Rannie Webster Foundation

“The executive committee shall consist of the chairperson of the board as chair thereof, the vice chairperson, the ceo, the treasurer, and the chairperson of each of the subsidiary corporation's board of trustees. Neither the ceo nor the treasurer, if the treasurer is the cfo, shall have a vote. Only a voting member may be chairperson of the committee. The executive committee shall have charge of the detailed management of the corporation on behalf of the board of directors and the power to transact all regular business of the corporation on behalf, and with the full power, of the board of directors during the period between the meetings of the board of directors, subject to any prior limitations imposed by the board of directors or by law.”

“Silverstone by hunt acted under a temporary management agreement from january, 2023 thru april 30, 2023, just prior to the affiliation with silverstone by hunt effective 5/1/23. Silverstone by hunt is the sole corporate member effective 5/1/23 and maintains an ongoing management agreement. Former ceo of rannie webster retired dec 16, 2022, with a gross salary of $144,686 in 2022.”

“On may 1, 2023, rannie webster holding corporation merged with the foundation, with the foundation being the surviving organization. Effective may 1, 2023, silverstone by hunt (silverstone living) became the sole corporate member of the foundation through an affiliation agreement. A management services agreement was also executed, in which silverstone living will provide certain management services to the foundation. Silverstone living is also the sole member of the huntington at nashua (huntington) and hunt community (hunt) and also provides general and financial management services to huntington and hunt.”

“Silverstone by hunt is the the sole member of the corporation.”

“The form 990 is prepared by tax advisors of a national accounting firm with information provided by management. The draft form 990 is provided for review by the board of directors in advance of a scheduled meeting. Questions may be raised either at the meeting or via email prior to. Once any questions are answered, the board will vote to approve the form 990 prior to filing.”

“Annually, each board member, officer and key employee is required to complete a disclosure form that identifies any relationships with staff, vendors, contractors, etc. To determine if any conflicts exist.”

“The compensation committee uses comparable data, form 990 of other organizations, and compensation surveys or studies to determine salaries. The process described here was last completed in 2023. As of may 1st, 2023, rannie webster holding corporation merged into rannie webster foundation (rwf) and silverstone by hunt became the sole corporate member of the merged entity. Silverstone's ceo will have the authority to appoint, supervise, and evaluate the rwf executive director, determine the executive director's compensation, and termination.”

“The organization's governing documents, conflict of interest policy, and financial statements are available upon request.”

“Loss on write-off of construction in progress -278,752.”