Fiscal year ending 2017. Filed on August 14, 2018.
PO Box 70
Wallingford, Connecticut 06492
Masonicare at Mystic Inc (EIN: 46-4656008) has filed an IRS Form 990 since at least fiscal year 2016. In its fiscal year 2017 IRS Form 990 filing, Masonicare at Mystic Inc, a 501(c)(3) charitable organization, reported compensation for 4 out of 24 total employees. Among the employees shown here, the average compensation is $434,992. The highest compensated employee at Masonicare at Mystic Inc is Stephen B McPherson with fiscal year 2017 compensation of $632,695.
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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, 2024 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.
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