Augsburg Lutheran Home of MD Inc

“National lutheran, inc. (ein 47-2584315), the parent entity, provides financial and management functions for the organization.”

“Augsburg ceased ccrc operations as of 12/31/2023. The organization's articles of incorporation were amended for the organization to function as a foundation and provide charitable support for the healthcare, housing, general care and wellbeing of aged persons.”

“National lutheran, inc. Is the sole member of the filing organization.”

“National lutheran, inc., the sole member of augsburg acorn foundation, has the right to vote and elect members of the filing organization's board of trustees. The member also reserves the right to remove any trustee with or without cause.”

“Approval of the following matters is reserved exclusively to the membership. The membership may initiate and implement any proposal with respect to any of the following and, if any proposal with respect to any of the following is otherwise initiated, it shall not become effective unless approved by the membership. A. Approval of the role and/or mission statement, if any; b. Approval of operating and capital budget; c. Approval of amendments to the articles of incorporation or bylaws.”

“The finance department staff of the parent, national lutheran, inc. Performs an initial review of the form 990. Upon approval, the form 990 is made available to each board member for review and approval at a board meeting prior to transmission of the return to the irs. National lutheran, inc.'s board will receive a copy of the return prior to the irs filing as well.”

“Board members and key employees sign a conflict of interest statement each year. If a conflict is identified, it is 1) identified and discussed with the board and 2) reviewed and documented by management. If an actual or potential conflict is identified, the board member, officer, or employee will recuse him or herself from any conversations, decisions, or other activities and discussions involving the conflict. Family and business relationships are expressly mentioned in the conflict of interest policy as potential sources of conflicts with interested persons.”

“The organization's ceo is paid by national lutheran, inc. (nli). Nli's board determines the compensation for the ceo through the combined use of several methods. The nli executive committee serves as a compensation committee which oversees the process. The ceo, executive director, and vice president of talent & culture use salary surveys to determine the compensation for other officers and key employees to assure they are within the local market range. The services the individual provides to the organization and the tenure of the officer are also factors considered in salary determinations. Once the executive committee gives its approval, its decisions are noted at the board level.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request and at no cost.”

“Augsburg ceased ccrc operations as of 12/31/2023. The organization's articles of incorporation were amended for the organization to function as a foundation and provide charitable support for the healthcare, housing, general care and wellbeing of aged persons.”

“Equity transfer -4,845,571.”

“Augsburg acorn foundation did not have any fundraising expenses at the community level, rather these expenses are remitted from investment assets held by the parent organization, national lutheran, inc.”