2024-02-08T10:01:01-06:00 2022-12-31 111986323 MARCUM LLP 555 LONG WHARF DRIVE NEW HAVEN CT 06511 990 2022-01-01 042696489 SALEM COMMUNITY CORPORATION SALE 5088522670 65 BRIARWOOD CIRCLE WORCESTER MA 01606 ANDREW FREILICH EXECUTIVE DIRECTOR 5088522670 2024-02-05 1 ANDREW FREILICH 999009999 0 MARY ANTONETTI P00431862 2037819600 2024-02-05 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z ANDREW FREILICH 65 BRIARWOOD CIRCLE WORCESTER MA 01606 23453770 0 X WWW.BRIARWOODRETIREMENT.COM X 1974 MA TO PROVIDE HOUSING AND SUPPORT TO ITS RESIDENTS AND OTHER SENIORS. 15 15 318 100 0 0 613568 2105860 18440427 19976067 721619 296602 287253 566424 20062867 22944953 0 0 0 0 8396969 8538874 0 0 0 12877539 15662323 21274508 24201197 -1211641 -1256244 69833808 72117974 79426050 82698739 -9592242 -10580765 THE ORGANIZATION'S MISSION IS TO ENHANCE THE WELL-BEING, INDEPENDENCE AND PERSONAL FULFILLMENT OF ITS RESIDENTS AND OTHER SENIORS BY PROVIDING EXCELLENT HOUSING, HEALTH, WELLNESS AND SUPPORTIVE SERVICES CONSISTENT WITH THE CARING SPIRIT OF THE FOUNDING CHURCHES. 0 0 19956126 19976067 THE ORGANIZATION'S PROGRAM SERVICES INCLUDE THE OPERATION OF AN 82-BED NURSING HOME, KNOLLWOOD NURSING CENTER AND A 228-UNIT CONTINUING CARE RETIREMENT AND ASSISTED LIVING FACILITY, BRIARWOOD COMMUNITY, IN WORCESTER AND WEST BOYLSTON, MASSACHUSETTS. 19956126 1 1 0 1 0 0 1 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 15 0 1 318 1 0 0 0 0 0 0 0 0 0 0 0 0 X 15 15 0 1 0 0 1 0 1 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X HOLLY STEVENS 5088522670 65 BRIARWOOD CIRCLE WORCESTER MA 01606 JOSEPH WETTON DIRECTOR 1.00 X 0 0 0 PETER VILES DIRECTOR 1.00 X 0 0 0 ANITA THOMAS DIRECTOR 1.00 X 0 0 0 LOUIS SWAN CLERK 1.00 X X 0 0 0 EMILY STARR DIRECTOR 1.00 X 0 0 0 DR SARAH MCGEE DIRECTOR 1.00 X 0 0 0 ROBERT ARMSTRONG DIRECTOR (RESIGNED 12/2022) 1.00 X 0 0 0 ROBERT LONGDEN VICE PRESIDENT 3.00 X X 0 0 0 GAIL MORGAN PRESIDENT 3.00 X X 0 0 0 SUSAN DURHAM DIRECTOR 1.00 X 0 0 0 GARTH JOHNSON DIRECTOR 1.00 X 0 0 0 NATALYA LESHCHINER TREASUER (TITLE TILL 5/2022) 1.00 X X 0 0 0 KARIN CIANCE DIRECTOR (JOINED 5/2022) 1.00 X 0 0 0 PAUL FAVULLI DIRECTOR (JOINED 5/2022) 1.00 X 0 0 0 KAREN JOHNSON TREASUER (JOINED 5/2022) 1.00 X X 0 0 0 RICHARD WHITTEN DIRECTOR (JOINED 5/2022) 1.00 X 0 0 0 HOLLY STEVENS CONTROLLER 40.00 X 100045 0 18259 PATRICIA FOLEY-MARTEL NURSING HOME ADMINISTRATOR 40.00 X 125949 0 10233 JOANNE MACAYEAL RESIDENT NURSE 40.00 X 152753 0 7676 JANE NAKIYINGI RESIDENT NURSE 40.00 X 120526 0 10135 DANIELLE RUTH DIRECTOR OF SALES 40.00 X 108888 0 2178 JENNIFER FARRELL RESIDENT NURSE 40.00 X 103602 0 3108 711763 0 51589 6 0 1 0 ROGERSON COMMUNITIES 1 FLORENCE ST ROSLINDALE MA 02131 MANAGEMENT COMPANY 815389 EVERGREEN SOLUTIONS 2528 BARRINGTON CIRCLE UNIT 201 TALLAHASSEE FL 32308 ENVIRONMENTAL CARE 686042 NATIONAL FACILITY SERVICES 239 LITTLETON ROAD WESTFORD MA 01886 MAINTENANCE 655603 CAPTIAL CREDIT 7301 RR 620 NORTH SUITE 155 AUSTIN TX 78726 AGENCY - NURSING STAFFING 549488 INTELY CARE 1250 HANCOCK ST 501N QUINCY MA 02169 AGENCY - NURSING STAFFING 372716 10 61840 699687 1344333 2105860 PROGRAM SERVICE REVENUE 623000 19760674 19760674 ANCILLARY SERVICES 623000 215393 215393 19976067 315318 315318 191894 242532 -50638 -50638 -50638 208687 227403 -18716 -18716 -18716 31855 61840 38882 -7027 -7027 2022 0 2022 2022 MISCELLANEOUS REVENUE 900099 583001 583001 EMPLOYEE/GUEST MEALS 900099 39066 39066 622067 22944953 19976067 0 863026 7283350 6706558 576792 682894 615854 67040 572630 516415 56215 827264 537549 289715 27241 17701 9540 69658 45263 24395 16581 10774 5807 1882930 1223511 659419 152242 98926 53316 701995 456150 245845 142172 92382 49790 1364718 886782 477936 14123 9177 4946 28663 18625 10038 1890717 1890717 3013813 3013813 307056 199522 107534 REPAIR & MAINTENANCE 1770702 1150587 620115 DIETARY 1104352 717598 386754 SUPPLIES 742546 488142 254404 HOUSEKEEPING 717934 466507 251427 887616 793573 94043 24201197 19956126 4245071 0 8598314 5208841 548216 631057 978857 2311852 378420 386650 86241632 37636653 48905264 48604979 8888883 9602448 603072 0 932782 5372147 69833808 72117974 1351457 2699016 6933613 7408632 37519770 40564796 948861 0 32672349 32026295 79426050 82698739 X -12263960 -13112162 2671718 2531397 -9592242 -10580765 69833808 72117974 X -1256244 -1580431 1848151 X X 0 1 X 1 0 X 184740 333822 3043052 613568 2105860 6281042 15972203 16954155 16377176 18440427 19976067 87720028 16156943 17287977 19420228 19053995 22081927 94001070 55000 55000 0 55000 55000 93946070 247868 203852 274670 357532 507212 1591134 247868 203852 274670 357532 507212 1591134 420676 398211 622067 1440954 16404811 17491829 20115574 19809738 23211206 97033158 0.96820 0.97480 0.01640 0.01530 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 1385 1385 0 PART II-B, LINE 1: SALEM COMMUNITY CORPORATION PAYS DUES TO MASSACHUSETTS SENIOR ASSOCIATION AND THE AMERICAN HEALTH CARE ASSOCIATION. A PORTION OF THESE DUES IS ALLOCATED TO LOBBYING. X 1 0 0 0 2671719 1058780 -410334 788767 2531398 2674595 442061 320736 765673 2671719 2208167 277305 280753 91630 2674595 2090485 273342 392030 33273 514417 2208167 2033957 120990 -17473 29890 17099 2090485 0.00000 0.55591 0.44409 0 0 2694607 2694607 62223425 33303856 28919569 15101930 851635 14250295 4928848 2969501 1959347 1292822 511661 781161 48604979 SOFTWARE 19676 ASSETS LIMITED TO USE 5352471 5372147 REFUNDABLE DEPOSITS 1969949 RESIDENT REFUNDABLE ENTRANCE FEES 29960314 OTHER LIABILITIES 96032 32026295 X 22970139 -1580431 2224698 644267 22325872 619082 619082 22944954 23863528 281413 281413 23582115 619082 619082 24201197 PART II, LINE 9: INCLUDED IN LAND IN FIXED ASSETS PART IV, LINE 1B: SALEM COMMUNITY CORPORATION HAS CUSTODY OF ACCOUNTS FOR PATIENTS. THE AMOUNTS ARE EXPENDED BY PATIENTS AT THEIR REQUEST PART V, LINE 4: THE ORGANIZATION HAS RECEIVED DONOR-RESTRICTED CONTRIBUTIONS, WHICH HAVE BEEN ACCOUNTED FOR AS NET ASSETS WITH DONOR RESTRICTIONS THAT ARE PERPETUAL IN NATURE. THE PRINCIPAL AMOUNT OF THE CONTRIBUTION IS REQUIRED TO BE MAINTAINED, WITH THE INCOME BEING AVAILABLE FOR RESTRICTED PURPOSES. THE ORGANIZATION MAINTAINS THESE DONOR-RESTRICTED CONTRIBUTIONS IN TWO SEPARATE ENDOWMENT FUNDS, THE RESIDENTS ASSISTANCE FUND AND THE WOODBURY FUND. NET ASSETS WITH PURPOSE RESTRICTIONS REPRESENT GAINS AND LOSSES ON THE ABOVE ENDOWMENT FUNDS. IN ADDITION, NET ASSETS WITH PURPOSE RESTRICTIONS INCLUDE PURPOSE RESTRICTED GIFTS TO: ESTABLISH A FUND TO UNDERWRITE ADVANCE FEES; PAY FOR ADMINISTRATION TRAINING COSTS; PURCHASE A GENERATOR; DEVELOP MEMORY SUPPORT CARE; FUND LIBRARY USES. PART X, LINE 2: SALEM COMMUNITY CORPORATION IS A NONPROFIT CORPORATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE INTERNAL REVENUE CODE. MOUNTAIN STREET WAS ORGANIZED AS A LIMITED LIABILITY COMPANY. AS SUCH, MOUNTAIN STREET IS CONSIDERED A DISREGARDED ENTITY FOR TAX PURPOSES. THE ORGANIZATION ACCOUNTS FOR UNCERTAINTY IN INCOME TAX POSITIONS BY APPLYING A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2022 AND 2021, THERE ARE NO TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS PENDING OR IN PROGRESS. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 242,532. INTEREST RATE SWAP 1,848,151. FUNDRAISING EXPENSE 38,881. NET ASSETS RELEASED FROM RESTRICTIONS 95,134. PART XI, LINE 4B - OTHER ADJUSTMENTS: LOSS ON EXTINGUISHMENT OF DEBT 619,082. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 242,532. FUNDRAISING EXPENSE 38,881. PART XII, LINE 4B - OTHER ADJUSTMENTS: LOSS ON EXTINGUISHMENT OF DEBT 619,082. GOLF TOURNAMENT 93695 61840 31855 1185 1089 16692 16854 649 2413 93695 61840 31855 1185 1089 16692 16854 649 2413 38882 -7027 0 0 0 0 0 0 0 0 0 JOANNE MACAYEAL RESIDENT NURSE 131726 0 21027 0 0 0 0 0 7676 0 160429 0 0 0 A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 57584Y2X6 2022-05-09 40345948 SERIES 2022 BONDS 0 0 0 A 40345948 2974881 805906 36565161 1 1 0 1 A 0 0 1 1 0 0 0 1 A 0 0 1 0 1 1 MANUFACTURERS AND TRADERS TRUST 580.000000000000 0 0 0 0 1 A 1 SCHEDULE K, PART II OF THE OTHER SPENT PROCEEDS ON LINE 11, $413,409 WAS USED FOR ISSUER'S ADMIN FEE; QUALIFIED HEDGE TERMINATION PAYMENTS AND INTEREST ON BONDS. 36,151,752 WAS USED TO REFUND BONDS ISSUED 9/15/2004 AND 12/22/2020. FORM 990, PART VI, SECTION A, LINE 3 SALEM COMMUNITY CORPORATION HIRED ROGERSON COMMUNITIES TO RUN THE DAY TO DAY PROGRAM OPERATIONS AND BUSINESS AFFAIRS OF THE COMMUNITY THROUGH THE EXECUTIVE DIRECTOR POSITION. ROGERSON PAYROLL REIMBURSEMENT FOR ANDREW FREILICH, EXECUTIVE DIRECTOR THROUGH MANAGEMENT COMPANY, WAS $111,333.50 FOR 5.9.2022 - 12.31.2022. ROGERSON PAYROLL REIMBURSEMENT FOR MIKE QUIRK, EXECUTIVE DIRECTOR THROUGH MANAGEMENT COMPANY, WAS $76,687.51 FOR 1.1.2022 - 4.16.2022. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERSHIP SHALL CONSIST OF NOT LESS THAN TEN (10) REPRESENTATIVES OF THE FIRST BAPTIST CHURCH OF WORCESTER, MASSACHUSETTS, AND NOT LESS THAN TEN (10) REPRESENTATIVES OF THE SALEM COVENANT CHURCH OF WORCESTER, MASSACHUSETTS. IN ADDITION TO THE REPRESENTATIVES OF THE TWO CHURCHES, THE MEMBERS ANNUALLY AT THEIR ANNUAL MEETING MAY FIX AN ADDITIONAL NUMBER OF MEMBERS WHO ARE NOT REPRESENTATIVE OF EITHER CHURCH AND MAY ELECT THE ADDITIONAL NUMBER OF MEMBERS SO FIXED. FORM 990, PART VI, SECTION A, LINE 7B THE BOARD OF TRUSTEES SHALL CONSISTS OF A MINIMUM OF TWO (2) REPRESENTATIVE OF THE FIRST BAPTIST CHURCH OF WORCESTER MA AND WHO ARE NOT RESIDENTS OF BRIARWOOD AND A MINIMUM OF TWO (2) REPRESENTATIVES OF THE SALEM COVENANT CHURCH OF WORCESTER, MA AND WHO ARE NOT RESIDENT OF BRIARWOOD, WHENEVER FEASIBLE IN THE JUDGEMENT OF THE GOVERNANCE COMMITTEE. THE BOARD OF TRUSTEES SHALL ALSO INCLUDE THREE (3) RESIDENTS OF BRIARWOOD AND NOT LESS THAN SEVEN (7) MEMBERS FORM THE GREATER WORCESTER COMMUNITY. FORM 990, PART VI, SECTION A, LINE 7B A TRUSTEE MAY BE SUSPENDED OR REMOVED (A) WITH OR WITHOUT CAUSE BY VOTE OF A MAJORITY OF THE MEMBERS THAN IN OFFICE OR (B) WITH CAUSE BY VOTE OF A MAJORITY OF THE TRUSTEES THEN IN OFFICE. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF MEMBERS ON THE FINANCE COMMITTEE ARE GIVEN DRAFTS FOR REVIEW UPON THEIR REVIEW, IF ANY QUESTIONS ARISE, THEY DISCUSS WITH THE CFO/CONTROLLER. IF FURTHER CLARIFICATIONS IS NEEDED, THE ORGANIZATIONS OUTSIDE ACCOUNTANTS ARE CONSULTED. MANAGEMENT WILL REVIEW A DRAFT OF THE FORM 990 UPON PREPARATION AND GIVE APPROVAL BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE EXECUTIVE DIRECTOR SERVES AS THE COMPLIANCE OFFICER. ALL SERVICES INVOLVING CONTRACTS WITH THE CORPORATION WILL BE REVIEWED AND APPROVED BY THE EXECUTIVE DIRECTOR. ALL MEMBERS OF THE CORPORATION AND MANAGERS INVOLVED IN CORPORATE PURCHASES WILL COMPLETE AN ANNUAL DISCLOSURE AND CONFLICT OF INTEREST DOCUMENT TO ASSURE ALL PROFESSIONAL, BUSINESS AND PERSONAL RELATIONSHIPS THAT MAY AFFECT PURCHASING OR SERVICE TO RESIDENTS ARE IDENTIFIED. FORM 990, PART VI, SECTION B, LINE 15 CURRENTLY, THE EXECUTIVE DIRECTOR IS OUTSOURCED FROM THE MANAGEMENT COMPANY, ROGERSON COMMUNITIES, WHO DETERMINES SALARY BASED ON SERVICES PROVIDED. TYPICALLY, THE EXECUTIVE DIRECTOR IS INTERVIEWED AND SELECTED BY THE BOARD OF DIRECTORS AND THE FINANCE COMMITTEE. PRIOR TO MAKING THE COMPENSATION OFFER, HUMAN RESOURCES CONDUCTS A MARKET REVIEW OF CURRENT SALARY RANGES FOR CCRC/NURSING CENTERS IN THE GREATER WORCESTER AREA. UPON COMPLETION OF THE SURVEY, THE BOARD DETERMINES A COMPENSATION PACKAGE AND MAKES THE OFFER. ANNUALLY THE BOARD CONDUCTS AN EVALUATION AND REVIEW OF THE EXECUTIVE DIRECTOR AND DETERMINES A PERCENTAGE INCREASE BASED ON THE REVIEW. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST FROM THE ORGANIZATION'S BUSINESS OFFICE. FORM 990, PART XI, LINE 9: INTEREST RATE SWAP 1,848,151. FORM 990, PART XII, LINE 2C: NO CHANGE FROM PRIOR YEAR. MOUNTAIN STREET PROPERTIES LLC 65 BRIARWOOD CIRCLE WORCESTER MA 01606 841803425 REAL ESTATE PROPERTIES MA 2866 1426295 SALEM COMMUNITY CORPORATION