Franklin-Williamson Properties Inc

“The sole stockholder of the corporation is centerstone of illinois, inc., an illinois nonprofit corporation.”

“Centerstone of illinois, inc. Is entitled to appoint at least one board director as specified in the bylaws of the coporation.”

“The following decisions are to be ratified by centerstone of illinois, inc. Prior to action: formation or acquisition of legal entities by the corporation; amendment of the charter or bylaws of the corporation; approval, acceptance, amendment or termination of contracts of the corporation to provide services outside the historical lines of business or services engaged in by the corporation; and adoption and amendment of the statement of the mission of the corporation.”

“The process of reviewing the form 990 entails a detailed review of the form 990 by the organization's chief executive officer, chief financial officer, corporate controller, and the centerstone of america's board of directors. The form 990, including requested schedules, as ultimately filed with the irs, are provided electronically to each voting member of the organization's governing body prior to filing.”

“The board has adopted a written conflict of interest policy. On an annual basis board members complete a board expectations letter in which the members affirm that they are aware of the conflict of interest policy and that they have reported any potential conflicts of interest. Further, the board has adopted a policy which requires board members to complete a conflict of interest acknowledgement and disclosure form on an annual basis. In addition, the chair inquires at the beginning of each meeting if board members have any new or potential conflicts of interest that have arisen since the previous board meeting necessitating disclosure. For employees, the company's code of conduct contains a written conflict of interest policy. Employees are required to certify on an annual basis that they have read and will abide by the conflict of interest policy. Further, senior executives of the company are required to complete a conflict of interest acknowledgement and disclosure form on an annual basis.”

“In 2021 centerstone of america contracted with a third party consultant to conduct an assessment of the behavioral health marketplace ceo compensation and provide recommendations to the organization's board of directors in forming a compensation package for the ceo of centerstone of america, inc. As a result, the compensation package of centerstone of america's ceo was updated in 2023 to reflect the current market rates. The ceo's compensation package is reviewed by the board of directors on an annual basis. Compensation for the ceos of the centerstone affiliated organizations is determined by the ceo of centerstone of america utlitizing compensation surveys available from the industry's two major associations, and is subject to review by the centerstone of america board on an annual basis. Executive compensation packages were reviewed and adjusted to market as needed during the 2020 tax year.”

“The organization's form 1023 and form 990 are available for public inspection upon request.”

“The governing documents and conflict of interest policy are available for public inspection upon request; however, the financial statements are not available for public inspection.”

“Franklin-williamsons properties is part of centerstone of illinois and centerstone of illinois is the sole corporate member of franklin-williamson properties, inc. For the 2024 tax year ended june 30, 2024, centerstone of america and its affiliates earned gross revenue of $378 million. Centerstone is a nonprofit health system providing mental health and substance use disorder treatments. Services are available in florida, illinois, indiana, north carolina, and tennessee through the operation of outpatient clinics, residential programs, school-based services, telehealth, and an inpatient hospital. Centerstone also offers specialized programs available nationwide for the military community, as well as services for children, including therapeutic foster care. Centerstone's institute provides guidance through research and technology, leveraging the best evidence-based practices for use across our communities. Centerstone's foundation secures philanthropic resources to support the work and mission of delivering care that changes people's lives. Centerstone provides care for more than 110,000 individuals and families annually, and is accredited by carf and the joint commission.”