Argentum

“A copy of the federal form 990 is provided by the accounting firm and is reviewed by the president/ceo and chief financial officer prior to the filing of the 990 with the internal revenue service.”

“It is the policy of argentum to assure that conflicts of interest or potential conflicts of interest involving directors and officers of argentum are fully disclosed if the occasion should arise. Each director and each officer must promptly report to the board chair and the president/ceo any situation which might create a conflict of interest. In addition, each director must execute a conflict of interest disclosure statement at least annually. Procedures: 1. The material facts of any matter may result in a conflict of interest or possible conflict of interest on the part of a director or officer must be disclosed by the director or officer to the board chair and the president/ceo of argentum, either through the annual disclosure statement or when the interest becomes a matter of board action. 2. The board of directors shall carefully scrutinize and in good faith approve or disapprove any transaction in which argentum is a party and in which one or more of argentum's directors or officers has a material financial interest. Any individual having a conflict of interest or possible conflict of interest on any matter should not vote nor use personal influence on the matter. The minutes of the meeting should reflect that a disclosure was made and that the director abstained from voting. The board of directors must approve the transaction by a majority vote, without counting the vote of any director who has an interest in the transaction. 3. The foregoing requirement should not be construed as to prevent an individual from briefly stating his or her position in the matter, nor from answering pertinent questions from board members, as his or her knowledge may be of great importance. 4. Argentum shall not engage in any transaction with another entity which has one or more directors or officers in common with argentum, unless after the common director or officer discloses the material facts of the transactions and the details of his or her affiliation with the other entity. Argentum's board of directors approves the transaction in good faith by a majority vote without counting the vote of the common director. 5. Argentum shall make no loans of money or property to a director or officer, nor shall argentum guarantee any obligation of a director or officer, except as otherwise expressly permitted by the virginia nonstock corporation act. 6. If there is a difference of opinion between the board chair, president/ceo and a director or officer as to whether the facts of a given circumstance constitute a potential conflict of interest within the meaning of this policy statement, the matter shall be submitted to the executive committee of the board of directors, who shall make a final determination whether a potential conflict of interest situation exists or not. 7. Annually the president/ceo and board chair shall send to all members of the board of directors and to all officers of argentum a copy of this policy and a conflict of interest disclosure statement to be completed and returned. 8. The president/ceo and board chair of argentum, or his or her designee, shall review each completed disclosure statement; shall make such further investigation of possible conflicts of interest as he or she may deem appropriate; and shall determine whether the information presented on the disclosure statement constitutes a conflict of interest. The president/ceo or board chair, or his or her designee shall then make an appropriate report to the board of directors concerning such review and investigation. 9. Any party who has filed a disclosure statement and who disagrees with the determination of the president/ceo and board chair, or his or her designee, that the matters contained therein do constitute a conflict of interest, and who desires further review of the matter may request that the matter be submitted by the board chair to the executive committee for further review and final determination. The board chair shall submit the matter to the executive co”

“The board of directors adopts an annual program plan and budget each year, which includes measurable goals for the president/ceo. At year end, the executive committee meets to review the attained goals and determine the president/ceo's compensation. Along with the year-end review, the committee also does a compensation comparison every few years using such resources as the asae compensation study for other president/ceo's in associations of comparable size and location. No board member receives compensation. The review of president/ceo compensation is completed on an annual basis.”

“Argentum makes its governing documents, conflict of interest policy and financial statements available to the public upon request.”

“On september 10, 2021, argentum entered into an agreement to sell certain assets and the business operations of an annual trade show known as "the senior living executive conference" to an unrelated third party. Argentum recognized a gain on sale for nearly $7,000,000. The sales agreement also included annual earnouts to be recognized for ten years starting in 2022 based on a set percentage of net revenue from the trade show. The annual earnout is conditional as it requires argentum to produce and implement the annual conference program and provide certain marketing responsibilities under a services agreement pursuant to the sales agreement of the trade show. The earnout is to be recognized annually as the performance obligations are satisfied under the services agreement.”

“Consulting fees 1,252,193. Public relations 462,581. Payroll fee 9,961. Hr fees 4,500.”

“The process has not changed from the prior year.”