Augsburg Lutheran Village Inc

“Dissolution - On December 26, 2019, the dissolution of Augsburg Lutheran Village, Inc. (the Village) was approved by the State Department of Assessments and Taxation of the State of Maryland. Augsburg Lutheran Home, Inc. (52-0696196)(the Home), as the sole stockholder of the Village, assumed all assets and liabilities of the Village. Net assets of ($6,417,005) were transferred to the Home.On January 1, 2020, with the approval of the Maryland Department of Aging and with the consent from the Board of Trustees of both National Lutheran, Inc. d/b/a National Lutheran Communities & Services ("NLCS") and the Home, Augsburg became an affiliated entity of NLCS known as "The Village at Augsburg, A National Lutheran Community".”

“Delegates to Augsburg vote and approve new board members at the annual meeting.”

“Delegates to Augsburg vote and approve changes to bylaws at the annual meeting.”

“Form 990 is reviewed by the Finance and Audit Committees prior to filing; Board of Directors then approve Form 990 prior to filing the return.”

“Annually, each board member signs a conflict of interest policy statement.”

“The Board of Directors prepare the annual evaluation for the Executive Director. The Board Chair surveys the entire Board for their feedback on his performance. The Executive Committee of the board approves the merit increase. Comparability data is also used to determine Executive Director's compensation. All Directors report to the Executive Director and he prepares the annual evaluations for the key directors who are the Administrator and the Director of Finance/Administration (Treasurer).”

“All board members are sent a questionnaire about the Executive Director's performance which is returned to the Board Chairman. The Executive Committee of the board uses these comments to prepare the annual review for the Executive Director.”

“The 990 tax form and financial statements are available upon request. The financial statements are given as part of the resident contracts at the time of admission.”

“Net asset deficit transferred to affiliate 12/26/2019 = $6417005”