Evangelical Retirement Homes of Greater Chicago Inc.

“Friendship senior options, nfp provides strategic direction and critical management services including executive, administrative, and financial functions to evangelical retirement homes of greater chicago.”

“Friendship senior options, nfp is the sole member in that it can appoint the members of the governing body of evangelical retirement homes of greater chicago.”

“Friendship senior options, nfp is the sole member in that it can appoint the members of the governing body of evangelical retirement homes of greater chicago.”

“Section 2.3 of the bylaws provide for the following exclusive powers of the sole corporation member: (a) adopt and amend the articles of incorporation and bylaws of the corporation, as provided in article ix. (b) adopt and amend the corporation's statements of mission, philosophy or purpose. (c) appoint the corporation's board and remove any director or directors, with or without cause, all as described more fully in article iii. (d) establish a spending limit and/or investment policy for the corporation. (e) select independent auditors, legal counsel and/or other major consultants for the corporation. (f) authorize or adopt a plan of merger, consolidation, corporate reorganization, or the creation of a new subsidiary or affiliate. (g) authorize dissolution or liquidation. (h) authorize the lease, sale, exchange, or other disposition of substantially all of the corporation's assets. (i) appoint, review and remove, with or without cause, the chief executive officer/president of the corporation. (j) establish or adopt capital and operating budgets of corporation or amendments thereto. (k) establish or adopt any major change in the programs or services provided by the corporation, including any creation of new programs or services or discontinuation of existing programs or services.”

“All board of director members receive the form 990 via email before it is filed. The finance committee presented with the 990 by the tax preparers reviews the form 990 before it is filed.”

“Every year, the board members and management team receive a conflict of interest policy. They have to sign an attachment stating that they received the policy and whether or not they are aware of any conflicts. On those occasions where the issue arises, the conflict, the potential for conflict, or the perception of conflict is fully disclosed to the board prior to discussion on the matter calling for board action. Prior to such discussion, the board has determined whether the presence of or participation by the "conflicted" board member in the discussion will influence the discussion itself or its outcome. The "conflicted" member may or may not be excused from such discussion. In all instances, the "conflicted" board member abstains from any vote on the matter.”

“The most recent executive compensation salary survey was conducted in august 2019 at the request of the fso executive committee (whose responsibility is executive compensation) and the fso president/ceo. The organization at the directive of the executive committee contracts with an independent, external compensation consultant to provide the salary survey data and to ensure we are in compliance with all irs rulings on executive compensation. We also maintain a plan document that is reviewed annually and updated as regulations of the plan construct changes. The executive committee has final approval for all salary and benefit adjustments for the executives.”

“Financial statements are made available through the main desk upon request. The public is able to obtain copies of the annual report with summarized information, the governing documents, and the conflict of interest policy upon request.”

“Friendship senior options, nfp is the common paymaster for its own employees as well as those of its related organizations noted in schedule r. As such, friendship senior options has filed all appropriate tax retrns and issued forms w-2 with respect to wages it has paid as common paymaster. Each related organization has reimbursed friendship senior options for its share of wages and tax payments.”

“Evangelical retirement homes of greater chicago, inc. Reports no fundraising expenses on part ix of the return. This is because its related party, friendship senior options foundation, was created in order to perform the fundraising functions for the entity.”

“Gain from insurance claims 7,613,649.”

“The organization's finance committee assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant. This process has not changed from the prior year.”