Mainehealth Services

“The organization has members who serve on a Board of Corporators.”

“The organization's Board of Corporators has the ability to elect trustees at an annual or a special meeting.”

“There are decisions by the governing body that require corporator approval. They include: 1. The amendment of the Articles of Incorporation of MaineHealth Services or MaineHealth resulting in major, fundamental changes in purposes or governance; 2. merger or consolidation of MaineHealth Services or MaineHealth with an entity that is not controlled by, or an affiliate of, MaineHealth Services as of the effective date; 3. sale or other disposition of all or substantially all the assets of MaineHealth Services or MaineHealth; or 4. dissolution of MaineHealth Services or MaineHealth.”

“The MaineHealth CFO reviewed the Form 990 in detail. The Form 990 was also made available to the full Board of Trustees prior to filing the return.”

“MaineHealth's Audit & Compliance Services sends Conflict of Interest (COI) disclosure form requests to over 3,000 Care Team Members (including all Board Members, Officers, and other Senior Leaders) each year. Audit & Compliance Services collects the disclosure forms and reviews each submission for possible reported conflicts to determine if a management mitigation plan is required. The results of the annual COI process are reported to the MaineHealth Executive Compliance Committee, the Audit Committee, Local Health System Presidents, and the Board of Trustees Chairpersons.”

“MaineHealth uses an outside firm, Sullivan Cotter, to perform an independent benchmark analysis for the CEO and other senior executive leaders. The firm meets with the Executive Committee of the Board of Directors to review the executive benchmark report. The Executive Committee then deliberates on MaineHealth's written salary and incentive plan philosophy before making a final decision. All meeting decisions are captured in minutes with appropriate approvals at all levels.”

“Documents that are required to be open for public inspection are made available upon request.”

“MaineHealth (EIN 01-0238552), acting on behalf of the MaineHealth System filed 1,391 Form 1099s for the calendar year 2023.”

“MaineHealth (EIN 01-0238552), acting on behalf of the MaineHealth System filed Form W-3, reporting 26,951 employees for the calendar year 2023.”

“MaineHealth has established an information systems project, known as the Shared electronic Health Record (SeHR), to implement a system-wide integrated electronic health record system and financial system. In 2014 and 2017, funding for a portion of the SeHR project was acquired by MaineHealth Services through the issuance of tax exempt revenue bonds through the Finance Authority of Maine in the amount of $94,800,000 and $55,500,000, respectively. Section 168 of the Internal Revenue Code requires that projects funded by tax-exempt sources of financing be depreciated using the alternative depreciation system (ADS). The ADS system requires that computer technology systems be depreciated over a period of 60 months. For Generally Accepted Accounting Principles (GAAP), MaineHealth is using between 60 and 144 month useful lives for the SeHR system, as management believes that these periods better reflect the useful life given the amount invested and the complexity of implementation. The fiscal year 2024 book to tax depreciation adjustment of $18,066,700 was recorded as a decrease to current year tax depreciation expense. Had the current year book to tax difference not been recorded, MaineHealth Services would have reported a net loss for FY 2024 of $1,987,204.”