2025-11-07T12:17:56-06:00 2024-12-31 410746749 CLIFTONLARSONALLEN LLP TWO INTERNATIONAL PLACE 22ND FLOOR BOSTON MA 02110 990 2024-01-01 043195775 EDGEWOOD RETIREMENT COMMUNITY INC EDGE 9787253300 575 OSGOOD STREET NORTH ANDOVER MA 01845 MARLENE ROTERING PRESIDENT/CEO 9787253300 2025-11-06 1 1 KATARZYNA O PADZIK P02268641 7819821001 2025-11-06 2024 2025-03-06 01:10:19Z MARLENE ROTERING 575 OSGOOD STREET NORTH ANDOVER MA 01845 41470518 0 X WWW.EDGEWOODRC.COM X 1993 MA THE ORGANIZATION IS A CONTINUING CARE RETIREMENT COMMUNITY. 16 15 389 19 0 0 327127 328655 28585989 29659388 673010 1844024 0 0 29586126 31832067 283395 0 0 0 14287596 15251716 0 0 0 15165608 15054739 29736599 30306455 -150473 1525612 144132237 154895092 172900529 178796269 -28768292 -23901177 THE ORGANIZATION OFFERS INDEPENDENT LIVING, HEALTHCARE AND SUPPORTIVE SERVICES TO EMPOWER MEMBERS TO BE ARCHITECTS OF THEIR OWN WELL-BEING. THE ORGANIZATION ACCOMPLISHES THIS BY A RELENTLESS PURSUIT OF A CARING CULTURE WITH PASSIONATE ATTENTION TO INDIVIDUAL NEEDS AND VALUES. 0 0 27595373 0 29659388 THE COMMUNITY CONSISTS OF 217 RESIDENTIAL UNITS, 24 COTTAGES, COMMON SPACE, 40 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. EDGEWOOD ALSO OPERATES THE WOODLANDS INN WHICH IS AN ASSISTED LIVING FACILITY. THE INN IS A COMMUNITY THAT CONSISTS OF 40 UNITS. 27595373 1 1 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 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 1 1 0 0 1 132 0 1 389 1 0 0 0 0 0 0 0 0 0 0 0 0 X 16 15 1 1 0 0 1 0 1 1 0 0 0 1 1 1 1 1 1 1 0 0 MA X BRYAN DEVEAU 9787254129 575 OSGOOD STREET NORTH ANDOVER MA 01845 MARLENE ROTERING PRESIDENT/CEO 11.00 34.00 X X 0 766709 62213 JANE P SULLIVAN CFO 14.00 31.00 X 0 354666 33024 KATHLEEN D' AMICO DIRECTOR OF MARKETING 10.00 30.00 X 197194 0 49157 DAVID BOTTE EXECUTIVE DIRECTOR 40.00 0.00 X 212795 0 19916 ROZA KHAN HOUSE MANAGER 60.00 0.00 X 208166 0 16072 BETH SKAFAS ADMINISTRATOR 40.00 0.00 X 165925 0 49441 ROBERT COPPOLA PROJECT MANAGER 12.00 28.00 X 198807 0 13990 THOMAS SMITH CHAIR 1.00 1.00 X X 0 0 0 MICHAEL D CONSOLI VICE CHAIR 1.00 0.00 X X 0 0 0 MARLENE HOYT TREASURER 1.00 0.00 X X 0 0 0 ROBIN GORSKI-ROUTHIER SECRETARY 1.00 0.00 X X 0 0 0 MICHAEL W HAWKINS TRUSTEE 1.00 2.00 X 0 0 0 DANIEL B COTE TRUSTEE (JOINED 05/2024) 1.00 0.00 X 0 0 0 RICHARD L SUMBERG TRUSTEE 1.00 0.00 X 0 0 0 KENNETH R FEYL TRUSTEE (JOINED 05/2024) 1.00 0.00 X 0 0 0 SAYEEDA RAHMAN MD TRUSTEE 1.00 0.00 X 0 0 0 SARAH MCEVOY TRUSTEE 1.00 0.00 X 0 0 0 MARY M SHANNON TRUSTEE (JOINED 05/2024) 1.00 0.00 X 0 0 0 MARK B JOHNSON ESQUIRE TRUSTEE (JOINED 05/2024) 1.00 0.00 X 0 0 0 GEORGE AUCLAIR RESIDENT TRUSTEE 1.00 0.00 X 0 0 0 HEATHER HART RESIDENT TRUSTEE (JOINED 02/2024) 1.00 0.00 X 0 0 0 HOLLIS YOUNG RESIDENT TRUSTEE 1.00 0.00 X 0 0 0 ELLIOT HACKER TREASURER (UNTIL 05/2024) 1.00 0.00 X X 0 0 0 CAMILLE MIRAGLIOTTA DALY SECRETARY (UNTIL 05/2024) 1.00 2.00 X X 0 0 0 SWAITHA MARIPURI TRUSTEE (UNTIL 05/2024) 1.00 1.00 X 0 0 0 MICHAEL TULE ESQ TRUSTEE (UNTIL 05/2024) 1.00 2.00 X 0 0 0 982887 1121375 243813 20 0 1 0 PIMINTEL CONSTRUCTION CO 231 ANDOVER STREET WILMINGTION MA 01887 CONSTRUCTION 784954 EDGEWOOD SENIOR SOLUTIONS GROUP INC 575 OSGOOD STREET NORTH ANDOVER MA 01845 MANAGEMENT/CONSULTING SUPPORT 528000 ILLUMIA PO BOX 6304 ASHLAND VA 23005 MARKETING SERVICES 493262 FUNCTIONAL PATHWAYS 10133 SHERRILL BOULEVARD KNOXVILLE TN 37932 REHAB/THERAPY SERVICES 326775 CHAPMAN CONSTRUCTIONDESIGN 84 WINCHESTER STREET NEWTON MA 02461 CONSTRUCTION 300217 17 328655 328655 IND. LIVING UNIT RESIDENT SERVICE 623000 19000602 19000602 HEALTH CTR RESIDENT SERVICES FEES 623000 4733595 4733595 ASSISTED LIVING SERVICES 623000 3991910 3991910 ENTRANCE FEES 623000 1933281 1933281 29659388 1658803 1658803 9823672 9638451 185221 185221 185221 31832067 29659388 0 1844024 11980358 10771174 1209184 183334 164830 18504 2214910 1991358 223552 873114 784990 88124 528000 528000 27883 27883 8103 8103 136890 136890 1022519 1022519 507371 507371 67101 67101 389101 307465 81636 2424540 2402377 22163 15872 15872 1316921 1291335 25586 4839177 4803202 35975 568111 562918 5193 FOOD & SUPPLIES 2021280 1952142 69138 REPAIRS AND MAINTENANCE 763464 756331 7133 MEDICAL SUPPLIES 182117 182117 LICENSES AND DUES 141045 141045 95244 95244 30306455 27595373 2711082 0 3390008 10452575 2125583 335870 2127914 3223628 236603 217948 619200 427904 152562034 74615178 79601552 77946856 40937790 47501744 15093587 14788567 144132237 154895092 1512373 2066608 117958049 124253929 46791054 44798938 6639053 7676794 172900529 178796269 X -28835697 -23998311 67405 97134 -28768292 -23901177 144132237 154895092 1525612 3341503 0 X 0 1 X 1 0 X 2969076 362024 304497 327127 328655 4291379 24435212 26443146 27000433 28585989 29659388 136124168 27404288 26805170 27304930 28913116 29988043 140415547 199077 258041 457118 0 199077 258041 457118 139958429 497586 645925 796305 1113674 1658803 4712293 497586 645925 796305 1113674 1658803 4712293 27901874 27451095 28101235 30026790 31646846 145127840 0.96440 0.97210 0.03250 0.02640 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 1239 1239 0 PART II-B, LINE 1: MEMBERSHIP DUES PAID TO HEALTH CARE ASSOCIATIONS WHERE A PORTION OF DUES IS RELATED TO LOBBYING. 2650 2650 2650 2650 2650 2650 2650 2650 2650 2650 0.00000 1.00000 0.00000 0 0 5334577 5334577 138266837 67236874 71029963 7359285 6616187 743098 1601335 762117 839218 77946856 INTERCOMPANY RECEIVABLE 14788567 14788567 REFUNDABLE DEPOSITS 7676794 7676794 X 35173570 3341503 3341503 31832067 0 31832067 30306455 0 30306455 0 30306455 PART V, LINE 4: THE INTENDED USE OF THE ORGANIZATION'S ENDOWMENT FUND 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, 2024, MANAGEMENT HAS EVALUATED THE COMMUNITY'S TAX POSITIONS AND CONCLUDED THAT THE COMMUNITY HAD 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 U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR THREE YEARS AFTER THE DATE FILED. 0 0 0 0 0 0 0 1 0 MARLENE ROTERING PRESIDENT/CEO 0 451333 0 256314 0 59062 0 13800 0 48413 0 828922 0 0 JANE P SULLIVAN CFO 0 247493 0 83704 0 23469 0 7934 0 25090 0 387690 0 0 KATHLEEN D' AMICO DIRECTOR OF MARKETING 97919 0 99275 0 0 0 4190 0 44967 0 246351 0 0 0 DAVID BOTTE EXECUTIVE DIRECTOR 183838 0 28957 0 0 0 7297 0 12619 0 232711 0 0 0 ROZA KHAN HOUSE MANAGER 202391 0 5775 0 0 0 4084 0 11988 0 224238 0 0 0 BETH SKAFAS ADMINISTRATOR 165925 0 0 0 0 0 3981 0 45460 0 215366 0 0 0 ROBERT COPPOLA PROJECT MANAGER 109999 0 88808 0 0 0 4412 0 9578 0 212797 0 0 0 PART I, LINE 3 THE PRESIDENT/CEO IS COMPENSATED BY A RELATED ORGANIZATION, WHICH USES FORM 990 OF OTHER ORGANIZATIONS, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE TO ESTABLISH THE COMPENSATION. 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 13625629 58700000 37818121 473679 956117 17330722 2121361 2019 1 0 1 1 A 0 0 0 0 0 0 1 A 0 0 0 1 0 0 0 0 1 A 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: MASSACHUSETTS DEVELOPMENT FINANCE AGENCY DATE THE REBATE COMPUTATION WAS PERFORMED: 03/31/2022 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 2 MARLENE ROTERING, PRESIDENT/CEO AND JANE SULLIVAN, CFO ARE OFFICERS AND EMPLOYEES OF EDGEWOOD SENIOR SOLUTIONS, INC. ("ESSG"), A RELATED ORGANIZATION THAT PROVIDES MANAGEMENT SERVICES TO THE ORGANIZATION. IN 2024, THOMAS SMITH, MICHAEL W. HAWKINS, CAMILLE MIRAGLIOTTA DALY, AND MICHAEL B. TULE WERE BOARD MEMBERS OF BOTH ESSG AND EDGEWOOD RETIREMENT COMMUNITY, INC., AND THEREFORE MS. ROTERING AND MS. SULLIVAN MAY BE DEEMED TO HAVE BUSINESS RELATIONSHIPS WITH THESE BOARD MEMBERS. FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION DELEGATED CONTROL OVER MANAGEMENT AND FINANCIAL DUTIES TO A RELATED ORGANIZATION, EDGEWOOD SENIOR SOLUTIONS GROUP, INC. THE MANAGEMENT COMPANY IS A NON-PROFIT SUPPORTING ORGANIZATION WHICH ENGAGES IN EXECUTIVE MANAGEMENT, FINANCIAL MANAGEMENT, COMPLIANCE, AUDIT AND TAX AND INFORMATIONAL TECHNOLOGY SERVICES. MANAGEMENT FEES PAID IN 2024 TOTALED $528,000. THE ORGANIZATION'S PRESIDENT/CEO AND CFO WERE COMPENSATED BY THE MANAGEMENT COMPANY. 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 POSSESSES THE POWERS RESERVED BY THE MEMBER AS WRITTEN IN THE BY-LAWS. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH BROAD AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BOARD. 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 FORM 990 IS REVIEWED BY MANAGEMENT AND PROVIDED TO THE GOVERNING BOARD PRIOR TO SUBMISSION WITH THE INTERNAL REVENUE SERVICE. 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 WITH 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 PRESIDENT/CEO'S COMPENSATION PACKAGE WAS PREPARED AND VOTED ON BY THE INDEPENDENT MEMBERS OF THE BOARD OF TRUSTEES. THE BOARD USES COMPARABILITY DATA FROM AREA COMMUNITIES (NEW ENGLAND) TO FORM THIS PACKAGE. CONTEMPORANEOUS DOCUMENTATION OF THE DELIBERATIONS AND DECISIONS IS KEPT. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FORM 990 & FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE 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. 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 N/A 0 THE BALDWIN SENIOR LIVING 50 WOODMONT AVENUE LONDONDERRY NH 03053 371930273 SENIOR LIVING FACILITY NH 501(C)(3) LINE 10 EDGEWOOD SENIOR SOLUTIONS GROUP 1 0 0 0 1 0 0 0 0 0 0 0 1 1 1 1 0 1 0 0 THE BALDWIN SENIOR LIVING INC D 13976800 COST