2012-09-25T08:28:08-05:00 2011-12-31 232932984 PARENTEBEARD LLC 1650 MARKET STREET SUITE 4500 PHILADELPHIA PA 19103 990 2011-01-01 210634485 THE EVERGREENS THEE 8564392030 309 BRIDGEBORO ROAD MOORESTOWN NJ 08057 REV DOUGLAS C HALVORSEN 8564392030 2012-09-20 1 JULIUS GREEN CPA P00350393 2159720701 2011 2016-02-24 21:20:13Z REV DOUGLAS C HALVORSEN 309 BRIDGEBORO ROAD MOORESTOWN NJ 08057 47874181 0 X WWW.EVERGREENS.ORG X 1919 NJ IN THE SPIRIT OF ITS EPISCOPAL TRADITION, IT IS THE EVERGREENS' MISSION TO ENHANCE THE INDIVIDUAL, SOCIAL, EMOTIONAL, SPIRITUAL AND PHYSICAL WELL-BEING OF ITS DIVERSE COMMUNITY. 15 13 313 103 0 0 695433 293340 20443654 21269975 1790739 753611 -2730 -3068 22927096 22313858 10260 8250 0 0 9441636 9533458 0 0 39201 11364051 11620212 20815947 21161920 2111149 1151938 102717979 110253712 81615589 88059035 21102390 22194677 X IN THE SPIRIT OF ITS EPISCOPAL TRADITION, IT IS THE EVERGREENS' MISSION TO ENHANCE THE INDIVIDUAL, SOCIAL, EMOTIONAL, SPIRITUAL AND PHYSICAL WELL-BEING OF ITS DIVERSE COMMUNITY. 0 0 18609585 8250 21269975 EXPENSES INCURRED IN PROVIDING A FULL CONTINUUM OF SERVICES TO ELDERLY INDIVIDUALS INCLUDING BUT NOT LIMITED TO RESIDENCE, DIETARY, INTELLECTUAL STIMULATION AND ACTIVITY, AND HEALTH CARE. ORGANIZATION'S COMMUNITY BENEFIT STATEMENT - IN 1919, THE EVERGREENS WAS FOUNDED IN BOUND BROOK, NJ AS A NONPROFIT RETIREMENT HOME THROUGH A GENEROUS GIFT TO THE EPISCOPAL DIOCESE OF NEW JERSEY BY THE HENRY LAMONTE FAMILY: A HOME ON A FIVE-ACRE SITE THAT ACCOMMODATED 15 RESIDENTS. WHEN THE EVERGREENS MOVED TO MOORESTOWN IN 1949, THE COMMUNITY EXPANDED SERVICES TO INCLUDE LONG-TERM NURSING CARE. THE NEW FACILITY CONSISTED OF 32 ACRES AND A LARGE HOME - NOW KNOWN AS MATTHEWS HALL, WHICH REMAINS AT THE CENTER OF THE COMMUNITY'S CAMPUS. THIS HOME WAS BUILT IN THE 1920S FOR THE JOHNSON FAMILY, FOUNDERS OF THE VICTOR TALKING MACHINE COMPANY, THE PREDECESSOR OF RCA. THE NEW FACILITY PROVIDED ROOMS FOR 20 RESIDENTS AND AN EIGHT-BED INFIRMARY. THROUGH THE YEARS, BUILDINGS HAVE BEEN ADDED, UPGRADED AND EXPANDED THROUGHOUT CAMPUS TO MAKE THE EVERGREENS COMMUNITY AS IT STANDS TODAY. IN 1990, THE EVERGREENS BECAME AN INDEPENDENT ENTITY; HOWEVER, IT CONTINUED TO MAINTAIN A CHAPEL AFFILIATED WITH THE EPISCOPAL DIOCESE OF NEW JERSEY. IN THE SAME YEAR, ITS TRADITION OF CARING MOVED TO YET ANOTHER LOGICAL LEVEL OF GROWTH - OFFERING ACTIVE OLDER ADULTS AN INDEPENDENT LIFESTYLE THROUGH THE CONSTRUCTION OF 200 INDEPENDENT LIVING UNITS (ILUS) AND OFFICIALLY BECOMING A CONTINUING CARE RETIREMENT COMMUNITY (CCRC). TO THIS DAY, THE CAMPUS CONTINUES TO GROW WITH THE COMMUNITY'S CAMPUS RENEWAL PROJECT. CULMINATING YEARS OF STRATEGIC PLANNING, THIS PROJECT CALLS FOR A MULTI-PHASE CONSTRUCTION AND RENOVATION PROJECT - WHICH BEGAN WITH THE COMPLETION OF THE RENOVATIONS TO THE COMMUNITY'S KITCHEN/DINING AREAS IN 2010, CONTINUES IN 2011 WITH THE CONSTRUCTION OF A NEW, STATE-OF-THE-ART HEALTH CARE CENTER, AND INTO THE FUTURE WITH PLANS FOR UPGRADES TO THE COMMUNITY'S RECREATIONAL ACTIVITIES/SERVICES SPACE AND AN ENTIRELY NEW INDEPENDENT-LIVING FACILITY.THE HALLMARK OF THE EVERGREENS ALWAYS WILL BE TO PROVIDE THE HIGHEST QUALITY SERVICE AND CARE TO RESIDENTS, ENSURING THAT RESIDENTS CAN ENJOY THEIR INDIVIDUAL LIFESTYLES WITH DIGNITY AND RESPECT IN THE MOST GRACIOUS OF ENVIRONMENTS. WITH THREE LIFESTYLE CHOICES WITHIN ONE COMMUNITY - INDEPENDENT LIVING, ASSISTED LIVING AND SKILLED NURSING CARE - RESIDENTS AT THE EVERGREENS ARE SECURE IN THE KNOWLEDGE THAT THEY WILL RECEIVE THE HIGHEST LEVEL OF QUALITY HEALTH CARE, REGARDLESS OF THEIR CHANGING NEEDS.THE EVERGREENS WORKS HARD TO PROVIDE THE HIGHEST QUALITY OF CARE TO ITS RESIDENTS AND HAS ACHIEVED THIS DISTINCTION CONSISTENTLY YEAR AFTER YEAR. THE COMMUNITY PRIDES ITSELF ON BEING ACCREDITED BY THE COMMISSION ON ACCREDITATION OF REHABILITATION FACILITIES (CARF), AN HONOR HELD BY A LIMITED NUMBER OF THE NATION'S TOP CCRC'S. IN 2011, THE EVERGREENS BEGAN THE PROCESS OF PREPARING FOR A REACCREDITATION SURVEY IN 2012. LIKEWISE, THE COMMUNITY HAS BEEN RECOGNIZED NUMEROUS TIMES BY CONSUMER REPORTERS IN ITS NURSING HOME MONITOR LIST. ADDITIONALLY, THE COMMUNITY HAS CONTINUED TO MAINTAIN THE HIGHEST POSSIBLE RATING - "FIVE STARS" - FROM THE FEDERAL CENTERS FOR MEDICARE & MEDICAID SERVICES FOR THE PAST FOUR QUARTERS, PLACING THE COMMUNITY ON AN "HONOR ROLL" LIST OF 39 FACILITIES OUT OF MORE THAN 15,000 ACROSS THE NATION TO ACHIEVE THIS RATING. ALONG WITH THIS TITLE, THE EVERGREENS HAS ALSO APPLIED FOR AND MET THEIR ADVISORY STANDARDS - AN OPTIONAL, VOLUNTARY MARK OF DISTINCTION FROM THE NEW JERSEY DEPARTMENT OF HEALTH AND SENIOR SERVICES AND FOR THE THIRD YEAR THESE STANDARDS HAVE BEEN MET CONSECUTIVELY (2009-2011).AMONG OTHER AWARDS AND RECOGNITION, THE EVERGREENS HAS BEEN NAMED BEST OF BURLINGTON COUNTY BY THE BURLINGTON COUNTY TIMES FOR MULTIPLE YEARS. THE PHILADELPHIA BUSINESS JOURNAL NAMED THE EVERGREENS ONE OF THE BEST PLACES TO WORK IN THE PHILADELPHIA REGION FOR THREE YEARS, IN 2007, 2008 AND 2010. 18609585 1 1 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 76 0 1 313 1 0 0 0 0 0 0 0 0 0 0 X 15 13 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NJ X GERALD I MAGID CFO 8564392030 309 BRIDGEBORO ROAD MOORESTOWN NJ 08057 X WILLIAM H STONE JR 3.00 X X 0 0 0 GERALD S LORD 3.00 X X 0 0 0 ROBERT Y GARRETT III 3.00 X X 0 0 0 SHARON J BISHOP CPAABVCFF 3.00 X 0 0 0 RT REV GEORGE E COUNCELL 3.00 X 0 0 0 PETER A GOLD ESQ 3.00 X 0 0 0 SEAN M HIGGINS SR 3.00 X 0 0 0 ROBERT W HOEY 3.00 X 0 0 0 ELIZABETH G LITTEN ESQ 3.00 X 0 0 0 RICHARD P MEEHAN 3.00 X 0 0 0 JOHN S PHILLIPS 3.00 X 0 0 0 FREDERICK J ROHLOFF ESQ 3.00 X 0 0 0 GEORGE D SOWA 3.00 X 0 0 0 HERBERT D THOMAS 3.00 X 0 0 0 REV DOUGLAS C HALVORSEN 40.00 X X 283606 0 78753 GERALD I MAGID 40.00 X 158064 0 25648 DAKIA MCMILLIAN 40.00 X 125250 0 23374 CHRISTOPHER KENNEALLY 40.00 X 105194 0 22286 672114 0 150061 4 0 1 0 WOHLSEN CONSTRUCTION COMPANY PO BOX 4612 LANCASTER PA 17604 CONSTRUCTION 13050035 MORRISON MANAGEMENT SPECIALIST 1730 WALTON STREET BLUE BELL PA 19422 FOOD MANAGEMENT 1498396 EVENTUS STRATEGIC PARTNERS 1600 MARKET ST SUITE 1702 PHILADELPHIA PA 19103 CONSULTANTS 516836 T-N-T PAINTERS INC 213 BRIDGEBORO ROAD MOORESTOWN NJ 08057 RENOVATIONS 283020 MARTINO & BINZER INC 270 FARMINGTON AVE STE 128 FARMINGTON CT 06032 MARKETING CONSULTANT 263576 14 11318 282022 2690 293340 NET RESIDENT SERVICE R 623000 16466043 16466043 AMORTIZATION OF ENTRAN 623000 3556032 3556032 ANCILLARY SERVICES 623000 1247900 1247900 21269975 1292803 1292803 25018063 25437588 119667 -419525 -119667 -539192 -539192 0 11318 3068 -3068 -3068 22313858 21269975 0 750543 8250 8250 694695 219510 447882 27303 6488447 5573481 907030 7936 366875 318709 46766 1400 1318851 1140978 177092 781 664590 563296 99513 1781 110687 110687 49506 49506 743 743 152557 152557 1169317 1133104 36213 415410 415410 512433 406586 105847 194494 36194 158300 1527729 1517567 10162 28702 22984 5718 105858 32532 73326 2547976 2547976 2820188 2820188 212137 163642 48495 FOOD 861016 861016 REPAIRS & MAINTENANCE 434508 433869 639 DRUGS 164709 164709 MEDICAL SUPPLIES 136230 136230 176012 93354 82658 21161920 18609585 2513134 39201 4562 589042 447717 360767 333200 223715 48399 42242 208920 196055 64337777 31313948 34447083 33023829 47446430 41675830 19781668 34142232 102717979 110253712 3569048 3502973 17688751 15888818 42760548 42828378 2325000 9522048 15272242 16316818 81615589 88059035 X 18126646 19389571 2170358 2033521 805386 771585 21102390 22194677 102717979 110253712 X 1151938 -59651 X X 0 1 1 X 0 X 510414 653534 649596 695433 293340 2802317 18395305 18647565 19109654 20443654 21269975 97866153 18905719 19301099 19759250 21139087 21563315 100668470 15102 9989 12699 20470 22476 80736 0 15102 9989 12699 20470 22476 80736 100587734 1652753 1490684 1659459 1266762 1292803 7362461 1652753 1490684 1659459 1266762 1292803 7362461 20558472 20791783 21418709 22405849 22856118 108030931 0.93110 0.92700 0.06820 0.07220 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 743 743 0 EXPLANATION OF OTHER LOBBYING ACTIVITIES: PART II-B, LINE 1I: THE ORGANIZATION PAYS DUES TO LEADINGAGE NEW JERSEY, A STATE ASSOCIATION OF HOMES AND SERVICES FOR THE AGING. A PORTION OF THE ORGANIZATION'S DUES ARE USED FOR LOBBYING PURPOSES. THE $743 REPORTED AS LOBBYING EXPENDITURES IS THE PORTION OF DUES THAT WERE USED FOR LOBBYING PURPOSES (5.3% OF THE ORGANIZATION'S TOTAL DUES). 2975744 87805 -28774 229669 2805106 2721216 280034 110391 135897 2975744 2327486 355360 389991 351621 2721216 4863477 245737 -957507 1824221 2327486 0.00000 0.28000 0.72000 0 0 2769591 635831 3405422 467816 44336560 22548970 22255406 10862308 5158842 5703466 4996883 3448333 1548550 268788 157803 110985 33023829 ESCROW DEPOSITS 117990 RESIDENT TRUST FUNDS 6453 DEFERRED FINANCING COSTS, NET 1137589 BENEFICIAL INTEREST IN PERPETUAL TRUSTS 681585 INTEREST IN CHARITABLE REMAINDER TRUSTS 2029463 CONSTRUCTION IN PROGRESS 30169152 34142232 ACCRUED INTEREST PAYABLE 1253672 RESIDENT TRUST FUNDS 6453 REFUNDABLE ENTRANCE FEES AND DEPOSITS 15056693 16316818 22313858 21161920 1151938 277588 -337239 -59651 1092287 22104718 277588 -489796 -212208 22316926 -3068 -3068 22313858 21012431 3068 3068 21009363 152557 152557 21161920 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: ENDOWMENT FUNDS ARE TO BE USED CONSISTENT WITH THE DONOR'S INTENT AND RESTRICTIONS AND IN THE FURTHERANCE OF THE ORGANIZATION'S CHARITABLE TAX-EXEMPT PURPOSES. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE EVERGREENS ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES USING A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD IS MET. MANAGEMENT DETERMINED THERE WERE NO TAX UNCERTAINTIES THAT MET THE RECOGNITION THRESHOLD IN 2011 AND 2010. PART XI, LINE 8 - OTHER ADJUSTMENTS: OTHER-THAN-TEMPORARY IMPAIRMENT ADJUSTMENT TO INVESTMENTS -18,677. VALUATION LOSS, BENEFICIAL INTEREST IN PERPETUAL TRUSTS -33,801. WRITE-OFF OF CONSTRUCTION-IN-PROGRESS -519,767. GAIN FROM SALE OF OTHER-THAN-TEMPORARY INVESTMENTS 235,006. TOTAL TO SCHEDULE D, PART XI, LINE 8: -337,239. PART XII, LINE 2D - OTHER ADJUSTMENTS: INVESTMENT FEES -152,557. OTHER-THAN-TEMPORARY IMPAIRMENT ADJUSTMENT TO INVESTMENTS -18,677. VALUATION LOSS, BENEFICIAL INTEREST IN PERPETUAL TRUSTS -33,801. WRITE-OFF OF CONSTRUCTION-IN-PROGRESS -519,767. AIN FROM SALE OF OTHER-THAN-TEMPORARY INVESTMENTS 235,006. PART XII, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSES -3,068. PART XIII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSES 3,068. PART XIII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT FEES 152,557. 0 YOUNG MEN'S CHRISTIAN ASSOCIATION OF BURLINGTON COUNTY NEW JERSEY 59 CENTERTON ROAD MT LAUREL NJ 08054 210634482 501(C)(3) 8250 0 SUPPORT OF YMCA'S STRONG KIDS CAMPAIGN 1 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE ORGANIZATION DOES NOT ROUTINELY PROVIDE GRANTS TO OTHER ORGANIZATIONS, WITH THE EXCEPTION OF ANOTHER TAX-EXEMPT ORGANIZATION. X 1 1 X X X X 0 0 0 0 0 0 0 1 0 REV DOUGLAS C HALVORSEN 207372 0 40000 0 36234 0 71055 0 7698 0 362359 0 0 0 GERALD I MAGID 154739 0 2000 0 1325 0 13829 0 11819 0 183712 0 0 0 PART I, LINE 1A PRESIDENT & CEO, REV. DOUGLAS C. HALVORSEN, IS AN ORDAINED CLERGY AND RECEIVES A CLERGY HOUSING ALLOWANCE OF $35,000 UNDER INTERNAL REVENUE CODE SECTION 107 WHICH IS SUBJECT TO SOCIAL SECURITY AND MEDICARE TAX. PART I, LINE 7 THE PRESIDENT & CEO IS AWARDED A BONUS EACH YEAR. AN INDEPENDENT COMPENSATION COMMITTEE OF THE BOARD REVIEWS A THIRD PARTY SALARY SURVEY TO DETERMINE THE AMOUNT OF THE BONUS TO BE AWARDED. THE AMOUNT OF THE BONUS IS NOT FIXED. VP OF FINANCE & CFO GERALD I. MAGID AND VP OF HEALTH SERVICES DAKIA MCMILLIAN ALSO RECEIVED NON-FIXED BONUSES IN 2011. THE PRESIDENT & CEO DETERMINES THE AMOUNT OF THE BONUS, IF ANY, TO BE AWARDED. THE BURLINGTON COUNTY BRIDGE COMMISSION 216000402 121649AA5 2007-10-04 44575000 CAPITAL ADDITIONS AND REFUNDING 0 0 0 44345885 1529088 29241175 811237 2034900 10729485 2011 1 0 1 1 0 0 1 0 0 0.00000 0.00000 0.00000 1 0 0 0 0 0 1 SCHEDULE K, PART II, LINE 3, ISSUE A THE ISSUE PRICE REPORTED IN PART I, COLUMN (E) FOR ISSUE A IS $44,575,000. THE TOTAL AMOUNT OF PROCEEDS REPORTED IN PART II, LINE 3 IS $44,345,885. THE DIFFERENCE OF $229,115 IS THE ORIGINAL ISSUE DISCOUNT. SCHEDULE K, PART V ALTHOUGH THE ORGANIZATION DOES NOT CURRENTLY HAVE SUCH WRITTEN PROCEDURES IN PLACE, IT IS CONSIDERING ADOPTING A WRITTEN POLICY IN THE FUTURE. HERBERT D THOMAS TRUSTEE 90411 BOARD MEMBER HERB THOMAS IS A FAMILY MEMBER OF AN OWNER OF THE VENDOR THOMAS BOYD COMMUNICATIONS. THOMAS BOYD COMMUNICATIONS PROVIDED PUBLIC RELATIONS SERVICES TO THE EVERGREENS. THE ORGANIZATION HAS A CONFLICT OF INTEREST POLICY, AND ALL TRANSACTIONS ARE CONDUCTED AT ARM'S LENGTH. 0 FORM 990, PART VI, SECTION A, LINE 7A ARTICLE 3.02 OF THE BYLAWS PROVIDE THAT THREE TRUSTEES MAY BE APPOINTED BY THE BISHOP OF THE DIOCESE OF NEW JERSEY. FORM 990, PART VI, SECTION B, LINE 11 THE ORGANIZATION ENGAGED A PROFESSIONAL CPA FIRM WITH EXPERIENCE IN NOT-FOR-PROFIT TAX RETURN PREPARATION. THE FIRM WORKED CLOSELY WITH THE ORGANIZATION'S FINANCE PERSONNEL TO OBTAIN THE INFORMATION NEEDED IN ORDER TO PREPARE A COMPLETE AND ACCURATE TAX RETURN. THE FIRM PREPARED A DRAFT FORM 990 AND FURNISHED IT TO THE ORGANIZATION'S FINANCE PERSONNEL FOR REVIEW. THE ORGANIZATION'S FINANCE PERSONNEL REVIEWED THE DRAFT FORM 990 AND DISCUSSED QUESTIONS AND COMMENTS WITH THE CPA FIRM. CHANGES WERE MADE TO THE DRAFT FORM 990 WHERE NECESSARY AND A FINAL DRAFT WAS FURNISHED BY THE CPA FIRM TO THE ORGANIZATION'S FINANCE PERSONNEL FOR FINAL REVIEW AND APPROVAL. THE PRESIDENT/CEO OF THE ORGANIZATION REVIEWS THE FINAL DRAFT BEFORE PRESENTING THE FORM 990 TO THE AUDIT COMMITTEE. THE BOARD OF TRUSTEES HAS DELEGATED THE AUDIT COMMITTEE TO OVERSEE, REVIEW AND APPROVE THE FORM 990 PROCESS. ONCE THE AUDIT COMMITTEE REVIEWED AND APPROVED THE DOCUMENT, A COPY WAS SENT TO EACH MEMBER OF THE BOARD OF TRUSTEES EITHER ELECTRONICALLY OR BY COURIER PRIOR TO FILING THE DOCUMENT. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REGULARLY MONITORS AND ENFORCES COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY. ANNUALLY ALL MEMBERS OF THE BOARD OF TRUSTEES, OFFICERS, SENIOR MANAGEMENT, AND OTHER KEY PERSONNEL ARE REQUIRED TO REVIEW THE EXISTING CONFLICT OF INTEREST POLICY AND COMPLETE A QUESTIONNAIRE. IT IS A BOARD MEMBER'S RESPONSIBILITY TO NOTIFY THE PRESIDENT/CEO OF ANY CHANGES THAT WOULD CREATE A CONFLICT DURING THE YEAR. THE COMPLETED QUESTIONNAIRES ARE RETURNED TO THE ORGANIZATION'S PRESIDENT/CEO FOR REVIEW ANNUALLY. IF A CONFLICT OF INTEREST EXISTS, IT IS ADDRESSED WITH THE BOARD CHAIR AND INDIVIDUAL WITH THE CONFLICT. AN INDIVIDUAL WITH A CONFLICT MAY BE ASKED TO LEAVE THE BOARD OR COMMITTEE MEETING WHILE THE CONFLICT IS DISCUSSED AND VOTED UPON. FORM 990, PART VI, SECTION B, LINE 15 CEO/PRESIDENT COMPENSATION - BOARD EXECUTIVE COMPENSATION COMMITTEE OF FOUR BOARD MEMBERS IS CHAIRED BY THE BOARD CHAIR. THE COMMITTEE REVIEWS THE ANNUAL COMPARISON STUDY CONTRACTED THROUGH HUMAN RESOURCES AND PREPARED BY AN OUTSIDE FIRM. THE COMMITTEE'S ANNUAL RECOMMENDATION FOR THE CEO/PRESIDENT COMPENSATION IS PRESENTED TO THE ENTIRE BOARD FOR REVIEW AND APPROVAL IN EXECUTIVE SESSION AT A REGULARLY SCHEDULED BOARD MEETING. SENIOR STAFF - THE CEO USES THE SAME COMPARISON STUDY REFERRED TO ABOVE AND CONSULTS WITH THE BOARD CHAIR IN ANNUALLY SETTING THE COMPENSATION OF THE COO (WHEN FILLED), VP OF FINANCE & CFO, DIRECTOR OF DEVELOPMENT (WHEN FILLED), AND VP OF HEALTH SERVICES. THE MEDICAL DIRECTOR IS CONTRACTED THROUGH COOPER HEALTH SYSTEM. ACCORDINGLY, THE ORGANIZATION HAS NO INPUT RELATIVE TO HER COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION HAS ISSUED TAX-EXEMPT BONDS TO FINANCE VARIOUS CAPITAL IMPROVEMENT PROJECTS, RENOVATIONS AND EQUIPMENT. IN CONJUNCTION WITH THE ISSUANCE OF THESE TAX-EXEMPT BONDS, THE ORGANIZATION'S FINANCIAL STATEMENTS WERE INCLUDED WITH THE TAX-EXEMPT BOND PROSPECTUS WHICH WAS MADE AVAILABLE TO THE GENERAL PUBLIC FOR REVIEW. THE ORGANIZATION'S FILED CERTIFICATE OF INCORPORATION AND ANY AMENDMENTS CAN BE OBTAINED AND REVIEWED THROUGH THE STATE OF NEW JERSEY SECRETARY OF STATE. THE ORGANIZATION ALSO MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. COMPENSATION INFORMATION DISCLOSURE FORM 990, PART VII AND SCHEDULE J, PART II PART VII AND SCHEDULE J REFLECT CERTAIN BOARD MEMBERS AND OFFICERS RECEIVING COMPENSATION AND BENEFITS FROM THIS ORGANIZATION. PLEASE NOTE THIS REMUNERATION WAS FOR SERVICES RENDERED AS FULL-TIME EMPLOYEES OF THE ORGANIZATION AND NOT FOR SERVICES RENDERED AS A VOTING MEMBER OR OFFICER OF THIS ORGANIZATION'S BOARD OF TRUSTEES. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 277,588. OTHER-THAN-TEMPORARY IMPAIRMENT ADJUSTMENT TO INVESTMENTS -18,677. VALUATION LOSS, BENEFICIAL INTEREST IN PERPETUAL TRUSTS -33,801. WRITE-OFF OF CONSTRUCTION-IN-PROGRESS -519,767. GAIN FROM SALE OF OTHER-THAN-TEMPORARY INVESTMENTS 235,006. TOTAL TO FORM 990, PART XI, LINE 5: -59,651. AUDITED FINANCIAL STATEMENTS FORM 990, PART XII, LINE 2 AN INDEPENDENT CPA FIRM AUDITED THE FINANCIAL STATEMENTS OF THE TAXPAYER FOR THE YEARS ENDED DECEMBER 31, 2011 AND DECEMBER 31, 2010, RESPECTIVELY, AND ISSUED A CERTIFIED OPINION ON THOSE AUDITED FINANCIAL STATEMENTS. AN UNQUALIFIED OPINION WAS ISSUED BY AN INDEPENDENT CPA FIRM EACH YEAR. THE TAXPAYER'S AUDIT COMMITTEE OF THE BOARD OF TRUSTEES ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT AUDITOR.