Twelve Oaks Foundation

“Management of twelve oaks senior living is conducted by episcopal communities and services, the sole member of twelve oaks. Ecs's management and employees are responsible for operating the residence. They interview, hire, train and supervise staff, market the facilities and services, and implement all of the necessary systems needed for operation of the property, including payroll, accounts payable, billing and accounting, food service management and physical plant maintenance.”

“Episcopal communities and services will operate as the sole statutory member of twelve oaks foundation.”

“The form 990 is prepared by an outside cpa firm and presented to the board of directors. The board of directors review the form 990 and approve the filing.”

“Each officer (ceo and vice presidents) and members of the board of directors complete a conflict of interest statement annually and submit it to the audit committee. The audit committee reviewsconflict of interest statements provided by the officers and directors as the need arises but not less than annually.”

“The compensation of the president/ceo and is established by a related organization, episcopal communities & services for seniors (ecs). Ecs used all of the following in establishing compensation: governance committee, independent compensation consultant, form 990 of other organizations, written employment contract, compensation survey or study, and approval by the board or governance committee. The independent compensation consultant provides the organization with a determination of reasonableness for compensation.”

“The organization makes its governing documents and conflict of interest policy available upon request.”

“Purchased services other program services: program service expenses 66,053. Management and general expenses 62,228. Fundraising expenses 0. Total expenses 128,281. Purchased services skilled nursing: program service expenses 77,609. Management and general expenses 0. Fundraising expenses 0. Total expenses 77,609.”

“Transfer of net assets to related parties, net 449,432. Change in interest in related parties' net assets -7,208.”