Loomis House Inc

“There were 60 members of the corporation (per the bylaws, there is no limit”

“The board of directos have decision-making and voting authority on issues corporation each may. There are 13 members of the board of directors (per the bylaws, there may be between 5 and 20 board memebers).”

“The board of directos have decision-making and voting authority on issues including but not limiited to the following: hiring or terminating the ceo; establishing salary and benefits for the ceo; approving the operating and capital budgets and expenditures; engaging an independent auditor to conduct an annual audit; reviewing and approving policies; establishing and approving strategic plans; and conducting all other business as is deemed appropriate for the corporation”

“The completed form 990 is reviewed by the finance committee of the board of directors before filing. Any pertinant comments or recommendations are presented by those on the committee to the full board. Each member of the board is provided with a copy of the form 990 and it is posted on the organtizations board only web site”

“In may of each year, following the annual meeting, each memeber of the board of directors receives a copy of the conflict of interest policy, and a form on which to indicate any known or potential conflicts or dualities of interest. Board members are asked to sign the policy itself, and to complete the form requesting any conflicts or dualities. At the board of directors meeting in june each year, each board member receives a copy of all signed forms; if there are any conflicts or dualities, they are disclosed to the full board. If there is a board member with a conflict related to a particular discussion or vote, that board member excuses themselves from the meeting.”

“The board of directors conducts an annual review of the ceo, both for performance and for compensation. The ceo submits a self-evaluation and reports on achievement of goals established for the prior year; all board members provide feedback. The compensation committee conducts a review of salaries and benefeits for positions comparable to the ceo. Sources for the information include, but are not limited to: wage surveys from the organization's state and national membership organizations; local employers' associations wage surverys; private wage surveys from consultants; wages as reported on other organizations' form 990's; information from independent auditor. The compensation committee presents its recommendation for ceo salary and benefits to the full board for discussion and vote. The ceo presents annually to the full baord of directos a spreadsheet with the current salaries and benefits of each member of senior management: cfo, director of community engagement, director of human resources, and the executive directors of the organizations, along with recommendations for any changes in salaries and benefits. Comparable salaries for these positions are included, obtained from inforamtion as described abovce. The full board of directors votes to approve these salaries and benefits.”

“Conflict of interest policy, governance policies and procedures and other appropriate governing documents are available to the public upon request for the same period of disclosure as set forth in section 6104(d) . In addtion, the organization's form 990 is available via guidestar and the massachusetts attorney general's website.”

“Recovery of bad debt 8,300, Loss on bond defeasance (780,538)”