2014-12-22T08:40:48-06:00 2014-06-30 232108173 REINSEL KUNTZ LESHER LLP PO BOX 8408 LANCASTER PA 176048408 990 2013-07-01 251542218 FOXDALE VILLAGE CORPORATION FOXD 8142383322 500 MARYLYN AVENUE STATE COLLEGE PA 16801 COREY HAMILTON DIRECTOR OF FINANCIAL SERVICES 8142383322 2014-12-12 1 MARK S ZETTLEMOYER CPA P01468750 7173945666 2014-12-12 2013 2015-11-30 17:44:51Z COREY HAMILTON 500 MARYLYN AVENUE STATE COLLEGE PA 16801 27359741 0 X WWW.FOXDALEVILLAGE.ORG X 1986 PA FOXDALE VILLAGE IS A NOT-FOR-PROFIT QUAKER-DIRECTED CONTINUING CARE RETIREMENT COMMUNITY. THROUGH COMMUNITY SERVICES AND PROGRAMS, FOXDALE PROVIDES FOR THE SOCIAL, SPIRTUAL, NUTRITIONAL, RESIDENTIAL, WELLNESS AND HEALTH CARE NEEDS OF OLDER PEOPLE AT A REASONABLE COST WHILE PROVIDING A SUPPORTIVE WORKING ENVIRONMENT FOR EMPLOYEES. OUR COMMUNITY IS BASED ON QUAKER VALUES AND QUAKER CONVICTION THAT ALL PEOPLE ARE TO BE TREATED WITH DIGNITY AND LOVING RESPECT. 15 14 286 100 0 0 133862 81803 14020653 17076906 636070 930865 82261 108708 14872846 18198282 115892 68799 0 0 7297400 7844483 0 0 126876 7722475 8883046 15135767 16796328 -262921 1401954 82106009 88294182 71375232 74434759 10730777 13859423 X FOXDALE VILLAGE IS A NOT-FOR-PROFIT QUAKER DIRECTED CONTINUING CARE RETIREMENT COMMUNITY. THROUGH COMMUNITY SERVICES AND PROGRAMS, FOXDALE PROVIDES FOR THE SOCIAL, SPIRITUAL, NUTRITIONAL, RESIDENTIAL, WELLNESS AND HEALTH CARE NEEDS OF OLDER PEOPLE AT REASONABLE COST WHILE PROVIDING A SUPPORTIVE WORKING ENVIRONMENT FOR EMPLOYEES. OUR COMMUNITY IS BASED ON QUAKER VALUES AND QUAKER CONVICTION THAT ALL PEOPLE ARE TO BE TREATED WITH DIGNITY AND LOVING RESPECT. 0 0 12874445 68799 17076906 ON THE CUSP OF OUR 25TH ANNIVERSARY YEAR AS A QUAKER DIRECTED CONTINUING CARE RETIREMENT COMMUNITY, FOXDALE VILLAGE CONTINUES TO ENABLE RESIDENTS TO MAINTAIN THE HIGHEST LEVELS OF INDEPENDENCE AND WELLNESS POSSIBLE. FOXDALE IS AN INTELLECTUALLY AND SOCIALLY VIBRANT COMMUNITY WHICH RESIDENTS HELP TO SHAPE AND FORM THROUGH THEIR ACTIVE SERVICE ON OVER 50 RESIDENT ASSOCIATION COMMITTEES. AS WELL WE PROVIDE A SAFE SECURE HOME AND HEALTHCARE AS APPROPRIATE TO THE CIRCUMSTANCES OF EACH INDIVIDUAL THAT WE SERVE. IN THE 2014 FISCAL YEAR, FOXDALE SERVED 367 RESIDENTS AND THEIR FAMILIES WHILE EMPLOYING A LITTLE OVER 100 FULL-TIME AND ANOTHER 100 PART TIME/CASUAL STAFF. THE MAJORITY OF FOXDALE RESIDENTS LIVE IN ON-CAMPUS APARTMENTS AND COTTAGE APARTMENTS, BUT CAN REST COMFORTABLY WITH THE KNOWLEDGE THAT PERSONAL CARE AND SKILLED NURSING FACILITIES ARE AVAILABLE SHOULD THEY ONE DAY REQUIRE THESE TYPES OF SUPPORT. FOXDALE HAS 205 APARTMENT/COTTAGE UNITS, 46 LICENSED SKILLED NURSING PRIVATE ROOMS AND 55 PRIVATE PERSONAL CARE ROOMS. THE $50 MILLION EXPANSION ENABLED FOXDALE TO PROVIDE TWO MEMORY SUPPORT NEIGHBORHOODS WHICH ARE HOME TO RESIDENTS LIVING WITH MODERATE TO SEVERE DEMENTIA. IN ADDITION, FOXDALE NOW ACCEPTS DIRECT ADMISSIONS INTO HEALTH CARE FOR SHORT OR LONG-TERM STAYS AND IS ABLE TO PROVIDE SHORT TERM REHABILITATION SERVICES TO ELDERS FROM THE BROADER COMMUNITY.THANKS TO THE EXEMPLARY EFFORTS OF OUR DEDICATED STAFF FOXDALE HAS A FIVE STAR (HEALTHCARE) RATING FROM CONTENT MANAGEMENT SYSTEM. IN 2013 FOXDALE WAS VOTED BEST RETIREMENT COMMUNITY BY READERS OF STATE COLLEGE MAGAZINE. TO ENSURE PROVISION OF ONGOING HIGH QUALITY SERVICE TO RESIDENTS FOXDALE PARTICIPATES IN VARIOUS QUALITY IMPROVEMENT PROGRAMS WITH ITS SISTER COMMUNITIES THROUGH THE PEACE CHURCH COMPLIANCE AND RISK MANAGEMENT PROGRAMS. FROM A FINANCIAL PERSPECTIVE, FOXDALE IS ON FIRM FOOTING. FOXDALE HAS MAINTAINED A POSITIVE INCREASE IN CASH FROM OPERATIONS AND INVESTMENTS DESPITE ISSUES IN THE GREATER ECONOMY. FOXDALE HAD 556 DAYS CASH ON HAND AS OF JUNE 30, 2014, EXCEEDING THE INDUSTRY-WIDE MEASURE OF 392 DAYS. THANKS TO PRUDENT FISCAL MANAGEMENT COUPLED WITH AN ONGOING COMMITMENT TO SOCIAL RESPONSIBLE INVESTING, FOXDALE WAS ABLE TO CONTINUE TO INVEST IN ONGOING INFRASTRUCTURE IMPROVEMENTS EVEN DURING ITS EXPANSION.FOXDALE WAS FOUNDED BY A GROUP OF STATE COLLEGE FRIENDS WHOSE GOAL WAS TO CREATE A COMMUNITY IN WHICH PEOPLE "WOULD CARE FOR ONE ANOTHER." THAT CARE EXTENDS TO CENTRE COUNTY AND BEYOND. FOXDALE PROVIDES MEETING AND EVENT SPACE AT NO COST TO MULTIPLE NONPROFIT ORGANIZATIONS, CONTRIBUTED OVER $17,000 TO LOCAL NONPROFITS IN FISCAL YEAR 2014, COLLABORATED WITH STATE COLLEGE AREA HIGH SCHOOL TO LAUNCH A NEW NURSE AID PROGRAM, HOSTED INTERGENERATIONAL PROGRAMS, AND PROVIDED LEARNING OPPORTUNITIES TO INTERNS AND OTHER ASPIRING HEALTH CARE PROFESSIONALS. STAFF MEMBERS ENTHUSIASTICALLY ENGAGE IN AN ARRAY OF VOLUNTEER AND PHILANTHROPIC ACTIVITIES SERVING ON COMMUNITY BOARDS AND SUPPORTING THE COMMUNITY IN OTHER WAYS. FOXDALE HAS MAINTAINED ITS COMMITMENT TO THE QUAKER PRINCIPLE OF STEWARDSHIP OF THE EARTH WHILE ENSURING SOUND FISCAL MANAGEMENT. AS A RESULT OF THE EXPANSION AND RENOVATION FOXDALE NOW HAS 2,900 LED LIGHT FIXTURES AND A NEW GEOTHERMAL SYSTEM THAT HEATS AND COOLS ALMOST 90,000 SQUARE FEET OF LIVING SPACE. AS WELL, THE POWER FOR ALL OF FOXDALE IS PROVIDED FROM WIND-POWER PROVIDERS. IN ADDITION, FOXDALE AND ITS RESIDENTS PARTICIPATE IN RECYCLING PROGRAMS THANKS IN PART TO RESIDENT MEMBERS OF THE FOXDALE WOODSHOP HAVING CONTRIBUTED 150 HOURS OF THEIR TIME TO CONSTRUCT CAMPUS RECYCLING UNITS.AS A 501(C)(3) FOXDALE RESIDENTS AND STAFF HAVE BENEFITTED GREATLY FROM PHILANTHROPY WHICH DONORS HAVE GENEROUSLY DIRECTED TO FOXDALE. THANKS TO COUNTLESS GIFTS GIVEN SINCE FOXDALE'S FOUNDING, RESIDENTS AND THEIR FAMILIES CAN REST ASSURED THAT CARE WILL CONTINUE SHOULD FINANCIAL CHALLENGES IMPEDE A RESIDENT'S ABILITY TO PAY THEIR MONTHLY FEES. IN FISCAL YEAR 2014 THE COMMUNITY FUND PROVIDED APPROXIMATELY $11,000 PER MONTH TO ASSIST RESIDENTS WHO FOUND IT A CHALLENGE TO PAY THEIR MONTHLY FEES. GENEROUS PHILANTHROPIC SUPPORT HAS ENABLED FOXDALE TO INSTALL AN OUTDOOR MEMORY GARDEN INTENTIONALLY DESIGNED TO PROVIDE A SAFE, YET BEAUTIFUL ENVIRONMENT SUPPORTING THE HIGHEST QUALITY OF LIFE POSSIBLE FOR ALL RESIDENTS INCLUDING THOSE LIVING WITH SIGNIFICANT FORMS OF DEMENTIA. STAFF SUPPORT INCLUDES AN EXCEPTIONAL BENEFITS PROGRAM. FUNDING FOR PROFESSIONAL DEVELOPMENT IS INCLUDED IN THE ANNUAL BUDGET AND MADE AVAILABLE VIA THE TRAINING AND TUITION REIMBURSEMENT FUND WHICH WAS ESTABLISHED BY ANONYMOUS DONORS. STAFF ALSO HAVE ACCESS TO WELLNESS PROGRAMS, EXERCISE EQUIPMENT, AND HEALTH SCREENINGS. PHILANTHROPIC SUPPORT DIRECTED TO THE GIVERS OF CARE FUND PROVIDES ACCESS TO NO-INTEREST LOANS TO STAFF FACING SHORT-TERM OR HOUSING NEEDS.FOXDALE'S NEIGHBORHOODS AND BEAUTIFUL GROUNDS, OPPORTUNITIES FOR INTELLECTUAL ENGAGEMENT, AND COMMITMENT TO SUSTAINABILITY ARE JUST A FEW OF THE REASONS RESIDENTS AND OTHERS HIGHLY RATE FOXDALE. AS FOXDALE MOVES TOWARD ITS 25TH ANNIVERSARY IN 2015 THE COMMUNITY CONTINUES TO BE THE VIBRANT, CARING COMMUNITY ITS FOUNDERS ENVISIONED. TO LEARN MORE ABOUT FOXDALE PLEASE VISIT WWW.FOXDALEVILLAGE.ORG. 12874445 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 54 0 1 286 1 0 0 0 0 0 0 0 0 0 0 X 15 14 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X X COREY HAMILTON 8142383322 500 EAST MARYLYN AVENUE STATE COLLEGE PA 16801 MR GLENDON BLUME EXECUTIVE COMMITTEE MEMBER 2.00 X 0 0 0 MR JAMES BRADLEY BOARD MEMBER 2.00 X 0 0 0 MR JOHN BUZZELL BOARD MEMBER 2.00 X 0 0 0 MR SAMUEL FINDLEY BOARD MEMBER 2.00 X 0 0 0 MS LYNNE GRUTZECK EXECUTIVE COMMITTEE MEMBER 2.00 X 0 0 0 MS BETH JOHNSTON EXECUTIVE COMMITTEE MEMBER 2.00 X 0 0 0 MS LISA MARSHALL EXECUTIVE COMMITTEE MEMBER 5.00 X 0 0 0 MR PATRICK MORSE BOARD MEMBER 2.00 X 0 0 0 MR GREGORY OLSEN BOARD MEMBER (TERM EXPIRED 5/2014) 2.00 X 0 0 0 MS MARJORIE NELSON BOARD MEMBER 2.00 X 0 0 0 MR HERMAN RICHEY BOARD MEMBER 2.00 X 0 0 0 MR ROBERT SCHRAUF EXECUTIVE COMMITTEE MEMBER 2.00 X 0 0 0 MR RICHARD SHAW BOARD MEMBER 2.00 X 0 0 0 MS ANN SIDONE EXECUTIVE COMMITTEE MEMBER 2.00 X 0 0 0 MS MYRA SLETSON BOARD MEMBER 2.00 X 0 0 0 MR MICHAEL SMYER BOARD MEMBER 2.00 X 0 0 0 MR RICHARD LYSLE EXECUTIVE DIRECTOR 40.00 X 182751 0 9386 MR COREY HAMILTON DIRECTOR OF FINANCIAL SERVICES 40.00 X 128671 0 21927 MS JOY BODNAR DIRECTOR OF HEALTH SERVICES 40.00 X 119044 0 13326 430466 0 44639 3 0 1 0 SODEXO BOX 360170 PITTSBURGH PA 15251 FOOD SERVICES 334179 REHABCARE GROUP INC PO BOX 503534 ST LOUIS MO 63150 REHAB SERVICES/THERAPIES 298417 2 81803 81803 RESIDENT SERVICE REVENUE 623000 17069006 17069006 PROGRAM SERVICE REVENUE 623000 7900 7900 17076906 285694 285694 29157 25052 4105 4105 4105 9781578 9002198 134209 779380 -134209 645171 645171 DINING REVENUE 900099 44956 44956 GUEST HOUSE REVENUE 721000 25275 25275 GIFT SHOP REVENUE 453220 18547 18547 15825 15825 104603 18198282 17076906 0 1039573 17380 17380 51419 51419 392394 233276 159118 5647246 4556949 988298 101999 194645 98206 92083 4356 1175055 1035228 127483 12344 435143 376139 50827 8177 47580 47580 37000 37000 430913 337286 93627 142294 142294 578427 498132 80295 104926 24901 80025 1141879 1141879 36501 29480 7021 38983 16040 22943 1674327 1674327 2596707 2561478 35229 94580 94580 FOOD - PROGRAM 635917 627791 8126 PHARMACY - PROGRAM 369711 369711 THERAPIES - PROGRAM 343616 343616 MEDICAL CARE & ACTIVITI 273386 273386 336299 187568 148731 16796328 12874445 3795007 126876 898 650 1806334 1128408 131319 233474 1774551 753079 1681452 221501 68978913 11980549 57614057 56998364 17924772 26320118 1172626 2638588 82106009 88294182 808248 1506641 28930153 29915535 41107713 42781583 529118 231000 71375232 74434759 X 5481882 8164079 5077023 5510969 171872 184375 10730777 13859423 82106009 88294182 X 1401954 1764819 -50000 11873 X 0 1 X 1 0 X 360345 1539518 1268900 133862 81803 3384428 10331478 10338819 12244196 14020653 17076906 64012052 10691823 11878337 13513096 14154515 17158709 67396480 0 0 0 67396480 181148 233914 264061 264057 314851 1258031 181148 233914 264061 264057 314851 1258031 29718 69417 55483 76334 104603 335555 10902689 12181668 13832640 14494906 17578163 68990066 0.97690 0.97790 0.01820 0.01790 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 942828 942828 62843933 10190081 52653852 5083460 1790468 3292992 108692 108692 56998364 REFUNDABLE DEPOSITS 231000 231000 X 20134864 1764819 12502 1777321 18357543 -159261 -159261 18198282 16955589 159261 159261 16796328 0 16796328 PART X, LINE 2: THE CORPORATION ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES USING A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAX AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD HAS BEEN MEET. MANAGEMENT HAS DETERMINED THT THERE WERE NO TAX UNCERTAINTIES THAT MET THE RECOGNITION THRESHOLD IN 2014 AND 2013. THE CORPORATION'S FEDERAL EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURNS FOR THE YEARS SUBSEQUENT TO 2011 REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF BENEFICIAL INTEREST PERPETUAL TRUST 12,502. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSE -25,052. LOSS ON DISPOSAL OF PROPERTY -134,209. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 25,052. LOSS ON DISPOSAL OF PROPERTY 134,209. 1 SCHOLARSHIPS 14 51419 CASH N/A N/A PART I, LINE 2: ELIGIBILITY: FULL AND PART-TIME EMPLOYEES IN GOOD STANDING WHO HAVE BEEN EMPLOYED BY THE ORGANIZATION FOR ONE YEAR OR MORE ARE ELIGIBLE FOR THE PROGRAM. EMPLOYEES MUST REMAIN EMPLOYED PART-TIME OR FULL-TIME THROUGH THE DURATION OF THE PROGRAM AND MUST REMAIN IN GOOD STANDING WITH THE ORGANIZATION. THIS IS MONITORED THROUGH THE HUMAN RESOURCES DEPARTMENT. SELECTION: EMPLOYEES WISHING TO ACCESS THE FUND, COMPLETE AN APPLICATION WHICH DESCRIBES THE COURSE AND THE BENEFIT TO FOXDALE FOR THE EMPLOYEE TO COMPLETE THE COURSE OR PROGRAM. THE PARTICIPATION IN THE TUITION AND TRAINING REIMBURSEMENT PROGRAM IS APPROVED BY BOTH THE EMPLOYEE'S SUPERVISOR AND THE HUMAN RESOURCES DEPARTMENT. COURSES OF STUDY MUST BE DIRECTLY APPLICABLE TO CURRENT EMPLOYMENT OR FUTURE OPPORTUNITIES AT FOXDALE VILLAGE. AMOUNT OF SCHOLARSHIP: SCHOLARSHIPS ARE MAINTAINED IN A SPREADSHEET IN THE HUMAN RESOURCES OFFICE. PAPER COPIES OF ALL PAYMENTS ARE HELD IN THE HUMAN RESOURCES DEPARTMENT FILED BY PARTICIPANT IN THE PROGRAM, AND A DUPLICATE COPY IS HELD IN THE ACCOUNTS PAYABLE DEPARTMENT FILED BY THE RECIPIENT OF THE CHECK. THE TOTAL AMOUNT OF A SCHOLARSHIP MAY BE UPTO $10,000 IN ANY CALENDAR YEAR. X X X X X X 0 0 0 0 0 0 0 0 0 MR RICHARD LYSLE EXECUTIVE DIRECTOR 182751 0 0 0 0 0 661 0 8725 0 192137 0 0 0 MR COREY HAMILTON DIRECTOR OF FINANCIAL SERVICES 128671 0 0 0 0 0 5462 0 16465 0 150598 0 0 0 A CENTRE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 202121974 2010-10-14 30000000 NEW CONSTRUCTION AND CAMPUS RENOVATIONS 0 0 0 B CENTRE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 202121974 2011-07-27 9640000 NEW CONSTRUCTION AND CAMPUS RENOVATIONS 0 0 0 C CENTRE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 202121974 2012-02-09 9335590 NEW CONSTRUCTION AND CAMPUS RENOVATIONS 0 0 0 A 2701184 30000000 609006 329373 27982386 1079235 2013 0 0 0 1 B 860744 9640000 169823 140234 8983143 346800 2013 0 0 0 1 C 2632079 9335590 29794 139969 8770896 394931 2013 0 0 0 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 1 1 0 0 0 0 B 1 1 0 0 0 0 C 1 1 0 0 0 0 A 1 B 1 C 1 SCHEDULE K, PART IV, LINE 7: FOXDALE VILLAGE DOES NOT HAVE A DEBT SERVICE RESERVE FUND ASSOCIATED WITH ANY OF THE THREE OUTSTANDING DEBT ISSUES. AS SUCH, FOXDALE VILLAGE DOES NOT HOLD FUNDS TO WHICH THE REQUIREMENTS OF SECTION 148 PERTAINS. SUCH PROVISIONS FOR THE ACCOUNTING OF SECTION 148 WILL BE PUT INTO PLACE IF THE FINANCING STRUCTURE OF FOXDALE VILLAGE CHANGES AND SUCH REQUIREMENTS APPLY. MYRA SLETSON BOARD MEMBER 15758388 MYRA SLETSON IS A CREDIT OFFICER WITH NORTHWEST SAVINGS BANK. NORTHWEST SERVES AS THE LEAD BANK IN FOXDALE'S FINANCING PACKAGE. IN THE 2013-14 FINANCIAL YEAR, FOXDALE BORROWED AN ADDITIONAL $7,877,877 FROM NORTHWEST SAVINGS BANK, REPAID PRINCIPAL OF $6,204,007 AND PAID INTEREST EXPENSE OF $1,676,504. MYRA HAS BEEN EXCUSED FROM ANY AND ALL MEETINGS RELATING TO THE FINANCING IN AN EFFORT TO MAINTAIN PROPER INDEPENDENCE FROM FINANCING DECISIONS. FOXDALE ALSO USES AN EXTERNAL CONSULTANT FOR EVALUATING THE FINANCING PACKAGE AND ANY SUBSEQUENT CHANGES. THIS IS TO ENSURE THAT THE STRUCTURE, INTEREST RATE, AND FEES ARE RELATED TO THE FINANCING ARE IN THE BEST INTEREST OF FOXDALE VILLAGE. 0 FORM 990, PART VI, SECTION B, LINE 11 THE INFORMATION USED IN THE 990 WAS PREPARED PRIMARILY BY THE DIRECTOR OF FINANCIAL SERVICES WHO PROVIDED THIS INFORMATION TO THE AUDITING FIRM REINSEL KUNTZ LESHER. REINSEL KUNTZ LESHER PREPARED THE 990 AND SUBMITTED IT BACK TO THE FINANCE AND PROPERTY COMMITTEE FOR REVIEW AT THEIR COMMITTEE MEETING. THE COMMITTEE THEN FORWARDED THE DOCUMENT TO THE BOARD OF TRUSTEES FOR THEIR REVIEW AT WHICH TIME IT WAS APPROVED. AFTER APPROVAL, REINSEL KUNTZ LESHER SUBMITTED THE 990 TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD MEMBERS AND KEY EMPLOYEES MUST SUBMIT A CONFLICT OF INTEREST STATEMENT AND THESE STATEMENTS ARE REVIEWED BY EACH BOARD MEMBER AT THE BOARD MEETING. INDIVIDUAL BOARD MEMBERS ARE ENCOURAGED TO ASK QUESTIONS REGARDING ANYONE WITH A CONFLICT AT THAT MEETING AND THE BOARD WOULD DECIDE IF THEY FEEL THE CONFLICT IS LARGE ENOUGH TO REQUIRE ACTION. NO CONFLICTS EXISTED WITH THE EXCEPTION OF THAT OF MYRA SLETSON AS DESCRIBED IN ON SCHEDULE L, TRANSACTION WITH INTERESTED PERSONS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES REVIEWS AND APPROVES THE SALARY FOR THE EXECUTIVE DIRECTOR. THE PRIMARY TOOL FOR COMPARITIVE PURPOSES ARE SALARY SURVEYS. ALL OTHER EMPLOYEE COMPENSATION RATES ARE ESTABLISHED BY THE EXECUTIVE DIRECTOR AND THE DIRECTOR OF HUMAN RESOURCES. THEY ALSO USE SALARY SURVERYS FOR ESTABLISHING COMPENSATION RATES AS WELL AS COMPARITIVE DATA FROM LOCAL SOURCES TO ENSURE COMPENSATION DOES NOT EXCEED FAIR MARKET VALUE. THE REVIEW AND APPROVAL PROCESS IS DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 19 CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE BY REQUEST FROM THE ADMINISTRATION OF FOXDALE VILLAGE. BOARD MEETING SUMMARIES ARE MADE AVAILABLE TO THE PUBLIC IN THE FOXDALE VILLAGE LIBRARY AND POSTED ON THE RESIDENT BULLETIN BOARD FOLLOWING THE MEETINGS. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUST 12,502. OTHER CHANGE IN NET ASSETS -629.