2012-05-15T10:05:47-07:00 2011-06-30 990 2010-07-01 341788055 MONTEFIORE FOUNDATION MONT 2163609080 One David N Myers Pkwy Beachwood OH 44122 Mark Weiss 2169102640 2012-05-15 2010 2016-02-24 21:20:13Z Mark Weiss 1 David N Myers Pkwy Beachwood OH 44122 1734909 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 2 30 0 0 886780 1600259 0 0 167131 83900 0 49320 1053911 1733479 1619382 1106552 0 0 252218 254760 0 0 10266 225960 85320 2097560 1446632 -1043649 286847 13393027 15646726 761110 733110 12631917 14913616 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 1108300 1106552 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 1108300 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 1 0 0 0 0 1 1 0 2 1 0 0 0 0 0 0 0 0 0 0 X 26 26 0 0 1 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 X 0 0 0 Bette G Braff 0 X 0 0 0 Sydney S Friedman 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 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 Jeffrey L Korach 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 Daniel N Zelman 0 X 0 0 0 Susan Hurwitz 0 X X 0 0 0 Susan Rubin 0 X 0 0 0 Hal Uhrman 0 X 0 0 0 Terry Adelman 0 X 0 0 0 Lauren Rock 10 X 0 313435 14762 Beverly Gans 40 X 126671 0 9183 126671 313435 23945 1 0 1 0 0 0 0 5425 0 0 1594834 0 1600259 0 83900 0 0 83900 0 0 0 0 0 0 0 0 0 0 0 0 50750 5425 1430 49320 0 49320 0 1733479 0 0 133220 1106552 1106552 35000 35000 187195 187195 5501 5501 13577 13577 13487 13487 30000 30000 8600 8600 1370 1370 1249 1249 15191 15191 8208 8208 2735 2735 380 380 1235 1235 685 685 1077 1077 Bad Debt 1748 1748 0 0 Planned Giving 8913 0 0 8913 Fundraising / Fund Drive 1353 0 0 1353 All other expenses 2576 0 2576 0 1446632 1108300 328066 10266 211176 113210 178325 171650 48365 46592 1793 1773 11975177 13321929 1026556 2038164 13393027 15646726 23287 28331 712467 693390 25356 11389 761110 733110 X 3739472 4059880 3845402 4867447 5047043 5986289 12631917 14913616 13393027 15646726 X 286847 1994852 X 0 1 1 X 0 X 1380022 729668 1398485 833679 1600259 5942113 1380022 729668 1398485 833679 1600259 5942113 543480 5398633 337838 266006 256023 167131 83900 1110898 9892 9892 331277 8258 0 49320 388855 7451758 0.72448 0.77249 X Income received from charity event. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6252335 957082 1180667 0 153403 0 8236681 5900648 10898 505730 0 164941 0 6252335 7136792 91303 -1231599 0 95848 0 5900648 0.09 0.72 0.19 1 0 0 0 0 0 0 0 0 0 0 0 0 0 48365 46592 1773 0 0 0 0 1773 0 0 Global Equity Funds 8725864 F Bonds 2704352 F Commodity Funds 1785138 F Money Market 106575 F 13321929 Notes receivable from The Montefiore Housing Corporation 1021241 SERP Asset 5804 Prepaid Expenses 167 Workers Comp Deposit 148 Assets held by others 1010804 2038164 Amounts due to the Montefiore Home 11389 11389 1733479 1446632 286847 2076529 0 0 0 -81677 1994852 2281699 3728014 2076529 0 0 -81994 1994535 1733479 0 0 0 1733479 1446315 0 0 0 1430 1430 1444885 0 1747 1747 1446632 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_L00 Schedule D, Part X Liabilities due to the Montefiore Home due to intercompany expenses. 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 Foundation is classified as an exempt organization under section 509(a)(1). Effective July 1, 2009, the Foundation adopted the accounting guidance 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 2008 through 2011. In evaluating the Foundation's activites, 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. Is 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, 2011 and 2010. SchD_P11_S00_L08 Schedule D, Part XI, Line 8 Estimated additional annuity expense of $81,677 SchD_P12_S00_L02d Schedule D, Part XII, Line 2d Pledge bad debt expense of 1,747, estimated additional annuity expense of 81,677, and fundraising expenses of 1,430. SchD_P13_S00_L02d Schedule D, Part XIII, Line 2d Elliot & Me expenses SchD_P13_S00_L04b Schedule D, Part XIII, Line 4b Pledge bad debt expense of 1,747 Elliot & Me 56175 5425 50750 0 0 0 0 0 1430 0 0 56175 5425 50750 0 0 0 0 0 1430 1430 49320 1 The Montefiore Home One David N Myers Pkwy Beachwood OH 44122 340714360 501(c)(3) 987123 0 Resident entertainment and activities; aquarium maintenance; bereavement groups; staff appreciation and development; religious services; volunteer recognition; hospice therapies; chapel; cafeteria; dementia; and annual fund. The Montefiore Housing Corporation One David N Myers Pkwy Beachwood OH 44122 311501393 501(c)(3) 119429 0 Resident entertainment and activities, exercises classes, kashrut at the Weils, annual allocation, and 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 288435 0 25000 0 0 0 0 0 14762 0 328197 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. Bev Gans participates in this plan. As such, the Foundation made an initial contribution to the Plan of $5,000 for its portion of the funding in fiscal 2010. No contributions were made to the Plan by the Foundation during the year ended June 30, 2011. The Foundation's liability on the Plan is limited to the fair value of its allocated portion of the assets in the Plan. F990_P06_S0A_L04 Form 990, Part VI, Section A, Line 4 During the course of fiscal year 2011 the Articles of Incorporation for the Montefiore Foundation were updated to add the Montefiore Housing Corporation as one of the charitable organization supported by the Montefiore 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 gain on investments of $2,076,529 and annuity liability expense of $81,677. Montefiore Home 1 David N Myers Pkwy Beachwood OH 44122 340714360 Nursing Home Care OH 501(c)(3) 9 N/A The Montefiore Housing Corporation 1 David N Myers Pkwy Beachwood OH 44122 311501393 Assisted Living, Rehab and Memory Care OH 501(c)(3) 9 N/A 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 Filing on May 15th due to extension request.