2012-05-15T11:42:45-05:00 2011-06-30 SEILER LLP THREE LAGOON DRIVE STE 400 REDWOOD CITY CA 94065 990 2010-07-01 030594291 899 CHARLESTON 899C 6504333614 899 E CHARLESTON ROAD PALO ALTO CA 94303 KEVIN POTTER 4153342500 2012-05-11 true DEBRA K MCCALL 6503654646 2010 2016-02-24 21:20:13Z MOLDAW FAMILY RESIDENCES KEVIN POTTER CFO 899 E CHARLESTON ROAD PALO ALTO CA 94303 6423889 false X www.899charleston.org X 2006 CA TO PROVIDE RESIDENTIAL FACILITIES DESIGNATED TO MEET THE NEEDS OF AGED PERSONS, ADDRESS THE WELL BEING OF THE RESIDENTS, AND ADOPT POLICIES TO PROTECT THEM AGAINST FINANCIAL RISKS. 13 11 92 0 0 0 1577938 1202316 1893919 4748757 458798 472816 0 0 3930655 6423889 0 0 0 0 2149682 2973495 0 0 47897 14275845 16342844 16425527 19316339 -12494872 -12892450 183909659 188505131 188396702 197310978 -4487043 -8805847 X WE SUPPORT THE HIGHEST LEVEL OF INDEPENDENCE FOR EACH INDIVIDUAL BY PROMOTING THE PURSUIT OF A HEALTHFUL LIFESTYLE AND COMMUNITY INVOLVEMENT ON OUR MULTIGENERATIONAL CAMPUS. WE SEEK TO PRESERVE JEWISH COMMUNITY VALUES AND TRADITIONS, WHILE SERVING THE DIVERSE CULTURES & BACKGROUNDS OF THE ENTIRE PENINSULA REGION IN OFFERING A COMPLETELY UNIQUE RETIREMENT OPTION-"UNRETIREMENT!" false false 17684501 4748757 CONSTRUCTion AND OPERATIon of 193 MAINTENANCE-FREE APARTMENTS, INCLUDING 182 units FOR INDEPENDENT LIVING AND 11 units FOR SPECIALIZED MEMORY SUPPORT, IN BUILDINGS THROUGHOUT THE PEDESTRIAN-FRIENDLY TAUBE-KORET CAMPUS FOR JEWISH LIFE, THE FIRST AND ONLY JEWISH-SPONSORED SENIOR LIVING COMMUNITY IN THE region south of san francisco, california. THE GOAL OF THIS UNIQUE NEIGHBORHOOD DESIGN IS TO FOSTER OPPORTUNITIES FOR OLDER ADULTS TO ENGAGE WITH INDIVIDUALS OF ALL AGES AS THEY PARTICIPATE IN ACTIVITIES AND ORGANIZATIONS ON THE CAMPUS. AS A CONTINUING CARE RETIREMENT COMMUNITY, 899 CHARLESTON ALSO PROVIDEs FOR RESIDENTS' FUTURE HEALTHCARE, as NEEDED. PERSONALIZED ASSISTED LIVING SERVICES are AVAILABLE, AND THE COMMUNITY INCLUDEs 11 MEMORY SUPPORT RESIDENCES ON CAMPUS. RESIDENTS ARE ALSO AFFORDED PRIORITY ACCESS TO SKILLED NURSING CARE THROUGH AN AFFILIATION WITH THE HEBREW HOME FOR AGED DISABLED. During the year, Moldaw Family Residences provided independent living and MEMORY SUPPORT LIVING to elderly residents. There were 98 residents at June 30, 2011. 17684501 true true false false false false false false true true false false false true true true false false false false false false false false false false false false true true false true false false false false false false false true true true false false false true false false false false true 22 0 true 92 true false false false false false false false false false false X 13 11 false false true false false false false true true false false true true true true true true true true false CA X KEVIN POTTER CFO 4155622505 302 SILVER AVENUE SAN FRANCISCO CA 94112 X LARRY MARKS 2.0 X X 0 0 0 MICHAEL ADLER 2.0 X X 0 0 0 SHELLEY HEBERT 2.0 X 0 0 0 STUART KLEIN 2.0 X X 0 0 0 CAROL ROBERTS 2.0 X 0 0 0 LOREN SAXE 2.0 X 0 0 0 DAVID FRIEDMAN 2.0 X 0 0 0 DANIEL RUTH 20.0 X X 229265 8116 0 ELLEN BROWN MD 2.0 X 0 0 0 JOEL GOLDMAN 2.0 X 0 0 0 DANIEL OGUS 2.0 X 0 0 0 PAM FERRIS EFFECTIVE 42911 2.0 X 0 0 0 GEORGE PILLARI EFFECTIVE 33111 4.0 X 0 0 0 MARILYN ISRAEL 40.0 X 160000 0 28315 KEVIN POTTER 4.0 X 17261 7142 0 406526 15258 28315 2 false true true ALVAREZ MARSAL HEALTHCARE GRP LL 600 LEXINGTON AVE 5TH FLOOR NEW YORK NY 10022 MGMT & CONSULTING 464826 MANATT PHELPS PHILLIPS LLP 1841 Page Mill Rd SUITE 200 PALO ALTO CA 94304 LEGAL SERVICES 172251 2 1202316 29010 1202316 RESIDENT FEES 623000 3694540 3694540 ANCILLARY SERVICES 623000 215642 215642 AMORTIZATION OF ENTRANCE FEES 623000 838575 838575 4748757 472816 472816 0 0 0 0 0 0 0 6423889 4748757 472816 0 0 0 0 339445 339445 0 2128395 2085987 42408 15004 9091 5913 303329 253302 50027 187322 171911 15411 375000 375000 61523 61523 50930 50930 0 0 0 1005519 714658 243096 47765 0 27161 14406 12755 0 0 935896 935896 0 0 0 1834869 1772889 61980 0 4699381 4353066 346315 121288 121288 DEBT RESTRUCTURING FEES 3532587 3497261 35326 LOC & REMARKETING FEES 2088405 2067521 20884 MARKETING EXPENSES 332221 332221 SUPPLIES & EQUIPMENT 151533 126454 25079 RESIDENT EXPENSES 424406 414554 9852 702125 560284 141709 132 19316339 17684501 1583941 47897 431383 922971 25515428 34902198 2037579 1108829 606545 508465 1724771 2238800 617889 351675 147105049 7674363 143739546 139430686 9236518 9041507 183909659 188505131 1364368 889870 4228186 5643853 133025000 106525000 0 26500000 3842686 316010 45936462 57436245 188396702 197310978 X -10140131 -17558084 2663738 5462887 2989350 3289350 -4487043 -8805847 183909659 188505131 X -12892450 8573646 X false true true X false X 245722 1560350 1202316 3008388 245722 1560350 1202316 3008388 553830 2454558 517 458798 472816 932131 3940519 6577945 0.62290 0.51090 X FYE 06/30/09 CONTRIBUTIONS WERE REDUCED BY $5,528 AND FYE 06/30/10 CONTRIBUTIONS WERE REDUCED BY $17,588 DUE TO WRITE-OFF OF PLEDGES RECEIVABLE DURING FY 06/30/11. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2963406 300000 337260 3600666 3683919 -875000 154487 2963406 3683531 388 3683919 0.00000 0.91350 0.08650 false true true 13118538 13118538 127204365 6081084 121123281 2519841 901871 1617970 4262305 691408 3541887 139430686 0 REFUNDABLE DEPOSIT 1933114 REFUNDABLE ENTRANCE FEES 50104963 LOAN PAYABLE FROM JHSLF 5398168 57436245 6423889 19316339 -12892450 8573646 8573646 -4318804 15124705 8700816 8700816 6423889 6423889 19443509 127170 127170 19316339 19316339 ENDOWMENT FUNDS PART V PART V, LINE 4 THE INTENDED USE OF THE ENDOWMENT FUND IS TO PROVIDE SUPPORT FOR RESIDENTS OF THE 899 CHARLESTON PROJECT OR ACCEPTED APPLICANTS WHO CANNOT AFFORD A PORTION OF EITHER THE ENTRY FEE OR THE CONTINUING MONTHLY COSTS AND INCLUDES ACCUMULATED EARNINGS THEREON THAT HAVE NOT YET BEEN EXPENDED. AS REQUIRED BY ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. OTHER PART XI PART XI, LINE 8 1. UNREALIZED GAIN ON DERIVATIVE FINANCIAL INSTRUMENT $6,620,873. 2. CHANGE IN BENEFICIAL INTEREST IN JEWISH HOME & SENIOR LIVING FOUNDATION (JHSLF) 337,260. 3. DISCOUNT ON NOTES PAYABLE 1,822,773. 4. AMORTIZATION OF DISCOUNT ON NOTES PAYABLE (127,170.) 5. CHANGE IN ALLOWANCE FOR DOUBTFUL PLEDGES RECEIVABLES AND WRITE-OFF OF UNCOLLECTIBLE PLEDGES (80,090.) -------------- TOTAL $8,573,646. ============== OTHER PART XII PART XII, LINE 2d REVENUE INCLUDED ON FINANCIAL STATEMENTS BUT NOT ON FORM 990: 1. UNREALIZED GAIN ON DERIVATIVE FINANCIAL INSTRUMENT $6,620,873. 2. CHANGE IN BENEFICIAL INTEREST IN JEWISH HOME & SENIOR LIVING FOUNDATION (JHSLF) 337,260. 3. DISCOUNT ON NOTES PAYABLE 1,822,773. 4. CHANGE IN ALLOWANCE FOR DOUBTFUL PLEDGES RECEIVABLES AND WRITE-OFF OF UNCOLLECTIBLE PLEDGES (80,090.) -------------- TOTAL $8,700,816. ============== OTHER PART XIII PART XIII LINE 2d EXPENSES INCLUDED ON FINANCIAL STATEMENTS BUT NOT ON FORM 990: AMORTIZATION OF DISCOUNT ON NOTES PAYABLE $127,170. UNCERTAIN TAX POSITION, PART X PART X, LINE 2 THE FOUNDATION ADOPTED THE FASB ASC TOPIC 740-10 "INCOME TAXES" REGARDING ACCOUNTING FOR UNCERTAIN TAX POSITIONS. THIS ACCOUNTING STANDARD PROVIDES DETAILED GUIDANCE FOR FINANCIAL STATEMENT RECOGNITION, MEASUREMENT, AND DISCLOSURE OF UNCERTAIN TAX POSITIONS RECOGNIZED IN THE FOUNDATION'S FINANCIAL STATEMENTS. THE STANDARD REQUIRES AN ENTITY TO RECOGNIZE THE FINANCIAL STATEMENT IMPACT OF A TAX POSITION WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL NOT BE SUSTAINED UPON EXAMINATION. THE FOUNDATION HAS REVIEWED ITS TAX POSITIONS FOR ALL OPEN TAX YEARS AND BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR THE TAX POSITIONS TAKEN. THEREFORE, NO LIABILITY HAS BEEN RECORDED. FORM 990 PART I, LINE 5; PART V, LINE 2A; PART VI, LINE 15; PART VII, SECTION A, LINE 1A; AND PART IX, LINE 5, 7 AND 9 IN ACCORDANCE WITH A SERVICE AGREEMENT, THE ORGANIZATION CONTRACTS ITS EMPLOYEES FROM AN UNRELATED ORGANIZATION BASED ON THE NUMBER OF HOURS WORKED BY THESE INDIVIDUALS FOR THE ORGANIZATION. THE SERVICE AGREEMENT IS REVIEWED AND APPROVED BY THE BOARD OF TRUSTEES. X X X false false false false false false false false false MARILYN ISRAEL 160000 0 0 0 0 0 11762 0 16553 0 188315 0 0 0 KEVIN POTTER 17261 7142 0 0 0 0 0 0 0 0 17261 7142 0 0 DANIEL RUTH 229265 8116 0 0 0 0 0 0 0 0 229265 8116 0 0 Part II IN ACCORDANCE WITH A SERVICE AGREEMENT THE ORGANIZATION REIMBURSES HEBREW HOME FOR THE AGED DISABLED DBA JEWISH HOME SAN FRANCISCO FOR MANAGERIAL DUTIES PERFORMED BY ITS EMPLOYEES ON BEHALF OF THE ORGANIZATION. THE COMPENSATION REPORTED IN PART II FOR KEVIN POTTER AND DANIEL RUTH REPRESENTS THE AMOUNTS REIMBURSED UNDER THIS SERVICE AGREEMENT. ABAG FINANCE AUTHORITY FOR NONPROFIT CORPORATIONS 943130123 00037CLW8 2007-06-16 165805000 SEE PART V false true false 26500000 0 165805000 8978388 1874663 0 1982698 1466577 0 151387811 0 114863 2009 false false true true false false false false true 0.00000 0.00000 0.00000 true false true true SEE SCHEDULE O 9.75 true true true SEE SCHEDULE O 4.75 true false true TAX EXEMPT BONDS DESCRIPTION OF PURPOSE Part I, Row A, Column (F) TO FINANCE THE CONSTRUCTION AND EQUIPPING OF A NONPROFIT CONTINUING CARE RETIREMENT COMMUNITY. ALVAREZ MARSAL HEALTHCARE GRP LL TRUSTEE-MANAGING DIRECTOR 1102422 INDEPENDENT CONTRACTOR false PART V IN ACCORDANCE WITH POLICY THE NON-INDEPENDENT TRUSTEE RECUSES HIMSELF FROM ALL DISCUSSION AND VOTING RELATED TO ALVAREZ & MARSAL HEALTHCARE GRP, LLC. X 1 29010 Selling price 0 false true false FORM 990 REVIEW PROCESS FORM 990, PART VI, SECTION B, LINE 11 A COPY OF THE FORM 990 WAS PROVIDED TO ALL BOARD OF TRUSTEES PRIOR TO FILING. MANAGEMENT OF THE ORGANIZATION REVIEWS THE COMPLETED FORM 990 AND FOLLOWS UP WITH THE TAX RETURN PREPARATION FIRM TO ANSWER ANY QUESTIONS PRIOR TO FILING. POLICY MONITORING AND COMPLIANCE FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. EACH TRUSTEE AND PRINCIPAL OFFICER OF THE ORGANIZATION AND EACH MEMBER OF A COMMITTEE WITH BOARD-DELEGATED POWERS ANNUALLY SIGNS A CONFLICT OF INTEREST STATEMENT AND DISCLOSURE FORM. THE BOARD OF TRUSTEES REVIEWS AND DETERMINES IF ANY CONFLICTS OF INTEREST EXIST AND TAKES THE APPROPRIATE ACTION AS OUTLINED IN THE ORGANIZATION'S CONFLICT OF INTEREST POLICY. COMPENSATION REVIEW FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES REVIEWED AND APPROVED THE ANNUAL COMPENSATION PACKAGE FOR THE EXECUTIVE DIRECTOR BASED ON VARIOUS FACTORS SUCH AS: COMPENSATION DATA OBTAINED FROM VARIOUS SOURCES AND NON-PROFIT RESOURCES FOR SIMILARLY SITUATED ORGANIZATION IN THE AREA. THE BOARD OF TRUSTEES APPROVED THE ANNUAL BUDGET THAT INCLUDES SALARY EXPENSE. IN ACCORDANCE WITH A SERVICE AGREEMENT, THE ORGANIZATION CONTRACTS SOME OF ITS EMPLOYEES FROM AN UNRELATED ORGANIZATION BASED ON THE NUMBER OF HOURS WORKED BY THESE INDIVIDUALS FOR THE ORGANIZATION. THE SERVICE AGREEMENT IS REVIEWED AND APPROVED BY THE BOARD OF TRUSTEES. AVAILABILITY OF DOCUMENTS FOR PUBLIC INSPECTION FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S AUDITED FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON WRITTEN OR ORAL REQUEST. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE UPON REQUEST. RECONCILIATION OF OTHER CHANGES IN NET ASSETS FORM 990, PART XI, LINE 5 1. UNREALIZED GAIN ON DERIVATIVE FINANCIAL INSTRUMENT $6,620,873. 2. CHANGE IN BENEFICIAL INTEREST IN JEWISH HOME & SENIOR LIVING FOUNDATION (JHSLF) 337,260. 3. DISCOUNT ON NOTES PAYABLE 1,822,773. 4. AMORTIZATION OF DISCOUNT ON NOTES PAYABLE (127,170.) 5. CHANGE IN ALLOWANCE FOR DOUBTFUL PLEDGES RECEIVABLES AND WRITE-OFF OF UNCOLLECTIBLE PLEDGES (80,090.) -------------- TOTAL $8,573,646. ============== CHANGES TO GOVERNING DOCUMENTS PART VI, LINE 4 DURING THE TAX YEAR, THE ORGANIZATION AMENDED ITS BYLAWS. THE MAJORITY OF THE TRUSTEES SHALL BE APPOINTED BY THE JEWISH SENIOR LIVING GROUP (JSLG) WHICH IS A SUPPORTING CHARITY TO THE ORGANIZATION. JSLG MAY REMOVE ANY TRUSTEES APPOINTED BY IT. THE TERM OF EACH TRUSTEE SHALL BE EXTENDED TO TWO YEARS. THE BOARD SHALL ALSO PERMIT ONE RESIDENT OF THE MOLDAW FAMILY RESIDENCES AT 899 CHALESTON WHO IS ELECTED BY OTHER RESIDENTS TO ATTEND, SPEAK AND PARTICIPATE AS A NONVOTING RESIDENT REPRESENTATIVE IN ALL MEETINGS OF THE BOARD FOR THE PURPOSES OF COMPLYING WITH CALIFORNIA HEALTH & SAFETY CODE SECTION 1771.8. SCH K, PART IV, LINE 3b and 4b LINE 3B - MORGAN STANLEY CAPITAL SERVICES, INC LINE 4B - TRANSAMERICA LIFE INSURANCE COMPANY HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:LARRY MARKS TITLE:Co-Chair HOURS:1 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:MICHAEL ADLER TITLE:TREASURER/SECRETARY HOURS:1 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:DAVID FRIEDMAN TITLE:CHAIRMAN HOURS:2 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:DANIEL RUTH TITLE:EXECUTIVE VICE PRESIDENT HOURS:4 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:KEVIN POTTER TITLE:CFO HOURS:52 JEWISH SENIOR LIVING GROUP 302 SILVER AVENUE SAN FRANCISCO CA 94112 800291740 SEE PART VII CA 501(C)(3) 11A NA JEWISH HOME AND SENIOR LIVING FOUNDATION 302 SILVER AVENUE SAN FRANCISCO CA 94112 020724278 SEE PART VII CA 501(C)(3) 7 NA false false false false false false false false false false false true true true true false false false PART II, LINE 1, COL (B) JEWISH SENIOR LIVING GROUP PRIMARY ACTIVITY TO PROMOTE THE PROVISION OF JEWISH LIVING SERVICES, FACILITIES AND AGING SERVICES IN NORTHERN CALIFORNIA BY PROVIDING SERVICES DESIGNED TO ASSIST THE SUPPORTED CHARITIES IN THEIR OWN OPERATIONS AND ASSIST WITH DEVELOPING NEW SERVICES AND FACILITIES IN THE AFFILIATED NETWORK. PART II, LINE 2, COL (B) JEWISH HOME AND SENIOR LIVING FOUNDATION PRIMARY ACTIVITY TO PROMOTE AND SUPPORT THE PROVISION OF JEWISH AGING SERVICES, INCLUDING THE MISSION AND ACTIVITIES ASSOCIATED WITH THE JEWISH HOME OF SAN FRANCISCO AND NETWORK AFFILIATES.