The Silvercrest Center for Nursing and Rehabilitation

“Silvercrest center for nursing and rehabilitation (silvercrest) is a membership corporation, whose members are selected by new york-presbyterian healthcare system, inc. (system inc.). System inc. Is a tax-exempt organization whose members are appointed by new york-presbyterian foundation, inc., which is also a tax-exempt organization. The members of silvercrest elect the silvercrest's board of trustees.”

“Silvercrest is a membership corporation, whose members are selected by new york-presbyterian health care system, inc. ,whose members are selected by new york-presbyterian foundation, inc. The members elect the organization's board of trustees.”

“(a) the members shall have the sole authority to establish from time to time the number of trustees to be elected at large, to elect trustees to be elected at large and to remove trustees, including trustees serving by reason of their office, with or without cause. (b) the approval of the members shall be required for (1) the election or the removal by the board of the chief financial officer, chief medical officer and chief information officer, if any, or any other corporate officer whose powers and duties include those which usually pertain to such offices, (2) the amendment of the certificate of incorporation or by-laws of the corporation, (3) the disposition of all or substantially all of the assets of silvercrest, (4) the merger or consolidation of silvercrest with another entity or (5) the dissolution of silvercrest. Except as may be limited by applicable law governing health care institutions, the members shall have such other powers and authority as are afforded to the members under the silvercrest's certificate of incorporation or generally to members of not-for-profit corporations under the laws of the state of new york.”

“A draft of the form 990 will be presented to the audit and corporate compliance committee of the board at a meeting held during the month of november 2016. Each member will review it and when satisfied, approve it, the form 990 will also be approved by audit members and recorded in the board minutes.”

“Each board member, and any officer or key person presenting a proposed transaction or other matter to a board, shall disclose promptly and in good faith to the board such individual's interest in a proposed transaction or other matter to be considered by the board. The individual may not participate in the deliberations of the board or use personal influence in its matters. Following any such disclosure, and after such due diligence and such development and consideration of other alternatives, if any, as the board shall deem appropriate, the board may, in its discretion, authorize or approve the proposed transaction or other matter as at least as fair and reasonable to silvercrest as would otherwise be obtainable by silvercrest. Such actions shall be by a vote sufficient for such purpose without counting the vote or votes of such interested person or persons and such person or persons may not participate in determining the presence of a quorum at the meeting. No employee, member of the medical staff or any other person receiving compensation directly or indirectly from a silvercrest organization shall serve as a member of a board committee responsible for audit and corporate compliance or executive compensation matters. Upon reasonable belief that a board member, officer or key person failed to comply with the policies and directives set forth in this policy statement, the board of silvercrest or audit and corporate compliance committee of silvercrest shall inform the individual of the basis of the belief and provide an opportunity to explain the noncompliance. If after hearing the response from the individual and making further appropriate investigations, the board or audit and corporate compliance committee determines that the individual has, in fact, failed to comply with such policies and directives, it shall take or recommend appropriate corrective action.”

“Executive compensation and key employee compensation is reviewed annually by the compensation committee. The committee conducts a salary search of other similar organizations. The last search was performed in 2015.”

“These documents are available for the public upon request.”

“Billing fee: program service expenses 0. Management and general expenses 455,924. Fundraising expenses 0. Total expenses 455,924. Employment service fee: program service expenses 0. Management and general expenses 76,327. Fundraising expenses 0. Total expenses 76,327. Contract service fee: program service expenses 11,315. Management and general expenses 14,685. Fundraising expenses 0. Total expenses 26,000. Security : program service expenses 0. Management and general expenses 223,661. Fundraising expenses 0. Total expenses 223,661. Building service: program service expenses 194,684. Management and general expenses 0. Fundraising expenses 0. Total expenses 194,684. Food service: program service expenses 3,566,630. Management and general expenses 0. Fundraising expenses 0. Total expenses 3,566,630. Repair & maintenance: program service expenses 44,175. Management and general expenses 1,689. Fundraising expenses 0. Total expenses 45,864. Patient service fees: program service expenses 2,798,079. Management and general expenses 584,613. Fundraising expenses 0. Total expenses 3,382,692. Other services: program service expenses 92,016. Management and general expenses 16,053. Fundraising expenses 0. Total expenses 108,069.”

“Gain on swap agreement 256,285.”

“The process has not changed from that of the prior year.”