Premierlife

“An independent accounting firm prepares and reviews the 990. The 990 is then reviewed by the organization's officers and accounting personnel. Any questions or concerns the organization's officers and accounting personnel have are addressed and any corrections or clarifications that need to be made are made. The 990 is then provided to the audit committee of the board for their review prior to filing the 990. Any questions or concerns the audit committee have are addressed and any corrections or clarifications that need to be made are made. The final form 990 with all required schedules is then provided to all voting members of the board prior to filing the 990.”

“At the time of hire (or election in the case of corporate directors and trustees) and annually thereafter, the ceo or his/her designee shall provide to the board and to all executive officers, administrative staff, associates and volunteers a copy of the conflict of interest policy and the applicable conflict of interest disclosure form and questionnaire, which shall be completed to identify any relationships, positions or circumstances with respect to which it is believed a conflict may arise. Such annual monitoring and review procedures shall be part of the corporate compliance plan. An appropriate report shall be submitted to the audit committee concerning any interest so disclosed each member of the board of directors and all management associates shall disclose fully and frankly any and all actual or potential conflicts or duality of interest or responsibility, whether individual, personal or business, which may exist or appear as to premierlife or any system entity orany matter or business which may come before the board (including its committees). Three of nine board of directors are residents and approve the village's annual budget, which includes approval of the increases in residents' monthly service fees since those resident directors only represent one third of the voting board of directors, this participatory action by the resident directors is believed to be in compliance with the conflict of interest policy. Also, missouri law requires certain system entities to have at least one member of its board of directors who is a resident. The disclosing individual shall neither vote nor endeavor to influence corporate action in any such matter upon request of the subject board, the affected individual shall leave the boardroom while the matter is discussed and a vote, if any, shall be recorded in the minutes of the board or its committee.”

“The officers' compensation is paid by john knox village, a related organization john knox village uses the following: 1) peer group: the peer group will include continuing-care communities, nursing homes and closely related organizations, nationally 2) base salaries will be positioned so that midpoints target the 60th percentile executive salaries will be administered within ranges built around the 60th percentile and based on performance, experience, and other relevant factors 3) incentives will be positioned to provide total cash compensation at the 60th percentile of the peer group for on-plan performance achieving maximum incentives may raise total compensation to approximately the 65th to 75th percentile 4) benefits will be positioned at market competitive levels, approximating the 60th to 75th percentile of the peer group 5) total compensation will be positioned at approximately the 60th percentile for on-plan performance with target incentive awards, and approximately the 65th to 75th percentile for outstanding performance with maximum incentive awards. The john knox village executive committee will determine the total compensation package for the ceo. The ceo shall make recommendations for the salaries and incentive payments for other executives these amounts will be provided annually to the executive committee for their review and approval the executive committee will report the aggregate increases and percentage comparison to the philosophy to the board of directors for approval. The last review was conducted by rodeghero consulting in fiscal year 2018. A written opinion from the consultant was received stating that the executive compensation packages are reasonable and do not constitute excess benefit transactions. The letter also outlines the steps the committee took toward establishing a rebuttable presumption that total pay levels are reasonable. The consultant reviewed the minutes to ensure the steps taken satisfied the irs requirements. The letter is on file at the facility. Jkv's philosophy regarding executive compensation is to pay at approximately the 60th percentile of the market, and it is our practice to ensure the salaries are consistent with the village's goal.”

“The organization's governing documents, conflict of interest policy and financial statements are available upon request.”

“John knox village, (fein 23-7365138) processes accounts payable payments for all related entities of premierlife and affiliates. As a result, the organization is unable to determine the number of 1099s reported by entity, and all 1099s are issued and reported out of john knox village.”

“The selection and oversight processes did not change in the current year.”