2012-07-26T10:42:46-05:00 2011-12-31 010494526 Baker Newman & Noyes LLC Box 507 Portland ME 04112 990 2011-01-01 010496258 Maine Life Care Retirement Community Inc MAIN 2078838700 15 Piper Road Scarborough ME 04074 Patrick O'Reilly 2078838700 2012-06-26 E Drew Cheney P00182972 2078792100 2011 2016-02-24 21:20:13Z Piper Shores Patrick O'Reilly 15 Piper Road Scarborough ME 04074 22767764 0 X www.pipershores.org X 1995 ME Continuing care retirement community 15 15 238 25 0 0 21724 58554 15338213 15044331 794505 1085422 111309 115035 16265751 16303342 0 0 0 0 6170560 6523861 0 0 0 8715172 8683407 14885732 15207268 1380019 1096074 83937545 83929974 87963843 88269111 -4026298 -4339137 Continuing care retirement community 0 0 12539939 15159366 Maine Life Care provides residents with a safe and secure home community, providing for independent living needs and continued health care services for the remainder of their lives. It consists of 160 independent living units, 40 independent living cottages, 20 assisted living units, 40 skilled nursing beds, and common areas. 12539939 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 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 0 0 0 0 0 0 0 1 49 0 1 238 1 0 0 0 0 0 0 0 0 0 0 X 15 15 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 1 1 0 X Richard Ashley 2078838700 15 Piper Road Scarborough ME 04074 X Susan Doliner 2.00 X 0 0 0 Suzanne Austin 4.00 X X 0 0 0 James Harnden 2.00 X 0 0 0 Mary Keysor 2.00 X 0 0 0 Richard Roy 2.00 X 0 0 0 Patrick Costin 2.00 X 0 0 0 Suzanne McCormick 2.00 X 0 0 0 Dennis O'Donovan 2.00 X 0 0 0 Catherine Cloudman 2.00 X 0 0 0 Richard Roderick 2.00 X 0 0 0 Victoria Kuhn 2.00 X 0 0 0 Patrick O'Reilly 4.00 X X 0 0 0 Kathryn Barber 2.00 X 0 0 0 Sylvia Most 2.00 X 0 0 0 Mary Bertolet 4.00 X X 0 0 0 Stephen Larned MD 2.00 X 0 0 0 Stephen Decastro 4.00 X X 0 0 0 Karen Milliken 2.00 X 0 0 0 Matthew O'Reilly 2.00 X 0 0 0 Amy Smith 2.00 X 0 0 0 Michael Bierley 40.00 X 0 0 0 Andrea Killiard 40.00 X 119220 0 11591 Richard Ashley 40.00 X 122622 0 7010 Marcie Ellis 40.00 X 122550 0 12134 Kevin Eames 40.00 X 104964 0 11402 Michelle McGarrity 40.00 X 100648 0 16996 570004 0 59133 5 0 0 0 Hebert Construction LLC 9 Gould Rd Lewiston ME 04240 Construction 1135621 Life Care Services LLC 400 Locust St Suite 420 Des Moines IA 50309 Management 762487 Rehab Works 11350 McCormick Rd Hunt Valley MD 21031 Physical therapy 307385 Gawron Turgeon 29 Black Point Rd Scarborough ME 04074 Architects 232641 Ethos Marketing & Design 907 Main St Westbrook ME 04092 Marketing 168820 5 58554 58554 Resident services 623000 15044331 15044331 15044331 477350 477350 7055504 16990 6462582 1840 592922 15150 608072 608072 115035 115035 115035 16303342 15159366 0 1085422 5332791 4144130 1188661 115999 90143 25856 677037 598380 78657 398034 322474 75560 762487 762487 39484 39484 27000 27000 39980 39980 205669 205669 77878 50843 27035 2267371 2267371 1122914 1066768 56146 2186574 2077245 109329 267805 236340 31465 Dining services 864661 864661 Health services 735389 735389 Housekeeping & laundry 76195 76195 Bad debt expense 10000 10000 15207268 12539939 2667329 0 10961117 10948958 291594 314088 330798 295207 26700 26393 234866 281644 66386620 19028888 46110859 47357732 24843962 23711621 1137649 994331 83937545 83929974 1476847 1979607 58424146 59175483 25919615 25019298 2143235 2094723 87963843 88269111 X -4578405 -4941031 552107 601894 -4026298 -4339137 83937545 83929974 X 1096074 -1408913 X X 0 1 1 X 0 X 427809 36774 21724 58554 544861 14204025 14497101 15106196 15449522 15159366 74416210 14204025 14924910 15142970 15471246 15217920 74961071 0 0 0 74961071 894892 589020 518476 470109 477350 2949847 894892 589020 518476 470109 477350 2949847 15098917 15513930 15661446 15941355 15695270 77910918 0.96210 0.95690 0.03790 0.04310 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 584193 63324 -6682 640835 515140 39254 29799 584193 445059 20957 49124 515140 463738 -18679 445059 0.00000 0.00000 1.00000 0 0 2837480 2837480 50205288 12565279 37640009 4726480 3545533 1180947 8617372 2918076 5699296 47357732 Deposits 2094723 2094723 16303342 15207268 1096074 -1408913 -1408913 -312839 14894429 -1408913 -1408913 16303342 0 16303342 15207268 0 15207268 0 15207268 Description of Intended Use of Endowment Funds: Part V, Line 4: The endowment fund will be used to help the community with the loss of revenue from residents whose financial resources have eroded and to help stabilize resident monthly fees. Gifts to the endowment fund may also support projects and programs that might otherwise not be affordable. Description of Uncertain Tax Positions Under FIN 48: Part X: Tax-exempt organizations could be required to record an obligation for income taxes as the result of a tax position they have historically taken on various tax exposure items including unrelated business income or tax status. The Community has evaluated the positions taken on its filed tax returns. The Community has concluded no uncertain income tax positions exist at December 31, 2011. The Community's tax years from 2008 through 2011 are open and subject to examination. MHHEFA Series 2004B 010314384 2004-12-09 42265000 Construction & refund $24.9M rev. bonds, Piper Shores issue, Series 1999A 0 0 0 30146249 2298751 192594 3171508 2005 0 0 1 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 0 0 0 0 Schedule K Supplental Information Maine Health and Higher Educational Facilities Authority issued its $42,265,000 revenue bonds, Series 2004B on December 9, 2004 and loaned $30,146,249.32 of that amount to Maine Life Care Retirement Community, Inc. Maine Life Care issued its $30,146,249.32 Series 2004B note to evidence its obligation to repay that loan. (The loan was part of a MHHEFA pool that also financed other facilities of other borrowers). Form 990, Part VI, Section A, line 3 Life Care Services LLC (LCS) manages the organization. The executive director is an employee of LCS. Form 990, Part VI, Section B, line 11 The finance committee reviews and accepts the Form 990 and the board affairs committee reviews the governance section. Copies are distributed to the entire board before filing. Form 990, Part VI, Section B, line 12c Officers & directors complete a questionnaire and the executive director reviews the disclosures & information is submitted to the bureau of insurance annually. Form 990, Part VI, Section B, line 15 The management company sets compensation for the executive director and administrator based on numerous factors including comparability data and industry information. The executive director sets compensation for top management based on industry data. Form 990, Part VI, Section C, line 19 Form 990 and other documents are provided upon request. Form 990 may also be viewed at www.guidestar.org. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Net unrealized losses on investments: -1,408,913. Form 990, Part XII, line 2c: The finance committee is responsible for overseeing the audit of the financial statements and selecting an independent auditor.