The Chapel Hill Residential Retirement Center Inc

“Two residents serve as ex officio without voting rights. Two other residents serve as voting members. President & ceo serves as ex officio with no voting rights. The corporation has an executive committee of the board comprised entirely of members of the governing board. In the months that the full board does not meet, the executive committee of the board meets. The scope of the executive committee is almost as broad as the full board, but for most significant actions, such as resolutions to incur additional debt, adoption of the annual budget, etc. These actions are generally done with the full board.”

“Kenneth g. Reeb, jr served as the organziation's cfo until january 2025. His parents are residents of carol woods.”

“Bylaws were amended during 2024.”

“The draft 990 is reviewed at the board finance committee prior to filing, and a copy is provided to the full board of directors prior to its submission.”

“The organization regularly and consistently monitors and enforces compliance with the conflict of interest policy by 1) discussing the policy initially with board of director candidates prior to being nominated to the board, 2) reviewing the policy annually with each board member, 3) asking each board member to annually sign a statement indicating that he or she has read and understands the policy, and 4) asking each board member to also disclose in writing any organizational relationship or other activity or interest that might possibly constitute a conflict of interest.”

“Annually, the executive committee of the organization will review the officers (president/ceo, cfo) as well as key department director positions. This is documented in the organization's minutes every three to four years. The executive committee of the organization's board retains an outside consulting firm to assess the salaries of its corporate officers as well as key department director positions. A report is prepared and presented to the executive committee for review. This independent, external process was last completed in 2023.”

“1)articles of incorporation are available on the website of the nc secretary of state, 2)bylaws are available for inspection upon request, 3)annual disclosure statement is available online through the nc dept of insurance and includes, in appendices, copies of the doi ccrc license, dhsr nursing facility license, annual audited financial statements, 5-year financial projections, conflict of interest policy, ccrc contract, and other corporate information including current listing of bios on board of directors, 4)corporate code of conduct and privacy policy are available via carol woods' website.”

“Change in value of interest rate swap 277,929.”