MID Coast Hospital

“Mid Coast-Parkview Health (MCPH) shall be the Organization's sole member with all rights and responsibilities of membership, including all voting rights.”

“At each annual meeting of the sole member, the sole member shall elect directors to hold office until the election and qualification of their respective successors. The directors shall be persons who have demonstrated an interest in the Organization's goals and objectives and, to the extent reasonably feasible, shall represent the Mid-Coast area. To the extent feasible, all directors serving on the Organization's board of directors shall be persons who also serve on the board of directors of MCPH.”

“The business and affairs of the Organization shall be conducted and managed by its board of directors which shall exercise all of the powers of the Organization. The board of directors shall approve an annual operating budget, develop a long-term capital expenditure plan and, through its own committees or the committees of its sole member, monitor the implementation of the plan. Notwithstanding the foregoing, the directors shall not submit any application for a certificate of need to the Maine Department of Health and Human Services, or incur any long-term debt without the approval of MCPH as the sole member. The board of directors may delegate such powers as it sees fit to committees and officers of the Organization.”

“The Form 990 is prepared by an independent public accounting firm with the assistance of information provided by key financial staff. An initial draft is reviewed in detail by key financial staff. Once any changes are incorporated, a draft copy is presented to the Board and copies are provided upon request.”

“The Hospital has a compliance committee that meets on a quarterly basis to review any compliance issues that may arise.”

“An independent consultant prepares a market analysis at the regional level for all officers and key employees of the Organization.”

“The Organization makes its governing documents, conflict of interest policy and audited financial statements available to the public upon request.”

“Dr. Patrick Keaney receives compensation for his services to the Organization in his capacity as a physician. The salary and benefit amounts disclosed in Part VII do not reflect payments made to him for his services as a member of the board of directors.”

“Physician Fees: Program service expenses 6,419,180. Management and general expenses 0. Fundraising expenses 0. Total expenses 6,419,180. Purchased Staffing: Program service expenses 1,383,045. Management and general expenses 378,378. Fundraising expenses 0. Total expenses 1,761,423. Intercompany Management: Program service expenses 0. Management and general expenses 3,302,718. Fundraising expenses 0. Total expenses 3,302,718. Consulting: Program service expenses 207,536. Management and general expenses 56,779. Fundraising expenses 0. Total expenses 264,315. Purchased Medical Services: Program service expenses 7,791,407. Management and general expenses 565,146. Fundraising expenses 0. Total expenses 8,356,553.”

“The audit process has not changed from the prior year.”