2013-11-15T13:31:27-06:00 2012-12-31 KPMG LLP 60 South Street Boston MA 02111 990 2012-01-01 030396397 ALTUS REALTY INC % RICHARD FRITZ ALTU 4017526000 10 CHARLES STREET Suite PROVIDENCE RI 029042208 GEORGE J BEDARD 2013-11-15 6179881000 2012 2016-03-07 17:11:31Z JOSEPH A NAGLE 10 CHARLES STREET PROVIDENCE RI 029042208 1708041 false X N/A X 2002 RI TITLE HOLDING COMPANY 15 12 0 780505 0 0 0 0 0 0 1879593 1708041 1879593 1708041 0 0 0 0 0 0 0 0 0 1657630 1703818 1657630 1703818 221963 4223 6234676 6007278 4566722 4288332 1667954 1718946 TITLE HOLDING COMPANY false false 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 OF DELTA DENTAL OF RHODE ISLAND. false false false false false false false false true false false false false false false true false false false false false false false false false false false true false false false false false false false false false false false true false false true X 0 0 0 true false false false false false false false false false false X 15 12 false false false false true true true true true false false true true true true true true true true false X RICHARD FRITZ 4017526000 10 CHARLES STREET PROVIDENCE RI 029042208 EDWARD ALMON 1.0 1.0 X 0 4500 0 FRED BUTLER 1.0 1.0 X 0 9000 0 A THOMAS CORREIA 1.0 1.0 X 0 8000 0 DAVID A DUFFY 1.0 1.0 X 0 7700 0 FRANCIS FLYNN 1.0 1.0 X 0 3000 0 ALMON C HALL 1.0 1.0 X 0 8500 0 EDWARD HANDY 1.0 1.0 X 0 7500 0 DONALD S IANNAZZI 1.0 1.0 X 0 5500 0 STEVEN ISSA 1.0 1.0 X 0 10000 0 JOSEPH MARCAURELE 1.0 1.0 X 0 9000 0 LINDA MCGOLDRICK 1.0 1.0 X 0 2500 0 JAMES MCMANUS 1.0 1.0 X 0 6500 0 WILLIAM A MEKRUT 1.0 1.0 X 0 17000 0 CYNTHIA REED 1.0 1.0 X 0 9500 0 EDWIN J SANTOS 1.0 1.0 X 0 10900 0 ALEC TAYLOR 1.0 1.0 X 0 7000 0 VANESSA TOLEDO-VICKERS 1.0 1.0 X 0 7500 0 JOSEPH A NAGLE 1.0 40.0 X 0 686073 139157 RICHARD A FRITZ 1.0 40.0 X 0 257555 52835 KATHRYN SHANLEY 1.0 40.0 X 0 234045 48673 GEORGE J BEDARD 1.0 40.0 X 0 137760 34022 MELISSA A GENNARI 1.0 32.0 X 0 96918 13159 THOMAS D CHASE 1.0 40.0 X 0 253723 47984 STEPHEN J SPERANDIO 1.0 40.0 X 0 252600 51556 ANGELO PEZZULLO 1.0 40.0 X 0 243486 49418 CARLOS SANCHEZ-FUENTES 1.0 40.0 X 0 219532 38674 JOSEPH R PERRONI 1.0 40.0 X 0 225639 42056 STEPHEN C TOMBS 1.0 40.0 X 0 148214 34761 ELLEN M HENDRIX 1.0 40.0 X 0 145153 36184 DUANE EASTER 1.0 40.0 X 0 123851 30619 PATRICIA M NORTH-MARTINO 1.0 40.0 X 0 116474 29626 STEFANI G GALLAGHER 1.0 40.0 X 0 118624 11743 0 3393247 660467 0 false true false 0 0 0 0 0 0 1708041 1708041 0 1708041 780505 927536 0 0 0 0 0 0 0 0 0 0 0 0 1708041 780505 927536 0 0 0 0 0 0 0 0 0 0 56700 9000 21840 0 0 0 0 0 0 0 0 498155 0 0 0 197446 0 373353 12987 MAINTENANCE & REPAIRS 216779 SECURITY EXPENSE 137764 JANITORIAL EXPENSE 85163 BUILDING SUPPLIES EXPENSE 27397 67234 1703818 189327 171449 0 0 0 0 0 0 0 0 0 0 0 0 0 0 172938 139044 8320659 2623874 5872411 5696785 0 0 0 0 0 0 0 0 0 0 6234676 6007278 2414222 2345832 0 0 0 0 0 0 0 0 0 0 2152500 1942500 0 0 0 0 4566722 4288332 X 0 0 0 0 1667954 1718946 1667954 1718946 6234676 6007278 X 4223 46769 X false true X true false 4410000 1220379 3189621 1792339 938899 853440 2118321 464597 1653724 5696785 X X X X false true false JOSEPH A NAGLE 0 510080 0 119621 0 56372 0 121347 0 17810 0 825230 0 0 RICHARD A FRITZ 0 228876 0 26499 0 2180 0 33126 0 19709 0 310390 0 0 KATHRYN SHANLEY 0 210953 0 20049 0 3043 0 30064 0 18609 0 282718 0 0 GEORGE J BEDARD 0 127012 0 9648 0 1100 0 16034 0 17988 0 171782 0 0 THOMAS D CHASE 0 226633 0 25951 0 1139 0 30775 0 17209 0 301707 0 0 STEPHEN J SPERANDIO 0 227924 0 21689 0 2987 0 32797 0 18759 0 304156 0 0 ANGELO PEZZULLO 0 207548 0 27941 0 7997 0 29609 0 19809 0 292904 0 0 CARLOS SANCHEZ-FUENTES 0 211549 0 7295 0 688 0 21465 0 17209 0 258206 0 0 JOSEPH R PERRONI 0 192672 0 26347 0 6620 0 24847 0 17209 0 267695 0 0 STEPHEN C TOMBS 0 137716 0 10219 0 279 0 17552 0 17209 0 182975 0 0 ELLEN M HENDRIX 0 132005 0 12741 0 407 0 16896 0 19288 0 181337 0 0 DUANE EASTER 0 110351 0 13168 0 332 0 13411 0 17208 0 154470 0 0 METHOD USED TO ESTABLISH COMPENSATION PART I, LINE 3 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 COMPENSATION USING COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, WRITTEN EMPLOYMENT CONTRACT AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE. FILING OF FORM 990-T FORM 990, PART V, QUESTION 3B ALTUS REALTY IS A TITLE HOLDING COMPANY UNDER IRC SECTION 501(C)(2) AND REPORTS UNRELATED BUSINESS INCOME ON A CONSOLIDATED FORM 990-T WITH DELTA DENTAL OF RHODE ISLAND, ITS PARENT. MEMBERS OF THE ORGANIZATION FORM 990, PART VI, SECTION A, QUESTION 6 THE ORGANIZATION HAS 78 CORPORATE MEMBERS. MEMBERS THAT MAY ELECT THE GOVERNING BODY FORM 990, PART VI, SECTION A, QUESTION 7A 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. DECISIONS OF THE GOVERNING BODY SUBJECT TO APPROVAL BY MEMBERS FORM 990, PART VI, SECTION A, QUESTION 7B 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 REVIEW PROCESS FORM 990, PART VI, SECTION B, QUESTION 11B THE ANNUAL FORM 990 IS PREPARED BY THE COMPANY'S FINANCE DEPARTMENT WITH INPUT FROM SENIOR MANAGEMENT. UPON COMPLETION OF THE PREPARATION OF THIS DRAFT, IT IS THEN SUPPLIED TO KPMG, OUR TAX CONSULTANTS AND EXTERNAL AUDITORS. KPMG WILL COMPLETE THEIR REVIEW WITH ANY NECESSARY MODIFICATIONS AND THIS REVISED DRAFT IS AGAIN REVIEWED BY THE CONTROLLER, CFO AND CEO AS NECESSARY. FORM 990 IS THEN SUPPLIED TO THE BOARD OF DIRECTORS BEFORE A COPY IS FILED WITH THE IRS. CONFLICT OF INTEREST POLICY FORM 990, PART VI, SECTION B, QUESTION 12C ALL EMPLOYEES, AS WELL AS ALL OFFICERS AND DIRECTORS, COMPLETE AN ANNUAL CONFLICT OF INTEREST QUESTIONNAIRE. THE COMPLETED FORMS FOR EMPLOYEES ARE REVIEWED BY THE HUMAN RESOURCE DEPARTMENT, THE CFO, AS WELL AS THE DIRECTOR OF COMPLIANCE. ANY AND ALL POTENTIAL CONFLICT ISSUES ARE ELEVATED IN THE REVIEW PROCESS TO THE CEO, EXTERNAL LEGAL COUNSEL AND THE BOARD OF DIRECTORS AS NECESSARY. THE BOARD MEMBERS COMPLETED FORMS ARE REVIEWED BY THE CEO AND EXTERNAL LEGAL COUNSEL. THE CEO'S COMPLETED FORM IS REVIEWED BY EXTERNAL LEGAL COUNSEL AND THE CHAIRMAN OF THE BOARD. ALL CONFLICTS ARE DISCUSSED AND ANY REQUIRED ACTIONS ARE IMMEDIATELY IMPLEMENTED IN ACCORDANCE WITH THE COMPANY'S DOCUMENTED CONFLICT OF INTEREST POLICY. SHOULD AN UNDISCLOSED CONFLICT COME TO LIGHT THEN IMMEDIATE AND APPROPRIATE ACTION IS ALSO TAKEN IN ACCORDANCE WITH THE COMPANY'S POLICIES. COMPENSATION POLICY FORM 990, PART VI, SECTION B, QUESTION 15 THE OFFICERS AND DIRECTORS OF THE ORGANIZATION ARE ALSO OFFICERS AND DIRECTORS OF DELTA DENTAL OF RHODE ISLAND, 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. PUBLIC DISCLOSURE FORM 990, PART VI, SECTION C, QUESTION 19 THE COMPANY'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. THE COMPANY'S CONFLICT OF INTEREST POLICY, AS WELL AS THE COMPANY'S AUDITED FINANCIAL STATEMENTS ARE ALSO AVAILABLE UPON REQUEST AT THE COMPANY'S HEADQUARTERS. ADDITIONALLY, ALL STATUTORY FILINGS COMPLETED BY THE COMPANY ARE AVAILABLE THROUGH THE INSURANCE DIVISION WITHIN THE RHODE ISLAND DEPARTMENT OF BUSINESS REGULATION. THE COMPANY'S FORM 990 IS ALSO POSTED ON WWW.GUIDESTAR.ORG. OTHER CHANGES IN NET ASSETS PART XI, LINE 9 INTEREST RATE SWAP ADJUSTMENT $46,769 DELTA DENTAL OF RHODE ISLAND 10 CHARLES STREET PROVIDENCE RI 02904 050296998 INSURANCE RI 501(C)(4) N/A NA false THE ALTUS GROUP INC 10 CHARLES STREET PROVIDENCE RI 029042208 050502610 INSURANCE RI DDRI C CORP 0 0 0.00000 false PARK ROW ASSOCIATES INC 10 CHARLES STREET PROVIDENCE RI 029042208 050476063 INSURANCE RI DDRI C CORP 0 0 0.00000 false false false false false true false false false true false false false false false false false false false