Amsterdam Nursing Home Corp (1992)

“Amsterdam 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, reviewed by management and is ready to be filed with the internal revenue service, a copy of the form 990 is provided to and reviewed by the audit committee. Any issues are reviewed and corrected. The cfo then makes the form 990 available to all board members prior to filing. Once the board has approved the return it is filed with the internal revenue service.”

“Directors, officers, and key persons must complete an annual disclosure and affirmation form in accordance with the conflict of interest policy. An interested director means any amsterdam director who has an interest as a principal, partner, director, officer, employee, agent, or stockholder (other than a stockholder of a publicly traded corporation whose stock is widely held) of any entity with which amsterdam has or contemplates transacting business. An interested director must disclose the relationship or interest in the transaction to the board of directors. Disclosure shall be made to the chairman of the board as soon as the interested director becomes aware of the potential for a conflict in connection with the transaction, who then shall inform the board. If the chairman is involved in the transaction, the chairman shall advise the secretary, who shall arrange for board disclosure. No interested director shall participate in the discussion, deliberations and voting regarding a transaction. The affirmative vote of the majority of all the directors shall be required before entering into the transaction (excluded in such counts is the interested director). No transaction shall be invalidated or affected in any way if this policy is followed. All officers and key persons are required to disclose any potential conflicts of interest on an annual basis or sooner if a potential conflict or actual conflict should arise. Potential conflicts or actual conflicts are reviewed by the compliance officer of amsterdam nursing home. Executive employees are also required to disclose any potential conflicts of interest on an annual basis or sooner if a potential confflict or actual conflict should arise.”

“Amsterdam has a process to determine compensation for the president & ceo which includes a review by a compensation committee and outside benefits consultant, and the use of comparable data. The comparable data is market data surveys from the nursing home association. This process includes a review of total compensation including bonus consideration by the committee. The deliberations and decisions are documented within the committee minutes. This process was undertaken on december 6, 2023 to be effective january 1, 2024, and september 18, 2024 effective retroactive to september 16, 2024. Amsterdam has a process to determine compensation for officers other than the president & ceo, which includes a review by a compensation and benefits consultant, and the use of comparable data. The comparable data is market data surveys from the nursing home association. This process includes a review of total compensation including bonus consideration by the president and ceo. The decisions are documented in writing. This was last done on may 1,2024 (for administrator only, effective march 11, 2024 ), and september 18, 2024 (for svp, cfo and general counsel only, effective retroactive to september 16, 2024).”

“Amsterdam makes its form 990 and form 1023 available for public inspection as required under section 6104 of the internal revenue code. The return is also posted on guidestar.org and other similar types of websites. In addition, the financial statements, conflict of interest policy, articles of incorporation and by-laws are also available upon written request or by calling the organization directly.”

“Clinical consulting services: program service expenses 0. Management and general expenses 1,528,314. Fundraising expenses 0. Total expenses 1,528,314. Nursing agencies: program service expenses 2,130,783. Management and general expenses 686,611. Fundraising expenses 0. Total expenses 2,817,394. Physician fees: program service expenses 66,658. Management and general expenses 0. Fundraising expenses 0. Total expenses 66,658. Therapy fees: program service expenses 2,461,999. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,461,999. Other medical services: program service expenses 1,491,478. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,491,478. Billing services: program service expenses 0. Management and general expenses 349,291. Fundraising expenses 0. Total expenses 349,291. Contracted services: program service expenses 466,860. Management and general expenses 3,268,323. Fundraising expenses 0. Total expenses 3,735,183. Security services: program service expenses 432,103. Management and general expenses 8,836. Fundraising expenses 0. Total expenses 440,939. Laundry and linen services: program service expenses 559,034. Management and general expenses 0. Fundraising expenses 0. Total expenses 559,034. Dietary services: program service expenses 473,408. Management and general expenses 0. Fundraising expenses 0. Total expenses 473,408. Housekeeping services: program service expenses 352,862. Management and general expenses 7,153. Fundraising expenses 0. Total expenses 360,015. Payroll processing fees: program service expenses 0. Management and general expenses 31,181. Fundraising expenses 0. Total expenses 31,181.”

“Loss on disposal of fixed assets -153,656.”

“The organization has a committee that is responsible for the oversight of the audit of its financial statements and selection of an independent accountant. The process has not changed from the prior year.”