South Franklin Circle

“Form 990 review process: the form 990 is reviewed by the board audit committee.”

“Monitor and enforce conflict of interest policy: officers and all board members are required to submit a conflict of interest disclosure statement on an annual basis.”

“Process for determining compensation: the executive committee acts as the compensation committee and annually conducts a review of the compensation of the ceo and cfo. For determining the compensation of other officers or key employees, compensation surveys are regularly acquired from an independent outside party to assist in the ongoing review of compensation levels. External benchmark amounts are also used for all officers and key employees. The compensation of the organization's ceo is determined by all board members completing an evaluation form. All members discuss the ceo's performance and the executive committee then meets and determines the compensation based on the discussion and evaluations. The compensation of the organization's cfo is determined by the ceo summarizing the cfo's performance and presenting it to the board. The board considers the ceo's recommendation of the cfo's performance and discusses the recommendation without the cfo present and reviews and approves the cfo's compensation, as appropriate. The ceo determines appropriate compensation for key employees utilizing employee evaluations, including performance goals assessments. Corporate officer's expense reimbursement policy is the same as for all employees. The only exceptions are ceo, cfo and other key employees also have an auto allowance of $600 per month.”

“Documents available to public: the organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Allocation of hours worked: hours worked per week are allocated between the filing organization and related organizations as follows for the individuals listed within part vii: kendra urdzik - total hours per week = 42, split: judson services, inc. - 6 hrs judson - 15 hrs judson home care - 2 hrs judson foundation - 4 hrs south franklin circle - 15 hrs james carnovale - total hours per week = 42, split: judson services, inc. - 6 hrs judson - 15 hrs judson home care - 2 hrs judson foundation - 4 hrs south franklin circle - 15 hrs”

“During 2020, South Franklin Circle refinanced its existing long-term debt through the issuance of long-term fixed rate bonds. As part of the financing, the existing bonds were advance refunded under a legal defeasance transaction which included the funding of a defeasance escrow to be used to pay the prior bonds until their call date and generally accepted accounting principles requires that this transaction is recorded as a loss on advance refunding.”

“Reconciliation of net assets: transfer of net assets to related parties: $(1,692,449.)”