Exeter Health Resources Inc

“The Form 990 is prepared by an outside tax accountant with information provided by the organization. The Form 990 is reviewed by the organization's Treasurer and then presented to the Board of Trustees before it is filed with the IRS.”

“The Board of Trustees has adopted a Conflict of Interest Policy that requires the disclosure of conflicts of interest either when the interest becomes a matter of possible action by the Board or during an annual disclosure process. Trustees, officers, and key employees, as well as all members of senior management, are part of the annual disclosure process, which is initiated by the issuance of a memorandum and accompanying questionnaire by the President and Chief Executive Officer (CEO). All disclosures are reviewed. Any trustee with a conflict of interest is required to abstain from voting and is not included in a quorum determination on the matter and any officer, key employee, or member of senior management with a conflict does not take part in making and is not present for any decision regarding the matter. The policy is monitored and enforced by both the President and CEO and the full Board. A separate organizational policy requires all employees to disclose any conflict of interest in writing upon hire. Thereafter, on an annual basis, staff within Human Resources will survey all employees and contracted staff serving in a managerial role as well as all members of any committees that make recommendations or decisions regarding the purchase of goods or services by Exeter Health Resources, Inc. as a means to ensure that any conflict of interest, conflict of commitment and/or personal interest is disclosed and appropriately managed. Employees otherwise are required to make any further written disclosure at the time a conflict arises. This policy is monitored and enforced by the Vice President of Human Resources and the Vice President of Corporate Integrity and Compliance. Any identified conflict of interest is managed by disclosure, recusal, or divestiture of the interest.”

“The organization has a formal process for determining total compensation for the CEO and other listed officers that is intended to provide reasonable compensation for achieving the organization's mission to recognize individual and team performance, and to comply with the organization's obligations as a tax-exempt charitable organization. The Executive Committee of the organization's Board of Trustees conducts an annual review of the compensation of the CEO and other listed officers. In doing so, the Committee retains a qualified independent compensation consultant to conduct competitive market analysis of the market ranges of base, incentive and total cash compensation, and to provide advice concerning the reasonableness of the compensation of the CEO and other listed officers. The Committee utilizes that analysis and other appropriate information in connection with its annual review and makes recommendations to the full Board for adjustment of the CEO's compensation and the compensation for other listed officers. Information which the Committee may consider can include but is not limited to the performance of an individual and/or that individual's contributions to a team, the performance of the organization in whole and in part, the elements of total compensation and salary history, the organization's compensation targets and comparability data, including the data prepared by the independent consultant and reviewed with the Committee. The Committee incorporates a performance appraisal process in the CEO's and the listed officers' compensation review. The CEO and other listed officers are not present when the Committee discusses their respective compensation. In addition, the Committee determines if the threshold requirements for incentive awards are met, consisting of the organization's performance results for quality, operating system excellence and financial performance. The results of the Committee's deliberations are presented to the Board and include recommendations concerning salary range adjustments and incentive awards and the basis for the Committee's decisions/ recommendations. The deliberations of the Board are conducted in executive session with the independent members of the Board but do include the CEO only for that period of time in which the Board has questions concerning the performance of any listed officer other than the CEO. The Board reviews the CEO's performance and determines if the adjustments and awards recommended by the Committee for the CEO are in the organization's best interest and for its benefit. For the other listed officer positions, adjustments and incentive awards are approved upon recommendation of the CEO by the Executive Committee within Board approved parameters and ratified by the Board of Trustees.”

“These documents are available upon request.”

“During the year Exeter Health Resources, Inc. acquired a minority interest in Granite Healthcare Network, LLC.”

“Although written policies were not in place as of the end of the year covered by this tax return requiring the organization to evaluate its participation in joint venture arrangements under applicable federal law to ensure that the organization's exempt status is protected, the organization performed due diligence with respect to its joint venture arrangements to safeguard the organization's exempt status.”

“Equity in Earnings of Subsidiaries 15,442,591. Pension Liability Adjustment 4,859,261. Increase in Beneficial Interest 29,234. Net Assets Released from Restriction -129,193. Self-Insurance Trust Equity Adjustments 1,491,322.”

“The organization is part of the consolidated operations of Exeter Health Resources, Inc. The Exeter Health Resources, Inc. Executive Committee is responsible for the oversight of the audit and the selection of an independent accountant. The audit process has not changed since the prior year.”