Masonicare Corporation

“The organization has an executive committee of the board, that shall have the power to transact all business of the governing body when the board is not in session. The executive committee members are the officers of the governing body, the grandmaster of the masonic grand lodge a.f.& a.m. Of connecticut, and an additional trustee appointed by the governing body. The executive committee interprets policy, advises on issues relating to operational needs and reviews the conduct of governing body members as well as carries out the work of the governing body with respect to staff compensation and human resources issues and governing body self evaluation.”

“Masonicare management and our external accountants review the form 990 and supplemental schedules for completeness and accuracy. It is reviewed by the chief executive officer and chairman of the board. The form 990 and supplemental schedules is also placed on a secured website that can be accessed by all board members for their review. At a full board meeting a discussion is held regarding comments/questions from board members. The form 990 and supplemental schedules is then finalized and filed.”

“Annually, officers, directors and senior employees are required to complete a conflict of interest disclosure questionnaire. The corporate compliance officer annotates the results to determine if, and to what extent, a conflict of interest exists. The results of the officer and board member disclosures are first reviewed by the board chairman and then reported at the board meetings. Any officer or board member shall not make or second motions or vote (other than abstain) on matters if a conflict of interest exists, whether or not the officer or board member had an opportunity to make a written disclosure through the formalized process. Senior employee disclosures are reported to the president and chief executive officer. The entire process is coordinated by the corporate compliance officer. All respondents are advised of their continuing duty to disclose any possible conflict of interest that may arise during the course of their service”

“The compensation committee of the board engages an independent firm to certify the reasonableness of the compensation of the president and chief executive officer of the organization annually. The compensation committee approves compensation based on market data analysis. The committees deliberations are reflected in its minutes. The process was completed in may 2024.”

“The organization provides governing documents, conflict of interest policy, and financial statements to to the public upon request.”

“The ceo recommends any salary adjustments of the executive leadership, using the results of the valuation study and his assessment of individual performance or other pertinent information. The proposed executive salary changes are provided to the compensation committee. The process was completed in may 2024 for the following positions: chief financial officer, chief information officer, chief of healthcare services, chief of strategy, vice president of human resourses, vice president of mission effectiveness, executive director of masonicare at mystic, executive director of masonicare at chester village, executive director of masonic charity foundation, executive director of masonicare at home, health and hospice, executive director of masonicare at home, ltc administrator of masonicare health center.”

“Hours related for volunteer trustees (column b) are the estimated hours per week that the volunteer trustees contribute to this and all other related organizations, not necessarily equally but in the proportion required for each of them, for which they receive no compensation. Related organizations include, masonic charity foundation of ct, masonicare health center, inc., masonicare at ashlar village inc., masonicare home health and hospice inc., masonicare at home inc., masonicare at mystic inc., masonicare at chester village inc. And keystone indemnity company ltd.”

“Capital distributed to related entities - 1606457; minimum pension liability - 1034534; transfers from masonic charity foundation - 8500000; rounding - 1;”

“The masonicare obligated group is responsible for the repayment of the series f bonds issued by masonicare corporation on november 15, 2016. The members of the obligated group are masonicare corporation, masonic charity foundation of ct, masonicare health center, inc., masonicare at ashlar village, inc., masonicare at home, inc., masonicare home, health and hospice, inc. And masonicare at chester village (effective 09/30/2021) the current outstanding bond balance is $90,530,000.”