2012-05-12T13:06:05-05:00 2011-06-30 MCGLADREY LLP 1 S WACKER DRIVE STE 800 CHICAGO IL 60606 990 2010-07-01 363368912 JFMC Facilities Corporation JFMC 3123466700 30 South Wells No 4049 Chicago IL 60606 James A Pinkston 3123574790 2012-05-12 1 David Faje 3126343400 2010 2016-02-24 21:20:13Z Reis A Kayser 30 South Wells No 4049 Chicago IL 60606 18448276 0 X n/a X 1985 IL To own, operate and administer real estate properties and related activities for the benefit of the Jewish Federation of Metropolitan Chicagoand its network of affiliated and beneficiary agencies. 4 3 0 45 0 0 1979578 2346646 17045762 15528208 54367 79547 0 0 19079707 17954401 329612 350941 0 0 3969084 3337343 0 0 0 17158686 16197757 21457382 19886041 -2377675 -1931640 166883620 154402990 189745542 186893402 -22861922 -32490412 To reduce operating costs for Jewish Chicago's communal agencies by lending expertise and achieving economies of scale that assure more resources are available for direct service to people in need. 0 0 17939587 350941 15528208 The sole and exclusive program of FacCorp is to own, operate and manage facilities and properties (31 locations) for the Jewish Federation of Metropolitan Chicago and its affiliate and beneficiary agencies. These agencies operate the programs that provide assistance to 300,000 needy Chicagoans of all faiths including: meals and groceries, utility and rent assistance, prescriptions and medical care; job training and placement; therapeutic school and care for children with disabilities; support services for Holocaust survivors; assisted living, Alzheimer's care and transportation for seniors; respite services for caregivers of seniors and people with disabilities; counseling, prevention and intervention for troubled teens; and an entire continuum of prevention and therapeutic services for individuals and families in crisis. 17939587 1 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 16 0 1 0 0 0 0 0 0 0 0 0 0 0 X 4 3 1 0 0 0 1 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 IL X James A Pinkston 3123574790 30 South Wells Suite 4049 Chicago IL 60606 Steven B Nasatir 37.50 X X 53081 477732 111655 David A Sherman 10.00 X X 0 0 0 Max Schrayer 10.00 X X 0 0 0 Michael Zaransky 10.00 X X 0 0 0 Michael B Tarnoff 37.50 X 31477 283297 25207 James A Pinkston 37.50 X 22353 156467 20432 Peter Chiswick 37.50 X 7073 134393 45832 Kevin Greenberg 37.50 X 0 96971 11388 Reis Kayser 37.50 X 196660 0 42310 Louis Lazovsky 37.50 X 19460 175142 87348 Joseph Salcik 37.50 X 18603 167423 39566 Steven Ori 37.50 X 121110 0 39336 Jerry DeAngelis 37.50 X 105463 0 35200 Fernando Gertzenstein 37.50 X 116238 0 4099 Richard G Katz 37.50 X 120231 0 19976 811749 1491425 482349 5 1 1 0 Securitas Security SVC USA Inc 12672 Collections Center Drive Chicago IL 60693 Security 414681 Eurest Dining Services PO Box 91337 Chicago IL 60693 Food Service & Management 391271 Ron's Landscape & Snow Removal PO Box 340 Prospect Heights IL 60070 Grounds Care & Snow Removal 200157 Spectrum Marketing Inc 1349 Garrison Blvd Gastonia NC 28054 Project Management 169380 WW Grainger Inc 100 Grainger Pkwy Lake Forest IL 60045 Industrial Supplies 152463 6 1954761 391885 2346646 Rental Income 532000 12838775 12838775 Management Service 531390 1359272 1359272 Central Purchasing 900099 1081632 1081632 Other Income 900099 248529 248529 15528208 42581 42581 530841 493875 36966 36966 36966 17954401 15528208 0 79547 350941 350941 811749 509454 302295 1836386 1152516 683870 413525 259288 154237 275683 172859 102824 620990 620990 57736 55849 1887 185376 167707 17669 188012 25256 162756 253490 183028 70462 43050 43050 2881729 2695169 186560 179535 119473 60062 1994 452 1542 4861456 4859424 2032 4744523 4701915 42608 Maintenance & Repairs 1084454 1047356 37098 Security 534624 534624 Confctr Meals/Supplies 375403 375403 185385 64833 120552 19886041 17939587 1946454 0 471495 367689 2083656 1648019 2194118 11851779 31738087 3489032 167951406 36059486 123265061 131891920 3865465 4701269 3265738 453282 166883620 154402990 1851656 1225764 793899 771605 146950000 142460000 7238683 7400910 32911304 35035123 189745542 186893402 X -22861922 -32490412 -22861922 -32490412 166883620 154402990 X -1931640 -7696850 X 0 1 1 X 0 X X X 0 0 0 Jewish Federation of Metropolitan Chicago 362167761 7 1 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 718188 106829 63708 761309 707200 77352 66364 718188 924697 -148369 69128 707200 1.00000 0 0 15708549 15708549 107603070 28518246 79084824 38084255 2767693 35316562 136724 17239 119485 6418808 4756308 1662500 131891920 Due to Jewish Federation 30214647 Deferred Maintenance 4049466 Due to Jewish United Fund 771010 35035123 17954401 19886041 -1931640 77164 -7774014 -7696850 -9628490 18031565 77164 77164 17954401 0 17954401 27660055 7774014 7774014 19886041 0 19886041 Description of Intended Use of Endowment Funds: Part V, Line 4: The endowment fund has been designated by the Board of Directors for the benefit of Council for Jewish Elderly (CJE), an affiliated agency of the Jewish Federation of Metropolitan Chicago. Distributions are made from this endowment fund on an annual basis to CJE and are computed using a formal spending policy that has been approved by the Board. Description of Uncertain Tax Positions Under FIN 48: Part X: The accounting standard on accounting for uncertainty in income taxes addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this guidance, Facilities may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. Examples of tax positions include the tax-exempt status of Facilities, the continued tax-exempt status of bonds issued by Facilities, and various positions related to the potential sources of unrelated business taxable income (UBTI). The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement. The guidance on accounting for uncertainty in income taxes also addresses de-recognition, classification, interest and penalties on income taxes, and accounting in interim periods. At June 30, 2011 and 2010, management has determined that there are no uncertain tax positions. Facilities files annual information returns in the U.S. federal jurisdiction and the State of Illinois. Facilities is generally no longer subject to examination by the Internal Revenue Service for tax years before 2008. Part XI, Line 8 - Other Adjustments: Loss on Karmel Project -7,774,014. Part XIII, Line 2d - Other Adjustments: Loss on Karmel Project 7,774,014. Part XIII, Line 2D - During fiscal year 2011, Facilities Corporation incurred an unrealized loss on a project intended to be the site of a 219-unit Continuing Care Retirement Community (CCRC) in Deerfield, Illinois. The loss includes a write-down based on the appraised value of property plus various soft costs such as architectural and legal fees. The Karmel project was a joint effort between Facilities and Council for Jewish Elderly (CJE) but was terminated in light of the severe downturn in the real estate market, with Facilities and CJE sharing the loss. 1 Jewish Community Center 30 S Wells Suite 4000 Chicago IL 60606 362167758 501(C)(3) 287233 To subsidize rent expense at Weinger Center. Council for Jewish Elderly 3003 West Touhy Avenue Chicago IL 60645 362725797 501(C)(3) 63708 Endowment distribution to subsidize rent expense. 2 0 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: Grants made by JFMC Facilities Corporation (FacCorp) are monitored through an extensive process involving professionals and volunteers that includes submission of budgetary and programmatic information as well as face to face meetings with grant recipients. The grants are also supported by legal agreements between FacCorp and the recipient. X 1 1 X X X 0 1 0 0 0 0 0 0 0 Steven B Nasatir 44129 397159 0 0 8952 80573 9660 86939 1584 14252 64325 578923 0 0 Michael B Tarnoff 26741 240669 0 0 4736 42628 1015 9135 1583 14251 34075 306683 0 0 James A Pinkston 22353 156467 0 0 0 0 672 4703 1961 13730 24986 174900 0 0 Peter Chiswick 7049 133936 0 0 24 457 1884 35803 432 8216 9389 178412 0 0 Reis Kayser 193119 0 0 0 3541 0 29226 0 13787 0 239673 0 0 0 Louis Lazovsky 19412 174711 0 0 48 431 7426 66838 1373 12358 28259 254338 0 0 Joseph Salcik 18591 167321 0 0 12 102 3142 28279 877 7890 22622 203592 0 0 Steven Ori 118877 0 0 0 2233 0 26252 0 13490 0 160852 0 0 0 Richard G Katz 116671 0 0 0 3560 0 14005 0 6343 0 140579 0 0 0 Part I, Line 1a During 2010, JUF paid for a flight for Steve Nasatir's wife. The cost of the airfare was $251. Part I, Line 4b Michael Tarnoff: The Jewish Federation has an agreement with Michael Tarnoff which provides for annual payments of $30,000 per year that began in 2009 and will end in 2019. In addition, the Jewish Federation has agreed to provide Michael Tarnoff with a split dollar $800,000 insured death benefit. The insurance is designed so that upon Michael Tarnoff's death, the Federation will receive a benefit equal to all of the premiums paid. The life insurance benefit is provided tax free to Michael Tarnoff so there is an additional cash payment to Michael Tarnoff each year to cover the taxes on the PS58 costs as well as the taxes grossed up. Steven B. Nasatir: In 1999 the Jewish Federation entered into an agreement with Steven Nasatir that was contingent upon 5 more years of service as president and CEO and would result in annual payments of $50,000 per year (net of tax) beginning at age 64 and lasting throughout his lifetime. Dr. Nasatir began receiving payments under this agreement in 2009. The $50,000 per year amount is to be adjusted annually in accordance with the CPI index. This benefit is payable to him only for as long as he lives. There is no guaranteed payment amount and no survivor benefit at his death. In addition, the Jewish Federation has agreed to provide Steven Nasatir with a split dollar $1,000,000 insured death benefit. The insurance is designed so that upon Steven Nasatir's death, the Federation will receive a benefit equal to all of the premiums paid. The life insurance benefit is provided tax free to Steven Nasatir so there is an additional cash payment to Steven Nasatir each year to cover the taxes on the PS58 costs as well as the taxes grossed up. CECFA - Series A1 840896727 196458TH6 2003-07-23 45170000 Refinance Debt and Renovate Office Space 0 0 0 CECFA - Series A8 840896727 196458J79 2005-07-13 35250000 Acquire and Construct Corporate Offices 0 0 0 CECFA - Series A9 840896727 196458Y64 2006-09-14 13070000 To Finance Various Projects 0 0 0 CECFA - Series A10 840896727 19645RBB6 2007-07-26 20970000 Acquire and Construct Day Camp 0 0 0 47571239 42363520 453420 4754300 2003 1 0 1 1 36128117 386444 35741672 2005 0 0 1 1 13673999 177681 13496318 2006 0 0 1 1 21526422 259386 925000 20342036 2007 0 0 1 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 1 1 JP Morgan Goldman Sachs 0 1 0 0 0 1 1 0 0 0 0 1 1 0 0 0 0 0 1 0 0 0 0 Schedule K, Part IV, Line 3c, Column A, Entity 1 - Term of Hedge: Swap #0500085002433 JP Morgan - 9/1/06-9/1/22 Swap #0500085002434 JP Morgan - 9/1/06-9/1/33 Swap #2000005075107 JP Morgan - 9/1/06-9/1/22 Swap #2000005075108 JP Morgan - 9/1/06-9/1/33 Swap #0500007014191 JP Morgan - 2/5/09-3/1/41 Swap #3105677 JP Morgan - 7/23/03-9/1/06 Swap #NUUO3075F Goldman Sachs - 9/1/06-9/1/22 Schedule K, Part IV, Line 3e, Column A, Entity 1 - Was the hedge terminated The hedge was terminated on 06/09/2009: Swap #2000005075107 JP Morgan - 9/1/06-9/1/22 Swap #2000005075108 JP Morgan - 9/1/06-9/1/33 Schedule K, Part IV, Line 3c, Column B, Entity 2 - Term of Hedge: Swap #0500007014191 JP Morgan - 2/5/09-3/1/41 Swap #6900079332449 JP Morgan - 3/2/09-3/1/41 CECFA - Series F1 840896727 19645RGF2 2008-08-13 16310000 Refund Prior Bond Issues 0 0 0 CECFA - Series C7 840896727 19645RHU8 2009-02-12 30000000 Acquisition of Land and Preconstruction Development of CCRC 0 0 0 16334397 16060291 249709 24397 2008 1 0 1 1 30095953 383237 29712716 2010 0 0 0 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 1 0 0 0 0 0 1 1 JP Morgan 0 0 0 0 0 Form 990, Part VI, Section A, line 2 Steven Nasatir, Officer, and Michael Tarnoff, Officer, have a business relationship. Form 990, Part VI, Section A, line 6 Jewish Federation of Metropolitan Chicago is the sole member of JFMC Facilities Corporation. Form 990, Part VI, Section B, line 11 A copy of the Form 990 was provided to all Board members prior to filing. Each Board member reviewed the Form 990 and had the opportunity to suggest revisions. Form 990, Part VI, Section B, line 12c A conflict of interest questionnaire is circulated to all board members (directors) and key employees on an annual basis. This process is managed by the Executive Director who ensures all questionnaires are completed. The completed questionnaires are reviewed by management and any conflicts are disclosed to the board of directors. If a director does have a conflict or business relationship with JFMC Facilities Corporation, he or she is required to abstain from any votes related to that matter. Form 990, Part VI, Section B, line 15 Compensation of JFMC Facilities Corporation executives is reviewed and approved by the compensation committee of Jewish Federation of Metropolitan Chicago (Federation). Federation's compensation committee is comprised of various Federation Board members, including two individuals who also serve on JFMC Facilities Corporation's Board of Directors, and outside legal counsel. The compensation committee used comparable data from other large nonprofit organizations to ensure executive compensation is consistent with the market, including but not limited to an annual total compensation survey of large city Jewish Federations that is coordinated through the national Jewish Federations of North America organization and conducted each year by the Hay Group, a nationally recognized expert in the field of compensation consulting. Form 990, Part VI, Section C, line 19 The organization's governing documents, conflict of interest policy and audited financial statements are made available to all volunteer members of the Board of Directors. With regards to the general public, the organization provides these documents upon request. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Net unrealized gains on investments: 77,164. Loss on Karmel Project -7,774,014. Total to Form 990, Part XI, Line 5: -7,696,850. Loss on Karmel Project: Effective for fiscal year 2011, Facilities Corporation entered into a triple net lease with Council for Jewish Elderly (CJE) for the Weinberg Senior Living Center and as a result rental income and operating expenses decreased by approximately $1.5 million. Under the terms of the triple net lease, CJE pays for all operating expenses of the property and the rental charge mainly consists of debt service plus management fees. Prior to this lease arrangement, FacCorp paid all operating expenses of the building and these costs were incorporated into the rent along with debt service and management fees. Jewish Federation of Metropolitan Chicago 30 S Wells Suite 4049 Chicago IL 60606 362167761 Social Welfare IL 501(C)(3) 7 N/A 0 Jewish United Fund of Metropolitan Chicago 30 S Wells Suite 4049 Chicago IL 60606 362167034 Fundraising IL 501(C)(3) 7 N/A 0 255 Revere Drive LP 30 S Wells Suite 4049 Chicago IL 60606 363174413 Real Estate IL N/A Related 42553 312500 0 1 0.99000 0 0 1 0 1 0 0 0 0 1 0 0 0 1 1 1 0 0 255 Revere Drive LP J 126932 Cash