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Nonprofiteer
← MASONICARE AT MYSTIC INC

Form 990 for tax year 2022

Filed by MASONICARE AT MYSTIC INC.

Totals

Total revenue
$627,200
Total expenses
$1,605,674
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$627,200
Investment income
$0
Other revenue
$0
Total assets, end of year
$29,044,119
Total liabilities, end of year
$25,911,078
Net assets or fund balances, end of year
$3,133,041
Program services expenses (Part IX)
$978,474
Management and general expenses
$627,200
Fundraising expenses
$0
Program service expenses (Part III)
$978,474

Program services were 60.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: Management Fees

    total $627,200 · related or exempt $627,200

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 20 · Interest

    total $978,474 · program services $978,474

  • 24a · Other expenses: SHARED SERVICES

    total $627,200 · management and general $627,200

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $265,537 · end of year $183,938

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $21,588 · end of year $14,511

  • 10a · Land, buildings and equipment: cost or other basis

    $0

  • 10b · Land, buildings and equipment: accumulated depreciation

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $28,845,670 · end of year $28,845,670

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $172,182 · end of year $91,127

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $25,955,522 · end of year $25,819,951

  • 27 · Net assets without donor restrictions

    beginning of year $3,005,091 · end of year $3,133,041

Mission and programs · 2022

Mission

MASONICARE AT MYSTIC INC (MAM) WAS FORMED ON JAN. 8, 2014 AS A CONNECTICUT NON-STOCK 501(C)(3) CORPORATION FOR THE PURPOSE OF SERVING AS AN OWNER AND AS THE MANAGER OF SENIOR LIVING AT MASONICARE, LLC (SLM). MAM HAS RECEIVED NOTIFICATION FROM THE INTERNAL REVENUE SERVICE (DATED MARCH 25, 2015) THAT THE CORPORATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND THAT THE CORPORATION IS A PUBLIC CHARITY UNDER CODE SECTION 509(A)(2). SLM WAS FORMED AS A CONNECTICUT LIMITED LIABILITY COMPANY FOR THE PURPOSE OF ACQUIRING PROPERTY IN ORDER TO PROVIDE ASSISTED LIVING (INCLUDING MEMORY CARE ASSISTED LIVING) AND INDEPENDENT LIVING TO THE ELDERLY. ON THE BOOK BASIS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2023 MAM OWNS 88.4% OF SLM WITH THE REMAINING 11.6% OWNED BY MYSTIC SENIOR LIVING ASSOCIATES, LLC. THE 179 UNIT ASSISTED LIVING FACILITY IN MYSTIC, CONNECTICUT, OPENED IN NOVEMBER 2016.

Activities or mission (Part I)

MASONICARE AT MYSTIC INC. (MAM) WAS FORMED ON JAN. 8, 2014 AS A CONNECTICUT NON-STOCK 501(C)(3) CORPORATION FOR THE PURPOSE OF SERVING AS AN OWNER AND AS THE MANAGER OF SENIOR LIVING BY MASONICARE, LLC (SLM). MAM HAS RECEIVED NOTIFICATION FROM THE INTERNAL REVENUE SERVICE (DATED MARCH 25, 2015) THAT THE CORPORATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND THAT THE CORPORATION IS A PUBLIC CHARITY UNDER CODE SECTION 509(A)(2). SLM WAS FORMED AS A CONNECTICUT LIMITED LIABILITY COMPANY FOR THE PURPOSE OF ACQUIRING PROPERTY IN ORDER TO PROVIDE ASSISTED LIVING (INCLUDING MEMORY CARE ASSISTED LIVING) AND INDEPENDENT LIVING TO THE ELDERLY. ON THE BOOK BASIS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2023 MAM OWNS 88.4% OF SLM WITH THE REMAINING 11.6% OWNED BY MYSTIC SENIOR LIVING ASSOCIATES, LLC. THE 179 UNIT ASSISTED LIVING FACILITY IN MYSTIC, CONNECTICUT, OPENED IN NOVEMBER 2016.

  • MASONICARE AT MYSTIC, INC. PROVIDES MANAGEMENT SERVICES TO SENIOR LIVING BY MASONICARE, LLC (SLM). SLM IS AN AFFILIATE THAT IS JOINTLY OWNED WITH MYSTIC SENIOR LIVING ASSOCIATES, LLC. SLM PROVIDES ASSISTED LIVING (INCLUDING MEMORY CARE ASSISTED LIVING) AND INDEPENDENT LIVING TO THE ELDERLY. THE FACILITY INCLUDES 99 INDEPENDENT LIVING APARTMENTS. THE OCCUPANCY PERCENTAGE FOR THE FISCAL YEAR ENDING SEPTEMBER 2023 WAS 94.75%. IN ADDITION, THE FACILITY HAS 80 ASSISTED LIVING APARTMENTS. THE OCCUPANCY PERCENTAGE FOR THE FISCAL YEAR ENDING SEPTEMBER 2023 WAS 86.50%

    Expenses $978,474 · Revenue $627,200

As filed on the 2022 return.

Listed in Part VII

  • Bonnie McWain

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 6 related

  • Christopher J Earle

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 8 related

  • Newton Buckner

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 7 related

  • Robert F Polito Jr

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 7 related

  • Bruce R Bellmore

    DIRECTOR thru 03/31/23

    Total calculated
    $0
    Hours/week
    1 + 6 related

  • Edward C Page

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 6 related

  • Joseph J Porco

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 6 related

  • Kevin J Hecht

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 6 related

  • Laura Michnowski

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 6 related

  • Les B King

    DIRECTOR (EFFECTIVE 4/1/23 THRU 7/22/23)

    Total calculated
    $0
    Hours/week
    1 + 7 related

  • Mark Winne

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 6 related

  • Patrick Birney

    DIRECTOR (EFFECTIVE 10/1/22 THRU 11/7/22)

    Total calculated
    $0
    Hours/week
    1 + 6 related

  • Rinaldo Magliano

    DIRECTOR (EFFECTIVE 7/23/23)

    Total calculated
    $0
    Hours/week
    1 + 7 related

  • Robert J Furce

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 7 related

  • Shelby Jackson

    DIRECTOR (EFFECTIVE 11/8/22)

    Total calculated
    $0
    Hours/week
    1 + 6 related

  • Susan Koty

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 6 related

  • Thaddeus M Stewart

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 6 related

  • Theodore J Nelson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 6 related

  • Jon-Paul Venoit

    PRESIDENT AND CEO, ASSISTANT SECRETARY

    Total calculated
    $769,379
    From this org
    $0
    From related orgs
    $717,186
    Other
    $52,193
    Hours/week
    1 + 47 related

    Schedule J breakdown matched by us

    Base
    $0 + $664,976 related
    Bonus
    $0 + $30,000 related
    Other
    $0 + $22,210 related
    Deferred
    $0 + $11,202 related
    Nontaxable benefits
    $0 + $40,991 related
    Filer's total
    $0 + $769,379 related

  • Lauren Dubuque

    EXECUTIVE DIRECTOR SENIOR LIVING BY MASONICARE

    Total calculated
    $151,599
    From this org
    $133,172
    From related orgs
    $0
    Other
    $18,427
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,910
    Bonus
    $0
    Other
    $262
    Deferred
    $5,408
    Nontaxable benefits
    $13,019
    Filer's total
    $151,599

  • Steven D Beaulieu

    CFO, ASSISTANT TREASURER

    Total calculated
    $322,426
    From this org
    $0
    From related orgs
    $275,148
    Other
    $47,278
    Hours/week
    1 + 47 related

    Schedule J breakdown matched by us

    Base
    $0 + $247,662 related
    Bonus
    $0 + $3,000 related
    Other
    $0 + $24,486 related
    Deferred
    $0 + $10,056 related
    Nontaxable benefits
    $0 + $37,222 related
    Filer's total
    $0 + $322,426 related

  • Sarah Patterson

    DIRECTOR ALSA SENIOR LIVING BY MASONICARE (EFFECTIVE 8/27/23)

    Total calculated
    $105,952
    From this org
    $100,256
    From related orgs
    $0
    Other
    $5,696
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
THE ORGANIZATIONS CEO, JON-PAUL VENOIT IS COMPENSATED BY A RELATED ORGANIZATION, MASONICARE CORPORATION, WHICH USES THE FOLLOWING METHODS TO ESTABLISH HIS COMPENSATION: COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • SENIOR LIVING BY MASONICARE LLC

    Related · PROVIDE SERVICES TO THE ELDERLY · CT · 88.95% owned · share of income $404,244 · share of assets $20,634,991 · general or managing partner

    Directly controlled by MASONICARE AT MYSTIC INC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • GENM SENIOR CARE CONSULTING GROUP LLC

    C Corporation · CONSULTING · CT

    Directly controlled by MASONICARE CORPORATIO N

Provenance

Return type
form_990
Tax year
2022
Filed
15 August 2024
IRS schema version
2022v5.0
Source object
202402289349300345

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