Lutheran Community at Telford Fund

“Articles of merger were filed as of may 31, 2022, to dissolve the organization and merge it into lutheran community at telford, inc., a 501(c)(3) public charity.”

“The sole member of the corporation is lutheran community at telford, inc., a related 501(c)(3) public charity.”

“The directors of the corporation are elected by lutheran community at telford, inc., the corporation's sole member.”

“Without the approval of the member, the board may not: (a) approve the corporation's operating and capital budgets; (b) make any strategic planning decisions and approve a strategic plan; (c) authorize or engage in any major capital or related campaigns for a specific purpose; (d) secure tax exempt financing or otherwise borrow funds; (e) buy, own, sell, assign, or lease any interest in real estate and personal property or develop improvements thereon (except for reits and traded securities); (f) initiate, cease, or significantly modify any fund-raising activities or plans for the solicitation of charitable contributions or for the solicitation or acceptance as a gift of any real property or interest therein; (g) enter into any financing leases which would obligate the corporation to make rental payments; (h) undertake any capital expenditures; (i) appoint or remove board members; (j) amend the corporation's articles or these bylaws; (k) select, remove, or replace auditors or legal counsel for the corporation; (l) authorize fundamental changes to the corporation, including the adoption of a plan of dissolution of the corporation; the adoption of a plan of merger, consolidation, division, conversion or affiliation with another entity; and change to the current corporation's corporate organizational structure; (m) authorize and designate officers of the corporation to execute a deed of assignment for the benefit of creditors; file a voluntary petition in bankruptcy; file an answer consenting to the appointment of a receiver; or file bankruptcy; file an answer to an involuntary petition in bankruptcy; (n) organize or acquire any subsidiary or affiliate; (o) change the corporation's fiscal year; (p) determine to indemnify a person as provided in these bylaws; (q) use or apply income from the endowment fund or invade the principal of such fund; (r) undertake participation in a joint venture with one or more organizations; or (s) authorize changes in the corporate purpose.”

“There are no separate committees of the board.”

“The form 990 is prepared by an independent accounting firm and is reviewed by the president and ceo, the vp of finance/cfo and the full board before filing with the internal revenue service.”

“Any director or officer who has an interest in a contract or other transaction presented to the board or a committee for authorization, approval or ratification shall make a prompt and full disclosure of his or her interest to the board or committee prior to its acting on such contract or transaction. The body to which such disclosure is made shall thereupon determine, by majority vote, whether the disclosure shows that a conflict of interest exists or can reasonably be construed to exist. If a conflict is deemed to exist, such person shall not vote on, nor use his or her personal influence on, nor participate (other than to present factual information or to respond to questions) in, the discussions or deliberations with respect to such contract or transaction. Such person shall not be counted in determining the existence of a quorum at any meeting where the contract or transaction is under discussion or is being voted upon. The minutes of the meeting shall reflect the disclosure made, the vote thereon and, where applicable, the abstention from voting and participation, and whether a quorum was present. Annually the board distributes a certification regarding conflict of interest form which must be completed and signed by each board member certifying that all conflicts are disclosed and they are familiar with the organizations policy.”

“The organization does not compensate anyone who meets the internal revenue service definition of officer or key employee.”

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

“Lutheran community at telford fund merged into lutheran community at telford, inc. Effective may 31, 2022.”

“Grace inspired ministries (ein 81-4735423) is considered a common pay agent for 1099 reporting for lutheran community at telford, inc., (ein 23-1611427), the community at rockhill (ein 23-1472520), rm home services (ein 45-3739578), and lutheran community at telford fund (ein 23-2694179). Grace inspired ministries reports all required 1099 vendor payments on its form 1096 and assigns the expenses to each entity. Due to the overly burdensome process required to determine the number of 1099 payments related to the expenses reported on each entity's form 990, part v, line 1a, grace inspired ministries reports the total number of 1099 forms issued for all five entities on its form 990, part v, line 1a.”

“Change in beneficial interest in remainder trusts -410,343. Change in beneficial interest in perpetual trusts -202,182. Net asset transfer to lutheran community at telford, inc. -19,292,381.”