Silver Maples of Chelsea

“Silver maples contracted with united methodist retirement communities, inc. To provide accounting, auditor interface, and 990 return preparation for silver maples, beginning august 1, 2015. These management services were discontinued in 2020.”

“The organization was formed by two members.”

“The board of directors shall consist of seven (7) to nine (9) directors. (a)three directors shall be deemed ex-officio directors with vote, and shall be the persons holding the position of president/ceo (or office of comparable rank and responsibility) of each of the two members and the corporation. (b) each member shall appoint no less than one (1) or more than two (2) additional directors; provided persons appointed as directors meet the respective member organization's criteria. (c) silver maples board will appoint two (2) community members. (d) other than the members, directors may not be employees or board members of any organization that operates senior living services or communities. Any exception must be approved by both member organizations. (e) directors, other than ex-officio directors, shall serve up to three two-year terms or until their successors are elected and qualified, not to exceed a total of six consecutive years of service, exclusive of periods served as an ex-officio director. (f) each member organization may elect to extend the term of one (1) director from that member organization for a fourth two-year term.”

“The corporate by-laws reserve specific powers to the members that are not delegated to the board of directors and include: approval of the annual capital and operating budgets for the corporation; approval of the selection and removal of the president/chief executive officer of the corporation; election of directors; approval of any borrowing; approval of any and all amendments or alterations of the bylaws or articles of incorporation; approval of any plans of merger, consolidation or dissolution of the corporation; approval of the formation or acquisition of new subsidiaries of the corporation or the sale or other disposition of existing subsidiaries; and approval of the sale, lease, mortgage or other disposition of substantially all of the assets owned, held, or leased by or to the corporation.”

“A copy of form 990 is sent to the board of directors for their review prior to the filing of the form. The ceo of the corporation and members of the united methodist retirement communities, inc. Finance team are available to answer questions.”

“Conflict of interest forms are required to be completed and submittted annually by all board members. These forms are then reviewed and any changes are monitored by the board and management.”

“The organization obtains data from similar organizations to compare compensation for the president/ceo. The board uses this information and votes on an annual basis. The president, who normally has a vote, does not vote on his/her own compensation.”

“SEE 15A.”

“Financial statements and form 990 are furnished upon written request. The chairpersons for the organization's independent living and assisted living attend all board meetings and are supplied with all information on the agenda.”

“Silver maples of chelsea retirement neighborhood is a vibrant community that excels at creating and supporting a positive aging experience. Silver maples of chelsea will promote enriching experiences to inspire personal growth, create opportunities to develop meaningful relationships among friends, family and community, and provide a healthy, secure and supportive place to call home. Our mission and vision is clearly aligned with our sponsors, the 5 healthy towns organization and united methodist retirement communities (umrc). The mission of the 5 healthy towns is to cultivate improvements in personal and community wellness. United methodist retirement communities promotes the wellness, dignity, and independence of older adults by providing high-quality and innovative residential and supportive services.”

“Villas & independent living - provide housing, meal plans, transportation, activities, and use of all common area facilities such as exercise rooms and workshop. Assisted living - provide housing, direct care, three meals and snack daily, transportation, and activities. The silver lining fund is a program conceived by and for residents of silver maples to provide financial assistance to any resident who outlives his or her financial assets, ensuring they always have a home at silver maples. Each donation to the silver lining fund has a direct impact on an individual in need. Silver maples hosts many events for the chelsea community. The monthly kaleidoscope concert series is organized by the silver maples community service group. We are one of the largest supporters of the chelsea senior center and participated in their festival of tables event. Silver maples hosts an annual evening of civil discourse for community members and elected officials. We host several chelsea artist guild and ann arbor artist guild art displays, as well as many chelsea rotary club and chelsea chamber events. Silver maples also participates annually in the chelsea heart and sole race, the annual walk for alzheimer's, and the annual run for the rolls. We also participate and support the annual chelsea chamber of commerce golf outing, chelsea rotary golf outing, the st. Louis center golf outing, and the local srsly coalition (which is a team of youth and adults working together to promote positive choices and prevent youth substance abuse), along with the st. Louis joseph mercy hospital's annual campaigns. We have residents that are members of service organizations, the chelsea garden club, the farm to table event in chelsea, the chelsea senior center, and the chelsea artists guild. Several residents also participate in the emerson school mentorship program and serve as readers for north creek elementary school. The ceo/executive director of silver maples is an active member of the rotary club of chelsea and serves on the board of the chelsea chamber of commerce. She also serves on the chelsea 2030 committee.”

“Interest rate swap loss -99,123”