St Margaret Hall

“TRUSTEES WILLIAM HAGERTY AND JAMES HAGERTY HAVE A FAMILY RELATIONSHIP. THE Carmelite SISTERS of the aged and infirmed, inc. LISTED AS TRUSTEES ON FORM 990 PART VII HAVE A BUSINESS RELATIONSHIP.”

“All of the organizations trustees are appointed by the carmelite sisters of the aged and infirm, inc.”

“Decisions of the governing body are subject to approval by the carmelite sisters of the aged and infirm, inc.”

“A copy of the form 990 is provided to the board of directors for review prior to filing.”

“The conflict of interest disclosure policy requires all officers and board members to complete an annual disclosure statement. In addition, should an officer or board member assume new external interests that potentially conflict with his/her role with the organization, such individual is required to disclose in writing the nature of such external interests. Conflicts are resolved by making a required disclosure, and may result in restricting the officer or board member in any related activity or process as determined appropriate to the circumstances of the conflict. Failure to disclose a conflict of interest is in violation of the adopted policy and can result in disciplinary action or removal.”

“A compensation policy was developed by the board to govern compensation arrangements between the organization and covered individuals, defined as those in a position to exercise substantial influence over the affairs of the organization. The compensation committee consists of at least three independent individuals appointed by the board, who themselves are members of the board of directors. The committee recommends to the board the compensation for covered individuals based on relevant data including comparability of compensation for similarly situated entities and independent compensation surveys compiled by independent firms as deemed necessary.”

“Governing documents, conflict of interest policy and financial statements are made available to the public upon request.”

“The sole member of the corporation is the Carmelite System”

“The Carmelite System, Inc. appproves the engagement of the independent auditors for the corporation. The System Audit Committee meets with the system's management and the independent auditors to review the engagement proposal, results of the audit, draft audit report and management letters. The Audit committee may meet with the independent auditors in executive session before concluding its review and acceptance of the annual audit roport. The audit committee reports its finding and makes its recommendation to the board of directors.”