2019-02-08T11:23:00-06:00 2018-03-31 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 1650 MARKET STREET SUITE 4500 PHILADELPHIA PA 191037341 990 2017-04-01 042716090 NORTH HILL NEEDHAM INC NORT 7814449910 865 CENTRAL AVE NEEDHAM MA 02492 DARREN ROY CFO 7814449910 2019-02-07 1 JULIUS C GREEN CPA P00350393 2159720701 X 96.80.2.34 2019-02-07 15:14:21 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 F58787FA80410BAE38B710EAF9FCC5760AD3BCDF 2017 2019-02-21 02:37:17Z TED OWENS 865 CENTRAL AVE NEEDHAM MA 02492 40112404 0 X WWW.NORTHHILL.ORG X 1979 MA TO PROVIDE HOUSING & HEALTHCARE SERVICES TO RESIDENTS FOR LIFE REGARDLESS OF THEIR ABILITY TO PAY. 19 18 443 35 0 0 5887 22195 31730552 35783919 2354878 2080520 394330 608536 34485647 38495170 0 0 0 0 15191431 16767646 0 0 0 24526932 24056743 39718363 40824389 -5232716 -2329219 198092576 195284237 229892088 241114187 -31799512 -45829950 X NORTH HILL NEEDHAM, INC. IS A MISSION-DRIVEN ORGANIZATION THAT PROVIDES HOUSING AND HEALTHCARE SERVICES TO THE ELDERLY, AND TAKES CARE OF ITS RESIDENTS FOR LIFE EVEN WHEN THEIR FINANCIAL RESOURCES ARE DEPLETED. 0 0 30935294 0 35783919 NORTH HILL NEEDHAM, INC. IS A 501(C)(3) TAX-EXEMPT CONTINUING CARE RETIREMENT COMMUNITY GOVERNED BY A BOARD OF TRUSTEES COMPRISED OF CITIZENS FROM SURROUNDING LOCAL COMMUNITIES. NORTH HILL NEEDHAM, INC. BEGAN ITS TRADITION OF LEADERSHIP IN 1984 OFFERING NEW SENIOR LIVING OPPORTUNITIES AND INTRODUCING LIFECARE TO MASSACHUSETTS. MORE THAN 30 YEARS LATER, NORTH HILL NEEDHAM, INC. OPERATES A LIFECARE RETIREMENT COMMUNITY WHICH INCLUDES 323 APARTMENTS, 45 ENHANCED INDEPENDENT LIVING APARTMENTS, AND A 72-BED SKILLED NURSING FACILITY. OVER THE YEARS, NORTH HILL NEEDHAM, INC. HAS INNOVATED WAYS TO ENHANCE THE LIVES OF PEOPLE 65 AND BETTER. "PURPOSEFULL LIVING" IS THE HEART OF THE TRUE NORTH SPIRIT. IT IS BOTH A PHILOSOPHY AND APPROACH TO LIFE, DESIGNED TO ENRICH THE WELL-BEING OF EACH PERSON WHO LIVES AND WORKS AT NORTH HILL NEEDHAM, INC. NORTH HILL NEEDHAM, INC. CONNECTS ITS RESIDENTS WITH AN ABUNDANCE OF OPPORTUNITIES ON AND AROUND ITS CAMPUS. RESIDENTS CAN TAKE CLASSES AT A NEARBY UNIVERSITY OR TAKE IN THE EXTRAORDINARY CULTURAL OFFERINGS OF BOSTON. THEY CAN STRENGTHEN THEIR MINDS THROUGH BOOK CLUBS, ART CLASSES AND LECTURES AND STRENGTHEN THEIR BODIES IN THE INDOOR POOL OR BY JOINING THE OUTDOOR WALKING CLUB. NORTH HILL NEEDHAM, INC. PROVIDES THE PEACE OF MIND OF LIFECARE AND A 90% REFUNDABLE ENTRANCE FEE - TWO FIRSTS FOR THE STATE OF MASSACHUSETTS. THE 90% REFUNDABLE ENTRANCE FEE KEEPS NORTH HILL NEEDHAM, INC.'S LIFESTYLE AND SERVICES AFFORDABLE FOR THOSE IN THE WELLESLEY/NEEDHAM COMMUNITY AND KEEPS PRICING STABLE FOR THE LEVEL OF CARE PROVIDED.SINCE 2010, NORTH HILL NEEDHAM, INC. HAS OFFERED THREE TYPES OF CONTRACTS: THE FLAGSHIP 90% REFUNDABLE WITH LIFE CARE, DECLINING BALANCE WITH LIFECARE AND 90% REFUNDABLE WITHOUT LIFECARE. 30935294 1 1 0 1 0 0 0 0 1 0 1 1 0 0 1 0 0 1 0 0 1 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 1 119 0 1 443 1 0 0 0 0 0 0 0 0 0 0 X 19 18 0 0 1 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X DARREN ROY CFO 7814449910 865 CENTRAL AVE NEEDHAM MA 02492 TED OWENS PRES./CEO (5/17-12/17), CHAIR 2.00 38.00 X X 0 154171 0 CHRISTOPH HOFFMANN TRUSTEE 1.00 2.50 X 1800 0 0 KATHERINE BABSON JR TRUSTEE 1.00 X 600 0 0 DAVID DINWOODEY TRUSTEE 1.00 X 600 0 0 MAURICE HANDEL TRUSTEE 2.00 X 1200 0 0 DR ELLIOT PRATHER PALMER TRUSTEE 1.00 X 600 0 0 MICHAEL PRICE TRUSTEE 1.00 X 600 0 0 EDWIN REILLY TRUSTEE 2.00 X 1200 0 0 JOHN SCHWARZ TRUSTEE 1.00 2.50 X 600 0 0 GAIL WALCOTT TRUSTEE 2.00 X 1200 0 0 SARAH WILCOX TRUSTEE 1.00 X 600 0 0 DAVID HANSEN TRUSTEE 2.00 X 1200 0 0 SUSAN MELLACE TRUSTEE 2.00 X 1200 0 0 GEORGE PETERMAN TRUSTEE 1.00 X 600 0 0 RON RUTH TRUSTEE 2.00 X 1200 0 0 TINA VASCONCELLES VICE CHAIR 1.00 2.50 X X 1200 0 0 WALTER ARMSTRONG TRUSTEE 1.00 X 600 0 0 RUSSELL CORSINI JR TRUSTEE 1.00 X 600 0 0 RICHARD DAVIS TRUSTEE 1.00 X 600 0 0 DARREN ROY CHIEF FINANCIAL OFFICER 8.00 32.00 X 0 188110 5009 KEVIN L BURKE PRES. & CEO (DEPARTED 6/17) 8.00 32.00 X 0 333262 13603 ROB FALLON PRESIDENT & CEO (12/17-9/18) 8.00 32.00 X 0 9040 0 DAVID MAW EXECUTIVE DIRECTOR 24.00 16.00 X 166741 0 26631 EDDIE BROWN DIRECTOR OF HUMAN RESOURCES 40.00 X 127431 0 3983 HAROLD GOODALE DIRECTOR OF FACILITIES 40.00 X 132579 0 11608 SARA LAWARE CONTROLLER 40.00 X 135743 0 11649 SUSAN GONZALES DIRECTOR OF NURSING 40.00 X 116831 0 8421 JOSHUA BOTSFORD DIRECTOR OF DINING 40.00 X 110539 0 1484 806064 684583 82388 10 0 1 0 HERITAGE HEALTHCARE 1009 RESEVOIR AVE CRANSTON RI 01730 HOUSEKEEPING SERVICES 744581 SELECT REHABILITATION INC PO BOX 809056 CHICAGO IL 606809056 REHAB SERVICES 361749 SEBASTIAN PINTO FILHO 36 BALLARDVALLE ST WILMINGTON MA 01887 CONSTRUCTION 308750 WOOD COMMERCIAL PAINTING INC 258 WILLIARD ST QUINCY MA 04742 PAINTING SERVICES 261808 DE LA CRUZ CONSTRUCTION CORP 225 PARIS ST EAST BOSTON MA 05173 CONSTRUCTION 259550 12 22195 7195 22195 APARTMENT SERVICE REVENUE 623990 21066422 21066422 SKILLED NURSING REVENUE 623000 6524391 6524391 ENTRANCE FEES 623000 4289422 4289422 ENHANCED LIVING REVENUE 900099 3903684 3903684 35783919 599421 599421 125140 20284 104856 104856 104856 3053519 225 1538291 34354 1515228 -34129 1481099 1481099 35300 24305 10995 10995 GUEST CATERING/DINING 900099 154134 154134 SUPPORT SERVICES 900099 152721 152721 ACTIVITY/TRIP FEES 900099 77807 77807 108023 108023 492685 38495170 35783919 0 2689056 220436 198836 21600 13599452 10437047 3162405 203051 158101 44950 1717923 1305029 412894 1026784 792108 234676 972758 972758 68775 68775 43297 43297 1497 1497 94345 94345 922369 520668 401701 311416 311416 2602172 1572015 1030157 193694 8948 184746 2824349 1580113 1244236 49118 31187 17931 43984 15556 28428 3526903 3526903 7535670 7535670 383336 60730 322606 DINING SERVICE EXPENSE 1873145 1873145 LEASE AGREEMENT EXPENSE 1016136 1016136 REPAIRS & MAINTENANCE 619518 488941 130577 THERAPY 381336 381336 592925 448961 143964 40824389 30935294 9889095 0 200 200 4515997 5756063 818331 740639 365252 418855 339283 331371 198481968 58722583 142394663 139759385 25033006 31301640 16478848 14691597 8146996 2284487 198092576 195284237 3373964 2281080 30356445 31519081 47981975 56679683 425614 1905627 280351 147473739 148728716 229892088 241114187 X -31799512 -45829950 -31799512 -45829950 198092576 195284237 X -2329219 1436263 -13137482 X 0 1 X 1 0 X 5887 22195 28082 23488273 24001440 27893338 31730552 35783919 142897522 23488273 24001440 27893338 31736439 35806114 142925604 0 0 0 142925604 643090 768316 493286 407779 724561 3037032 643090 768316 493286 407779 724561 3037032 179306 311623 322489 369518 527985 1710921 24310669 25081379 28709113 32513736 37058660 147673557 0.96780 0.96940 0.02060 0.02180 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: GENERAL STORE SALES - 2013 AMOUNT: $ 50,492. 2014 AMOUNT: $ 55,352. 2015 AMOUNT: $ 53,300. 2016 AMOUNT: $ 45,961. 2017 AMOUNT: $ 35,300. GUEST ROOMS/COTS - 2013 AMOUNT: $ 55,669. ACTIVITY/TRIP FEES - 2013 AMOUNT: $ 32,267. 2014 AMOUNT: $ 22,898. 2015 AMOUNT: $ 48,229. 2016 AMOUNT: $ 62,965. 2017 AMOUNT: $ 77,807. MISC INCOME - 2013 AMOUNT: $ 40,878. 2014 AMOUNT: $ 39,996. CUSTOMIZATION INCOME - 2014 AMOUNT: $ 21,028. 2015 AMOUNT: $ 26,761. 2016 AMOUNT: $ 31,536. 2017 AMOUNT: $ 45,181. COURSES EVENT REGISTRATION - 2014 AMOUNT: $ 16,025. 2015 AMOUNT: $ 10,261. 2016 AMOUNT: $ 2,169. 2017 AMOUNT: $ 975. WELLNESS REVENUE - 2014 AMOUNT: $ 9,138. 2015 AMOUNT: $ 5,151. 2016 AMOUNT: $ 4,802. 2017 AMOUNT: $ 4,105. GUEST CATERING/DINING - 2014 AMOUNT: $ 147,186. 2015 AMOUNT: $ 153,442. 2016 AMOUNT: $ 152,485. 2017 AMOUNT: $ 154,134. SUPPORT SERVICES - 2015 AMOUNT: $ 25,345. 2016 AMOUNT: $ 69,600. 2017 AMOUNT: $ 152,721. GARAGE SERVICE FEES - 2017 AMOUNT: $ 57,762. 0 0 0 0 0 0 0 0 1 1497 1497 0 PART II-B, LINE 1: THE ORGANIZATION PAYS DUES TO ASSOCATIONS WHOSE PURPOSE IT IS TO SUPPORT SENIOR CITIZENS AND THEIR NEEDS. A PORTION OF THE DUES PAID IS ALLOCATED TO LOBBYING. 0 1 X 10655800 10655800 136864887 44885284 91979603 20102662 13293080 6809582 30858619 544219 30314400 139759385 ALTERNATIVE INVESTMENTS 14691597 F 14691597 REFUNDS PAYABLE 5080077 REFUNDABLE ENTRANCE FEES 142394527 ACCRUED LEASE OBLIGATION 1312422 ACCRUED INTEREST PAYABLE 163831 DUE TO AFFILIATE -222141 148728716 26778324 1436263 -13231827 -11795564 38573888 -78718 -78718 38495170 40808762 78718 78718 40730044 94345 94345 40824389 PART IV, LINE 2B: NORTH HILL NEEDHAM MAINTAINS ESCROW ACCOUNTS FOR PRIVATE PAY RESIDENTS IN THE SKILLED NURSING AND ENHANCED LIVING ENVIRONMENTS AND ALSO FOR POTENTIAL INDEPENDENT LIVING RESIDENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: INVESTMENT FEES -94,345. TRANSFER TO RELATED ORGANIZATION -1,000,000. LOSS ON EXTINGUISHMENT OF DEBT -12,722,710. CHANGE IN VALUE OF INTEREST RATE SWAP 585,228. PART XI, LINE 4B - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF PROPERTY -34,129. COST OF GOODS SOLD -24,305. RENTAL EXPENSES -20,284. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF PROPERTY 34,129. COST OF GOODS SOLD 24,305. RENTAL EXPENSES 20,284. PART XII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT FEES 94,345. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 7506815 0 0 0 0 0 0 7506815 0 7506815 1 0 1 1 1 0 SCHEDULE F, PART IV: THE ORGANIZATION HAS SEVERAL INVESTMENTS IN FOREIGN CORPORATIONS AND PARTNERSHIPS. THE INVESTMENTS DID NOT MEET THE THRESHOLD FOR FILING FOREIGN FORMS. X X X X X 0 0 0 0 0 0 0 1 0 TED OWENS PRES./CEO (5/17-12/17), CHAIR 0 154171 0 0 0 0 0 0 0 0 0 154171 0 0 DARREN ROY CHIEF FINANCIAL OFFICER 0 178110 0 10000 0 0 0 3551 0 1458 0 193119 0 0 KEVIN L BURKE PRES. & CEO (DEPARTED 6/17) 0 276862 0 56400 0 0 0 3091 0 10512 0 346865 0 0 DAVID MAW EXECUTIVE DIRECTOR 166741 0 0 0 0 0 3520 0 23111 0 193372 0 0 0 PART I, LINE 7 BONUS AMOUNTS REPORTED ON SCHEDULE J, PART II, COLUMN B(II) ARE DETERMINED ON A YEARLY BASIS AT THE DISCRETION OF EXECUTIVE MANAGEMENT AND THE BOARD OF TRUSTEES. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 2017-12-28 57810000 REFUND SERIES 2013A BONDS 0 0 0 A 298414 64569082 63782080 642478 144525 0 1 1 1 A 0 1 1 1 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 1 1 M&T BANK 10.000000000000 0 0 0 0 1 A 1 PART III, LINE 3 AMOUNT LISTED DIFFERS FROM THE ISSUE PRICE LISTED IN PART I, (E) DUE TO ACCRUED INTEREST PAYMENTS. FORM 990, PART VI, SECTION A, LINE 4 THE BYLAWS WERE UPDATED TO REFLECT THAT THERE SHOULD BE NO FEWER THAN 3 AND NO MORE THAN 25 VOTING TRUSTEES. FORM 990, PART VI, SECTION A, LINE 6 NORTH HILL COMMUNITIES, INC. IS THE SOLE MEMBER OF NORTH HILL NEEDHAM, INC. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF TRUSTEES SHALL CONSIST OF NO LESS THAN THREE NOR MORE THAN TWENTY-FIVE VOTING TRUSTEES AS SHALL BE DETERMINED FROM TIME TO TIME BY RESOLUTION OF THE MEMBER. FORM 990, PART VI, SECTION B, LINE 11B A PROFESSIONAL ACCOUNTING FIRM PREPARES A DRAFT OF FORM 990. IT IS REVIEWED BY MANAGEMENT, CHANGES ARE MADE AND A COPY IS PROVIDED TO THE BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C MONITORING - THE ORGANIZATION'S CONFLICT OF INTEREST POLICY PROVIDES THAT, ANNUALLY, EACH TRUSTEE SHALL COMPLETE AND SUBMIT TO THE CHAIRMAN OF THE BOARD OF TRUSTEES OR HIS/HER DESIGNEE A "STATEMENT OF OUTSIDE INTEREST AND ACTIVITIES FORM" OUTLINING ANY POSSIBLE CONFLICT OF INTEREST OR A STATEMENT INDICATING THAT NO SUCH CONFLICTS OF INTEREST EXIST. ANY NEWLY-APPOINTED TRUSTEE SHALL BE ASKED TO COMPLETE AND SUBMIT THE "STATEMENT OF OUTSIDE INTEREST AND ACTIVITIES FORM." EMPLOYEES AND AGENTS ARE REQUIRED TO REPORT ANY POTENTIAL OR ACTUAL CONFLICTS CONCERNING THEMSELVES OR FAMILY MEMBERS TO MANAGEMENT. MEMBERS OF SENIOR MANAGEMENT ARE ALSO REQUIRED TO REPORT ANY POTENTIAL OR ACTUAL CONFLICTS CONCERNING THEMSELVES OR FAMILY MEMBERS. TRUSTEES WOULD NOT BE ALLOWED TO VOTE ON ANY ISSUES WITH WHICH THEY HAVE A CONFLICT. ENFORCEMENT - FAILURE TO DISCLOSE A CONFLICT OR POTENTIAL CONFLICT OF INTEREST OR TO TAKE WHATEVER ACTION IS DEEMED APPROPRIATE BY THE CHAIRMAN OF THE BOARD MAY RESULT IN REMOVAL FROM OFFICE UNLESS THE CONFLICT OR POTENTIAL CONFLICT CAN BE RESOLVED. SENIOR MANAGEMENT IS SUBJECT TO THE CODE OF CONDUCT WHICH IS ENFORCED BY THE CORPORATE COMPLIANCE COMMITTEE. WHO IS COVERED? - THE ORGANIZATION'S CONFLICT OF INTEREST POLICY COVERS EACH MEMBER OR THE ORGANIZATION'S BOARD OF TRUSTEES. SENIOR MANAGEMENT, EMPLOYEES AND AGENTS ARE ALSO SUBJECT TO THE CODE OF CONDUCT. LEVEL OF DETERMINATION AND REVIEW OF CONFLICTS - THE CHAIRMAN REVIEWS ALL COMPLETED "STATEMENT OF OUTSIDE INTEREST AND ACTIVITIES FORMS" REGARDING CONFLICTS OF INTEREST. AS SOON AS ANY SITUATION AS TO WHICH A TRUSTEE MAY BE IN DOUBT COMES TO HIS/HER ATTENTION, FULL DISCLOSURE MUST BE MADE TO THE CHAIRMAN OF THE BOARD SO AS TO PERMIT AN IMPARTIAL AND OBJECTIVE DETERMINATION OF WHETHER A REAL OR POTENTIAL CONFLICT OF INTEREST EXISTS. MANAGEMENT AND/OR THE CORPORATE COMPLIANCE COMMITTEE REVIEW CONFLICTS REPORTED BY EMPLOYEES OR AGENTS. EMPLOYEES ARE NOT ALLOWED TO PARTICIPATE IN MANY ARRANGEMENTS SUCH AS JOINT VENTURES WITH AN ACTUAL OR POTENTIAL REFERRAL SOURCE AND CANNOT BE AN OFFICER, DIRECTOR, MANAGER OR CONSULTANT OF A POTENTIAL COMPETITOR OR SUPPLIER. THESE ARRANGEMENTS ARE EXPRESSLY PROHIBITED PURSUANT TO THE CODE OF CONDUCT. RESTRICTIONS PLACED ON CONFLICTED PERSONS - IF A CONFLICT OR POTENTIAL CONFLICT IS DEEMED BY THE CHAIRMAN OF THE BOARD TO EXIST, THEN THE TRUSTEE MAY BE REQUIRED, AMONG OTHER THINGS, TO REFRAIN FROM PARTICIPATING IN DISCUSSION AND DECISION-MAKING IN REGARD TO THIS MATTER ON BEHALF OF THE ORGANIZATION AND TO REMOVE HIMSELF OR HERSELF FROM THE MEETING DURING SUCH ACTION. FORM 990, PART VI, SECTION B, LINE 15 NORTH HILL COMMUNITIES, INC., THE SOLE MEMBER OF NORTH HILL NEEDHAM, INC., HANDLES THE RESPONSIBILITY OF DETERMINING COMPENSATION FOR NEEDHAM'S CEO, OTHER OFFICERS, AND KEY EMPLOYEES OR MANAGEMENT OFFICIALS. NORTH HILL COMMUNITIES, INC. DETERMINES THE COMPENSATION OF THE CEO, EXECUTIVE DIRECTOR AND OTHER OFFICERS AND KEY EMPLOYEES BY REVIEWING COMPENSATION DATA FROM THE FORM 990 OF SIMILAR ORGANIZATIONS, AS WELL AS BY UTILIZING THE SERVICES OF A COMPENSATION CONSULTANT AND REVIEWING A COMPENSATION STUDY. THIS INFORMATION IS ANALYZED BY THE HR TRUSTEES COMMITTEE, WHICH BRINGS THE RECOMMENDATIONS TO THE BOARD FOR APPROVAL. THE COMPENSATION STUDY IS PERFORMED ANNUALLY FOR THE CEO AND BI-ANNUALLY FOR OTHER MANAGEMENT PERSONNEL. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: TRANSFER TO RELATED ORGANIZATION -1,000,000. CHANGE IN VALUE OF INTEREST RATE SWAP 585,228. LOSS ON EXTINGUISHMENT OF DEBT -12,722,710. NORTH HILL COMMUNITIES INC 865 CENTRAL AVE NEEDHAM MA 02492 264416455 MANAGEMENT SERVICES MA 501(C)(3) LINE 12B, II N/A 0 NORTH HILL HOME HEALTH CARE INC 865 CENTRAL AVE NEEDHAM MA 02492 454336870 HOME HEALTHCARE SERVICES MA 501(C)(3) LINE 10 NORTH HILL COMMUNITIES INC 0 CONNECTED FOR LIFE INC 865 CENTRAL AVE NEEDHAM MA 02492 811415511 HOME HEALTHCARE SERVICES MA 501(C)(3) LINE 10 NORTH HILL COMMUNITIES INC 0 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 1 0