2011-05-11T14:15:20-05:00 2010-06-30 CBIZ Tofias 350 Massachusetts Avenue Cambridge MA 02139 990 2009-07-01 223042122 Lasell Village Inc LASE 6176637000 120 Seminary Ave Auburndale MA 02466 Michael B Alexander 6176637000 2011-04-29 1 JOSEPH M GISO MST 6177610600 2011-04-26 2009 2016-02-24 21:20:13Z Michael B Alexander 120 Seminary Ave Auburndale MA 02466 17085954 0 X www.LASELLVILLAGE.COM X 1990 MA LASELL VILLAGE, SPONSORED BY LASELL COLLEGE, IS HOME TO SOME 225 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. 9 7 218 15 0 0 0 15271552 15882862 160282 354786 167478 193416 15599312 16431064 0 0 5208526 5311453 0 0 10668186 10644330 15876712 15955783 -277400 475281 70553691 70119752 94213939 92585913 -23660248 -22466161 LASELL VILLAGE, SPONSORED BY LASELL COLLEGE, IS HOME TO SOME 225 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 13878074 15882862 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 2009: 186 residents enrolled in 20 coursesSpring 2010: 176 residents enrolled in 19 coursesSummer 2010: 167 residents enrolled in 17 courses 13878074 1 0 0 0 0 1 0 0 0 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 1 29 0 1 218 1 0 0 0 0 0 0 0 0 0 9 7 0 1 1 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 X 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 mbbch 0.50 X 0 0 0 Kenneth Lloyd Minaker MD 0.50 X 0 0 0 Ruth Nemzoff 0.50 X 0 0 0 Alla O'Brien 0.50 X 0 0 0 John Pilitsis 0.50 X 0 0 0 Michael B Alexander 5.00 X 0 268498 35337 Dr Michael J Hoyle VP 5.00 X 0 169290 10093 Dr Paula Panchuck vp 40.00 X 0 156948 21103 Elizabeth Ihenacho 40.00 X 124467 0 24893 Proscovia Bukenya 40.00 X 110768 0 22154 Gina St Fleur 40.00 X 108723 0 21745 Edith Ebozue 40.00 X 105374 0 21075 449332 594736 156400 4 0 1 0 LASELL COLLEGE 1844 COMMONWEALTH AVE NEWTON MA 02466 MANAGEMENT CONTRACT 1676322 GENESIS REHABILITATION SERVICES PO BOX 7247-6524 PHILADELPHIA PA 19170 Rehab for skilled nursing unit 760326 GENESIS ElderCARE 101 EAST STATE STREET 3RD FLOOR KENNETT SQUARE PA 19348 skilled NURSING Mgmt. CONTRACT 334519 3 RESIDENTIAL FEES 623000 8648532 8648532 SKILLED NURSING 623000 4428064 4428064 EARNED ENTRANCE FEE 623000 2330359 2330359 RESIDENTIAL FEES OTHER 623990 475907 475907 15882862 382676 382676 627000 654890 -27890 -27890 -27890 Other Income 900099 193416 193416 193416 16431064 15882862 0 548202 188856 188856 4263061 3907625 355436 122906 100143 22763 427252 393111 34141 309378 282187 27191 720029 720029 7667 7667 107809 107809 34149 34149 1481496 1358295 123201 37549 37549 83242 25010 58232 87468 81468 6000 3017253 2906607 110646 604 604 4909 2170 2739 838623 782435 56188 2531970 2362328 169642 204509 190807 13702 Facilities Maintenance 651712 651712 Real Estate Taxes 570661 570661 land Lease 205840 205840 Resident Activities 41456 41456 telephone 17384 16219 1165 15955783 13878074 2077709 0 2529564 2489481 9741667 4985837 1523448 2112803 1239500 358000 1557403 1542838 63116836 21084456 43815255 42032380 1684013 7250961 7440872 8467327 1021969 880125 70553691 70119752 772881 1032053 790423 827603 19755000 19380000 72895635 71346257 94213939 92585913 X -23660248 -22466161 -23660248 -22466161 70553691 70119752 X 0 1 1 X 0 X 12381740 14161665 14720833 15271552 15882862 72418652 12381740 14161665 14720833 15271552 15882862 72418652 193546 214330 190186 240716 253104 1091882 0 193546 214330 190186 240716 253104 1091882 71326770 801520 902291 884711 463823 382676 3435021 801520 902291 884711 463823 382676 3435021 101724 106968 124064 167478 193416 693650 13284984 15170924 15729608 15902853 16458954 76547323 0.93180 0.92170 0.04490 0.05120 X X 1 2.20 0 0 0 1 1 0.00 10000 1 59607154 18528673 41078481 3509682 2555783 953899 42032380 multi-strategy equity funds 8467327 F 8467327 NET BOND ISSUANCE COSTS 339677 CONTRACTS 434448 CASH LIMITED AS TO USE, RESIDENTIAL WAIT LIST DEPOSITS 106000 880125 REFUNDABLE DEPOSITS & INTEREST 106000 DUE TO AFFILIATE 95170 NONREFUNDABLE ENTRANCE FEES 4751772 REFUNDABLE ENTRANCE FEES 63442447 FAIR VALUE OF INTEREST SWAP 2950868 71346257 16431064 15955783 475281 983159 -264353 718806 1194087 17414223 983159 983159 16431064 0 16431064 16220136 264353 264353 15955783 0 15955783 Part II, Line 5: Explanation of Easements Enforcement Policies: Members of the city's conservation committee visit the location to ensure that we are in compliance. Part II, Line 9: Description of How Organization Reports Conservation Easements: The expense for the conservation easement is included in our landscaping expenses. Part X: Description of Uncertain Tax Positions Under FIN 48: 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 a 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: -264353. Part XIII, Line 2d - Other Adjustments: change in fair value of interest rate swap: 264353. X X 0 0 0 0 0 0 0 0 0 Michael B Alexander 0 245429 0 12250 0 10819 0 18957 0 16380 0 303835 0 0 Dr Michael J Hoyle VP 0 163085 0 5000 0 1205 0 3156 0 6937 0 179383 0 0 Dr Paula Panchuck vp 0 150572 0 5000 0 1376 0 11685 0 9418 0 178051 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 20285000 19870494 414507 2007 1 1 1 1 0 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 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 A, line 4 The bylaws were changed to broaden board representation. Changes include the addition of the Chairman of the Lasell Village Residents Advisory Council as an ex-officio member of the Lasell Village Board of Trustees and the extension of the number of consecutive year terms in which a Village Trustee may serve from two to three terms. Also updated is a provision that a Trustee who serves as President of the Corporation may receive an extension beyond the three consecutive term limit of service. Form 990, Part VI, Section B, line 11 The form was reviewed by the Board of Trustees at a meeting held on April 22, 2011. 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 and annual written evaluation of the president of the college whose duties also include 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 conduct an annual written evaluation of key employees based on performance taking into account compensation of peers at similar sized 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. FORM 990, PAGE 11, PART XI, Line 2c: DOES THE ORGANIZATION HAVE A COMMITTEE THAT ASSUMES REPONSIBILITY? THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THERE HAVE BEEN NO CHANGES FROM THE PRIOR YEAR. Schedule K, Part II, Line 5: A portion of the issuance costs are considered credit enhancement fees. The total fees used for credit enhancement are $45,487. Lasell College Inc 1844 Commonwealth Avenue Newton MA 02466 042103585 Education MA 501(C)(3) 6 N/A Lasell Inc 1844 Commonwealth Avenue newton MA 02466 861070319 administrative support MA 501(C)(3) 11B N/A 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 Lasell College J 207509 lasell College L 1739506 Lasell College N 19203