2013-03-20T13:02:53-05:00 2012-06-30 420714325 MCGLADREY LLP 1 S WACKER DRIVE STE 800 CHICAGO IL 60606 990 2011-07-01 363368912 JFMC Facilities Corporation JFMC 3123466700 30 South Wells No 4049 Chicago IL 60606 James A Pinkston 3123574790 2013-03-20 1 David Faje P00031371 3126343400 2011 2016-02-25 16:41:14Z Reis A Kayser 30 South Wells No 4049 Chicago IL 60606 23306117 0 X n/a X 1985 IL To own, operate and administer real estate properties and related activities for the benefit of the Jewish Federation of Metropolitan Chicago and its network of affiliated and beneficiary agencies. 4 3 0 38 0 0 3143632 3319331 17218550 18984561 79547 75370 0 0 20441729 22379262 350941 397481 0 0 3834153 3724711 0 0 0 18188275 22223940 22373369 26346132 -1931640 -3966870 154402990 144486286 186893402 178236030 -32490412 -33749744 To reduce operating costs for Jewish Chicago's communal agencies by lending expertise and achieving economies of scale that ensure more resources are available for direct service to people in need. 0 0 22712522 397481 18984561 The sole and exclusive program of FacCorp is to own, operate and manage facilities and properties (32 locations) for the Jewish Federation of Metropolitan Chicago and its affiliate and beneficiary agencies. These agencies operate the programs that provide assistance to 300,000 needy Chicagoans of all faiths including: meals and groceries, utility and rent assistance, prescriptions and medical care; job training and placement; therapeutic school and care for children with disabilities; support services for Holocaust survivors; assisted living, Alzheimer's care and transportation for seniors; respite services for caregivers of seniors and people with disabilities; counseling, prevention and intervention for troubled teens; and an entire continuum of prevention and therapeutic services for individuals and families in crisis. 22712522 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 1 1 0 0 1 24 0 1 0 0 0 0 0 0 0 0 0 0 0 X 4 3 1 0 0 0 1 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 IL X James A Pinkston 3123574790 30 South Wells Suite 4049 Chicago IL 60606 Steven B Nasatir 37.50 X X 49601 446413 103239 Max Schrayer II 10.00 X X 0 0 0 David Brown 10.00 X X 0 0 0 Michael Zaransky 10.00 X X 0 0 0 Michael B Tarnoff 37.50 X 30159 271437 25658 James A Pinkston 37.50 X 23158 162103 21782 Peter Chiswick 37.50 X 7211 136994 48890 Reis Kayser 37.50 X 226582 0 51325 Edyta A Summerville 37.50 X 20619 82475 8653 Louis Lazovsky 37.50 X 19743 177681 86201 Joseph Salcik 37.50 X 19240 173160 44768 Steven Ori 37.50 X 122264 0 43458 Fernando Gertzenstein 37.50 X 105994 0 11412 Jerry DeAngelis 37.50 X 106478 0 38937 731049 1450263 484323 4 0 1 0 Securitas Security SVC USA Inc 12672 Collections Center Drive Chicago IL 60693 Security 386561 Eurest Dining Services PO Box 91337 Chicago IL 60693 Food Service & Management 368375 Ron's Landscape & Snow Removal PO Box 340 Prospect Heights IL 60070 Grounds Care & Snow Removal 226992 JRE Management Company 3453 West Arthur Avenue Lincolnwood IL 60712 Consulting 161748 Giersten Company of Illinois 250 Lexington Drive Buffalo Grove IL 60089 Restoration Services 122520 8 3038826 280505 3319331 Rental Income 532000 15305992 15305992 Other Income 900099 1819119 1819119 Central Purchasing 900099 1087881 1087881 Management Service 531390 771569 771569 18984561 49616 49616 952609 926855 25754 25754 25754 22379262 18984561 0 75370 397481 397481 396313 259162 137151 2577692 1685634 892058 450423 295079 155344 300283 196720 103563 781215 780678 537 87985 51770 36215 225640 200009 25631 244030 55234 188796 216748 164092 52656 60724 47613 13111 3964635 3466066 498569 184104 129363 54741 1708 1708 6504253 5154180 1350073 4535305 4504476 30829 Bond Costs Written Off 2412246 2412246 Maintenance & Repairs 1758419 1690698 67721 Security 651621 650902 719 Conf. Ctr. Meals/Suppli 374846 374846 220461 196273 24188 26346132 22712522 3633610 0 367689 651288 1648019 292618 11851779 8995279 3489032 2152382 166661187 38995005 131891920 127666182 4701269 4534057 453282 194480 154402990 144486286 1225764 1505018 771605 58364 142460000 137350000 7400910 7348944 35035123 31973704 186893402 178236030 X -32490412 -33749744 -32490412 -33749744 154402990 144486286 X -3966870 2707538 X 0 1 1 X 0 X X X 0 0 0 Jewish Federation of Metropolitan Chicago 362167761 7 1 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 761309 -5389 61160 694760 718188 106829 63708 761309 707200 77352 66364 718188 924697 -148369 69128 707200 1.00000 0 0 15708549 15708549 107603070 28014604 79588466 38379157 7113093 31266064 147425 41295 106130 4822986 3826013 996973 127666182 Due to Jewish Federation of Metropolitan Chicago 25670800 Deferred Maintenance 3892738 Due to Jewish United Fund of Metropolitan Chicago 2410166 31973704 22379262 26346132 -3966870 -23988 2731526 2707538 -1259332 25110788 2731526 2731526 22379262 0 22379262 26370120 23988 23988 26346132 0 26346132 Description of Intended Use of Endowment Funds: Part V, Line 4: The endowment fund has been designated by the Board of Directors for the benefit of Council for Jewish Elderly (CJE), an affiliated agency of the Jewish Federation of Metropolitan Chicago. Distributions are made from this endowment fund on an annual basis to CJE and are computed using a formal spending policy that has been approved by the Board. Description of Uncertain Tax Positions Under FIN 48: Part X: The accounting standard on accounting for uncertainty in income taxes addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this guidance, Facilities may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. Examples of tax positions include the tax-exempt status of Facilities, the continued tax-exempt status of bonds issued by Facilities, and various positions related to the potential sources of unrelated business taxable income (UBTI). The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement. The guidance on accounting for uncertainty in income taxes also addresses de-recognition, classification, interest and penalties on income taxes, and accounting in interim periods. At June 30, 2012 and 2011, management has determined that there are no uncertain tax positions. Facilities files annual information returns in the U.S. federal jurisdiction and the State of Illinois. Facilities is generally no longer subject to examination by the Internal Revenue Service for tax years before 2009. Part XII, Line 2d - Other Adjustments: Prior Period Adjustment 2,731,526. Part XIII, Line 2d - Other Adjustments: Net unrealized losses on investments 23,988. 1 Jewish Community Center 30 S Wells Suite 4000 Chicago IL 60606 362167758 501(C)(3) 336321 To subsidize rent expense at Weinger Center. Council for Jewish Elderly 3003 West Touhy Avenue Chicago IL 60645 362725797 501(C)(3) 61160 Endowment distribution to subsidize rent expense. 2 0 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: Grants made by JFMC Facilities Corporation (FacCorp) are monitored through an extensive process involving professionals and volunteers that includes submission of budgetary and programmatic information as well as face to face meetings with grant recipients. The grants are also supported by legal agreements between FacCorp and the recipient. X 1 1 X X X 0 1 0 0 0 0 0 0 0 Steven B Nasatir 44073 396660 0 0 5528 49753 8773 78958 1629 14656 60003 540027 0 0 Michael B Tarnoff 22538 202846 0 0 7621 68591 1015 9135 1629 14657 32803 295229 0 0 James A Pinkston 23158 162103 0 0 0 0 784 5491 2020 14140 25962 181734 0 0 Peter Chiswick 7160 136032 0 0 51 962 2028 38523 442 8405 9681 183922 0 0 Reis Kayser 221272 0 0 0 5310 0 38047 0 13988 0 278617 0 0 0 Louis Lazovsky 19694 177244 0 0 49 437 7292 65631 1393 12538 28428 255850 0 0 Joseph Salcik 19228 173052 0 0 12 108 3643 32785 898 8082 23781 214027 0 0 Steven Ori 120022 0 0 0 2242 0 30180 0 13687 0 166131 0 0 0 Part I, Line 1a Business club dues are paid on behalf of appropriate employees conducting business there. Part I, Line 4b Michael Tarnoff: The Jewish Federation has an agreement with Michael Tarnoff which provides for annual payments of $30,000 per year that began in 2009 and will end in 2019. In addition, the Jewish Federation has agreed to provide Michael Tarnoff with a split dollar $800,000 insured death benefit. The insurance is designed so that upon Michael Tarnoff's death, the Federation will receive a benefit equal to all of the premiums paid. The life insurance benefit is provided tax free to Michael Tarnoff so there is an additional cash payment to Michael Tarnoff each year to cover the taxes on the PS58 costs as well as the taxes grossed up. Steven B. Nasatir: In 1999 the Jewish Federation entered into an agreement with Steven Nasatir that was contingent upon 5 more years of service as president and CEO and would result in annual payments of $50,000 per year (net of tax) beginning at age 64 and lasting throughout his lifetime. Dr. Nasatir began receiving payments under this agreement in 2009. The $50,000 per year amount is to be adjusted annually in accordance with the CPI index. This benefit is payable to him only for as long as he lives. There is no guaranteed payment amount and no survivor benefit at his death. In addition, the Jewish Federation has agreed to provide Steven Nasatir with a split dollar $1,000,000 insured death benefit. The insurance is designed so that upon Steven Nasatir's death, the Federation will receive a benefit equal to all of the premiums paid. The life insurance benefit is provided tax free to Steven Nasatir so there is an additional cash payment to Steven Nasatir each year to cover the taxes on the PS58 costs as well as the taxes grossed up. CECFA - Series A1 840896727 196458TH6 2003-07-23 45170000 Refinance Debt and Renovate Office Space 0 0 0 CECFA - Series A8 840896727 196458J79 2005-07-13 35250000 Acquire and Construct Corporate Offices 0 0 0 CECFA - Series A9 840896727 196458Y64 2006-09-14 13070000 To Finance Various Projects 0 0 0 CECFA - Series A10 840896727 19645RBB6 2007-07-26 20970000 Acquire and Construct Day Camp 0 0 0 45170000 47571239 42363520 453420 4754300 2003 1 0 1 1 4450000 36128117 386444 35741672 2005 0 0 1 1 1215000 13673999 177681 13496318 2006 0 0 1 1 1205000 21526422 259386 925000 20342036 2007 0 0 1 1 0 0 0 0 1 0 0 0 0 1 0 0 0 0 1 0 0 0 0 1 0 1 1 JP Morgan Goldman Sachs 0 1 0 0 0 1 1 0 0 0 0 1 1 0 0 0 0 0 1 0 0 0 0 X Schedule K, Part IV, Line 3c, Column A, Entity 1 - Term of Hedge: Swap #0500085002433 JP Morgan - 09/01/06 - 09/01/22 Swap #0500085002434 JP Morgan - 09/01/06 - 09/01/33 Swap #2000005075107 JP Morgan - 09/01/06 - 09/01/22 Swap #2000005075108 JP Morgan - 09/01/06 - 09/01/33 Swap #0500007014191 JP Morgan - 02/05/09 - 03/01/41 Swap #3105677 JP Morgan - 07/23/03 - 09/01/06 Swap #NUUO3075F Goldman Sachs - 09/01/06 - 09/01/22 Schedule K, Part IV, Line 3e, Column A, Entity 1 - Was the hedge terminated Termination on 06/09/2009: Swap #2000005075107 JP Morgan - 09/01/06 - 09/01/22 Swap #2000005075108 JP Morgan - 09/01/06 - 09/01/33 Termination on 06/04/12: Swap #0500085002433 JP Morgan - 09/01/06 - 09/01/22 Schedule K, Part IV, Line 3c, Column B, Entity 2 - Term of Hedge: Swap #0500007014191 JP Morgan - 02/05/09 - 03/01/41 Swap #6900079332499 JP Morgan - 03/02/09 - 03/01/41 Schedule K, Part I, Column (e) & Schedule K, Part, II, Line 3: The difference between issue price in Part I, Column (e) and the total proceeds of issue in Part II, Line 3 is investment income earned on bond escrow before the bond proceeds were expended. CECFA - Series F1 840896727 19645RGF2 2008-08-13 16310000 Refund Prior Bond Issues 0 0 0 CECFA - Series C7 840896727 19645RHU8 2009-02-12 30000000 Acquisition of Land and Preconstruction Development of CCRC 0 0 0 CECFA - Series G3 840896727 19645RQN4 2012-06-01 45495000 Refinance previously existing tax exempt bond debt 0 0 0 16310000 16334397 16060291 249709 24397 2008 1 0 1 1 565000 30095953 383237 29712716 2010 0 0 0 1 45495000 110000 45275000 2012 1 0 1 1 0 0 0 0 1 0 0 0 0 1 0 0 0 0 1 0 1 0 0 0 0 0 1 1 JP Morgan 0 0 0 0 0 0 1 0 0 0 0 JRE Management Company Richard Katz, a former officer, owns 50% of JRE Management Company. 161748 Consulting Fee 0 Form 990, Part VI, Section A, line 2 Steven Nasatir, Officer, and Michael Tarnoff, Officer, have a business relationship. Form 990, Part VI, Section A, line 6 Jewish Federation of Metropolitan Chicago is the sole member of JFMC Facilities Corporation. Form 990, Part VI, Section B, line 11 A copy of the Form 990 was provided to all Board members prior to filing. Each Board member reviewed the Form 990 and had the opportunity to suggest revisions. Form 990, Part VI, Section B, line 12c A conflict of interest questionnaire is circulated to all board members (directors) and key employees on an annual basis. This process is managed by the Executive Director who ensures all questionnaires are completed. The completed questionnaires are reviewed by management and any conflicts are disclosed to the board of directors. If a director does have a conflict or business relationship with JFMC Facilities Corporation, he or she is required to abstain from any votes related to that matter. Form 990, Part VI, Section B, line 15 Compensation of JFMC Facilities Corporation executives is reviewed and approved by the compensation committee of Jewish Federation of Metropolitan Chicago (Federation). Federation's compensation committee is comprised of various Federation Board members, including two individuals who also serve on JFMC Facilities Corporation's Board of Directors, and outside legal counsel. The compensation committee used comparable data from other large nonprofit organizations to ensure executive compensation is consistent with the market, including but not limited to an annual total compensation survey of large city Jewish Federations that is coordinated through the national Jewish Federations of North America organization and conducted each year by the Hay Group, a nationally recognized expert in the field of compensation consulting. The approval of executive compensation is documented in the Compensation Committee's minutes. Form 990, Part VI, Section C, line 19 The organization's governing documents, conflict of interest policy and audited financial statements are made available to all volunteer members of the Board of Directors. With regards to the general public, the organization provides these documents upon request. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Net unrealized losses on investments: -23,988. Prior period adjustments: 2,731,526. Total to Form 990, Part XI, Line 5: 2,707,538. been reclassified to conform to the current year presentation without Form 990, Part I, Revenue and Expenses: Certain prior year amounts have affecting the previous reported net loss. Jewish Federation of Metropolitan Chicago 30 S Wells Suite 4049 Chicago IL 60606 362167761 Social Welfare IL 501(C)(3) 7 N/A 0 Jewish United Fund of Metropolitan Chicago 30 S Wells Suite 4049 Chicago IL 60606 362167034 Fundraising & Grantmaking IL 501(C)(3) 7 N/A 0 255 Revere Drive LP 30 S Wells Suite 4049 Chicago IL 60606 363174413 Real Estate IL JFMC Facilities Corporation Related 46707 308767 0 1 0.99000 0 0 1 0 1 0 0 0 0 1 0 0 0 1 1 1 1 0 255 Revere Drive LP J 126932 Cash