2012-05-04T13:03:49-05:00 2011-06-30 CBIZ TOFIAS 500 BOYLSTON STREET BOSTON MA 02116 990 2010-07-01 223042122 LASELL VILLAGE INC LASE 6176637000 120 SEMINARY AVE AUBURNDALE MA 02466 MICHAEL J HOYLE PH D 6176637000 2012-04-27 1 JOSEPH M GISO MST 6177610600 2010 2016-02-24 21:20:13Z MICHAEL B ALEXANDER 120 SEMINARY AVE AUBURNDALE MA 02466 18865459 0 X WWW.LASELLVILLAGE.COM X 1990 MA LASELL VILLAGE, SPONSORED BY LASELL COLLEGE, IS HOME TO SOME 201 RESIDENTS IN ITS INDEPENDENT LIVING APARTMENTS AND INCLUDES LASELL HOUSE, A 38 BED SKILLED NURSING FACILITY. OPEN SINCE MAY 2000, THE VILLAGE COMBINES THE ELEMENTS OF LIFELONG LEARNING, RETIREMENT LIVING, SUPPORT SERVICES, SHORT-TERM REHABILITATION AND LONG-TERM CARE. 10 10 234 15 0 0 0 0 15882862 16231483 354786 615039 193416 202191 16431064 17048713 0 0 0 0 5311453 5360076 0 0 0 10644330 10956394 15955783 16316470 475281 732243 70119752 71652948 92585913 91295862 -22466161 -19642914 X LASELL VILLAGE, SPONSORED BY LASELL COLLEGE, IS HOME TO SOME 201 RESIDENTS IN ITS INDEPENDENT LIVING APARTMENTS AND INCLUDES LASELL HOUSE, A 38 BED SKILLED NURSING FACILITY. OPEN SINCE MAY 2000, THE VILLAGE COMBINES THE ELEMENTS OF LIFELONG LEARNING, RETIREMENT LIVING, SUPPORT SERVICES, SHORT-TERM REHABILITATION AND LONG-TERM CARE. 0 0 14155578 16231483 LASELL VILLAGE OPERATES A CONTINUING CARE RETIREMENT COMMUNITY AND PROVIDES, IN COOPERATION WITH LASELL COLLEGE, RESIDENTIAL AND NON-RESIDENTIAL EDUCATION PROGRAMS FOR ELDERLY PERSONS. THROUGH INTERGENERATIONAL LEARNING ACTIVITIES WITH THE FACULTY AND STUDENTS OF LASELL COLLEGE AND PROGRAMS SPONSORED BY THE ON-SITE ROSEMARY B. FUSS CENTER FOR RESEARCH ON AGING AND INTERGENERATIONAL STUDIES, LASELL VILLAGE DISSEMINATES CURRENT AND BROAD-BASED INFORMATION ABOUT AGING AND FACTORS THAT CONTRIBUTE TO WELL-BEING IN LATER LIFE. LASELL VILLAGE SPONSORS AND PARTNERS IN RESEARCH WITH OTHER EDUCATIONAL AND RESEARCH INSTITUTIONS REGARDING THE COGNITIVE, EMOTIONAL, PHYSICAL NEEDS AND CAPABILITIES OF THE ELDERLY AND THE VALUE OF CONTINUED LEARNING IN LATER LIFE. NUMBER OF RESIDENTS ENROLLED PER SEMESTER AND THE NUMBER OF COURSES OFFERED:FALL 2010: 181 RESIDENTS ENROLLED IN 21 COURSESSPRING 2011: 180 RESIDENTS ENROLLED IN 20 COURSESSUMMER 2011: 176 RESIDENTS ENROLLED IN 19 COURSES 14155578 1 1 0 0 0 1 0 0 0 1 1 0 1 1 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 1 0 0 0 0 1 29 0 1 234 1 0 0 0 0 0 0 0 0 0 0 X 10 10 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X SHARI MEGA DIR OF BUS FINANCE 6176637000 LASELL VILLAGE 120 SEMINARY AVE AUBURNDALE MA 02466 ELLEN OFFNER 0.80 X X 0 0 0 JACK LEONARD 0.50 X X 0 0 0 SALLY ANDREWS 0.50 X X 0 0 0 ADELE FLEET BACOW 0.50 X 0 0 0 FREDDY FRANKEL 0.50 X 0 0 0 CLAIRE MCGUIRE 0.50 X 0 0 0 KENNETH LLOYD MINAKER 0.50 X 0 0 0 RUTH NEMZOFF 0.50 X 0 0 0 GERALD POLCARI 0.50 X 0 0 0 MARGERY SILVER 0.50 X 0 0 0 PAMELA FARIA 0.50 X 0 103453 14113 MICHAEL ALEXANDER 5.00 X 0 293388 35948 DR MICHAEL J HOYLE 5.00 X 0 178409 21857 DR PAULA PANCHUCK 40.00 X 0 170127 23266 ELIZABETH IHENACHO 40.00 X 117162 0 23432 EDITH EBOZUE 40.00 X 102013 0 20403 GINA ST FLEUR 40.00 X 101124 0 20225 320299 745377 159244 3 0 1 0 LASELL COLLEGE 1844 COMMONWEALTH AVE NEWTON MA 02466 MANAGEMENT CONTRACT 1242123 GENESIS REHABILITATION SERVICES PO BOX 7247-6524 PHILADELPHIA PA 19170 REHAB FOR SKILLED NURSING UNIT 740509 GENESIS ELDERCARE 101 EAST STATE STREET 3RD FLOOR KENNETT SQUARE PA 19348 SKILLED NURSING MGMT. CONTRACT 383401 3 RESIDENTIAL FEES 623000 8813373 8813373 SKILLED NURSING 623000 4338351 4338351 EARNED ENTRANCE FEE 623000 2490407 2490407 RESIDENTIAL FEES OTHER 623990 589352 589352 16231483 605564 605564 1826221 1816746 9475 9475 9475 OTHER INCOME 900099 202191 202191 202191 17048713 16231483 0 817230 207229 207229 4302085 3921385 380700 143488 119333 24155 393765 357986 35779 313509 284385 29124 743606 743606 17351 17351 110362 110362 33332 33332 1445995 1323626 122369 31213 31213 23884 9933 13951 82959 75449 7510 3340710 3218372 122338 3228 3228 7621 1394 6227 823257 768099 55158 2604340 2429849 174491 204826 191103 13723 REAL ESTATE TAXES 597602 597602 FACILITIES MAINT. CONT. 554678 554678 LAND LEASE 205840 205840 RESIDENT ACTIVITIES 61433 61433 SUPPLIES 21754 21754 42403 35111 7292 16316470 14155578 2160892 0 2489481 3002127 4985837 1879635 2112803 2089684 358000 279300 1542838 1540491 64158462 23554952 42032380 40603510 8467327 10756976 7250961 10764947 880125 736278 70119752 71652948 1032053 1222190 827603 861383 19380000 18990000 71346257 70222289 92585913 91295862 X -22466161 -19642914 -22466161 -19642914 70119752 71652948 X 732243 2091004 X 0 1 1 X 0 X 14161665 14720833 15271552 15882862 16231483 76268395 14161665 14720833 15271552 15882862 16231483 76268395 214330 190186 240716 253104 269224 1167560 0 214330 190186 240716 253104 269224 1167560 75100835 902291 884711 463823 382676 605564 3239065 902291 884711 463823 382676 605564 3239065 106968 124064 167478 193416 202191 794117 15170924 15729608 15902853 16458954 17039238 80301577 0.93520 0.93180 0.04030 0.04490 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 1 2.20 0 0 0 1 1 0.00 10000 1 60020727 20756262 39264465 4010752 2798690 1212062 126983 126983 40603510 CORPORATE BONDS 10764947 F 10764947 NET BOND ISSUANCE COSTS 327074 CONTRACTS 313204 CASH LIMITED AS TO USE, RESIDENTIAL WAIT LIST DEPOSITS 96000 736278 REFUNDABLE DEPOSITS & INTEREST 96000 DUE TO AFFILIATE 99145 NONREFUNDABLE ENTRANCE FEES 4808919 REFUNDABLE ENTRANCE FEES 62275616 FAIR VALUE OF INTEREST SWAP 2942609 70222289 17048713 16316470 732243 2082745 8259 2091004 2823247 19139717 2082745 8259 2091004 17048713 0 17048713 16316470 0 16316470 0 16316470 EXPLANATION OF EASEMENTS ENFORCEMENT POLICIES: PART II, LINE 5: MEMBERS OF THE CITY'S CONSERVATION COMMITTEE VISIT THE LOCATION TO ENSURE THAT WE ARE IN COMPLIANCE. DESCRIPTION OF HOW ORGANIZATION REPORTS CONSERVATION EASEMENTS: PART II, LINE 9: THE EXPENSE FOR THE CONSERVATION EASEMENT IS INCLUDED IN OUR LANDSCAPING EXPENSES. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE VILLAGE ACCOUNTS FOR THE EFFECT OF ANY UNCERTAIN TAX POSITIONS BASED ON A "MORE LIKELY THAN NOT" THRESHOLD TO THE RECOGNITION OF THE TAX POSITIONS BEING SUSTAINED BASED ON THE TECHNICAL MERITS OF THE POSITION UNDER SCRUTINY BY THE APPLICABLE TAXING AUTHORITY. IF A TAX POSITION OR POSITIONS ARE DEEMED TO RESULT IN UNCERTAINTIES OF THOSE POSITIONS, THE UNRECOGNIZED TAX BENEFIT IS ESTIMATED BASED ON A "CUMULATIVE PROBABILITY ASSESSMENT" THAT AGGREGATES THE ESTIMATED TAX LIABILITY FOR ALL UNCERTAIN TAX POSITIONS. THE VILLAGE HAS IDENTIFIED ITS TAX STATUS AS A TAX-EXEMPT ENTITY AS ITS ONLY SIGNIFICANT TAX POSITION; HOWEVER, THE VILLAGE HAS DETERMINED THAT SUCH TAX POSITION DOES NOT RESULT IN AN UNCERTAINTY REQUIRING RECOGNITION. THE VILLAGE IS NOT CURRENTLY UNDER EXAMINATION BY ANY TAXING JURISDICTIONS. THE VILLAGE'S FEDERAL AND STATE TAX RETURNS ARE GENERALLY OPEN FOR EXAMINATION FOR THREE YEARS FOLLOWING THE DATE FILED. PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN FAIR VALUE OF INTERST RATE SWAP 8,259. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN FAIR VALUE OF INTEREST RATE SWAP 8,259. X X X X X 0 0 0 0 0 0 0 0 0 MICHAEL ALEXANDER 0 270319 0 12250 0 10819 0 18375 0 17573 0 329336 0 0 DR MICHAEL J HOYLE 0 165855 0 10000 0 2554 0 12750 0 9107 0 200266 0 0 DR PAULA PANCHUCK 0 153623 0 15000 0 1504 0 11995 0 11271 0 193393 0 0 MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 57583RMT9 2007-06-14 20285000 REFINANCE THE PROJECTS FINANCED WITH SERIES 1998A AND SERIES 2002 BONDS. 0 0 0 20285000 19870493 369020 45487 2007 1 1 1 1 0 1 1 BANK OF AMERICA 30.000000000000 0 0 0 0 0 FORM 990, PART VI, SECTION A, LINE 3 THE GOVERNING BODY OF LASELL VILLAGE HAS AUTHORIZED LASELL COLLEGE THROUGH A MANAGEMENT CONTRACT AS THE MANAGEMENT COMPANY TO PERFORM THE MANAGEMENT DUTIES TYPICALLY HANDLED BY DIRECT SUPERVISION OF OFFICERS OR KEY EMPLOYEES. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS PROVIDED TO ALL BOARD MEMBERS WAS REVIEWED BY THE BOARD OF TRUSTEES AT A MEETING HELD ON 4/20/12 PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C OUR ORGANIZATION REGULARLY AND CONSISTENTLY ENFORCES COMPLIANCE WITH OUR WRITTEN CONFLICT OF INTEREST POLICY BY HAVING EACH TRUSTEE, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH BOARD DELEGATED POWERS ANNUALLY SIGN A STATEMENT WHICH AFFIRMS THEIR UNDERSTANDING OF THE POLICY AND WHETHER OR NOT A CONFLICT EXISTS. THE POLICY IS ALSO REVIEWED ANNUALLY WITH MANAGERS, WHICH IN TURN REVIEW ANNUALLY WITH THEIR STAFF. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES OF LASELL COLLEGE CONDUCTS AN ANNUAL WRITTEN EVALUATION OF THE PRESIDENT OF THE COLLEGE WHOSE DUTIES ALSO INCLUDE BEING CEO OF LASELL VILLAGE AND ESTABLISHES COMPENSATION BASED ON PERFORMANCE AND, AMONG OTHER DATA, CONSIDERS A COMPARISON OF PRESIDENTS AND CEO'S AT SIMILAR SIZED INSTITUTIONS. THE PRESIDENT/CEO IN CONSULTATION WITH THE VP OF LASELL VILLAGE REVIEWS THE PERFORMANCE OF EACH KEY EMPLOYEE AGAINST A WRITTEN SET OF GOALS. COMPENSATION IS DETERMINED BY REVIEWING SALARY DATA OF THE RESPECTIVE POSITIONS AT SIMILAR SIZED PEER INSTITUTIONS. FORM 990, PART VI, SECTION C, LINE 19 THE 990 IS AVAILABLE ON GUIDESTAR AND THE MASSACHUSETTS ATTORNEY GENERAL'S WEBSITE. THE FORM 1023 IS AVAILABLE UPON REQUEST. ALSO AVAILABLE UPON REQUEST ARE OUR GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 2,082,745. CHANGE IN FAIR VALUE OF INTERST RATE SWAP 8,259. TOTAL TO FORM 990, PART XI, LINE 5: 2,091,004. LASELL COLLEGE INC 1844 COMMONWEALTH AVENUE NEWTON MA 02466 042103585 EDUCATION MA 501(C)(3) LINE 6 N/A 0 LASELL INC 1844 COMMONWEALTH AVENUE NEWTON MA 02466 861070319 ADMINISTRATIVE SUPPORT MA 501(C)(3) LINE 11B, II N/A 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0