River Terrace Estates Inc

“The organization's ceo surpervises the manager's and executive director's performance and is compensated by a related organization, the foundation for health care continuums. The executive director reports to the ceo and is an employee of the organization. The executive director is responsible for leading the day-to-day operations. The organization delegates typical property management functions to an independent third party manager, greystone management services co, llc under terms described in the management agreement. The management agreement commenced in august 2002 and has a term of six years with an automatic two-year renewal after the initial term and annual renewals thereafter, unless either party terminates within 60 days of each revewal date. All other services are provided by employees of merit resources, a professional employment agency that is unrelated to the filing organization. River terrace estates reimburses merit resources for salary related employment costs. The management agreement was terminated as of december 31, 2014.”

“The organization does not have any committees of the board of directors.”

“Prior to filing the return with the irs, a draft of the completed form 990 is reviewed by the organization's ceo. Subsequent to this review, the completed and final form 990 is presented to the full board for review and is subsequently filed with the irs.”

“The organization adopted a conflict of interest policy that requires each director and officer to sign a written statement and disclose any conflict of interest. A component of the policy requires that any director or officer with a conflict is prohibited from voting on any matter in which there is a conflict. The ceo of the organization monitors and enforces compliance with the conflict of interest policy on a regular basis and the board of directors monitors the ceo.”

“Various public and private entities may require the filing of such documents as part of a regulatory or contractual commitment, and as a result of such obligations, certain materials may, in fact, be available to the public. Financial information as well as detailed information about the organization is made available to residents of the independent living section by way of a continuing disclosure document. Outside such disclosures, the organization's governing documents, conflict of interest policy, and financial statements are not routinely made available by the organization to the public. Notably, financial statements, govering documents, and conflict of interest policies are not required to be disclosed to the public pursuant to irc section 6104.”

“Other fees: program service expenses 149,484. Management and general expenses 8,202. Fundraising expenses 0. Total expenses 157,686. Other salaries: program service expenses 2,106,665. Management and general expenses 572,648. Fundraising expenses 0. Total expenses 2,679,313. Other benefits: program service expenses 21,109. Management and general expenses 231,931. Fundraising expenses 0. Total expenses 253,040. Consulting fees: program service expenses 0. Management and general expenses 106,542. Fundraising expenses 0. Total expenses 106,542.”

“Transfer from foundation 50,000.”