Landis Homes Retirement Community

“Landis communities provides executive management services and all financial services for the organization. The organization has a contract with an outside agency for both corporate compliance and risk management.”

“Landis communities is the sole member of landis homes retirement community as of 7/1/2012.”

“The organization's board members are approved/appointed by the landis communities' board. Under the bylaws, the board makeup is required to be comprised of a majority who are members of lancaster mennonite conference congregations and two-thirds who are members of an anabaptist congregation. At least one director or officer shall also serve on the landis communities board.”

“The member holds reserve powers that requires member approval over certain decisions as described in the corporation's bylaws.”

“The vp of finance and the president perform an initial review of the return. A draft of the federal form 990 is then provided to the finance and audit committee of the board of directors. The finance and audit committee oversees the financial affairs of the organization and reviews the federal form 990 for completeness. Upon review, the finance and audit committee will take action to approve the return. This information is reported to the board of directors in the minutes of the finance and audit committee. Additionally, the federal form 990 is made available, electronically, to all board members for review prior to filing.”

“The conflict of interest policy is part of our code of conduct that is distributed to both the board of directors and key employees. Training is provided annually. Annually board directors provide a written and signed attestation regarding the code of conduct and a conflict of interest disclosure checklist. The finance and audit committee review a summary of all conflicts noted on the conflict of interest disclosure forms completed by board members. It is then passed to the executive committee of the board for review. During the course of the year, the conflict of interest policy is monitored. At the beginning of every meeting there is a conflict of interest agenda item - members are reminded of the policy and asked to review the agenda and note if any discussion item poses a potential conflict for them. Family and business relationships are mentioned in the conflict of interest policy.”

“The board has adopted a compensation policy as recommended by the governance committee. In general, the compensation for the ceo is determined annually by the executive committee based upon annual review of comparative financial indicators and market trends to ensure salaries are within fair market range for the industry. Compensation for key employees is determined annually by the ceo and is based upon external factors such as comparative financial data, market trends, and cost of living to ensure salaries are within fair market range for the industry. This compensation is incorporated into the annual budgeting process and approved by the board upon adoption of the budget. Board level discussions on compensation are recorded in both the minutes of the executive committee and the minutes of the board meetings. The management team is employed and compensated by landis homes' supporting organization, landis communities.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Change in value, split-interest agreements -35,922. Change in fair value of derivative financial instruments 12,808.”