2025-09-30T09:44:08-05:00 2024-12-31 010523282 Berry Dunn McNeil & Parker LLC 2211 Congress St Portland ME 04102 990 2024-01-01 020280183 United Church of Christ Retirement Community Inc UNIT 6032245363 33 Christian Avenue Concord NH 03301 Tracy Judd VP/CFO 6032245363 2025-09-29 1 1 Joseph R Byrne P01289281 2077752387 2025-09-29 2024 2025-03-06 01:10:19Z Havenwood-Heritage Heights Michael Palmieri 33 Christian Avenue Concord NH 03301 51746473 0 1665 X www.hhhinfo.com X 1966 NH A faith-based retirement community providing service & care to people of varying backgrounds. 9 8 393 120 0 0 789227 487457 26404121 28538436 3861877 1338781 0 0 31055225 30364674 5323 3434 0 0 18271131 18792347 0 0 45768 11917472 11756788 30193926 30552569 861299 -187895 92946537 96850286 52050801 53710928 40895736 43139358 X See Schedule O.A faith-based not-for-profit retirement community, affiliated with the New Hampshire Conference of The United Church Of Christ, providing a continuum of services and long-term care, where people of varying backgrounds, 62 years and older, live together in an atmosphere of independence and dignity with a common bond of companionship and a sense of community. 0 0 26868153 3434 28538436 Housing programs and ancillary services: Continuing Care Retirement Community (CCRC) on two campuses serving 526 older adults. Services provided range from assisted living to skilled nursing home care to services for those who live independently. We are a CCRC enriched by the diversity of its members, living together in a spirit of mutual respect and acceptance. We offer services, facilities and programs that are meaningful, promote well-being, and meet the environmental, physical, emotional and spiritual needs of seniors age 62 and above. (Continued on Schedule O)An integral part of our faith-based mission is our charity care programs which provide financial support to those members who have outlived their financial resources through no fault of their own, thus affording them the opportunity to remain in the community regardless of their financial status. 26868153 1 1 0 1 0 0 0 0 1 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 68 0 1 393 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 8 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X X Tracy J Judd 6032291168 33 Christian Avenue Concord NH 03301 Michael Palmieri President/CEO 40.00 0.00 X X 327476 0 48803 Lisa Snow Wade Chairperson 1.00 0.00 X X 0 0 0 David Gill Vice Chairperson 1.00 0.00 X X 0 0 0 John Udaloy Treasurer 1.00 0.00 X X 0 0 0 Douglas S Hatfield Esq Ex-Officio Voting Member 1.00 0.00 X 0 0 0 Rev Gordon Rankin Ex-Officio Voting Member 1.00 0.00 X 0 0 0 Sean Skabo Secretary 1.00 0.00 X X 0 0 0 Anna Marie Sparks Director 1.00 0.00 X 0 0 0 Leo Van Beaver Director 1.00 0.00 X 0 0 0 Beth Slepian Past Secretary 1.00 0.00 X X 0 0 0 Tracy Judd VP/CFO 40.00 0.00 X 168884 0 6546 Rosario Bowen RN 40.00 0.00 X 149594 0 7311 Linda M Sheehy VP HR CHRO 40.00 0.00 X 139237 0 18076 Lisa Brissette LNA 40.00 0.00 X 136879 0 14904 Jane Poitras VP Heritage Heights Housing 40.00 0.00 X 134663 0 39680 Fran F Stimpson RN 40.00 0.00 X 131916 0 5544 1188649 0 140864 22 0 1 0 Career Staff Unlimited PO Box 121356 Dallas TX 753121356 Nursing Agency 760283 Cummins Snow Plowing Corporation 10 Depot St 1 Pittsfield NH 03263 Snow Removal/Roofing Services 411383 MAS Medical Staffing LLC 156 Harvey Road Londonderry NH 03503 Nursing Agency 156339 Lavalle Brensinger PLLC 155 Dow Street Suite 400 Manchester NH 03101 Architectural Services 148528 Systems Engineering 120 Exchange Street Suite 101 Portland ME 04101 IT Support Services 139234 7 409737 37118 40602 37118 487457 Health Services Revenue 623000 13411761 13411761 Retirement Community Revenue 623000 12076460 12076460 Entrance Fees 623000 2184147 2184147 Other Operating Revenues 623000 866068 754786 111282 28538436 447073 447073 22273507 21310927 70872 962580 -70872 891708 891708 30364674 28427154 0 1450063 3434 3434 551709 517443 34266 13696664 12469580 1220357 6727 287277 287277 3205827 2785682 418343 1802 1050870 928686 119717 2467 32772 32772 50484 50484 1262671 856646 406025 79921 79921 884337 784013 99818 506 1736776 1734293 2483 9782 7621 2161 1781991 1736099 45892 2793124 2645432 147692 374909 358077 16832 Food 948177 885489 62688 Miscellaneous Expense 659747 256021 403726 Provider Assessment Fee 637319 637319 Repairs and Maintenance 504778 492484 12294 30552569 26868153 3638648 45768 X 9716 8544 883318 2154054 834796 792706 123062 79644 425055 418414 97448617 55617630 34493888 41830987 24563088 17516222 259763 359251 31353851 33690464 92946537 96850286 2626315 3685818 13235515 13678219 31065216 27017326 7872 12350 3845000 7899807 1270883 1417408 52050801 53710928 X 10928904 10700629 29966832 32438729 40895736 43139358 92946537 96850286 X -187895 157198 2274319 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 2457 2457 0 Part II-B, Line 1: The Organization pays dues to local associations, a portion of which are attributable to lobbying activities. 0 1 X 29599729 8526 2990205 427332 91865 32079263 26258805 23424 4101718 687537 96681 29599729 29838911 12798 -3005016 489873 98015 26258805 25757557 13862 4702239 539955 94792 29838911 23140090 4240 3538277 804004 121046 25757557 0.32190 0.03960 0.63850 0 1 1 1461896 1461896 72542140 44915060 27627080 10883572 9348656 1534916 12561009 1353914 11207095 41830987 Resident Funds 6430 Due from Havenwood-Heritage Heights Trust Fund 123918 Interest in Havenwood-Heritage Heights Trust Fund 32064663 Cash Surrender Value of Life Insurance 265864 Resident Deposits 1081367 Interest Rate Swap Agreeements 148222 33690464 Lease Liabilities 346319 Resident Deposits 1071089 1417408 X 32796191 157198 2489532 2646730 30149461 215213 215213 30364674 30552569 0 30552569 0 30552569 Part IV, Line 2b: As a long-term care facility, Havenwood Heritage Heights is required by legislation to provide a trust account for residents' personal needs funds, for those residents in the health services center who may wish to use this service. Part V, Line 4: Restricted assets are intended for capital improvements to the Havenwood Heritage Heights community, funding for debt service, and general support of the community and its residents. Part X, Line 2: The Community is exempt from federal and state income taxes under Section 501(c)(3) of the Internal Revenue Code (IRC). It qualifies as a publicly supported organization under IRC Section 509 and, therefore, qualifies as a public charity. Accordingly, no provision for income taxes has been recorded in the accompanying financial statements. There was no unrelated business income tax for the years ended December 31, 2024 and 2023. The Community follows the guidance in the income tax accounting standard regarding the recognition and measurement of uncertain tax positions, if any. The guidance clarifies the accounting for uncertainty in income taxes recognized in an entity's financial statements. The guidance further prescribes recognition and measurement of tax positions taken or expected to be taken on a tax return that are not certain to be realized. The application of this standard has no impact on the Community's financial statements. Part XI, Line 2d - Other Adjustments: Chnage in Interest in Havenwood-Heritage Heights Trust Fund 2,489,532. Part XI, Line 4b - Other Adjustments: Loss on Interest Rate Swap Agreements 215,213. X X 0 0 0 0 0 0 0 1 0 Michael Palmieri President/CEO 280288 0 15000 0 32188 0 11592 0 37211 0 376279 0 0 0 Tracy Judd VP/CFO 163642 0 0 0 5242 0 6546 0 0 0 175430 0 0 0 Jane Poitras VP Heritage Heights Housing 133882 0 0 0 781 0 5930 0 33750 0 174343 0 0 0 Linda M Sheehy VP HR CHRO 132693 0 0 0 6544 0 5418 0 12658 0 157313 0 0 0 Rosario Bowen RN 140958 0 0 0 8636 0 4312 0 2999 0 156905 0 0 0 Lisa Brissette LNA 133031 0 0 0 3848 0 3199 0 11705 0 151783 0 0 0 Part I, Line 7 In 2024, Havenwood Heritage Heights Board of Directors unanimously approved a $15,000 bonus for Michael A. Palmieri, President/CEO, as a part of their annual formal evaluation process. This bonus was awarded in recognition of achievement of performance goals, and takes into consideration the overall financial position of the organization, innovative project and operational work, leadership of direct reports, and general industry standards. A New Hampshire Health and Education Facilities Authority 020279866 2009-09-16 15675000 Refund Series 2006B Bonds and pay costs of capital improvements 0 0 0 B New Hampshire Health and Education Facilities Authority 020279866 2013-11-01 17470000 Pay costs of capital improvements 0 0 0 C New Hampshire Health and Education Facilities Authority 020279866 2016-08-25 11006000 Refinance Series 2006 Bonds and pay costs of capital improvements 0 0 0 A 5134060 15675000 15675000 2009 1 0 1 1 B 3252001 17470000 312728 277380 16879892 2014 0 0 1 1 C 8471489 11006000 265544 2354997 8385459 2017 1 0 1 1 A 0 0 0 0 0.00200 0.00000 0.00200 0 0 1 B 0 0 0 0 0.00200 0.00000 0.00200 0 0 1 C 0 0 0 0 0.00200 0.00000 0.00200 0 0 1 A 1 1 1 Citizens Bank NA 17.000000000000 0 1 0 0 1 B 1 1 1 Citizens Bank NA 10.000000000000 0 0 0 0 1 C 1 1 1 Citizens Bank NA 0 1 0 0 1 A 1 B 1 C 1 Schedule K, Part I, Rows A and B: The Series 2009 and 2013 bonds are presented separately on the Schedule K to best align with the Organization's internal designation and tracking. For federal tax purposes, the bonds are technically one issue, Series 2013. The Series 2009 bonds were modified and reissued on 11/01/2013 with the Series 2013 bonds. Schedule K, Part IV, Line 4e: For Column A (2009 Bond Issue): The original hedge terminated on November 1, 2023 and a new hedge went into effect on May 1, 2024. For Column C (2016 Bond Issue): The Series 2016A hedge was terminated on May 17, 2024. X 1 37118 Market Price 0 0 1 0 Schedule M, Part I, Column (b): The number reported in this column is the number of contributors. Form 990, Part VI, Section A, line 1a The Executive Committee shall consist of the elected officers of the board: Chairperson, Vice Chairperson and all Committee Chairpersons. It shall also consist of the following officers: President, Treasurer and Secretary. The Executive Committee shall, in the interim between regularly scheduled board meetings, exercise all the powers of the board in accordance with the articles of agreement, by-laws and established policies of the Board of Directors as reflected in the minutes of their deliberations. The Executive Committee does not have the right to amend, repeal or otherwise change the governing documents and the Executive Committee cannot elect board members. Form 990, Part VI, Section A, line 6 The sole voting member is the New Hampshire Conference of The United Church of Christ (the member), a related public charity. Form 990, Part VI, Section A, line 7a The member shall elect the Board of Directors at their annual meetings for terms of three years. Term extensions are evaluated on an exception basis due to extenuating circumstances and are also approved by the member at their annual meeting. Form 990, Part VI, Section A, line 7b The member shall have the sole authority to adopt/approve any proposed amendments to the governing documents. Form 990, Part VI, Section B, line 11b The Form 990 is prepared by an independent accounting firm and then a draft is reviewed in detail by key financial services employees. The final Form 990 is distributed to the full Board of Directors prior to filing with the Internal Revenue Service. Form 990, Part VI, Section B, line 12c Any potential or actual conflict is required to be disclosed to the board immediately upon discovery. Any potential conflicts of interest are disclosed and reviewed at board meetings, or are disclosed on an individual basis to the chairperson and President/CEO. In addition, routine review of business transactions by senior management staff helps to ensure that potential conflicts of interest are identified and issues resolved. The Board of Directors determine if a potential conflict is an actual conflict. If a conflict were to arise, the person in conflict would at minimum recuse themselves from any deliberation or vote related to the matter in conflict. Form 990, Part VI, Section B, line 15 The President/CEO's compensation is reviewed and approved on an annual basis by the Board of Directors. As part of the deliberation process, the Board reviews industry salary information obtained from LeadingAge as well as recent compensation surveys for benchmark statistics. The Board of Directors has delegated its authority to the President/CEO to administer the day-to-day compensation decisions for exempt employees, including officers and key employees. The President/CEO reviews and approves the compensation for other officers and key employees on an annual basis. As part of this review, the President/CEO utilizes industry salary information from LeadingAge and the Council for Health and Human Service Ministries of the United Church of Christ (CHHSM). The President/CEO, on an "as needed basis" will consult with the Board of Directors regarding significant salary variances from industry standards. The deliberation and final decision related to compensation of officers and key employee is timely documented as part of applicable minutes and employment files. The process described here was last completed in 2024. Form 990, Part VI, Section C, line 19 Copies of the governing documents, conflict of interest policy, and financial statements are kept by the chairperson of the board of directors, the President/CEO and the Vice President/CFO. Copies of such documents will be distributed by these individuals as appropriate upon request. The audited financial statements are also posted on the organization's website: www.hhhinfo.com. Form 990, Part X, Line 10: Land, Buildings, and Equipment Section 1.263(a)-3(n) Election: United Church of Christ Retirement Community, Inc. 33 Christian Avenue Concord, NH 03301-6128 EIN: 02-0280183 United Church of Christ Retirement Community, Inc. is electing to capitalize repair and maintenance costs under Regulation Section 1.263(a)-3(n). Form 990, Part XI, line 9: Change in Interest in Havenwood-Heritage Heights Trust Fund 2,489,532. Loss on Interest Rate Swap Agreements -215,213. Havenwood-Heritage Heights Trust Fund 33 Christian Avenue Concord NH 03301 020366556 Support of United Church of Christ Retirement Community and Residents NH 501(c)(3) Line 12b, II N/A 0 New Hampshire Conference of the United Church of Christ 140 Sheep Davis Road Pembroke NH 03275 020222165 To worship, work, and pray with the congregations of its conference NH 501(c)(3) Line 1 N/A 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 1 0 1 0 0