Silvercrest Senior Housing Development Fund Corporation

“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 scnr members elect scnr's board of trustees. As a result of its membership in system, inc., scnr is related, through common control, to a number of other organizations.”

“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.”

“A draft of the form 990 was presented to the board at a meeting held during the month november of 2015. Each member reviewed it and when satisfied, approved it, the form 990 was approved by audit members and recorded in the board minutes.”

“Annual conflict of interest statements are completed by board members, executive staff and department heads per policy. They are reviewed by the corporate compliance officer and reported to the board of trustees of scnr.”

“Shdf follows scnr compensation; scnr has compensation committee and uses outside compensation consultant for benchmarking and comparative salary analysis. Compensation consultant provides a detailed report to compensation committee for salary review. This process was performed in 2014.”

“These documents are available for the public upon request.”

“Security: program service expenses 104,914. Management and general expenses 0. Fundraising expenses 0. Total expenses 104,914. Building service fee: program service expenses 64,211. Management and general expenses 0. Fundraising expenses 0. Total expenses 64,211.”

“The process has not changed from the prior year.”