2012-08-14T10:04:13-05:00 2011-09-30 ERNST & YOUNG US LLP 111 MONUMENT CIRCLE SUITE 2600 INDIANAPOLIS IN 46204 990 2010-10-01 383707573 NEWBRIDGE ON THE CHARLES INC NEWB 6173258000 1200 Centre Street Boston MA 02131 JAMES D HART 2012-07-26 3176817440 2010 2016-02-24 21:20:13Z LEN FISHMAN 1200 CENTRE STREET BOSTON MA 02131 41515029 false X www.hebrewseniorlife.org X 2004 MA TO OPERATE A CONTINUING CARE RETIREMENT COMMUNITY THAT PROVIDES SENIORS WITH INDEPENDENT LIVING CHOICES THAT CAN ENRICH AND ENHANCE THEIR LIVES, COMBINED WITH THE SAFETY, SECURITY AND HEALTHCARE OPTIONS 6 3 411 60 0 0 0 0 21449151 39592939 798844 -156991 2909284 75008 25157279 39510956 0 0 0 0 10133062 11386763 0 0 0 50766773 50218351 60899835 61605114 -35742556 -22094158 455770988 425201469 497502430 483747688 -41731442 -58546219 X IN THE SPIRIT OF THE FIFTH COMMANDMENT, AS ILLUMINATED BY THE TRADITIONS OF THE JEWISH PEOPLE, OUR MISSION IS TO HONOR OUR ELDERS,BY RESPECTING AND PROMOTING THEIR INDEPENDENCE, SPIRITUAL VIGOR, DIGNITY AND CHOICE, AND BY RECOGNIZING THAT THEY ARE A RESOURCE TO BE CHERISHED. AS PART OF OUR MISSION, WE ACCEPT SPECIAL RESPONSIBILITY FOR THE FRAILEST AND NEEDIEST MEMBERS OF OUR COMMUNITY WHO ARE MOST DEPENDENT ON OUR CARE. EVERYTHING WE DO FLOWS FROM THESE TENETS AND IS FURTHER INSPIRED BY THE DUTY OF TIKKUN OLAM-TO HEAL THE WORLD. WE SEEK TO FULFILL THIS MISSION BY: - PROVIDING A COMPLETE AND INTEGRATED SPECTRUM OF THE HIGHEST QUALITY HEALTH CARE AND HOUSING FACILITIES AND SERVICES FOR SENIORS - CONDUCTING MEDICAL AND SOCIAL GERONTOLOGICAL RESEARCH TO IMPROVE SENIORS' HEALTH AND QUALITY OF LIFE - TEACHING FUTURE GENERATIONS OF HEALTH CARE PROFESSIONALS - ADVOCATING FOR POLICIES AND PROGRAMS THAT BENEFIT SENIORS AND THEIR FAMILIES - PROVIDING NATIONAL AND INTERNATIONAL LEADERSHIP IN THE F false false 26900197 14121650 Independent Living - When moving to NewBridge on the Charles, residents enjoy the freedom from home ownership, the convenience of services and amenities, and the flexibility to enjoy a wide range of activities. But perhaps the biggest benefit is peace of mind that comes with knowing they have a full spectrum of health care services and living accommodations as their needs change over time. This continuum of care extends from independent living to assisted living, to skilled rehabilitative and long-term nursing care - all in one community. A medical practice as well as home health care is provided on the campus. In our health care center, care is provided from an interdisciplinary team of specialists from Hebrew Rehabilitation Center/Hebrew SeniorLife - an internationally recognized leader in geriatric research, training and education. This team includes geriatricians/physicians and geriatric nurse practitioners, rehabilitation specialists, social workers, and certified nurse assistants, working together to ensure an individual's care plan is comprehensive and seamless. At NewBridge, it's all about building a lifestyle that best suits your preferences and needs. For example, if one spouse requires assistance with daily living while the other is independent, or, if both want to live independently but need specialized care or support, NewBridge offers home health care services and specialty outpatient clinics. Residents also have options when it comes to recuperative services in short- or long-term care. We offer residents priority and flexibility in helping them make decisions when they are faced with medical care issues. Independent Living NewBridge is a community designed for independent living, offering flexibility to residents who enjoy scheduling their own daily activities while knowing they can be spontaneous at any given moment. We continually offer new programs, workshops, and events as part of our commitment to lifelong learning. Our philosophy of lifelong learning goes hand in hand with our approach to providing a continuum of wellness - addressing the "whole person" and integrating the physical, emotional, and spiritual dimensions of aging. The Cottage Community at NewBridge is designed for older adults who value an active, independent lifestyle. Life in the Cottages offers a combination of private home living and close proximity to NewBridge's selection of programs, amenities, and activities. Cottage residents can select from three home models, each offering different finishes and floor plan choices. Homes range from 1,475 to 2,700 square feet. Some include a lower level, a loft, or both - increasing the living space up to 3,200 square feet. Homes also feature a private one- or two-car garage. Situated on a quiet, private setting, the Villas at NewBridge are conveniently accessible to the Community Center by an underground walkway or through the courtyard garden. The spacious interiors offer high ceilings, exceptional amenities, large windows, and underground parking. The two-bedroom villas, which are more intimate versions of our apartments, range in size from 1,589 to 1,800 square feet. Each villa is a corner residence to allow for plenty of light, with each home served by an elevator located in a lobby in the center of the building. For optimal convenience, the NewBridge Apartments are located within the Carl J. and Ruth Shapiro Community Center and two adjacent buildings. These homes offer cozy and innovative floor plans ranging in size from nearly 1,000 to just over 2,000 square feet. They feature gourmet kitchens, nine-foot ceilings, and expansive windows providing exceptional views of the meadows, gardens and courtyards. All apartments have access to underground parking spaces and spacious storage lockers, while other features include screened-in porches, fireplaces, and a great room Assisted Living The Traditional Assisted Living Program at NewBridge is a key component of our Continuing Care Retirement Community (CCRC) providing the opportunity for those who wish to live in a supportive community or for current independent living residents to continue residing on our campus. In 51 traditional assisted living apartments, NewBridge fosters a deep sense of community and home away from home in a compassionate environment for seniors. At the core of this area is a full service dining room and library as well as activity and meeting rooms. In addition to providing personalized supportive services in a warm and inviting setting, our Traditional Assisted Living Program reflects the many services, programs and amenities unique to NewBridge on the Charles. For example, residents have plenty of opportunities to enjoy a wide range of lifelong learning activities, music and art presentations, wellness programs and multigenerational activities with students from the neighboring Rashi School. ________________________________________ The Newbridge Memory Support Assisted Living Program is a nationally renowned model of comprehensive care designed to enhance cognitive and physical abilities in a safe environment. As a key component of the Assisted Living Program, there are 41 apartments on the NewBridge campus for those with dementia-related conditions. We offer an individualized care plan for each resident, focusing on therapies and approaches that are specific to each individual's strengths and needs throughout daily activities. One of the many benefits we offer is the convenience of not having to travel for medical appointments. Residents may choose to join our onsite primary care practice, located in the health care center. Our Harvard Medical School-affiliated geriatricians provide continuous, coordinated and seamless care. We Offer Special Services for Residents Requiring Memory Support Through our specialized approach for individuals who need memory support, we focus on encouragement, dignity, and creating feelings of success. Among our many benefits, we offer: - Individualized service plans - Private studio apartments with individual baths - Three nutritious "healthy mind" meals and snacks - Resident-secure entry and exit - Enclosed courtyard and gardens - Regularly scheduled enrichment and fitness programs - 24-hour professional resident care staff - On-site nursing staff - Incontinence care - Medication management 7518108 7959060 Assisted Living - Recuperative Services Unit/SNF Hebrew Rehabilitation Center (HRC) at NewBridge - located in the Gloria Adelson Field Health Center - is a pioneering, state-of-the-art geriatric health care center that offers comprehensive short-term rehabilitative services, long-term care, and a memory care unit. Building on Hebrew SeniorLife's holistic approach to care, HRC serves as ground-breaking model in creating an optimal living environment and providing the types of services and programs that seniors best respond to physically and emotionally when in short- or long-term care. The private rooms and common living spaces resemble all the charm and coziness of home, providing plenty of natural light, warmth, and comfort. We offer the community access to an outstanding array of rehabilitation options through our Recuperative Services (RSU), a skilled nursing unit. On the NewBridge campus there are 48 beds for short-term rehabilitation care. Physicians representing dozens of medical specialties, as well as nurses and therapists, are available for consultation to ensure that every patient need is addressed. Our intake coordinator and case managers will screen the patient and either accept or deny admission. If the referral is accepted, we will arrange a transfer time with the appropriate case manager at the hospital. Most major insurances are accepted. 20205267 16655988 Gloria Adelson Field Health Center - Long term care and skilled nursing facility - 767475 856241 55391047 true false false true false false false true false true false false false true false true true false false false false false false false false false false false true true false false false false false false false false false false false false false false false true false false false false true 0 0 411 true false false false false false false false false false false X 6 3 false false false false true true true true true false false true false false false true true false MA X Michael Hefron 7814349081 5000 Great Meadow Road Dedham MA 02026 X Thomas Alperin 0.5 X X 0 0 0 Howard Cohen 0.5 X X 0 0 0 Jay L Webber 0.5 X X 0 0 0 Len Fishman 10.0 X X 0 931222 17555 Lou Woolf 10.0 X X 0 437913 14977 JAMES D HART 10.0 X X 0 275766 10953 LAURENCE GERBER 1.0 X 0 0 0 SYLVIA BAND 1.0 X 0 0 0 LILLIAN GLICKMAN 1.0 X 0 0 0 PETER GORDON 1.0 X 0 0 0 ED HERSHFIELD 1.0 X 0 0 0 JESSICA LANGSAM 1.0 X 0 0 0 CHERYL LAPPEN 1.0 X 0 0 0 MAHMOOD MALIHI 1.0 X 0 0 0 ROGER TACKEFF 1.0 X 0 0 0 STEVEN J WEINSTEIN 1.0 X 0 0 0 NATALIE WOLF 1.0 X 0 0 0 Alessandra De Vaca 10.0 X 0 195635 18720 Michelle Rezendes 0.5 X 0 79462 13605 Cara Spalla 50.0 X 0 183541 2234 Stephen Colwell 50.0 X 132940 0 2302 Michael Hefron 50.0 X 120764 0 13285 Barbara Rissman 50.0 X 115272 0 7511 368976 2103539 101142 3 false true false 0 0 Independent Living Monthly Fees 623000 10998200 10998200 Assited Living Monthly Fees 623000 7959060 7959060 Health Care Center 623000 16655988 16655988 Earned Entrance Fees 623000 3123450 3123450 Culinary 623000 305557 305557 550684 550684 39592939 16944 16944 744939 744939 0 75008 0 75008 75008 75008 1085199 2004073 -918874 -918874 -918874 0 0 0 0 39510956 39592939 -81983 0 0 0 0 0 0 8381512 7680682 700830 0 3005251 2814466 190785 0 795541 795541 110917 110917 56925 56925 0 0 0 2476480 2068665 407815 0 184969 144296 40673 497971 497971 0 4213259 4082325 130934 100089 97085 3004 0 4433 1210 3223 11923340 11913109 10231 0 19341114 18229062 1112052 352691 352691 FOOD & BEVERAGE COST 3509627 3499085 10542 SKILLED NURSING FACILITY 3482602 3482602 SHARED SERVICES AFFILIATE 1789933 1789933 REAL ESTATE TAXES 1378460 1378460 61605114 55391047 6214067 0 10541463 4587113 41904163 39812069 410124 439108 293600 0 43264 47289 69430 86615 409147341 41322060 387788292 367825281 14720652 12403994 455770988 425201469 10021519 7128436 307140000 281060000 556933 606282 179783978 194952970 497502430 483747688 X -41731442 -58546219 -41731442 -58546219 455770988 425201469 X -22094158 5279381 X false true true X false X 2691050 21622870 39592939 63906859 2691050 21622870 39592939 63906859 63906859 33226 504950 281827 873440 836891 2530334 33226 504950 281827 873440 836891 2530334 33226 504950 2972877 22496310 40429830 66437193 0.96191 0.93410 0.03809 0.06590 X false false false false false true 2230 false false 2230 LOBBYING ACTIVITIES PART II-B, LINE 1F HEBREW SENIORLIFE MAINTAINS MEMBERSHIPS WITH CERTAIN ASSOCIATIONS. OF THE TOTAL DUES PAID, $2,230 WAS USED FOR LOBBYING FOR ELDER CARE. LEADING AGE MASSACHUSETTS $1,132 MASSACHUSETTS ALFA $1,099 false true 18158924 18158924 215834552 12087229 203747323 158825 3719 155106 91798618 13548737 78249881 83196422 15682375 67514047 367825281 0 NON-REFUNDABLE ENTRANCE FEES, NET 20415908 REFUNDABLE ENTRANCE FEES 163670273 INTEREST RATE SWAP 8454600 ENTRANCE FEE DEPOSITS 2412190 194952970 39510956 61605114 -22094158 5279384 5279384 -16814774 44790339 5279383 5279383 39510956 39510956 61605114 61605114 61605114 ASC 740 DISCLOSURE SCH D, PART X, LINE 2 NEWBRIDGE ON THE CHARLES' FINANCIAL STATEMENTS DO NOT INCLUDE A FOOTNOTE RELATED TO ASC 740. ESCROW LIABILITY PART X, LINE 21 IN ACCORDANCE WITH MASSACHUSETTS LAW, LAST MONTH RENT DEPOSITS FOR THE ASSISTED LIVING RESIDENTS ARE HELD IN ESCROW. CHANGE IN NET ASSETS SCH D, PART XI, LINE 8 CHANGE IN VALUE OF INTEREST RATE SWAP 5,297,384 false false false false false false false false false Len Fishman 0 501769 0 265627 0 163826 0 4900 0 12655 0 948777 0 0 Lou Woolf 0 437913 0 0 0 0 0 1712 0 13265 0 452890 0 0 JAMES D HART 0 275766 0 0 0 0 0 646 0 10307 0 286719 0 0 Alessandra De Vaca 0 195635 0 0 0 0 0 4047 0 14674 0 214356 0 0 Cara Spalla 0 183541 0 0 0 0 0 1992 0 242 0 185775 0 0 Supplemental Compensation Information Schedule J, Part I, Line 1a Len Fishman, CEO, receives a housing allowance provided by Hebrew SeniorLife. It is treated as a taxable item, reported as wages per his Form W-2. Mr. Fishman's Other Reportable Compensation includes the following item with gross-up: -Disability Insurance Premiums Schedule J, Part I, Line 3 Newbridge on the Charles, Inc. relies upon Hebrew SeniorLife as the parent organization to establish the compensation of the organizations' CEO, President and CFO. HSL utilizes the following in establishing such compensation: Compensation committee Written employment contract Independent compensation consultant Compensation survey or study Approval by the board or compensation committee MASS HEALTH & EDUCATION FACILITIES AUTHORITY 042456011 57583RTQ8 2007-12-19 457075000 SEE SCHEDULE O false false false 463238677 17539186 6273654 439425837 2009 false false true true false true true false false 0.00210 0.00000 0.00210 false false true true BANK OF AMERICA 3. false false false false false Description of Classes of Members or Stockholders Form 990, Part VI, Question 6 HEBREW SENIORLIFE, INC. IS THE SOLE CORPORATE MEMBER OF NEWBRIDGE ON THE CHARLES AND PROVIDES MANAGEMENT OVERSIGHT AND FUNDRAISING SERVICES TO NEWBRIDGE AND TO ITS OTHER AFFILIATES. THE HEBREW SENIORLIFE BOARD ELECTS THE MEMBERS OF THE NEWBRIDGE BOARD OF DIRECTORS. Description of Classes of Persons and the Nature of Their Rights Form 990, Part VI, Question 7a The Chair of the Board of Hebrew SeniorLife, with the advice and consent of a majority of the Executive Committee of Hebrew SeniorLife, (including the Chair of the Board) shall appoint the Directors and Officers of any subsidiary corporations and affiliated organizations and exercise all other rights of the Corporation as member of any subsidiary corporations and affiliated organizations. Descr Classes of Persons, Decisions Requiring Appr & Type of Voting Rights Form 990, Part VI, Question 7b DECISIONS INVOLVING MAJOR CHANGES IN ORGANIZATION, DEBT PLACEMENT, SALE OF ASSETS, ETC. ARE ALSO SUBJECT TO APPROVAL BY HEBREW SENIORLIFE'S BOARD. Ultimately, governance of the corporation rests with the Board of Directors of the company's sole corporate member, Hebrew SeniorLife, Inc. Describe the Process used by Management &/or Governing Body to Review 990 Form 990, Part VI, Question 11 PREPARATION OF THE FORM 990 BEGINS INTERNALLY WITH HEBREW SENIORLIFE AND AFFILIATES STAFF AND ERNST & YOUNG PREPARES THE FORM WITH INPUT PROVIDED BY HEBREW SENIORLIFE. ALL FORMS 990 AND 990T OF THE AFFILIATES OF HEBREW SENIORLIFE, INC. (HSL IS THE SOLE CORPORATE MEMBER OF EACH AFFILIATE) WILL BE REVIEWED PRIOR TO FILING BY THE AUDIT COMMITTEE OF HEBREW SENIORLIFE, INC. SUBSEQUENT TO SUCH REVIEW AND PRIOR TO FILING COPIES WILL BE PROVIDED TO THE APPROPRIATE GOVERNING BOARD OF DIRECTORS FOR EACH AFFILIATE. THE GOVERNING BOARDS WILL HAVE 5 DAYS TIME IN WHICH TO REVIEW THE FULL AND ACCURATE RETURNS PRIOR TO THEIR FILING. Description of Policies followed Form 990, Part VI, Question 12-14 The policies as referenced in Part VI, lines 12 to 14 are approved at the parent, Hebrew SeniorLife. Newbridge on the Charles, Inc. follows these policies, but has not specifically approved the policies as enacted by Hebrew SeniorLife. Description of Process to Monitor Transactions for Conflicts of Interest Form 990, Part VI, Question 12c The conflicts of interest policy is rigorously monitored by the conflicts review committee of the Board of Directors. This involves annually mailing a conflicts disclosure form to all members of the Board of Directors, Board committees and senior management. This committee reviews signed disclosure forms and identifies potential conflicts. The committee discusses the potential conflict with the Interested Person and receives any additional information pertaining to the potential conflict. The Interested Person leaves the committee room, the committee deliberates and reaches a conclusion regarding the potential conflict and makes a recommendation to the Board. The recommendation of the committee shall be determined given (i) that a more advantageous transaction or arrangement is not reasonably attainable under circumstances not giving rise to a conflict of interest, (ii) that the transaction or arrangement is in the best interest of the Organization and for its own benefit, and (iii) that the transaction or arrangement is fair and reasonable to the Organization. Based on these recommendations made by the conflicts review committee, the entire Board, excluding the Interested Person, will make the final determination to authorize the transaction giving rise to the potential conflict of interest. If either the conflicts review committee or the Board of Directors has reasonable cause to believe an Interested Person has failed to disclose actual or possible conflicts of interest, the Interested Person shall be notified and allowed an opportunity to explain the alleged failure to disclose. Following such discussion, the committee or board shall deliberate and determine if a failure to disclose has occurred and shall take appropriate corrective action. Offices & Positions for Which Process was Used, & Year Process was Begun Form 990, Part VI, Question 15a and 15b THE COMPENSATION COMMITTEE OF THE Hewbrew Seniorlife BOARD, WITH THE ASSISTANCE OF INDEPENDENT, EXPERT CONSULTANTS, HAS REVIEWED THE CEO'S TOTAL COMPENSATION, THE PRESIDENT'S TOTAL COMPENSATION AND THE COMPENSATION OF ALL OFFICERS AND KEY EMPLOYEES AS WELL AS HIGHLY COMPENSATED (>$150,000) EMPLOYEES OF HSL AND ITS AFFILIATES. THIS PROCESS WAS LAST PERFORMED IN FISCAL YEAR 2011. THE FULL HSL BOARD FURTHER REVIEWED AND APPROVED THE COMPENSATION OF THE OFFICERS, KEY EMPLOYEES AND HIGHLY COMPENSATED EMPLOYEES OF HSL AND ITS AFFILIATES. ALL OF THESE COMMITTEE MEMBERS ARE INDEPENDENT DIRECTORS. DOCUMENTATION AND RECORDS OF COMPENSATION COMMITTEE MEETINGS ARE MAINTAINED WITH RESPECT TO DELIBERATIONS AND COMPENSATION DECISIONS. Avail of Gov Docs, Conflict of Interest Policy, & Fin Stmts to Gen Public Form 990, Part VI, Question 19 GOVERNING DOCUMENTS ARE AVAILABLE AT THE COMM OF MASS WEBSITE. THESE AND CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE ALSO AVAILABLE UPON REQUEST AT THE OFFICES OF HSL AT 1200 CENTRE ST. BOSTON, MA 02131. WE HAVE ALSO RESPONDED TO TELEPHONE AND EMAIL REQUESTS FOR DOCUMENTS. HOURS WORKED FOR RELATED ORGANIZATION FORM 990, PART VII, SECTION A THOMAS ALPERIN DEVOTES AN AVERAGE OF 1 HOUR PER WEEK TO HEBREW SENIORLIFE, .5 HOURS PER WEEK TO HEBREW REHABILIATION CENTER, AND .5 HOURS PER WEEK TO ORCHARD COVE. ALL ARE RELATED ORGANIZATIONS OF THE FILING ENTITY. THOMAS ALPERIN IS THE CO-CHAIR FOR EACH ENTITY. HOWARD COHEN DEVOTES AN AVERAGE OF 1 HOUR PER WEEK TO HEBREW SENIORLIFE, .5 HOURS PER WEEK TO HEBREW REHABILIATION CENTER, AND .5 HOURS PER WEEK TO ORCHARD COVE. ALL ARE RELATED ORGANIZATIONS OF THE FILING ENTITY. HOWARD COHEN IS THE CO-CHAIR FOR EACH ENTITY. JAY L. WEBBER DEVOTES AN AVERAGE OF 1 HOUR PER WEEK TO HEBREW SENIORLIFE, .5 HOURS PER WEEK TO HEBREW REHABILIATION CENTER, AND .5 HOURS PER WEEK TO ORCHARD COVE. ALL ARE RELATED ORGANIZATIONS OF THE FILING ENTITY. JAY L. WEBBER IS THE TREASURER FOR EACH ENTITY. LEN FISHMAN DEVOTES AN AVERAGE OF 20 HOURS PER WEEK TO HEBREW SENIORLIFE, 10 HOURS PER WEEK TO HEBREW REHABILIATION CENTER, 5 HOURS PER WEEK TO ORCHARD COVE, AND 5 HOURS PER WEEK TO HOUSING ENTITIES. ALL ARE RELATED ORGANIZATIONS OF THE FILING ENTITY. LEN FISHMAN IS THE CEO FOR EACH ENTITY. LOU WOOLF DEVOTES AN AVERAGE OF 10 HOURS PER WEEK TO HEBREW SENIORLIFE, 20 HOURS PER WEEK TO HEBREW REHABILIATION CENTER, 5 HOURS PER WEEK TO ORCHARD COVE, AND 5 HOURS PER WEEK TO HOUSING ENTITIES. ALL ARE RELATED ORGANIZATIONS OF THE FILING ENTITY. LOU WOOLF IS THE PRESIDENT FOR EACH ENTITY. JAMES D HART DEVOTES AN AVERAGE OF 10 HOURS PER WEEK TO HEBREW SENIORLIFE, 20 HOURS PER WEEK TO HEBREW REHABILIATION CENTER, 5 HOURS PER WEEK TO ORCHARD COVE, AND 5 HOURS PER WEEK TO HOUSING ENTITIES. ALL ARE RELATED ORGANIZATIONS OF THE FILING ENTITY. JAMES D HART IS THE PRESIDENT FOR HEBREW SENIORLIFE, PRESIDENT AND SECRETARY FOR HEBREW REHABILIATION CENTER, CFO AND SECRETARY FOR ORCHARD COVE. ALESSANDRA DE VACA DEVOTES AN AVERAGE OF 10 HOURS PER WEEK TO HEBREW SENIORLIFE, 20 HOURS PER WEEK TO HEBREW REHABILIATION CENTER, 5 HOURS PER WEEK TO ORCHARD COVE, AND 5 HOURS PER WEEK TO HOUSING ENTITIES. ALL ARE RELATED ORGANIZATIONS OF THE FILING ENTITY. ALESSANDRA DE VACA IS THE VICE PRESIDENT OF ADMINISTRATION FOR EACH ENTITY. MICHELLE REZENDES DEVOTES AN AVERAGE OF 40 HOURS PER WEEK TO HEBREW SENIORLIFE AND 10 HOURS PER WEEK TO HEBREW REHABILIATION CENTER. BOTH ARE RELATED ORGANIZATIONS OF THE FILING ENTITY. MICHELLE REZENDES IS THE Assistant Recording Secretary FOR EACH ENTITY. OTHER CHANGES IN NET ASSETS FORM 990, PART XI, LINE 5 Change in value of interest rate swap - $5,279,381. PURPOSE OF BONDS SCHEDULE K, PART 1F DURING DECEMBER 2007, NEWBRIDGE ISSUED $457,075,000 OF TAX-EXEMPT BONDS TO PAY FOR PROJECT CONSTRUCTION AND OTHER PROJECT-RELATED COSTS. PROCEEDS OF THE TAX-EXEMPT BONDS WERE USED TO REPAY THE $75,000,000 LOAN FROM THE LENDERS, PAY FOR CERTAIN ISSUANCE COSTS, PAY FOR THE PORTION OF THE HSL DEVELOPMENT FEE WHICH WAS DUE, AND ESTABLISH CERTAIN FUNDS, INCLUDING THE PROJECT FUND AND THE DEBT SERVICE FUND. 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