Lutheran Senior Services

“The members of the corporation (the "members") shall be those lutheran congregations located within a radius of approximately 150 miles from st. Louis missouri, which apply for and are admitted into membership in accordance with these bylaws. For purposes of these bylaws, "lutheran congregation" shall refer to a member congregation of either the lutheran church-missouri synod or the evangelical lutheran church in america.”

“The governing board members are elected by associated churches.”

“The merger (other than a merger in which the corporation is the surviving entity), dissolution, or sale or disposition of all, or substantially all, of the assets, of the corporation shall require the vote of the lesser of two-thirds of the members of the corporation present at a duly called and convened meeting of the members and a majority of all of the members. The members may at any time and for whatever reason or cause, as they may deem best in their sole discretion, remove any voting director by a two-thirds majority vote of all the members present at a duly called and convened meeting of the members.”

“The governing body is provided a copy of the form 990 for review prior to filing. Approval of the form 990 is delegated to the audit committee of the governing body prior to filing.”

“All directors, officers and key employees will disclose a conflict of interest on the "conflict of interest form" in the following situations and in other circumstances which he/she thinks might cause a conflict between his/her personal interests and his/her fiduciary duty: financial interests, inside information, conflicting interest other than financial, gifts and favors. The following lss employees are required to sign a "conflict of interest form" annually: president, chief operating officer, chief financial officer/treasurer, vice president of construction and it, vice president of human resources, all directors, administrators and assistant administrators. The corporate compliance officer follows up with any conflicts of interests and documents the resolutions of the conflicts. These forms are kept by the corporate compliance office.”

“The board of directors established a separate compensation committee charged with performing an annual performance review of the ceo and reviewing the ceo's compensation package. The compensation committee engaged a third-party global human capital consulting firm to: (1) develop an annual ceo performance review process, including a new evaluation form, and (2) develop a compensation package based on its knowledge of similarly sized non-profit organizations in order to ensure that the compensation paid to the ceo is reasonable. All members of the board complete an annual evaluation, which the compensation committee summarizes and reviews. The compensation committee then makes a recommendation to the full board of directors for any compensation adjustments.”

“Although not a requirement, the organization provides photocopies of its governing documents, conflict of interest policy, financial statements, and other documents to all who request one or more of the items.”

“Lutheran senior services is a large complex organization that is comprised of 18 separate legal entities, each of which files its own tax return. Due to the requirements for completing these 990's (which are filed by 15 of the 18 lss entities), some of the information contained within the form, such as revenue and expenses, is related only to that particular entity. However, some of the information, such as executive compensation, relates to the entire organization. To help make this information more meaningful, the following paragraph provides a summary of the overall operations of lss. Lutheran senior services is a not for profit organization owned by 104 lutheran churches and was initially founded in 1858. Lutheran senior services operates ten senior living communities serving over 3,000 older adults, eight affordable housing communities serving over 570 older adults and a variety of in home services programs serving over 5,000 older adults. In 2020, lss had total operating income of approximately $227,000,000, provided approximately $12,291,000 in benevolent care, had nearly 28,000 volunteer hours and employed 18 chaplains.”

“Net periodic pension cost -340,747. Change in value of interest rate swap -1,812,807. Other changes in plan assets and benefit obligations -906,841. Mackenzie place htc 506,885.”

“The organization has an audit committee that is responsible for the oversight of the audit. This process is consistent with prior years.”

“The management fee expense represents only intercompany charges that are offset by management fee revenues included in program service revenues on page 9.”