Buckingham Senior Living Community Inc

“Management company greystone management services company, llc, an unrelated entity, was engaged by buckingham senior living community, inc. To provide management services. Management duties include hiring and recruiting qualified personnel, preparing annual operating budget for submission to the board of directors, and assisting in the preparation of monthly and annual financial reporting disclosures. The board of directors has final authority over the approval of the annual operating budget, approval of monthly and annual financial reporting disclosures, and oversight of the management company.”

“Documentation of committees line 8b is answered no because there are no committees in place with authority to act on behalf of the governing body at this time.”

“Form 990 review process the board members of buckingham senior living community, inc. Receive a copy of the form 990 upon completion, and prior to filing.”

“Conflict of interest policy enforcement and monitoring: annually the conflict of interest policy is reviewed during a board meeting, in addition to having the necessary individuals sign the disclosure statement on an annual basis. It is the expectation that management staff (community and corporate) in addition to the management company will bring any questionable activity to the attention of the board or an officer.”

“Documents available to public the financial statements are posted to nationally recognized electronic municipal market access (emma) and also made available in the library of the community for viewing by residents or available upon request by prospective residents. The 990 is also made available in the library of the community and also by request. Any additional governing documents are available upon request.”

“Benevolent care the organization provides care to residents who meet certain criteria under its benevolent care policy without charge or at amounts less than its established rates. Because the organization does not pursue collection of amounts determined to qualify as benevolent care, they are not reported as revenue. Such residents are identified based on financial information obtained from the resident and subsequent analyses.”

“Employees reported through outsourced professional employer organization the organization did not issue form w-2s directly. The individuals that comprise the total listed on line 2(a) are considered employees of the organization for the purposes of part v. However, the organization utilizes a professional employer organization, oasis paychex hr, inc., which is the employer of record, issues all w-2s and acts as an outsourced human resources payroll department for the organization.”

“The board of directors assumes the responsibility for oversight of the audit of its financial statements and selection of an independent accountant. This process has not changed from prior years.”