Tel Hai Retirement Community

“Tel hai services, inc. (ein 23-2630672) is the sole member of the organization.”

“Qualification and selection: each director of the corporation shall be a natural person of majority age, but need not be a resident of pennsylvania. In the case of vacancies, new directors, subject to the approval of the member, shall be selected by the board. If the board is classified with respect to the terms of office and if, due to a vacancy or vacancies or otherwise, directors of more than one class are to be selected, each class of directors to be selected shall be nominated and selected separately.”

“Limitation on board of directors: without the approval of the member, the board may not: (a) unless previously approved by the member in the annual budget of the corporation, borrow more than $25,000 or a sum in excess of such other amount as may be determined from time to time by the member; (b) unless previously approved by the member in the annual budget of the corporation, enter into any leases which would obligate the corporation to make rental payments in excess of $10,000 per year, or payments in excess of such other amount as may be determined from time to time by the member; (c) purchase insurance policies; (d) unless previously approved by the member in the annual budget of the corporation, undertake any capital expenditures in excess of $20,000 or in excess of such other amount as may be determined from time to time by the member; or (e) adopt any original or revised capital or operating budgets.”

“Form 990 is first reviewed by the ceo and cfo. Once they have approved the initial draft, the return is presented to the finance committee. The finance committee reviews and approves the form, then reports to the board of directors. A final copy of the return is provided to each board member before the return is filed.”

“All board members and the executive team are required to sign the conflict of interest policy annually. The president reviews all statements and any potential conflict is brought to the attention of the chairman of the board. If a conflict exists for a board member, the member is asked to abstain from any vote associated with the conflict. Family and business relationships are expressly mentioned in the conflict of interest policy when addressing who is an interested person.”

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

“Tel hai retirement community is the common paymaster for all related entities (tel hai development, tel hai services, and tel hai apartments). As a result, the number of employees reported on w-3 will be greater than the number of employees listed on part v, line 2a. The employees not listed on this return have been allocated to the above mentioned entities.”

“Outside labor: program service expenses 177,706. Management and general expenses 0. Fundraising expenses 0. Total expenses 177,706. Other professional fees: program service expenses 773,582. Management and general expenses 119,620. Fundraising expenses 0. Total expenses 893,202. Medical fees: program service expenses 14,695. Management and general expenses 0. Fundraising expenses 0. Total expenses 14,695. Tv service expense: program service expenses 218,346. Management and general expenses 0. Fundraising expenses 0. Total expenses 218,346. Inspection/service contracts: program service expenses 665,022. Management and general expenses 102,833. Fundraising expenses 0. Total expenses 767,855. Exterminating service: program service expenses 21,146. Management and general expenses 0. Fundraising expenses 0. Total expenses 21,146. Assessments: program service expenses 267,381. Management and general expenses 0. Fundraising expenses 0. Total expenses 267,381. Consultant: program service expenses 1,760,727. Management and general expenses 272,263. Fundraising expenses 0. Total expenses 2,032,990.”

“Change in value of interest rate swap agreement 146,752. Change in value of perpetual trust 6,705.”