Twin Towers

“Life enriching communities, a non-profit corporation, is the sole member of twin towers.”

“Life enriching communities elects the board of trustees of twin towers.”

“Life enriching communities shall have the following exclusive powers: a) to adopt, amend and repeal the articles of incorporation or any amended or restated articles of incorporation of the corporation. B) to select which certified public accountants will audit the books and records of the corporation. C) to adopt, amend and repeal the mission statement of the corporation. D) to adopt, amend and repeal the regulations of the corporation. E) to approve any voluntary merger or consolidation of the corporation or the sale, assignment, pledging, mortgaging, leasing or transfer of all or substantially all of the corporation's assets or the transfer of majority control of the corporation. F) to determine and approve the assumption, refunding, advance refunding or defeasance of any major debt, to execute major debt documents and to take all other actions necessary to enforce the provisions of those documents on behalf of and with respect to twin towers and to authorize persons to carry out such actions. G) to approve the financing or construction of any new facilities, improvements, building or grounds. H) any other rights or powers accorded by ohio law to the members of any other non-profit corporation and not conferred upon the board of trustees by ohio law or by the articles of incorporation or these regulations.”

“The finance committee of life enriching communities, the sole member of twin towers, reviews the form 990 prior to filing, discussions concerning the form 990, questions and answers are documented contemporaneously in the minutes of the finance committee meeting. Additionally, a copy of the form 990 was made available to the twin towers board of trustees prior to filing.”

“Officers and trustees are required to report any conflicts or potential conflicts of interest at least once a year. A questionnaire is completed, signed and dated by the person completing the questionnaire. The results are compiled into a single document and reviewed by senior management and are distributed to the person approving accounts payable and signing checks. Conflicts of interest are monitored by senior management to ensure that those with conflicts do not vote on matters where they have a conflict of interest. As part of the onboarding process of new officers and trustees, any potential conflicts of interest are identified. Any other conflicts that arise during the year are communicated verbally, and if any are identified, this information is shared.”

“Twin towers makes its governing documents, conflicts of interest policy and financial statements available upon written request. The consolidated organization's condensed financial statements are published in its annual report on its website. The annual report is distributed to friends, family members, business partners and contributors, audited financial statements and quarterly bondholder financial disclosures are posted to electronic municipal market access (emma).”

“Tax-exempt bonds were issued for the benefit of life enriching communities, life enriching communities foundation, twin towers and twin lakes (obligated group members). As the parent organization, life enriching communities has completed schedule k to reflect 100% of the bonds' value as reported on 8038 for the obligated group. No schedule k was completed for twin towers. The amount of tax-exempt bonds recorded on the balance sheet of twin towers reflects the amount specifically allocated for its particular projects.”

“Contract services - medical: program service expenses 944,050. Management and general expenses 0. Fundraising expenses 0. Total expenses 944,050. Contract services - maintenance: program service expenses 2,951,629. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,951,629. Other contracted labor: program service expenses 3,029,573. Management and general expenses 10,789. Fundraising expenses 0. Total expenses 3,040,362. Contract services - administrative: program service expenses 0. Management and general expenses 162,868. Fundraising expenses 0. Total expenses 162,868.”

“Change in split interest agreement -15,423.”

“This process has not changed from prior year.”