Episcopal Church Home & Affiliates Inc

“The president as well as the chief financial officer of the company are employed by a related company. Amounts charged to the company for management services are reflected as "fees for services-management" in the 2024 statement of functional expenses.”

“Form 990 was distributed to board members for review prior to filing.”

“Annual conflict of interest statements typically are obtained and reviewed and appropriate action is taken as necessary.”

“All executives who perform services for the corporation are employed by an affiliated 501(c)(3) corporation. Compensation is determined by that affiliated organization.”

“Form 990 is made available upon request and after receipt of copying charges as allowed by law. Governing documents, policies, and financial statements are not made available to the public.”

“Changes in interest in net assets of foundation - restricted 2,445,058.”

“No changes have taken place during the fiscal year ended december 31, 2024.”

“During 2024, the company recorded an additional $19,195 reserve to write receivables from certain affiliates down to the amount estimated to be realized. As of december 31, 2024, these amounts had not been forgiven, but are reflected in the balance sheet net of an allowance.”

“Through 2009, the company was self-insured for workers' compensation claims through a captive group trust arrangement with affiliated and nonaffiliated entities. The new york state workers' compensation board (the "board") took over the trust during 2011 due to the self-insured trust's failure to meet and maintain liquidity and long-term solvency requirements. On october 30, 2019, the board was granted a default judgment against the company and some of its affiliates in the amount of $6,156,424.96. As of december 31, 2024, the company has accrued a liability of $80,939 related to its participation in the trust, as part of "other liabilities" on form 990, part x, line 25. Any payments toward the default judgment by the company in excess of the amount accrued will be recorded on a cash basis in the year of payment.”

“Net amounts receivable from affiliates, before reserve: $ 1,525,943 less: reserve for uncollectible accounts receivable from affiliates: $(3,041,567) equals: net amounts payable to affiliates, net of reserve: $(1,515,624)”