Valley Regional Hospital Inc

“Celeste Pitts serves as the Interim Chief Financial Officer and is compensated by Helms & Co., an independent management company engaged by the organization. Ms. Pitts performs certain financial and management functions under the supervision of the board of directors.”

“Effective 7/31/24 Dartmouth-Hitchcock Health (DHH) became the sole member of Valley Regional Health Care, who is the sole member of the organization. DHH now has the right to appoint up to one third of the Hospital Board, and has reserve powers that include approval of Board of Trustee (BOT) actions. The DHH CEO or designee is now a member of the BOT Executive committee. The CEO of the organization now reports to the BOT and the DHH CEO or designee.”

“The sole member of the Organization is Valley Regional Healthcare, Inc. Effective 7/31/2024 the sole member of Valley Regional Healthcare, Inc. is Dartmouth-Hitchcock Health.”

“The Organization's trustees are nominated and elected by the Organization's member at the annual meeting of the Corporation. Effective 7/31/2024, the Member's member, Dartmouth-Hitchcock Health, has the right to appoint up to one-third of the directors of the board.”

“The following actions and undertakings involving the business of the Organization are subject to the ratification by the member: adoption of operating budget; adoption of capital budgets; adoption of strategic plans; initiation of significant fund-raising activities; implementation of institutional affiliations, mergers, consolidations or other reorganizations; material modification of service and business offerings; material acquisitions or dispositions of assets; changes in certified public accountants, fiscal year or material accounting practices; incurrence of material indebtedness; material changes in insurance programs and arrangements; material changes in employee benefits plans; adoption of quality improvements plans; election of directors; selection of the president/CEO; amendment of the Organization's bylaws; and amendment of the articles of association. The member, acting solely at the direction, or upon approval of Dartmouth-Hitchcock Health will have the right to initiate the following actions: Removal of Trustees, hiring, evaluating, compensating and termination of the CEO, participation in system programs and initiatives and strategies, changes in clinical services, reallocation of Dartmouth-Hitchcock Health system resources and allocation of the corporations share of system expenses.”

“The Form 990 is reviewed by the CFO and a full copy is shared and reviewed with the CEO and the Finance Committee members. The Finance Committee members are given an opportunity for comment prior to filing. The review is conducted by the CFO.”

“The Risk & Compliance Office requires annual review of the conflict of interest policy. All Officers, Directors, Trustees, and Key Employees must sign an acknowledgment of the policy and disclose any interests that could give rise to conflicts. The signed forms are held in the following locations: Officers and Trustees - Executive Assistant office Directors and Key Employees - In the Elsevier Human Resources system Contracted Services - within or alongside any contract in the corresponding administration or materials area”

“The executive committee of the board of trustees convenes two to four times annually to review the compensation of the CEO. Regional compensation of like-sized organizations are used. The amount of compensation shall be reviewed by the D-H independent compensation consultant for purposes of determining compliance with the rebuttable presumption, if necessary. The CEO compensation is tied to the strategic planning goals of the Organization.”

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

“Physician Fees: Program service expenses 4,091,471. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,091,471. Purchased Services: Program service expenses 7,702,133. Management and general expenses 2,702,070. Fundraising expenses 0. Total expenses 10,404,203. Other Professional Fees: Program service expenses 0. Management and general expenses 591,006. Fundraising expenses 0. Total expenses 591,006.”

“Section 1.263(a)-3(n) Election: Valley Regional Hospital, Inc. 243 Elm Street Claremont, NH 03743 EIN: 02-0222118 Valley Regional Hospital, Inc. is electing to capitalize repair and maintenance costs under Regulation Section 1.263(a)-3(n).”

“Net Gain of Beneficial Interest In Perpetual Trust 1,102,496. Business Combination - Fair Value Adjustment -343,539.”

“The business combination was accounted for using the acquisition method of accounting. DHH has chosen to push-down the fair value adjustment of $2,901,000 related to the identifiable assets and liabilities, which consisted of land, buildings, and equipment of the Organization. The $343,539 represents the adjustment portion for Valley Regional Hospital, Inc.”