South Carolina Baptist Ministries for the Aging Inc.

“There is an Executive Committee of the Board of Trustees composed of at least eight members, including the officers of the corporation and such additional members of the Board as the Board may determine. The committee has all power to act for the full Board of Trustees during the interim periods of the meetings of the Boad of Trustees, and all actions and doings of the committee shall be binding on the full Board of Trustees except it may not act inconsistent with a prior act of the Board of Trustees, remove or appoint the President or any other officer, or take any action which has been reserved for the Board.”

“Form 990 is prepared by an independent CPA Firm and reviewed in detail by the organization's top management. The reviewed 990 is provided to the governing body prior to filing with the IRS.”

“The Board annually signs conflict of interest statements. The Director of Administrative Services reviews the signed statements. If a conflict of interest were to arise, the interested party would abstain from voting on matters related to the noted conflict.”

“Officer compensation is reviewed and approved by the trustees annually. The Board Mission Fulfillment Committee conducted a compensation comparison study for the President/Treasurer. This process, review, and approval was not contemporaneously substantiated.”

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

“The Ministry is an institution of the South Carolina Baptist Convention (Convention), as the Convention elects the Board of Trustees that is responsible for the operation of the Ministry.”

“Dietary contract labor: Program service expenses 921,738. Management and general expenses 0. Fundraising expenses 0. Total expenses 921,738. Physical therapy contract labor: Program service expenses 481,008. Management and general expenses 0. Fundraising expenses 0. Total expenses 481,008. Occupational therapy contract labor: Program service expenses 369,450. Management and general expenses 0. Fundraising expenses 0. Total expenses 369,450. Administrative contract labor: Program service expenses 0. Management and general expenses 146,337. Fundraising expenses 0. Total expenses 146,337. Maintenance contract labor: Program service expenses 119,738. Management and general expenses 0. Fundraising expenses 0. Total expenses 119,738. Speech therapy contract labor: Program service expenses 101,245. Management and general expenses 0. Fundraising expenses 0. Total expenses 101,245. Nursing contract labor: Program service expenses 79,200. Management and general expenses 0. Fundraising expenses 0. Total expenses 79,200. Beauty shop contract labor: Program service expenses 44,597. Management and general expenses 0. Fundraising expenses 0. Total expenses 44,597. Nursing consulting: Program service expenses 20,750. Management and general expenses 0. Fundraising expenses 0. Total expenses 20,750. Social services consulting: Program service expenses 18,495. Management and general expenses 0. Fundraising expenses 0. Total expenses 18,495. Pharmacy consulting: Program service expenses 11,753. Management and general expenses 0. Fundraising expenses 0. Total expenses 11,753. Dietary consulting: Program service expenses 9,570. Management and general expenses 0. Fundraising expenses 0. Total expenses 9,570. Social services contract labor: Program service expenses 6,300. Management and general expenses 0. Fundraising expenses 0. Total expenses 6,300. Housekeeping contract labor: Program service expenses 3,134. Management and general expenses 0. Fundraising expenses 0. Total expenses 3,134. Payroll processing service: Program service expenses 0. Management and general expenses 2,912. Fundraising expenses 0. Total expenses 2,912.”

“Change in value of split-interest agreement -700,409.”

“This process has not changed since the prior year. The South Carolina Baptist Convention assumes responsibility for oversight of the selection of an independent auditor. The organization has a Budget and Finance committee that assumes responsibility for oversight of the audit of its financial statements.”