Founders Woods Ltd

“Compensation for the organization's top management official is paid by benedictine university, a related tax exempt organization. The process of determining compensation of the president of the university: the chairman of the board of trustees and two independent members of the board comprised the compensation committee. This group reviewed and determined executive compensation through the use of comparable compensation data from various sources including relevant external compensation surveys, compensation data from peer educational institutions, and internal executive equity analysis. The committee met and reviewed salary history and performed an analysis in reaching the annual compensation. Based on this analysis, the compensation committee made a recommendation to the executive committee of the board of trustees for final approval. Contemporaneous documentation was kept and maintained. Last meeting was in december 2016. Because the organization's president and other officers are not paid by the filing organization, the form 990 instructions require this to be answered "no."”

“Compensation for the organization's other officers is paid by benedictine university, a related tax exempt organization. The board of trustees met in october 2016 when a balanced budget was approved by the board. The approval stated a university-wide raise for all eligible faculty and staff, including key employees. Two key employees were hired in 2016. Search firms specializing in higher education placement and case compensation data were used. Documentation was kept and maintained. Because the organization's other officers and employees are not paid by the filing organization, the form 990 instructions require this to be answered "no."”

“Founders woods has no committees that are authorized to act on behalf of the board”

“Prior to filing, the completed form 990 was provided to and reviewed by the benedictine university finance and audit committee together with its outside accounting firm. Founders woods and benedictine university have consolidated financial information; founders' finances are routinely reviewed as a part of benedictine university's overall financial reporting. The 990 was made available to the board prior to filing.”

“Founders woods makes its governing documents and financial information available to the public upon request. The benedictine university conflicts of interest policy is also available upon request and is posted on the compliance page of the university's website.”