Oak Center Towers

“Compensation of all employees of oak center towers is paid by its ultimate owner, front porch communities and services. W2s/w3s are issued by front porch communities and services. Senior management employees listed in part vii are employees of front porch communities and services, a related organization. They are paid and issued w-2s by front porch communities and services. The salaries reported on part vii of the 990 and schedule j are in part supported through management fees remitted to caring housing ministries. Front porch communities and services in establishing the compensation of the ceo and other top management officials, utilizes compensation studies and an independent compensation consultant. Final compensation amounts of the ceo and cfo are approved by the executive committee of the board and have been completed during the year. In establishing the compensation of other officers and key employees, front porch communities and services utilizes, compensation studies, and an independent compensation consultant. Compensation philosophy is approved by the executive committee of the board and final compensation amounts are approved by the ceo.”

“The Executive Committee shall consist of three to six Directors, and shall include the Chairperson, the chair of each Committee, and the immediate past Chairperson. Executive Committee shall have all of the authority of the Board of Directors to take all action deemed to be necessary and appropriate by such Committee between regular or special meetings of the Board of Directors. Additional duties and authority include consideration of possible conflicts of interest, recommendation to the full board regarding the hiring, employment, and termination of the CEO, and to consider and act on all matters pertaining to the evaluation and compensation of the CEO.”

“Caring housing ministries is the agent for the management of the project.”

“Caring housing ministries, a california nonprofit public benefit corporation, is the sole member of oak center towers.”

“Caring housing ministries has the right to vote with respect to electing and removing the directors of the oak center towers (oct) board. The directors shall at all times consist of those persons who are serving as members of the board of directors of caring housing ministries”

“Caring housing ministries shall have voting rights with respect to (i) the election and removal of directors, (ii) the dissolution, liquidation, merger or sale of the substantial assets of the corporation, (iii) adopting, amending or repealing the articles of incorporation of the corporation or bylaws, and (iv) such other matters as may be provided in the bylaws or the nonprofit corporation law of california.”

“The cfo and management personnel review the 990 information return before filing with the internal revenue service.”

“Officers and board members are asked on an annual basis if there are any activities and/or affiliations that would pose a conflict with their ability to serve on the board or items that they will need to recuse themselves from voting.”

“Governing documents, policies, and financial statements are available upon request at the administrative office.”