2025-11-13T10:14:59-06:00 2024-12-31 991856619 GRANT THORNTON ADVISORS LLC 53 STATE STREET SUITE 1600 BOSTON MA 02109 990 2024-01-01 030396397 ALTUS REALTY INC ALTU 4017526000 10 CHARLES STREET PROVIDENCE RI 02904 SEAN NEWTH CFO 4017526000 2025-11-13 1 1 ERIN COUTURE P01390592 6177237900 2024 2025-03-06 01:10:19Z SEAN NEWTH 10 CHARLES STREET PROVIDENCE RI 02904 1837179 0 X N/A X 2002 RI TITLE HOLDING COMPANY OPERATING TO MANAGE THE REAL AND PERSONAL PROPERTY (SEE SCHEDULE O) OF DELTA DENTAL OF RHODE ISLAND. 15 14 0 0 0 0 0 0 1304201 1824780 24025 12399 0 0 1328226 1837179 0 0 0 0 0 0 0 0 0 1284779 1272597 1284779 1272597 43447 564582 4693477 4686786 382308 -188965 4311169 4875751 TITLE HOLDING COMPANY OPERATING TO MANAGE THE REAL AND PERSONAL PROPERTY THAT SERVES AS THE MAIN OFFICE FACILITY OF DELTA DENTAL OF RHODE ISLAND. 0 0 ALTUS REALTY, INC. IS AN ORGANIZATION RECOGNIZED AS EXEMPT FROM TAXATION AS DESCRIBED IN INTERNAL REVENUE CODE SECTION 501(C)(2). ALTUS REALTY, INC OPERATES AS A TITLE HOLDING COMPANY WHICH MANAGES THE REAL AND PERSONAL PROPERTY THAT SERVES AS THE MAIN OFFICE FACILITY OF DELTA DENTAL RHODE ISLAND. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 15 14 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 X DUANE EASTER 4017526267 10 CHARLES STREET PROVIDENCE RI 02904 JOHN T RUGGIERI CHAIR 1.00 1.00 X X 0 14550 0 JAMES V ROSATI VICE CHAIR 1.00 1.00 X X 0 16200 0 MARC A PAULHUS DIRECTOR 1.00 1.00 X 0 12600 0 STEVEN ISSA DIRECTOR 1.00 1.00 X 0 13500 0 EDWIN J SANTOS DIRECTOR 1.00 1.00 X 0 12600 0 COLIN P KANE DIRECTOR 1.00 1.00 X 0 10800 0 JONATHAN W HALL DIRECTOR 1.00 1.00 X 0 12000 0 JUNIOR JABBIE DIRECTOR 1.00 1.00 X 0 10800 0 HEATHER A PROVINO DIRECTOR 1.00 1.00 X 0 11400 0 ELIZABETH CATUCCI DIRECTOR 1.00 1.00 X 0 9600 0 PETE HAYES DIRECTOR 1.00 1.00 X 0 9900 0 MARK SHAW DIRECTOR 1.00 1.00 X 0 9600 0 DR THOMAS ENRIGHT DIRECTOR 1.00 1.00 X 0 8400 0 CHRISTINE GADBOIS DIRECTOR 1.00 1.00 X 0 8400 0 MICHAEL F SABITONI DIRECTOR 1.00 1.00 X 0 7800 0 JOSEPH R PERRONI PRESIDENT & CEO 1.00 40.00 X 0 842228 72392 RICHARD A FRITZ SR. VP FINANCE & CFO 1.00 40.00 X 0 515602 68337 MELISSA GENNARI AVP & DIRECTOR COMPLIANCE 1.00 40.00 X 0 181575 22364 WILLIAM LANDRY SECRETARY 1.00 1.00 X 0 0 0 DUANE S EASTER AVP OF FINANCE 1.00 40.00 X 0 192752 53763 JOSEPH NAGLE FORMER PRESIDENT & CEO (THRU 6/2019) 1.00 40.00 X 0 163904 0 0 2064211 216856 0 1 1 0 0 RENTAL INCOME 531120 1613552 1613552 MAINTENANCE FEES 900099 211228 211228 1824780 12399 12399 1837179 1824780 0 12399 59644 337082 251892 24663 SECURITY EXPENSES 235257 MAINTENANCE & REPAIRS 233304 JANITORIAL EXPENSES 120253 ADMINISTRATIVE EXPENSES 9207 1295 1272597 514502 612114 -38724 14365 65751 100396 9841806 5881895 4151948 3959911 4693477 4686786 792102 207255 -409794 -396220 382308 -188965 X 0 0 0 0 4311169 4875751 4311169 4875751 4693477 4686786 564582 0 X 0 1 X 1 0 6870274 4144529 2725745 812726 809711 3015 2158806 927655 1231151 3959911 DUE TO AFFILIATES -396220 -396220 X PART X, LINE 2: ASC 740 ALTUS REALTY, INC. IS INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS OF DELTA DENTAL OF RHODE ISLAND. DELTA DENTAL OF RHODE ISLAND IS A NOT-FOR-PROFIT CORPORATION PURSUANT TO SECTION 501(C)(4) OF THE INTERNAL REVENUE CODE ("IRC") AND IS GENERALLY EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME UNDER SECTION 501(A) OF THE IRC. ACCORDINGLY, NO PROVISION FOR INCOME TAXES RELATIVE TO DELTA DENTAL OF RHODE ISLAND OR ALTUS REALTY HAVE BEEN MADE IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. ALTUS REALTY COMPANY IS A NONPROFIT REAL ESTATE HOLDING COMPANY PURSUANT TO SECTION 501(C)(2) OF THE IRC. THE COMPANY EVALUATES ITS UNCERTAIN TAX POSITIONS WITH A TWO-STEP PROCESS IN ACCORDANCE WITH GAAP. FIRST, THE COMPANY DETERMINES WHETHER IT IS MORE LIKELY THAN NOT THAT AN UNCERTAIN TAX POSITION WILL BE SUSTAINED UPON EXAMINATION BASED ON THE TECHNICAL MERITS OF THE POSITION. SECOND, AN UNCERTAIN TAX POSITION THAT MEETS THE MORE LIKELY THAN NOT THRESHOLD IS MEASURED TO DETERMINE THE AMOUNT OF BENEFIT TO RECOGNIZE IN THE FINANCIAL STATEMENTS. THE POSITION IS MEASURED AT THE LARGEST AMOUNT OF BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED UPON ULTIMATE SETTLEMENT. UNCERTAIN TAX POSITIONS THAT PREVIOUSLY FAILED TO MEET THE MORE LIKELY THAN NOT RECOGNITION THRESHOLD ARE RECOGNIZED IN THE FIRST SUBSEQUENT REPORTING PERIOD IN WHICH THE THRESHOLD IS MET. PREVIOUSLY RECOGNIZED UNCERTAIN TAX POSITIONS THAT NO LONGER MEET THE MORE LIKELY THAN NOT RECOGNITION THRESHOLD ARE DERECOGNIZED IN THE FIRST SUBSEQUENT REPORTING PERIOD IN WHICH THE THRESHOLD IS NO LONGER MET. SHOULD INTEREST OR PENALTIES BE ASSESSED, SUCH EXPENSES WOULD BE REFLECTED IN SELLING, GENERAL AND ADMINISTRATIVE EXPENSES. AS OF DECEMBER 31, 2024 AND 2023, THE COMPANY HAD NO UNCERTAIN TAX POSITIONS. 0 0 0 JOSEPH R PERRONI PRESIDENT & CEO 0 619661 0 218697 0 3870 0 44283 0 28109 0 914620 0 0 RICHARD A FRITZ SR. VP FINANCE & CFO 0 420571 0 83600 0 11431 0 46428 0 21909 0 583939 0 0 DUANE S EASTER AVP OF FINANCE 0 172380 0 18721 0 1651 0 25440 0 28323 0 246515 0 0 MELISSA GENNARI AVP & DIRECTOR COMPLIANCE 0 162989 0 17163 0 1423 0 21475 0 889 0 203939 0 0 JOSEPH NAGLE FORMER PRESIDENT & CEO (THRU 6/2019) 0 0 0 0 0 163904 0 0 0 0 0 163904 0 0 PART I, LINE 3: METHODS USED TO ESTABLISH COMPENSATION THE OFFICERS AND DIRECTORS OF THE ORGANIZATION ARE ALSO OFFICERS AND DIRECTORS OF DELTA DENTAL OF RHODE ISLAND (DDRI), A RELATED TAX EXEMPT ORGANIZATION, AND RECEIVE COMPENSATION FROM DDRI. DDRI ESTABLISHES THE CEO'S COMPENSATION USING A COMPENSATION COMMITTEE, AN INDEPENDENT COMPENSATION CONSULTANT, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE. PART I, LINE 4B: DURING THE 2024 CALENDAR YEAR, DELTA DENTAL OF RHODE ISLAND, A RELATED ORGANIZATION, MAINTAINED A SUPPLEMENTAL NON-QUALIFIED DEFERRED COMPENSATION PLAN FOR JOSEPH R. PERRONI, THOMAS D. CHASE, RICHARD A. FRITZ AND JOSEPH NAGLE. DURING 2024 JOSEPH NAGLE RECEIVED A $163,904 DISTRIBUTION FROM THE PLAN. FORM 990, PART VI, SECTION A, LINE 6 MEMBERS OF THE ORGANIZATION THE ORGANIZATION HAS 81 CORPORATE MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS THAT MAY ELECT THE GOVERNING BODY THE CORPORATE MEMBERS MEET ANNUALLY TO APPROVE ANY BY-LAW CHANGES AND TO ELECT INDIVIDUALS TO THE 15 MEMBER BOARD OF DIRECTORS, WHICH IS THE ORGANIZATION'S GOVERNING BODY. ALL 15 MEMBERS OF THE BOARD OF DIRECTORS ALSO SERVE AS REPRESENTATIVES OF THE CORPORATE MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B DECISIONS OF THE GOVERNING BODY SUBJECT TO APPROVAL BY MEMBERS THE CORPORATE MEMBERSHIP APPROVES OR REJECTS RECOMMENDATIONS MADE BY THE BOARD OF DIRECTORS RELATIVE TO ANY BY-LAW CHANGES OR NOMINATIONS OF INDIVIDUALS TO SERVE ON THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS THE ANNUAL FORM 990 IS PREPARED BY GRANT THORNTON ADVISORS LLC, THE COMPANY'S TAX ADVISOR USING INFORMATION PROVIDED BY ALTUS REALTY, INC. AFTER PREPARATION AND REVIEW OF THE RETURN BY GRANT THORNTON ADVISORS, THE DRAFT IS REVIEWED BY ALTUS REALTY'S FINANCE DEPARTMENT AND MANAGEMENT, INCLUDING THE CONTROLLER, SR VP-CFO, AND CEO AS NECESSARY. THE COMPLETE FORM 990 IS THEN PROVIDED TO EACH MEMBER OF THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY ALTUS REALTY INC. FOLLOWS THE CONFLICT INTEREST POLICY OF DELTA DENTAL OF RHODE ISLAND ("THE COMPANY"). ALL W-2 EMPLOYEES, INTERNS, TEMPS, DENTAL CONSULTANTS, AND BOARD MEMBERS COMPLETE AN ANNUAL CONFLICT OF INTEREST QUESTIONNAIRE. THE REVIEW PROCESS FOR COMPLETE QUESTIONNAIRES CONTAINING DISCLOSURES IS AS FOLLOWS: FOR W-2 EMPLOYEES, INTERNS, AND TEMPS, DISCLOSURES ARE REVIEWED BY THE AVP & DIRECTOR OF COMPLIANCE AND SR VP-CFO. DISCLOSED POTENTIAL CONFLICTS ARE DISCUSSED AND MAY BE ELEVATED IN THE REVIEW PROCESS TO THE CEO AND EXTERNAL LEGAL COUNSEL FOR ADVICE. ANY REQUIRED ACTIONS ARE IMMEDIATELY IMPLEMENTED IN ACCORDANCE WITH THE COMPANY'S DOCUMENTED CONFLICT OF INTEREST POLICIES. FOR THE CEO AND SR VP-CFO, DISCLOSURES ARE REVIEWED BY EXTERNAL LEGAL COUNSEL. LEGAL COUNSEL ADVISES OF ANY REQUIRED ACTIONS WHICH ARE IMMEDIATELY IMPLEMENTED IN ACCORDANCE WITH THE COMPANY'S DOCUMENTED STANDARDS OF CONDUCT AND BUSINESS ETHICS AND CONFLICT OF INTEREST POLICIES. FOR DENTAL CONSULTANTS, DISCLOSURES ARE REVIEWED BY THE AVP & DIRECTOR OF COMPLIANCE, THE SR VP-CFO, AND THE SR VP-COO. ALL CONFLICTS ARE DISCUSSED AND MAY BE ELEVATED TO EXTERNAL LEGAL COUNSEL FOR ADVICE. ANY REQUIRED ACTIONS ARE IMMEDIATELY IMPLEMENTED IN ACCORDANCE WITH THE COMPANY'S DOCUMENTED CONFLICT OF INTEREST POLICIES. FOR BOARD MEMBERS, DISCLOSURES ARE REVIEWED BY EXTERNAL LEGAL COUNSEL. LEGAL COUNSEL PREPARES A WRITTEN MEMORANDUM FOR PRESENTATION TO BOARD MEMBERS WITH THE RESULTS OF THE REVIEW. ALL CONFLICTS ARE DISCUSSED AND ANY REQUIRED ACTIONS ARE IMMEDIATELY IMPLEMENTED IN ACCORDANCE WITH THE COMPANY'S DOCUMENTED CONFLICT OF INTEREST POLICIES. IN THE CASE OF A CONFLICT, IMMEDIATE AND APPROPRIATE ACTION IS TAKEN IN ACCORDANCE WITH THE COMPANY'S POLICIES. PERSONS WITH A CONFLICT ARE RECUSED FROM DISCUSSIONS AND DO NOT VOTE ON RESOLUTIONS THAT PERTAIN DIRECTLY TO THEIR CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION POLICY THE OFFICERS AND DIRECTORS OF THE ORGANIZATION ARE ALSO OFFICERS AND DIRECTORS OF DELTA DENTAL OF RHODE ISLAND ("DDRI OR "THE COMPANY"), A RELATED TAX EXEMPT ORGANIZATION, AND RECEIVE COMPENSATION FROM DDRI. COMPENSATION FOR THESE INDIVIDUALS IS DETERMINED ACCORDING TO DDRI'S COMPENSATION POLICY. THE BOARD OF DIRECTORS OF DDRI ELECTS MEMBERS TO SERVE ON ITS COMPENSATION COMMITTEE WHICH IS RESPONSIBLE FOR SETTING THE CEO'S COMPENSATION AND APPROVING PAY RANGES FOR THE VARIOUS JOB TRACKS WITHIN THE COMPANY AS WELL AS APPROVING ANY FRINGE BENEFITS. THE COMPANY AND THE COMMITTEE ANNUALLY CONTRACT WITH INDEPENDENT COMPENSATION CONSULTANTS TO HELP DETERMINE APPROPRIATE PAY RANGES AND FRINGE BENEFITS SUCH AS HEALTH AND OTHER INSURANCES AND RETIREMENT AND OTHER BENEFITS. COMPARABLE DATA IS USED TO DETERMINE WHETHER COMPENSATION IS CONSISTENT WITH SIMILAR ORGANIZATIONS. RECOMMENDATION FOR THE CEO'S COMPENSATION ARE MADE BY THE COMPENSATION COMMITTEE TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL. THE REVIEW AND APPROVAL PROCESS IS CONTEMPORANEOUSLY DOCUMENTED IN THE MINUTES OF BOTH THE COMPENSATION COMMITTEE AND THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 PUBLIC DISCLOSURE ALTUS REALTY INC'S GOVERNING DOCUMENTS, SUCH AS BYLAWS AND CORPORATE CHARTER ARE AVAILABLE UPON REQUEST FROM THE COMPANY, AND CAN ALSO BE OBTAINED FROM THE SECRETARY OF STATE'S OFFICE WITHIN THE STATE OF RHODE ISLAND. DELTA DENTAL OF RHODE ISLAND'S CONFLICT OF INTEREST POLICY, AS WELL AS THE AUDITED FINANCIAL STATEMENTS ARE ALSO AVAILABLE UPON REQUEST AT DELTA DENTAL OF RHODE ISLAND'S HEADQUARTERS. ALTUS REALTY INC'S FORM 990 IS ALSO POSTED ON WWW.GUIDESTAR.ORG. DELTA DENTAL OF RHODE ISLAND 10 CHARLES STREET PROVIDENCE RI 02904 050296998 INSURANCE RI 501(C)(4) N/A N/A 0 THE ALTUS GROUP INC 10 CHARLES STREET PROVIDENCE RI 029042208 050502610 HOLDING COMPANY RI DDRI C 0 ALTUS DENTAL INC 10 CHARLES STREET PROVIDENCE RI 029042208 050502612 DENTAL NETWORK MA ALTUS GROUP INC C 0 ALTUS VENTURES INC 10 CHARLES STREET PROVIDENCE RI 029042208 465627174 INVESTMENT MGNT RI ALTUS GROUP INC C 0 ALTUS DENTAL INSURANCE CO INC 10 CHARLES STREET PROVIDENCE RI 029042208 050513223 INSURANCE RI ALTUS GROUP INC C 0 ALTUS SYSTEMS INC 10 CHARLES STREET PROVIDENCE RI 029042208 050502611 CLAIMS PROCESSING RI ALTUS GROUP INC C 0 FIRST CIRCLE INC 10 CHARLES STREET PROVIDENCE RI 029042208 814567207 SOFTWARE PLATFORM RI ALTUS GROUP INC C 0 FIRST CIRCLE REALTY INC 10 CHARLES STREET PROVIDENCE RI 029042208 832724654 MGMT. PROP. RI ALTUS GROUP INC C 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 1 1 0 1 0