Friends Life Care Partners

“The executive committee is made up of the chairs of the finance committee, the hr committee, the strategic plan committee, the nominating committee and the board chair. They are all members of the governing body and can make decisions in lieu of the full committee between meetings of the board, to the extent provided in the authorizing resolution and not prohibited by applicable law or by the bylaws. These decisions are reviewed with the full board at their next scheduled meeting.”

“The form 990 was prepared by tax advisors of a national accounting firm with information provided by management. The corporate controller reviews the form 990 with the president of friends life care partners. The form 990 is then presented to the finance and audit committee, and finally to the full board of directors prior to filing the return.”

“A conflict of interest policy has been established to identify if any interested person (director, principal officer or member of a committee with board of director delegated powers), has direct or indirect financial interest through direct or indirect business, investment or family. On an annual basis, interested persons have a duty to disclose any actual or possible conflict(s) of interest and are required to sign an affirmation which is given to the chair or executive committee to review. The conflict of interest policy includes procedures for addressing a potential conflict of interest and violations of the policy. Should a conflict of interest exist, the interested person may make a presentation to the board of directors or committee meeting but after the presentation must leave the room while discussion of the transaction is held. Disinterested board members may determine whether the organization can obtain, with reasonable efforts, a more advantageous transaction.”

“To ensure the organization operates in a manner consistent with charitable purposes and does not engage in activities that could jeopardize its tax-exempt status, periodic review shall be conducted. The periodic reviews shall, at a minimum, include the following subjects: whether compensation arrangements and benefits are reasonable, based on competent survey information and the result of arm's length bargaining. In addition, the executive committee initiates compensation reviews. Compensation studies are done on rotation (for different groups of employees). Senior management compensation was last reviewed in 2020 and the results reported to the board, one of whom is an hr executive. Senior management compensation was reviewed during 2024.”

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

“Change in equity of subsidiaries 188,000.”