Presbyterian Retirement Communities

“All management functions are provided by employees of transforming age.”

“Transforming age, a washington nonprofit corporation, is the sole member.”

“If not already serving on the board of directors, the chair and the vice-chair of transforming age's board of directors are ex-officio voting members of the board of directors. Transforming age's secretary and treasurer are also the secretary and treasurer, respectively, of this organization. Transforming age has the power to remove and replace any members of the board of directors.”

“Transforming age, as the sole member, has the right to (a) amend the articles of incorporation and bylaws; (b) adopt a plan of merger or consolidation; (c) authorize the sale, lease or exchange of substantially all of the organization's assets if not in the ordinary course of business; (d) authorize the organization's voluntary dissolution or revoke the proceedings thereof; (e) convert the organization into a for-profit corporation; and (f) adopt a plan for the distribution of the organization's assets.”

“The form was reviewed by the controller and the cfo. It was then provided to the board for review before filing.”

“The conflict of interest policy applies to all board members, officers and employees. Annually, a conflict of interest form is distributed to the board of directors and officers. The president & ceo reviews the completed forms and identifies whether any conflicts exist. Any actual or perceived conflict of interest of any governing board member or officer is disclosed to the other board members or highest level of management (president & ceo) and made a matter of record at the soonest possible time. Any governing board member having a possible conflict of interest may not vote or use personal influence on the matter, and is not counted in determining the quorum for the meeting, even where permitted by law. The minutes of the meeting reflect that disclosure was made, the abstention from voting, and the quorum.”

“The board uses an independent compensation consultant and compensation survey to annually determine the ceo's compensation. The ceo is responsible for conducting the review of other officers' compensation. Compensation was last reviewed in 2024.”

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

“The officers that have compensation presented in part vii, section a of the form 990 provide executive management support and overall guidance to transforming age and its related and supported affiliates. As you peruse the pages of our 2024 annual report, you will witness the incredible advancements and contributions of our nearly 3,000 team members who ignite our mission every day and impact nearly 750,000 people annually. Https://transformingage.org/publications/”

“Presbyterian retirement communities northwest is a leading nonprofit organization committed to improving the lives of older adults through community housing and services, technology development, research and advocacy. Founded in 1956, the organization currently operates 54 communities in washington, minnesota, and nebraska. Its affiliated partner, gsi research & consulting, provides market research, consulting, development and management services for other organizations in the industry. Park shore - a type b continuing care retirement community operated as a division of presbyterian retirement communities northwest consisting of 113 residential living apartments, 31 assisted living apartments, and a skilled nursing facility with 28 licensed beds. Most park shore residents occupy their units under long-term entrance-fee based contracts. Park shore was originally constructed in 1963 but has undergone significant updating since then. Skyline - a type a continuing care community consisting of 199 independent living units, 48 assisted living units, 28 memory care units and a skilled nursing facility with 34 licensed beds. Most skyline residents occupy their units under long-term entrance-fee based contracts. Skyline opened in october 2009 and is owned and operated by fh, llc (fh), a washington limited liability company of which presbyterian retirement communities northwest is the sole member. Fh owns and operates skyline, while contracting with presbyterian retirement communities northwest for management services. Minnesota senior living - a continuing care community consisting of 656 independent living units, 289 assisted living units, and 61 memory care units. Presbyterian retirement communities northwest formed msl in september 2016 to acquire, own, and operate eight stand-alone properties located in the cities of apple valley, brooklyn park, burnsville, crystal, and wayzata in the minneapolis - st. Paul metropolitan area, while contracting with presbyterian retirement communities northwest for management services. Minnesota senior living, llc (msl), is a minnesota limited liability company and a wholly owned subsidiary of presbyterian retirement communities northwest.”

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