Inverness Village an Oklahoma Not-For- Profit

“Asbury communities, inc. Provided specific business and operational services pursuant to a management service agreement dated january 1, 2018”

“Inverness village has one member, asbury communities, inc.”

“Asbury communities, inc. Is the sole member of inverness village and elects the governing body”

“Only certain decisions of the governing body are subject to asbury communities inc.'s approval. These decisions include 1) management services relationships and contracts, 2) any organizational change in general, including mergers, sales, leases, etc. Of substantially all of the assets and the creation of new entities, 3) amendments to mission or vision statements, 4) amendments to the articles of incorporation or bylaws.”

“The members of the board of directors review the form 990 prior to filing and the board chair signs the return.”

“The asbury communities conflict of interest policy was approved by the board of directors. The compliance officer is responsible for the policy and oversees the implementation of the process. All the entities within the asbury communities system are subject to the policy. Annually, the compliance officer conducts a comprehensive conflict disclosure process covering all members of the governing boards, system wide committees, and individuals in management positions. Each person completes a conflict of interest disclosure form and is advised of their fiduciary obligations. The compliance officer, who had a direct reporting line to the chair of the audit and compliance committee and reports quarterly to the audit and compliance committee, analyzes all disclosure forms for potential conflicts, and prepares a report for the audit and compliance committee. When an actual or potential conflict of interest arises involving a board or committee member, the audit and compliance committee is informed and will follow specific protocol outlined in the conflict of interest policies and procedures.”

“On an annual basis, the compensation and benefits committee relies on staff feedback and the data and recommendations provided by an external compensation consultant to ascertain the reasonableness of compensation and benefits of all of the direct reports of the ceo and other potentially disqualified persons. In addition, the compensation and benefits committee reviews the organization's progress towards key performance indicators selected for incentivizing performance of disqualified persons through a performance based compensation program. Quarterly, the compensation committee reviews the minutes of the management-lead to see updates to the overall benefits and compensation plan for the organization as well as progress on the organization's employer of choice strategic goals. Also on an annual basis, the compensation and benefits committee specifically reviews the compensation and benefits of the ceo using the data gathered by the compensation consultant at the direction of the committee and provides input to the full board of directors in order to support their decision making process regarding the ceo's compensation. The compensation and benefits committee charter, the executive compensation philosophy, and the executive incentive plan were reviewed most recently in 2018.”

“The conflict of interest policy is available upon request. The governing documents are available in the resident libraries. The audited financial statements are available for public viewing on our website.”

“Contract labor: program service expenses 0. Management and general expenses 110,311. Fundraising expenses 0. Total expenses 110,311.”

“Gain on retirement of debt 74,825,740.”