Silvercrest Senior Housing Development Fund Corporation

“Silvercrest senior housing development fund corporation, inc. (the "corporation") has no employees. The individuals identified herein as officers of the corporation are employed and compensated by related organizations, the new york and presbyterian hospital (the "hospital") or silvercrest center for nursing and rehabuilitation (the "nursing home"). These individuals perform services for the corporation, and in some cases other related organizations, by arrangement between the hospital and such organization(s), as set forth in schedule r, the corporation and the hospital/nursing home are related organizations. The organization's officer's have no influence in the compensation process performed by the related organization.”

“The silvercrest center for nursing and rehabilitation ("scnr"), a related tax-exempt organization, performs management duties and direct supervision, including building superintendent and program coordinator services, for silvercrest senior housing development fund corporation. The fee paid to the scnr for services was $123,096 during calendar year 2024.”

“The fund is related to silvercrest center for nursing and rehabilitation (scnr) through common board members and common goals. The members of the fund are selected board members and executives of scnr who have the sole authority to elect and remove the board members of the fund. Scnr is a membership corporation whose members are selected by new york presbyterian healthcare system, inc ("system, inc."), which is a tax-exempt organization whose members are selected by new york-presbyterian foundation, inc.”

“The fund is related to silvercrest center for nursing and rehabilitation (scnr) through common board members and common goals. The members of the fund are selected board members and executives of scnr who have the sole authority to elect and remove the board members of the fund.”

“(a) the members shall have the sole authority to establish from time to time the number of trustees to be elected at large, to elect trustees to be elected at large and to remove trustees, including trustees serving by reason of their office, with or without cause. (b) the approval of the members shall be required for (1) the election or the removal by the board of the chief financial officer, chief medical officer and chief information officer, if any, or any other corporate officer whose powers and duties include those which usually appertain to such offices, (2) the amendment of the certificate of incorporation or by-laws of the corporation (3) the disposition of all or substantially all of the assets of the corporation, (4) the merger or consolidation of the corporation with another entity or (5) the dissolution of the corporation. Except as may be limited by applicable law governing health care institutions, the members shall have such other powers and authority as are afforded to the members under the corporation's certificate of incorporation or generally to members of not-for-profit corporations under the laws of the state of new york.”

“The organization did not keep board minutes for the year.”

“The organization does not have any committees to act on behalf of the governing body.”

“Members of the newyork-presbyterian hospital (nyph) finance department(finance) coordinated and completed all of the information required for form 990, accessing various resources including, legal, human resources, corporate compliance, development, and other departments as needed. The following is the process for review: senior finance executives review the return in conjunction with ernst & young u.s. Llp, paid preparer, prior to submission to the silvercrest housing board of trustees. The board of trustee reviews the 990. The corporation files the 990 upon final review.”

“Each board member, and any officer or key person presenting a proposed transaction or other matter to the board, shall disclose promptly and in good faith to the board such individual's interest in a proposed transaction or other matter to be considered by the board. The individual may not participate in the deliberations of the board or use personal influence in its matters. Following any such disclosure, and after such due diligence and such development and consideration of other alternatives, if any, as the board shall deem appropriate, the board may, in its discretion, authorize or approve the proposed transaction or other matter as at least as fair and reasonable to silvercrest as would otherwise be obtainable by silvercrest. Such actions shall be by a vote sufficient for such purpose without counting the vote or votes of such interested person or persons and such person or persons may not participate in determining the presence of a quorum at the meeting. No employee, member of the medical staff or any other person receiving compensation directly or indirectly from a silvercrest organization shall serve as a member of a board committee responsible for audit and corporate compliance or executive compensation matters. Upon reasonable belief that a board member, officer or key person failed to comply with the policies and directives set forth in this policy statement, the board of silvercrest or audit and corporate compliance committee of silvercrest shall inform the individual of the basis of the belief and provide an opportunity to explain the noncompliance. If after hearing the response from the individual and making further appropriate investigations, the board or audit and corporate compliance committee determines that the individual has, in fact, failed to comply with such policies and directives, it shall take or recommend appropriate corrective action.”

“The organization's governing documents, financial statements and form 990 are available to the public upon written request. External requests for our governing documents, conflict of interest policy, and financial statements are reviewed for validity. These requests are then granted if deemed appropriate.”

“SECURITY - Total Expense: 226459, Program Service Expense: 226459, Management and General Expenses: , Fundraising Expenses: ; PURCHASED SERVICES - Total Expense: 143876, Program Service Expense: 52952, Management and General Expenses: 90924, Fundraising Expenses: ; MAINTENANCE CONTRACTS - Total Expense: 72815, Program Service Expense: 72815, Management and General Expenses: , Fundraising Expenses: ;”