2012-03-07T08:32:02-06:00 2011-09-30 CLIFTONLARSONALLEN LLP 610 WGERMANTOWN PIKESTE 400 PLYMOUTH MTG PA 19462 990 2010-10-01 042853296 SYMMES LIFE CARE INC D/B/A BROOKHAVEN AT LEXINGTON SYMM 7813720139 1010 WALTHAM STREET LEXINGTON MA 02421 JAMES M FREEHLING CEO 7813720139 2012-03-05 1 BERNADETTE O'TOOLECPA 2156433900 2010 2016-02-24 21:20:13Z JAMES FREEHLING 1010 WALTHAM STREET LEXINGTON MA 02421 22578412 0 X WWW.BROOKHAVENATLEXINGTON.ORG X 1984 MA TO PROVIDE HOUSING AND HEALTHCARE SERVICES FOR THE ELDERLY. 19 18 259 35 0 0 56834 78738 20732837 21526870 373754 677820 44607 193067 21208032 22476495 0 0 0 0 8168487 8691244 0 0 0 10740395 10511397 18908882 19202641 2299150 3273854 109311410 106089813 108726833 103320699 584577 2769114 THE ORGANIZATION PROVIDES HOUSING, MEALS, WELLNESS PROGRAMS, HEALTHCARE, SKILLED NURSING AND OTHER SUPPORT SERVICES TO THE ELDERLY. THE COMMUNITY IS COMPRISED OF 240 INDEPENDENT LIVING UNITS, 20 ASSISTED CARE UNITS, AND A 49 BED MEDICARE LICENSED NURSING FACILITY. 0 0 13390093 17420199 THE INDEPENDENT LIVING PROGRAM SUPPORTS RESIDENTS THAT CAN LIVE IN PRIVATE APARTMENTS INDEPENDENTLY IN A SAFE AND HEALTHY MANNER. HOUSING SUPPORT SERVICES INCLUDE HOUSEKEEPING, LINEN SERVICE, ONE MEAL PER DAY AND AN EMERGENCY CALL SYSTEM. ALL SUPPORTIVE PROGRAMMING ENDEAVORS TO INCORPORATE A WHOLE PERSON WELLNESS APPROACH, I.E. EACH PROGRAM INCLUDES ONE OR MORE OF THE SIX DIMENSIONS OF WELLNESS: PHYSICAL, SOCIAL, VOCATIONAL, EMOTIONAL, INTELLECTUAL AND SPIRITUAL. HEALTHCARE SUPPORT SERVICES INCLUDE AN HOUR PER DAY OF ASSISTANCE WITH DAILY LIVING AS NEEDED BY A PERSONAL CARE ASSISTANT, ON-SITE DOCTOR'S OFFICE HOURS, SUPPORT GROUPS AND PROBLEM SOLVING AROUND ISSUES OF AGING. AT THE FISCAL YEAR-END THERE WERE 296 WITHIN THIS PROGRAM. 424689 892694 THE ASSISTED CARE PROGRAM PROVIDES HOUSING AND SUPPORT SERVICES TO RESIDENTS WITH MILD COGNITIVE AND/OR PHYSICAL IMPAIRMENT WHO CAN NOT LIVE INDEPENDENTLY. ALL THE BENEFITS AND PROGRAMMING OF INDEPENDENT LIVING ARE AVAILABLE TO RESIDENTS IN ASSISTED CARE. ADDITIONAL SERVICES INCLUDE THREE MEALS A DAY, BOOKING OF APPOINTMENTS AND TRANSPORTATION, CARE PLANNING, AND MEDICATION MANAGEMENT. THE UNIT IS STAFFED BY A PERSONAL CARE ASSISTANT 24 HOURS PER DAY. A NURSE IS AVAILABLE 8 HOURS PER DAY AND IS RESPONSIBLE FOR INDIVIDUAL CARE PLANNING AND ONGOING MEDICAL CONSULTATION. AT THE FISCAL-YEAR END THERE WERE 18 WITHIN THIS PROGRAM. 3051949 2989412 THE SKILLED NURSING FACILITY PROVIDES PRIVATE AND SEMI-PRIVATE ROOM & BOARD ACCOMMODATIONS AND THREE MEALS PER DAY. ALL THE BENEFITS AND PROGRAMMING OF INDEPENDENT LIVING ARE AVAILABLE TO RESIDENTS IN THE HEALTH CENTER. ADDITIONAL BENEFITS IN THE HEALTH CENTER INCLUDE 24 HOUR PER DAY SKILLED NURSING CARE, SOCIAL SERVICES, RESTORATIVE THERAPIES, THERAPEUTIC MEALS, ON-SITE ANCILLARY SERVICES, SUCH AS PODIATRY AND LABORATORY SERVICES AND PHYSICIAN SERVICES. ACTIVITIES PROGRAMMING IS BOTH INDIVIDUALIZED AND GROUP ORIENTED. AT THE FISCAL YEAR-END THERE WERE 36 WITHIN THIS PROGRAM. 16866731 1 1 0 0 0 0 0 0 1 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 41 0 1 259 1 0 0 0 0 0 0 0 0 0 0 X 19 18 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X ERIN FINN DIRECTOR OF FINANCE 7818639660 1010 WALTHAM STREET LEXINGTON MA 02421 JAMES M FREEHLING 40.00 X X 249717 0 27344 RALPH DUNHAM 1.00 X X 0 0 0 BURT M PERLMUTTER MD 1.00 X X 0 0 0 G NEIL HARPER 1.00 X X 0 0 0 NORMAN P COHEN 1.00 X 0 0 0 GRETCHEN ANNESE 1.00 X 0 0 0 ROBERT COHEN 1.00 X 0 0 0 GERALD DINNEEN 1.00 X 0 0 0 MARILYN DUNN 1.00 X 0 0 0 HARRY G FODEN 1.00 X X 0 0 0 SHERRY GORDON 1.00 X 0 0 0 JAMIE KATZ 1.00 X 0 0 0 JOAN KEENAN 1.00 X 0 0 0 WALTER LEUTZ PHD 1.00 X 0 0 0 JEANNE KRIEGER 1.00 X 0 0 0 NATALIE H RIFFIN 1.00 X 0 0 0 ERIC SCHWARTZ 1.00 X 0 0 0 F DAVID WELLS 1.00 X 0 0 0 PAMELA MCNAMARA 1.00 X 0 0 0 SUSANNA KIRKPATRICK 40.00 X 143317 0 12507 CATHLEEN WOODWARD 40.00 X 126482 0 6066 LINDA ROBILLARD 40.00 X 111073 0 19214 DIANA ZAMPELL 40.00 X 106959 0 4848 KENNETH DEROECK 40.00 X 101122 0 18789 838670 0 88768 6 0 1 0 CACCAVARO CONSTRUCTION INC 67 SMITH PLACE UNIT 3 CAMBRIDGE MA 02138 CONTRACTOR 907936 HERITAGE HEALTHCARE SERVICES INC 1009 RESERVIOR AVE CRANSTON RI 029105134 CLEANING SERVICES 882131 EASTER SEALS MASSACHUSETTS 484 MAIN STREET WORCHESTER MA 01608 THERAPY 228948 VALLEY CREST LANDSCAPE P O BOX 404083 ATLANTA GA 30384 CONTRACTOR 220796 TREMBLAY BROTHERS FLOORING INC 65 INDUSTRIAL WAY UNIT D WILMINGTON MA 01887 CONTRACTOR 220614 9 78738 78738 RESIDENT REVENUE 623000 18574507 18379760 194747 HEALTH CENTER REVENUE 623000 2952363 2922545 29818 21526870 693938 693938 18133 18133 18133 18133 33306 49424 -16118 -16118 -16118 95405 52493 42912 42912 GAIN ON EXTINGUISHMENT 623000 104679 104679 APPLICATION FEES 623000 26000 26000 OTHER REVNUE 623000 1343 1343 132022 22476495 21302305 0 1095452 838670 838670 6052885 5772007 280878 214266 179458 34808 1097664 919346 178318 487759 414804 72955 12820 12820 68792 68792 534529 387542 146987 32132 32132 893252 574845 318407 2013938 2013938 26595 19943 6652 428225 428225 3343454 3343454 344350 344350 FOOD 979441 979441 HOUSEKEEPING, LAUNDRY A 845401 845401 GROUDS AND SECURITY CON 681638 681638 RESIDENT ACTIVITIES 124836 124836 181994 181853 141 19202641 16866731 2335910 0 6461036 5738561 519015 345037 19378 29386 1389280 1319371 96552555 34881534 62671144 61671021 38227061 36924950 24496 61487 109311410 106089813 1126704 1208677 86659238 83326931 19309191 17000391 1784700 1631700 0 108726833 103320699 X 132990 2182928 451587 586186 584577 2769114 109311410 106089813 X 3273854 -1089317 X X 0 1 1 X 0 X 66695 120500 53851 56834 78488 376368 16533139 18406657 20235660 20732837 21302305 97210598 16599834 18527157 20289511 20789671 21380793 97586966 0 0 0 97586966 910815 1195592 697107 548405 712071 4063990 910815 1195592 697107 548405 712071 4063990 761662 20421 22216 26969 27593 858861 18272311 19743170 21008834 21365045 22120457 102509817 0.95200 0.94450 0.03960 0.04650 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 2974158 2974158 71554633 27993429 43561204 3587677 1782236 1805441 18436087 5105869 13330218 61671021 22476495 19202641 3273854 -1089317 -1089317 2184537 21653509 266331 266331 21387178 1089317 1089317 22476495 19468972 266331 266331 19202641 0 19202641 PART IV, LINE 2B: RESIDENTS PAY FEES TO BROOKHAVEN PURSUANT TO ENTERING INTO A CONTINUING CARE CONTRACT. THESE FEES ARE RECORDED AS DEFERRED REVENUE FROM ADVANCE FEES AND ARE AMORTIZED TO INCOME USING THE STRAIGHT-LINE METHOD. THE NON-REFUNDABLE PORTION OF THE FEES (TEN PERCENT) IS AMORTIZED OVER THE ESTIMATED REMAINING LIFE EXPECTANCY OF THE RESIDENT. THE REFUNDABLE PORTION OF THE FEES (90 PERCENT) IS AMORTIZED OVER THE ESTIMATED LIFE OF THE BUILDING AT THE MOVE-IN DATE. THE ESTIMATED LIABILITY FOR REFUNDS OF ADVANCE FEES IS CALCULATED AS THE ENTRANCE FEE LESS ONE PERCENT OF THE ENTRANCE FEE PER MONTH OF ACTUAL OCCUPANCY AT BROOKHAVEN FOR THE FIRST TEN MONTHS OF OCCUPANCY. AFTER TEN MONTHS OF OCCUPANCY AT BROOKHAVEN, THE REFUND IS CALCULATED AND IS PAID TO THE RESIDENT AS FOLLOWS: (1) AN AMOUNT EQUAL TO THE ENTRANCE FEE LESS ONE PERCENT OF THE ENTRANCE FEE PER MONTH OF ACTUAL OCCUPANCY AT BROOKHAVEN SHALL BE PAID WITHIN 120 DAYS OF THE EFFECTIVE DATE OF TERMINATION; AND (2) THE BALANCE OF THE REFUND AMOUNT SHALL BE PAID ON THE DATE WHICH IS THIRTY DAYS AFTER BROOKHAVEN HAS EXECUTED A RESIDENCE AND CARE AGREEMENT WITH A NEW RESIDENT(S) AND SUCH RESIDENT(S) HAS OCCUPIED THE LIVING UNIT, OR ON THE DATE WHICH IS 120 DAYS AFTER THE EFFECTIVE DATE OF TERMINATION, WHICHEVER IS LATER. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: BROOKHAVEN HAS BEEN GRANTED EXEMPT STATUS RELATIVE TO FEDERAL AND STATE CORPORATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND APPLICABLE STATE CODES. BROOKHAVEN FOLLOWS THE GUIDANCE IN THE INCOME TAX STANDARD REGARDING THE RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. THE GUIDANCE CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS. THE GUIDANCE FURTHER PRESCRIBES RECOGNITION AND MEASUREMENT OF TAX PROVISIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. THE APPLICATION OF THIS STANDARD HAS NO IMPACT ON BROOKHAVEN'S FINANCIAL STATEMENTS. BROOKHAVEN'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. THE TAX RETURNS FOR THE YEARS 2008 TO 2010 ARE OPEN TO EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XII, LINE 2D - OTHER ADJUSTMENTS: RECLASSIFICATION OF UNRESTRICTED NET ASSETS FOR MATCHING GIFT 50,000. NET ASSETS RELEASED FROM RESTRICTIONS 2,571. RECLASS LOSS ON DISPOSAL OF OTHER ASSETS 16,118. RECLASS SHORTFALL OF INVESTMENT REVENUE OVER SPENDING FORMULA 145,149. COST OF GOODS SOLD PRESENTED AGAINST GROSS SALES OF INVENTORY 52,493. PART XII, LINE 4B - OTHER ADJUSTMENTS: UNREALIZED LOSS 1,089,317. PART XIII, LINE 2D - OTHER ADJUSTMENTS: NET ASSETS RELEASED FROM RESTRICTIONS 2,571. RECLASSIFICATION OF UNRESTRICTED NET ASSETS FOR MATCHING GIFT 50,000. LOSS ON DISPOSAL OF OTHER ASSETS 16,118. RECLASS SHORTFALL OF INVESTMENT REVENUE OVER SPENDING FORMULA 145,149. COST OF GOODS SOLD INCLUDED AS A DIRECT EXOENSES 52,493. X X X X X 0 1 0 0 0 0 0 0 0 JAMES M FREEHLING 249717 0 0 0 0 0 9188 0 18156 0 277061 0 0 0 SUSANNA KIRKPATRICK 143317 0 0 0 0 0 4824 0 7683 0 155824 0 0 0 MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 57583RAGO 2005-03-23 23722973 TO CONSTRUCT A SENIOR LIVING FACILITY AND REFINANCE OLD DEBT. 0 0 0 23722973 232145 412874 2005 1 0 1 1 0 0 0 0 1 1 0 0 0 0 0 FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE SHALL CONSIST OF THE PRESIDENT OF THE CORPORATION, AND THE FOUR ELECTED OFFICERS OF THE CORPORATION. THE EXECUTIVE COMMITTEE SHALL POSSESS AND MAY EXERCISE ALL OF THE POWERS OF THE BOARD OF TRUSTEES IN THE MANAGEMENT OF THE CORPORATION AND THE DIRECTION OF ITS AFFAIRS BETWEEN MEETINGS OF THE BOARDS, SUBJECT TO ANY LIMITATIONS IMPOSED ON THE EXECUTIVE COMMITTEE BY LAW, THE ARTICLES OF ORGANIZATION, BYLAWS, OR BY THE BOARD OF TRUSTEES. THE BOARD SHALL HAVE THE POWER TO RESCIND ANY VOTE OR ACTION OF THE EXECUTIVE COMMITTEE, BUT NO SUCH RESCISSION SHALL HAVE RETROACTIVE EFFECT OR INVALIDATE ACTION ALREADY TAKEN IN RELIANCE ON SUCH VOTE OR ACTION. THE EXECUTIVE COMMITTEE SHALL MEET AS OFTEN AS MAY BE NECESSARY TO MEET ITS REPONSIBILITIES, MEETINGS TO BE CALLED BY THE CHAIR OR THE PRESIDENT OF THE CORPORATION. FORM 990, PART VI, SECTION A, LINE 4 AS OF MAY 4, 2011 THE BYLAWS OF SYMMES LIFE CARE, INC. HAVE BEEN AMENDED AND RESTATED. LAWS REGARDING THE FINANCE, INVESTMENT, AND EXECUTIVE COMPENSATION COMMITTEES ARE AMONG THE AMENDMENTS TO THE BYLAWS. FORM 990, PART VI, SECTION B, LINE 11 A DRAFT OF THE 990 WAS REVIEWED BY THE ORGANIZATION'S BOARD OF DIRECTORS PRIOR TO BEING SUBMITTED TO THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE POLICY & PROCEDURE ON CONFLICTS OF INTEREST AND DISCLOSURE OF CERTAIN INTERESTS COVERS ALL TRUSTEES. ALL NEW TRUSTEES ARE REQUIRED TO REVIEW THIS POLICY AND PROCEDURE AND ACKNOWLEDGE IN WRITING THAT THEY HAVE DONE SO. ANNUALLY, ALL TRUSTEES ARE REQUIRED TO REVIEW THE CONFLICT OF INTEREST POLICY AND COMPLETE A DISCLOSURE FORM IDENTIFYING ANY RELATIONSHIPS, POSITIONS OR CIRCUMSTANCES IN WHICH THE RESPONSIBLE PERSON IS INVOLVED THAT HE OR SHE BELIEVES COULD CONTRIBUTE TO A CONFLICT OF INTEREST ARISING. ANY SUCH INFORMATION REGARDING BUSINESS INTERESTS OF A RESPONSIBLE PERSON OR A FAMILY MEMBER SHALL BE TREATED AS CONFIDENTIAL AND SHALL GENERALLY BE MADE AVAILABLE ONLY TO THE CHAIR, THE PRESIDENT, AND ANY COMMITTEE APPOINTED TO ADDRESS CONFLICTS OF INTEREST, EXCEPT TO THE EXTENT THAT THE ADDITIONAL DISCLOSURE IS NECESSARY IN CONNECTION WITH THE IMPLEMENTATION OF THIS POLICY. PRIOR TO BOARD OR COMMITTEE ACTION ON A CONTRACT OR TRANSACTION INVOLVING A CONFLICT OF INTEREST, A TRUSTEE OR COMMITTEE MEMBER HAVING A CONFLICT OF INTEREST AND WHO IS IN ATTENDANCE AT THE MEETING SHALL DISCLOSE ALL FACTS MATERIAL TO THE CONFLICT OF INTEREST. SUCH DISCLOSURE SHALL BE REFLECTED IN THE MINUTES OF THE MEETING. A TRUSTEE OR COMMITTEE MEMBER WHO PLANS NOT TO ATTEND A MEETING AT WHICH HE OR SHE HAS REASON TO BELIEVE THAT THE BOARD OR COMMITTEE WILL ACT ON A MATTER IN WHICH THE PERSON HAS A CONFLICT OF INTEREST SHALL DISCLOSE TO THE CHAIR OF THE MEETING ALL FACTS MATERIAL TO THE CONFLICT OF INTEREST. THE CHAIR SHALL REPORT THE DISCLOSURE AT THE MEETING AND THE DISCLOSURE SHALL BE REFLECTED IN THE MINUTES OF THE MEETING. A PERSON WHO HAS A CONFLICT OF INTEREST SHALL NOT PARTICIPATE IN OR BE PERMITTED TO HEAR THE BOARD'S OR COMMITTEE'S DISCUSSION OF THE MATTER EXCEPT TO DISCLOSE MATERIAL FACTS AND TO RESPOND TO QUESTIONS. SUCH PERSON SHALL NOT ATTEMPT TO EXERT HIS OR HER PERSONAL INFLUENCE WITH RESPECT TO THE MATTER, EITHER AT OR OUTSIDE THE MEETING. A PERSON WHO HAS A CONFLICT OF INTEREST WITH RESPECT TO A CONTRACT OR TRANSACTION THAT WILL BE VOTED ON AT A MEETING SHALL NOT BE COUNTED IN DETERMINING THE PRESENCE OF A QUORUM FOR PURPOSES OF THE VOTE. THE PERSON HAVING A CONFLICT OF INTEREST MAY NOT VOTE ON THE CONTRACT OR TRANSACTION AND SHALL NOT BE PRESENT IN THE MEETING ROOM WHEN THE VOTE IS TAKEN, UNLESS THE VOTE IS BY SECRET BALLOT. SUCH PERSON'S INELIGIBILITY TO VOTE SHALL BE REFLECTED IN THE MINUTES OF THE MEETING. FOR PURPOSES OF THIS PARAGRAPH, A MEMBER OF THE BOARD OF TRUSTEES OF BROOKHAVEN AT LEXINGTON HAS A CONFLICT OF INTEREST WHEN HE OR SHE STANDS FOR ELECTION AS A TRUSTEE OR FOR RE-ELECTION AS A MEMBER OF THE BOARD OF TRUSTEES. RESPONSIBLE PERSONS WHO ARE NOT MEMBERS OF THE BOARD OF DIRECTORS OF BROOKHAVEN AT LEXINGTON, OR WHO HAVE A CONFLICT OF INTEREST WITH RESPECT TO A CONTRACT OR TRANSACTION THAT IS NOT THE SUBJECT OF BOARD OR COMMITTEE ACTION, SHALL DISCLOSE TO THE CHAIR OR THE CHAIR'S DESIGNEE ANY CONFLICT OF INTEREST THAT SUCH RESPONSIBLE PERSON HAS WITH RESPECT TO A CONTRACT OR TRANSACTION. SUCH DISCLOSURE SHALL BE MADE AS SOON AS THE CONFLICT OF INTEREST IS KNOWN TO THE RESPONSIBLE PERSON. THE RESPONSIBLE PERSON SHALL REFRAIN FROM ANY ACTION THAT MAY AFFECT BROOKHAVEN AT LEXINGTON'S PARTICIPATION IN SUCH CONTRACT OR TRANSACTION. IN THE EVENT IT IS NOT ENTIRELY CLEAR THAT A CONFLICT OF INTEREST EXISTS, THE INDIVIDUAL WITH THE POTENTIAL CONFLICT SHALL DISCLOSE THE CIRCUMSTANCES TO THE CHAIR OR THE CHAIR'S DESIGNEE, WHO SHALL DETERMINE WHETHER THERE EXISTS A CONFLICT OF INTEREST THAT IS SUBJECT TO THIS POLICY. FORM 990, PART VI, SECTION B, LINE 15 BROOKHAVEN'S EXECUTIVE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES ENGAGED AN INDEPENDENT CONSULTANT TO CONDUCT A SURVEY OF CCRC'S WITH SIMILAR REVENUE TO DETERMINE PAY AND BENEFITS FOR THE PRESIDENT/CEO. THE EXECUTIVE COMPENSATION COMMITTEE SHALL CONSIST OF NO FEWER THAN THREE TRUSTEES AND SHALL SET OBJECTIVES AND EVALUATE THE PERFORMANCE OF THE PRESIDENT OF THE CORPORATION AND SHALL REPORT ON SUCH OBJECTIVES AND ITS PERFORMANCE APPRAISAL TO THE BOARD. SUCH APPRAISAL SHALL INCLUDE THE EXECUTIVE COMPENSATION COMMITTEE'S RECOMMENDATION TO THE BOARD OF REASONABLE, FAIR MARKET VALUE COMPENSATION TO BE PAID BY THE CORPORATION TO THE PRESIDENT OF THE CORPORATION. SUCH TOTAL COMPENSATION SHALL BE SUBJECT TO THE APPROVAL OF THE BOARD PROVIDED, HOWEVER, THAT ANY DIRECTOR EMPLOYED BY THE CORPORATION OR WHOEVER OTHERWISE REPORTS TO THE PRESIDENT OF THE CORPORATION SHALL NOT PARTICIPATE IN THE CONSIDERATION OF, OR VOTE UPON, THE COMPENSATION TO BE PAID TO THE PRESIDENT OF THE CORPORATION. THE EXECUTIVE COMPENSATION COMMITTEE DELIBERATED AND RECOMMENDED A SALARY ADJUSTMENT FOR THE PRESIDENT/CEO TO THE FULL BOARD OF TRUSTEES WHO VOTED TO ACCEPT THE RECOMMENDATION. BROOKHAVEN'S EXECUTIVE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES ENGAGED AN INDEPENDENT CONSULTANT TO CONDUCT A SURVEY OF CCRC'S WITH SIMILAR REVENUE TO DETERMINE PAY AND BENEFITS FOR THE SVP/CFO AND VP/HUMAN RESOURCES. THE PRESIDENT/CEO PERFORMED A PERFORMANCE ASSESSMENT OF THE SVP/CFO AND VP/HR AND RECOMMENDED A SALARY ADJUSTMENT FOR THESE POSITIONS BASED ON THE SURVEY DATA AND PERFORMANCE ASSESSMENT. THE RECOMMENDATION AND SURVEY DATA WAS SHARED WITH THE EXECUTIVE COMPENSATION COMMITTEE AND THE FULL BOARD OF TRUSTEES. THE MOST RECENT REVIEW AND APPROVAL BY THE INDEPENDENT PERSONS OCCURED DURING THE FISCAL YEAR OF 2011. FORM 990, PART VI, SECTION C, LINE 19 AUDITED FINANCIAL STATEMENTS ARE MAINTAINED IN A PUBLIC ROOM. RESIDENTS RECEIVE A COPY YEARLY. AUDITED FINANCIAL STATEMENTS ARE UPLOADED TO THE EMMA WEBSITE FOR THE PUBLIC. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -1,089,317. FORM 990, PART XI, LINE 2C THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. BROOKHAVEN'S DEVELOPMENT COMMITTEE FUND RAISES AND MATCHES FUNDS RAISED FROM OPERATIONS FOR THE J. KEITH BUTTER BENEVOLENT FUND, A FUND TO SUPPORT RESIDENTS THAT DEPLETE THEIR ASSETS TO INSURE ONGOING CARE AND SUPPORT SERVICES DURING THEIR LIFETIME.