Springvale Terrace Inc.

“The entity was managed by coordinated services management, inc., pursuant to a management agreement approved by hud. The fee was based on 6% of gross rent collections. A new management company, residential one, llc was hired july 2019 pursuant to a management agreement between the entity and residential one approved by dhcd. The fee is based on $6 per unit per month plus the sum of 4.50% of gross monthly income based on previous month's gross receipts. For the year ended september 30, 2019, management fees were $203,092.”

“No committees were appointed during the fiscal year.”

“The board of directors is provided with a complete copy of the return for review and comment prior to filing. No additional review is conducted.”

“The conflict of interest policy applies to board members, staff members, and volunteers of seabury resources for aging and its subsidiaries ("seabury"). Every officer and staff member is expected to avoid situations or activities that could interfere with his or her unencumbered exercise of judgment in the best interests of seabury. It is the responsibility of each board member, staff, contractor or volunteer to disclose anything that may have the potential for conflict of interest. Disclosure of an actual or potential conflict of interest should be made to the executive director of seabury resources for aging, who shall report the information to the board of directors. If a potential conflict is disclosed, the individual(s) shall refrain from participation in the identified activity until the disclosure is reviewed and the matter is resolved. All disclosures shall be documented on a disclosure of potential conflicts of interest form, and copies of the documentation will remain in seabury's employment records and board files. This seabury policy statement and related disclosure form will be distributed to board members and staff members of seabury on an annual basis. Board and staff members are requested to return a signed disclosure form to the executive director and keep a second copy for their records.”

“The organization makes its governing documents and financial statements available to the public upon request. Additionally, the financial statements are filed with the omb under the a-133 provisions and are available on the omb website.”