Lebanon Valley Brethren Home

“Before it is filed with the irs, form 990 is reviewed by the organization's finance committee. The cfo presents and discusses the relevant sections and line items with the committee. Following acceptance by the finance committee, the entire board of directors receives a copy of the 990 to review and ask any questions. The form is filed with the irs after these governing bodies have reviewed the 990.”

“Conflict of interest statements, required annually of governing body members, officers 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 involved 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 of directors uses a ceo evaluation tool that is completed by board members and gathers other feedback relative to the performance of the ceo. The collected information is considered by the board's executive committee. Representatives from the executive committee review the results with the ceo. Industry data is used to determine comparable salaries for executive management. The entire process along with any comparable data used in setting compensation levels is recorded in the minutes of the executive committee. Salaries of similar positions located in central pennsylvania are used as a fair value comparison. The entire process along with any comparable data used in setting compensation levels is recorded in the minutes of the executive committee.”

“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.”

“Change in value of split-interest agreements 265,205. Change in fair value of derivative financial instrument 14,595.”