The Foundation for Health Care Continuums

“A draft of the irs form 990 was provided to all officers and board members for review/approval prior to filing.”

“The organization has adopted a conflict of interest policy that includes a disclosure statement to be answered by directors and officers or any other employee that can influence the actions of the organization. The policy states that the board, officers and management employees have the responsibility of administering the affairs of the organization honestly and prudently, and of exercising their best care, skill, and judgement for the sole benefit of the organization. The policy also provides, by example, certain transactions that may give rise to a conflict. The fact that one of the interests described in the policy exists does not necessarily mean that a conflict exists, or that the conflict, if it exists, is material enough to be of practical importance, or if material, that upon full disclosure of all the relevant facts and circumstances it is necessarily adverse to the interests of the organization. However, it is the policy of the board that the existence of any of the interests described in the policy shall be disclosed before any transaction is consummated. It shall be the continuing responsibility of the board, officers and management employees to scrutinize their transactions and outside business interests and relationships for potential conflicts and to immediately make such disclosures. The board (or a duly constituted committee thereof) shall determine whether a conflict exists and in the case of an existing conflict, whether the contemplated transaction may be authorized as just, fair and reasonable to the organization. The decision of the board (or a duly constituted committee thereof) on these matters will rest in their sole discretion, and their concern must be the welfare of the organization and the advancement of its purpose.”

“The board of directors reviewed the ceo's compensation and followed rebuttable presumption guidelines, which included the use of comparability data and contemporaneous substantiation of changes to the ceo's compensation. The latest review was conducted in 2024. The organization's ceo reviewed the compensation of the other key employees. Long-term care industry compensation information for the state of minnesota was used as comparability data. The employee's compensation was compared to the industry average for positions of similar responsibility to determine reasonableness. The organization retains the comparability data and the documented results of the analysis. The latest review was performed in 2024.”

“The foundation's financial statements are available for public inspection through the office of the minnesota attorney general. The foundation's governing documents are open for public inspection through the office of the minnesota secretary of state. The foundation's conflict of interest policy is not open to the public.”

“The process for selection and oversight of an independent accountant has not changed from the prior year.”