Holladay Park Plaza Inc.

“The board of directors has an executive committee that consists of the officers of the board and such others as the board may delegate. The executive committee considers matters relating to admissions and occupancy, all questions referred to it by the board of directors, and has the power to act in the place and stead of the board of directors on matters of business requiring immediate action between the regular meetings of the board of directors. It makes recommendations to the board for filling director and officer vacancies and is responsible for long range planning. The executive committee reports its actions to the board at the next regular meeting.”

“Holladay park plaza delegates management duties to pacific retirement services, inc.”

“The organization's bylaws were amended in january 2020 to make the following changes: (a) update the member's powers; (b) change the minimum number of board members to 3 and remove the maximum number of board members; and (c) update the responsibilities of the board's officers.”

“The organization has one member, pacific retirement services, inc.”

“Pacific retirement services, inc. Has the authority to elect the organization's directors, which are nominated by the board.”

“The following actions are reserved to pacific retirement services, inc., the sole member: (a) amend, restate or repeal the bylaws, or adopt new bylaws; (b) coordinate the activities of the organization, and engage in the overall planning, policy development, budgeting, and resource allocation for the organization; (c) appoint outside auditors for the organization; (d) elect or appoint the organization's directors, including the resident director and the prs representative director, and fill vacancies caused by the death, removal or resignation of a director; and (e) remove any of the organization's directors or officers. The prior approval of the member is required before the board of directors may (a) approve any merger or consolidation of the organization with another entity, or any partial or total liquidation of the organization's assets; (b) incur any debt, or enter into any contract, not contemplated by the annual budget if the dollar amount exceeds the sum of $100,000; (c) make any gift or gratuitous transfer in excess of $15,000 in any calendar year; (d) create a taxable or tax-exempt subsidiary or affiliated organization; (e) acquire a controlling interest in another entity; or (f) approve any amendment, repeal, or restate of the organization's articles of incorporation, or adopt any new articles of incorporation.”

“The form 990 was reviewed by the director of finance, cfo and the board of directors.”

“The conflict of interest policy and questionnaire are sent to all board members and key employees annually. There are two policies related to conflicts of interest: 1) board of directors; 2)key employees, which identify the purpose, definitions, and procedures. If a conflict is self-identified by a board member or key employee in the questionnaire and/or meeting, procedures are followed and documented according to the policy.”

“A compensation committee of the prs board exists to determine compensation for the executive director of each community. This committee is comprised of the officers of the prs board of directors. The committee has a charter that outlines its duties and responsibilities. It also has agenda elements that describe the activities that the committee undertakes during the year. The vp of human resources provided salary studies from the following resources to the committee relative to executive director compensation: salary.com, payscale.com, 990 review (like size organizations), cemo (chief executive officers of multi-facility organizations) salary study results, and industry state association salary study results based on geographical location. The recommendation for base compensation and bonus are provided by the executive director's direct supervisor (coo or vp of operations).”

“All requests go through corporate counsel.”

“Note that susan platte is a leased employee of pacific retirement services, inc. And performs services on behalf of holladay park plaza pursuant to a management services agreement between holladay park plaza and pacific retirement services, inc. Under the management services agreement, her compensation is reimbursed by holladay park plaza. Compensation has been reported in form 990, part vii, section a in order to highlight amounts paid by holladay park plaza, notwithstanding that she is a leased employee of pacific retirement services, inc.”

“Change in value of interest rate swap agreement -1,348. Change in beneficial interest in net assets of foundation -35,759.”