The Hitchcock Foundation

“Although paid by a related organization, the compensation for the executive director is evaluated by an independent third-party firm for reasonableness and national data benchmarking. The talent development and compensation committee, along with independent trustees, approve the final compensation in consideration with the independent third-party firm's recommendations and suggestions. This process was contemporaneously documented and last undertaken in fiscal year 2022.”

“The hitchcock foundation uses the staff of a related organization. Compensation for the officer is evaluated by internal hr staff using national benchmarking data, along with ongoing evaluations by an independent third-party firm for reasonableness, with the last formal process in fiscal year 2022. External benchmarking from an independent third party has been used for any officer who was hired or received a compensation adjustment since the last formal process. Compensation rates are determined by following the guidelines of the compensation committee charter and philosophy documents and a formal review by compensation committee members.”

“As described in the organization's by-laws, the Hitchcock Foundation has an Executive Committee consisting of the officers of the Board of Trustees, the chairperson of the Scientific Review Committee and such other members as the Board may designate. A majority of the Executive Committee shall constitute a quorum for the transaction of business and the act of a majority of those present at a meeting at which a quorum is present shall be the act of the Committee. Vacancies on the Executive Committee shall be filled by the Chairperson. The Executive Committee shall have the power to transact all regular business of the Foundation during the interim between meetings of the Board of Trustees, provided that any action taken shall not conflict with the expressed policies and wishes of the Board of Trustees and further provided that it shall inform the Board of Trustees of its actions.”

“Dartmouth-hitchcock clinic (dhc) is the sole corporate member of the hitchcock foundation.”

“Dhc retains limited powers in accordance with the bylaws including, but not limited to, electing trustees of the board and approving changes within the bylaws.”

“Dhc retains limited powers in accordance with the bylaws including, but not limited to, electing trustees of the board and approving changes within the bylaws.”

“The form 990 is reviewed by external tax advisors and the executive director before the filing of the return. Once the return has been fully prepared, a final 990 is sent to each board member and time is allocated for comments and responses prior to the official filing of the forms.”

“The hitchcock foundation board of trustees approved a policy concerning a voluntary self-disclosure of any potential conflict of interest. The dartmouth-hitchcock compliance and audit services department conducts an annual survey of all officers and trustees and performs other procedures as considered necessary to report on compliance with the conflict of interest policy. The department then reports to each board any potential conflicts for their review. Per the policy, any conflicts or otherwise perceived conflicts are required to be addressed by the board of trusteees on an ongoing basis. In the event a conflict arises, the individual may be removed from participating in any decision-making regarding the identified conflict and/or its corresponding transactions. If the board or committee has reasonable cause to believe that an interested person has failed to disclose actual or possible conflicts of interest, it shall inform such person on the basis for such belief and afford him/her an opportunity to explain the alleged failure to disclose. If, after hearing the response of the interested person and making such further investigation as may be warranted in the circumstances, the board or committee determines that such person has in fact failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action.”

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

“Research and management expenses - Total Expense: 1533144, Program Service Expense: 1532055, Management and General Expenses: 1089, Fundraising Expenses: 0;”

“Net Asset Transfers - -387916;”

“The organization does not delegate any oversight of the audit to a subcommittee. The full board reviews and approves all information and financial statements. The organization is included in the audit and financial statements of its parent organization, dartmouth-hitchcock clinic.”

“The organization was included in the consolidated audited financial statements of the dartmouth-hitchcock health system for fiscal year 2022. During fiscal year 2022, mary hitchcock memorial hospital expended funds from federal awards in excess of the $750,000 threshold set forth in the 0mb uniform guidance, therefore requiring an audit. Due to the issuance of the consolidated financial statements, the single audit was performed on the combined financial information of all organizations, including the hitchcock foundation.”