Acts Retirement Services Inc Grp Exemp

“The executive committee has the authority to transact such business as shall be necessary for the administration and operation of the corporation between board of directors meetings subject to certain limits specified in the bylaws.”

“Effective january 2016, acts mission foundation merged with and into pumh foundation, inc. (with pumh foundation, inc. As the surviving corporation) and pumh foundation, inc. Changed its name to acts legacy foundation, inc. (ein 91-2161987). See schedule n for the distribution of assets upon dissolution.”

“After review by the cfo and ceo, the form 990 is reviewed, before filing, by the board of directors' audit committee, which includes three certified public accountants. The form 990 is then provided to the other members of the governing body before filing.”

“A conflict of interest questionnaire is completed on an annual basis by the organization's officers, directors and trustees. The responses are reviewed by the president & ceo, and chairman of the board of directors to determine if conflicts are present and if so, the extent of the conflict. For conflicts that arise, the officer, director or trustee must recuse themselves from participating in deliberations and decisions that involve the determined conflict.”

“It has been the practice of the management company, acts management services, inc., to engage an independent compensation consultant on an approximately biennial basis for the purpose of reviewing the compensation program for the organization's top management positions, ranging from community managers up to the ceo. The study, the latest version of which was completed in 2016, includes comparison of not-for-profit and for-profit competitors, operating effectiveness, and identification of industry specific trends or practices in compensation or recruitment/employment. Measurement and action are generally focused at levels from the median up to the seventy-fifth percentile as identified in the study. The reports' general findings are reviewed with board officers. Compensation adjustments for the president & ceo are determined by a committee of independent board members appointed by the chairman and are based on the findings of the most recent study and a review of performance compared against objective criteria. This determination is reported to and approved by the board of directors and is documented in writing by the board chair. Similarly, compensation adjustments for the most senior members of management reflect study findings and performance measurement against specified criteria and are determined by the ceo and reviewed with the board chair.”

“The organization's governing documents and conflict of interest policies are filed with numerous regulatory authorities and therefore, are available to the public. In addition, upon receipt of a request and its review, the organization will make available such documents, as deemed appropriate. Audited financial statements are made available to the public. Certain financial statements, such as annual reports and quarterly reports, are posted to the organization's website. Certain other financial statements are also provided upon request.”

“Other compensation includes accruals for a deferred supplemental executive retirement plan for karen i. Christiansen (non-vested), gerald t. Grant (non-vested) and j. Mark vanderbeck (non-vested).”

“Effective january 2016, acts mission foundation merged with and into pumh foundation, inc. (with pumh foundation, inc. As the surviving corporation) and pumh foundation, inc. Changed its name to acts legacy foundation, inc. (ein 91-2161987).”

“Merger of acts mission foundation into acts legacy foundation, inc. -6,418,308. Merger of village nursing care, inc. Into acts signature community services -157,323.”

“The organization's annual financial statements are audited on a consolidated basis and the organization has an audit committee consisting of board members only that exercises responsibility for the oversight of the audit.”