Vernon Woods Retirement Community H Csr

“Program service accomplishments vernon woods retirement community, inc. ("vernon woods") was established for the purpose of providing assisted and independent living apartments to senior adults including meals, dietary information and professional evaluations. Vernon woods offers services for both independent and assisted living. Independent living includes offering housing for people who need no assistance with their health or personal needs. Assisted living services are provided by trained staff and address scheduled and unscheduled needs. A total of 127 adults were served during the year, 65 assisted living and 62 independent living.”

“UNRELATED BUSINESS INCOME VERNON WOODS RETIREMENT COMMUNITY, INC. GENERATED NO UNRELATED BUSINESS INCOME ("UBI") FOR THE REPORTING YEAR. AS A RESULT THE FILED 990-T SHOWS NO ACTIVITY. IF SUBSEQUENT REVIEW OF THE BOOKS REVEALS ANY UNREPORTED UBI WE WILL FILE AN AMENDED RETURN FOR THE TAX PERIOD ENDED JUNE 30, 2018. FORM 990, PART IV, LINE 12B AUDITED FINANCIAL STATEMENTS VERNON WOODS RETIREMENT COMMUNITY, INC. is audited on an annual basis by an outside auditing firm, KPMG, and as part of that audit a consolidated financial statement is issued for all of WellStar Health System, Inc. and its CONTROLLED Affiliates. The independent auditors report includes the accounts of Wellstar and its controlled affiliates, WELLSTAR Kennestone Hospital, Inc., WELLSTAR Cobb Hospital, Inc., WELLSTAR Douglas Hospital, Inc., WELLSTAR Paulding Medical Center, Inc., WELLSTAR ATLANTA MEDICAL CENTER, INC., WELLSTAR NORTH FULTON HOSPITAL, INC., WELLSTAR SPALDING REGIONAL HOSPITAL, INC., WELLSTAR SYLVAN GROVE HOSPITAL, INC., WELLSTAR WEST GEORGIA HEALTH SERVICES, INC., WELLSTAR WEST GEORGIA MEDICAL CENTER, INC., Wellstar Foundation, Inc., WELLSTAR WEST GEORGIA FOUNDATION, INC., VERNON WOODS RETIREMENT COMMUNITY, INC., CHS Foundation, Inc., Community Assurance Company, Ltd., various Wellstar owned physician practices, a hospice facility, a nursing facility, home health business, and entities for infusion therapy and durable medical equipment. All significant intercompany accounts and transactions have been eliminated in combination. The Board of Trustees of Wellstar HEALTH SYSTEM, INC. has the authority to approve appointments of the members of the board of trustees of all affiliate corporations. FORM 990, PART VI, SECTION A, LINE 3 DELEGATION OF MANAGEMENT DUTIES VERNON WOODS HAS A MANAGEMENT SERVICES AGREEMENT WITH GRACE MANAGEMENT, INC. WHEREBY ALL MANAGEMENT AND OTHER SERVICES NECESSARY IN THE ORDINARY COURSE OF BUSINESS, INCLUDING ACCOUNTING AND BOOKKEEPING SERVICES ARE PROVIDED. VERNON WOODS PAYS A MONTHLY MANAGEMENT FEE IN THE AMOUNT EQUAL TO 5% OF GROSS REVENUES FROM OPERATIONS AND 1% OF GROSS WAGES PAID TO ON-SITE PERSONNEL. FORM 990, PART VI, SECTION A, LINE 7B POWERS OF THE BOARD As per the Articles of Incorporation, the ULTIMATE sole member of VERNON WOODS RETIREMENT COMMUNITY, INC. is Wellstar Health System, Inc., a GEORGIA nonprofit corporation. As sole member, Wellstar Health System, Inc. holds certain powers of election and approval in connection with the governing body of the organization. These powers are presented in detail in the governing documents which the company makes available to the public upon request. FORM 990, PART VI, SECTION B, LINE 11B BOARD REVIEW OF FORM 990 Internal staff prepareS the organization's Form 990. Before filing the return with the Internal Revenue Service an external accounting firm, PricewaterhouseCoopers LLP, reviews and sign-offs on the completed return of each organization. The current year Form 990 is then reviewed by the Finance Committee along with a question and answer session. A motion is then made by the Finance committee to approve the returns and present to the full board copies of the forms in an electronic (pdf. format) version as well as a hard copy. The organization's CFO or designee subsequently signs the return for either manual or electronic filing by the appropriate due date. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY Our conflict of interest policy requires all covered persons to annually review the policy and then complete, sign and return the Conflicts of Interest Survey and Attestation to the Compliance Office. The Policy requires an on-going disclosure obligation in the event a conflict arises during the year. The following is our process to regularly and consistently monitor and enforce the policy: Compliance identifies all covered persons who must complete the Survey and Attestation. Compliance verifies that the Survey and Attestation is distributed to thes”

“Other changes in net assets for the reporting period vernon woods had a change in net assets of ($999,848) related to transfers to affiliates as part of the allocation of income statement and balance sheet transactions over the year.”