Lebanon Valley Brethren Home

“Before it is submitted to the irs, form 990 will be reviewed by the finance committee of the board at either a regularly scheduled meeting or a specially called meeting. The review will be conducted by jeffrey shireman, ceo and douglas garrett, cfo. The review usually consists of line by line assessment and discussion of all relevant sections and line items. The entire board then receives a copy of the final 990 before it is filed with the irs.”

“Conflict of interest statements, required annually of governing body members and key employees, are reviewed by the chief financial officer. Governing body members and key employees are expected to divulge any potential conflict of interest they might have in a given transaction, notify the decision-makers invloved in that transaction, and remove themselves from any decision-making role in the transaction. Determination of conflicts on the level of the governing body will be made by the governing body. Determination of conflicts on the level of key employee will be determined by the ceo, or if the ceo is involved in the conflict, through an anonymous hotline to the corporate compliance officer, who has direct reporting access to the governing body.”

“The board adopted a ceo evaluation tool in 2012 that was completed individually by all board members. The collected results were considered by the board executive committee, and a review of the results was planned to involve the ceo and representatives of the executive committee. Executive compensation adjustments for those three positions in 2012 and 2013 followed the standard across-the-board increase percentages applied to all employee wages. The leadingage pa annual wage survey is used for determining comparable salaries for the executive management team. The salaries of similiar positions located in the central pennsylvania region are used as a fair value comparison.”

“Governing documents, conflict of interest policy and financial statements are available upon request. Additionally, audited financial statements are available with the annual disclosure statement required by the pennsylvania department of insurance, also available upon request by any member of the public. The disclosure statement is also made available to all current lvbh community residents in the community center reading room, and to all incoming residential living residents as they are moving into the community. Finally, financial statements are made available from time to time at quarterly financial roundtable meetings open to any resident of the lvbh community.”

“Change in fair value of derivative financial instrument 193,981. Change in value of split-interest agreements 45,509. Change in value of pledges receivable 3,385. Book/tax difference in gain on sale of fixed assets 6,487. Noncash contribution of automobile not on books -16,482.”

“The processes used by the committee that assumes responsibility for the oversight of the audit of the organization's audited financial statements and the selection of an independent accountant have not changed from the prior year.”