Carolina Meadows Inc.

“Carolina meadows senior communities & services, inc. Is the sole member of carolina meadows, inc.”

“As the sole member, carolina meadows senior communities & services, inc. Elects the governing body of carolina meadows, inc.”

“As sole member, carolina meadows senior communities & services, inc. Must approve all significant decisions of carolina meadows, inc.”

“The 990 is reviewed by management, the carolina meadows, inc. Board finance committee, and the parent board after preparation by independent tax accountant. The review is conducted prior to filing with the irs and involves a thorough examination of the information used as a basis for preparation of the 990 by the independent tax accountant and the draft of the 990. Any changes are recommended to, and reviewed by, the tax accountant.”

“All annual signed coi policy affirmations are reviewed by ceo and the full board. Any disclosed or known conflicts would be resolved by full board. Persons with a conflict must recuse themselves from discussions and meetings until resolution is reached. If not reached, conflict must be terminated or board member or staff member must resign. Coi policy applicable to all board members and senior and executive management. Board members are required to inform of any direct or indirect conflict of interest with regard to any transaction contemplated by the bod including actions regarding transactions with any material financial interest or in which director serves as a director, trustee, officer or partner. A resident member of the board of the foundation may include cm residents who will not be considered to have a financial conflict or interest of purposes of policy solely due to being a resident.”

“In determining the ceo's compensation, salary information is compiled by the executive committee of the parent board of directors which serves as the executive compensation committee. The committee uses a variety of comparability and salary survey data from capital associated industries (cai) including the north carolina annual wage and salary survey, the national executive compensation survey, and guidestar executive compensation data. Assessment forms rating the ceo's performance are also completed by members of all affiliate boards. Using the survey data as benchmarks and the compiled assessment data as an indicator of performance measurement, the executive committee recommends to the full parent board for approval of the total ceo compensation within the board established salary range for the ceo position. Based on salary and total compensation data from capital associated industries, guidestar, the national executive compensation survey, leadingage and other survey data, the ceo sets and approves compensation for the coo and cfo positions within established ranges for the organization based on input and review from the parent board. The salary amounts for the ceo, coo and cfo are further reviewed by the full parent board as a measure of oversight and understanding of total executive compensation for the top executive positions.”

“Minutes of quarterly board meetings including the quarterly financials and annual audited financial statements are placed in the carolina meadows resident's library. Articles of incorporation are available on the secretary of state's website and, along with the board bylaws, are available for review upon request. An annual disclosure statement is available on-line through the nc department of insurance (ncdoi.com), and includes in appendices copies of the doi ccrc license, dhsr nursing facility license, annual audited financial statements, five-year financial projections, ccrc contract and other corporate information. Conflict of interest statements are available for review upon request.”

“Community involvement carolina meadows focuses on community outreach and corporate responsibility as follows: - we support our local community - we invest in the future of aging - we contribute to the economy - we partner on senior initiatives in addition, we are committed to providing services to any resident of carolina meadows who has exhausted their assets through no fault of their own and needs financial assistance subsidies to cover the cost of services. Carolina meadows is actively involved in the community through participation in community outreach, educational, charitable and volunteer programs sponsored on campus or throughout the surrounding community. Carolina meadows has made significant charitable gifts in 2020 to support charities that support older adults in chatham county, including: - a 2016 five-year pledge to the unc medical foundation for the creation of a new hospice home in pittsboro that will serve chatham county residents and beyond. The pledge was for $150,000 over five years; the final $22,500 was contributed in 2020. - carolina meadows made a four-year pledge of $100,000 to support leading age nc. The third donation of $25,000 was provided in 2020. - a $20,000 donation was made to the council on aging to support the implementation of the chatham aging plan which benefits all who live in the county. The plan pivoted this year to provide needed services in new ways allowing seniors to remain safely at home during the pandemic. - a five-year pledge was made in 2016 to the chatham county council on aging to support their frozen meals program. The pledge was for $37,500 over five years. The fifth $7,500 donation was contributed in 2020. This program took on a new importance in 2020 when the number of seniors in their homes without access to healthy food hit a new high. Carolina meadows has committed to continuing support of this important program. - a $5,000 donation was made to the chatham outreach alliance (cora) food pantry to support hunger relief throughout all of chatham county. Food insecurity increased drastically over the pandemic in 2020. - a $5,000 donation was made to rise against hunger to help sustain their hunger relief efforts around the world. Carolina meadows hosted meal packaging events with this organization in the past and looks forward to doing another in 2021. - a $12,000 donation to the chatham county literacy council to support literacy efforts throughout our entire community. These efforts are focused on increased literacy such as ged, english as a second language, computer literacy and more. During the pandemic, the council paused in-person services for online learning and is slowly reopening. - a $4,500 donation to united way of chatham county. An additional $2,500 was contributed beyond our corporate annual donation of $2,000. This went towards a community-wide covid fund to support nonprofits working in chatham county. - a $2,000 donation to pbs north carolina (unc tv) in support of their public programming which reaches all ages across our county and state. - a $1,500 donation to unc partnerships in aging program which promotes dialogue about the personal and societal meaning of having a long life and advance civil engagement as a way to bring about a new kind of aging. Beyond financial support, carolina meadows supports nonprofit organizations through donations of in-kind contributions. Examples include: - donated gallons of hand sanitizer to chatham county's emergency response servcies, the council on aging and local childcare providers - donated refrigerators, industrial lights fixtures and other in-kind appliances to many schools, churches and thrift shops in our local community. Staff generously donate their time/service to community organizations. This year staff participated on planning committees related to pandemic relief efforts including the chatham health alliance, chatham community partners and leading age nc. In addition to our robust corporate community outr”

“Change in fair value interest rate swap -345,719. Change in accounting estimate -8,741,060.”