South Cove Nursing Facilities Foundation Inc

“All voting directors who are also officers or committee chairs are members of the executive committee, which has full authority to act between formal board sessions, if needed.”

“A family relationship exists between may chin, vice president; thomas chin, director; helen chin schlichte, director; and eric schlichte, director.”

“In 2024, the board approved changes to the length and tenure of the board membership.”

“The sole member of the corporation is south cove manor nursing and rehabilitation center, inc. A massachusetts non-profit corporation.”

“The sole member has the power to elect directors at each annual meeting of the corporation. The president, treasurer and clerk shall be elected annually by the member. Other officers, if any, may be elected by the member at any time. A director may be suspended or removed with or without cause by vote of the member. A director may be removed with cause only after reasonable notice and opportunity to be heard.”

“The by-laws may be altered, amended or repealed in whole or in part by vote of the members, provided that no amendment may be adopted which is inconsistent with the articles of organization.”

“The organization's audit committee reviews and approves the draft form 990. The complete form 990 is presented to the board of directors before filing with the irs.”

“The conflict of interest policy is part of the organization's by-laws and is discussed by the board of directors and top management personnel at the first board meeting each year regarding any/all significant transactions. The conflict of interest policy covers directors, officers, and employees. Any conflicts of interest are disclosed to the board prior to approval or ratification of the contract or transaction by majority vote of the disinterested persons. The ceo, administrator and finance director are tasked with overseeing the disbursements and contract management functions and monitoring for any conflicting relationship with the organization. All board members are aware of the need to notify the board and management team of any conflicts. The board is notified when a conflict of interest might occur. Should an actual or perceived conflict of interest present itself, the management team is fully prepared to ask the board to consider appropriate action.”

“A related organization, south cove manor nursing and rehabilitation center, inc., determines the compensation of the organization's ceo and other officers through the use of a compensation committee, form 990s of other organizations, written employement contracts, compensation surveys, and the approval of the board or compensation committee.”

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

“EQUITY TRANSFER -51,322.”

“Process is unchanged from prior year.”