Oak Center Towers

“Episcopal senior communities is the agent for the management of the project.”

“Jtm communities, a california nonprofit public benefit corporation (the "member") shall be the sole member of the corporation.”

“The function of the member shall be to elect the board of directors of the corporation and to perform other duties as set forth in the bylaws.”

“The member shall have the right to vote on the following matters: (1) election of directors: (2) amendment or restatement of the articles of incorporation or these bylaws; (3) merger, consolidation, reorganization or dissolution of the corporation; and (4) disposition of all or substantially all assets of the corporation. In addition to the rights described in these bylaws, the member of this corporation shall have any other rights afforded voting members under the california nonprofit public benefit corporation law.”

“Oak center towers shares board members with all other related lytton entities. Decisions are shared and require majority vote across all board members.”

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

“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.”

“The 6 senior management employees listed in part vii are employees of episcopal senior communities (esc), a related organization. They are paid and issued w-2s by esc. Esc uses an independent consultant who analyzes and reports on reasonability of compensation every two years. The consultant is independent of management and reports directly to the chair of the board. The consultant reviews and. Provides a report on any issues with the compensation the ceo and/or the cfo receive including any issues around excess compensation. Additionally, all key executives compensation are reviewed by the consultant. This review includes total cash compensation and benefits including retirement plans. Every year, the vice president of human resource reviews the compensation for all management against market analysis guidelines and recommends changes. This review also includes a test of benefits against similar companies.”

“Policies and statements are available upon request.”

“Other fees: program service expenses 4,757. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,757.”

“Adjustment to audited financial statements -14. K-1 income 49.”

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