Whitemarsh Continuing Care Retirement Community

“An executive committee and/or any other standing or temporary committee, consisting of two (2) or more directors, may be appointed by the board of directors from time to time. Each such committee shall have and exercise such authority of the board of directors on behalf of the corporation in the management of the business and affairs of the corporation as the board may specify in the resolution establishing such committee or as the board by resolution may subsequently determine, which may include any action which the pennsylvania nonprofit corporation law of 1988 provides shall or may be taken by the board of directors.”

“The form 990 is prepared by an independent accounting firm, then reviewed by the board audit committee, and then distributed to the whole board for their review prior to filing with the internal revenue service.”

“Conflict of interest statements are completed annually by each board member and submitted to the governance committee of the board for their review. Based on their review, the governance committee determines whether a potential or actual conflict of interest exists and submits the matter to the full board for their consideration. The full board then decides what action should be taken in response to the conflict which may include the resignation from the board of the member with a conflict.”

“The compensation of the ceo is determined by the executive committee of the board based on a review of the ceo's performance relative to the organization's goals, a review of the compensation of ceo's from comparable nonprofit organizations from their form 990 and a review of relevant compensation survey information provided by an outside independent compensation consultant to the executive committee and with the advice of counsel, as needed. The compensation of other officers and key employees is determined by the ceo based on a review of the employee's performance relative to the organization's goals, a review of compensation at comparable nonprofit organizations from their form 990, a review of relevant salary surveys, with the advice of the executive committee and an outside independent compensation consultant. The deliberation and final decisions are timely documented as part of the committee records and employee file. The compensation of other officers and key employees is determined by the ceo based on a review of the key employees performance relative to the organization's goals, a review of compensation at comparable nonprofit organizations from their form 990, a review of relevant salary surveys, with the advice of the executive committee and an outside independent consultant. The process described here was last completed in 2022”

“The organization's financial statements are posted to a financial disclosure web site, included with the publicly available disclosure statement of the community and distributed upon request to all residents of the community. The conflict of interest policy and governing documents are not made available to the general public upon request.”