Unknown Organization

“The Executive Committee often makes decisions for the Board; however, the Board is always notified of any action the Executive Committee takes. The Executive Committee is composed of the Chairman, Vice Chairman, Secretary, Treasurer, and President. The President is a non-voting member with voice. With regard to scope, the Executive Committee "shall possess and may exercise all the powers of the Board of Trustees except as subject to the provisions of Article 7.07. The Executive Committee shall exercise these powers only when it is impractical to convene a called meeting of the Board of Trustees. The Board of Trustees may delegate specific authority or responsibility to the Executive Committee." The Executive Committee may not: Amend the Articles of Incorporation; Adopt a plan of merger or a plan of consolidation with another corporation; Authorize the sale, lease, exchange, or mortgage of all or substantially all of the property and assets of the Corporation; Authorize the voluntary dissolution of the Corporation; Revoke proceedings for the voluntary dissolution of the Corporation; Adopt a plan for the distribution of the assets of the Corporation; Amend, alter or repeal the bylaws; Elect, appoint, or remove a member of a committee or a Trustee or officer of the Corporation; Approve any transaction to which the Corporation is a party and that involves a potential conflict of interest as defined in paragraph 10.05, below; Take any action outside the scope of authority delegated to it by the Board of Trustees; Take final action on a matter that requires the approval of the Board of Trustees.”

“The Organization delegates management duties including supervising personnel, operations, and budgeting to Sears Methodist Retirement System, Inc., the parent company, who in turn has a management contract with Life Care Services.”

“A copy of the form 990 was made available to all board members for review and approval before filing the return.”

“Conflict of interest statements are completed annually by Sears Methodist Retirement System Board of Trustees, Sears Plains Retirement Corporation Board of Directors and all senior staff. Any new Board Members or senior staff are required to complete the statement upon hire.”

“The compensation for the CEO is determined by the performance/compensation committee and is approved by the board in an annual review. Any raise or bonus is discussed and voted on by the board. Every few years an outside compensation specialist is hired to help determine compensation for the CEO. Each senior VP or executive VP review or salary increase is determined by the CEO in an annual review process. Each senior VP has key officers under them that are reviewed in the same manner. 2013 was most recent year of review by independent persons.”

“Although not required, the organization will provide photocopies of its governing documents, conflict of interest policy, and financial statements to those who request one or more of these items.”

“Other Services: Program service expenses 943,362. Management and general expenses 61,672. Fundraising expenses 0. Total expenses 1,005,034.”

“Change in SMF Investment -18,375.”

“The Organization has a committee which assumes responsibility for choosing the independent auditor and oversight of the independent audit. This process is consistent with prior years.”

“Contracted Nursing - 70,983 Contract Labor - 11,740 Purchased Services - 922,311”