Springpoint Senior Living Inc

“The president of the corporation shall serve as ex officio trustee with the same rights as other trustees, including the right to vote. Notwithstanding the foregoing, the president shall not serve as a member of the compensation committee and shall not have a right to vote on personnel compensation matters or such other matters arising from the compensation committee. The president, in his role as a member of the governance committee, shall abstain from voting on recommendations to the board concerning the nomination of qualified persons to stand for election or re-election as trustees or to fill vacancies on the board.”

“Springpoint has the right to elect the members of each subordinate organization's board of trustees and has certain reserved powers as defined in each subordinate organization's bylaws.”

“Springpoint has the right to elect the members of each subordinate organization's board of trustees and has certain reserved powers as defined in each subordinate organization's bylaws.”

“The organization is the parent of a tax-exempt group of organizations that provide continuing care retirement community services and affordable housing. The form 990 was provided to the members of the organization's full governing body; its board of trustees, for its review and approval prior to filing with the internal revenue service ("irs"). The audit committee of the organization held a meeting and performed a review of the form 990 prior to the provision of the form to the organization's board of trustees. The organization's board of trustees has delegated to its audit committee the responsibility to oversee, review and approve of the federal form 990, including the preparation, review and filing process. As part of the tax return preparation process, the organization hired a professional cpa firm with experience and expertise in both healthcare and not-for-profit tax return preparation to prepare the federal form 990. The cpa firm's tax professionals worked closely with the organization's finance personnel and various other individuals of the organization to obtain the information needed in order to prepare a complete and accurate tax return. The cpa firm prepared a draft federal form 990 and furnished it to the organization's finance personnel and other individuals for their review. The organization's finance personnel and other individuals reviewed the draft federal form 990 and discussed questions and comments with the cpa firm. Revisions were made to the draft federal form 990 where necessary and a final draft was furnished by the cpa firm to the organization's finance personnel and various other individuals for final review and approval prior to presentation of the federal form 990 to the members of the springpoint senior living, inc. Audit committee and thereafter the provision to its full board of trustees.”

“Springpoint senior living, inc. ("springpoint") is the central organization for this consolidated group form 990. The organization regularly monitors and enforces compliance with its conflict of interest policy. Annually all members of the board of trustees, officers and senior management personnel are required to review the existing conflict of interest policy and complete a questionnaire. The completed questionnaires are returned to the organization's general counsel for review. Thereafter, the organization's general counsel prepares a summary of the completed questionnaires which contains information disclosed on an individual by individual basis and presents this summary to the organization's governance committee for its review and discussion. Family and business relationships are expressed mentioned in the conflict of interest policy as being sources of potential conflicts.”

“The organization's board of trustees has an executive compensation committee ("committee"). The committee has adopted a written executive compensation philosophy which it follows when it reviews and approves of the compensation and benefits of the organization's senior management, including the president/chief executive officer, chief operating officer and chief financial officer. The committee reviews the "total compensation" of the individuals which is intended to include both current and deferred compensation and all employee benefits, both qualified and non-qualified. The committee's review is completed and documented on at least an annual basis and ensures that the "total compensation" of senior management of the organization is reasonable. The actions taken by the committee enable the organization to satisfy the rebuttable presumption of reasonableness for purposes of internal revenue code section 4958 with respect to the total compensation of certain members of the senior management team, including the president/chief executive officer, chief operating officer and chief financial officer. The three factors which must be completed in order to satisfy the rebuttable presumption of reasonableness are the following: 1. The compensation arrangement is approved in advance by an "authorized body" of the applicable tax-exempt organization which is composed entirely of individuals who do not have a "conflict of interest" with respect to the compensation arrangement; 2. The authorized body obtained and relied upon "appropriate data as to comparability" prior to making its determination; and 3. The authorized body "adequately documented the basis for its determination" concurrently with making that determination. The committee is comprised of members of the board of trustees each of whom are independent and are free from any conflicts of interest. The committee relied upon appropriate comparable data; specifically the committee obtained a written compensation study from an independent firm which specializes in the reviewing of retirement housing and senior living healthcare services executive compensation and benefits throughout the united states. This study used comparable geographic and demographic market data including but not limited to similar sized organizations, number of continuing care retirement communities and residential facility revenue. The committee adequately documented its basis for its determination through the timely preparation of written minutes of the compensation committee meetings during which the executive compensation and benefits was reviewed and subsequently approved.”

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

“Background springpoint senior living is a nationally recognized nonprofit provider of senior housing and care, founded in 1916. The springpoint foundation's mission is to inspire generosity in support of programs that make a difference in people's lives and enrich the communities where they live. The springpoint foundation's four core resident and partnership programs include financial assistance for residents in need, spiritual care, tomorrow's leaders internship program, and programs which provide support for our affordable housing communities. Springpoint senior living serves over 4,000 seniors residing in 28 communities throughout new jersey and delaware and via its licensed home care company and continuing care at home product. Eight (8) of these communities provide the full continuum of care, nineteen (19) are affordable housing communities, and one (1) is a skilled nursing community. Springpoint employs approximately 2,300 individuals. Springpoint senior living is guided by its commitment to the quality of life of its own residents as well as concern for the well-being of seniors throughout the region. Springpoint senior living is non-denominational, welcoming residents of all faiths and backgrounds. "residents-first" philosophy at springpoint senior living, our "residents-first" philosophy guides us in promoting and expanding our mission of offering high-quality housing and services and an outstanding quality of life for every resident, every day. Springpoint senior living statement for community benefits springpoint senior living is an active community partner, bringing philanthropic, cultural, and educational resources to seniors and their family members across new jersey. Springpoint senior living values springpoint senior living is guided by the following principles in furthering its charitable tax-exempt purposes: 1. Respect: we recognize the value and dignity of every person 2. Commitment: we are accountable to the greater community 3. Compassion: we seek to understand and empathize with others 4. Service: we strive to exceed expectations 5. Excellence: we strive to do everything of the highest quality 6. Integrity: we are honest, responsible, and ethical 7. Innovation: we aim to continously improve our services and organization 8. Service: we endeavor to exceed expectations mission to inspire our family with endless opportunities vision to be the premier provider, offering exceptional services and innovative programs that empower those we serve and those who serve them to experience the best that life has to offer springpoint senior living communities full-service senior living springpoint full service senior living communities offer flexible accommodations designed to meet health and housing needs that can change over time. The full-service care spectrum encompasses independent living, assisted living, memory and skilled nursing care. These communities also offer housekeeping, meals and activities. Seven of the springpoint full-service retirement communities hold accreditation by carf-ccac, the nation's only accrediting body for continuing care retirement communities. Services offered by springpoint full-service senior living communities include: - restaurant-style and casual dining - high-quality on-site health care - fitness and livwell centers with indoor pool (except for the atrium at navesink harbor)) - beauty and barber shop - housekeeping services - concierge services full-service senior living community snapshot crestwood manor, whiting, nj crestwood offers 260 one- and two-bedroom apartments, 32 expanded services program units, and a 64-bed skilled nursing care center on a 40-acre campus in ocean county. Meadow lakes, east windsor, nj meadow lakes offers 245 independent living apartments, 15 cottages, 44 assisted living suites and 60 skilled nursing beds on a 103-acre campus in mercer county. Monroe village, monroe township, nj monroe village offers 273 independent living apartments, 28 assisted living”

“Community service and volunteering: in an effort to enrich the larger community, the springpoint foundation acts as a convener and coordinator of community service and volunteer programs. Working with individuals and organizations, the foundation creates and identifies volunteer opportunities that benefit people and communities in need. Workforce development and internships: our tomorrow's leaders program is designed to create and inspire the next generation of leaders and innovators in senior care. It is supported through sponsorship of interns by individuals, corporations, and springpoint vendors. Interns gain hands-on experience and first-hand knowledge of the latest policies and practices that affect the needs of aging adults. We are proud that many of our interns continue on to a career in the field of senior care. Conclusion springpoint senior living is a not-for-profit leader in high-quality senior housing and care. Springpoint offers diverse retirement lifestyle options as well as a range of innovative services and programming that enhance residents' lives each day. Our lifestyle choices include full-service senior living, skilled nursing and affordable housing. Because springpoint is a nonprofit corporation, residents and their families are always our first priority. Our compassionate, professional staff ensures that residents enjoy the best quality of life each day while maintaining the highest possible level of independence.”

“Net asset transfer -5,509,914. Change in fair value of derivative financial instruments 2,748,822. Pension liability adjustment -88,213. Change in value of perpetual trust -398,977. Change in value split interest agreements -61,948. Fund balance of entities included in group return (initial year) 440,480. Rounding 54. Other adjustment -8,718.”