Methodist Home for Nursing and Rehabilitation

“The home has its form 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate. When the form 990 has been prepared, and reviewed by management, it is sent via electronic or paper copy to the members of the audit committee for any comments. Any comments are then grouped, summarized and reviewed with management and the accounting firm. All issues are documented and addressed. The form 990 is then submitted via electronic or paper copy to the full board of directors for their review. Any of their comments are then grouped, summarized and reviewed with the audit committee, management and accounting firm. Each issue is documented and addressed until the return is finalized and approved for filing.”

“The home currently has in place a conflict of interest policy which it annually monitors and enforces. Any director, principal officer, trustee, key employee or member of a committee with governing board-delegated powers, must annually sign a conflict of interest policy and disclose any potential or actual conflicts that may exist. In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of committees with governing board delegated powers considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the governing board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. A. An interested person may make a presentation at the governing board or committee meeting, but after that presentation, he/she shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. B. The president of the board of directors or chair of a board committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. C. After exercising due diligence, the board of directors or board committee shall determine whether the organization can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. D. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the governing board or committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the organization's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination it shall make its decision as to whether to enter into the transaction or agreement. The minutes of the board of directors and all board committees with board-delegated powers shall contain: a. The names of the persons who disclosed or otherwise were found to have a financial interest in connection with an actual or possible conflict of interest, the nature of the financial interest, any action taken to determine whether a conflict of interest was present, and the governing board's or committee's decision as to whether a conflict of interest in fact existed. B. The names of the persons who were present for discussions and votes relating to the transaction or arrangement, the content of the discussion, including any alternatives to the proposed transactions or arrangement, and a record of any votes taken in connection with the proceedings.”

“Annually the committee will meet to discuss the wages, benefits and other perks of the ceo and other officers of the organization. Annually and as needed, the president of the board after consulting with the committee will review the performance of these individuals. The committee will obtain and review compensation data of other comparable skilled nursing home officers to ensure compensation is competitive. The data used for comparison will be obtained from professional organizations and from consulting organizations that have extensive experience with executive compensation issues. The committee will gather data by using, local, national and industry specific survey data. The ceo and other officers will be excused from any meeting where that person's compensation, benefits, and other perks are being reviewed. The committee will make its recommendation to the board, which will make the final decision on all such matters. The decision will be documented in the minutes to the board meeting.”

“The home makes its form 990 available for public inspection as required under section 6104 of the internal revenue code by posting it on guidestar.org. In addition forms 990 and 1023 as well as the financial statements, governing documents, and conflict of interest policy are available upon written request to the home at 4499 manhattan college parkway, bronx, ny 10471-3998. The organization also files an annual cost report with the new york state department of health which contains financial statements and related note disclosures. This cost report is available to the public upon request.”

“The home publishes an annual report, which includes the current year's financial information, and it is distributed to board members, donors, staff and associates of the home. It is also on the home's website and made available to the public upon request.”

“Pension benefits liability adjustment 1,079,508. Change in value of trust held by third party 141,119.”

“The organization has a committee that assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant. This process did not change from the prior year.”