Channing House

“The audit committee reviews a draft of irs form 990 on behalf of the board of trustees prior to filing with the irs. The draft as reviewed by the audit committee is made available to all members of the board of trustees. Process includes recording who conducted the review, when it was conducted and the extent (detail or summary) the form was reviewed.”

“Annually, policy is reviewed with board members and key staff members.”

“Compensation goes through an annual review by the personnel committee. The personnel committee is responsible for the performance appraisal of the executive director. The performance appraisal is on an annual basis. The committee in its evaluation may solicit input from other trustees, residents and staff of channing house. The salary and benefits of the executive director are also reviewed on an annual basis. The personnel committee submits any recommended changes to the executive director's salary/benefits to the board of trustees for approval. Such recommendation will be submitted for review and approval to the board at the regularly scheduled meeting prior to the executive director's hire date anniversary. Any action taken by the board on personnel committee recommendations will be recorded in the board minutes. Compensation adjustments for the executive director will be established in conjunction with a review of compensation studies available from both nationwide and statewide sources, as well as other sources as available (such as from a consultant). The executive director is responsible for annual evaluations and implementing any salary adjustments for other key management staff. These evaluations must be done in conjunction with the hire date anniversaries for the following: administrator, director of finance, and facilities director. Compensation adjustments for key management staff will be based on budgeted amounts available, as well as statewide compensation studies.”

“Audited financial statements are posted in the resident library; attached to new resident contracts; and available on request from the business office. All board minutes and changes to bylaws are posted in the channing house resident library. Copies of meeting minutes are available for a prior three year period. Conflict of interest policy is available on request from the business office.”

“Food services: program service expenses 2,521,347. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,521,347. Medical services: program service expenses 112,088. Management and general expenses 1,179. Fundraising expenses 0. Total expenses 113,267. Administration services: program service expenses 2,700. Management and general expenses 102,557. Fundraising expenses 0. Total expenses 105,257. Housekeeping services: program service expenses 30,942. Management and general expenses 0. Fundraising expenses 0. Total expenses 30,942.”

“Change in value of charitable gift annuities -1,970. Change in minimum pension liability 51,064.”

“Audit committee and oversight: there have been no changes to this process from the prior year.”