Chelsea Jewish Community Inc

“Adam berman, president and ceo, and barry berman, treasurer, have a family relationship.”

“The organization entered into a management agreement with chelsea jewish lifecare effective january 1,2017. Chelsea jewish lifecare, inc. Provided management services which included the following responsibilities: 1) key personnel management 2) personnel oversight (employees & administration) 3) financial responsibilities 4) management reports 5) regulatory compliance 6) quality assurance 7) purchasing & contracting 8) bank accounts”

“The sole member of the corporation is a related organization, chelsea jewish lifecare, inc.”

“The approval of the member, chelsea jewish lifecare, inc., is required to elect or remove directors of the corporation.”

“The approval of the member, chelsea jewish lifecare, inc., is required before the board of director's action on any of the following becomes effective: (a) to amend or to repeal the articles of organization or the bylaws of the corporation; (b) to approve all plans of merger, consolidation, reorganization or dissolution of the corporation or any subsidiary of the corporation, or the sale, lease, assignment or transfer of substantially all of the assets of the corporation, or the purchase or acquisition by the corporation of the corporation of an interest in any corporation, partnership, joint venture or other entity, whether newly created or previously existing, which interest, in the case of a for-profit entity, represents twenty-five percent (25%) or more of the voting power thereof or equity interest therein, or, in the case of a non-profit entity, represents twenty-five percent (25%) or more of the voting power thereof or membership interest therein;' (c) to approve all gifts, grants, donations or similar transfers of funds of the corporation to any entity other than the member or its subsidiaries; (d) to elect or remove directors of the corporation; (e) to approve the formation of any subsidiary of the corporation; and (f) to appoint the corporation's auditors.”

“The organization's complete form 990 is reviewed by the top management prior to filing with the irs. A complete copy of the form 990 is provided to the board prior to filing with the irs.”

“On an annual basis, all board members are instructed to inform the rest of the board if any conflict of interest exists pertaining to their membership on the board. Any potential conflict of interest is then discussed and assessed by the remaining board members. If a conflict exists, it must be disclosed and held to a higher level of scrutiny in order to verify that all transactions are at arms-length. Any board member deemed to have a conflict of interest will abstain from participating in the board's deliberations and decisions in the transaction. The president and ceo are responsible for overseeing that the conflict of interest process takes place.”

“The organization's ceo is paid by a related organization, chelsea jewish lifecare. Prior to major salary adjustments for the ceo, the organization's board of directors compensation committee arranges for a salary study to be performed. The study includes the executive salaries of comparably-sized companies in the industry. The board of directors then considers the findings of the study in setting the ceo's compensation. 2022 was the most recent year in which the process included review and approval by independent persons, comparability data, and contemporaneous substantiation. Compensation for key employees is determined through the use of salary studies or other data and adjusted based on the employee's years of experience and responsibilities by board of directors compensation committee. 2022 was the most recent year in which the process included review and approval by independent persons, comparability data, and contemporaneous substantiation.”

“The organization's governing documents, conflict of interest policy, and financial statements are made available to the public upon request.”

“This organization uses a common paymaster, as such, all employees are listed under the common paymaster, chelsea jewish lifecare, inc. Of the 1,292 employees paid by the common paymaster, 32 employees had a portion or all of their time allocated to this organization during 2024.”

“Change in fair value of interest rate swap -17,824.”