Lutheran Retirement Home

“The organization does not have any committees that have authority to act on behalf of the governing body.”

“Administrator reviews the return and then discusses with the board.”

“The conflict of interest policy applies to all directors, officers, and key persons of the organization. "key person" is defined as anyone who has responsibilities or influence similar to directors and officers, manages significant segments of the organization, or controls substantial capital expenditures or budgets. Potential conflicts must be disclosed in writing to the audit committee as soon as they are identified and before any related actions are taken. Annual disclosure statements are also required, and directors must submit these prior to their initial election. The audit committee reviews disclosures and determines whether a conflict of interest exists. The individual with the potential conflict must not be present for deliberation or voting and must not attempt to influence the determination. If a conflict is found, the matter is referred to the board of directors for further action. Individuals with a conflict must not be present during board or committee discussions or votes on the matter and must not attempt to improperly influence the process. For related party transactions, the conflicted person must make a good faith disclosure of material facts, and the board or authorized committee must determine that the transaction is fair, reasonable, and in the organization's best interest. The organization is prohibited from making loans to any director or officer. No person may participate in discussions or votes regarding their own compensation, the compensation of their relatives, or anyone who can directly affect their financial interests. The minutes of any board meeting where a conflict or potential conflict is discussed or voted upon must include: the name of the interested party and the nature of the interest the decision as to whether the interest presented a conflict any alternatives to the proposed transaction considered by the board if the transaction was approved, the basis for approval for compensation decisions, documentation must include terms, date, attendees, comparability data, and any actions regarding conflicts of interest in the process”

“The board of directors determines the saslary of the administrator by doing an area market survey of other nursing homes in the area. They compare salaries, benefits and experience of the administrators and from this survey and discussions they determine and set the administrator's salary for lutheran retirement home.”

“Lutheran retirement home makes all of their governing documents, policies, financial statements and form 990 tax return available at any time to the pubic.”

“Contract nursing: program service expenses 820,855. Management and general expenses 761. Fundraising expenses 0. Total expenses 821,616. Other fees: program service expenses 129,407. Management and general expenses 81,384. Fundraising expenses 0. Total expenses 210,791.”

“Change in cash value of life annuity -1,131.”