2019-08-29T07:39:02-05:00 2018-12-31 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 221 W PHILADELPHIA STREET SUITE 200 YORK PA 17401 990 2018-01-01 570337132 BISHOP GADSDEN EPISCOPAL RETIREMENT COMMUNITY BISH 8434066298 1 BISHOP GADSDEN WAY CHARLESTON SC 29412 C WILLIAM TRAWICK PRESIDENT/CEO 8434066298 2019-08-28 1 KERRI N BOGDA P00760402 7178467000 96.80.2.34 2019-08-28 11:19:55 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 F58787FA80410BAE38B710EAF9FCC5760AD3BCDF 2018 2019-02-21 02:37:17Z C WILLIAM TRAWICK 1 BISHOP GADSDEN WAY CHARLESTON SC 29412 45933972 0 X WWW.BISHOPGADSDEN.ORG X 1943 SC OPERATION OF A FAITH-BASED RETIREMENT FACILITY PROVIDING HOUSING AND HEALTH CARE SERVICES 12 12 579 288 0 0 1557054 1958913 34135858 35574912 1251510 2019644 205189 214794 37149611 39768263 676298 626001 0 0 15586103 16216131 0 0 113975 18764109 19267996 35026510 36110128 2123101 3658135 175231710 173478933 133871982 132780319 41359728 40698614 X BISHOP GADSDEN, A LIFE CARE RETIREMENT COMMUNITY, EMBRACES GOD'S CALL TO MINISTRY. WE AFFIRM POSITIVE LIVING FOR ALL WHO LIVE AND WORK HERE. WE SERVE WITH INTEGRITY. WE EXERCISE WISE STEWARDSHIP. WE REACH OUT WITH A GENEROUS SPIRIT. 0 0 30490062 0 35574912 FOUNDED BY THE FOURTH EPISCOPAL BISHOP OF SOUTH CAROLINA IN 1850, BISHOP GADSDEN EPISCOPAL RETIREMENT COMMUNITY UPHOLDS THE TRADITION OF FAITH-BASED, NOT-FOR-PROFIT ORGANIZATIONS DEDICATED TO THE WELL-BEING OF THOSE PERSONS WHO, BECAUSE OF AGE, PERSONAL CONDITIONS, HEALTH AND THEIR EXPRESS DESIRE, CHOOSE TO RESIDE IN A RETIREMENT COMMUNITY. BISHOP GADSDEN IS A MISSION-DRIVEN, NOT-FOR-PROFIT-DRIVEN, ORGANIZATION. IT HAS A LONG-TERM OBLIGATION TO ITS RESIDENTS AND IS COMMITTED TO REMOVING FINANCIAL BARRIERS TO RESIDENCY. ITS ROOTS IN THE GREATER CHARLESTON COMMUNITY SPAN OVER 165 YEARS AND, THROUGH THE YEARS, IT HAS RESPONDED TO SPECIFIC NEEDS OF THE GREATER COMMUNITY. IT HAS LONG BEEN OPEN TO ALL MEN AND WOMEN WITHOUT REGARD TO RACE, CREED, RELIGIONS, SEXUAL PREFERENCE, OR NATIONAL ORIGIN.RETIREMENT COMMUNITY BISHOP GADSDEN SERVES APPROXIMATELY 500 SENIOR ADULTS, 62 YEARS OF AGE AND OLDER, RESIDING IN FOUR LEVELS OF CARE: INDEPENDENT COMMUNITY (260 UNITS), ASSISTED LIVING (80 UNITS), MEMORY SUPPORT (19 BEDS), AND SKILLED NURSING CARE (50 BEDS). BISHOP GADSDEN OPERATES TO MEET THE PRIMARY NEEDS OF SENIOR CITIZENS BY PROVIDING (1) RESIDENTIAL FACILITIES DESIGNED TO MEET PHYSICAL, EMOTIONAL, RECREATIONAL, SOCIAL, RELIGIOUS, AND SIMILAR NEEDS OF THE ELDERLY, (2) ACCESS TO HEALTHCARE SERVICES AS NEEDED, (3) ASSURANCE THAT THE ORGANIZATION IS RUN IN A FISCALLY RESPONSIBLE MANNER, AND (4) THE COMMITMENT OF FINANCIAL SECURITY TO ANY RESIDENT WHO RUNS OUT OF MONEY THROUGH NO FAULT OF HIS/HER OWN. BISHOP GADSDEN WAS SELECTED AS THE 2018 PHILANTHROPIC BUSINESS ORGANIZATION OF THE YEAR, A TESTAMENT TO THEIR DEDICATION TO THEIR RESIDENTS, EMPLOYEES, AND THE COMMUNITY IN WHICH THEY SERVE. 626001 626001 0 RESIDENT ASSISTANCE PROGRAM: BISHOP CHRISTOPHER GADSDEN FOUNDED THE HOME FOR ORPHANS AND WIDOWS IN 1850 TO ASSIST THOSE IN NEED. HIS VISION FOR A CARING COMMUNITY IS THE HEART AND SOUL OF THE ORGANIZATION NOW CALLED BISHOP GADSDEN. AT THE CORE OF BISHOP GADSDEN IS THE BELIEF AND EXECUTION OF THE CHARITABLE MISSION.SINCE 1995, BISHOP GADSDEN'S RESIDENT ASSISTANCE FUND HAS DONATED MORE THAN $4.73 MILLION IN CHARITABLE CARE TO RESIDENTS FACING FINANCIAL DIFFICULTIES. THE RESIDENT ASSISTANCE FUND ALLEVIATES ANY ANXIETIES RESIDENTS AND THEIR FAMILIES HAVE BY ASSURING THEM THAT THEY WILL CONTINUE TO RECEIVE THE CARE THEY NEED REGARDLESS OF WHETHER THEY CAN PAY. THROUGH THE CONTINUED EFFORTS OF BISHOP GADSDEN RESIDENTS, FAMILIES, STAFF, AND OTHER ORGANIZATIONS, THE RESIDENT ASSISTANCE FUND CONTINUES TO BE A HIGH PRIORITY. THIS IMPERATIVE FUND ALLOWS BISHOP GADSDEN TO ASSIST RESIDENTS AND FUTURE RESIDENTS WHO, BY NO FAULT OF THEIR OWN, CAN NO LONGER AFFORD THEIR CONTINUED CARE, WHILE ALSO SUPPORTING OUTSIDE CHARITABLE ORGANIZATIONS.ALL RESIDENTS WHO ARE RECEIVING FINANCIAL SUPPORT OR ASSISTANCE ARE BETWEEN THE AGES OF 73-98. THEY COME FROM THE GREATER CHARLESTON AREA, ARE BOTH MALE AND FEMALE, AND CROSS ALL SOCIOECONOMIC LINES. THEIR QUALIFICATIONS RANGE FROM HAVING A PAST STRONG COMMITMENT TO THEIR CHURCH COMMUNITY-THROUGH VOLUNTEERING TIME AND TALENTS. TO RESIDENTS WHO HAVE MADE SIGNIFICANT CONTRIBUTIONS TO THE CHARLESTON AREA. THEIR CONTRIBUTIONS MAY BE OF AN ARTISTIC NATURE, ONE OF PUBLIC SERVICE, OR THE ABILITY TO HAVE CREATED A POSITIVE PHILOSOPHICAL CHANGE. BISHOP GADSDEN WILL CONTINUE TO EXTEND ASSISTANCE TO RESIDENTS, ACTING ON THE FIRM BELIEF THAT REMOVING ECONOMIC BARRIERS TO RESIDENCY IS PART OF ITS MISSION. 0 0 0 CHARITABLE GIVING AND GENEROUS SPIRIT PROGRAMS: THROUGHOUT BISHOP GADSDEN'S EXISTENCE, A GIVING COMMITMENT HAS BEEN ON THE FOREFRONT RESULTING IN OVER $6,911,082 IN CHARITABLE CARE AND GIFTS BEING RAISED FOR AND DISTRIBUTED TO OTHER NON-PROFIT ORGANIZATIONS IN OUR LOCAL COMMUNITY.THE CHARITABLE MISSION COMMITTEE'S NONPROFIT SELECTION CHAIR AND FELLOW RESIDENTS SELECT A SMALL GROUP (5 TO 7) NONPROFITS FROM A LIST OF 30 TO 40 NONPROFIT GRANT APPLICATIONS TO SUPPORT EACH YEAR. LED BY RESIDENTS, WITH ASSISTANCE FROM STAFF, THE CHARITABLE MISSION COMMITTEE SETS A FUNDRAISING GOAL. IN 2018, THIS IMPORTANT COMMITTEE DISBURSED $233,475 IN CASH AND $298,152 IN-KIND ITEMS. THESE FUNDS WERE ALLOCATED AS FOLLOWS: $109,000 TO VANTAGE POINT FOUNDATION, $38,000 TO LOWCOUNTRY FOOD BANK, $38,000 TO SEA ISLAND HABITAT FOR HUMANITY, $38,000 TO TURNING LEAF, WALK TO END ALZHEIMER'S $2,200, HALLIE HILL $2,070, READING PARTNERS $2,800, JAMES ISLAND OUTREACH $2,775, $630 CHARLESTON ARE SENIOR CENTER AND TOYS FOR TOTS - 450 TOYS.IN ADDITION TO CHARITABLE CAUSES THAT SUPPORT OUTSIDE ORGANIZATIONS, RESIDENTS AND STAFF CONTRIBUTE TO THE STRONGHEART EMPLOYEE EDUCATION SCHOLARSHIP, WITH $92,987 BEING DISTRIBUTED TO EMPLOYEES FOR EDUCATION PURPOSES.RESIDENTS AND STAFF CONTRIBUTE TO MORE THAN 1,000 LOCAL AND NATIONAL CHARITABLE ORGANIZATIONS - BISHOP GADSDEN'S CULINARY DEPARTMENT DONATED 27,971 LBS OF FOOD, EQUALING A GIFT OF $190,203, AND 41,956 MEALS. THE ORGANIZATION ALSO PROVIDES OTHER SUPPORT TO THE LOCAL COMMUNITY, SUCH AS THE FREE USE OF MEETING SPACE TO LOCAL CHARITIES, STUDENT INTERNSHIPS FROM LOCAL COLLEGES, TUTORING SERVICES TO THE NEIGHBORING MIDDLE SCHOOL, SPACE FOR AFTER SCHOOL ACTIVITIES, PERFORMANCE SPACE FOR SCHOOLS AND OTHER LOCAL GROUPS, FOOD DONATIONS TO LOCAL FOOD BANKS, AND OTHER ACTIVITIES MEANT TO CEMENT THE ORGANIZATION'S RELATIONSHIP WITH THE LOCAL COMMUNITY. EXECUTIVE STAFF ALSO SIT ON COMMUNITY BOARDS SUCH AS ROPER ST. FRANCIS, SEA ISLAND HABITAT FOR HUMANITY, AND LEADINGAGE SC. 31116063 1 1 0 1 0 0 0 0 0 1 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 103 0 579 1 0 0 0 0 0 0 0 0 0 1 0 0 0 X 12 12 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 SC X C WILLIAM TRAWICK PRESIDENTCEO 8437623300 1 BISHOP GADSDEN WAY CHARLESTON SC 29412 CRAIG ASCHE BOARD MEMBER 1.00 X 0 0 0 THE REV ALASTAIR VOTAW BOARD MEMBER 1.00 X 0 0 0 WARREN MERSEREAU CHAIRMAN (RES. IN 2018) 1.00 X X 0 0 0 MARGARET P BLACKMER CURRENT CHAIR 1.00 X X 0 0 0 PAUL MCMANUS BOARD MEMBER 1.00 X 0 0 0 BRIAN HUSSAIN SECRETARY/TREASURER 1.00 X X 0 0 0 BARBARA EDLUND BOARD MEMBER 1.00 X 0 0 0 DAVID BENNETT BOARD MEMBER 1.00 X 0 0 0 BARBARA CHRISTIE VICE CHAIR 1.00 X X 0 0 0 DR CHARLES C GEER BOARD MEMBER 1.00 X 0 0 0 MELINDA LUCKA KELLEY BOARD MEMBER 1.00 X 0 0 0 ROBERT VINGI BOARD MEMBER 1.00 X 0 0 0 RIGHT REV SKIP ADAMS BOARD MEMBER 1.00 X 0 0 0 C WILLIAM TRAWICK PRESIDENT/CEO 50.00 X 313737 0 45528 SARAH E H TIPTON VICE PRESIDENT/COO 50.00 X 223464 0 41763 LYNNE L KERRISON CFO 50.00 X 206557 0 28680 JAMES A EPPER DIRECTOR OF CULINARY SERVICES 50.00 X 118890 0 11583 BERNARD C KRAFSIG IT DIRECTOR 40.00 X 110053 0 7235 DEBRA L PARKER DIRECTOR OF NURSING 40.00 X 104650 0 11684 DANIEL F LARRABEE EVS DIRECTOR 40.00 X 107772 0 7752 LAURA A WILSON MARKETING DIRECTOR 40.00 X 102957 0 15461 1288080 0 169686 8 0 1 0 RLPS ARCHITECTS 250 VALLEYBROOK DR LANCASTER PA 17601 ARCHITECTURAL SERVICES 1267388 S K BURT CONSTRUCTION LLC 201 BAYBERRY RUN SUMMERVILLE SC 29485 CONSTRUCTION SERVICES 1113949 LOW COUNTRY PAINTING LLC PO BOX 2265 SUMMERVILLE SC 29484 PAINTING SERVICES 755411 TURF TECHS LLC 127 HAMPTON HALL LN MONCKS CORNER SC 29461 LANDSCAPING SERVICES 591082 RAWLS CONSTRUCTION LLC 1199 STARLING RD HANAHAN SC 29410 CONSTRUCTION SERVICES 579022 24 1958913 786621 1958913 RESIDENT REVENUE 623000 35574912 35574912 35574912 1021452 1021452 44911 3960 40951 40951 40951 7079195 6015550 65453 1063645 -65453 998192 998192 75888 80746 -4858 -4858 LATE CHARGES 900099 23801 23801 BUILDING SERVICES 900099 13968 13968 COVERED PARKING 900099 10700 10700 130232 130232 178701 39768263 35574912 0 2258362 626001 626001 859727 720184 129167 10376 12469349 10445433 1952678 71238 246237 208010 37307 920 1480337 1247635 223767 8935 1160481 977988 175405 7088 9334 9334 49688 49688 4351 4351 149549 149549 732367 551488 178214 2665 206602 206602 1784622 1428906 355165 551 344471 3300 336241 4930 4067631 4067631 99527 64591 34133 803 1453348 1453348 6808082 6600519 207563 733408 733408 FOOD & BEVERAGE 2176958 2168460 5401 3097 MEDICAL EXPENSES 269360 269360 RESIDENT EXPENSES 140992 107831 31469 1692 EMPLOYEE EXPENSES 114333 65241 49092 123373 110137 11556 1680 36110128 31116063 4880090 113975 2476031 2407867 5881031 4464826 4033 9886 282242 945864 100754 131282 178386 241994 190445796 70245433 119077625 120200363 12804367 13460034 34427241 31616817 175231710 173478933 2282667 3199089 36950121 40937583 48159972 45085972 46479222 43557675 133871982 132780319 X 30969491 30057870 5867248 6070522 4522989 4570222 41359728 40698614 175231710 173478933 X 3658135 -4275265 -43984 X 0 1 X 1 0 X 3545720 1230499 869811 1557054 1958913 9161997 25476850 26178561 31477519 34135858 35574912 152843700 29022570 27409060 32347330 35692912 37533825 162005697 65875 23288 18348 107511 4708 1050490 1420572 2475770 65875 27996 1050490 1438920 2583281 159422416 889790 1040393 882970 993492 1066362 4873007 889790 1040393 882970 993492 1066362 4873007 1176568 1079760 940803 137674 254589 3589394 31088928 29529213 34171103 36824078 38854776 170468098 0.93520 0.92470 0.02860 0.02900 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: FORFEITURES TERM INC MISC - 2014 AMOUNT: $ 1,176,568. 2015 AMOUNT: $ 1,079,760. 2016 AMOUNT: $ 940,803. MISCELLANEOUS REVENUE - 2017 AMOUNT: $ 52,511. 2018 AMOUNT: $ 117,530. CHAPEL SERVICES FEE - 2017 AMOUNT: $ 4,000. 2018 AMOUNT: $ 6,750. TOBACCO SURCHARGE REV - 2017 AMOUNT: $ 4,130. 2018 AMOUNT: $ 2,535. POSTAGE SALES - 2017 AMOUNT: $ 6,970. 2018 AMOUNT: $ 8,664. CLINIC HOURS INCOME - 2017 AMOUNT: $ 10,050. 2018 AMOUNT: $ 2,746. INDEPENDENT LIVING - 2017 AMOUNT: $ 16,801. 2018 AMOUNT: $ 5,975. PARKING - 2017 AMOUNT: $ 10,300. 2018 AMOUNT: $ 10,700. LATE CHARGES - 2017 AMOUNT: $ 32,912. 2018 AMOUNT: $ 23,801. GROSS SALES OF INVENTORY - 2018 AMOUNT: $ 75,888. 0 0 0 0 0 0 0 0 1 4351 4351 0 PART II-B, LINE 1: THIS AMOUNT REPRESENTS THE PORTION OF MEMBERSHIP DUES ATTRIBUTABLE TO LOBBYING. 5854200 47233 -159613 8000 5733820 5306975 140970 412255 6000 5854200 5105737 49143 158095 6000 5306975 4665021 647124 -200408 6000 5105737 2483618 2143250 44153 6000 4665021 0.00000 0.79710 0.20290 0 0 5181353 5181353 156778296 56914612 99863684 21301562 12772344 8529218 7184585 558477 6626108 120200363 CF GLOBAL MULTI-ASSET FUND 31616817 F 31616817 GIFT ANNUITIES 434044 OTHER LIABILITIES 527409 REFUNDABLE ENTRANCE FEES 42595022 RENTAL DEPOSITS 1200 43557675 35384171 -4275265 -193533 -4468798 39852969 -84706 -84706 39768263 36045285 84706 84706 35960579 149549 149549 36110128 PART V, LINE 4: THE ENDOWMENT ASSETS ARE INVESTED IN A MANNER THAT IS INTENDED TO PRESERVE AND GROW CAPITAL, STRIVE FOR CONSISTENT ABSOLUTE RETURNS, PRESERVE PURCHASING POWER BY STRIVING FOR LONG-TERM RETURNS WHICH EITHER MATCH OR EXCEED THE SET PAYOUT, CONTROL FEES AND INFLATION WITHOUT PUTTING THE PRINCIPAL VALUE AT PRUDENT RISK, AND DIVERSIFY INVESTMENTS CONSISTENT WITH COMMONLY ACCEPTED INDUSTRY STANDARDS TO MINIMIZE THE RISK OF LARGE LOSSES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -43,984. INVESTMENT FEES -149,549. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -80,746. RENTAL EXPENSES -3,960. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 80,746. RENTAL EXPENSES 3,960. PART XII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT FEES 149,549. 1 FINANCIAL ASSISTANCE 8 626001 PART I, LINE 2: FINANCIAL ASSISTANCE IS GIVEN TO RESIDENTS WHO QUALIFY FOR RESIDENCY IN EVERY WAY EXCEPT FINANCIAL. ALL PROSPECTIVE RESIDENTS SEEKING FINANCIAL ASSISTANCE UNDERGO THE SAME SCREENING THAT ALL OTHER PROSPECTIVE RESIDENTS DO. IF A CURRENT RESIDENT SEEKS FINANCIAL ASSISTANCE, BISHOP GADSDEN REQUIRES AN UPDATE OF HIS/HER CONFIDENTIAL FINANCIAL INFORMATION. WE MAY ALSO REQUIRE FURTHER DOCUMENTS IN THE FORM OF TAX RETURNS AND/OR BANK STATEMENTS. A RESIDENT IS NEVER ASKED TO LEAVE BISHOP GADSDEN IF HE/SHE OUTLIVES RESOURCES THROUGH NO FAULT OF HIS/HER OWN. X X X 0 1 0 0 0 0 0 1 0 C WILLIAM TRAWICK PRESIDENT/CEO 272305 0 25400 0 16032 0 41500 0 4028 0 359265 0 0 0 SARAH E H TIPTON VICE PRESIDENT/COO 187699 0 25400 0 10365 0 35500 0 6263 0 265227 0 0 0 LYNNE L KERRISON CFO 171258 0 25338 0 9961 0 21034 0 7646 0 235237 0 0 0 PART I, LINE 3 THE CEO BONUS IS DETERMINED BY THE BOARD. THE BOARD ALSO DETERMINES THE DISCRETIONARY BONUS POOL FOR THE EMPLOYEES. THIS IS DOCUMENTED IN THE BOARD MINUTES. PART I, LINE 4B C WILLIAM TRAWICK (PRESIDENT/CEO), LYNNE KERRISON (CFO), AND SARAH E. H. TIPTON (VICE PRESIDENT/COO) PARTICIPATE IN A 457(B) DEFERRED COMPENSATION PLAN. AT THE END OF THE YEAR, THE TOTAL AMOUNT OF EMPLOYER CONTRIBUTIONS TO THE 457(B) PLANS WERE $17,000 TO EACH PARTICIPANT. THIS COMPENSATION IS REFLECTED AS PART OF THE DEFERRED COMPENSATION REPORTED ON FORM 990, PART VII AND IN SCHEDULE J, PART II, COLUMN (C). PART I, LINE 7 THE EXECUTIVE COMMITTEE TAKES INTO ACCOUNT THE CEO'S PERFORMANCE REPORT AND FEEDBACK FROM VARIOUS INTERNAL SOURCES. THE DECISION IS THEN MADE HOW TO ALLOCATE THE BONUS POOL OF FUNDS AMONG THE CEO AND EMPLOYEES AT THE DIRECTOR LEVEL AND ABOVE. A SC JOBS - ECONOMIC DEVELOPMENT AUTHORITY 570960018 2014-05-07 56563209 REFUNDING OF SERIES 2014 0 0 0 B SC JOBS - ECONOMIC DEVELOPMENT AUTHORITY 570960018 2016-07-28 11162500 TO REFUND THE SERIES 2002F1 BONDS 0 0 0 C SC JOBS - ECONOMIC DEVELOPMENT AUTHORITY 570960018 2017-04-03 12015486 REFUNDING OF SERIES 2007 BOND ISSUE 0 0 0 A 31605878 56563209 660000 42791783 13111426 2015 1 0 1 1 B 1282782 11162500 162181 11000319 2016 1 0 1 1 C 1068056 12015486 165486 11850000 2017 1 0 1 1 A 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 C 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 1 0 0 0 0 0 1 C 0 0 1 0 0 0 0 0 1 A 1 B 1 C 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: SC JOBS - ECONOMIC DEVELOPMENT AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 06/28/2017 X 2 516621 NYSE X 1 270000 APPRAISAL 1 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B AN INTERNAL REVIEW WAS PERFORMED BY THE ORGANIZATION'S ADMINISTRATIVE TEAM. A COPY OF FORM 990 WAS PROVIDED TO THE GOVERNING BODY FOR THEIR REVIEW BEFORE FILING THE FORM 990 WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C AT THE BEGINNING OF EACH BOARD YEAR, ALL MEMBERS OF THE BOARD OF TRUSTEES ARE REQUIRED TO COMPLETE A CONFLICT OF INTEREST STATEMENT. THE POLICY COVERS FAMILIES AND BUSINESS RELATIONSHIPS AS POTENTIAL SOURCES OF CONFLICT. AFTER THE STATEMENTS ARE TURNED IN, THEY ARE REVIEWED BY THE CHAIRMAN OF THE BOARD AND THE PRESIDENT/CEO. SHOULD A CONFLICT BE NOTED, THE CHAIRMAN AND PRESIDENT/CEO EITHER ASK THE BOARD MEMBER TO RESOLVE THE CONFLICT OR RECUSE HIM OR HERSELF FROM VOTING ON MATTERS WHERE THE CONFLICT EXISTS. FORM 990, PART VI, SECTION B, LINE 15 TO ENSURE COMPENSATION IS WITHIN FAIR MARKET VALUE FOR THE SENIOR LIVING INDUSTRY, THE BOARD OF TRUSTEES REVIEWS 990 DATA AND ASSOCIATION PUBLICATIONS. THE BOARD ALSO QUESTIONS LEADING CONSULTANTS IN OUR INDUSTRY AND PERFORMS SALARY REVIEWS. ALL DISCUSSIONS REGARDING COMPENSATION ARE DOCUMENTED IN BOARD MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE CONFLICT OF INTEREST POLICY AND THE FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. THE FINANCIAL STATEMENTS ARE ALSO POSTED ON THE ORGANIZATION'S WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -43,984.