Civic Intelligence

Berkshire Retirement Community Inc.

990 • Fiscal year 2016 • EIN 22-2579838

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 14, 2017

Organization Profilewww.berkshirehealthcare.org
75 North Street Suite 210Pittsfield, MA 01201

(413) 447-2996

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

95th percentile

1.11x

Higher debt load relative to assets than 95% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2016

Liabilities / Revenue

91st percentile

4.14x

Higher debt load relative to revenue than 91% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2016

Net Margin

70th percentile

8.9%

Higher net margin than 70% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2016

Top Officer Pay

84th percentile

$798,159

Higher top officer pay than 84% of similar nonprofits.

Top officer pay equals 5.4% of source-year revenue.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2016

Asset Growth

59th percentile

3.8%

Faster asset growth than 59% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2015 to 2016

Revenue Growth

50th percentile

2.6%

Faster revenue growth than 50% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets95th percentile

Assets

Up

$54,938,040

Up $2,029,021 (+3.8%) from 2015

Net Assets

Up

-$6,270,941

Up $1,341,940 (+18%) from 2015

Liabilities

Up

$61,208,981

Up $687,081 (+1.1%) from 2015

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin70th percentile

Revenue

Up

$14,788,169

Up $376,882 (+2.6%) from 2015

Expenses

Up

$13,473,819

Up $276,873 (+2.1%) from 2015

Net Income

Up

$1,314,350

Up $100,009 (+8.2%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth59th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$80M$60M$40M$20M$0-$20MAssets 2010: $49,633,038Liabilities 2010: $50,257,063Net Assets 2010: -$624,0252010Assets 2011: $50,029,298Liabilities 2011: $49,495,909Net Assets 2011: $533,3892011Assets 2012: $51,138,800Liabilities 2012: $49,567,232Net Assets 2012: $1,571,5682012Assets 2013: $53,683,065Liabilities 2013: $63,149,355Net Assets 2013: -$9,466,2902013Assets 2014: $54,600,390Liabilities 2014: $62,878,205Net Assets 2014: -$8,277,8152014Assets 2015: $52,909,019Liabilities 2015: $60,521,900Net Assets 2015: -$7,612,8812015Assets 2016: $54,938,040Liabilities 2016: $61,208,981Net Assets 2016: -$6,270,9412016Assets 2017: $55,784,514Liabilities 2017: $60,990,900Net Assets 2017: -$5,206,3862017Assets 2018: $56,845,605Liabilities 2018: $60,501,984Net Assets 2018: -$3,656,3792018Assets 2019: $59,320,694Liabilities 2019: $60,198,063Net Assets 2019: -$877,3692019Assets 2020: $60,115,226Liabilities 2020: $58,770,720Net Assets 2020: $1,344,5062020Assets 2021: $61,644,356Liabilities 2021: $59,187,497Net Assets 2021: $2,456,8592021Assets 2022: $57,622,143Liabilities 2022: $57,080,401Net Assets 2022: $541,7422022Assets 2023: $60,542,909Liabilities 2023: $59,143,646Net Assets 2023: $1,399,2632023Assets 2024: $64,519,163Liabilities 2024: $62,549,167Net Assets 2024: $1,969,9962024

Highlighted filing

2016

Assets$54,938,040
Liabilities$61,208,981
Net Assets-$6,270,941
Open 2016 Filing

Operations Trend

Revenue Growth50th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$20M$15M$10M$5.0M$0Expenses 2010: $11,825,7942010Expenses 2011: $12,554,8262011Expenses 2012: $13,134,2732012Revenue 2013: $15,648,595Expenses 2013: $13,344,157Net Income 2013: $2,304,4382013Revenue 2014: $14,558,058Expenses 2014: $13,336,858Net Income 2014: $1,221,2002014Revenue 2015: $14,411,287Expenses 2015: $13,196,946Net Income 2015: $1,214,3412015Revenue 2016: $14,788,169Expenses 2016: $13,473,819Net Income 2016: $1,314,3502016Revenue 2017: $15,207,711Expenses 2017: $13,991,062Net Income 2017: $1,216,6492017Revenue 2018: $15,439,426Expenses 2018: $13,698,410Net Income 2018: $1,741,0162018Revenue 2019: $15,481,651Expenses 2019: $13,551,464Net Income 2019: $1,930,1872019Revenue 2020: $15,318,500Expenses 2020: $13,741,582Net Income 2020: $1,576,9182020Revenue 2021: $15,914,894Expenses 2021: $13,940,600Net Income 2021: $1,974,2942021Revenue 2022: $15,849,506Expenses 2022: $15,005,818Net Income 2022: $843,6882022Revenue 2023: $16,365,383Expenses 2023: $16,125,598Net Income 2023: $239,7852023Revenue 2024: $18,035,781Expenses 2024: $17,470,620Net Income 2024: $565,1612024

Highlighted filing

2016

Revenue$14,788,169
Expenses$13,473,819
Net Income$1,314,350
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 14, 2017
Return Version
2016v3.0
Gross Receipts
$14,788,169
Mission and Program Overview

Mission

Berkshire Retirement Community, Inc. is a not-for-profit consumer-centered organization committed to fulfilling the health and residential needs of the population in the communities we serve.

Skilled nursing facility and residential units

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$16,842,899$17,719,265▲ $876,366
Savings and Temporary Cash Investments$14,319,531$15,510,556▲ $1,191,025
Investments in Publicly Traded Securities$15,314,415$15,225,513▼ $88,902
Cash and Non-Interest-Bearing Accounts$258,689$848,385▲ $589,696
Prepaid Expenses and Deferred Charges$988,133$558,972▼ $429,161
Accounts Receivable$15,455$47,740▲ $32,285
Inventories for Sale or Use$27,291$27,291→ $0
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Rtn Earn Endowment Incm Other Fnds$-7,612,881$-6,270,941▲ $1,341,940
Total Assets$52,909,019$54,938,040▲ $2,029,021
Other Assets Total$5,142,606$5,000,318▼ $142,288
Liabilities
Other Liabilities$42,896,756$44,579,385▲ $1,682,629
Tax Exempt Bond Liabilities$14,855,960$13,731,178▼ $1,124,782
Deferred Revenue$1,629,205$1,592,185▼ $37,020
Accounts Payable and Accrued Expenses$1,139,979$1,306,233▲ $166,254
Total Liabilities$60,521,900$61,208,981▲ $687,081
Net Assets / Fund Balance
Total Net Assets Fund Balance$-7,612,881$-6,270,941▲ $1,341,940
Total Liabilities and Net Assets / Fund Balance$52,909,019$54,938,040▲ $2,029,021

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$8,295,072$12,353,801$20,648,873
Equipment$2,088,488$12,022,898$14,111,386
Buildings$6,600,275$7,286,531$13,886,806
Land$560,331-$560,331
Other Land Buildings$175,099$123,818$298,917
Other Assets Org$3--
Compensation and Service Providers
Top Officer Pay84th percentile

Employees

NameTitleBaseOtherTotal
D Phelps Life Insurance CostCEO$148,978$15,531$164,509

Board Members and Trustees

NameTitle
Michael ChristopherChair
Catherine MayChairperson
Marilyn HausVice Chair
Carmen MassimianoDirector
Carol RiordanDirector
Eileen MyersDirector
Joel Feinman PhDDirector
Mary GarofanoDirector
Richard HerrickDirector
Robert McGrawDirector
Sandra ShepardAdministrator
David E PhelpsCEO
Lynn MurphyClerk
William C Jones JrPres/Treas

Highest Paid Contractors

ContractorServicesLocationCompensation
BHS Management Services IncManagement Fee725 North Street, Pittsfield, MA 01201$347,192
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$13,566,058
Investment Income
$498,997
Other Revenue
$723,114
Change in Net Assets
$1,314,350
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$7,823,626
Salaries, Compensation, and Employee Benefits$5,650,193
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$4,603,573$13,852-$4,617,425
Depreciation Depletion$1,844,253$5,549-$1,849,802
Other Employee Benefits$677,566$2,039-$679,605
Interest-$533,994-$533,994
Fees for Services Management-$358,658-$358,658
Payroll Taxes$352,104$1,059-$353,163
Insurance-$145,714-$145,714
Other Expenses$22,590$28,622-$22,590
Travel$4,320--$4,320
Conferences and Meetings$4,165--$4,165
All Other Expenses$-1,953,040--$-1,953,040
Total Functional Expenses$12,139,920$1,333,899$0$13,473,819
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Refundable Fees$39,703,245
Due to Affiliate Entities$4,308,041
AR Advances Paid$492,131
Resident Funds$42,822
Due to Affiliates$28,960
Due to third party payors$4,186

Bond Issues

BondIssuerIssuedIssue PricePurpose
AMass Dev Finance Agency2015-06-23$14,923,500Refunding of existing bonds

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$14,923,500$14,625,000-$298,470

Bond Financing Compliance

Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested in GIC
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
Yes
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“Form 990 is reviewed by executive management. Prior to filing, all members of the Board are provided with a copy of Form 990 via a secure intranet connection. The Board delegates review of Form 990 to its Finance Committee. Finance Committee members conduct their review of Form 990 prior to filing.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“The organization enforces and monitors its conflict of interest policy by requiring all members of the governing body and senior employees to disclose potential conflicts of interest (a) annually and (b) as potential conflicts arise. Senior employees are not permitted to have material conflicts of interests and members of the governing body are to abstain from action that may be influenced by their conflict or potential conflict.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“The full relevant governing body (Berkshire Health Systems, Inc. and Berkshire Healthcare Systems, Inc.) reviews and approves the compensation of the CEO and President. Every two or three years, the organization engages a nationally recognized healthcare compensation firm to provide information concerning market rates of compensation and assess the organization's compensation structure against those independent benchmarks.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Governance documents, the conflict of interest policy and financial statements are available to the public at the office of the Vice President and General Counsel at 725 North Street, Pittsfield, MA 01201, and at the President/Treasurer's office at 75 North Street, Pittsfield, MA 01201.”

Filing and Contact Details

Filer

Filer Name
Berkshire Retirement Community Inc
EIN
22-2579838
Phone
4134472996
Address
75 North Street Suite 210, Pittsfield, MA 01201

Signing Officer

Name
William C Jones Jr
Title
President/Treasurer
Signed
2017-11-14

Organization Details

Principal Officer
William C Jones Jr
Formed
1989
Legal Domicile
Ma
Voting Board Members
13
Independent Board Members
13
Employees
251
Volunteers
23
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Increases

“Unrealized gain on investments = $27590”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Chairperson
IRS990/Form990PartVIISectionAGrp/TitleTxt6Vice Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10CEO
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IRS990/InsuranceGrp/TotalAmt0145714
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IRS990/InterestGrp/ManagementAndGeneralAmt0533994
IRS990/InterestGrp/TotalAmt0533994
IRS990/InventoriesForSaleOrUseGrp/BOYAmt027291
IRS990/InventoriesForSaleOrUseGrp/EOYAmt027291
IRS990/InvestmentIncomeGrp/ExclusionAmt0498997
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0498997
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IRS990/InvestmentsPubTradedSecGrp/EOYAmt015225513
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IRS990/LandBldgEquipBasisNetGrp/BOYAmt016842899
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IRS990/LandBldgEquipCostOrOtherBssAmt049506313
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IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0true
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IRS990/MembersOrStockholdersInd0true
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0Berkshire Retirement Community, Inc. is a not-for-profit consumer-centered organization committed to fulfilling the health and residential needs of the population in the communities we serve.
IRS990/MoreThan5000KToIndividualsInd0false
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IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
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IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
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IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/TotalAmt00
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
IRS990/OtherAssetsTotalGrp/BOYAmt05142606
IRS990/OtherAssetsTotalGrp/EOYAmt05000318
IRS990/OtherChangesInNetAssetsAmt027590
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt02039
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0677566
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0679605
IRS990/OtherExpensesGrp/Desc0Supplies
IRS990/OtherExpensesGrp/Desc1Real Estate Tax
IRS990/OtherExpensesGrp/Desc2Provision for Bad Debt
IRS990/OtherExpensesGrp/Desc3Printing and Publications
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0244412
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt128622
IRS990/OtherExpensesGrp/ProgramServicesAmt06584389
IRS990/OtherExpensesGrp/ProgramServicesAmt122590
IRS990/OtherExpensesGrp/TotalAmt06584389
IRS990/OtherExpensesGrp/TotalAmt1244412
IRS990/OtherExpensesGrp/TotalAmt228622
IRS990/OtherExpensesGrp/TotalAmt322590
IRS990/OtherLiabilitiesGrp/BOYAmt042896756
IRS990/OtherLiabilitiesGrp/EOYAmt044579385
IRS990/OtherRevenueMiscGrp/Desc0Miscellaneous
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0723114
IRS990/OtherRevenueTotalAmt0723114
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt013852
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt04603573
IRS990/OtherSalariesAndWagesGrp/TotalAmt04617425
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt01059
IRS990/PayrollTaxesGrp/ProgramServicesAmt0352104
IRS990/PayrollTaxesGrp/TotalAmt0353163
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliciesReferenceChaptersInd0true
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0988133
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0558972
IRS990/PrincipalOfficerNm0William C Jones Jr
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IRS990/PYSalariesCompEmpBnftPaidAmt05343624
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Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$54,938,040
Liabilities
$61,208,981
Net assets
-$6,270,941
Revenue
$14,788,169
Expenses
$13,473,819
Net income
$1,314,350
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$64.5$62.5$1.97$18.0$17.5$0.57
2023Summary only. Only limited summary data is available for this year.$60.5$59.1$1.40$16.4$16.1$0.24
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$57.6$57.1$0.54$15.8$15.0$0.84
2021Summary only. Only limited summary data is available for this year.$61.6$59.2$2.46$15.9$13.9$1.97
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$60.1$58.8$1.34$15.3$13.7$1.58
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$59.3$60.2$0.88$15.5$13.6$1.93
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$56.8$60.5$3.66$15.4$13.7$1.74
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$55.8$61.0$5.21$15.2$14.0$1.22
2016Detailed filing. Detailed filing data is available for this year.$54.9$61.2$6.27$14.8$13.5$1.31
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$52.9$60.5$7.61$14.4$13.2$1.21
2014Detailed filing. Detailed filing data is available for this year.$54.6$62.9$8.28$14.6$13.3$1.22
2013Detailed filing. Detailed filing data is available for this year.$53.7$63.1$9.47$15.6$13.3$2.30
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$51.1$49.6$1.57$13.1
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$50.0$49.5$0.53$12.6
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$49.6$50.3$0.62$11.8