The Scan Foundation

“The bylaws were amended to provide that the treasurer and secretary shall be board members and that as long as they serve in those positions, they will also serve as the chair of the finance committee and governance committee, respectively.”

“The form 990 is prepared by deloitte tax, working in conjunction with the scan foundation executive team and director of finance. The scan foundation's director of finance has direct responsibility for this effort, subject to supervision by the vice president of programs and operations and the president/ceo of the foundation. After an initial draft of the form 990 is prepared, it is circulated for review and comment by relevant members of the executive team who have responsibility for and/or knowledge regarding the various matters disclosed and/or described in the form. The general counsel, in particular, reviews the form 990 and ensures accuracy of descriptions and that disclosure is complete. The draft form 990 is reviewed in pertinent part by the compensation committee of the board, and the form 990 is reviewed in its entirety by the audit committee of the board of directors of the scan foundation. All members of the board of directors receive a copy of the form 990 after it is prepared for filing, prior to filing.”

“The scan foundation regularly and consistently monitors and enforces compliance with its conflict of interest policy through annual circulation of a conflict of interest questionnaire which all members of the board of directors, officers and all members of the staff must complete and sign. The foundation's general counsel assists in monitoring the conflicts of interest questionnaire, and advises regarding adherence to these policies on an ongoing basis.”

“The process for determining the compensation of the president & chief executive officer (ceo) of the scan foundation is conducted by the compensation committee of the board of directors of the scan foundation, all the voting members of which are independent persons. In determining the compensation of the president & ceo, the compensation committee works with and relies upon the counsel and expertise of an outside compensation consultant with well- established experience and expertise in the area of nonprofit organization executive compensation and compliance with the intermediate sanctions requirements applicable to such compensation. The compensation consultant provides an executive compensation report to the compensation committee each year which furnishes the basis for determining the president & ceo's compensation package during the following year. The executive compensation report is based on a review of the executive compensation practices of a variety of organizations considered comparable to the scan foundation based upon certain industry standard metrics. The compensation committee deliberates on the issue of the president & ceo's compensation package in consideration of the executive compensation report. Questions are asked of, and answered by the compensation consultant, regarding such report and other matters relevant to such package. Based on such deliberations, the compensation committee makes a recommendation to the board of directors of the scan foundation regarding the compensation package for the ceo for the following year. The full board of directors of the scan foundation deliberates on and then votes on such recommendation; the president & chief executive officer is recused for the entirety of such deliberations and vote. The minutes of the compensation committee and the board of directors for these meetings are prepared substantially contemporaneously and document such deliberations and decisions. The outside compensation consultant providing the executive compensation report and guidance related to the 2021 salary package was sullivan cotter. The process for determining the compensation of officers or other key employees of the scan foundation is conducted by the human resources department, the chief executive officer and the compensation committee of the board of directors of the scan foundation, all of the voting members of the committee are independent persons. In determining each employee's compensation, the human resources department and compensation committee work with and rely upon the counsel and expertise of an outside compensation consultant with well-established experience and expertise in the area of non-profit organization executive compesation and compliance with the intermediate sanctions requirements applicable to such compensation. The compensation consultant provides an executive compensation report to the human resources department and compensation committee every year which furnishes the basis for the establishment of such employees' compensation package during the following year. The executive compensation report is based on a review of the executive compensation practices of a variety of organizations that are considered comparable to the scan foundation based on various metrics. The president & ceo makes a recommendation to the compensation committee with respect to each of such employees' compensation package in light of the executive compensation report. At the compensation committee meeting addressing such matters, questions are asked of, and answered by the compensation consultant regarding such report and other matters relevant to such package; pursuant to their deliberations, the compensation committee makes (1) a decision regarding the compensation package for such employees other than treasurer and (2) a recommendation regarding the treasurer's compensation package, for the following year. The minutes of the compensation committee for this meeting are prepared substantially”

“The scan foundation governing documents and conflict of interest policy are not made available to the public. The scan foundation makes its form 990, which contains financial information, available for public inspection. The scan foundation's audited financial statements are also made available for public inspection.”

“Our work in supporting these various service and advocacy organizations culminated in our 11th annual forum, "amplifying all voices in aging." the four-week series championed stories of the diverse aging experience through engagement with health and community care systems and was our largest to date with 600 people participating virtually. The event received positive feedback, especially the fourth and final session, which included a futuristic discussion on equitable aging, particularly in light of perspectives reshaped by the covid-19 crisis. Thematic goal 2: build resilience and capacity inspire and enable entrepreneurs and innovators to design with older adults not just for them and create new offerings that embrace the beauty of life as we age. Goal 2 successes: 2021 was the first full year of operations for alive ventures, a for-profit subsidiary venture studio funded by the foundation. The goal of alive ventures is to partner with great entrepreneurs to develop products and services that help our relationships grow stronger, more joyful, and better with age. In 2021, alive ventures built a community of older adults and engaged them in co-design sessions and elder advisory committees to gather insights, test and refine products, and guide entrepreneurs. The studio piloted its first entrepreneur in residence program with three entrepreneurs and explored solutions in vitality and friendship. Two reports on older adult insights and market opportunities were also finalized for public dissemination. Thematic goal 3: drive responsive financing policies support and encourage responsive federal and state financing policies to create meaningful care choices for older adults of today and tomorrow. Our third thematic goal acknowledges that the vast majority of older adults will need some daily living support as they age. The likelihood that any individual might need ltss is quite variable, with approximately 20 percent of older adults never requiring support while a slightly lower percentage will need high levels of care for five or more years. These costs can be quite substantial, and for many older adults living on fixed incomes, they can easily overwhelm remaining savings and other available resources. Compounding this problem is people's misperceptions about the likelihood of needing ltss as they age. As a result, there is little demand for an alternative solution. The largest sources of spending today are personal/out of pocket, then medicaid. Goal 3 successes: our partnership with bipartisan policy center (bpc) offered us opportunities to elevate our priorities to the highest branches of government. Bpc provided memos to the biden transition team highlighting policy solutions to improve care for those with complex care needs. These were also shared with hill staff of relevant committees. Recommendations included ways to: improve and build an evidence-base for special supplemental benefits for the chronically ill (ssbci) in medicare advantage, expand nonmedical benefits in medicare fee-for-service, promote medicare-medicaid integration, streamline the home and community-based services (hcbs) waiver process, and improve medicaid-buy in programs for workers with disabilities. With our support, bpc also helped to advance dialogue around long-term care financing solutions. They released a report, "bipartisan solutions to improve the availability of long-term care," at a highly anticipated virtual event in september, outlining policy recommendations including new proposals to expand the availability of home and community-based services for low- and middle-income individuals. We continued our work with ati advisory (ati) and the long-term quality alliance (ltqa) to advance implementation of the medicare special supplemental benefits for the chronically ill (ssbci). In 2021, they highlighted immediate and longer-term actions policymakers, including the centers for medicare & medicaid services (cms) and congress, can take to advance s”

“Investments - program related include both mission impact investments ("miis") and program investments ("pis"). Mission impact investments ("miis") are part of the foundation's portfolio of program activities, in addition to grant making and program expenses, with the primary purpose to advance the foundation's mission. Miis are investments in securities of companies that offer products or services that further the foundation's mission while offering a reasonable rate of return commensurate with the risk associated with the investment. While obtaining a market rate of return is a significant objective, it is not the primary objective. These equity investments are recorded at cost and separately from the foundation's primary investments portfolio. Program investments ("pis") are made in addition to traditional grants and external program expenses. During 2021, the foundation invested $2,000,000 into alive ventures to further its objective of creating brands, products and services that help enrich the lives of older adults. Alive ventures' mission directly aligns with the mission and strategic goals of the foundation, and all of the investment into alive ventures was funded out of the foundation's programmatic budget.”

“Unexpended grants 44,460.”

“Unexpended portions of grants: the scan foundation keeps track of its grantee's spending to ensure that the dollars are spent towards the intended grant purposes. If a project spends less than the initial grant amount, the scan foundation writes off the remaining amount or the unspent funds are refunded to the scan foundation.”