2014-06-10T12:26:56-05:00 2013-05-31 593070669 MOORE STEPHENS LOVELACE PA 311 PARK PLACE BLVD SUITE 100 CLEARWATER FL 33759 990 2012-06-01 592120896 JOSEPH L MORSE GERIATRIC CENTER INC JOSE 5616875753 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 HONG CHAE 5616875753 2014-06-10 1 MELANIE A MCPEAK P01346034 7275314477 2012 2015-11-30 17:44:51Z KEITH A MYERS 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 43860810 0 X WWW.MORSELIFE.ORG/GERIATRIC X 1980 FL THE ORGANIZATION OWNS AND OPERATES A 280 BED SKILLED NURSING FACILITY. 63 62 724 165 0 0 156576 11368648 31441086 31042138 708662 714967 880964 735057 33187288 43860810 50000 18817 0 0 22104541 21303338 0 0 0 9478523 9487216 31633064 30809371 1554224 13051439 37493034 53192064 14963610 18047274 22529424 35144790 X THE ORGANIZATION OWNS AND OPERATES A 280 BED SKILLED NURSING FACILITY, PROVIDING CARE TO INDIGENT AND FRAIL SENIORS IN THE SURROUNDING AREA. THE ORGANIZATION IS DEDICATED TO ENHANCING SENIOR LIVING IN THE SPIRIT OF JEWISH TRADITION. 0 0 17960440 29932132 SKILLED NURSING - MORSE GERIATRIC CENTER IS A LICENSED 280 BED SKILLED NURSING FACILITY (SNF) THAT PROVIDES BOTH LONG TERM CARE AND SHORT TERM REHABILITATION SERVICES. THE LONG TERM SKILLED NURSING COMPONENT HELPS TO MAINTAIN AND RESTORE ITS RESIDENTS TO THEIR HIGHEST LEVEL OF FUNCTIONING. THE FACILITY IS DESIGNATED AS A "GOLD SEAL" FACILITY (AWARDED TO LESS THAN 2% OF FLORIDA'S SNF'S). THE SHORT TERM STAY (STS) PROGRAM AVERAGES 25% OF THE POPULATION AND THIS PROGRAM PROVIDES MEDICAL, NURSING, AND REHABILITATION SERVICES TO RESIDENTS WITH A GOAL OF RETURNING THEM TO A COMMUNITY SETTING. IN THE PAST YEAR, MORE THAN 921 RESIDENTS WERE RETURNED TO THE COMMUNITY. THE FACILITY IS CERTIFIED FOR MEDICAID AND MEDICARE FUNDING AND IS SURVEYED ANNUALLY BY THE AGENCY FOR HEALTH CARE ADMINISTRATION. 95479 0 GERIATRIC RESEARCH - SEE SCHEDULE O.GERIATRIC RESEARCH - THE INSTITUTE FOR GERIATRIC RESEARCH HAS A FORMAL ACADEMIC RELATIONSHIP WITH THE UNIVERSITY OF MIAMI SCHOOL OF GERIATRIC MEDICINE, FLORIDA ATLANTIC UNIVERSITY (FAU) AND NOVA SOUTHEASTERN UNIVERSITY. POST-DOCTORAL MEDICAL STUDENTS FROM THE UNIVERSITY OF MIAMI ROTATE THROUGH THE FACILITY EACH MONTH. MEDICAL STUDENTS FROM FAU, AND NOVA ARE PLACED AT THE MORSE GERIATRIC CAMPUS FOR CLINICAL ROTATIONS. THE INSTITUTE HAS FIELD WORK AND PRECEPTOR RELATIONS IN ALL THE ALLIED HEALTH PROFESSIONS INCLUDING NURSING, SOCIAL WORK, PHYSICAL THERAPY, OCCUPATIONAL THERAPY, NUTRITION, AND COUNSELING. THE INSTITUTE HAS COMPLETED ORIGINAL RESEARCH ON TOPICS RANGING FROM ENHANCING NUTRITION, REMOTE WIRELESS MONITORING, AND WORKFORCE RECRUITMENT AND RETENTION STRATEGIES. THE INSTITUTE HAS WRITTEN AND/OR COLLABORATED TO WRITE GRANTS DEMONSTRATING BEST PRACTICES WITH BOTH PRIVATE AND PUBLIC FOUNDATIONS. THE MORSELIFE LEARNING INSTITUTE WAS DEVELOPED TO PROVIDE TRAINING TO RESIDENTS, FAMILY MEMBERS, AND PROFESSIONALS. 191692 0 NURSING EDUCATION - THIS PROGRAM IS DESIGNED TO MEET BOTH THE MANDATED TRAINING NEEDS OF NURSES AND PROVIDE ENHANCED SKILLS OF BOTH DIRECT CARE AND MANAGEMENT STAFF. A MONTHLY CALENDAR OF EVENTS, TYPICALLY MORE THAN TEN CLASSES EACH MONTH, IS OFFERED TO NURSING AND GERIATRIC CENTER STAFF. THESE EDUCATIONAL SESSIONS MEET THE REQUIREMENTS FOR LICENSURE AND PROVIDE SPECIFIC LEARNING INSTRUCTION IN AREAS THAT NURSING MANAGEMENT HAS DETERMINED AS PRIORITY NEEDS FOR THE CARE OF THE FACILITY'S RESIDENTS. 8176934 18817 1845063 RELATED PARTY MANAGEMENT SERVICES AND OTHER PROGRAM SERVICES. 8176934 18817 1845063 26424545 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 160 0 1 724 1 0 0 0 0 0 0 0 0 0 0 X 63 62 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X KAREN DAVIDSON 5612096108 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 X MITCHELL RUBENSTEIN 2.00 X X 0 0 0 DAVID S MACK 2.00 X X 0 0 0 MARVIN MANES 2.00 X X 0 0 0 ALEC ENGELSTEIN 2.00 X X 0 0 0 SANDRA HAMMONDS 2.00 X X 0 0 0 CAROL COHEN 2.00 X X 0 0 0 SEYMOUR SPIRA 2.00 X 0 0 0 DOROTHY ADLER 2.00 X 0 0 0 ROY APPLE 2.00 X 0 0 0 DAVID AUERBACH 2.00 X 0 0 0 HARRIET BAIME 2.00 X 0 0 0 MARILYN BERMAN 2.00 X 0 0 0 STANLEY BRENNER 2.00 X 0 0 0 ANN COPE 2.00 X 0 0 0 STEVEN DAVIS 2.00 X 0 0 0 JACK DENHOLTZ 2.00 X 0 0 0 ELLEN FALK 2.00 X 0 0 0 GAIL FISCHER 2.00 X 0 0 0 LEE GOLDSTEIN 2.00 X 0 0 0 MONA JOFFE 2.00 X 0 0 0 MARILYN KATZ 2.00 X 0 0 0 SANDRA KRAKOFF 2.00 X 0 0 0 PHYLLIS KROCK 2.00 X 0 0 0 THEODORE LEOPOLD 2.00 X 0 0 0 SUZANNE LEVINE 2.00 X 0 0 0 MARTIN LIST 2.00 X 0 0 0 BRIAN LOWENTHAL 2.00 X 0 0 0 SHEILA ENGELSTEIN 2.00 X 0 0 0 MARTIN MEYERS 2.00 X 0 0 0 RALPH MILLIKEN 2.00 X 0 0 0 DAVID MOSCOW 2.00 X 0 0 0 SHERRY MURPHY 2.00 X 0 0 0 BEVERLY MYERS 2.00 X 0 0 0 PAMELA PODELL 2.00 X 0 0 0 ROBERT POSTAL 2.00 X 0 0 0 HEIDI REIFF 2.00 X 0 0 0 BEVERLY ROBBINS 2.00 X 0 0 0 ALAN SAGNER 2.00 X 0 0 0 JOSHUA SAXE 2.00 X 0 0 0 S LAWRENCE SCHLAGER 2.00 X 0 0 0 JOAN SIMMONS 2.00 X 0 0 0 MELVIN SIROW 2.00 X 0 0 0 ALFRED SLIFKA 2.00 X 0 0 0 ANDREA STARK 2.00 X 0 0 0 MICHAEL STEIN 2.00 X 0 0 0 CRAIG STORCH 2.00 X 0 0 0 KEITH MYERS 8.00 32.00 X X 536220 373019 61569 HEINZ EPPLER 2.00 X 0 0 0 ALAN GOLBORO 2.00 X 0 0 0 ELLIOT KLORFEIN 2.00 X 0 0 0 ROBERT LEVY 2.00 X 0 0 0 MONROE POTASH 2.00 X 0 0 0 CARL SHAPIRO 2.00 X 0 0 0 LINDA STOCH 2.00 X 0 0 0 BEATRICE BLOCH 2.00 X 0 0 0 NORMAN GOLDBLUM 2.00 X 0 0 0 STANLEY KATZ 2.00 X 0 0 0 ARTHUR LORING 2.00 X 0 0 0 NATHAN MONUS 2.00 X 0 0 0 HERBERT PLATZNER 2.00 X 0 0 0 TERRI SRIBERG 2.00 X 0 0 0 EDWIN LEVINE 2.00 X 0 0 0 DOROTHY LUDWIG 2.00 X 0 0 0 ERWIN BLONDER 2.00 X 0 0 0 ROBERT BERMAN 2.00 X 0 0 0 RYNA GREENBAUM 2.00 X 0 0 0 DAVID MARKIN 2.00 X 0 0 0 HONG CHAE 16.00 24.00 X 327913 0 17683 KARL DHANA MD 40.00 X 337517 0 20684 ALAN SADOWSKY 16.00 24.00 X 309016 0 22182 MARTIN KATZ 40.00 X 249238 0 19135 CARMEN SHELL 40.00 X 256952 0 20314 MARY ALICE PAPPAS 40.00 X 294581 0 20259 2311437 373019 181826 13 0 1 0 HOLLAND & KNIGHT LLP PO BOX 864084 ORLANDO FL 32886 LEGAL 230833 MOORE STEPHENS LOVELACE PA 1201 S ORLANDO AVENUE SUITE 400 WINTER PARK FL 32789 ACCOUNTING 196652 2 11358563 10085 11368648 NET RESIDENT SERVICE 623000 30225562 30225562 MANAGEMENT FEE INCOME 900099 816576 816576 31042138 714660 714660 307 0 307 307 307 OTHER REVENUE 623000 735057 735057 735057 43860810 31777195 0 714967 18817 18817 929996 929996 17565607 15988865 1576742 235791 155655 80136 1182476 1072819 109657 1389468 1246478 142990 74632 74632 70594 70594 6247 6247 208334 186304 22030 991487 491826 499661 2999 2999 897080 760709 136371 167835 79241 88594 176862 160365 16497 159865 135563 24302 1333980 1131193 202787 871991 468401 403590 SUPPLIES 2353174 2353174 FOOD 1437861 1437861 QUALITY ASSESSMENT FEE 310706 310706 BAD DEBT 275000 275000 148569 148569 30809371 26424545 4384826 0 1250 1100 2085913 2498257 2250148 3849032 18645482 16331948 107098 131286 641008 1054934 47945139 24151666 12671411 23793473 227605 360524 863119 5171510 37493034 53192064 2707595 5680282 40000 30000 11996 10996 11160000 11160000 1044019 1165996 14963610 18047274 X 22529424 35144790 22529424 35144790 37493034 53192064 X 13051439 -436073 X X 0 1 X 1 0 X 415548 303734 145889 156576 11368648 12390395 28906996 29931684 32409893 31441086 31042138 153731797 29322544 30235418 32555782 31597662 42410786 166122192 0 0 0 166122192 699621 491101 650688 708662 714660 3264732 699621 491101 650688 708662 714660 3264732 693162 578539 602977 880964 735057 3490699 30715327 31305058 33809447 33187288 43860503 172877623 0.96090 0.95560 0.01890 0.02030 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 129789 129789 25597073 15673750 9923323 6194403 5144079 1050324 16023874 3333837 12690037 23793473 DUE FROM AFFILIATES 388465 BOND ISSUANCE COSTS 49293 ASSETS WHOSE USE IS LIMITED 4733752 5171510 RESERVE FOR WORKERS' COMPENSATION CLAIMS 253107 INTEREST PAYABLE 14402 DUE TO INTERMEDIARIES 244000 457(B) PLAN LIABILITY 360524 FAIR VALUE OF INTEREST RATE SWAP 293963 1165996 43405920 -454890 -454890 43860810 0 43860810 30790554 -18817 -18817 30809371 0 30809371 PART XI, LINE 2D - OTHER ADJUSTMENTS: DONATION EXPENSES -18,817. CHANGE IN FV OF INTEREST RATE SWAP -293,963. LOSS ON EXTINGUISHMENT OF BONDS PAYABLE -142,110. PART XII, LINE 2D - OTHER ADJUSTMENTS: DONATION EXPENSES -18,817. 1 LEADING AGE INNOVATIONS FUND 2519 CONNECTICUT AVENUE NW WASHINGTON DC 20008 136213525 501(C)(3) 15000 GENERAL SUPPORT 1 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE ORGANIZATION DOES NOT HAVE A FORMAL PROCEDURE FOR MONITORING THE USE OF GRANT FUNDS. X X X X X 0 1 0 0 0 1 1 0 0 KEITH MYERS 254096 373019 210601 0 71523 0 40000 0 21569 0 597789 373019 0 0 HONG CHAE 301009 0 0 0 26904 0 0 0 17683 0 345596 0 0 0 KARL DHANA MD 336941 0 0 0 576 0 9112 0 11572 0 358201 0 0 0 ALAN SADOWSKY 306402 0 0 0 2614 0 8021 0 14161 0 331198 0 0 0 MARTIN KATZ 248051 0 0 0 1187 0 9329 0 9806 0 268373 0 0 0 CARMEN SHELL 255130 0 0 0 1822 0 9117 0 11197 0 277266 0 0 0 MARY ALICE PAPPAS 287688 0 0 0 6893 0 19233 0 1026 0 314840 0 0 0 PART I, LINE 4B MORSELIFE, INC. MAINTAINS TWO NONQUALIFIED EMPLOYEE DEFERRED COMPENSATION PLANS OPEN TO CERTAIN KEY EMPLOYEES UNDER INTERNAL REVENUE CODE 457(B) AND SECTION 457(F) (COLLECTIVELY, THE 457 PLANS). THE 457 PLANS PROVIDE, AMONG OTHER THINGS, FOR VOLUNTARY CONTRIBUTIONS TO BE MADE BY ELIGIBLE PARTICIPANTS. THESE FUNDS REMAIN THE PROPERTY OF MORSELIFE, INC. AND SUBSIDIARIES. MORSELIFE, INC. AND SUBSIDIARIES HAVE A FIDUCIARY DUTY OF ACCOUNTABILITY FOR THESE FUNDS. KEY EXECUTIVE, KEITH MYERS, PARTICIPATES IN THE DEFERRED COMPENSATION PLAN UNDER IRC SEC. 457(F). JOSEPH L. MORSE GERIATRIC CENTER, INC. MADE CONTRIBUTIONS ON BEHALF OF KEITH MYERS TO THE PLAN IN THE AMOUNT OF $40,000 FOR THE YEAR ENDED MAY 31, 2013. JOSEPH L. MORSE GERIATRIC CENTER, INC. MADE CONTRIBUTIONS ON BEHALF OF THE FOLLOWING LISTED EMPLOYEES THAT PARTICIPATED IN THE DEFERRED COMPENSATION PLAN UNDER IRC SEC. 457(B). CHAE, HONG - 5,846. DHANA, KARL - 3,428. KATZ, MARTY - 5,194. MYERS, KEITH - 2,003. PAPPAS, MARY ALICE - 13,974. SADOWSKY, ALAN - 839. SHELL, CARMEN - 3,803. SADOWSKY, ALAN - 843. SHELL, CARMEN - 3,184. PART I, LINE 6 KEITH MYERS, PRESIDENT AND CEO, HAS AN INCENTIVE/BONUS CLAUSE IN HIS EMPLOYMENT AGREEMENT WITH MORSELIFE, INC. (A RELATED ORGANIZATION). A PALM BEACH COUNTY HEALTH FACILITIES AUTHORITY 521927505 2012-10-04 45800000 SEE SUPPLEMENTAL INFORMATION. 0 0 0 A 11160000 11160000 2015 1 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 0 1 0 0 0 0 A 1 PART I, LINE A, COLUMN (F) DESCRIPTION OF PURPOSE: ON OCTOBER 4, 2012, THE GROUP BORROWED $45,800,000 OF SERIES 2012A AND $30,000,000 OF SERIES 2012B REVENUE BONDS (COLLECTIVELY, THE "SERIES 2012 BONDS") THROUGH THE PALM BEACH COUNTY HEALTH FACILITIES AUTHORITY. THE PROCEEDS OF THE SERIES 2012 BONDS WERE USED TO (A) FINANCE A PORTION OF THE CONSTRUCTION COSTS FOR MORSE GERIATRIC'S SHORT-TERM REHABILITATION CENTER, (B) REFUND ALL OF THE THEN OUTSTANDING SERIES 2003 BONDS, AND (C) PAY THE COST OF ISSUANCE OF THE SERIES 2012 BONDS. THE SERIES 2012A BONDS PROVIDED THE NECESSARY FUNDS TO REFUND THE SERIES 2003 BONDS. THE SERIES 2012B BONDS ARE A CONSTRUCTION LINE-OF-CREDIT AGREEMENT AND UP TO $30,000,000 HAS BEEN MADE AVAILABLE TO THE GROUP. THE SERIES 2012B BONDS WILL BE USED TO FUND A PORTION OF THE CONSTRUCTION COSTS. AT MAY 31, 2013, THE GROUP HAD NOT DRAWN ON THE SERIES 2012B BONDS. SCHEDULE K, PART II, COLUMN A, LINE 3 ADDITIONAL INFORMATION RELATED TO BOND ISSUANCE: THE TOTAL PROCEEDS FOR SERIES 2012 BOND ISSUE ARE NOT IDENTICAL TO THE ISSUE PRICE LISTED IN PART I, COLUMN (E), THE DIFFERENCE IS $34,640,000 REPORTED ON THE TRADITION OF THE PALM BEACHES FINANCIALS. KEITH MYERS PRESIDENT/CEO PROMISSORY NOTE X 120000 92876 0 1 1 92876 FORM 990, PART VI, SECTION A, LINE 6 MORSELIFE, INC. IS THE SOLE MEMBER OF JOSEPH L. MORSE MORSE GERIATRIC CENTER, INC. FORM 990, PART VI, SECTION A, LINE 7A THE SOLE MEMBER, MORSELIFE, INC., SHALL ELECT BOARD MEMBERS AND AT ANY TIME IN ITS SOLE DISCRETION, REMOVE AND NAME A REPLACEMENT FOR ANY BOARD MEMBER. FORM 990, PART VI, SECTION A, LINE 7B MORSELIFE, INC. IS THE SOLE MEMBER OF JOSEPH L. MORSE GERIATRIC CENTER, INC. AND, AS SUCH, ELECTS ITS BOARD OF DIRECTORS AND HAS ULTIMATE VOTING AND VETO AUTHORITY OVER BOARD DECISIONS. FORM 990, PART VI, SECTION B, LINE 11 THE COMMITTEE, COMPOSED OF THE CHAIRPERSON OF THE BOARD OF DIRECTORS FROM EACH OF THE MORSELIFE RELATED ORGANIZATIONS AND THE SENIOR VICE PRESIDENT OF FINANCE, IS RESPONSIBLE FOR THE REVIEW OF THE FORM 990. THE CHAIRPERSON OF MORSELIFE, INC. IS THE CHAIRPERSON OF THE COMMITTEE. THIS COMMITTEE MEETS ONE TIME PER YEAR. THE COMMITTEE IS RESPONSIBLE FOR THE DETAILED REVIEW OF ALL FORMS 990 FILED BY THE MORSE RELATED ENTITIES. THE FORM 990 IS MADE AVAILABLE TO THE FULL BOARD OF DIRECTORS OF THE REPORTING ORGANIZATION. THE 990 IS ALSO AVAILABLE UPON REQUEST THROUGHOUT THE YEAR. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REQUIRES ALL BOARD MEMBERS TO SUBMIT A CONFLICT OF INTEREST STATEMENT ON AN ANNUAL BASIS. THE STATEMENTS, WHEN COMPLETED AND RETURNED, ARE REVIEWED BY THE PRESIDENT TO ENSURE THAT THERE ARE NO INADVERTENT CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 JOSEPH L. MORSE GERIATRIC CENTER, INC. IS AN ORGANIZATION CONTROLLED BY MORSELIFE, INC. MORSELIFE, INC.'S COMPENSATION COMMITTEE IS COMPRISED OF THE BOARD MEMBERS. THIS COMMITTEE IS RESPONSIBLE FOR THE SEARCH, SELECTION, CONTRACT NEGOTIATION, PERFORMANCE REVIEWS, BENEFITS, AND ANNUAL SALARY INCREASES OF THE PRESIDENT & CEO POSITION. THE INITIAL CONTRACT NEGOTIATIONS OF THE PRESIDENT & CEO POSITION WERE BASED ON THE COMMITTEE'S REVIEW OF SIMILAR ENTITIES COMPENSATION PACKAGES FOR THE TOP OFFICIAL BASED ON THOSE ENTITIES' PUBLISHED IRS FORM 990. IN ADDITION, THE COMPENSATION COMMITTEE SUBSCRIBES AND PARTICIPATES IN SEVERAL INDEPENDENT SALARY SURVEYS CONDUCTED BY NATIONAL ASSOCIATIONS & OTHER PROVIDER ENTITIES AND UTILIZES THE FINDINGS OF THESE SURVEYS TO ENSURE COMPARABILITY AND APPROPRIATENESS OF THE PRESIDENT/CEO COMPENSATION PACKAGE. THE COMMITTEE MEETS AT LEAST ANNUALLY TO CONDUCT A PERFORMANCE REVIEW OF THE PRESIDENT/CEO. PERFORMANCE IS BASED ON PREVIOUSLY ESTABLISHED METRICS AND BENCHMARKS AND THE ACHIEVEMENT OF THESE GOALS IS THE BASIS FOR FINANCIAL INCENTIVE, BONUS AND ANNUAL SALARY INCREASE. THE COMPENSATION COMMITTEE DOCUMENTS THEIR MEETINGS WITH WRITTEN MINUTES, AS WELL AS MEMOS TO THE SENIOR VICE PRESIDENT OF FINANCE, WITH INSTRUCTIONS REGARDING THE EXECUTIVE COMPENSATION. THE PRESIDENT & CEO OF THE ORGANIZATION IS RESPONSIBLE FOR THE COMPENSATION OF THE MEMBERS OF THE EXECUTIVE TEAM, INCLUDING THE SR. VICE PRESIDENTS AND CHIEF FINANCIAL OFFICER. ANNUAL INCREASES AND BASE SALARY AMOUNTS ARE COMPARED TO THE COMPENSATION PACKAGES FOR SIMILAR POSITIONS UTILIZING OTHER SIMILAR ENTITIES' PUBLISHED IRS FORM 990. IN ADDITION, INDEPENDENT SALARY SURVEYS CONDUCTED BY NATIONAL ASSOCIATIONS & OTHER PROVIDER ENTITIES ARE UTILIZED TO ENSURE COMPARABILITY AND APPROPRIATENESS. THE PRESIDENT & CEO REPORTS ON THE ANNUAL INCREASE, SALARY ADJUSTMENT, AND/OR CHANGE IN BENEFIT PACKAGE FOR THE EXECUTIVE TEAM MEMBERS TO THE COMPENSATION COMMITTEE MADE UP OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS FORM 990, PART XI, LINE 9 DURING 2013, THE GROUP REFINANCED THE SERIES 2003 BONDS WITH THE SERIES 2012 BONDS. AS A RESULT OF THE REFINANCING, THE UNAMORTIZED BALANCE OF DEFERRED FINANCINGS COSTS RELATED TO THE SERIES 2003 BONDS AND LETTER OF CREDIT FEES WAS WRITTEN OFF AND A LOSS ON THE EXTINGUISHMENT OF BONDS PAYABLE OF $142,110 WAS RECORDED FOR THE YEAR ENDED MAY 31, 2013. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: LOSS ON EXTINGUISHMENT OF BONDS PAYABLE -142,110. CHANGE IN FV OF INTEREST RATE SWAP -293,963. OVERSIGHT OF AUDIT AND SELECTION OF INDEPENDENT ACCOUNTANT FORM 990, PART XII, LINE 2C THE ORGANIZATION'S AUDIT, COMPLIANCE AND ETHICS COMMITTEE IS RESPONSIBLE FOR THE SELECTION, MONITORING AND EVALUATION OF AN INDEPENDENT ACCOUNTING FIRM AND OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS. THERE WAS NO CHANGE IN THIS PROCESS FROM THE PRIOR YEAR. MORSELIFE FOUNDATION INC 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 592774476 PROVIDES FUNDING TO AFFILIATED TAX-EXEMPT ENTITIES FL 501(C)(3) LINE 7 MORSELIFE INC 0 LOLA & SAUL KRAMER SENIOR SERVICES AGENCY INC 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 900730105 PROVIDES COMMUNITY BASED AND OTHER SERVICES TO SENIORS FL 501(C)(3) LINE 9 MORSELIFE INC 0 NEARLY NEW THRIFT SHOP OF MORSE GERIATRIC CENTER 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 592533256 RAISES FUNDS TO SUPPORT AFFILIATED TAX-EXEMPT ENTITIES FL 501(C)(3) LINE 11B, II MORSELIFE INC 0 MORSELIFE INC 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 650018299 PROVIDES HEALTH CARE, HOUSING AND SUPPORT SERVICES TO SENIORS FL 501(C)(3) LINE 11C, III-FI N/A 0 FRIENDS OF MORSELIFE INC 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 650329966 RAISES FUNDS TO SUPPORT AFFILIATED TAX-EXEMPT ENTITIES FL 501(C)(3) LINE 7 MORSELIFE INC 0 THE TRADITION OF THE PALM BEACHES INC 4920 LORING DRIVE WEST PALM BEACH FL 33417 650888855 OPERATES A SENIOR LIVING COMMUNITY WITH FULL HEALTH SERVICES FL 501(C)(3) LINE 9 MORSELIFE INC 0 MORSELIFE HOME CARE INC 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 592753822 PROVIDES ADULT DAY CARE, HOME HEALTH AND OTHER SERVICES TO SENIORS FL 501(C)(3) LINE 9 MORSELIFE INC 0 MORSELIFE THERAPY CORPORATION 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 800730376 PROVIDES THERAPY SERVICES TO SENIORS FL 501(C)(3) LINE 9 MORSELIFE HOME CARE INC 0 MORSELIFE CLINICAL STAFFING CORPORATION 4847 FRED GLADSTONE DRIVE WEST PALM BEACH FL 33417 900729778 PROVIDES HEALTHCARE STAFFING TO AGENCIES IN THE WEST PALM BEACH AREA FL MORSELIFE HOME CARE INC C 0 1 0 1 1 0 0 0 0 0 1 0 1 0 0 1 0 1 0 1