2012-05-10T12:19:03-05:00 2011-06-30 ERNST & YOUNG US LLP 155 N WACKER DRIVE CHICAGO IL 60606 990 2010-07-01 030447208 The Clare at Water Tower CLAR 7086476500 1055 W 175th Street Homewood IL 60430 RICHARD TRUESDALE 2012-05-10 3128792000 2010 2016-02-24 21:20:13Z Judy Amiano 1055 W 175th Street Ste 202 Homewood IL 60430 10339867 false X www.franciscancommunities.com X 2001 IL Organized and operated exclusively for the charitable and religious purpose to support the ministries of the Franciscan Sisters of Chicago 5 3 149 0 0 5000 35000 5755790 10170990 598551 50585 36039 63060 6395380 10319635 0 0 0 0 3869013 4661794 0 0 0 34214246 178342118 38083259 183003912 -31687879 -172684277 265093502 84388493 319743363 304262407 -54649861 -219873914 X THE MISSION OF THE CLARE AT WATER TOWER IS TO HONOR THE DIGNITY OF LIFE BY SERVING AS A COMPASSIONATE COMMUNITY. ITS VALUES INCLUDE: RESPECT: SEEING THE FACE OF GOD REFLECTED IN THOSE WE SERVE; SERVICE: RESPONDING TO THE NEEDS OF OTHERS BEFORE OUR OWN; DEDICATION: PASSIONATELY FULFILLING THIS CALL ENTRUSTED TO US: STEWARDSHIP: RESPONSIBLY USING OUR RESOURCES, AWARE THAT ALL CREATION IS A GIFT; JOY: GIVING FROM YOUR HEART. false false 21377384 6731733 The Clare at Water Tower's vision is to become the optimal means, which frees all those we serve to experience the fullness of their lives. The Clare at Water Tower is operated solely for the charitable and religious purpose of the Franciscan Sisters of Chicago. The charism of the Franciscan Sisters of Chicago is to devote themselves to the ministry of providing care and housing to the elderly and infirm. The Clare at Water Tower offers services to meet both the physical and spiritual needs of the residents. In fulfillment of this ministry the Clare at Water Tower is designed to provide independent living, assisted living, and nursing home services. Independent Living: The Clare at Water Tower provides independent living services to allow residents to enjoy active and independent lifestyles. These services are designed to meet the physical, social and spiritual needs of the residents. Accomodations include one, two, and three bedroom apartments. Some of the amenities provided include dining, housekeeping, maintenance, transportation, health and fitness, religious and life enrichment activities, security, and an emergency response system. The average census in independent living approximated 77 in fiscal 2011. 1135409 611269 Assisted Living: The Clare at Water Tower is designed to provide assisted living services to allow residents to receive the assistance they need while maintaining an active lifestyle. These services are designed to meet the physical, social and spiritual needs of the residents. Accomodations include efficiencies, studios, and one bedroom units. Some of the amenities provided include three meals daily, snacks, housekeeping, maintenance, security, and religious and life enrichment activities. In addition, staff is available to provide assistance with activities of daily living to meet each resident's needs. The average census in assisted living approximated 12 in fiscal 2011. 3570262 2827988 Nursing Home Care: The Clare at Water Tower is designed to provide nursing care services to meet the physical, social, and spiritual needs of the residents. Some of the amenities provided include personalized care plans, licensed nursing staff, three meals daily, snacks, housekeeping, maintenance, religious and life enrichment activities, and security. The average census in the nursing home approximated 17 in fiscal 2011. 26083055 true true false false false false false false true true false false true true false false false false false false false false false false false false false false true true false false false false false false false false false true false false false false false true true true false false true 42 0 true 149 true false false false false false false false false false false X 5 3 false true false false true true true true true false false false true true true true true true true false IL X RICHARD D TRUESDALE 7086476500 1055 W 175TH STREET SUITE 202 Homewood IL 60430 X Sister M Francis Clare Radke OSF 1.0 X X 0 0 0 Sister M Francine Labus 1.0 X X 0 0 0 Thomas J Allison 40.0 X X 0 0 0 Judy Amiano 40.0 X X 0 97595 2207 Jill Krueger 1.0 X 0 0 0 Susan Cassa 1.0 X 0 0 0 Robert Zimmer 40.0 X 0 316131 24134 Tracy Shearer 40.0 X 0 61214 10570 Denise Boudreau 40.0 X 0 48107 6679 Ronald Tinsley 40.0 X 0 0 0 Terry Malik 40.0 X 0 80944 541 Michel DesJardins 40.0 X 186505 0 6881 Richard Maryonovich 40.0 X 103099 0 10425 289604 603991 61437 2 false true true McDermott Will Emery 227 West Monroe Street CHICAGO IL 60606 Legal 535970 Mesirow Financial 321 N Clark Street CHICAGO IL 60610 Financial Consult 2164179 Cain Brothers Company 360 Madison Ave 5th Floor NEW YORK NY 10017 Financial Consultant 3029943 Ungaretti Harris LLP 70 W Madison St Ste 3500 CHICAGO IL 606024224 Legal 1419437 Jones Day 77 West Wacker CHICAGO IL 606011692 Legal 397879 11 35000 35000 NET RESIDENT SERVICE REVENUE 623000 10170990 10170990 10170990 875 875 69942 68942 0 20232 -20232 -20232 -20232 0 0 0 VENDING/CAFETERIA 900099 8097 8097 REBATES AND REFUNDS 900099 48539 48539 OTHER 900099 6424 6424 63060 10319635 10170990 0 112645 0 0 0 0 193386 193386 0 3612897 3173167 439730 30546 25465 5081 544645 454052 90593 280320 233693 46627 120000 120000 102399 102399 44723 44723 0 0 29203 29203 8879197 1914166 6965031 151373 151373 1257850 1026910 230940 0 0 1609330 1609330 52222 5113 47109 0 0 5646838 5646838 0 9057692 9057692 381648 381648 IMPAIRMENT LOSS - PPE 148387188 148387188 LETTER OF CREDIT FEES 2464820 2464820 MINOR EQUIPMENT PURCHASES 56832 56543 289 RECRUITMENT 26343 2805 23538 PROVIDER TAX 17520 17520 56940 13293 43647 183003912 26083055 156920857 0 92732 783790 473443 1912389 607302 543318 209814743 156294743 199740135 53520000 46868625 22703740 17311265 4925256 265093502 84388493 13006154 5840395 65266733 62115581 216500000 216495000 24970476 19811431 319743363 304262407 X -54654861 -219878914 5000 5000 -54649861 -219873914 265093502 84388493 X -172684277 7460224 X X false false X false X 1000 37500 5000 35000 78500 1962177 5755790 10170990 17888957 2513 9309 8097 19919 1000 2002190 5770099 10214087 17987376 17987376 100 321655 600221 70817 992793 100 321655 600221 70817 992793 1361546 26370 54963 1442879 100 1000 3685391 6396690 10339867 20423048 0.88074 0.77608 0.04861 0.08938 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5000 5000 5000 5000 1000 37000 38000 1.00000 false false 198166332 153669354 44496978 6376646 1468755 4907891 5271765 1156634 4115131 53520000 DEFERRED BOND ISSUANCE COSTS 4501202 OTHER LONG TERM ASSET 424054 4925256 0 DUE TO AFFILIATES 6354310 REFUNDABLE ENTRANCE FEES 957121 TAXABLE BONDS PAYALBE 12500000 19811431 Intended Use of Endowment Funds Form 990, Schedule D, Part V, Line 4 The intended use of the temporarily restricted endowment funds is for capital expenditures. false true false false false false false false false Thomas J Allison 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Robert Zimmer 0 248245 0 60000 0 7886 0 5680 0 18454 0 340265 0 0 Michel DesJardins 166563 0 17606 0 2336 0 248 0 6633 0 193386 0 0 0 Establish Compensation Form 990, Schedule J, Question 3 The Franciscan Sisters of Chicago Service Corporation ("FSCSC"), the sole corporate member, has the responsibility to establish compensation ranges for the organization's CEO/Executive Officer. The process for determining the appropriate compensation of each position includes: 1. Review and approval by the executive compensation committee. 2. Obtaining and analyzing comparable compensation data for similar persons in functionally comparable positions in similar organizations. 3. Contemporaneous documentation and recordkeeping with respect to deliberations and decisions regarding the compensation arrangements. Supplemental Non-qualified Retirement Plan Form 990, Schedule J, Question 4b During the year the following employee participated in a nonqualified 457(f)retirement plan. There were no amounts contributed to the plan in calendar 2010. Robert Zimmer Illinois Finance Authority 861091967 45200BTG3 2005-12-13 215227691 Construct Clare at Water Tower false false false Illinois Finance authority 861091967 45200F4X4 2010-07-15 87505000 Refunding Bonds, Series 2010A and false false false 73737691 232110154 10948488 4084625 7768703 192458875 2009 false false true true 87505000 87505000 2010 true false true true false true true false true 0.00000 0.00000 0.00000 true false false true false true 0.00000 0.00000 0.00000 true false true false true Marshall and Isley 2.8 true true true false false false false false false Total Proceeds of Issue Schedule K, Part II line 3 Total proceeds of the issue are in excess of the issue price due to investment earnings. Mesirow Financial Entity w Common Officer 626353 Financial Consulting false Health Resource Alliance Director 638850 Provider of Pharmacy/Therapy false Corporate Member Form 990, Part VI, Section A, Question 6 The sole corporate member of the Clare at Water Tower is the Franciscan Sisters of Chicago Service Corporation ("FSCSC"). The members of FSCSC shall consist of the General Minister and the members of the General Council of the Franciscan Sisters of Chicago. The Members shall act in a stewardship capacity and ensure that all actions of the Clare at Water Tower are consistent with the purposes of FSCSC and the ethical and religious principles of the Franciscan Sisters of Chicago and in furtherance of their apostolates and the catholic church. Elect Governing Body Form 990, Part VI, Section A, Question 7a The sole corporate member, the Franciscan Sisters of Chicago Service Corporation, has the reserve power to appoint and remove Directors and fill vacancies on the Board of Directors of the Clare at Water Tower. Reserve Powers Form 990, Part VI, Section A, Question 7b The Member, the Francsican Sisters of Chicago Service Corporation ("FSCSC"), shall have the following reserve powers: (a) To approve the Corporation's strategic plans, annual, operating, capital and cash flow budgets and similar documents developed by the Board. (b) Governing Document Amendments and Goverance 1. To approve any amendments to the Articles of Incorporation, Bylaws or similar governing documents of the Corporation. 2. To appoint and remove Directors and fill vacancies on the Board of Directors. 3. To appoint or remove the Chairperson and the President/CEO of the Clare at Water Tower. (c) Significant Actions. 1. To approve any merger, consolidation, dissolution or liquidation of the Clare at Water Tower, or any Affiliate, other than a merger or consolidation soley between existing Affiliates. Subject to approval of the Members of FSCSC. 2. To approve the creation of any new Affiliate or any affiliation Subject to approval of the Members of FSCSC. 3. To approve the establishment, termination, transfer or other acquisition or disposition of an major ministry, work or similar program by the Clare at Water Tower or any Affiliate. Subject to approval of the Members of FSCSC. 4. To approve the purchase, sale, donation, lease, mortgage, or any other acquisition, disposition or encumbrance of any assets of the Clare at Water Tower or any Affiliate, over the amount set by the Members from time to time. Subject to approval of the Members of FSCSC. 5. To approve the incurrence of indebtedness, or the guarantee of indebtedness of any person, by FSCSC or any Affiliate over an amount specified by the Members from time to time. Governance Review Form 990, Part VI, Section A, Question 11a Management presented a final draft of the completed Form 990 to the audit and finance committee of the Board of Directors prior to its filing with the Internal Revenue Service. Delegate Control of Management Form 990, Part VI, Section A, Question 3 Effective July 15, 2008, the Franciscan Sisters of Chicago Service Corporation ("FSCSC")and its sponsor, the Franciscan Sisters of Chicago, entered into an agreement to delegate the control of management duties of FSCSC to Mesirow Financial Interim Management, LLC. The scope of services of the agreement included Mr. Thomas J. Allison to serve as Chief Executive Officer of FSCSC and affiliates. And in accordance with the bylaws of FSCSC Mr. Allison served as a member of the Board of Directors. Mr. Allison reported directly to the Board of Directors and to the Sponsor. This contract terminated on September 30,2010. Conflict of Interest Form 990, Part VI, Section B, Question 12c As provided for in the Conflict of Interest policy, it is the responsibility of the board or committee chair to ensure that each director, officer and member of a board committee annually signs an FSCSC approved conflict of interest disclosure statement. Copies of all signed statements are forwarded to the Corporate Director of Compliance and Standards. Key employees are required to complete an annual conflict of interest statement that is reviewed by their direct supervisor. Executive Compensation Form 990, Part VI, Section B, Question 15 The board of directors of the Franciscan Sisters of Chicago Service Corporation ("FSCSC")has the responsibility to establish compensation ranges for the employees of FSCSC. The FSCSC board of directors appointed an executive compensation committee of the board to meet this responsibility. The executive compensation committee establishes compensation ranges for employees of FSCSC, and to the extent the Board deems appropriate, for any affiliate. As such the board establishes compensation ranges for officers and key employees for FSCSC and affiliates. The executive compensation committee is comprised of persons who do not have a conflict of interest with respect to the compensation arranagements at issue. The process for determining the appropriate compensation of each position includes: 1. Review and approval by the executive compensation committe. 2. Obtaining and analyzing comparable compensation data for similar persons in functionally comparable positions in similar organizations. 3. Contemporaneous documentation and recordkeeping with respect to deliberations and decisions regarding the compensation arrangements. Governing Documents Form 990, Part VI, Section B, Question 19 The organization makes its governing documents, conflict of interest policy and financial statements available to the public in accordance with applicable laws and regulations. Officers, Directors, and Key Employees Form 990, Part VII The Franciscan Sisters of Chicago Service Corporation("FSCSC") is the sole corporate member of Franciscan Communities, Inc., University Place Inc., Franciscan Communities St Mary of the Woods, Franciscan Communities Villa de San Antonio, The Clare at Water Tower, Franciscan Community Services, Franciscan Community Benefit Services, St Jude House, St Joseph Senior Housing, and St Anthony Medical Center. The purpose of FSCSC is to provide program and administrative support for its affiliates including operational oversight, financial management, treasury management, information technology, compliance, marketing, human resources, resident services, and construction and development management. FSCSC is the paymaster for the officers and key employees that provide these services. The average hours per week identified in Part VII reflect the total hours spent on all affiliates. Land Lease Consideration Form 990, Part V, Question 3a The Clare at Water Tower permits less than 5% of its facility to be used by the lessor of the land for activity related to the lessor's exempt purpose in partial consideration for the land lease. Gift of Care Form 990, Part I, Line 1 Gift of Care: For more than 110 years, the Franciscan Sisters of Chicago and the Clare at Water Tower have fulfilled the desperate need of the elderly and the underserved. The gift of care program is one of the ways developed to provide additional outreach services to the underprivileged population. Long-term care is very expensive and many will not be able to pay for all of the necessary services out of his or her own income and resources. Thats where the gift of care can help. Commitment: The gift of care is a commitment by the Clare at Water Tower to underwrite all or a portion of a resident's care for a specific period of time. It is based upon defined criteria. As a not-for-profit organization, the Clare at Water Tower promotes and cares for the interests of older adults in an environment of dignified living, caring and compassion. In the spirit and tradition of the catholic church, the Franciscan Sisters of Chicago and our foundress, Mother Mary Theresa Dudzik, we have been of service to the needy and the poor for over 110 years. This program in one of the ways we reach out specifically to those who need us the most. The Clare at Water Tower strives to provide the gift of care program for applicants and existing residents, who deparately need financial assistance with the expenses associated with our compassionate services. Depending on the individual circumstances, a person may be either fully or partially supported financially. Charity care provided by the Clare at Water Tower in Fiscal 2011 amounted to $33,000. Other Changes in Net Assets Form 990 Part XI line 5 Unrestricted Net Asset Transfer $7,500,000 Unrealized Loss on Investments - 39,766 ----------- Total other changes in Net Assets $7,460,224 =========== Financial Statements and Reporting Form 990 Part IV Line 12b; Part XII Line 3b There is not a separate audit of the financial statements of the organization. However, the financial statements of the organization are included in the audited consolidated financial statements of the Franciscan Sisters of Chicago Service Corporation and Subsidiaries. As of this filing, the audited financial statements have not been issued. Financial information reported in this return reflect the current draft of the audited financial statements. Compensation of Officers Form 990 Part VII Compensation of Officers Date of Service for the following officers: Thomas Allison - President 07/15/08 - 09/30/10 Judy Amiano - President 10/27/11 - Present Robert Zimmer - Treasurer 02/25/09 - 02/11/11 Ronald Tinsley - Treasurer 06/13/11 - Present Terry Malik - General Counsel & Secretary 07/06/10 - 01/25/11 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Sister M. Francis Clare Radke, OSF TITLE:Chairman HOURS:1 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Sister M. Francine Labus TITLE:Vice-Chair and Secretary HOURS:1 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Thomas J. Allison TITLE:President HOURS:40 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Judy Amiano TITLE:President HOURS:40 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Jill Krueger TITLE:Director HOURS:1 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Susan Cassa TITLE:Director HOURS:1 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Robert Zimmer TITLE:Treasurer HOURS:40 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Tracy Shearer TITLE:Assistant Secretary HOURS:40 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Denise Boudreau TITLE:Assistant Secretary HOURS:40 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Ronald Tinsley TITLE:Treasurer HOURS:40 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:Terry Malik TITLE:General Counsel & Secretary HOURS:40 Franciscan Sisters of Chicago Service Co 1055 W 175th Street Ste 202 Homewood IL 60430 363579767 Healthcare IL 501(c)(3) 11c N/A Franciscan Sisters of Chicago 11500 Theresa Drive Lemont IL 60439 362877607 Parent IL 501(c)(3) 1 N/A Franciscan Communities 1055 W 175th Street Ste 202 Homewood IL 60430 351124441 Healthcare IN 501(c)(3) 9 FSCSC Franciscan Comm St Mary of the Woods 1055 W 175th Street Ste 202 Homewood IL 60430 510436466 Healthcare IL 501(c)(3) 9 FSCSC University Place Inc 1055 W 175th Street Ste 202 Homewood IL 60430 352058981 Healthcare IN 501(c)(3) 9 FSCSC Franciscan Comm Villa de San Antonio 1055 W 175th Street Ste 202 Homewood IL 60430 743015408 Healthcare IL 501(c)(3) 9 FSCSC Franciscan Community Services Inc 1055 W 175th Street Ste 202 Homewood IL 60430 364026985 Healthcare IL 501(c)(3) 9 FSCSC Franciscan Community Benefit Services 1055 W 175th Street Ste 202 Homewood IL 60430 364454351 Foundation IL 501(c)(3) 9 FSCSC St Jude House 1055 W 175th Street Ste 202 Homewood IL 60430 351905782 Abuse Shelter IN 501(c)(3) 7 FSCSC St Anthony Medical Center 1055 W 175th Street Ste 202 Homewood IL 60430 351172181 Hospital IN 501(c)(3) 3 FSCSC Crete Housing Manager LLC 1055 W 175th Street Suite 202 Homewood IL 60430 383698012 Afford House IL St Joseph Senior Housing 1055 W 175th Street Suite 202 Homewood IL 60430 371485002 Afford House IL NA C corp false false false false true false false false false false false true false true false false true false Franciscan Communities Inc q 169416