The Frassati Residence D/B/A the Villa at Saint Antoine

“Officers bishop richard g. Henning, president/treasurer until 10/24, msgr. Albert a. Kenney, vice president until 10/24 and then president and treasurer from 10/24, rev. Timothy d. Reilly, secretary, and laura dos santos, asst. Treasurer, have a business relationship among each other and with director james jahnz because they are employed by a related organization,the roman catholic diocese of providence, of which the officers and board members also serve.”

“The form 990 was prepared by tax advisors of a national accounting firm with information provided by management. The diocese's health facilities management service group and the executive director review the 990 prior to filing. The 990 is also made available to all members of governance for review before filing. Upon review and approval, the return is filed with the irs. A copy is submitted to the fiscal office at the diocese of providence and one is kept at the business office.”

“All key employees and members of the board of directors are asked to read the organization's conflict of interest policy and annually they are asked to disclose any potential conflicts of interest. The executive director and the finance director review all potential conflicts of interest disclosed by key employees and determine if an actual conflict exists. If an individual has a conflict, the executive director and the director of finance report this information to the board of directors. All members of the board of directors are asked to disclose any conflicts of interest, and depending upon the conflict they are asked to recuse themselves from discussions and voting on the related issue. All decisions are recorded in the minutes of the board of directors' meeting.”

“The board of directors functions as a compensation committee in determining compensation for the administrator and officers. In making its decision on compensation, it takes into account the compensation paid to similar administrators at comparable non-profit organizations in the area. The committee considers the performance of the organization during the review period and considers the administrator's success in achieving organizational goals. The administrator reviews the compensation of all other employees. In making a decision on the amount of compensation, the administrator takes into account the compensation paid to similar executives, performing similar types of duties, at comparable non-profit organizations in the rhode island area. The process described here was last completed in 2024.”

“The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request. The organization has a written employee protection (whistleblower) policy that is distributed to all new employees.”

“Garrett sullivan is employed and compensated by saint antoine residence, a related organization. Saint antoine residence provides bookkeeping and management services to the frassati residence d/b/a the villa at saint antoine, some of which is provided by mr. Sullivan. As such, a portion of his compensation is included in the calculation of the $100,000 of bookkeeping and management service fee charged by saint antoine residence to the frassati residence.”

“Unrealized gain on interest rate swap contract 42,218.”

“The diocese health management services group and the executive director are responsible for oversight of the completion of the audit of the financial statements and selection of an independent accountant. The audited financial statements are reviewed by the diocese health management services group and the executive director and submitted to the advisory board and corporate board.”