Lake Chelan Senior Housing Inc

“A copy of the form 990 is presented to the board of directors prior to the submission of the form.”

“Procedures: 1) duty to disclose: in connection with any acutal or possible conflict of interest an interested person must disclose the existence of the financal interest and be given the opportunity to disclose all material facts to the directors and members of committees with governing board delegated powers consdering the proposed transaction or arrangement. 2) determining whether a conflict of interest exists: after disclosure of the financial interest and all material facts and any discussion with the interested person, he/she shall leave the governing board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. 3) procedures for addressing the conflict of interest: an interested person may make a presentation at the governing board or committee meeting, but after the presentation he/she shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. The chairperson of the governing board or committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence the governing board or committee shall determine whether the organization can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflictof interest. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the governing board or committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the organization's best interest, for its own benefit, and whether it's fair and reasonable. In conformity with the above determination it shall make its decision as to whether to enter into the transaction or arrangement. To ensure the organization operates in a manner consistent with charitable purposes and does not engage in activities that could jeopardize its tax-exempt status, periodic reviews should be conducted. The periodic reviews shall, at a minimum, include the following subjects a. Whether compensation arrangements and benefits are reasonable, based on competent survey information and the result of arms length bargaining b. Whether partnerships, joint ventures, and arrangements with management organizations conform to the organization's written policies, are properly recorded, reflect reasonable investment or payments for goods and services, further charitable purposes and do not result in inurement, impermissible private benefit or in excess benefit transaction. Each director, principal officer and member of a committee with governing board delegated powers shall annually sign a statement which affirms such person has received a copy of the conflicts of interest policy, has read and understands the policy, has agreed to comply with the policy, and understands the organization is charitable and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes.”

“The board of directors performs an annual performance review of the organization's ceo which includes compensation review. The organization uses the hospital and healthcare compensation services assisted living salary and benefits reports for salary comparability data. The board reviews and approves the ceo salary. Decisions are made by those without conflict and the decisions are documented.”

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