The Bristol Home Inc

“Form 990 is prepared by an outside, independent accounting firm. It is then reviewed, discussed, and approved by the organization's audit committee and entire board prior to its filing.”

“Prior to the initial election of any director or key employee, and annually thereafter, they shall complete, sign and submit to the board secretary a written statement identifying, to the best of their knowledge, any instance in which they might have a conflict of interest, the definition of which is further explained in the organization's by-laws. Promptly upon learning of such a conflict, the person shall disclose the material facts concerning such conflict to the executive director who shall refer it to the audit committee or in a meeting of the board of directors, in which case it will be recorded in the minutes of that meeting. The interested person may explain the circumstances of the conflict of interest to the board but shall not be present at or participate in the board deliberation or vote on the matter, and shall not attempt to influence the deliberation or vote in any way.”

“The process includes review and approval by the board of directors or the compensation committee of the organization. Also, the process includes the use of comparable compensation data and contemporaneous documentation and recordkeeping in determining compensation. Salaries are paid through bristol village, a related entity.”

“The organization's forms 990 and 1023 are available upon request as well as through the website guidestar.org.”

“The organization's governing documents, conflict of interest policy, and financial statements are available to the public upon submission of a formal written request.”

“Due to the ongoing losses and decreases in census, on january 19, 2021, the board of directors voted to approve the closure of the home, and market the property for sale. A closing plan was submitted to new york state department of health, which was approved on february 9, 2021. The home's operating license was surrendered on march 30, 2021. On november 16, 2021, the home entered into a purchase agreement to sell its property for approximately $2,050,000. In may of 2022 the transaction closed.”