Center of Hope Foundation Inc

“Center of hope foundation, inc. Does not compensate the organization's ceo or other officer. Kinexion, the sole corporate owner of the reporting organization, paid compensation to the ceo, coo and cfo of the reporting organization - walter stockton, mary beth lichtneger and danuta poniatowski. Kinexion has established the compensation of these officers using: independent compensation consultant, form 990 tax returns of other organizations, compensation surveys or study, and approval by the board of directors or compensation committee. Kinexion has written employment agreements in place for these individuals, which outline compensation including all forms of wages and fringe benefits. Kinexion uses an outside independent accounting consultant firm with expertise in the not-for-profit industry to perform compensation analyses of the executive positions. The compensation analyses include compensation surveys of comparable positions based upon the compensation and fringe benefits reported on the 990 tax returns for comparable agencies in the industry. The results of the compensation analyses are presented to the board of directors, who review the analyses to determine appropriate compensation levels and ensure compliance with the due diligence guidelines as outlined in irc sec 4958. The basis for its determination and all decisions made are contemporaneously documented in meeting minutes. The organization regularly commissions an independent compensation study; the last survey was completed in 2024.”

“The sole corporate member of the corporation is maryhaven center of hope, inc. (maryhaven). Kinexion, inc (kinexion) is the sole member of maryhaven.”

“The sole member, maryhaven, has the right to elect the directors of the corporation.”

“As the sole member, maryhaven is required to approve certain decisions made by the organization: (a) the powers of this corporation shall be exercised, its properties controlled, and its affairs conducted by the member, which may, however, delegate the performance of any duties or the exercise of any powers to such officers and agents as the board may from time to time, by resolution, designate. (b) management of income property. The member may determine, by resolution from time to time duly adopted, to delegate in whole or in part, the management, investment, and disposition of the property of the corporation for the purpose of earning an income from that property, as distinguished from the matter of applying property and funds to charitable purposes, to a finance committee consisting of not less than three members of the board, who shall be elected by majority vote thereof, or to one or more trust companies or banks duly authorized to conduct a trust or banking business under the laws of new york. (c) common trust funds. The member may, by resolution from time to time duly adopted, establish one or more common trust funds for the purpose of investing the corporation's funds and those of any beneficial, charitable, or educational institution affiliated with the corporation, whether the corporation holds such funds or property as a fiduciary or otherwise, subject to such terms and conditions as are set forth in the certificate of incorporation of this corporation and by law.”

“The form 990 was prepared by an independent accounting firm in conjunction with the organization's financial department. A copy of the draft form 990 was circulated to the full board of trustees in either paper or electronic form for discussion and comment. Each board member was provided ample opportunity to comment on the information contained in the 990 prior to its filing with the internal revenue service.”

“Center of hope foundation, inc. Operates under the conflict of interest policy of its parent organization, maryhaven center of hope, inc. (maryhaven). The policy and annual disclosure forms are distributed to all board members, officers and management staff. Each individual is required to sign and review the disclosure form and provide information about any relationships they may have with kinexion, other employees, and/or vendors that conduct business with kinexion. All submissions are reviewed by compliance officer to determine if a conflict exists; when a conflict arises, the individuals affected are prohibited from participating in the decision-making process related to any transaction occurring with the conflicted organization.”

“Upon request, the organization will make available only those documents required to be disclosed under the public inspection laws.”