Beth-Anne Extended Living

“Effective march 1, 2013, the corporation has contracted with a new management agent, evergreen real estate services, llc, pursuant to a management agreement approved by hud. Under the management agreement, for the years ended june 30, 2018 and 2017, management fees were $50,480 and $54,209, respectively, based on approximately 5.71 percent of monthly rental collections, capped at $68 per unit per month for 2018 and 2017. As of june 30, 2018 and 2017, property management fees payable were $5,897 and $6,641, respectively.”

“The board retains the services of an independent cpa firm to prepare the organization's form 990. The form 990 is reviewed by the finance committee before it is filed. The finance committee serves as audit committee and has been designated authority to approve audits and tax returns. The board treasurer or chair signs the form. Copies will then be provided to all members of the board.”

“Annually, the organization monitors and enforces its policies through the board term renewal process at the first meeting of each fiscal year.”

“Compensation review procedures are performed by a related organization, bethel new life, inc. (36-3013241). The ceo's compensation is determined by the board of directors. The activity for determining compensation is led by the executive committee of the board. The compensation of other officers are determined by the president & ceo who are vested with the authority to determine such salaries. Typically, the salaries reflect the ranges portrayed in compensation studies and disclosed in the annual budget approved by the board of directors.”

“The organization makes all documents available at its business address during normal business hours.”

“The compensation from a related organization, bethel new life, inc. Reported in part vii for edward coleman and saul cyvas, is the compensation paid by bethel new life, inc. For their full time positions. Beth-anne extended living does not pay for any of the salary or benefits for these individuals.”