Clark Retirement Community Foundation

“Clark retirement community, inc. Is the sole member of the corporation.”

“Clark retirement community, inc., the sole member, has the ability to appoint board members.”

“The corporation's board of trustees may not undertake the following actions without the approval of clark retirement community, inc., the sole member: a) change the corporation's strategic plans or purposes; b) amend the corporation's articles of incorporation or bylaws; c) sell, transfer or dispose of the corporation's assets or investments, or cause the corporation to purchase assets or make an investment, in a single transaction or series of integrated transactions with a value in excess of an amount established from time to time by the member's board; d) adopt the corporation's annual capital and operating budgets and approve deviations from line items in the budget in excess of an amount established from time to time by the member board; e) incur or guarantee debt of the corporation in excess of an amount established from time to time by the member board; f) appoint or remove the members of the corporation's board of trustees; g) approve the corporation's participation in any new joint venture with a person or entity not controlled directly or indirectly by the member, whether such activities are conducted through the use of a corporation, partnership, or other form of organization; and h) approve any material change in the corporation's investment policy.”

“Review of the organization's form 990 prior to the filing of the return is made by an officer of the managing agent of the organization. The form 990 is also reviewed by the board of directors and an independent accounting firm prior to filing.”

“On an annual basis, the board is required to complete a conflict of interest document. These documents are reviewed annually to ensure compliance. When a conflict of interest is identified, the individual with the conflict of interest with clark retirement community can not influence in any way and must abstain from voting on any outcome related to the conflict of interest.”

“The ceo, cfo and other top management officials' compensation is determined and paid by the parent organization, bhi retirement communities. The personnel committee recommends salaries of the ceo, cfo, and top management officials to the board of directors for approval. The committee reviews salaries in the context of similar not-for-profit organizations, performance and job descriptions. This process was last conducted november of 2024.”

“Governing documents, conflict of interest policy and financial statements are available to the public upon request. Additionally, portions of the financial statements are included in the annual disclosure statement.”

“Consulting services: program service expenses 0. Management and general expenses 0. Fundraising expenses 292,702. Total expenses 292,702.”

“Change in interest of charitable foundation -738,501.”

“There has been no change in process from the prior year.”