Heath Alliance For Care Inc

HEATH ALLIANCE HAS BEEN ORGANIZED EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, AND TO CARRY OUT THE PURPOSES OF HEATH VILLAGE, INC., AND THE HOUSE OF THE HOLY COMFORTER (D/B/A CANTERBURY VILLAGE), BOTH OF WHICH ARE NEW JERSEY NONPROFIT CORPORATIONS HAVING HEATH ALLIANCE AS THE SOLE CORPORATE MEMBER. HEATH VILLAGE IS A RETIREMENT COMMUNITY PROVIDING INDEPENDENT LIVING, RESIDENTIAL HEALTH CARE AND SKILLED NURSING CARE. HOUSE OF THE HOLY COMFORTER, ALSO KNOWN AS CANTERBURY VILLAGE, IS AN ASSISTED LIVING FACILITY FOR THE AGED.HEATH ALLIANCE NOMINATES AND ELECTS THE TRUSTEES OF THE BOARD OF EVERY SUBSIDIARY; PROVIDED THAT A MAJORITY OF THE TRUSTEES OF THE HEATH VILLAGE BOARD SHALL SIMULTANEOUSLY BE TRUSTEES OF HEATH ALLIANCE. HEATH ALLIANCE ALSO APPOINTS THE CHAIRPERSON OF THE CANTERBURY BOARD, AS WELL AS THE CHIEF EXECUTIVE OFFICER WHO IS EMPLOYED BY HEATH VILLAGE, IS A TRUSTEE OF THE BOARDS OF HEATH VILLAGE AND CANTERBURY AND IS RESPONSIBLE FOR THE MANAGEMENT AND OPERATION OF ALL SUBSIDIARIES. HEATH ALLIANCE REVIEWS AND APPROVES THE FOLLOWING FOR ALL SUBSIDIARIES: ANNUAL AND LONG-TERM CAPITAL AND OPERATING BUDGETS AND MAKES ANY CHANGES THEREIN; ANY CONTRACT OR TRANSACTION WHICH WAS NOT PROVIDED FOR IN THE BUDGETS; ANY NEW, OR CHANGES TO ANY EXISTING, STRATEGIC PLAN; ANY TRANSACTION THAT REQUIRES A CERTIFICATE OF NEED OR ANY OTHER GOVERNMENTAL AUTHORIZATION; ANY PLAN OF DISSOLUTION; ANY TRANSACTION PROVIDING FOR THE SALE, LEASE, EXCHANGE, MORTGAGE, PLEDGE, OR CREATION OF A SECURITY INTEREST IN OR OTHER DISPOSITION OF ALL OR SUBSTANTIALLY ALL OF ITS ASSETS; ADOPTION OF A PLAN OF MERGER OR CONSOLIDATION WITH ANOTHER CORPORATION; AMENDMENTS TO THE SUBSIDIARY BYLAWS; THE ORGANIZATION OR ACQUISITION OF ANY AFFILIATE OR SUBSIDIARY; AND ANY CONTRIBUTIONS, GRANTS, OR LOANS TO ANY OTHER ORGANIZATION OR CORPORATION OTHER THAN HEATH ALLIANCE. THE HEATH ALLIANCE FOR CARE BOARD MAY ALSO PERFORM THE DUTIES OF A SUBSIDIARY BOARD IF THAT BOARD DOES NOT ACT FOR ANY REASON. THE HEATH ALLIANCE FOR CARE FINANCE AND CORPORATE DEVELOPMENT COMMITTEE IS RESPONSIBLE FOR THE FOLLOWING: REVIEW AND ANALYZE THE FINANCIAL VIABILITY AND IMPACT ON THE STRATEGIC PLAN OF THE PARTICULAR PROJECT, PLAN, FUNCTION, OR BUDGET OF EACH SUBSIDIARY AND REPORT ITS FINDINGS AND RECOMMENDATIONS TO THE BOARD; REVIEW AND APPROVE THE ANNUAL OPERATING AND CAPITAL BUDGETS OF EACH SUBSIDIARY; REVIEW AND APPROVE THE SELECTION OF THE AUDITOR AND FINANCIAL ADVISOR; REVIEW AND PROVIDE FOR THE ANNUAL AUDIT OF THE BOOKS AND SECURITIES OF HEATH ALLIANCE AND EACH SUBSIDIARY BY A FIRM OF CERTIFIED PUBLIC ACCOUNTANTS; REVIEW THE FUNDS AND RESOURCES OF HEATH ALLIANCE AND EACH OF ITS SUBSIDIARIES; REVIEW PERIODICALLY THE FINANCIAL RESULTS FOR HEATH ALLIANCE AND EACH SUBSIDIARY; REVIEW MANAGEMENT'S FINANCIAL PLAN WHICH SHALL SERVE AS A GUIDE TO THE EACH SUBSIDIARY'S BOARD IN ITS DELIBERATIONS OF AND RECOMMENDATIONS FOR NEW FACILITIES OR SERVICES AND FOR FINANCING ANY FACILITIES OR SERVICES APPROVED FOR IMPLEMENTATION BY THE HEATH ALLIANCE BOARD; REVIEW AND SUBMIT APPROPRIATE COMMENTS TO THE BOARD ON ALL PROJECTS REQUIRING BOARD APPROVAL; REVIEW PLANS FOR MAJOR IMPROVEMENTS/MAINTENANCE OR EXPANSION OF THE FACILITIES OF THE SUBSIDIARIES; REVIEW RECOMMENDED PLANS FOR THE LONG-RANGE DEVELOPMENT AND FUTURE DIRECTION OF THE SUBSIDIARIES; AND ASSIST IN THE PREPARATION OF FINAL FORMULATION OF THE ENTITY'S MASTER PLAN.DURING THE FISCAL YEAR ENDING JUNE 30, 2022, HEATH ALLIANCE FOR CARE MANAGED THE OPERATIONS OF BOTH SUBSIDIARIES, HEATH VILLAGE AND THE HOUSE OF THE HOLY COMFORTER. HEATH ALLIANCE CONTINUES TO OVERSEE THE FUTURE DEVELOPMENT OF A COTTAGE COMMUNITY THAT WILL BE LOCATED ADJACENT TO THE SKILLED NURSING FACILITY ON THE HEATH VILLAGE CAMPUS.