2012-12-20T14:00:53-06:00 2011-12-31 131517563 LOEB & TROPER LLP 655 THIRD AVENUE 12TH FLOOR NEW YORK NY 10017 990 2011-01-01 113200785 SHOREFRONT TOWERS HOUSING DEVELOPMENT FUND CORPORATION SHOR 7189217742 6323 7TH AVENUE BROOKLYN NY 11220 ALEX BALKO 7189217742 2012-12-04 1 FREDERICK H ROTHMAN P01275277 2128674000 2011 2016-02-24 21:20:13Z ALEX BALKO 6323 7TH AVENUE BROOKLYN NY 11220 700237 0 X WWW.MJHS.ORG X 1994 NY TO PROVIDE HOUSING TO THE ELDERLY. 5 4 2 4 0 0 0 0 695833 691695 2014 672 6087 7870 703934 700237 0 0 0 0 124295 125296 0 0 0 1029330 1017483 1153625 1142779 -449691 -442542 12650602 12317017 11254609 11363566 1395993 953451 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 993086 691695 SHOREFRONT TOWERS OPERATES A 116 UNIT, NOT-FOR-PROFIT, RESIDENTIAL APARTMENT BUILDING COMPLEX FOR THE ELDERLY AND THOSE IN NEED OF CHARITABLE SUPPORT. 993086 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 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 X X 0 1250642 274708 JACOB FRIEDMAN 0.50 X X 0 0 0 PHILIP GELLER 0.50 X X 0 0 0 SHMUEL LEFKOWITZ 0.50 X X 0 0 0 MAURICE KOLODIN 0.50 X 0 0 0 ROBERT LEAMER 0.50 X 0 405418 130179 ALEXANDER BALKO 0.50 X 0 706119 172874 ELLIOT BROOKS 0.50 X 0 404066 111406 0 2766245 689167 0 0 1 0 TINDEL REPLACEMENT WINDOWS INC 15044 11TH AVENUE FLUSHING NY 11357 REPAIR SERVICES 150197 TUC MANAGEMENT 200 WEST 57TH STREET- 702 NEW YORK NY 10019 MANAGEMENT AGENT 136579 US SECURITY PO BOX 931703 ATLANTA GA 31193 SECURITY GUARD SERVICES 115385 3 RENTAL INCOME 531110 691695 691695 691695 672 672 LAUNDRY AND VENDING 900099 5545 5545 2325 2325 7870 700237 691695 0 8542 91714 68914 22800 27884 20952 6932 5698 4282 1416 70261 70261 22300 22300 45495 19869 25626 412753 412753 358 358 430579 430579 35737 35737 1142779 993086 149693 0 175901 7505 1758029 1613646 416 4754 21835 16717 16430373 5782866 10667618 10647507 26803 26888 12650602 12317017 57956 166828 11196653 11196738 11254609 11363566 X 1395993 953451 1395993 953451 12650602 12317017 -442542 0 X X 0 1 1 X 1 1 X 698280 697509 696449 695833 691695 3479766 698280 697509 696449 695833 691695 3479766 0 0 0 3479766 89876 50477 21659 2014 672 164698 89876 50477 21659 2014 672 164698 5544 5760 5403 6087 7870 30664 793700 753746 723511 703934 700237 3675128 0.94680 0.92980 0.04480 0.06260 X SCHEDULE A, PART II, LINE 12, EXPLANATION OF OTHER INCOME: LAUNDRY AND VENDING MACHINES MISC. INCOME 169000 169000 16177836 5736612 10441224 83537 46254 37283 10647507 CAPITAL ADVANCES 11169850 TENANT SECURITY DEPOSITS 26888 11196738 700237 1142779 -442542 -442542 706309 6072 6072 700237 0 700237 1148851 6072 6072 1142779 0 1142779 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: 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, 2008 AND SUBSEQUENT REMAIN SUBJECT TO EXAMINATION BY APPLICABLE TAXING AUTHORITIES. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENT FREE UNIT 6,072. PART XIII, LINE 2D - OTHER ADJUSTMENTS: RENT FREE UNIT 6,072. 0 1 0 0 0 0 0 0 0 ELI S FELDMAN 0 1149517 0 0 0 101125 0 235119 0 39589 0 1525350 0 0 ROBERT LEAMER 0 354858 0 0 0 50560 0 96134 0 34045 0 535597 0 0 ALEXANDER BALKO 0 639491 0 0 0 66628 0 138829 0 34045 0 878993 0 0 ELLIOT BROOKS 0 354772 0 0 0 49294 0 95731 0 15675 0 515472 0 0 PART I, LINE 1A PART I, LINE 3 THE ORGANIZATION RELIED ON A RELATED ORGANIZATION THAT USED THE METHODS AS LISTED IN LINE 3 TO ESTABLISH CEO/EXECUTIVE DIRECTOR COMPENSATION. PART I, LINE 4B PARTICIPATED IN, OR RECEIVED PAYMENT FROM, A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN: ELLIOT BROOKS - $17,333 ROBERT LEAMER - $17,333 ALEXANDER BALKO - $17,333 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 FINANCE AND INVESTMENT COMMITTEE FOR ITS REVIEW AND APPROVAL. ONCE THE FINANCE AND INVESTMENT 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 PART VI, SECTION B, LINE 15: EACH YEAR, THE METROPOLITAN JEWISH HEALTH SYSTEM, INC. 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 JANUARY 2011. 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 PROCESS HAS NOT CHANGED FROM PRIOR YEAR. HOURS WORKED FOR RELATED ORGANIZATIONS FORM 990, PART VII ELI S. FELDMAN - 32.5 MAURICE KOLODIN - 2 ROBERT LEAMER - 32.5 ELLIOT BROOKS - 33 PHILIP GELLER - 2 SHMUEL LEFKOWITZ - 3.5 JACOB FRIEDMAN - 3 ALEXANDER BALKO - 32.5 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 N/A 0 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0