2025-04-29T10:16:30-05:00 2024-12-31 410746749 CLIFTONLARSONALLEN LLP 227 WEST TRADE STREET SUITE 800 CHARLOTTE NC 28202 990 2024-01-01 237271041 THE CHAPEL HILL RESIDENTIAL RETIREMENT CENTER INC CHAP 9199684511 750 WEAVER DAIRY ROAD CHAPEL HILL NC 27514 MARIANNE RATCLIFFE PRESIDENT & CEO 9199684511 2025-04-25 1 1 KATHERINE A WARLICK P02065266 7049985200 2025-04-25 2024 2025-03-06 01:10:19Z CAROL WOODS RETIREMENT COMMUNITY MARIANNE RATCLIFFE 750 WEAVER DAIRY ROAD CHAPEL HILL NC 27514 87296070 0 X WWW.CAROLWOODS.ORG X 1972 NC OPERATION OF A CCRC PROVIDING HOUSING, HEALTHCARE, AND OTHER SERVICES TO SENIORS. 17 17 511 75 0 0 82465 167761 29866864 33560164 3277870 6692511 163500 163200 33390699 40583636 1032350 908108 0 0 19362987 20305549 0 0 0 13777442 14756236 34172779 35969893 -782080 4613743 121999246 127793531 88359028 92424916 33640218 35368615 X CAROL WOODS SHALL BE A CHARITABLE, NOT-FOR-PROFIT CORPORATION MEETING THE NEEDS OF OLDER ADULTS FOR HOUSING, HEALTH, WELL-BEING, AND PROTECTION OF FINANCIAL SECURITY. THE MISSION OF CAROL WOODS SHALL BE TO PROVIDE A SAFE, HEALTHFUL, AND SECURE ENVIRONMENT FOR PERSONS THROUGHOUT THEIR LATER YEARS, AS WELL AS ENGAGE IN COOPERATIVE RESEARCH, DEVELOPMENT AND EDUCATION IN AREAS ENCOMPASSED BY THE MISSION. HIGH QUALITY RESIDENTIAL LIVING AND HEALTH SERVICES SHALL BE PROVIDED ACCORDING TO INDIVDUAL NEEDS. RESIDENTS' ON-GOING NEEDS TO MAINTAIN AND PROMOTE HEALTH AND WELL-BEING SHALL BE SUPPORTED THROUGH THE PROVISION OF APPROPRIATE RESOURCES. CAROL WOODS SHALL ENCOURAGE DIVERSITY, RESIDENTS' LEADERSHIP, PARTICIPATION IN AND SERVICE TO CAROL WOODS AND THE LARGER COMMUNITY. CAROL WOODS SHALL ALSO FOSTER A HIGH QUALITY WORK EXPERIENCE FOR STAFF AND FACILITATE STAFF DEVELOPMENT THAT EMBODIES THE VALUES OF THE ORGANIZATION. 0 0 28881881 908108 33560164 DURING THE YEAR, THE ORGANIZATION PROVIDED HOUSING, HEALTHCARE AND OTHER RELATED SERVICES TO SENIOR RESIDENTS THROUGH OPERATION OF A CONTINUING CARE RETIREMENT COMMUNITY (CCRC) CONTAINING 315 INDEPENDENT LIVING APARTMENTS/COTTAGES, 59 ASSISTED LIVING ACCOMMODATIONS, AND A 60-BED HEALTH CENTER. SERVED AN AVERAGE OF 910 SENIORS UNDER LIFE CARE ARRANGEMENTS, INCLUDING AN AVERAGE OF 84 LIVING PERMANENTLY IN ASSISTED LIVING AND THE HEALTH CENTER. (CONTINUED ON SCHEDULE O)ADDITIONALLY, THE ORGANIZATION PROVIDED THE FOLLOWING PROGRAMS AND SERVICES:- OFFERED A CCRC WITHOUT LODGING PROGRAM APPROVED BY THE NC DEPARTMENT OF INSURANCE. SERVED AN AVERAGE OF 146 IN THE PROGRAM OVER THE COURSE OF THE YEAR. - CONTINUED PROACTIVE AND INTENTIONAL CHARITABLE CARE AND COMMUNITY BENEFIT PROGRAM, INCLUDING: 1) MADE CHARITABLE GIFTS TO ORANGE COUNTY ($175,000), TOWNS OF CHAPEL HILL AND CARRBORO ($130,000), AND THE LOCAL PUBLIC SCHOOLS ($82,000) TO SUPPORT VITAL SERVICES TO SENIORS IN THE COMMUNITY; AND 2) MADE $463,775 IN CHARITABLE GIFTS AND FINANCIAL SUPPORT TO OTHER NON-PROFIT ORGANIZATIONS PURSUING MISSIONS SIMILAR TO CAROL WOODS. - CONTINUED TO PROVIDE IN-KIND BENEFITS TO THE OUTSIDE COMMUNITY, INCLUDING: 1) MAKING AVAILABLE CAROL WOODS' CAMPUS AND STAFF FOR A VARIETY OF EDUCATIONAL AND COMMUNITY SUPPORT PURPOSES -- PROVIDING INTERNSHIPS AND OTHER OPPORTUNITIES FOR STUDENTS TO LEARN OF AGING SERVICES OPPORTUNITIES IN DISCIPLINES RANGING FROM MEDICAL AND NURSE PRACTITIONER, TO NURSING, SOCIAL WORK AND CERTIFIED NURSING ASSISTANTS; 2) DONATED BUILDING MATERIALS TO THE HABITAT RESTORE AND OTHER ITEMS TO THE AREA THRIFT STORE. 28881881 1 1 0 1 0 0 0 0 0 0 1 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 21 0 511 1 0 0 0 0 0 0 0 0 0 0 0 0 X 17 17 1 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X TRACY BIESECKER 9199183280 750 WEAVER DAIRY RD CHAPEL HILL NC 27514 JESS AYLOR CHAIR OF THE BOARD 1.00 X X 0 0 0 LARRY MCMANUS VICE CHAIR 1.00 X X 0 0 0 DELORES BAILY BOARD MEMBER 1.00 X 0 0 0 REBECCA BRENT BOARD MEMBER 1.00 X 0 0 0 SUSAN COPPOLA BOARD MEMBER 1.00 X 0 0 0 STEPHEN ELKINS-WILLIAMS BOARD MEMBER 1.00 X 0 0 0 JOHN EVANS BOARD MEMBER 1.00 X 0 0 0 JOHN HAWKINS BOARD MEMBER 1.00 X 0 0 0 DOROTHY HENINGER BOARD MEMBER 1.00 X 0 0 0 CHARLES HOUSE BOARD MEMBER 1.00 X 0 0 0 GEORGE LENSING BOARD MEMBER 1.00 X 0 0 0 ALLEN MASK BOARD MEMBER 1.00 X 0 0 0 TOM MILLER BOARD MEMBER 1.00 X 0 0 0 KENDALL PAGE BOARD MEMBER 1.00 X 0 0 0 WILL PERREAULT BOARD MEMBER 1.00 X 0 0 0 BEN POPKIN BOARD MEMBER 1.00 X 0 0 0 BRUCE RUNBERG BOARD MEMBER 1.00 X 0 0 0 MARGARETE SANDELOWSKI BOARD MEMBER 1.00 X 0 0 0 BETH SCHULTZ BOARD MEMBER 1.00 X 0 0 0 ADAM STEIN BOARD MEMBER 1.00 X 0 0 0 JOSH GURLITZ BOARD MEMBER 1.00 X 0 0 0 CRYSTAL TORAIN BOARD MEMBER 1.00 X 0 0 0 MARIANNE RATCLIFFE PRESIDENT & CEO 39.00 1.00 X 304649 0 58848 KENNETH G REEB JR VP OF FINANCE / CFO (RETIRED) 39.00 1.00 X 238642 0 54378 JENNIFER WILSON VP OF WELL-BEING 40.00 X 137304 0 52037 LIZBETH TOMAJKO VP OF HR 40.00 X 133244 0 19390 CRAIG ANDERSON REHABILITATION COORDINATOR 40.00 X 129088 0 21104 LYDIA BARNES RN - REGISTERED NURSE 57.00 X 136036 0 33503 SARAH SMILEY OCCUPATIONAL THERAPIST 46.00 X 136036 0 47802 1214999 0 287062 7 0 1 0 ROSCO'S REMODELING SERVICE 3301 CLANDON PARK DRIVE RALEIGH NC 27613 CARPENTRY, GENERAL BUILDING REPAIRS 1743805 JD SERVICE NOW 4416 BENNET MEMORIAL DRIVE DURHAM NC 27705 LICENSED PLUMBER CONTRACTOR 1417032 2 167761 167761 RESIDENT CHARGES 623000 28218092 28218092 HEALTH CENTER - CHRRC 623000 4901291 4901291 GUESTS' MEALS AND LODG 623000 249452 249452 191329 191329 33560164 2644025 2644025 163200 0 163200 163200 163200 50760920 46449100 263334 4311820 -263334 4048486 4048486 40583636 33560164 0 6855711 856775 856775 51333 51333 16110697 13952529 2158168 550776 468796 81980 2436023 1999235 436788 1208053 1061153 146900 51507 51507 92881 92881 238138 238138 1202311 857527 344784 56203 56203 1412075 613166 798909 1367321 1170374 196947 30828 30828 855200 649952 205248 4355220 3309967 1045253 347250 347250 FOOD PURCHASES 2062046 2062046 SUPPLIES AND SMALL EQU 1055699 796221 259478 MAINTENANCE AND REPAIRS 993031 957948 35083 LICENSES AND DUES 623349 61682 561667 13177 13177 35969893 28881881 7088012 0 177663 177386 2440892 4402227 1667307 2212581 226920 239628 307550 314647 130088985 63590552 61981172 66498433 55072345 53948629 125397 121999246 127793531 3894896 3172898 53159586 55602563 28652922 26087417 2651624 7562038 88359028 92424916 X 33585267 35354865 54951 13750 33640218 35368615 121999246 127793531 X 4613743 -3163275 277929 X 0 1 X 1 0 X 302673 283596 220405 80647 167761 1055082 28727869 29714847 30186058 31580115 33560164 153769053 29030542 29998443 30406463 31660762 33727925 154824135 291540 283596 350710 370058 488842 1784746 0 291540 283596 350710 370058 488842 1784746 153039389 2186269 1924892 1831726 1728119 2807225 10478231 2186269 1924892 1831726 1728119 2807225 10478231 11959 14177 26136 31228770 31937512 32238189 33388881 36535150 165328502 0.92570 0.92900 0.06340 0.06080 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: MISCELLANEOUS - 2020 AMOUNT: $ 11,959. 2021 AMOUNT: $ 14,177. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 1518 1518 0 PART II-B, LINE 1: THE CENTER BELONGS TO TWO TRADE ASSOCIATIONS; BOTH OF WHOM USE A PERCENTAGE OF ANNUAL DUES FOR LOBBYING ACTIVITIES. 4453189 4453189 99382686 52902591 46480095 12181860 7473151 4708709 14071250 3214810 10856440 66498433 X PART X, LINE 2: THE FOLLOWING IS THE FOOTNOTE FROM THE CONSOLIDATED FINANCIAL STATEMENTS FOR CAROL WOODS AND THE CHARITABLE FUND: CAROL WOODS AND THE CHARITABLE FUND ARE NONPROFIT CORPORATIONS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER INTERNAL REVENUE CODE (IRC) SECTION 501(C)(3). THE CHARITABLE FUND IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES BY VIRTUE OF BEING ORGANIZED AND OPERATED FOR THE PURPOSE OF SUPPORTING THE CENTER THROUGH ITS 501(C)(3) STATUS. CAROL WOODS AND THE CHARITABLE FUND FILE AS TAX-EXEMPT ORGANIZATIONS. MANAGEMENT IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE THE TAX-EXEMPT STATUS OF CAROL WOODS OR THE CHARITABLE FUND. MANAGEMENT IS NOT AWARE OF ANY SIGNIFICANT ACTIVITIES THAT ARE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME OR EXCISE OR OTHER TAXES FOR CAROL WOODS OR THE CHARITABLE FUND. 1 CHAPEL HILL-CARRBORO PUBLIC SCHOOL FOUNDATION PO BOX 877 CARRBORO NC 27510 561421977 501(C)(3) 17000 0 PROMOTE CAREERS IN AGING SERVICES UCC LIVING CENTERS INC 103 CULBREATH ROAD CHAPEL HILL NC 27516 561964906 501(C)(3) 25000 0 SUPPORT HOUSING FOR SENIORS HABITAT FOR HUMANITY OF ORANGE COUNTY 88 VILCOM CENTER DRIVE SUITE L110 CHAPEL HILL NC 27514 581603427 501(C)(3) 25000 0 SUPPORT HOUSING FOR SENIORS HOPE RENOVATIONS 205 LLOYD STREET CARRBORO NC 27510 823675207 501(C)(3) 35000 0 HOME RENOVATIONS FOR SENIORS INTER-FAITH COUNCIL FOR SOCIAL SERVICES 110 WEST MAIN STREET CARRBORO NC 27510 591224041 501(C)(3) 25000 0 MEALS FOR FOOD-INSECURE SENIORS; HOUSING FOR HOMELESS SENIORS MARIAN CHEEK JACKSON CENTER 512 WEST ROSEMARY STREET CHAPEL HILL NC 27514 461988511 501(C)(3) 40000 0 SUPPORT HOUSING FOR SENIORS LEADING AGE NORTH CAROLINA FOUNDATION 222 NORTH PEARSON STREET RALEIGH NC 27601 561541496 501(C)(3) 25000 0 SUPPORT SENIOR SERVICES CHAPEL HILL CARRBORO MEALS ON WHEELS PO BOX 2102 CHAPEL HILL NC 27515 591721954 501(C)(3) 50000 0 MEALS FOR FOOD-INSECURE SENIORS OE ENTERPRISES 348 ELIZABETH BRADY ROAD HILLSBOROUGH NC 27278 570740781 501(C)(3) 12000 0 SUPPORTED EMPLOYMENT FOR EMPLOYEES SERVING SENIORS ORANGE COUNTY NORTH CAROLINA 200 SOUTH CAMERON STREET HILLSBOROUGH NC 27278 566000327 ORANGE COUNTY, NC 175000 0 GENERAL SUPPORT, SENIOR SERVICES PEE WEE HOMES 8410 MERIN ROAD CHAPEL HILL NC 27516 822624086 501(C)(3) 60000 0 AFFORDABLE HOUSING FOR SENIORS PIEDMONT HEALTH SENIORCARE 88 VILCOM CENTER DRIVE SUITE L110 CHAPEL HILL NC 27514 560952737 501(C)(3) 15000 0 PACE PROGRAM FOR FRAIL SENIORS SENIOR PHARM ASSIST 406 RIGGSBEE AVENUE SUITE 201 DURHAM NC 27701 562084639 501(C)(3) 10000 0 PRESCRIPTION MANAGEMENT FOR SENIORS SNOW APPROACH FOUNDATION INC 133 EAST KING STREET HILLSBOROUGH NC 27278 882816398 501(C)(3) 20000 0 SUPPORT OF CARE GIVERS OF PERSONS LIVING WITH DEMENTIA SOLTYS PLACE 105 MEADOWLANDS DRIVE HILLSBOROUGH NC 27278 562460614 501(C)(3) 31175 0 SUPPORT OF PERSONS LIVING WITH DEMENTIA ST PAUL'S AME NIDA 140 W FRANKLIN STREET STE 206 CHAPEL HILL NC 27516 352370056 501(C)(3) 15000 0 AFFORDABLE HOUSING FOR SENIORS TOWN OF CHAPEL HILL 405 MARTIN LUTHER KING BLVD CHAPEL HILL NC 27514 566001199 TOWN OF CHAPEL HILL 125000 0 GENERAL SUPPORT, SENIOR SERVICES UNC SCHOOL OF MEDICINE CAMPUS BOX 7008 CHAPEL HILL NC 27599 566057494 501(C)(3) 50000 0 GERIATRIC MEDICINE WORKFORCE DEVELOPMENT UNC SCHOOL OF NURSING 104 AIRPORT DRIVE CHAPEL HILL NC 27516 566001393 501(C)(3) 15000 0 PROMOTE CAREERS IN AGING SERVICES CHARLES HOUSE ASSOCIATION 7511 SUNRISE ROAD CHAPEL HILL NC 27514 581582881 501(C)(3) 75600 0 BELOW-MARKET RENTS FOR SENIOR DAY CARE CENTER 21 TUITION ASSISTANCE FOR EMPLOYEES 52 29333 FINANCIAL SUPPORT FOR EMPLOYEES 14 13177 PART I, LINE 2: EACH GRANT RECIPIENT IS ASKED TO PROVIDE AN ANNUAL REPORT ON THE USE OF THE FUNDS THAT HAD BEEN DONATED BY CAROL WOODS. EACH YEAR GRANT RECIPIENTS ARE INVITED TO A MEETING OF THE CAROL WOODS RESIDENT ASSOCIATION WHERE THEY ARE ASKED TO REPORT BRIEFLY ON THE OUTCOMES FROM THE FUNDS THAT WERE GRANTED. TWO GROUPS OF INDIVIDUALS MAY RECEIVE FINANCIAL SUPPORT FROM CAROL WOODS. FIRST, CAROL WOODS PROVIDES FINANCIAL ASSISTANCE TO RESIDENTS WHO ARE UNDER CONTRACT SHOULD THEY OUTLIVE THEIR ASSETS. IF ASSETS ARE DEPLETED TO A DEFINED LEVEL, CAROL WOODS WILL PROVIDE A MONTHLY CREDIT TO THEIR STATEMENT IN AN AMOUNT INTENDED TO STOP FURTHER DETERIORATION OF ASSETS. SECOND, CAROL WOODS OFFERS A TUITION ASSISTANCE PROGRAM AND A STAFF HARDSHIP PROGRAM THROUGH ITS HUMAN RESOURCES DEPARTMENT FOR FULL-TIME EMPLOYEES. THE FORMER PROGRAM SUPPORTS STAFF WHO ARE TAKING COURSES IN AN ACCREDITED SCHOOL TOWARD A DEGREE OR CERTIFICATE RELATED TO CAROL WOODS' MISSION. THE LATTER PROGRAM PROVIDES SUPPORT FOR EMPLOYEES WHO ARE EXPERIENCING FINANCIAL HARDSHIP DUE TO CIRCUMSTANCES BEYOND THEIR CONTROL. PART III, COLUMN (B): DETERMINE THE NUMBER OF RECIPIENTS FROM PAYMENT RECORDS. X X X X X 0 0 0 0 0 0 0 0 0 MARIANNE RATCLIFFE PRESIDENT & CEO 304649 0 0 0 0 0 12938 0 45910 0 363497 0 0 0 KENNETH G REEB JR VP OF FINANCE / CFO (RETIRED) 238642 0 0 0 0 0 10128 0 44250 0 293020 0 0 0 JENNIFER WILSON VP OF WELL-BEING 137304 0 0 0 0 0 5970 0 46067 0 189341 0 0 0 SARAH SMILEY OCCUPATIONAL THERAPIST 136036 0 0 0 0 0 5459 0 42343 0 183838 0 0 0 LYDIA BARNES RN - REGISTERED NURSE 136036 0 0 0 0 0 5509 0 27994 0 169539 0 0 0 LIZBETH TOMAJKO VP OF HR 133244 0 0 0 0 0 5408 0 13982 0 152634 0 0 0 CRAIG ANDERSON REHABILITATION COORDINATOR 129088 0 0 0 0 0 5242 0 15862 0 150192 0 0 0 PART I, LINE 3 ANNUALLY, THE EXECUTIVE COMMITTEE OF THE ORGANIZATION WILL REVIEW THE OFFICERS (PRESIDENT/CEO, CFO) AS WELL AS KEY DEPARTMENT DIRECTOR POSITIONS. THIS IS DOCUMENTED IN THE ORGANIZATION'S MINUTES EVERY THREE TO FOUR YEARS. THE EXECUTIVE COMMITTEE OF THE ORGANIZATION'S BOARD RETAINS AN OUTSIDE CONSULTING FIRM TO ASSESS THE SALARIES OF ITS CORPORATE OFFICERS AS WELL AS KEY DEPARTMENT DIRECTOR POSITIONS. A REPORT IS PREPARED AND PRESENTED TO THE EXECUTIVE COMMITTEE FOR REVIEW. THIS INDEPENDENT, EXTERNAL PROCESS WAS LAST COMPLETED IN 2023. A NORTH CAROLINA MEDICAL CARE COMMISSION 521309402 2018-06-12 39570000 REFUND 2010 AND 2012 BONDS 0 0 0 A 13200000 39570000 39570000 1 0 1 1 A 0 0 0 0 0 0 1 A 0 0 0 1 1 1 TRUIST BANK 8.800000000000 0 0 0 0 1 A 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: NORTH CAROLINA MEDICAL CARE COMMISSION DATE THE REBATE COMPUTATION WAS PERFORMED: 05/31/2023 FORM 990, PART VI, SECTION A, LINE 1A TWO RESIDENTS SERVE AS EX OFFICIO WITHOUT VOTING RIGHTS. TWO OTHER RESIDENTS SERVE AS VOTING MEMBERS. PRESIDENT & CEO SERVES AS EX OFFICIO WITH NO VOTING RIGHTS. THE CORPORATION HAS AN EXECUTIVE COMMITTEE OF THE BOARD COMPRISED ENTIRELY OF MEMBERS OF THE GOVERNING BOARD. IN THE MONTHS THAT THE FULL BOARD DOES NOT MEET, THE EXECUTIVE COMMITTEE OF THE BOARD MEETS. THE SCOPE OF THE EXECUTIVE COMMITTEE IS ALMOST AS BROAD AS THE FULL BOARD, BUT FOR MOST SIGNIFICANT ACTIONS, SUCH AS RESOLUTIONS TO INCUR ADDITIONAL DEBT, ADOPTION OF THE ANNUAL BUDGET, ETC. THESE ACTIONS ARE GENERALLY DONE WITH THE FULL BOARD. FORM 990, PART VI, SECTION A, LINE 2 KENNETH G. REEB, JR SERVED AS THE ORGANZIATION'S CFO UNTIL JANUARY 2025. HIS PARENTS ARE RESIDENTS OF CAROL WOODS. FORM 990, PART VI, SECTION A, LINE 4 BYLAWS WERE AMENDED DURING 2024. FORM 990, PART VI, SECTION B, LINE 11B THE DRAFT 990 IS REVIEWED AT THE BOARD FINANCE COMMITTEE PRIOR TO FILING, AND A COPY IS PROVIDED TO THE FULL BOARD OF DIRECTORS PRIOR TO ITS SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY BY 1) DISCUSSING THE POLICY INITIALLY WITH BOARD OF DIRECTOR CANDIDATES PRIOR TO BEING NOMINATED TO THE BOARD, 2) REVIEWING THE POLICY ANNUALLY WITH EACH BOARD MEMBER, 3) ASKING EACH BOARD MEMBER TO ANNUALLY SIGN A STATEMENT INDICATING THAT HE OR SHE HAS READ AND UNDERSTANDS THE POLICY, AND 4) ASKING EACH BOARD MEMBER TO ALSO DISCLOSE IN WRITING ANY ORGANIZATIONAL RELATIONSHIP OR OTHER ACTIVITY OR INTEREST THAT MIGHT POSSIBLY CONSTITUTE A CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 ANNUALLY, THE EXECUTIVE COMMITTEE OF THE ORGANIZATION WILL REVIEW THE OFFICERS (PRESIDENT/CEO, CFO) AS WELL AS KEY DEPARTMENT DIRECTOR POSITIONS. THIS IS DOCUMENTED IN THE ORGANIZATION'S MINUTES EVERY THREE TO FOUR YEARS. THE EXECUTIVE COMMITTEE OF THE ORGANIZATION'S BOARD RETAINS AN OUTSIDE CONSULTING FIRM TO ASSESS THE SALARIES OF ITS CORPORATE OFFICERS AS WELL AS KEY DEPARTMENT DIRECTOR POSITIONS. A REPORT IS PREPARED AND PRESENTED TO THE EXECUTIVE COMMITTEE FOR REVIEW. THIS INDEPENDENT, EXTERNAL PROCESS WAS LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 1)ARTICLES OF INCORPORATION ARE AVAILABLE ON THE WEBSITE OF THE NC SECRETARY OF STATE, 2)BYLAWS ARE AVAILABLE FOR INSPECTION UPON REQUEST, 3)ANNUAL DISCLOSURE STATEMENT IS AVAILABLE ONLINE THROUGH THE NC DEPT OF INSURANCE AND INCLUDES, IN APPENDICES, COPIES OF THE DOI CCRC LICENSE, DHSR NURSING FACILITY LICENSE, ANNUAL AUDITED FINANCIAL STATEMENTS, 5-YEAR FINANCIAL PROJECTIONS, CONFLICT OF INTEREST POLICY, CCRC CONTRACT, AND OTHER CORPORATE INFORMATION INCLUDING CURRENT LISTING OF BIOS ON BOARD OF DIRECTORS, 4)CORPORATE CODE OF CONDUCT AND PRIVACY POLICY ARE AVAILABLE VIA CAROL WOODS' WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF INTEREST RATE SWAP 277,929. THE CAROL WOODS CHARITABLE FUND INC 750 WEAVER DAIRY ROAD CHAPEL HILL NC 27514 204262143 SUPPORTING ORGANIZATION NC 501(C)(3) LINE 12A, I THE CHAPEL HILL RESIDENTIAL RETIREMENT CENTER INC 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 THE CAROL WOODS CHARITABLE FUND INC C 167761 ACTUAL AMOUNTS TRANSFERRED