Tacoma Lutheran Home & Retirement Community

“The executive committee of the board of governors consists of the officers of the board. It has general management over the facilities, subject to the instructions of the board, and has the power to transact all regular business between regular board meetings subject to any limitations placed on it by the board.”

“The bylaws were amended in april 2023 to make futura age, a washington nonprofit corporation, the sole member of eliseo and to grant futura age the following powers: 1. Approval of the nomination, election and removal of governors; 2. Approval of the annual capital and operating budgets; 3. Selection, employment and termination of the ceo; 4. Approval of any sale, lease , exchange or other disposition of all or substantially all of eliseo's assets outside the normal course of business, or any acquisition of eliseo, or merger or consolidation; 5. Approval of any amendment or modification to the articles of incorporation or bylaws; 6. Approval of any proposd voluntary dissolution, liquidation or winding-up; 7. Approval of the declaration by eliseo of any event or bankruptcy, insolvency or other application for judicial relief from creditors; 8. Approval of any action that may jeopardize eliseo's tax-exempt status; and 9. Approval of the creation of and organizating documents (and amendments thereto) for any subsidiary or affiliated entity, joint venture, affiliation or similar arrangement. The lutheran congregations in pierce county that were previously identified as members are now identified as delegates. The delegates no longer have the power to elect governors, but otherwise retain the powers that they previously held as members.”

“The sole member of the organization is futura age.”

“Futura age, the sole member, has the right to approve of the nomination, election and removal of eliseo's governors.”

“As the sole member, futura age has the right to: 1. Approve the nomination, election and removal of governors; 2. Approve the annual capital and operating budgets; 3. Select, employ and terminate the ceo; 4. Approve any sale, lease , exchange or other disposition of all or substantially all of eliseo's assets outside the normal course of business, or any acquisition of eliseo, or merger or consolidation; 5. Approve any amendment or modification to the articles of incorporation or bylaws; 6. Approve any proposd voluntary dissolution, liquidation or winding-up; 7. Approve the declaration by eliseo of any event or bankruptcy, insolvency or other application for judicial relief from creditors; 8. Approve any action that may jeopardize eliseo's tax-exempt status; and 9. Approve the creation of and organizating documents (and amendments thereto) for any subsidiary or affiliated entity, joint venture, affiliation or similar arrangement. The delegates, consisting of lutheran congregations located in pierce county and other congregations that are invited by the board and elected to become delegates, have the authority to: 1. Approve or disapprove of any amendments to the articles of incorporation or bylaws; and 2. Approve or disapprove of any resolution to dissolve eliseo.”

“Prior to filing, the form 990 was reviewed by the cfo and distributed to all board members. After filing, the form 990 is being reviewed by the board of governors' finance committee, then reviewed and approved by the board of governors.”

“The organization requires members of the board of governors and executive officers to annually disclose any interests that could give rise to conflicts. Other than annually when they sign the conflict of interest disclosure, board members are expected to disclose any potential conflicts when issues arise and excuse themselves from discussions and voting on those issues.”

“Compensation for the ceo and top management officials is determined based on annual salary surveys. The board reviews and approves the ceo's compensation. The ceo reviews and approves the other executives' compensation. The process was last completed in 2023.”

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

“Other services: program service expenses 4,408,464. Management and general expenses 399,449. Fundraising expenses 0. Total expenses 4,807,913.”

“Change in value of annuities -669.”

“The authority and process for selecting the financial statement auditor and for overseeing the financial statement audit did not change during the year.”