2018-07-24T10:12:04-05:00 2017-12-31 010494526 Baker Newman & Noyes LLC Box 507 Portland ME 04112 990 2017-01-01 010496258 Maine Life Care Retirement Community Inc MAIN 2078838700 15 Piper Road Scarborough ME 04074 Robert Danielson Chair 2078838700 2018-06-28 1 Nicholas E Porto P01310283 2078792100 2018-06-28 2017 2022-09-23 18:48:47Z Piper Shores Robert Danielson 15 Piper Road Scarborough ME 04074 29743554 0 X www.pipershores.org X 1995 ME Continuing care retirement community 9 9 315 25 0 0 10272 23974 14734967 15175736 671173 3415201 0 0 15416412 18614911 64115 85179 0 0 7550682 8148050 0 0 0 9349368 9707327 16964165 17940556 -1547753 674355 105257911 109358739 122492815 124865998 -17234904 -15507259 X Maine Life Care Retirement Community (dba Piper Shores) offers a vibrant retirement living lifestyle that enriches residents by providing a continuum of the highest quality of care and service. Piper Shores will help all residents realize their optimum potential by cultivating a rich diversity of life experience that connects to innovative programs and services. 0 0 15475911 85179 15175736 Maine Life Care provides residents with a safe and secure home community, providing for independent living needs and continued health care services for the remainder of their lives. It consists of 160 independent living units, 40 independent living cottages, 50 assisted living units, 40 skilled nursing beds, and common areas. 15475911 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 63 0 1 315 1 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X Richard Ashley 2078838700 15 Piper Road Scarborough ME 04074 Thomas Amoroso Director 2.00 0.00 X 0 0 0 Susan Doliner Director (through Oct 2017) 2.00 0.00 X 0 0 0 Marilyn Gugliucci Director 2.00 0.00 X 0 0 0 Raymond Kelley Director 2.00 0.00 X 0 0 0 Gerard Kiladjian Director 2.00 0.00 X 0 0 0 Miriam Leonard Director (through Sep 2017) 2.00 0.00 X 0 0 0 Matthew O'Reilly Director (through Oct 2017) 2.00 0.00 X 0 0 0 Jane Pringle MD Director 2.00 0.00 X 0 0 0 Robert Danielson Chair 4.00 0.00 X X 0 0 0 Stephen Decastro Chair (through Oct 2017) 4.00 0.00 X X 0 0 0 Malcolm Rogers MD Vice Chair 4.00 0.00 X X 0 0 0 James Bennett Treasurer 4.00 0.00 X X 0 0 0 Karen Milliken Treasurer (through Oct 2017) 4.00 0.00 X X 0 0 0 Susan Guerette Secretary 4.00 0.00 X X 0 0 0 James Adamowicz CEO 40.00 0.00 X 284460 0 22969 Andrea Killiard Marketing Director 40.00 0.00 X 165348 0 14846 Richard Ashley Finance Director 40.00 0.00 X 151305 0 8380 Michelle McGarrity Food and Beverage Director 40.00 0.00 X 127077 0 19783 Brian Kenney Facilities Director 40.00 0.00 X 126304 0 19050 Linda Lamontagne Director of Nursing 40.00 0.00 X 127614 0 14102 982108 0 99130 7 0 1 0 Rehab Care Inc PO Box 503534 St Louis MO 63150 Physical Therapy 348937 Seabreeze Property Services 415 Presumpscot Street Portland ME 04101 Property Services 273560 Systems Engineering 120 Exchange Street Portland ME 04101 IT Services 230160 Seaside Painting 500 Flag Pond Road Saco ME 04072 Painting Services 214403 CCB Inc 65 Bradley Drive Westbrook ME 04092 Construction Services 195180 12 23974 23974 Resident services 541300 15078966 15078966 Miscellaneous Revenue 541300 96770 96770 15175736 716383 716383 13643534 183927 10912328 216315 2731206 -32388 2698818 2698818 18614911 15175736 0 3415201 85179 85179 307429 307429 6307173 5562936 744237 139273 110648 28625 913304 833160 80144 480871 416589 64282 35859 35859 42775 42775 104037 63859 40178 288676 288676 647131 13588 633543 2935686 2935686 49656 43892 5764 27032 17528 9504 786588 747259 39329 2885998 2741698 144300 117440 117440 Dining services 974928 974928 Health services 684899 684899 Housekeeping & laundry 87122 87122 Provider Tax 39500 39500 17940556 15475911 2464645 0 2380801 1779221 13664809 8498301 377075 390570 272086 207762 32780 46461 199284 203988 97572226 33784588 55715200 63787638 32327100 34106864 288776 337934 105257911 109358739 3732123 3122950 80868641 83467044 32781434 30765094 0 1710979 5110617 5799931 122492815 124865998 X -18091531 -16422037 856627 914778 -17234904 -15507259 105257911 109358739 674355 1053290 0 X X 0 1 X 1 0 X 41743 7145 4256 10272 23974 87390 15470178 13826063 14091772 14734967 15175736 73298716 15511921 13833208 14096028 14745239 15199710 73386106 0 0 0 73386106 441736 452648 562303 547642 716383 2720712 441736 452648 562303 547642 716383 2720712 15953657 14285856 14658331 15292881 15916093 76106818 0.96430 0.96560 0.03570 0.03300 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 887602 23974 33774 945350 874616 10272 2714 887602 883748 4256 -13388 874616 870131 7145 6472 883748 799962 41743 28426 870131 0.00000 0.00000 1.00000 0 0 2837480 2837480 86637992 27930079 58707913 7848318 5854509 1993809 248436 248436 63787638 Resident Deposits 5661331 Refunds in Process 138600 5799931 X 19700589 1053290 32388 1085678 18614911 0 18614911 17972944 32388 32388 17940556 0 17940556 Part V, Line 4: The endowment fund will be used to help the community with the loss of revenue from residents whose financial resources have eroded and to help stabilize resident monthly fees. Gifts to the endowment fund may also support projects and programs that might otherwise not be affordable. Part X, Line 2: The Community is exempt from federal income taxes under section 501(c)(3) of the Internal Revenue Code. Tax-exempt organizations could be required to record an obligation for income taxes as the result of a tax position they have historically taken on various tax exposure items including unrelated business income or tax status. Under guidance issued by the Financial Accounting Standards Board, assets and liabilities are established for uncertain tax positions taken or positions expected to be taken in income tax returns when such positions are judged to meet the "more likely than not" threshold, based upon the technical merits of the position. Estimated interest and penalties, if applicable, related to uncertain tax positions are included as a component of income tax expense. The Community has evaluated the positions taken on its filed tax returns. The Community's tax years from 2014 through 2017 are open and subject to examination. Part XI, Line 2d - Other Adjustments: Loss on Sale of Fixed Assets 32,388. Part XII, Line 2d - Other Adjustments: Loss on Sale of Fixed Assets 32,388. 1 Financial Hardship Assistance 2 85179 Residency Fees Billed Reduction/Write Off of Monthly Residency Fees Part I, Line 2: Grants are provided in the form of a reduction or write off of residency fees for residents of Maine Life Care Retirement Community who are experiencing proven financial hardship. X X X X 0 0 0 0 0 0 0 1 0 James Adamowicz CEO 254460 0 30000 0 0 0 8799 0 14170 0 307429 0 0 0 Andrea Killiard Marketing Director 150626 0 14722 0 0 0 6614 0 8232 0 180194 0 0 0 Richard Ashley Finance Director 129937 0 21368 0 0 0 6052 0 2328 0 159685 0 0 0 Part I, Line 7 The Organization has a modest bonus program for the CEO and other senior management. One of the components of the program is actual financial performance compared to budgeted financial expectations. A Maine Health and Higher Education Facilities Authority Series 2015 010314384 2015-06-17 35000000 Construction of assisted living units; current refunding 2004 & 2012 bonds 0 0 0 A 35000000 196911 10000000 1 0 0 1 A 0 0 0 0 0 0 1 A 0 0 1 0 0 0 0 1 A 1 Form 990, Part VI, Section B, line 11b The finance committee reviews and accepts the Form 990 and the board affairs committee reviews the governance section. Copies are distributed to the entire Board before filing. Form 990, Part VI, Section B, line 12c Officers & Directors complete a questionnaire and the CEO reviews the disclosures. The information is submitted to the Bureau of Insurance annually. Form 990, Part VI, Section B, line 15 The Board of Directors sets compensation for the CEO. The CEO sets compensation for top management based on industry data. Form 990, Part VI, Section C, line 19 Form 990 and other documents are provided upon request. Form 990 may also be viewed at www.guidestar.org. Form 990, Part XII, line 2c: The finance committee is responsible for overseeing the audit of the financial statements and selecting an independent auditor. The audit process has not changed from the prior year.