Greencroft Communities Foundation Inc.

“The organization is under a management/affiliation contract with greencroft retirement communities, inc. (grc), a related tax-exempt organization. According to the agreement, grc has the sole and exclusive right to supervise, manage, and operate the organization's facility ("the facility"). In addition, grc has the sole control and discretion with regard to the operation and management of the facility for all customary purposes, as well as the right to determine all operating policies affecting or concerning the appearance and maintenance standards of operation, and any other matter affecting the facility or the operation thereof. The agreement terminates in june 2028, with an option for annual extensions.”

“The organization has one member, greencroft retirement communities, inc. (grc), that is also a related tax-exempt organization. The reserved powers of the sole member are as follows: 1. Approval to any changes in corporate mission, which may be proposed by the organization, but which shall become effective only upon approval of grc 2. Approval of nominated candidates to serve as director of the organization 3. The creation or discontinuation of programs or services offered by the organization 4. Amendments to the bylaws and articles of incorporation 5. Approval or the adoption of the annual budget 6. Approval of non-budgeted contracts and/or non-budgeted purchases of over $50,000 7. The incurrence of indebtedness of over $500,000 8. The sale of real estate 9. The donation or transfer of all or substantially all of the organization's assets 10. Any merger or consolidation with any other organization, or the partial or total dissolution of the organization 11. The creation of subsidiary corporations, llcs, partnerships, or other enterprises 12. The acquisition of controlling interests in another entity 13. The appointment of the president/ceo, cfo, secretary, and treasurer of the corporation (but not the officers of the board of directors) 14. The removal of the chair of the board of directors, with or without cause 15. The removal of members of the board of directors, with or without cause notwithstanding these reserved powers, the member has no financial obligations or responsibilities for any actions of the organization by reason of serving as a member.”

“See narrative for part vi, section a, line 6”

“See narrative for part vi, section a, line 6”

“A final draft of the full form 990, including all applicable schedules, is presented by our tax advisors to the organization's audit committee at a regularly scheduled meeting. A copy of the final draft is then provided to each board member prior to its filing. This allows the board of directors and management to review and provide comments and explanations regarding the form.”

“Board members and officers are required to annually disclose any conflicts of interest they may have with the organization. The treasurer reviews each policy statement signed by these individuals to determine if any conflicts have occurred and need to be brought to the attention of the board. If a conflict arises, the respective board member will abstain him/herself from any related discussion, vote or similar action on the matter.”

“Greencroft communities foundation's (gcf) philosophy is to compensate team members in a fair manner for the worth of work provided within the current market value range for each position in the organization. Gcf conducts periodic review of the market to develop average wages for positions within greencroft communities foundation. Greencroft communities foundation does not have any team members. The team members are part of greencroft communities and provide services at cost to the greencroft communities foundation. The overall compensation policy and the vp compensation policy are approved by the greencroft communities (gc) board of directors. The gcf board reviews the compensation practices. Annually the gc board and the gcf board review the compensation of the executive, a greencroft communities employee. They compare current wages with national data provided by leadingage (formerly american association of homes and services for the aging - aahsa). The boards review the current wage, the percentile ranking of the employee in his/her respective range and the median of the marketplace compared to the mid-point of the employee's range. The boards document these meetings and actions taken in their board minutes. The gcf board has reviewed the base wage and the variable pay for the president of greencroft communities foundation. In the fiscal year 2020 this position was at the 38th percentile of the range for this position in base compensation and at the 0 percentile of the market for the variable pay compensation. This process was last performed in fiscal year 2020.”

“Governing documents, financial statements, and conflict of interest policies are not required disclosures pursuant to internal revenue code (irc) section 6104. These documents are not available to the public at this time.”

“The organization's employees are paid by greencroft retirement communities, inc (ein 30-0036587), a related tax-exempt organization. These employees are included in the form w-3, transmittal of wage and tax statements, that is filed by greencroft retirement communities.”

“Data processing: program service expenses 0. Management and general expenses 285. Fundraising expenses 0. Total expenses 285. Corporate services: program service expenses 0. Management and general expenses 30,000. Fundraising expenses 0. Total expenses 30,000. Consulting fees: program service expenses 0. Management and general expenses 0. Fundraising expenses 23,752. Total expenses 23,752.”

“Change in beneficial interest in amounts held by elkhart 5,670. County community foundation transfers to/from affiliates -1,293,661. Uncollectible pledges -17,934.”

“The audit process has not changed from the prior year.”