La Posada at Park Centre Inc.

“The 990 return is prepared by an outside accounting firm and reviewed in detail by the organization's cfo. In addition, drafts are emailed to the board of directors and senior management and their replies are requested. If timing allows, the return is discussed at the board meeting.”

“A conflict of interest compliance report is completed annually by the officers and trustees. The policy addresses contracts, transactions, and financial interests between the organization and its board and officers. If it is determined that there is a conflict, the trustee absents themselves from the decision-making process. There is a compliance committee chaired by the president/ceo, that meets quarterly to review compliance issues including conflicts of interest and issues minutes. There is also a compliance telephone hot line, which allows for anonymity, that is checked at least weekly for calls. During each annual performance review, a code of conduct and compliance guideline form is discussed, reviewed and signed by each employee.”

“Executive compensation is evaluated annually. The posada life board of trustees periodically engages an outside compensation consultant, but more often uses data collected from industry surveys on ceo pay, benefits and average annual increases others are providing. When available, the board has annually utilized the industry cemo market data. We engaged a larson allen consultant several years back who provided advice on setting the compensation levels of other executives as a percentage of the ceo. This is the responsibility of the ceo; however, the board is periodically advised of the rates of others. The ceo utilizes market data provided by the national association leadingage survey as well as any other surveys being done by groups of ccrcs on their own.”

“The organization's articles of incorporation, by-laws, and conflict of interest policy are made available to the public upon request. The current financial statements and conflict of interest policy are available in the organization's library.”

“Effective december 27, 2013, the organization's skilled nursing license was transitioned to an assisted living license under the laws of the state of arizona. The organization converted the skilled nursing unit into 'high needs' assisted living. The transition was overnight and all patients remained in their beds in the building. Skilled nursing 58 bed capacity became 39 suites of assisted living.”

“Change in split interest agreements -218,358. Change in interest rate swap 241,176. Prior period book adjustment - adoption of asu 2012-01 -15,745,076.”