Saint Marys Communities Inc.

“The draft tax return is sent to the board of directors for review. The board reviews the tax return and resolves any questions. The board sends approval to the tax preparer to finalize the return with the internal revenue service.”

“The organization's conflict of interest policy requires each director and/or officer to annually disclose his/her knowledge and understanding of the policy which includes the duty of each officer and/or officer to disclose to the board of directors any actual or potential conflicts of interest. The board of directors (excluding any member which is party to the conflict) is responsible for reviewing the potenital conflict and making the determination if an actual conflict of interest exists. The board of directors will review all the facts and circumstances of the actual or potential conflict to determine if a more advantageous transaction or arrangement is/was reasonably possible and if not, determine that the arrangement is in the best interest of the organization, for its own benefit and is fair and reasonable. Upon knowledge that a conflict was not properly disclosed to the board of directors, appropriate corrective and disciplinary actions shall be taken. Individuals party to any conflict of interest shall be precluded from voting on any matters associated with the arrangement or transaction involving such conflict.”

“Review of industry salary surveys and review of 990s of peer organizations.”

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

“The organization is obligated under the terms of an administrative services agreement with quantum real estate management, llc, an unrelated party. The annual administrative services fee was $4,500 per month in 2024,for an annual total of $54,000.”