Jewish Senior Life Foundation Inc

“The form 990 is prepared by the foundation's finance department. It is reviewed in detail by an independent outside accountant and by the audit committee prior to submission. A copy of the 990 is available to all board members upon request.”

“Each board member, officer, member of a committee with board-delegated powers, and key employee, annually signs the conflict of interest policy. If a conflict arises and disclosure of the financial interest is made, the interested persons will leave the board or committee meeting while the financial interest is discussed and voted upon. The remaining board or committee members will decide if a conflict of interest exists. If appropriate, the chairperson of the board or committee will appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. The board will then determine, with the organization, if they can obtain a more advantageous transaction or arrangement with reasonable efforts from a person or entity that would not give rise to conflict of interest. If the board or committee has reasonable cause to believe that an interested person has failed to disclose actual or possible conflicts of interest, it will inform the interested person of the basis for such belief and afford him or her an opportunity to explain the alleged failure to disclose. If the board determines that the person has in fact failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action.”

“The foundation does not compensate its board members. The non-board officers are paid through the jewish home of rochester, inc. (jhr), a non-related entity. Jhr is represented under jsl, the parent company, which has formed a compensation committee comprised of the board chair, treasurer, secretary, and at least two other at large board members to review and determine the annual compensation packages for the senior managment team. On a regular basis, the compensation committee obtains from a third party consultant, a compensation survey that determines the market rates for each of the positions and then determines what, if any, adjustments should be made to salaries. This same compensation committee, on an annual basis determines what the variable compensation goals should be and whether or not they have been met. The last meeting took place on december 2, 2024.”

“The organization may provide, upon request, its conflict of interest policy as well as any appropriate governing documents, or appropriate financial statements.”

“An audit committee appointed by the foundation board has been created to select an independent audit firm to oversee the annual audit and to accept or amend the audit report as presented. The audit committee meets independently with the independent audit firm on an annual basis. This process has not changed from the prior year.”