Tacoma Lutheran Retirement Community

“The executive committee of the board of trustees consists of the officers of the board. It has general management over the facilities, subject to the instructions of the board, and has the power to transact all regular business between regular board meetings subject to any limitations placed on it by the board.”

“All management responsibilities are provided by tacoma lutheran retirement community.”

“The organization's bylaws were amended in february 2018. The following significant changes were made: 1. Update the organization's mission statement, although they aren't substantively changed; 2. Decrease the maximum number of board members from 24 to 15; 3. Prohibit a single board member from serving as chair, vice chair, and/or secretary simultaneously; 4. Decrease the terms of the board's secretary and treasurer from 2 years to 1 year; and 5. Define the roles and responsibilities of the executive director.”

“The foundation's sole member is tacoma lutheran retirement community.”

“Tacoma lutheran retirement community's board of governors elects all of the foundation's trustees from a slate of candidates chosen by the foundation's governance committee.”

“Tacoma lutheran retirement community's board of governors (a) provides final approval of all amendments to the articles of incorporation and bylaws; (b) approves all policies and procedures in connection with the foundation's mission, goals and operations; and (c) approves investment guidelines and budgets.”

“The form 990 was reviewed by the cfo prior to filing. It will be reviewed by tlrc's board of governor's finance committee, then reviewed and approved by tlrc's board of governors, after filing.”

“The organization requires members of the board of trustees to annually review the conflict of interest policy and disclose any interests that could give rise to conflicts. Prior to board action on a transaction involving a conflict, the conflicted individual is required to disclose the conflict and all material facts. If it's unclear whether a conflict exists, the other board members make the determination by majority vote. The conflicted individual is required to leave the meeting for all votes and for discussions on the matter, except to disclose material facts and answer questions. After exercising due diligence, the board determines whether the foundation can obtain a more advantageous transaction that would not give rise to a conflict. If a more advantageous transaction is not identified, the board decides by majority vote whether to enter the transaction involving the conflict. If the board has reason to believe a trustee has failed to disclose an actual or potential conflict of interest, the individual is informed of the basis for such belief and given the opportunity to respond. If, after hearing the response and conducting follow-up investigation, the board determines that a trustee failed to disclose a conflict, appropriate disciplinary and corrective actions are taken.”

“The president/ceo's compensation is reviewed and approved by tlrc's board of governors. Other officers' compensation is reviewed and approved by tlrc's president/ceo.”

“The foundation's governing documents, conflict of interest policy and financial statements are available upon request.”

“Contribution to related organization 113,287. Change in value of split-interest agreements -24,346.”