Serv Centers of New Jersey Inc

“The sole member of the corporation is serv behavioral health system, inc.”

“Serv behavioral health system, inc., the sole member of the organization, acting through its board of directors has the sole power to approve the directors of the organization and the sole power to remove officers and directors with and without cause.”

“Serv behavioral health system, inc., the sole member of the organization, acting through its oard of directors has the power to 1)approve the selection of the chief operating officer 2)amend the certificate of incorporation and the bylaws 3)dispose of all or substantially all of the assets of the organization 4)approve the annual and any capital budget 5)merge, consolidate, dissolve, or otherwise change the corporate structure of the organization 6)approve all expenditures exceeding $50,000, not included in the approved budget 7)select the attorney and approve the certified public accountant for the organization 8)approve the purchase, sale, exchange, conveyance, or lease for a term in excess of three years of real assets, the borrowing of money, the issuance of notes or bonds or the repayments thereof with interest, and the granting of such pledges, mortgages, or other security interests with respect to property as shall be required therein upon such terms and conditions as shall have been recommended by the board of directors 9)require the certified audit of corporate funds at any time 10)authorize any fund drive or solicitation offers.”

“Only the serv behavioral health system board can make decisions.”

“The chief financial officer will perform an initial review. Once the cfo approves the draft, the 990 is provided to the finance committee and board of directors for review prior to filing.”

“The organization has a compliance officer who consistently monitors and enforces compliance with the conflict of interest policy. The policy covers employees, contractors, and board members. Board members are required to fill out annual conflict of interest questionnaires. Any conflicts are determined by the compliance officer and the compliance committee. If a conflict is discovered, a conflict management plan is put into place to manage the conflict. If board embers and officers have any conflicts, they abstain from any board votes or decisions which involve the conflict. Family and business relationships are expressly mentioned in the policy as sources of potential conflict.”

“The board annually meets to determine and approve compensation. Compensation surveys are used to show comparable rates in the geographical areas surrounding the organization and then presented to the board. This process covers the ceo of the organization and discussions relating to the process are documented in the board minutes. Compensation decisions for other officers, key employees, and highly compensated employees are made at management's discretion. Management follows a similar process to ensure that compensation for key employees and highly compensated employees are within fair market range for the industry.”

“The governing documents, conflict of interest policy, and financial statements are available to the public upon request.”

“Transfer to related party -8,000,000. Bad debt expense -297,123.”

“The oversight and selection process has not changed from the prior year.”

“The fiscal year 2024 financial statement has not started through the date of the filing of this 990. Management of the organization is working towards finalizing their books and records. The audit and audited financial statements will be completed in 2025 for the fiscal year 2024.”