2013-05-14T10:56:41-07:00 2012-06-30 990 2011-07-01 341788055 MONTEFIORE FOUNDATION MONT 2163609080 One David N Myers Pkwy Beachwood OH 44122 Mark Weiss 2169102640 2013-05-14 2011 2016-02-24 21:20:13Z Mark Weiss One David N Myers Pkwy Beachwood OH 44122 1032422 0 X www.montefiorecare.org X 1994 OH The Montefiore Foundation was established to preserve endowment funds, to provide for proper investment of endowment funds, to allocate funds to Montefiore in accordance with its needs and donors wishes, to increase charitable support through endowment and other fundraising, and to increase community awareness and support. 26 26 4 28 0 0 1600259 874225 0 0 83900 101793 49320 44265 1733479 1020283 1106552 1106405 0 0 254760 257223 0 0 132889 85320 75692 1446632 1439320 286847 -419037 15646726 14487287 733110 607464 14913616 13879823 The Montefiore Foundation was established to preserve endowment funds, to provide for proper investment of endowment funds, to allocate funds to Montefiore in accordance with its needs and donors wishes, to increase charitable support through endowment and other fundraising, and to increase community awareness and support. 0 0 1106405 1106405 0 The Montefiore Foundation was established to preserve endowment funds, to provide for proper investment of endowment funds, to allocate funds to Montefiore in accordance with its needs and donors wishes, to increase charitable support through endowment and other fundraising, and to increase community awareness and support. 0 0 0 1106405 1 1 0 0 0 0 0 0 0 1 1 1 0 1 1 1 1 1 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 4 1 0 0 0 0 0 1 1 0 0 0 0 X 26 26 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 OH X Mark Weiss 2169102640 One David N Myers Pkwy Beachwood OH 44122 Kenneth G Hochman 0 X X 0 0 0 Philip S Sims 0 X X 0 0 0 Mark A Mintz 0 X X 0 0 0 Harriet L Fader 0 X X 0 0 0 Jeffrey S Davis 0 X X 0 0 0 Elaine H Rocker 0 X 0 0 0 Bette G Braff 0 X 0 0 0 Robert A Fuerst 0 X 0 0 0 Stuart A Gertman 0 X 0 0 0 Gerald W Goldberg 0 X 0 0 0 Harley I Gross 0 X 0 0 0 Andrew W Hoffmann 0 X X 0 0 0 Nancy S Hyams 0 X 0 0 0 Lawrence Kadis 0 X 0 0 0 Richard Kaplan 0 X 0 0 0 Edith D Miiller 0 X 0 0 0 Elmer I Paull 0 X 0 0 0 Steven S Willensky 0 X 0 0 0 Darrell A Young 0 X 0 0 0 Susan Hurwitz 0 X X 0 0 0 Hal Uhrman 0 X 0 0 0 Terry Adelman 0 X 0 0 0 Elaine Gilbert 0 X 0 0 0 Barbara Janovitz 0 X 0 0 0 Faye Sholiton 0 X 0 0 0 Margo Vinney 0 X 0 0 0 Lauren Rock 10 X 0 0 0 Mark Weiss 6 X 0 0 0 Beverly Gans 40 X 128505 0 9044 128505 0 9044 1 0 0 1 0 0 0 7925 0 0 866300 0 874225 0 101793 0 0 101793 0 0 0 0 0 0 0 0 0 0 0 0 56404 7925 12139 44265 0 44265 0 1020283 0 0 146058 1106405 1106405 0 0 0 0 0 0 35000 0 35000 0 0 0 0 0 195900 0 81668 114232 6372 0 6372 0 6242 0 624 5618 13709 0 4970 8739 30000 0 30000 0 0 0 0 0 8125 0 8125 0 0 0 0 0 0 0 0 0 0 0 30 0 30 0 392 0 392 0 16763 0 16763 0 10450 0 10450 0 0 0 0 0 0 0 0 0 509 0 509 0 0 0 0 0 240 0 240 0 0 0 0 0 542 0 542 0 639 0 639 0 1082 0 1082 0 Planned Giving 2413 0 0 2413 Fundraising/Fund Drive 1887 0 0 1887 All other expenses 2620 0 2620 0 1439320 1106405 200026 132889 113210 99309 171650 174355 48365 47231 1773 1134 13321929 12230102 2038164 1982387 15646726 14487287 28331 30607 693390 0 11389 576857 733110 607464 X 4059880 3413323 4867447 4382690 5986289 6083810 14913616 13879823 15646726 14487287 X -419037 -614756 X 0 1 1 X 0 X 729668 1398485 833679 1600259 874225 5436316 729668 1398485 833679 1600259 874225 5436316 929832 4506484 266006 256023 167131 83900 101793 874853 9892 9892 331277 8258 0 49320 44265 433120 6754181 0.66721 0.72448 X Income received from charity event. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8236681 97410 -271129 0 159309 0 7903653 6252335 957082 1180667 0 153403 0 8236681 5900648 10898 505730 0 164941 0 6252335 7136792 91303 -1231599 0 95848 0 5900648 0.08 0.77 0.15 1 0 0 0 0 0 0 0 0 0 0 0 0 0 48365 47231 1134 0 0 0 0 1134 0 0 Global Equity Funds 8512151 F Bonds 2225879 F Commodity Funds 1492072 F 12230102 Notes receivable from The Montefiore Housing Corporation 1021241 SERP Asset 8103 Prepaid Expenses 189 Workers Comp Deposit 148 Assets held by others 952706 1982387 0 Amounts due to the Montefiore Home 35730 Charitable gift annuity obligations 541127 576857 1020283 1439320 -419037 -546015 0 0 0 -68741 -614756 -1033793 417666 -546015 0 0 -56602 -602617 1020283 0 0 0 1020283 1451459 0 0 0 12139 12139 1439320 0 0 0 1439320 SchD_P05_S00_L04 Schedule D, Part V, Line 4 The eligible portions of the endowment funds are used to help fund special activities and certain expenses incurred by the Montefiore Home and the Montefiore Housing Corporation. SchD_P10_S00_L02 Schedule D, Part X, Line 2 The Internal Revenue Service has ruled that the Foundation qualifies under Section 501(c)(3) of the Internal Revenue Code and is, therefore, not subject to tax under present Federal income tax laws. The Foudnation is classified as an exempt organization under section 509(a)(1). The Foundation follows GAAP for uncertainty in income taxes. The Foundation's income tax filings are subject to audit by various taxing authorities. The Foundation's open audit periods are 2009 through 2012. In evaluating the Foundation's activities, the Foundation believes its position of tax-exempt status is current based on current facts and circumstances. The Foundation has further assessed that there are no activities unrelated to the purpose of the Foundation and therefore no tax is to be recognized. It is the policy of the Foundation to include in operating expenses penalties and interest assessed by income taxing authorities. There are no penalties or interest from taxing authorities included in operating expenses for the years ended June 30, 2012 and 2011. SchD_P11_S00_L08 Schedule D, Part XI, Line 8 Estimated additional annuity expense of $68,741 SchD_P12_S00_L02d Schedule D, Part XII, Line 2d Estimated additional annuity expense of 68,741 and fundraising expenses of 12,139. SchD_P13_S00_L02d Schedule D, Part XIII, Line 2d Elliot & Me expenses Elliot & Me 64329 7925 56404 0 0 3646 2917 750 4826 0 0 64329 7925 56404 0 0 3646 2917 750 4826 12139 44265 1 The Montefiore Home One David N Myers Pkwy Beachwood OH 44122 340714360 501(c)(3) 1044849 0 Resident entertainment and activities; aquarium maintenance; bereavement groups; staff appreciation and development; religious services; volunteer recognition; hospice therapies; dementia and annual fund. The Montefiore Housing Corporation One David N Myers Pkwy Beachwood OH 44122 311501393 501(c)(3) 61556 0 Resident entertainment and activities, exercise classes, kashrut, annual fund 2 0 SchI_P01_S00_L02 Schedule I, Part I, Line 2 The Foundation, with its own governing Board of Directors, periodically receives requests or funds from the Home for capital or other needs. Once approved by the Board of Directors, funds are transferred to the Home. The Foundation follows certain guidelines established by the Jewish Federation of Cleveland. X 0 1 0 0 0 0 0 0 0 Lauren Rock 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Mark Weiss 0 0 0 0 0 0 0 0 0 0 0 0 0 0 SchJ_P01_S00_L04 Schedule J, Part I, Line 4 As of January 1, 2010, the Home established a funded nonqualified defined contribution plan for a select group of management. An employee of the Foundation participates in this plan. In fiscal year 2012, the Foundation funded $2,547 in additional contributions. The Foundation's liability on the Plan is limited to the fair value of its allocated portion of the assets in the Plan. SchJ_P02_S00_L00 Schedule J, Part II Lauren Rock and Mark Weiss received compensation of $323,659 and $218,615 respectively from an unrelated organization for services provided to the Foundation. F990_P06_S0B_L11b Form 990, Part VI, Section B, Line 11b Form 990 is prepared by accounting staff and is then reviewed by the CFO. Once review notes are cleared, the 990 is then reviewed by an independent auditor. The 990 is then presented to the Board Members for review before filing. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c If a conflict of interest arises, the matter would be discussed with the appropriate Board member or committee. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 In 2007, the Montefiore Home ad hoc committee was established to approve the hiring and compensation of the new president and CEO of the organization. This committee approved the hiring of Lauren Rock, current president and CEO of Montefiore. On an annual basis, the Chairman of the Board is responsible for the CEO's annual evaluation. At that time, recommendations can be made to the board concerning compensation and bonuses. The CEO is responsible for the annual evaluations of other key employees. The CEO also recommends compensation levels for such employees. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 Documents are available upon request. F990_P11_S00_L05 Form 990, Part XI, Line 5 Unrealized loss on investments of $546,015 and annuity liability expense of $68,741. Filing on May 15th due to extension request.