Franciscan Ministries Inc

“Franciscan ministries, inc. Has one member which holds several reserved powers over franciscan ministries, inc. These reserved powers include, but are not limited to, the election of members of the governing body and election of officers, approval of certain financial expenditures in accordance with the policy, and approval of budgets and strategic plans; these approvals are based on recommendations from the governing body.”

“Please see explanation for part vi, line 6.”

“Please see explanation for part vi, line 6.”

“Committees were dissolved due to termination of activities of this entity.”

“The auditing firm prepares forms 990, 990-t and associated state filings. When complete, the return is reviewed by the finance manager who focuses on income statement and blanace sheet items and schedules where transactions of this type might be reported. If discrepancies are found, the item will be corrected. Once all levels of review by both the auditing firm and the finance department have been completed, the finance manager will schedule an appointment with the signer of the return, the president.”

“Franciscan ministries inc and subsidiaries have a conflict of interest policy which states that if at any time, an officer or a director become aware that the board may discuss or act upon any transaction or arrangement which may have any bearing of any kind upon, or may relate in any manner to, a financial interest of the individual, the financial interest must be disclosed. All associates of the organization must disclose a potential conflict of interest any time one arises. The disclosures are reviewed and a determination is made as to whether a conflict of interest exists and how it might be managed.”

“The filing organization has paid individuals who served as either officers or key employees during the reporting period. These individuals have the following compensation structure: the compensation for the organization's officers and key employees who are paid by the filing organization is reviewed and approved on an annual basis, as part of the wfsi executive compensation plan, by the executive committee of the wheaton franciscan services, inc. Board of directors (the "executive committee of the wfsi board"), an independent board, acting in a manner consistent with its conflicts of interest policy. The wfsi board's decision is informed by an opinion on market comparable compensation data provided to the wfsi board by an independent compensation expert. The wfsi board maintains contemporaneous documentation of the substantiation of the deliberation and decisions it makes.”

“Franciscan ministries, inc. And affiliates provide upon request certain documents including our financial statements, conflict of interest policy, and governing documents that support our tax exempt status, including, but not limited to, articles of incorporation and bylaws. Requests for information are considered on a case-by-case basis, and this process is outlined in our public disclosure policy.”

“Franciscan ministries are a controlled group of related housing ministries. As such, many employees who are at the director level or above, or who are officers and/or directors of organizations where fmi has common boards and other overlaps in committee representations, spend significant time devoted to tasks not only for the filing organization, but also for related organizations. While there is no official time study tracking that is done, it is estimated that for each employee, tasks devoted to related organizations could approximate up to 80% or more of total hours.”

“Franciscan ministries organizations are part of a controlled group of housing ministries, controlled under a common parent organization wheaton franciscan services, inc. Some of these organizations are exempt through the catholic group ruling and other organizations have a stand-alone exemption (irs determination) letter. As such, these related affiliates have certain policies and procedures that were adopted at the parent level, but are applicable to the entire controlled group of organizations. All policy and procedure matters are handled in a manner to ensure that all activities are consistent with the organization's overall exempt purposes. Please see schedule r for a full listing of all related affiliate organizations.”