Norwood Senior Network Association

“Norwood management company provides strategic direction and critical management services including executive, administrative, and financial functions to norwood seniors network association.”

“The cfo reviewed the 990 and shares with the finance committee of the board of directors and it is distributed to all board members.”

“On an annual basis the policy is reviewed. All board members and key employees complete an updated conflict of interest disclosure. Any disclosures are reviewed by the executive committee of the board of directors. At each board and committee meeting the agenda is reviewed by all members and staff. Any conflicts of interest are disclosed and those with a conflict are not involved in any decisionmaking regarding items of conflict.”

“The organization participates in a wage and benefits survey conducted by our state association (leading age illinois). This data is used to determine the compensation for management and key officials. The goal is to be 10% of the mid point of compensation from our geographical area. 990s of other organizations within our industry are also reviewed for compensation data. The executive committee of the board of directors approves the ceo's salary. Other managmeent and key official salaries are included in the budget which is approved by the board of directors and reviewed in detail by the ceo.”

“Summary financial information is included in the organization's annual report. Audited finacial statements are provided to any party who makes a request. The governing documents and conflict of interest policy are available upon request and distributed to any party who makes an inquiry. Tax returns are available on guidestar and provided to anyone who makes a request.”

“Transfer of net assets from affiliate 400.”

“The finance committee assumes responsibility for the oversight of the audit and the selection of an independent accountant.”