2024-10-11T08:24:52-05:00 2023-12-31 010494526 Baker Newman & Noyes PO Box 507 Portland ME 04112 990 2023-01-01 020366556 Havenwood-Heritage Heights Trust Fund HAVE 6032245363 33 Christian Avenue Concord NH 033016128 Tracy J Judd VP/CFO 6032291168 2024-10-02 1 0 Connor Smart P02285543 2078792100 2024-10-02 2023 2024-10-15 13:58:12Z Michael A Palmieri 33 Christian Avenue Concord NH 033016128 3632061 0 X N/A X 1982 NH Provide financial support to the United Church of Christ Retirement Community Inc. and its residents. 7 6 0 6 0 0 12798 13424 0 0 1465439 808483 0 0 1478237 821907 485488 682525 0 0 0 0 0 0 25000 226912 222166 712400 904691 765837 -82784 26540127 29724202 295919 149068 26244208 29575134 To provide financial support to the United Church of Christ Retirement Community and its residents. 0 0 684086 682525 0 To provide financial support to the United Church of Christ Retirement Community. 684086 1 1 0 0 0 0 0 0 0 1 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 6 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 NH X Tracy J Judd VPCFO 6032291168 33 Christian Avenue Concord NH 033016128 X Michael A Palmieri CEO UCCRC President/CEO, Ex Officio 1.00 39.00 X X 0 337900 44619 Edward R MacKay Trustee 0.50 0.00 X 0 0 0 Mary W McLaughlin Trustee 0.50 0.00 X 0 0 0 Lisa Snow Trustee 0.50 0.00 X 0 0 0 John Udaloy Trustee 0.50 0.00 X 0 0 0 Gary Woods Trustee 0.50 0.00 X 0 0 0 Douglas S Hatfield Chairman 0.50 0.00 X X 0 0 0 Tracy J Judd VP/CFO UCCRC 1.00 39.00 X 0 164099 6178 0 501999 50797 0 0 1 0 0 5323 8101 13424 662091 662091 2956546 2810154 146392 146392 146392 821907 0 0 808483 682525 682525 75000 50000 25000 719 719 20850 20850 123922 123922 Payments to annuitants 1561 1561 State filing fees 75 75 Bank fees 39 39 904691 684086 195605 25000 79125 36038 184323 162828 56510 57606 21319194 23807623 4605700 5347700 295275 312407 26540127 29724202 23466 26519 272453 122549 295919 149068 X 8126761 9337014 18117447 20238120 26244208 29575134 26540127 29724202 X -82784 3278792 134918 X X 0 1 X 1 0 X X 1 United Church of Christ Retirement Community Inc 020280183 10 1 682525 0 1 682525 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Part IV, Section C, Question 1: The management of the supporting organization is performed by the Chief Executive Officer and the Chief Financial Officer of the supported Organization. Form 990, Schedule A, Part IV, Section A, 11a: In its 2023 tax year, Havenwood-Heritage Heights Trust Fund received and accepted contributions from two of its board members. Douglas Hatfield, Chairman of the Board of Trustees, contributed $1,000 to the Trust in 2023; and Michael Palmieri, the Organization's President & CEO, donated $115 to the Trust in 2023. Section 509(f)(2) prohibits Type I and Type III supporting organizations from accepting a gift or contribution from certain persons associated with a supported organization of such supporting organization. Havenwood-Heritage Heights Trust Fund is a Type II supporting organization, and is thus exempt from this Section 509(f)(2) regulation. Therefore, the information concerning contributions received from trustees is being provided primarily for transparency purposes. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 26244208 13424 4098271 684086 96681 29575136 29824314 12798 -3005016 489873 98015 26244208 25742960 13862 4702239 539955 94792 29824314 23125493 4240 3417231 707786 96218 25742960 19004635 27913 4710242 516405 100892 23125493 0.31570 0.04300 0.64130 0 0 0 Corporate bonds 2505507 F Government and agency bonds 2842193 F 5347700 Due to affiliate 122549 122549 X 4111695 3278792 3278792 832903 123922 -134918 -10996 821907 780769 0 780769 123922 123922 904691 Part V, Line 4: The endowment funds are used to provide financial support to the United Church of Christ Retirement Community Inc. (d/b/a Havenwood-Heritage Heights) and its residents. Part X, Line 2: The Internal Revenue Service determined that the Trust Fund is a publicly-supported charity under Internal Revenue Code Section 501(c)(3) and, therefore, not subject to federal income taxes or federal excise taxes imposed upon private foundations. 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. In accordance with accounting principles generally accepted in the United States of America, assets and liabilities are established for uncertain tax positions taken or positions expected to be taken in income tax returns when such positions are judged to not meet the "more-likely-than-not" threshold, based upon the technical merits of the position. Estimated interest and penalties, if applicable, related to uncertain tax positions are included as a component of income tax expense. Management has evaluated the Trust Fund's tax positions taken on its filed tax returns and concluded that the Trust Fund has maintained its tax-exempt status, does not have any significant unrelated business income and has taken no uncertain tax positions that require adjustment to the financial statements. Part XI, Line 4b - Other Adjustments: Change in value (loss) of gift annuity agreements -117,786. Change in value (loss) of beneficial interest in trust -17,132. 1 United Church of Christ Retirement Community Inc 33 Christian Avenue Concord NH 03301 020280183 501(c)(3) 682525 0 Support of residents and the Community 1 0 Part I, Line 2: The Havenwood-Heritage Heights Trust Fund (the Trust Fund) was established on August 16, 1982 for the purpose of meeting the minimum needs of residents of the United Church of Christ Retirement Community, Inc. (the Community) and for general support of the Community. Requests for funds from the Trust Fund are made by the Board of Trustees of the Community (the Community Board) and payment is made at the discretion of the Trustees of the Trust Fund. The Trustees of the Trust Fund elect their own members and may include members of the Community Board or others designated by the Community. A majority of the Board must be independent of the Community. 0 0 0 0 0 0 0 0 0 Michael A Palmieri CEO UCCRC President/CEO, Ex Officio 0 271875 0 30000 0 36025 0 11216 0 33403 0 382519 0 0 Tracy J Judd VP/CFO UCCRC 0 154647 0 0 0 9452 0 6178 0 0 0 170277 0 0 Part I, Line 3 Havenwood-Heritage Heights Trust Fund has no employees and relies upon the employees of the related organization, the United Church of Christ Retirement Community, Inc. (UCCRC) to perform the day-to-day operations on behalf of the Trust Fund. The URCCRC utilizes various tools, such as a written employment contract and compensation surveys, to establish the compensation of the President/CEO. The Executive Committee of the URCCRC Inc. reviews and approves the compensation for the President/CEO. Form 990, Part VI, Section B, line 11b An electronic copy of the Form 990 and suporting schedules is sent to the Trust Fund board members prior to filing with the IRS. Form 990, Part VI, Section B, line 12c The Trust Fund Committee meets on a quarterly basis. Any potential conflicts of interest are disclosed at these meetings, or committee members advise the Chairman of the Trustees on an individual basis. Form 990, Part VI, Section C, line 19 Copies of the governing documents, conflict of interest policy, and financial statements are kept by the Chairman of the HHH Trust Fund Committee, and by the President/CEO and Vice President/CFO of UCCRC, Inc. Requests for copies can be sent to these individuals. The audited financial statements are also posted on the following website: www.hhhinfo.com. Form 990, Part VII, Section A, Column E The 2023 compensation reported for Michael Palmieri and Tracy Judd was paid by the United Church of Christ Retirement Community, Inc. (d/b/a Havenwood-Heritage Heights) for their services as full-time executives. Mr. Palmieri and Ms. Judd each worked each worked an average of 40 hours per week, of which an average of 1 hour per week was was dedicated to Havenwood-Heritage Heights Trust Fund. Form 990, Part XI, line 9: Change in value of beneficial interest in trust 17,132. Change in value of gift annuity agreements 117,786. Form 990, Part XII, Line 2c: The Trust Fund Committee is responsible for the oversight of the audit and selection of an independent accountant. The procedure has not changed from the prior year, and the same accountants performed the audits for 2022 and 2023. United Church of Christ Retirement Community Inc dba Havenwood-Heritage Ht 33 Christian Avenue Concord NH 03301 020280183 Retirement community NH 501(c)(3) Line 10 N/A 0 Charitable Remainder Trust (1) c/o TD Wealth 12000 Horizon Way Mount Laurel NJ 08054 Beneficiary distributions NJ N/A T 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0