Frisbie Memorial Hospital

“Trustees Ronald Poulin and Jeanette Poulin have a family relationship.”

“Steve Guimond served as interim CFO of the Hospital from August 2016 to March 2017 when a permanent CFO was hired. Mr. Guimond was a contracted professional who was leased through a managmenet company, Leaders for Today, an unrelated organization. The Hospital paid $295,032 to Leaders for Today for Mr. Guimond's services to the organization.”

“The Form 990 is prepared with the assistance of the Hospital's independent public accounting firm and is thoroughly reviewed by key financial staff. The CFO then reviews the 990 and brings it to the board for discussion and comment. After any questions are answered, the return is filed with the Internal Revenue Service.”

“In accordance with the written conflict of interest policy, the office of the President annually secures a signed copy of the Trustee/Officer Conflict of Interest Statement and maintains them on file.”

“Each year, the executive compensation committee comprised of four members of the FMH Board reviews the Hospital CEO performance and compensation. The VP of Human Resources presents the compensation committee with comparative salary and benefit data. Senior management compensation is also reviewed by the committee, but their compensation is determined by the CEO.”

“The Hospital will provide its governing documents, financial statements, and conflict of interest policy upon.”

“Nick Samilo, was the organization's CFO through August 24, 2016. At the conclusion of his tenure, Steve Guimond served as interim-CFO on a subcontract basis until March of 2017 when Robert Cochrane was hired as Vice President of Finance & CFO. IRS instructions indicate that Part VII of Form 990 and Part II of Schedule J should report compensation information based on the calendar year falling within the reportable fiscal year. Accordingly, these sections have been prepared utilizing 2016 compensation information. As Mr. Samilo received compensation and benefits from the Hospital during 2016 as an officer, he is required to have his 2016 compensation disclosed. As his tenure with the organization terminated before the fiscal year covered by this return, he is being listed as a former officer of the organization. Similarly, as Mr. Cochrane did not begin his tenure with the organization until 2017, no compensation is being reported for him in Form 990, Part VII, or Schedule J, Part II. The Hospital's 2017 Form 990 will be the first year to report any compensation for Mr. Cochrane.”

“The Hospital does not have a formal joint venture policy in written format. However, any joint venture agreement the Hospital may consider is thoroughly vetted by the board or subcommittee to ensure that the joint venture significantly improves and furthers the Hospital's exempt charitable mission. On-going monitoring is also conducted to safeguard the Hospital's invested assets from private benefit or other misappropriation.”

“Purchased Services: Program service expenses 12,302,196. Management and general expenses 5,151,586. Fundraising expenses 26,685. Total expenses 17,480,467.”

“Equity Transfer to Affiliate -3,619,047.”

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