Loretto Rest Realty Corporation

“The corporation's members consist of designated members and elected members. The designated members include the bishop of the roman catholic diocese of syracuse, new york; the vicar general of the roman catholic diocese of syracuse, new york; the director of catholic charities of the roman catholic diocese of syracuse, new york; and the chair of lmc. The elected members are various central new york community individuals. The corporation is the sole corporate member of loretto independent living services, inc.”

“The business and property of the corporation are managed and controlled by a board of trustees who are elected annually by the members of the corporate member of the corporation to hold office until the next annual meeting of the corporate member. The trustees are chosen by ballot at such meeting by a majority of the votes of the members of the corporate member.”

“Before filing, a copy of form 990 was reviewed by the finance committee. The finance committee is comprised of members of the board of trustees. The return was made available to all members of the committee for review prior to filing.”

“On an annual basis the nominating and development committee of the loretto board of trustees requests all trustees to complete a conflict of interest assessment. The assessments are returned to the executive office and reviewed for any potential conflicts. Should a conflict arise, trustees are asked to recuse themselves from the deliberations and the decision making process regarding the transaction. Additionally, all employees are required to attest annually to a corporate code of conduct which addresses conflict of interest issues.”

“The compensation and benefits committee of the board of trustees of loretto (the committee) is responsible for reviewing and approving proposed compensation and benefit arrangements for key employees (covered persons). In reviewing the reasonableness of proposed compensation and benefit arrangements for covered persons, the committee considers a detailed description of the compensation/benefit arrangement recommended and the reasons for the recommendation, including external labor market data and comparability information for similarly situated persons at like organizations. Comparability information is obtained from independent sources- from research of publically available data (e.g., wage and benefit survey data). Both external data and internal factors are taken into account by the committee as it reviews compensation and benefit recommendations. When making 2022 compensation decisions, management benchmarked competitive executive compensation levels using multiple industry compensation surveys the committee documents decisions and the basis for decisions regarding compensation and benefit arrangements for covered persons in the form of minutes that are maintained for all meetings of the committee. Covered persons are excluded from deliberations regarding recommended compensation and benefit arrangements.”

“The organization provides form 1023 and form 990 to the public upon request.”

“The organization provides other information required under internal revenue service regulations to the public upon request.”

“Kimberly townsend is the president and ceo of the loretto organization, which includes all entities listed on schedule r. John murray is cfo of the loretto organization, which includes all entities listed on schedule r. Brandon claps is the chief information officer of the loretto organization, which includes all entities listed on schedule r stephanie button is vice president of loretto independent living services, inc. And oversees the operations of the clinic operated by loretto rest realty corporation. Lori sakalas is the chief operating officer of the loretto organization, which includes all entities listed on schedule r.”

“Medical and other related services: program service expenses 143,049. Management and general expenses 0. Fundraising expenses 0. Total expenses 143,049.”

“Loss on transfer of investment in affiliate to parent -15,662,935.”

“The loretto audit committee assumes responsibility for oversight of the organization's audit and selection of an independent auditor.”

“Common paymaster the organization is the common paymaster for salaries for: bernardine apartments 16-1012804 churchill manor, inc. 16-1006158 loretto adult community, inc. 22-2588128 loretto geriatric community residences 16-1234898 loretto independent living services inc. (pace) 16-1470454 loretto management corporation 22-3174823 nottingham rhcf 16-1468624 the loretto foundation 22-2339225 nottingham retirement community, inc. 16-1468628”