Mary Wade Residence Inc

“Mw healthcare, inc. Is the sole member of mary wade residence, inc. And is exempt under section 501(c)(3) of the internal revenue code.”

“The sole member, mw healthcare, inc. Elects the board of directors for the upcoming year. This is done at the annual meeting of the board of managers of mw healthcare, inc.”

“The sole member, mw healthcare, inc., has the right to vote on all matters upon which members of a connecticut stock corporation are afforded the right to vote.”

“No committees have the authority to act on behalf of the governing body.”

“The form 990 is prepared by an independent accounting firm with information provided by management. A complete copy of form 990 is provided to all board members for review and inquiries prior to filing with the internal revenue service.”

“The organization's parent organization has a corporate compliance officer who sends out conflict of interest statements to all officers, directors and key employees. Any potential conflicts of interest are reviewed by the corporate compliance committee of the board of managers. Certain restrictions are placed on persons with a conflict. They are prohibited from participating in the governing body's discussions and decisions regarding the transactions.”

“Annually, the ceo prepares performance evaluations on senior staff, including a self evaluation. The performance evaluations are based on duties that are stated within the job descriptions, targets that are used in organizational dashboard reports (i.e. Census, payor mix, staff turnover, financial indicators, etc.) and annual goals. The evaluations include current annual salary (including bonuses), salary survey input from the vice president of employee relations and increases compensation based on perfomance and market factors. The ceo meets separately with senior staff members to review their evaluations and compensation package for the coming year. The ceo may utilize several human resource wage and benefit resources to compile a comparative compensation analysis for each position, as listed below: 1.) nursing home salary & benefits report, 2023-2024, published by hospital & healthcare compensation service in cooperation with leading age, published july 2023, effective date of data: march 2023. 2.) continuing care retirement community salary & benefits report, 2023-2024, published by hospital & healthcare compensation service in cooperation with leadingage, published june 2023, effective date of data: march 2023. 3.) assisted living salary & benefits report, 2023-2024, published by hospital & healthcare compensation service in cooperation with leadingage, published january 2024, effective date of data: october 2023. 4.) ct nursing home salary & benefits survey, 2024, published by leading age ct in april 2024, effective date of data: september 2023. The ceo compensation is deliberated by and the resulting decision is documented by the governance committee of the board. Governance committee members are provided comparative executive compensation and benefit information by the vice president of employee relations.”

“At this time, the organization has not had any request to review the governing documents, conflict of interest policy or financial statements. However, this information is available upon request.”