Alliance Community for Retirement Living Inc

“Acrl entered into an amended purchase and sale agreement in march 2021 to sell the community. In addition, in march 2021, acrl entered into an interim management agreement with an affiliate of the purchaser, and acrl filed an application to transfer the license and control of acrl to the purchaser. The sale transaction closed in june 2021 upon approval of the florida office of insurance regulation.”

“The corporation has only one class of members. The members of the corporation are the members of the board of directors of the christian and missionary alliance, inc.”

“The corporation's board of directors (governing body) is elected by the members of the corporation.”

“Certain decisions of the governing body (the incurrence of debt, for example) are subject to approval by the members of the corporation.”

“The 990 was completed by the director of accounting, a draft was presented to the vp of finance/cfo to be reviewed. The final version was then presented to all the board members before it was filed with the irs.”

“Employees have an obligation to conduct business within guidelines that prohibit actual or potential conflicts of interest. This policy establishes the framework within which the alliance community for retirement living, inc (acrl) operates it business. The purpose of these guidelines is to provide general direction so that employees may seek further clarification on issues related to the subject of acceptable standards of operation. Transactions with outside firms must be conducted within a framework established and controlled by the executive director, the director of operations, the director of healthcare services, the director of marketing and sales and the acrl board of directors. Business dealings with outside firms should not result in unusual gains from those firms. Promotional plans that could be interpreted to involve unusual gain require the executive director's approval. Compliance with this policy and procedure is the responsibility of every acrl employee. Disregarding or failing to comply could lead to disciplinary action, up to and including possible termination of employment.”

“An analysis of compensation for martin schappell, president, and burke rainey, cfo, was conducted and approved by the board of directors in may 2021 by clifton larson allen.”

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

“Other changes in net assets equity transfer from shell point $ 2,373,658 prior period loss on disposal of assets ( 80,233) ----------- total $ 2,293,425”

“The cmaf discontinued the operations of acrl in march 2021 and completed the sale of substantially all its assets in june 2021.”

“The organization will undergo the required single audit for the cares provider relief funds it received prior to and during the fiscal tax year.”