Mainhealth Services

“Katherine Coster and Jere Michelson are board members of MaineHealth Services and Gorham Savings Bank. Gregory Dufour and Marie McCarthy are board members of MaineHealth and Camden National Bank.”

“On April 8, 2021, the MaineHealth Services Articles of Incorporation were amended to increase the minimum number of directors to eighteen (18) and the maximum number of directors to thirty-one (31).”

“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 Form 990 was presented to the Executive Committee of the Board of Trustees. The Chief Financial Officer reviewed the 990 prior to signing the return. The Form 990 was provided to the full Board of Trustees prior to filing the return.”

“Conflict of Interest statements are obtained annually. The organization reviews the responses to these documents and addresses any issues immediately.”

“Compensation Process for Top Official: The process followed for determining compensation of the CEO compensated by this or other related organization is a formal process performed annually by the Executive Committee of the Board of Directors. A related organization uses an outside firm, Sullivan Cotter, to perform an independent benchmark analysis for the CEO of MaineHealth Services along with other executives in the MaineHealth Services system. The firm meets with the Executive Committee to review each executive's benchmark report. The Committee then deliberates on MaineHealth Services' written salary and incentive plan philosophy before making a final decision. All decisions and meetings are captured in minutes and there are appropriate approvals at all levels. Compensation process for officers is at a local level.”

“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 1,431 Form 1099s for the calendar year 2020.”

“MaineHealth (EIN 01-0238552), acting on behalf of the MaineHealth System filed Form W-3, reporting 23,020 employees for the calendar year 2020.”

“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 2021 book to tax depreciation adjustment of $25,640 was recorded as a decrease to current year depreciation expense.”