Philadelphia Presbytery Homes and Services for the Aging

“Management performs an internal review of the return. Once all management comments have been cleared, the audit committee of the board of directors reviews and approves the form 990. The form 990 is then sent to all board members for their review prior to finalizing and filing the tax return.”

“All board members, officers, and key employees of the organization are required to annually disclose any conflicts of interest via completion of a conflicts form. Those individuals are required to disclose any and all ongoing issues that arise during the course of the year. Signed conflict of interest statements are given to the board and reviewed and maintained by the organization's compliance officer (the vp of human relations). Any individual with a conflict of interest must abstain from voting on the matter. The conflict of interest policy includes language on family and business relationships that indicate these relationships may be the source of conflicts and should be reported.”

“The organization has an executive compensation program developed by members of the executive compensation committee which is comprised of board members. The committee contracts with a third party consultant for executive compensation advisory services as needed. Annual market studies are used to ensure that salaries of key employees are commensurate with similarly sized senior living organizations. The compensation program has been developed to comply with all regulatory and statutory requirements affecting executive compensation in a not-for-profit context. All compensation recommendations and program design elements for the executives and key employees are reviewed by the executive compensation committee to ensure full compliance with requirements. Legal counsel was retained in 2016 to review executive compensation arrangements and provide an opinion and reasonableness letter. This review will be done every 3 to 5 years. The executive compensation committee is comprised of independent persons, and decisions of the committee are documented in committee minutes, which are included with board materials.”

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