2022-09-26T14:33:37-05:00 2021-12-31 420714325 RSM US LLP 80 CITY SQUARE BOSTON MA 021293742 990 2021-01-01 043195775 EDGEWOOD RETIREMENT COMMUNITY INC EDGE 9787253300 575 OSGOOD STREET NORTH ANDOVER MA 01845 MARLENE ROTERING PRESIDENT/CEO 9787253300 2022-09-23 1 MARLENE ROTERING 999009999 LYNNE JOHNSON P00757336 6179129000 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z MARLENE ROTERING 575 OSGOOD STREET NORTH ANDOVER MA 01845 32833704 0 X WWW.EDGEWOODRC.COM X 1993 MA CONTINUING CARE RETIREMENT COMMUNITY. 18 17 384 21 0 0 2969076 362024 24435212 26443146 2036992 1306698 0 0 29441280 28111868 0 0 0 0 13012499 12945798 0 0 0 14746879 15045997 27759378 27991795 1681902 120073 134608129 138118772 164196596 165788278 -29588467 -27669506 X EDGEWOOD RETIREMENT COMMUNITY OFFERS INDEPENDENT LIVING, HEALTHCARE AND SUPPORTIVE SERVICES TO EMPOWER MEMBERS TO BE ARCHITECTS OF THEIR OWN WELL-BEING. EDGEWOOD WILL ACCOMPLISH THIS BY A RELENTLESS PURSUIT OF A CARING CULTURE WITH PASSIONATE ATTENTION TO INDIVIDUAL NEEDS AND VALUES. 0 0 25360232 26443146 THE COMMUNITY CONSISTS OF 217 RESIDENTIAL UNITS, 24 COTTAGES, COMMON SPACE, 59 NURSING CARE BEDS AND 40 ASSISTED LIVING BEDS. THE COMMUNITY OPERATES UNDER THE "LIFE CARE" CONCEPT IN WHICH RESIDENTS ENTER INTO A RESIDENCY AGREEMENT WHICH REQUIRES PAYMENT OF A ONE-TIME ENTRANCE FEE AND MONTHLY SERVICE FEES. THESE PAYMENTS ENTITLE RESIDENTS TO THE USE AND PRIVILEGES OF THE COMMUNITY FOR LIFE. 25360232 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 1 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 41 0 1 384 1 0 0 0 0 0 0 0 0 0 0 0 0 X 18 17 0 0 0 0 1 0 1 1 1 0 0 0 1 1 1 1 1 1 0 0 MA X BRYAN DEVEAU 9787253300 575 OSGOOD STREET NORTH ANDOVER MA 01845 MARLENE ROTERING PRESIDENT/CEO 11.00 34.00 X X 487205 0 51924 JANE SULLIVAN CFO 14.00 31.00 X 242011 0 28275 ROBERT COPPOLA PROJECT MANAGER 14.00 31.00 X 184524 0 26075 MELISSA KAMPERSAL EXECUTIVE DIRECTOR 40.00 0.00 X 181696 0 46151 ROZA KHAN HOUSE MANAGER 60.00 0.00 X 168517 0 13536 DAVID BOTTE ADMINISTRATOR 40.00 0.00 X 159120 0 15345 KATHLEEN D'AMICO SALES DIRECTOR 40.00 0.00 X 146112 0 41880 BETTE BARBADORO TRUSTEE 5.00 0.00 X 0 0 0 MICHAEL CONSOLI TRUSTEE 5.00 0.00 X 0 0 0 PAUL HEDSTROM TRUSTEE 5.00 0.00 X 0 0 0 MARLENE HOYT TRUSTEE 5.00 0.00 X 0 0 0 HOOKS K JOHNSTON JR EMERITUS TRUSTEE 5.00 0.00 X 0 0 0 CHARLES R KENDRICK JR EMERITUS TRUSTEE 5.00 0.00 X 0 0 0 HUGO OVERDUPUT TRUSTEE 5.00 1.00 X 0 0 0 DONALD P PICCIRILLO TRUSTEE 5.00 2.00 X 0 0 0 SAYEEDA RAHMAN MD TRUSTEE 5.00 0.00 X 0 0 0 RICHARD SUMBERG TRUSTEE 5.00 0.00 X 0 0 0 HENRY WHITE TRUSTEE 5.00 0.00 X 0 0 0 ROBERTA WILSON TRUSTEE 5.00 0.00 X 0 0 0 JOSHUA YOUNG PRESIDENT OF RESIDENT ASSOCIATION 5.00 0.00 X 0 0 0 TIMOTHY VAILL CHAIR 5.00 2.00 X X 0 0 0 THOMAS E SMITH VICE CHAIR 5.00 0.00 X X 0 0 0 ELLIOT HACKER TREASURER 5.00 0.00 X X 0 0 0 CAMILLE MIRAGLIOTTA DALY SECRETARY 5.00 2.00 X X 0 0 0 1569185 0 223186 18 0 1 0 PIMINTEL CONSTRUCTION 231 ANDOVER STREET WILMINGTON MA 01887 CONSTRUCTION 1124260 ILLUMIA LLC PO BOX 6304 ASHLAND VA 23005 MARKETING SERVICES 1012664 JEREMY HILTZ EXCAVATING PO BOX 1142 ASHLAND NH 03217 CONSTRUCTION/ SITEWORK SERVICES 784161 DYNAMIC INC 97 CENTRAL STREET STE 206 LOWELL MA 01852 CONTRACT KITCHEN SERVICES 435127 FUNCTIONAL PATHWAYS 10133 SHERRILL BLVD KNOXVILLE TN 37932 CONTRACT THERAPY/REHAB STAFF 405295 12 45860 316164 362024 IND. LIVING UNIT RESIDENT SERVICE 623000 16302553 16302553 HEALTH CTR RESIDENT SERVICES FEES 623000 5088633 5088633 ENHANCED LIVING SERVICES 623000 3405385 3405385 ENTRANCE FEES 623000 1646575 1646575 26443146 645925 645925 5382609 4721836 660773 660773 660773 28111868 26443146 0 1306698 729215 729215 9363035 9079719 283316 142078 113092 28986 1918745 1671938 246807 792725 708331 84394 902214 45414 856800 85572 85572 5205 5205 117177 117177 527432 527432 918021 918021 412944 305063 107881 27997 24542 3455 2999847 2972913 26934 1370539 1358652 11887 4579805 4539609 40196 427142 423404 3738 FOOD & BEVERAGE 1388621 1388621 MEDICAL EXPENSE 1067163 1067163 BAD DEBT 95539 95539 RESIDENT ACTIVITIES 78500 78500 42279 42279 27991795 25360232 2631563 0 10053980 2198276 1448356 1317815 225730 200718 561761 580665 144341216 60347797 86198010 83993419 29361118 36454266 6759174 13373613 134608129 138118772 1710756 1579290 107280162 110449279 52477778 50630879 2727900 3128830 164196596 165788278 X -29680196 -27755669 91729 86163 -29588467 -27669506 134608129 138118772 120073 1798888 0 X X 0 1 X 1 1 0 X 218386 228418 245307 2969076 362024 4023211 23439136 23754435 24995746 24435212 26443146 123067675 23657522 23982853 25241053 27404288 26805170 127090886 0 0 0 127090886 447418 541460 631067 497586 645925 2763456 447418 541460 631067 497586 645925 2763456 24104940 24524313 25872120 27901874 27451095 129854342 0.97870 0.98060 0.02130 0.01940 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2650 2650 2650 2650 2650 2650 2650 2650 2650 2650 1.00000 0 0 5334577 5334577 128182626 52058814 76123812 7331275 6217745 1113530 3492738 2071238 1421500 83993419 INTERCOMPANY RECEIVABLE 13373613 13373613 REFUNDABLE DEPOSITS 3128830 3128830 X 29910756 1798888 1798888 28111868 0 28111868 27991795 0 27991795 0 27991795 PART V, LINE 4: THE INTENDED USE OF THE ORGANIZATION'S ENDOWMENT FUNDS IS TO SUPPORT ITS PROGRAMS AND ITS EXEMPT PURPOSE. PART X, LINE 2: THE COMMUNITY FOLLOWS ASC 740, INCOME TAXES, WHICH CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES BY PRESCRIBING THE RECOGNITION THRESHOLD A TAX POSITION IS REQUIRED TO MEET BEFORE BEING RECOGNIZED IN THE FINANCIAL STATEMENTS. THE COMMUNITY RECOGNIZES A TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY THE TAXING AUTHORITIES. AS OF DECEMBER 31, 2021 AND 2020, MANAGEMENT HAS EVALUATED THE COMMUNITY'S TAX POSITIONS AND CONCLUDED THAT THE COMMUNITY HAS NO MATERIAL UNCERTAINTIES IN INCOME TAXES THAT REQUIRE DISCLOSURE IN THE FINANCIAL STATEMENTS. WITH FEW EXCEPTIONS, THE COMMUNITY IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR THREE YEARS AFTER THE DATE FILED. X X 0 0 0 0 0 0 0 1 0 MARLENE ROTERING PRESIDENT/CEO 366950 0 72240 0 48015 0 11314 0 40610 0 539129 0 0 0 JANE SULLIVAN CFO 183523 0 36133 0 22355 0 7440 0 20835 0 270286 0 0 0 ROBERT COPPOLA PROJECT MANAGER 147290 0 29000 0 8234 0 5971 0 20104 0 210599 0 0 0 MELISSA KAMPERSAL EXECUTIVE DIRECTOR 151210 0 30368 0 118 0 6253 0 39898 0 227847 0 0 0 ROZA KHAN HOUSE MANAGER 165016 0 1761 0 1740 0 3493 0 10043 0 182053 0 0 0 DAVID BOTTE ADMINISTRATOR 133278 0 25750 0 92 0 5302 0 10043 0 174465 0 0 0 KATHLEEN D'AMICO SALES DIRECTOR 71199 0 74761 0 152 0 3021 0 38859 0 187992 0 0 0 PART I, LINE 3 OFFICER COMPENSATION WAS PREPARED AND VOTED ON BY THE BOARD OF TRUSTEES. THE BOARD ALSO USES DATA FROM AREA COMMUNITIES. PART I, LINE 7 BONUSES ARE BASED ON PERFORMANCE. THE BOARD OF TRUSTEES APPROVES THE BONUS FOR THE PRESIDENT/CEO AND THE PRESIDENT/CEO APPROVES THE BONUSES FOR ALL OTHERS. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 2017-03-31 58700000 SEE PART VI 0 0 0 A 7756412 58700000 37818121 473679 956117 17330722 2121361 2019 1 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 0 0 0 0 1 A 1 PART I - COLUMN F, DESCRIPTION OF PURPOSE: REFINANCING OF SERIES 2013A AND SERIES 2013B BONDS, TERMINATION FEE ASSOCIATED WITH THE 2013A BOND SWAP, FINANCING THE COSTS RELATING TO THE ACQUISITION AND CONSTRUCTION OF ENHANCED LIVING BUILDING, AS WELL AS IMPROVEMENT AND RENOVATION OF EXISTING FACILITY AND CAPITAL ASSETS. FORM 990, PART VI, SECTION A, LINE 6 EDGEWOOD SENIOR SOLUTIONS GROUP, INC. IS THE SOLE MEMBER. FORM 990, PART VI, SECTION A, LINE 7B EDGEWOOD SENIOR SOLUTIONS GROUP, INC. IS THE SOLE MEMBER OF THE CORPORATION AND POSSESS THE POWERS RESERVED BY THE MEMBER AS WRITTEN IN THE BY-LAWS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE ORGANIZATION'S ACCOUNTING FIRM BASED ON INFORMATION PROVIDED BY THE ORGANIZATION'S MANAGEMENT. THE 990 IS REVIEWED BY MANAGEMENT PRIOR TO SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C EACH DIRECTOR, OFFICER AND MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS SUCH PERSON: A. HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, B. HAS READ AND UNDERSTANDS THE POLICY, C. HAS AGREED TO COMPLY WITH THE POLICY, AND D. HAS DISCLOSED ANY ACTIVITY, RELATIONSHIP, POSITION OR CIRCUMSTANCE THAT COULD CONTRIBUTE TO A CONFLICT OF INTEREST AS DEFINED IN THE CONFLICT OF INTEREST POLICY. IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF COMMITTEES WITH GOVERNING BOARD DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE BOARD OR GOVERNING COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. PROCEDURES FOR ADDRESSING THE CONFLICT OF INTEREST A. AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE BOARD OR GOVERNING COMMITTEE MEETING BUT, AFTER THE PRESENTATION, HE/SHE SHALL LEAVE THE MEETING DURING THE DISCUSSION OF AND THE VOTE ON THE TRANSACTION OR ARRANGEMENT INVOLVING THE POSSIBLE CONFLICT OF INTEREST. B. THE CHAIRPERSON OF THE BOARD OR GOVERNING COMMITTEE SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. C. AFTER EXERCISING DUE DILIGENCE, THE BOARD OR GOVERNING COMMITTEE SHALL DETERMINE WHETHER EDGEWOOD CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. D. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE GOVERNING BOARD OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN EDGEWOOD'S BEST INTERESTS, FOR ITS OWN BENEFIT AND WHETHER IT IS FAIR AND REASONABLE. IN CONFORMITY WITH THE ABOVE DETERMINATION, IT SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT. VIOLATIONS OF THE CONFLICTS OF INTEREST POLICY A. IF THE BOARD OR GOVERNING COMMITTEE HAS REASONABLE CAUSE TO BELIEVE A DIRECTOR OR OFFICER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE DIRECTOR OR OFFICER OF THE BASIS FOR SUCH BELIEF AND AFFORD THE DIRECTOR OR OFFICER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. B. IF, AFTER HEARING THE DIRECTOR OR OFFICER'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE BOARD OR GOVERNING COMMITTEE DETERMINES THE DIRECTOR OR OFFICER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. FORM 990, PART VI, SECTION B, LINE 15A THE CEO'S COMPENSATION PACKAGE WAS PREPARED AND VOTED ON BY THE BOARD OF TRUSTEES. THE BOARD USED DATA FROM AREA COMMUNITIES (NEW ENGLAND) TO FORM THIS PACKAGE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FORM 990 AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). IN ADDITION, THE ORGANIZATION'S FORM 990 WITHOUT SCHEDULE B IS AVAILABLE VIA GUIDESTAR AND THE MASSACHUSETTS ATTORNEY GENERAL'S WEBSITE. FORM 990, PART XII, LINE 3B: THE ORGANIZATION IS CURRENTLY UNDERGOING THE REQUIRED AUDIT. EDGEWOOD SENIOR SOLUTIONS GROUP INC 575 OSGOOD STREET NORTH ANDOVER MA 01845 824269225 TO SUPPORT INTEGRATED SYSTEM OF SENIOR LIVING FACILITIES MA 501(C)(3) LINE 12A, I 0 THE BALDWIN SENIOR LIVING 1 COMMONS DRIVE UNIT 24 LONDONDERRY NH 03053 371930273 SENIOR LIVING FACILITY NH 501(C)(3) LINE 10 EDGEWOOD SENIOR SOLUTIONS GROUP INC 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 1 0