Abramson Senior Care Foundation

“The sole member of the organization is the madlyn and leonard abramson center for jewish life (ein: 23-2083077), a pennsylvania nonprofit corporation.”

“The sole member is entitled to one vote. The member shall exercise its voting and other rights as a member through its board of trustees or by a representative authorized by its board of trustees to act on behalf of the member.”

“The approval of the member shall be required for any of the following actions by the corporation: (a) any merger, consolidation, dissolution, or liquidation of the corporation; (b) any amendments to the articles of incorporation or bylaws; (c) the sale, pledge, lease (but only a lease from the corporation of substantially all of the corporation's real property), or other transfer of the assets of the corporation other than transactions occurring in the ordinary course of business; (d) any changes in the scope of the corporation's mission or activities; (e) the issuance or assumption of any indebtedness by the corporation; and (f) the execution of any contract providing for the management of the corporation.”

“The form 990 is reviewed by the cfo and is then disseminated to all trustees and officers for review prior to filing with the irs.”

“The organization requires its board members, officers, and key employees to annually review the conflict of interest policy and report any conflicts. The organization's conflict of interest policy and procedures are as follows: the purpose of the conflicts of interest policy is to protect the corporation's interest when it is contemplating entering into a contract, transaction, or other arrangement that might benefit the private interest of a trustee, officer, member of a committee with board-delegated powers, or key employee of the corporation (each a "covered person"). This policy is intended to supplement the requirements of the act with respect to conflicts of interest. This policy shall apply to all contracts, transactions, or other arrangements between the corporation and (a) a covered person, (b) a family member of a covered person, or (c) businesses or other entities in which a covered person or his or her family members own financial or beneficial interests. Each covered person shall execute and deliver to the chair an annual statement disclosing the facts relating to any actual or potential conflict of interest. The chair shall report the results of the annual disclosure statements to the board at its annual meeting. In addition, if any covered person has a direct or indirect interest in any proposed contract, transaction, or other arrangement involving the corporation, the covered person must disclose the interest to the board or committee authorizing the contract, transaction, or other arrangement, and the board or committee shall determine whether the interest constitutes a conflict of interest prior to taking any action. An interest subject to disclosure under this policy shall be liberally construed. For example, an interest includes, without limitation, (a) direct or indirect compensation, (b) gifts or favors that are substantial in nature, (c) an ownership or investment interest in any business or entity with which the corporation has a contract, transaction, or other arrangement, and (d) a potential ownership or investment interest in, or compensation arrangement with, any entity or individual with which the corporation is negotiating a contract, transaction, or other arrangement, in each case that involves a covered person, a family member of a covered person, or businesses or other entities in which a covered person or his or her family members own financial or beneficial interests. A covered person who has a conflict of interest may answer questions of the board or committee considering the contract, transaction, or other arrangement that involves the conflict. However, after answering questions, the covered person shall leave the meeting during the discussion of the merits of the matter and shall not vote on the matter. The covered person shall be counted in determining the presence of a quorum.”

“The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request.”

“Change in value of pledges receivable -123,626.”