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“The form 990 was reviewed in detail by the chief financial officer and other top executives prior to the return's submission to the audit committee. The audit committee then reviews the form 990 and the board approves via email prior to the return's submission to the irs.”

“On an annual basis, the officers, directors and key employees sign a conflict of interest form. The compliance department annually reviews the conflict of interest disclosures remitted from the officers, directors and key employees and updates and monitors any changes that could cause a potential conflict of interest. Should a conflict of interest arise, the following procedures are followed: a. An interested person may make a presentation at the psl governance committee meeting, but after the presentation, he/she shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. B. The chairperson of the psl governance committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. C. To avoid the appearance of impropriety and to provide for greater transparency, the organization has adopted a general prohibition on conducting business with any entity or person in whom an interested individual has a financial interest, and a general prohibition on an interested individual soliciting the organization if it would create a potential conflict of interest. D. The general prohibition described in (c) above shall not apply to (i) ordinary course transactions between psl and an interested individual such as payments for resident care or charitable gifts: or (ii) incidental transactions where the value of the transaction is less than $1,000 annually. E. In addition, the psl governance committee will, on a case by case basis, consider other exceptions to the general prohibition described in (c) above, based on a "compelling benefit" to the organization, but only in the following circumstances: i. Where the psl governance committee determines there are exigent circumstances; or ii. Where there is a determination by the psl governance committee that there is no reasonable alternative to transacting business with the interested individual, coupled with a determination by the psl governance committee that the transaction is fair, reasonable and in the best interests of the organization.”

“Every year, salaries for executives are determined based on comparative data from leading age's sponsored salary survey called cemo leadership compensation survey. These salaries are then approved by the board of directors. For highest paid employees, salaries are set during the yearly budgeting process by the executive directors for each facility in conjunction with the vp of finance and chief financial officer. These wages are also compared to market studies and are approved, in total, by the board.”

“Presbyterian senior living and all of its affiliates are working hard to promote transparency. Therefore, current monthly/quarterly financial statements are posted right on the psl website, along with census and year end audit. Its governing documents and conflict of interest policy are made available to the public upon request.”

“Net asset transfer 3,330,234. Equity from limited tax partner 193,327. Loss on impairment of asset -1,200,000. Change in value of annuity -15,708. Equity from acquisition 11,095,000.”