Hollenbeck Palms

“The governing body has delegated to the audit committee, consisting of michael davis and edward garlock, the authority to oversee the financial and disclosure process, monitor accounting policies, and the hiring and performance of the external auditors.”

“The governing body has delegated to the audit committee the authority to review the form 990. A complete copy of the form 990 was provided to all members of the audit committee for review prior to filing with the internal revenue service.”

“The organization maintains a conflict of interests policy for board members, officers, and employees. In connection with any actual or potential conflict of interests, an interested person must disclose the existence and nature of any outside interest, outside activity, and financial interest to the board of directors, or the board committee delegated the authority to receive such disclosures. Monitoring is done regularly by the officers to identify potential conflicts of interest as issues arise. In connection with any actual or possible conflicts of interest, any interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the trustees. After disclosure and discussion, the trustees will determine if a conflict of interest exists, and if so, determine the proper course of action.”

“Board of trustees determines compensation for all officers and key employees, based on comparable salaries in the local area. The process described here was last completed in 2024.”

“Documents are available to the public upon request.”

“Professional and contract services: program service expenses 1,726,078. Management and general expenses 354,547. Fundraising expenses 695. Total expenses 2,081,320. Other contractor fees for service : program service expenses 796,257. Management and general expenses 486,373. Fundraising expenses 136. Total expenses 1,282,766. Program activities contractor : program service expenses 84,660. Management and general expenses 0. Fundraising expenses 0. Total expenses 84,660. Repairs and maintenance contractor: program service expenses 43,333. Management and general expenses 909. Fundraising expenses 33. Total expenses 44,275.”

“Change in pension liability 652,823.”

“The organization did not change its oversight process or selection process during the year.”