Oak Center Towers

“Lgsc is the agent for the management of the project.”

“Lytton garden senior communities, a california nonprofit public benefit corporation is the sole member of oak center towers.”

“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 (oct) bylaws may only be amended upon (a) the approval of a super majority of the oct board and (b) the approval of lytton gardens senior communities, as oct's sole corporate member.”

“The cfo, management personnel, board of directors, and finance committee 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.”

“Compensation of all employees of Oak center towers (OCT) is paid by its parent corporation, Lytton Gardens Senior Communities (LGSC), and then allocated to OCT and various other related organizations based on where work is performed. W2s/W3s are issued by LGSC. THE 9 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 7,383. Management and general expenses 0. Fundraising expenses 0. Total expenses 7,383.”