Clark-Lindsey Village Inc

“The organization delegated management duties to lindsey management services, a related 501(c)(3) organization.”

“The organization's sole member is lindsey communities, inc., an illinois not-for-profit corporation that is exempt from federal income taxation pursuant to section 501 (c)(3) of the code.”

“The sole member holds the following exclusive powers related to the organization's board of directors: appoint the organization's board and remove any director or directors, with or without cause; fill any director vacancies on the board; determine and amend the number of directors to serve on the board; elect, re-elect, appoint and remove all officers of the corporation and/or approve the election, re-election, appointment and removal of all officers of the corporation.”

“The sole member generally oversees the affiars of the organization and ensures that all actions of the organization are consistent with its exempt purposes. The sole member holds the following exclusive powers: adopt or amend the articles of incorporation and bylaws of the organization; adopt or amend the mission, purpose, philosophy or objectives of the organization; appoint the organization's board and remove any director or directors, with or without cause; fill any director vacancies on the board; determine and amend the number of directors to serve on the board; elect, re-elect, appoint and remove all officers of the organization and/or approve the election, re-election, appointment and removal of all officers of the organization; appoint, review and remove, with or without cause, the chief executive officer; appoint, review and remove, with or without cause, the management company; pay pensions and establish and carry out pension, retirement, benefit, incentive and compensation plans, trusts and provisions for any or all of its employees; establish a corporate spending limit; reject any budget approved by the organization; approve the incurrent of debt or capital expenditure by the organization in excess of $100,000 whether in a single transaction or a series of related transactions, if such debt or capital expenditure is not included in the organization's approved budgets; initiate and approve investment policies and strategic plans of the organization; authorize or adopt a plan of merger, consolidation, corporate reorganization, or the creation or dissolution of a new subsidiary or affiliate; authorize dissolution, division or liquidation of the organization; authorize the lease, sale, exchange, transfer or other disposition of substantially all of the organization's assets; select and appoint the banks, accountants, auditors and legal counsel of the organization. The sole member also holds the right to approve the following actions of the organization: purchases, sales and leases of property by the organization in excess of any corporate spending limit established by the member; borrowing by the organization in a principal amount in excess of any corporate spending limit established by the member, or for a stated term in excess of one year or which is secured by a mortgage of real property; any major change in the programs or services provided by the organization, including any creation of new programs or services or the discontinuation of existing programs or services; any major agreement or transaction with another affiliate of the member; acceptance of a contribution that imposes a material obligation on the organization.”

“The board directs that at least one board member, who serves on the finance committee, conduct the annual review of the form 990 and present it to the full board prior to being filed.”

“The board directs that officers, directors, and key employees annually disclose interests that could give rise to conflicts. The compliance officer is responsible for preparing quarterly reports to the board risk management committee that discloses actual, potential or perceived conflicts of interest. In the event that a conflict exists, the person is required to recuse himself or herself from participating in the decision.”

“The orgainzation does not compensate the organization's ceo or cfo. However, a related entity who compensates these individuals uses the following process: the board directs that the personnel & policy committee (p&pc) conduct the president's annual performance review and develop salary and compensation recommendations for full board approval. A comparative analysis of the president's annual compensation is reviewed by the p&pc using sources such as independent salary surveys, review of form 990s and other information as it is available. To ensure the independence and objectivity of the comparative review, the data and analysis is prepared by someone other than the president. In regards to other officers and key employees, the president performs a similar process using independent salary survey data to determine compensation. These processes were last undertaken in 2024.”

“Clark-lindsey village, inc.'s governing documents, conflict of interest policy, and financial statements are available upon request for public inspection.”

“Equity transfer -200,000.”

“The process for review and oversight of the audit process is consistent with prior years.”