Alverna Apartments

“The organization's sole corporate member is catholic health initiatives, a colorado nonprofit corporation.”

“According to the organization's bylaws, directors shall be appointed or refused by the corporate member. The corporate member may appoint one or more individuals to the board of directors, and may at any time remove, with or without cause, any member of the board of directors. According to the organization's bylaws, directors of the corporation shall be appointed by the corporate member no later than june 30 of each year. The names and qualifications of each individual accepted by the board of directors shall be submitted to the corporate member, who shall appoint or refuse each nominee in accordance with the corporate member's bylaws and with endorsement of the senior vice president of operations. The corporate member may unilaterally appoint one or more individuals to the board of directors should the board fail to furnish the corporate member with a list of individuals qualified to serve on the board of directors of the corporation.”

“The organization's corporate member is catholic health initiatives ("chi"). Pursuant to article v, section 5.4 of the organization's bylaws, the corporate member shall have the specific rights set forth in the governance matrix. Pursuant to the governance matrix the following rights are reserved to the chi board directly or through powers delegated to the chi chief executive officer: - substantial change in the mission or philosophy of alverna apartments - amendment of the corporate documents of alverna apartments - approve members of alverna apartments board - removal of a member of the governing body of alverna apartments - approval of issuance of debt by alverna apartments - approval of participation of alverna apartments in a joint venture - approval of formation of a new corporation by alverna apartments - approval of a merger involving alverna apartments - approval of the sale of all or substantially all of the assets of alverna apartments - to require the transfer of assets by alverna apartments to chi to accomplish chi's goals and objectives, and to satisfy chi debts - adoption of long range and strategic plans for alverna apartments pursuant to article v, section 5.5 of the organization's bylaws, chi may, in exercise of its approval powers, grant or withhold approval in whole or in part, or may, in its complete discretion, after consultation with the board and the president and chief executive officer of the organization, recommend such other or different actions as it deems appropriate.”

“After the form 990 is prepared by the chi tax department, the unity family healthcare cfo/vp of finance reviews a copy of the return and provides copies to the board members at the next finance, audit and compliance committee meeting. Copies will be posted to the board portal for all remaining board members' review from administration. Subsequent to the return being provided to the board, the tax department files the return with the appropriate federal and state agencies, making any non-substantive changes necessary to effect e-filing. Any such changes are not re-submitted to the board.”

“The organization's conflict of interest policy covers all directors and officers who are members of the board of directors or members of any board committee. Each director must promptly and fully report to the board chair situations that may create a conflict of interest when he or she becomes aware of such situations. In the case of an officer, disclosure must be made to the organization's president and chief executive officer, who will report such disclosure to the board chair. In any situation where a director of officer is in doubt, full disclosure should be made so as to permit an impartial and objective determination. A written record of the disclosure will be made. In addition to the ongoing disclosure obligation, the organization's president and chief executive officer annually sends all directors and officers a copy of the conflict of interest policy and disclosure statement. The directors and officers must promptly complete, sign, and return the statement to the organization's president and chief executive officer. The completed statements are reviewed by the president and chief executive officer and the board chair. The board chair makes further investigation of conflict of interest disclosures as he/she deems appropriate.”

“The organization's ceo's compensation is paid by catholic health initiatives (chi), a related organization. Chi has a defined compensation philosophy. Both the executive and non-executive compensation structures and ranges are reviewed annually in comparison to market data. Chi uses the hay group as the independent third party to assess executive compensation programs and to ensure the reasonableness of actual salaries and total compensation packages. Compensation of the senior most executives is reviewed annually. The hay group reviews both cash and total compensation for overall reasonableness, for adherence to chi's compensation philosophy, and for comparability to the not-for-profit healthcare market. This independent review is delivered by hay group to the hr committee of the chi board of stewardship trustees annually at their september meeting and minutes are shared with the full board at the december meeting. The last review was september 18, 2014. In addition, in december 2009, hay group completed a comprehensive review of all positions at the level of vice president and above to determine and validate appropriate compensation levels. These levels have been reviewed annually since and revised based on market data, where applicable.”

“During the tax year ended 6/30/14, no officers, directors or trustees received compensation from the organization. Any executive compensation paid to officers, directors or trustees by related organizations was set by the related organization's compensation committee utilizing both an independent consultant and comparability studies to determine compensation. Therefore, these questions are more appropriately answered as n/a.”

“The organization's financial statements are included in catholic health initiatives' consolidated audited financial statements that are available at www.catholichealthinit.org or at www.dacbond.org. The organization's conflict of interest policy and governing documents are not publicly available.”

“Introduction: alverna apartments mission, vision and tax-exempt purposes the mission of alverna apartments is to nurture the healing ministry of the church, supported by education and research. Fidelity to the gospel urges us to emphasize human dignity and social justice as we create healthier communities. The vision for alverna apartments is to create the best possible residential experience by igniting the spirit for superior care and service. The purposes of alverna apartments are exclusively charitable within internal revenue service codes and regulations as well as related provisions of minnesota state law. Specifically, it is a 501(c)(3), not-for-profit corporation formed to construct and maintain housing facilities for the elderly and handicapped, and has been specially designed to meet their physical, social and psychological needs and to promote their health, security and happiness where no adequate housing facilities exist for such purposes. In addition, it was formed to assist in carrying out the healing ministry of its founders-the franciscan sisters of little falls-and its current sponsor catholic health initiatives. Alverna apartments is a 60-unit, senior housing complex subsidized by the u.s. Department of housing and urban development (hud). It offers a secure living environment in which tenants can pursue optimal independence and foster connections to the community. Alverna participates in the hud program and is rated according to various quality indicators. Finally, alverna apartments engages in community outreach activities such as scheduling assistance with tax preparation for seniors, conducting health screenings and participating in community health fairs. Board of directors the board of directors for alverna apartments is an 11-member governing board, the majority of which are independent individuals who serve as representatives of the community. The board oversees the operations of alverna apartments. Alverna apartments has a management contract with metroplains management, llc, a property management company that provides long-term, full-service property management services, overseeing affordable senior and multi-family housing units in several states. Metroplains management strives to meet the goals of owners while providing the best possible environment for residents and tenants in the facilities the firm manages. Metroplains' overall goal is to maximize the satisfaction of the occupants of each development, while maintaining the value of the properties it manages. Qualitative description of community benefit: all applicants must be age 62 or older. Only one person needs to be qualified for a couple to be eligible. Alverna apartments serves all persons in the community on a non-discriminatory basis and does not discriminate on the basis of any non-merit factor, including race, national origin, color, religion, sex, sexual orientation, gender identity, disability (physical or mental), age, status as a parent, or genetic information. For the comfort of people with disabilities, six apartments have been specially designed for easy accessibility. Applicants with extremely low income are given priority consideration for occupancy. Rent ranges from $748 to $942 monthly. During the fiscal year ending june 30, 2014, alverna apartments housed 61 different tenants for a total of 18,199 apartment days. Qualitative description of community benefit continued: as previously stated, rental assistance applicants with extremely low income are given priority consideration for occupancy. Financial assistance is available through hud. As a hud-subsidized, section 8/202 (elderly property), the amount of rent that a tenant is required to pay is determined by using a formula, which includes the gross income (including income from assets), and out-of-pocket medical expenses for all persons in the household. The out-of-pocket medical expenses are deducted from gross income (minus 3% of the gross income), which leaves the adju”

“Other fees for services - total expense: 92570, program service expense: 85377, management and general expenses: 7193, fundraising expenses: ;”