Rolling Meadows Senior Living Inc

“An electronic copy of form 990 is sent to both the organization's board of directors and to the audit committee of lutheran social services of illinois (lssi), a related organization, for their review. Any changes or comments resulting from their review are then reflected in the form 990 prior year to its filing.”

“Members of the board of directors are required to disclose possible conflicts of interest annually by signing the conflict of interest policy. Additionally, the organization uses a group purchasing organization that monitors potential conflicts.”

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

“U.s. Department of housing and urban development, capital advance, not to exceed $3,290,600 no principal payments required, non-interest bearing, due june 1, 2049, secured by building. If the project is used for approved purposes over the term, the loan will be deemed to be paid and discharged. The amount drawn to date is $3,290,600. Grant revenue from the capital advance agreement is being recognized over the term of the agreement on a straight-line basis. The deferred grant revenue recorded at june 30, 2014 totaled $2,886,155. One mortgage partners corporation grant, not to exceed $90,000, no principal payments required, non-interest bearing, due june 9, 2024, secured by building. If the project is used for approved purposes over the term, the loan will be deemed to be paid and discharged. The amount drawn to date is $90,000. Grant revenue is being recognized over the term of the agreement on a straight-line basis. The deferred grant revenue recorded at june 30,2014 totaled $60,500. Revenue realized on these agreements during the year ended june 30, 2014 was $88,260.”