Ihm Senior Living Community Inc

“The sole-member has a finance committee, strategic planning committee, and a nominating committee.”

“Ihm slc has a management agreement with trinity health senior communities.”

“The organization updated its articles of incorporation and bylaws during the tax year. The significant changes to these documents included the change of the sole member of the organization to saint therese communities.”

“The sole-member of the corporation is saint therese communities.”

“The nominating committee need not contain directors of the sole-member.”

“The board of directors of the sole-member's sole-member, saint therese, has reserved to itself the authority, with respect to the corporation, to approve the incurrence of any indebtedness for money borrowed, to approve any inter-corporate transfers of funds or assets, to approve any sale of assets, merger, consolidation or other significant affiliation agreement, and to approve any amendment to the articles of incorporation of the corporation or any amendments to the bylaws of the corporation.”

“The organization provides a copy of the 990 to the board for review before it is filed.”

“Saint therese communities requires a disclosure form to be completed by the board members and board members are requested to sign a conflict-of-interest policy on an annual basis which are then reviewed as a means of identifying possible conflicts. Employees: new employees are trained on conflict of interest and corporate compliance at new hire orientation and then yearly through relias. Employees are trained that if they see a concern, they are to report it to their manager, corporate compliance officer and/or through the corporate compliance hotline. If saint therese is notified of a concern, it is promptly investigated, and the saint therese communities board of directors are notified of the concern.”

“The process of determining the compensation of the president & ceo, cfo and other key employees includes review and approval by a compensation committee of the board of directors, with the help of an independent compensation consultant and salary surveys. This process was last completed in 2023.”

“The organization makes it financial statements available upon request.”

“Ihm slc expanded its assisted living services from 28 memory care apartments to 58 apartments for traditional and memory care assisted living.”

“Other professional fees: program service expenses 3,232,921. Management and general expenses 275,829. Fundraising expenses 0. Total expenses 3,508,750.”

“Net assets closure due to acquisition -293,879.”