Lutheran Hillside Village Foundation

“The organization delegates management duties including supervising personnel, operations, and budgeting to lutheran senior services, the parent company.”

“The organization merged with lutheran senior services endowment fund effective december 31, 2022.”

“The sole member of the foundation shall be lutheran hillside village, inc., an illinois nonprofit corporation whose sole member is lutheran senior services, a missouri nonprofit corporation”

“The governing board members are elected by the sole member (lutheran senior services) of the foundation's sole member, lutheran hillside village, inc.”

“The following powers are reserved to the member: (a) to approve the election of the foundation's president and board of directors. (b) to approve amendments to the articles of incorporation of the foundation and to these bylaws. (c) to approve proposals for annual operating and/or capital budgets and strategic plans for the foundation (d) to approve the foundation's management of funds the following powers are reserved to lutheran senior services (as the sole class i member of the member): (a) to approve the election of the foundation's president and board of directors. (b) to approve amendments to the articles of incorporation of the foundation and to these bylaws. (c) to approve proposals for annual operating and/or capital budgets and strategic plans for the foundation (d) to approve the foundation's management of funds”

“Review and approval of the form 990 has been delegated to the audit committee of the board of directors of the parent organization, lutheran senior services, prior to being filed.”

“All directors and employees will disclose a conflict of interest on the "conflict of interest form" in the following situations and in other circumstances which he/she thinks might cause a conflict between his/her personal interests and his/her fiduciary duty: financial interests, inside information, conflicting interest other than financial, gifts and favors. The following lss employees are required to sign a "conflict of interest form" annually: president, chief operating officer, chief financial officer/treasurer, vice president of construction and it, vice president of human resources, all directors, administrators and assistant administrators. The corporate compliance officer follows up with any conflicts of interests and documents the resolutions of the conflicts. These forms are kept by the corporate compliance office.”

“The filing organization did not compensate any officers, directors or key employees. The compensation process used by the parent organization, lutheran senior services, who issues the w-2s is as follows: the board of directors established a separate compensation committee charged with performing an annual performance review of the ceo and reviewing the ceo's compensation package. The compensation committee engaged a third-party global human capital consulting firm to: (1) develop an annual ceo performance review process, including a new evaluation form, and (2) develop a compensation package based on its knowledge of similarly sized non-profit organizations in order to ensure that the compensation paid to the ceo is reasonable. All members of the board complete an annual evaluation, which the compensation committee summarizes and reviews. The compensation committee then makes a recommendation to the full board of directors for any compensation adjustments.”

“Although not required, the organization provides photocopies of its governing documents, conflict of interest policy, financial statements, and other documents to all who request one or more of these items.”

“Lutheran senior services is a large complex organization that is comprised of 18 separate legal entities, each of which files its own tax return. Due to the requirements for completing these 990's (which are filed by 15 of the 18 lss entities), some of the information contained within the form, such as revenue and expenses, is related only to that particular entity. However, some of the information, such as executive compensation, relates to the entire organization. To help make this information more meaningful, the following paragraph provides a summary of the overall operations of lss. Lutheran senior services is a not for profit organization owned by 104 lutheran churches and was initially founded in 1858. Lutheran senior services operates ten senior living communities serving over 3,000 older adults, eight affordable housing communities serving over 570 older adults and a variety of in home services programs serving over 5,000 older adults. In 2022, lss had total operating income of approximately $224,000,000, provided approximately $11,707,000 in benevolent care, had nearly 35,500 volunteer hours and employed 16 chaplains.”

“The organization merged with lutheran senior services endowment fund, a related organization effective december 31, 2022.”

“Valuation adjustment to gift annuities -253,788. Equity transfer due to merger -10,862,036.”

“The organization has an audit committee that is responsible for the oversight of the audit. This process is consistent with with the prior years.”

“This is the organization's final return since it will be merging with its parent entitiy, lutheran senior services. An equity transfer will occur closing out this year's balance sheet.”

“The organization's payroll is processed with lutheran senior services, the parent company. Forms w-3 and w-2 were not issued by lutheran hillside village foundation as of december 31, 2022. The organization did pay the salaries, employment taxes, and employee benefits for the organization's employees. As of december 31, 2022 the organization had 2 full-time employees.”