EMPLOYEES ARE REGULARLY AND CONSISTENTLY MONITORING AND ENFORCING IT. FORM 990, PART VI, SECTION B, LINE 15A THE PROCESS FOR DETERMINING COMPENSATION FOR THE TOP TWO EMPLOYEES INCLUDED AN INDEPENDENT STUDY BY AN OUTSIDE AGENCY. 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -478,272. UNREALIZED LOSS ON HEDGING INSTRUMENT -504,621. IMPAIRMENT OF GOODWILL -1,102,062. TOTAL TO FORM 990, PART XI, LINE 5: -2,084,955. SEVEN HILLS FAMILY SERVICES INC 81 HOPE AVENUE WORCESTER MA 01603 043293665 EMPOWERMENT OF PEOPLE WITH SIGNIFICANT CHALLENGES MA 501(C)(3) 0 SEVEN HILLS COMMUNITY SERVICES INC 81 HOPE AVENUE WORCESTER MA 01603 043125422 EMPOWERMENT OF PEOPLE WITH SIGNIFICANT CHALLENGES MA 501(C)(3) 0 SEVEN HILLS OCCUPATIONAL & REHABILITATION SERVICES INC 81 HOPE AVENUE WORCESTER MA 01603 042274992 EMPOWERMENT OF PEOPLE WITH SIGNIFICANT CHALLENGES MA 501(C)(3) 0 SEVEN HILLS DISABILITY & ADVOCACY INC 81 HOPE AVENUE WORCESTER MA 01603 042522064 EMPOWERMENT OF PEOPLE WITH SIGNIFICANT CHALLENGES MA 501(C)(3) 0 WAARC REALTY INC 81 HOPE AVENUE WORCESTER MA 01603 042862244 EMPOWERMENT OF PEOPLE WITH SIGNIFICANT CHALLENGES MA 501(C)(3) 0 SEASIDE EDUCATIONAL ASSOCIATES INC 81 HOPE AVENUE WORCESTER MA 01603 042669835 EMPOWERMENT OF PEOPLE WITH SIGNIFICANT CHALLENGES MA 501(C)(3) 0 IFS FISCAL INTERMEDIARY INC 81 HOPE AVENUE WORCESTER MA 01603 043527672 EMPOWERMENT OF PEOPLE WITH SIGNIFICANT CHALLENGES MA 501(C)(3) 0 SEVEN HILLS BEHAVIOR HEALTH INC 81 HOPE AVENUE WORCESTER MA 01603 042173052 EMPOWERMENT OF PEOPLE WITH SIGNIFICANT CHALLENGES MA 501(C)(3) 0 SEVEN HILLS EXTENDED CARE AT GROTON INC 81 HOPE AVENUE WORCESTER MA 01603 200172796 EMPOWERMENT OF PEOPLE WITH SIGNIFICANT CHALLENGES MA 501(C)(3) 0 SEVEN HILLS RHODE ISLAND INC 81 HOPE AVENUE WORCESTER MA 01603 056013789 EMPOWERMENT OF PEOPLE WITH SIGNIFICANT CHALLENGES MA 501(C)(3) 0 SEVEN HILLS GLOBAL OUTREACH 81 HOPE AVENUE WORCESTER MA 01603 263273731 EMPOWERMENT OF PEOPLE WITH SIGNIFICANT CHALLENGES MA 501(C)(3) 0 SEVEN HILLS CLINICAL ASSOCIATES INC 81 HOPE AVENUE WORCESTER MA 01603 020627442 EMPOWERMENT OF PEOPLE WITH SIGNIFICANT CHALLENGES MA 501(C)(3) 0 INDIVIDUAL & FAMILY SUPPORT CENTERS INC 81 HOPE AVENUE WORCESTER MA 01603 042492493 EMPOWERMENT OF PEOPLE WITH SIGNIFICANT CHALLENGES MA 501(C)(3) 0 CHILDRES AID & FAMILY SERVICE INC 81 HOPE AVENUE WORCESTER MA 01603 042161932 EMPOWERMENT OF PEOPLE WITH SIGNIFICANT CHALLENGES MA 501(C)(3) 0 GROUP 7 DESIGN INC 83 CEDAR STREET MILFORD MA 01757 261688975 ARCHITECTURAL DESIGN MA N/A S -10152 268658 0.49900 SEQUEST TECHNOLOGIES 801 WARRENVILLE ROAD SUITE 350 LISLE IL 60532 262699564 COMPUTER SERVICES IL N/A C -431866 EMPIRICAL ASSET MANAGEMENT LLC ONE HOLLIS STREET WELLESLEY MA 02482 273376835 ASSET MANAGEMENT MA C -14249 393373 0.05000 1 0 0 1 0 0 1 0 0 0 1 0 0 0 0 0 0 0 GROUP 7 DESIGN INC A 7507 BOOK GROUP 7 DESIGN INC D 250000 BOOK GROUP 7 DESIGN INC K 10000 BOOK SEQUEST TECHNOLOGIES INC A 8278 BOOK