Kendal on Hudson

“Kendal on Hudson is affiliated with Kendal New York through bylaw requirements. Kendal New York must approve the election of board members at Kendal on Hudson and any amendments to articles of incorporation or specific sections of the bylaws of Kendal on Hudson as well as the incurrence of debt of specific value, changes in corporate purpose, use of the name Kendal, the substance of resident contracts and the purchase, sale, lease, or other disposition of any real estate or improvements thereon of a specific value, and dissolution, merger with another entity, division, or acquiring control of another entity.”

“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 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.”

“Each officer, director, trustee and key employee of Kendal on Hudson is required to disclose any conflicts of interest that arise by virtue of employment, board service, or position with the organization. Kendal on Hudson monitors compliance with its conflict of interest policy through an annual questionnaire/disclosure statement that is distributed to these individuals. Potential conflicts are investigated immediately.”

“Kendal on Hudson undertakes a thorough process to ensure that the executive compensation it pays to its top management official and all of the other officers and key employees of the organization is reasonable given the market in which it operates. In relevant part, the board of directors has established a committee of independent persons that have no personal interest in the proposed compensation agreement. The CEO's compensation is reviewed by the organization on an annual basis (with the most recent review having been completed in May of 2017. The Finance Committee of the Board of Directors commissions a compensation survey from an independent compensation consultant. That survey analyzes competitive CEO compensation based on data complied from peer institutions within the metropolitan New York region. The Compensation for all director level positions, including the CFO, is established by management based on an analysis of competitive data in relevant communities, coupled with consultation with external consultants (i.e. executive search firms).”

“The taxpayer makes its form 990 available to the public by retaining a copy at its place of business. The Form 990 is likewise published on the internet at www.guidestar.org. The organization's financial statements, governing documents and conflict of interest policy are not ordinarily made available to the public, but, if requested, will be provided at management's discretion.”

“Net assets released from restrictions for Property and Equipment $852,543 Net assets released from restrictions for operations $(91,509) --------- Total: $761,034 =========”