2013-11-11T09:56:27-06:00 2012-12-31 131517563 LOEB & TROPER LLP 655 THIRD AVENUE 12TH FLOOR NEW YORK NY 10017 990 2012-01-01 113200785 SHOREFRONT TOWERS HOUSING DEVELOPMENT FUND CORPORATION SHOR 7189217742 6323 7TH AVENUE BROOKLYN NY 11220 ALEX BALKO 7189217742 2013-10-30 1 FREDERICK H ROTHMAN P01275277 2128674000 2012 2016-03-07 17:11:31Z ALEX BALKO 6323 7TH AVENUE BROOKLYN NY 11220 699937 0 X WWW.MJHS.ORG X 1994 NY TO PROVIDE HOUSING TO THE ELDERLY. 5 4 2 4 0 0 0 0 691695 692690 672 1453 7870 5794 700237 699937 0 0 0 0 125296 221720 0 0 0 1017483 1057631 1142779 1279351 -442542 -579414 12317017 11774529 11363566 11400492 953451 374037 SHOREFRONT TOWERS OPERATES A 116 UNIT, NOT-FOR-PROFIT, RESIDENTIAL APARTMENT BUILDING COMPLEX FOR THE ELDERLY AND THOSE IN NEED OF CHARITABLE SUPPORT. 0 0 1124108 692690 SHOREFRONT TOWERS OPERATES A 116 UNIT, NOT-FOR-PROFIT, RESIDENTIAL APARTMENT BUILDING COMPLEX FOR THE ELDERLY AND THOSE IN NEED OF CHARITABLE SUPPORT. 1124108 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 4 0 2 1 0 0 0 0 0 0 0 0 0 0 X 5 4 0 1 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X PEGGY GUNDERMAN 7189217742 6323 7TH AVENUE BROOKLYN NY 11220 ELI S FELDMAN 0.50 33.00 X X 0 1260210 263416 JACOB FRIEDMAN 0.50 2.50 X X 0 0 0 PHILIP GELLER 0.50 1.00 X X 0 0 0 SHMUEL LEFKOWITZ 0.50 3.00 X X 0 0 0 MAURICE KOLODIN 0.50 1.50 X 0 0 0 ROBERT LEAMER 0.50 33.00 X 0 416331 125320 ALEXANDER BALKO 0.50 33.00 X 0 712128 166374 ELLIOT BROOKS 0.50 33.00 X 0 413785 107054 0 2802454 662164 0 0 1 0 TUC MANAGEMENT 200 WEST 57TH STREET 702 NEW YORK NY 10019 MANAGEMENT AGENT 128873 US SECURITY PO BOX 931703 ATLANTA GA 31193 SECURITY GUARDS 101204 2 RENTAL INCOME 531110 692690 692690 692690 1453 1453 LAUNDRY AND VENDING 900099 3600 3600 2194 2194 5794 699937 692690 0 7247 93734 70604 23130 120562 114772 5790 7424 5592 1832 78270 78270 22300 22300 40059 17070 22989 457703 457703 458275 458275 92 92 932 932 1279351 1124108 155243 0 7505 3517 1613646 1410667 4754 3900 16717 32938 16537230 6241141 10647507 10296089 26888 27418 12317017 11774529 166828 203224 11196738 11197268 11363566 11400492 X 953451 374037 953451 374037 12317017 11774529 -579414 0 X X 0 1 X 1 1 1 X 697509 696449 695833 691695 692690 3474176 697509 696449 695833 691695 692690 3474176 0 0 0 3474176 50477 21659 2014 672 1453 76275 50477 21659 2014 672 1453 76275 5760 5403 6087 7870 5794 30914 753746 723511 703934 700237 699937 3581365 0.97010 0.94680 0.02130 0.04480 X 169000 169000 16283821 6182331 10101490 84409 58810 25599 10296089 CAPITAL ADVANCES 11169850 TENANT SECURITY DEPOSITS 27418 11197268 X 706009 6072 6072 699937 0 699937 1285423 6072 6072 1279351 0 1279351 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: SHOREFRONT TOWERS HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. PERIODS ENDING DECEMBER 31, 2009 AND SUBSEQUENT REMAIN SUBJECT TO EXAMINATION BY APPLICABLE TAXING AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENT FREE UNIT 6,072. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENT FREE UNIT 6,072. 0 1 0 0 0 0 0 0 0 ELI S FELDMAN 0 972447 0 0 0 287763 0 228483 0 34933 0 1523626 0 186729 ROBERT LEAMER 0 355854 0 10652 0 49825 0 95756 0 29564 0 541651 0 0 ALEXANDER BALKO 0 629294 0 18744 0 64090 0 136794 0 29580 0 878502 0 0 ELLIOT BROOKS 0 355426 0 10566 0 47793 0 95284 0 11770 0 520839 0 0 PART I, LINE 3 THE SALARIES FOR THE EXECUTIVES ARE DETERMINED BY METROPOLITAN JEWISH HEALTH SYSTEM, INC., A RELATED ORGANIZATION. THE METHODS UTILIZED INCLUDE A COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANTS, REVIEW OF THE FORM 990 OF OTHER ORGANIZATIONS, WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEYS OR STUDIES AND APPROVAL BY THE COMPENSATION COMMITTEE OF THE BOARD. PART I, LINE 4B PARTICIPATED IN, OR RECEIVED PAYMENT FROM, A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN: ELLIOT BROOKS - $17,782 ROBERT LEAMER - $17,782 ALEXANDER BALKO - $17,782 FORM 990, PART VI, SECTION A, LINE 3 SHOREFRONT TOWERS HOUSING DEVELOPMENT FUND CORPORATION IS MANAGED BY TUC MANAGEMENT CO., INC. FORM 990, PART VI, SECTION A, LINE 6 ALL MEMBERS HAVE THE SAME VOTING RIGHTS. THE MEMBERS HAVE THE RIGHT TO ELECT THE MEMBERS OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7A DIRECTORS ARE ELECTED BY MEMBERS OF THE ORGANIZATION. ALL MEMBERS HAVE THE SAME VOTING RIGHTS. FORM 990, PART VI, SECTION B, LINE 11 DRAFTS OF THE COMPLETED RETURNS ARE REVIEWED BY THE EXECUTIVE VP/CFO, SENIOR VP/GENERAL COUNSEL AND THEIR STAFF. ANY COMMENTS ARISING FROM THEIR REVIEW ARE DISCUSSED AND IF REQUIRED, CHANGES ARE MADE TO THE DRAFT. THAT DRAFT WILL BE SUBMITTED TO THE MJHS EXECUTIVE COMMITTEE FOR ITS REVIEW AND APPROVAL. ONCE THE COMMITTEE HAS COMPLETED ITS REVIEW COPIES OF THE RETURNS WILL BE PROVIDED TO ALL BOARD MEMBERS. FORM 990, PART VI, SECTION B, LINE 12C EACH DIRECTOR, PRINCIPAL OFFICER, KEY EMPLOYEE AND MEMBER OF A COMMITTEE WITH BOARD-DELEGATED POWERS MUST FILE AND MAINTAIN CURRENT THE ORGANIZATION'S DIRECTORS BIOGRAPHICAL INFORMATION FORM AND, ON AN ANNUAL BASIS, COMPLETE THE ORGANIZATION'S DIRECTORS CONFLICT OF INTEREST STATEMENT AND ACKNOWLEDGEMENT WHICH ACKNOWLEDGES THAT EACH INDIVIDUAL HAS DISCLOSED ANY POTENTIAL CONFLICT OF INTEREST; RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY; READ AND UNDERSTANDS THE CONFLICTS OF INTEREST POLICY; AND AGREED TO COMPLY WITH THE CONFLICTS OF INTEREST POLICY. THE SENIOR VICE PRESIDENT/GENERAL COUNSEL SUPERVISES THE DISTRIBUTION, COLLECTION AND REVIEW OF THE ANNUAL DIRECTORS CONFLICT OF INTEREST STATEMENT AND ACKNOWLEDGEMENT. FROM TIME TO TIME, DIRECTORS, PRINCIPAL OFFICERS, KEY EMPLOYEES AND/OR COMMITTEE MEMBERS ARE REMINDED OF THEIR OBLIGATION TO DISCLOSE POTENTIAL OR ACTUAL CONFLICTS OF INTEREST WHEN AND IF THEY ARISE. PROCEDURES FOR MANAGING IDENTIFIED CONFLICTS: EACH DIRECTOR, PRINCIPAL OFFICER, KEY EMPLOYEE AND MEMBER OF A BOARD COMMITTEE IS REQUIRED TO DISCLOSE ANY ACTUAL OR POTENTIAL CONFLICT OF INTEREST TO THE INDIVIDUAL CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. IN THE EVENT OF SUCH A DISCLOSURE, THE INTERESTED PARTY IS EXCUSED FROM THE MEETING AND THE BOARD/COMMITTEE DETERMINES WHETHER A CONFLICT EXISTS. IF THE BOARD/COMMITTEE DETERMINES THAT A CONFLICT EXISTS, THE CHAIRPERSON OF THE BOARD OR DESIGNEE (IF APPROPRIATE) WILL APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE AND REPORT TO THE BOARD OF DIRECTORS ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. BASED ON THE INFORMATION FURNISHED BY THE DISINTERESTED PERSON OR COMMITTEE, THE BOARD OF DIRECTORS WILL MAKE A DETERMINATION OF WHETHER THE CORPORATION CAN OBTAIN A MORE ADVANTAGEOUS TRANSACTION OR MORE REASONABLE ARRANGEMENTS FROM AN ENTITY OR PERSON THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST IS NOT REASONABLY ATTAINABLE UNDER THE CIRCUMSTANCES, THE BOARD OF DIRECTORS WILL DETERMINE, BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS, WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE ORGANIZATION'S BEST INTEREST AND FOR ITS OWN BENEFIT AND WHETHER THE TRANSACTION IS FAIR AND REASONABLE TO THE ORGANIZATION. ALL OF THE ACTIONS STATED ABOVE SHALL BE REFLECTED IN THE BOARD/COMMITTEE MINUTES. IN THE EVENT THAT A DIRECTOR, PRINCIPAL OFFICER, KEY EMPLOYEE OR MEMBER OF A BOARD COMMITTEE FAILS TO DISCLOSE A POTENTIAL OR ACTUAL CONFLICT OF INTEREST, THE BOARD/COMMITTEE, AFTER AFFORDING THE INDIVIDUAL DUE PROCESS, SHALL DETERMINE WHETHER THE INDIVIDUAL VIOLATED THE CONFLICT OF INTEREST POLICY BY FAILING TO DISCLOSE AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST AND, IN THE EVENT OF A DETERMINATION THAT A VIOLATION OCCURRED, TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. FORM 990, PART VI, SECTION B, LINE 15 METROPOLITAN JEWISH HEALTH SYSTEM, INC., A RELATED ORGANIZATION RETAINS THE SERVICES OF A MAJOR EXECUTIVE COMPENSATION FIRM TO REVIEW MARKET PAY PRACTICES AND AVERAGE SALARY MOVEMENT AMONG SIMILARLY SITUATED EXECUTIVES. THE EXECUTIVE COMPENSATION FIRM IS ASKED TO DEVELOP A COMPARATIVE BASE THAT IS AS CLOSE AS POSSIBLE TO OUR ORGANIZATION. DIFFERENT COMPARATIVE GROUPS ARE CONSIDERED FOR EACH POSITION, CEO AND SENIOR VP'S AS APPROPRIATE. THIS WAS LAST COMPLETED IN SEPTEMBER 2012. THIS MARKET ANALYSIS IS THEN REVIEWED BY THE COMPENSATION COMMITTEE IN DETERMINING SALARY ADJUSTMENTS FROM THE PERSPECTIVE OF MARKET COMPETITIVENESS AND PRIOR YEAR PERFORMANCE. PERFORMANCE IS BASED ON THE EXTENT THAT EACH EXECUTIVE HAS ACHIEVED HIS/HER GOALS. BONUS ELIGIBILITY IS DONE IN A SIMILAR MANNER. OTHER KEY EMPLOYEES ARE MANAGED IN SIMILAR MANNER THROUGH THE HUMAN RESOURCES DEPARTMENT UNDER THE DIRECTION OF THE SENIOR VICE PRESIDENT FOR HUMAN RESOURCES IN CONJUNCTION WITH THE CEO, USING LOCAL SURVEYS TO ENSURE MARKET COMPETITIVENESS. FORM 990, PART VI, SECTION C, LINE 18 THESE DOCUMENTS ARE AVAILABLE UPON REQUEST TO THE OFFICE OF THE PRESIDENT. FORM 990, PART VI, SECTION C, LINE 19 THESE DOCUMENTS ARE AVAILABLE UPON REQUEST TO THE OFFICE OF THE PRESIDENT. FORM 990 PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. METROPOLITAN JEWISH HEALTH SYSTEM INC 6323 7TH AVENUE BROOKLYN NY 11220 113538697 ADMINISTRATIVE SERVICES NY 501(C)(3) 7 N/A 0 MJG NURSING HOME CO INC 6323 7TH AVENUE BROOKLYN NY 11220 237123076 NURSING HOME NY 501(C)(3) 3 N/A 0 MENORAH HOME AND HOSPITAL FOR THE AGED AND INFIRM 6323 7TH AVENUE BROOKLYN NY 11220 111672777 NURSING HOME, ADULT DAY CARE NY 501(C)(3) 3 METROPOLITAN JEWISH HEALTH SYSTEM INC 1 SHOREFRONT JEWISH GERIATRIC CENTER INC 6323 7TH AVENUE BROOKLYN NY 11220 113072153 NURSING HOME, ADULT DAY CARE NY 501(C)(3) 9 METROPOLITAN JEWISH HEALTH SYSTEM INC 1 METROPOLITAN JEWISH HOME CARE INC 6323 7TH AVENUE BROOKLYN NY 11220 320060822 HOME CARE, HOSPICE NY 501(C)(3) 9 METROPOLITAN JEWISH HEALTH SYSTEM INC 1 ELDERPLAN INC 6323 7TH AVENUE BROOKLYN NY 11220 112625096 MEDICARE ADVANTAGE SPECIAL NEEDS PLAN / MEDICAID MANAGED LONG TERM CARE PLAN NY 501(C)(3) 9 N/A 0 MENORAH FOUNDATION INC 6323 7TH AVENUE BROOKLYN NY 11220 113471173 FUNDRAISING NY 501(C)(3) 11 TYPE I METROPOLITAN JEWISH HEALTH SYSTEM FOUNDATION 1 HOMEFIRST LHCSA INC 6323 7TH AVENUE BROOKLYN NY 11220 611501623 HOME CARE NY 501(C)(3) 11 TYPE I METROPOLITAN JEWISH HEALTH SYSTEM INC 1 METROPOLITAN JEWISH HEALTH SYSTEM FOUNDATION 6323 7TH AVENUE BROOKLYN NY 11220 111630753 FUNDRAISING NY 501(C)(3) 7 N/A 0 JACOB PERLOW HOSPICE CORPORATION 6323 7TH AVENUE BROOKLYN NY 11220 133438643 HOSPICE SERVICES NY 501(C)(3) 3 METROPOLITAN JEWISH HEALTH SYSTEM INC 1 MJHS MEDICAL ASSOCIATES PC 6323 7TH AVENUE BROOKLYN NY 11220 275273404 PROVIDING HEALTH CARE SERVICES FOR AFFILIATES OF MJHS NY 501(C)(3) 9 METROPOLITAN JEWISH HEALTH SYSTEM INC 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0