Beverlycare

“A draft form 990 is prepared by an independent accounting firm, which is then reviewed by the executive director; adjustments are made, as necessary. The completed form 990 was then reviewed with the governing body of the board of directors, which occurred after filing with the internal revenue service.”

“Annually, each director and officer signs a statement affirming such person: (i) has received a copy of the conflicts of interest policy; (ii) has read and understands the policy; and (iii) has agreed to comply with the policy. In the circumstance that an interested person is connected to a possible conflict of interest, said person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of the committees with governing board delegated powers considering the proposed transaction or agreement. After disclosure of the financial interest and all material facts, and after discussion with the interested person, he/she shall leave the meeting until the governing board or committee decides if a conflict of interest exists, and if so, decides a verdict.”

“Compensation for the executive director was set at the same compensation received from her previous employer, beverly community hospital association. Beverly community hospital association utilized comparability data to determine the executive director's compensation in her then existing position (which is similar to her current role); however, no review or approval of the executive director's compensation by independent persons has been completed yet in relation to her duties at beverlycare. The organization does not compensate any additional officers or key employees (by definition of the form 990 instructions). Accordingly, form 990, part vi, section b, line 15b has been answered "no".”

“The organization's governing documents, conflict of interest policy, and financial statements are made available to the public upon request.”