People of Faith Inc

“The organization has an executive committee consisting of the officers of the board of trustees. The executive committee has the power to act on behalf of the board between meetings of the board. The executive committee also annually evaluates the performance of the president & ceo.”

“All management services are provided by aventur, inc.”

“During the year, the organization amended its articles of incorporation and bylaws to reflect significant governance changes. The articles of incorporation were revised to transition from a general membership structure to a single-member structure, designating aventur, inc. As the sole member. The exempt purpose language was updated and clarified to reference the current internal revenue code and to specify the organization's focus. The bylaws were also amended to ensure consistency with the revised articles and align governance with the new structure. Aventur, inc. Was formally established as the sole member with reserved powers, including approval of major actions such as amendments, mergers, asset sales, dissolution, and budgets. Amendments to the bylaws now require a two-thirds vote of the trustees and approval by the member. The bylaws provide for up to 14 trustees, elected by the member, who also determines the number of trustees and fills vacancies. Officer roles were clarified, and the bylaws permit one individual to hold multiple offices, except for the positions of chairman and secretary. The board is required to adopt a conflict of interest policy governing transactions with interested persons. Indemnification provisions were expanded to reference arizona statutes and include detailed procedures and limitations. Finally, the bylaws specify that upon dissolution, assets will be distributed in accordance with irs requirements.”

“Aventur, inc. Is the sole member of the organization.”

“Pursuant to the bylaws, aventur, inc. Has the right to elect the trustees who serve as the organization's governing body. This right is exercised by the board of directors of aventur, inc. Or a designated representative.”

“Aventur, inc., as the sole member, must approve certain major governance decisions of people of faith, inc., including amendments to the articles of incorporation or bylaws, mergers, dissolution, adoption of budgets, and actions outside the ordinary course of operations. These rights are exercised by the board of directors of aventur, inc. Or a designated representative.”

“Prior to filing, the form 990 was reviewed by the cfo and the draft was uploaded to a secure board portal for review by the board of trustees. At the next available board meeting subsequent to filing, the form 990 is presented and discussed.”

“Members of the board annually review and sign the conflict of interest policy. Communication with board members ensures that all conflicts are disclosed. If a conflict exists, a board member discloses such conflict, refrains from voting, doesn't use their personal influence on the matter, and is not counted in determining a quorum for the meeting.”

“The organization engages a third-party compensation consultant with specialized experience and knowledge in the senior living and health care industries to review executive compensation. The consultant utilizes multiple objective data sources, including industry compensation studies and forms 990 from comparable organizations, and prepares a comprehensive compensation report for review by the board of trustees. Ceo, cfo and coo compensation is reviewed annually by the independent compensation consultant and presented to the board of trustees. The board of trustees will approve compensation adjustments for the ceo and the ceo will approve compensation adjustments for the cfo and coo. The review process and supporting documentation are maintained in the organization's records. Compensation for other officers and key employees is reviewed annually by the ceo in collaboration with the compensation consultant and cfo. This review is informed by multiple data sources, including independent compensation studies and market benchmarks, and supporting documentation are maintained in the organization's records. The most recent compensation reviews occurred in 2024.”

“The organization's conflict of interest policy, financial statements and governing documents are made available to the public upon request.”

“Intercompany transfers 922,958. Transfer to aventur -198,826.”

“The process for oversight and selection of an independent accountant has not changed from the prior year.”