Northeast Ohio Home Care

“The return and accompanied schedules and statements are prepared by the Accounting Department and initially reviewed by the CFO. The Finance Committee has reviewed draft versions of the returns over the years, and is annually provided a high level summary of any changes before the returns are finalized. A final copy of Form 990, including all schedules, is provided to the Board of Trustees via a Trustee website; and then filed electronically with the IRS. Scope of review will be on material compliance issues.”

“The conflict of interest policy is updated and monitored annually to ensure strict compliance by the governing body and Board of Trustees. Annually, the conflict of interest questionnaire is circulated to all Trustees, Officers, Directors, Administrators and Managers. The questionnaires asks members to divulge entities in which they have a direct personal financial interest and the nature and extent of that interest; as well as their awareness of any existing contract or transaction between the corporation and themselves or any other entity in which they have a direct personal financial interest. Additionally, the agenda for each Board meeting includes discussion regarding any new conflicts of interest. In the event a conflict arises, the conflicted individual is not permitted to vote on the matter or participate in the discussion. A person independent of the individual makes decisions about the transaction. The discussions and decision are documented in the organization's Minutes.”

“Compensation for aforementioned individuals is determined by comparability data (i.e. CEMO survey),and reviewed and approved by the Board of Trustees. The Board of Trustees is comprised of individuals who are independent of the employees for whom compensation decisions are being made. The Board of Trustees documents its decisions in the Minutes.”

“Tax returns can be retrieved at www.guidestar.com; all other documents are available by request. Financial statement package is submitted quarterly to stakeholders and posted on EMMA (Electronic Municipal Market Access).”

“Equity Loss in Subsidiaries = -$110648”

“In Fiscal Year 2016, we made a significant reinvestment of time, effort, and commitment in the key areas of financial performance, quality services, resident satisfaction, and employee engagement. With the leadership and support of a strong Board of Trustees and management team, we effected a smooth transition in leadership and achieved a significant $4 million improvement network-wide in our financial operating results. To help ensure future financial viability, we focused on judicial stewardship and the reallocation of resources, including: negotiating a loan modification with the City of Cleveland resulting in $67,000 reduction in interest expense for Eliza Jennings; relocating our corporate headquarters to our Renaissance campus; increasing occupancy at our residential communities; increasing clinical and physical therapy staffing levels; achieving a 17% increase in donor contributions; and completing capital improvements and repairs at our residential communities. In addition to these investments of time and resources, we developed a strategic plan to identify and develop areas of growth to further strengthen and improve our position, and better serve Northeast Ohios growing population of older adults.”