Senior Resources of the West

“Lytton gardens senior communities, episcopal senior communities, and the episcopal diocese of california each have the right to appoint one of the board members of jtm communities.”

“Jtm communities does not have committees to act on behalf of the governing body.”

“Cfo and general counsel conducted a complete and thorough review of the form 990. An electronic copy of the form 990 was posted on the organization's internal website for board review and additionally, sent via email directly to each board member for their review and comments prior to filing with the internal revenue service.”

“The organization reviews compliance with the conflict of interest policy on a transaction-by-transaction basis.”

“The audited financial statements are available on the organization's website, jtm-esc.org. The governing/organizing documents and conflict of interest policy are available upon request.”

“Statement of functional expenses: adminstrative overhead are treated as program expense in that the allocated overhead is related to the executive time spent identifying growth opportunities in support of the missions of the supported organizations, performing due diligence on various potential projects, and designing financing schemes to expand or build new affordable housing communities or continuing care retirement communities. Developer fees or other compensation to the parent would be treated as program revenue (as would the expenses be treated as program related) but, as of yet, no projects have been identified or undertaken. Incurred interest is treated as program expense in that the loan from esc to jtm was made to capitalize the parent so that it could provide funding and act as a catalyst for the expansion of mission of esc and other supported organizations. All of the loaned funds are 'provisioned' to foster and faciliate growth and so the interest expense is considered program related as 'expansion' can't happen absent the loan.”

“Cumulative effect of change in acctg principle -193,817.”

“Audit committee and oversight for the consolidated financial statements - there have been no changes to this process from prior year.”

“Audited financial statements: the organization's audited financial statements are prepared on a consolidated basis; however, the organization has separate financial information reported in the supplemental schedules to the consolidated audited financial statements. This separate financial information is the basis for the reconciliation at schedule d, parts xi, xii, & xiii.”