Bay Village Endowment Fund

“Board members are notified that a draft form 990 is available for their review and offered paper or pdf copies upon request. Questions and comments are invited in advance of filing the return.”

“Bay village endowment fund adopted the conflict of interest, whistleblower, and written document retention policies of bay village of sarasota, inc. With whom they share the same board members.the organization regularly and consistently monitors and enforces compliance with these policies through the oversight of the board members.”

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

“The board of trustees of the endowment fund shall consist of two or more members of the board of directors of bay village of sarasota, inc. (bvi"). The board of directors of bvi selects the members of the board of trustees annually.”

“Changes in value of bequests receivables = $1313”

“The corporation, a not-for-profit organization meeting the requirements of sections 501(c)(3) and 509(a)(2) of the internal revenue code of 1986, as amended. In order to accomplish the foregoing purpose, the endowment fund distributes at least 85% of its net income to the corporation to assist in the operation and maintenance of the corporation's continuing care retirement community, and to assist needy residents of such retirement community in times of financial difficulty. This fund was started in 1980 to address bay village's commitment to the lifecare concept. Today, the endowment fund is made available to those residents, who, through no fault of their own, have financial problems prohibiting them from meeting their contractual obligations as specified in the lifecare residence agreement.”