2012-03-14T07:41:58-05:00 2011-05-31 MOORE STEPHENS LOVELACE P A 14400 NW 77TH COURT SUITE 306 MIAMI LAKES FL 33016 990 2010-06-01 592774476 MORSELIFE FOUNDATION INC MORS 5616875753 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 HONG CHAE 5616875753 2012-03-14 1 LAWRENCE SCHIFF CPA 3058199555 2010 2016-02-24 21:20:13Z KEITH A MYERS 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 3183357 0 X WWW.MORSELIFE.ORG X 1987 FL THE MORSELIFE FOUNDATION WAS ORGANIZED EXCLUSIVELY FOR CHARITABLE, EDUCATION AND SCIENTIFIC PURPOSES TO SUPPORT AND ENCOURAGE HEALTH CARE SERVICES THROUGH PROVIDING FINANCIAL AND MANAGEMENT ASSISTANCE TO MORSELIFE RELATED ENTITIES. THE FOUNDATION FULFILLS THIS PURPOSE BY:- SUPERVISING AND CONDUCTING FUNDRAISING FOR CAPITAL EXPANSION OF THE MORSELIFE ENTITIES- RAISING AND MANAGING ENDOWMENT FUNDS FOR THE BENEFIT OF MORSELIFE ENTITIES- PROVIDING INVESTMENT ADVISORY SERVICES TO MORSELIFE ENTITIES- PERFORMING PUBLIC RELATIONS WORK ON BEHALF OF MORSELIFE ENTITIES 11 11 0 15 0 0 3619673 2192107 0 0 382076 991250 0 0 4001749 3183357 99613 110373 0 0 0 0 0 0 0 1984496 2037923 2084109 2148296 1917640 1035061 43686260 52207695 21373083 25605969 22313177 26601726 X THE MORSELIFE FOUNDATION WAS ORGANIZED EXCLUSIVELY FOR CHARITABLE, EDUCATION AND SCIENTIFIC PURPOSES TO SUPPORT AND ENCOURAGE HEALTH CARE SERVICES THROUGH PROVIDING FINANCIAL AND MANAGEMENT ASSISTANCE TO MORSELIFE RELATED ENTITIES. THE FOUNDATION FULFILLS THIS PURPOSE BY:- SUPERVISING AND CONDUCTING FUNDRAISING FOR CAPITAL EXPANSION OF THE MORSELIFE ENTITIES- RAISING AND MANAGING ENDOWMENT FUNDS FOR THE BENEFIT OF MORSELIFE ENTITIES- PROVIDING INVESTMENT ADVISORY SERVICES TO MORSELIFE ENTITIES- PERFORMING PUBLIC RELATIONS WORK ON BEHALF OF MORSELIFE ENTITIES 0 0 1703783 THE ORGANIZATION SOLICITS AND COLLECTS FUNDS FOR THE BENEFIT OF ITS AFFILIATED TAX-EXEMPT ENTITIES. THE FUNDS ARE GIVEN TO THE AFFILIATES IN SUPPORT OF THEIR TAX-EXEMPT PURPOSE OF PROVIDING SENIOR LIVING ACCOMODATIONS AND HEALTH SERVICES. 1703783 1 1 0 0 0 0 0 0 0 1 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 9 0 1 0 0 0 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 FL X X KARIN DAVIDSON 5612096108 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 ARTHUR S LORING 2.00 X X 0 0 0 STANLEY M KATZ 2.00 X X 0 0 0 STANLEY BRENNER 2.00 X X 0 0 0 DAVID MARKIN 2.00 X X 0 0 0 TERRI SRIBERG 2.00 X 0 0 0 BEATRICE BLOCH 2.00 X 0 0 0 ROY APPLE 2.00 X 0 0 0 ALAN CURTIS 2.00 X 0 0 0 NORMAN P GOLDBLUM 2.00 X 0 0 0 EDWIN LEVINE 2.00 X 0 0 0 RICHARD ROTHSCHILD 2.00 X 0 0 0 KEITH MYERS 8.00 X 0 709912 46802 HONG CHAE 8.00 X 0 87592 2539 MARY ALICE PAPPAS 40.00 X 0 254156 25667 LISA DESMARTEAU 0.00 X 0 147592 12242 DREW GACKENHEIMER 0.00 X 15348 0 0 0 1199252 87250 0 1 1 0 PERKINS EASTMAN ARCHITECTS PC 115 FIFTH AVENUE NEW YORK NY 10003 ARCHITECT 967738 WILESMITH ADVERTISING DESIGN 319 CLEMATIS STREET SUITE 710 WEST PALM BEACH FL 33401 ADVERTISING 111557 2 2192107 2192107 378374 378374 612876 612876 612876 612876 3183357 0 0 991250 110373 110373 300000 300000 1062 1062 37980 37980 79045 79045 4079 4079 5077 5077 850024 850024 7888 7888 FUNDRAISING EXPENSE 739527 739527 BANK CHARGES 16788 16788 DUES AND SUBSCRIPTIONS 1469 1469 MISCELLANEOUS 1040 1040 EXECUTIVE SEPARATION AN 105 105 -6161 -4029 -2132 2148296 1703783 444513 0 2976348 566968 6801332 4688836 -46348 0 3636192 1823 163031 50698 118895 112333 29858324 41755871 156000 156000 185517 4925864 43686260 52207695 527040 387757 18652312 22844296 2193731 2373916 21373083 25605969 X 17030458 21377001 4652719 4594725 630000 630000 22313177 26601726 43686260 52207695 X 1035061 3253488 X X 0 1 1 X 0 X 4572299 2293808 1483385 3619673 2192107 14161272 4572299 2293808 1483385 3619673 2192107 14161272 7942485 6218787 1024545 1075164 780500 325493 378374 3584076 17745348 0.35040 0.48480 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 163031 50698 112333 112333 INVESTMENTS 41755871 C 41755871 ACCRUED INTEREST RECEIVABLE 25809 CASH SURRENDER VALUE OF LIFE INSURA 160227 DUE TO/FROM AFFILIATES 13503 DEVELOPMENT COSTS 4726325 4925864 ANNUITIES PAYABLE 2373916 2373916 3183357 2148296 1035061 3253488 3253488 4288549 6436845 3253488 3253488 3183357 0 3183357 2148296 0 2148296 0 2148296 1 LOLA & SAUL KRAMER SENIOR SERVICES AGENCY INC 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 592753822 501(C)(3) 68100 TO PROVIDE FUNDING FOR THE MITZVAH AND MEALS ON WHEELS PROGRAM. THE FUNDING WAS FROM RESTRICTED CONTRIBUTIONS HELD BY THE FOUNDATION FOR THE PURPOSE OF FUNDING THESE TWO PROGRAMS. VARIOUS RELATED AFFILIATES 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 501(C)(3) 12100 TO PROVIDE FUNDING TO RELATED TAX-EXEMPT AFFILIATES. X X X X X 0 0 0 0 0 0 0 0 0 KEITH MYERS 0 523135 0 150000 0 36777 0 30000 0 16802 0 756714 0 0 MARY ALICE PAPPAS 0 254156 0 0 0 0 0 0 0 0 0 254156 0 0 LISA DESMARTEAU 0 112840 0 0 0 34752 0 0 0 12242 0 159834 0 0 PART I, LINE 5 SEE SCHEDULE O. E DREW GACKENHEIMER SEVERANCE PAY X 1058372 369281 0 1 1 369281 FORM 990, PART VI, SECTION A, LINE 6 MORSELIFE, INC. IS THE SOLE MEMBER OF THE MORSELIFE FOUNDATION, INC. FORM 990, PART VI, SECTION A, LINE 7A MORSELIFE, INC. IS THE SOLE MEMBER OF THE MORSELIFE FOUNDATION, INC. FORM 990, PART VI, SECTION A, LINE 7B MORSELIFE, INC. IS THE SOLE MEMBER OF THE MORSELIFE FOUNDATION, INC. AND, AS SUCH, ELECTS THE BOARD OF DIRECTORS AND HAS ULTIMATE VOTING AND VETO AUTHORITY OVER BOARD DECISIONS. FORM 990, PART VI, SECTION B, LINE 11 AN AUDIT, COMPLIANCE AND ETHICS COMMITTEE, COMPOSED OF ONE OR MORE MEMBERS OF THE BOARD OF DIRECTORS FROM EACH OF THE MORSELIFE RELATED ORGANIZATIONS AND THE SENIOR VICE PRESIDENT OF FINANCE, IS RESPONSIBLE FOR THE REVIEW OF THE FORM 990 BEFORE IT IS FILED. THE TREASURER OF THE SOLE MEMBER CORPORATION, MORSELIFE, INC. IS THE CHAIRPERSON OF THE COMMITTEE. THIS COMMITTEE MEETS WITH THE OUTSIDE, INDEPENDENT AUDITORS A MINIMUM OF TWO TIMES PER YEAR. IT APPROVES THE AUDITED FINANCIAL STATEMENTS AND REVIEWS COMPLIANCE RELATED MATTERS ON A QUARTERLY BASIS. THE COMMITTEE IS RESPONSIBLE FOR THE DETAILED REVIEW OF ALL FORMS 990 FILED BY THE MORSE RELATED ENTITIES. THE FORM 990 IS MADE AVAILABLE, PRIOR TO IT BEING FILED, TO THE FULL BOARD OF DIRECTORS OF THE REPORTING ORGANIZATION. THE 990 IS ALSO AVAILABLE UPON REQUEST THROUGHOUT THE YEAR OR AT WWW.GUIDESTAR.ORG. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REQUIRES ALL BOARD MEMBERS TO SUBMIT A CONFLICT OF INTEREST STATEMENT ON AN ANNUAL BASIS. BOARD MEMBERS WHO DO NOT ADHERE TO THE ORGANIZATION'S CONFLICT OF INTEREST POLICY WILL BE TEMPORARILY SUSPENDED FROM ANY VOTING BOARD ACTIVITY. THE STATEMENTS, WHEN COMPLETED AND RETURNED, ARE REVIEWED BY THE PRESIDENT TO ENSURE THAT THERE ARE NO INADVERTENT CONFLICTS OF INTEREST. MORSELIFE FOUNDATION, INC. IS AN ORGANIZATION CONTROLLED BY MORSELIFE, INC. MORSELIFE, INC.'S COMPENSATION COMMITTEE IS COMPRISED OF THE BOARD MEMBERS. THIS COMMITTEE IS RESPONSIBLE FOR THE SEARCH, SELECTION, CONTRACT NEGOTIATION, PERFORMANCE REVIEWS, BENEFITS, AND ANNUAL SALARY INCREASES OF THE PRESIDENT & CEO POSITION. THE INITIAL CONTRACT NEGOTIATIONS OF THE PRESIDENT & CEO POSITION WERE BASED ON THE COMMITTEE'S REVIEW OF SIMILAR ENTITIES COMPENSATION PACKAGES FOR THE TOP OFFICIAL BASED ON THOSE ENTITIES' PUBLISHED IRS FORM 990. IN ADDITION, THE COMPENSATION COMMITTEE SUBSCRIBES AND PARTICIPATES IN SEVERAL INDEPENDENT SALARY SURVEYS CONDUCTED BY NATIONAL ASSOCIATIONS & OTHER PROVIDER ENTITIES AND UTILIZES THE FINDINGS OF THESE SURVEYS TO ENSURE COMPARABILITY AND APPROPRIATENESS OF THE PRESIDENT/CEO COMPENSATION PACKAGE. THE COMMITTEE MEETS AT LEAST ANNUALLY TO CONDUCT A PERFORMANCE REVIEW OF THE PRESIDENT/CEO. PERFORMANCE IS BASED ON PREVIOUSLY ESTABLISHED METRICS AND BENCHMARKS AND THE ACHIEVEMENT OF THESE GOALS IS THE BASIS FOR FINANCIAL INCENTIVE, BONUS AND ANNUAL SALARY INCREASE. THE COMPENSATION COMMITTEE DOCUMENTS THEIR MEETINGS WITH WRITTEN MINUTES, AS WELL AS MEMOS TO THE SENIOR VICE PRESIDENT OF FINANCE, WITH INSTRUCTIONS REGARDING THE EXECUTIVE COMPENSATION. THE PRESIDENT & CEO OF THE ORGANIZATION IS RESPONSIBLE FOR THE COMPENSATION OF THE MEMBERS OF THE EXECUTIVE TEAM, INCLUDING THE SR. VICE PRESIDENTS AND CHIEF FINANCIAL OFFICER. ANNUAL INCREASES AND BASE SALARY AMOUNTS ARE COMPARED TO THE COMPENSATION PACKAGES FOR SIMILAR POSITIONS UTILIZING OTHER SIMILAR ENTITIES' PUBLISHED IRS FORM 990. IN ADDITION, INDEPENDENT SALARY SURVEYS CONDUCTED BY NATIONAL ASSOCIATIONS & OTHER PROVIDER ENTITIES ARE UTILIZED TO ENSURE COMPARABILITY AND APPROPRIATENESS. THE PRESIDENT & CEO REPORTS ON THE ANNUAL INCREASE, SALARY ADJUSTMENT, AND/OR CHANGE IN BENEFIT PACKAGE FOR THE EXECUTIVE TEAM MEMBERS TO THE COMPENSATION COMMITTEE MADE UP OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 3,253,488. OVERSIGHT OF AUDIT AND SELECTION OF INDEPENDENT ACCOUNTANT FORM 990, PART XII, LINE 2C THE ORGANIZATION'S AUDIT, COMPLIANCE AND ETHICS COMMITTEE IS RESPONSIBLE FOR THE SELECTION, MONITORING AND EVALUATION OF AN INDEPENDENT ACCOUNTING FIRM AND OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS. THERE WAS NO CHANGE IN THIS PROCESS FROM THE PRIOR YEAR. THE TRADITION OF THE PALM BEACHES INC 4920 LORING DRIVE WEST PALM BEACH FL 33417 650888855 SEE SCHEDULE O. FL 501(C)(3) 9 MORSELIFE INC 0 NEARLY NEW THRIFT SHOP OF MORSE GERIATRIC CENTER 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 592533256 RAISES FUNDS TO SUPPORT AFFILIATED TAX-EXEMPT ENTITIES. FL 501(C)(3) 11 MORSELIFE INC 0 MORSELIFE INC 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 650018299 SEE SCHEDULE O. FL 501(C)(3) N/A N/A 0 JOSEPH L MORSE GERIATRIC CENTER INC 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 592120896 OWNS AND OPERATES OF A 280 BED SKILLED NURSING FACILITY FL 501(C)(3) 9 MORSELIFE INC 0 LOLA & SAUL KRAMER SENIOR SERVICES AGENCY INC 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 592753822 PROVIDES HOME HEALTH, ADULT DAY CARE, AND OTHER SERVICES TO SENIORS FL 501(C)(3) 9 MORSELIFE INC 0 FRIENDS OF MORSELIFE INC 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 650329966 RAISES FUNDS TO SUPPORT AFFILIATED TAX-EXEMPT ENTITIES. FL 501(C)(3) 7 MORSELIFE INC 0 0 1 1 0 1 0 0 0 0 0 0 0 0 1 1 0 1 0 JOSEPH L MORSE GERIATRIC CENTER INC E 16682863 THE TRADITION OF THE PALM BEACHES INC E 4154468 LOLA & SAUL KRAMER SENIOR SERVICES AGENCY INC E 979070 LOLA & SAUL KRAMER SENIOR SERVICES AGENCY INC B 54597 JOSEPH L MORSE GERIATRIC CENTER INC M 445872 JOSEPH L MORSE GERIATRIC CENTER INC N 300000 THE TRADITION OF THE PALM BEACHES INC Q 121821 JOSEPH L MORSE GERIATRIC CENTER INC Q 634733 LOLA & SAUL KRAMER SENIOR SERVICES AGENCY INC Q 65861 FRIENDS OF MORSELIFE INC C 1027500 FRIENDS OF MORSELIFE INC P 73556