Lrghealthcare

“William Bald is a shareholder and president of Melcher & Prescott Insurance, an insurance brokerage firm based out of Laconia, NH. William Bald also serves on the HGRL Board of Directors. While no business transactions existed in the fiscal year covered by this return, it is possible that other trustees of HGRL, its employees, or the Organization itself may conduct business with Melcher & Prescott Insurance from time to time.”

“Steve Miller, who served as the Organization's Interim CFO and Chief Restructuring Officer during the tax year, was a contract employee through QHR from October 1, 2019, through May 31, 2020; On June 1, 2020, Steve Miller became a temporary employee of the Hospital. As of May 1, 2021, the Organization transferred all hospital and healthcare assets to Concord Hospital, Inc., and ceased all other activity and operations other than wind-down procedures and final liquidating transfers. As of December 1, 2021, the Organization completed its final transfers of all remaining net assets to the HGRL Liquidating Trust. In accordance with IRS Instructions, Steve Miller was considered an Officer on the Board of HGRL through May 2021; Steve Miller was an employee of the Organization and oversaw managerial and operational duties typically reserved for top executives and key personnel. As Steve Miller was compensated in excess of $100,000 in the 2021 calendar year, he has been considered a "Former Officer" on this Form 990, and his 2021 calendar year compensation, as paid by HGRL as an employee of the Organization, has been disclosed in detail on Part VII and accompanying Schedule J. Steve Miller did not provide any services to HGRL during the period covered by this Form 990 (October 1, 2021, through September 30, 2022), nor did HGRL compensate or provide benefits Steve Miller after the Organization ceased operations in May 2021.”

“HGRL has 850 members who are also considered stakeholders who are eligible to vote.”

“The members, also known as stakeholders, may elect one or more board members of the governing body at the annual meeting.”

“The members, also known as stakeholders, approve bylaws and articles of incorporation changes. The Members shall support the mission of HGRL, provide information to the Board of Trustees to enable it to better fulfill the vision, serve as ambassadors in the community, and perform such other functions and activities as requested by the Chair. Members may participate in the consideration of any matter that properly comes before a meeting of the Members and shall be eligible to hold any position with HGRL to which he or she may be elected, appointed or hired. Members shall elect new Members of HGRL, ratify the election and re-election of Trustees, and vote to dissolve the Corporation.”

“A draft of the Form 990 is prepared with the assistance of an independent public accounting firm. The Wind Down Board, with the assistance of Craig Jalbert, a consultant, will oversee the process for reviewing and eventually filing the Form 990 once its preparation is complete.”

“A copy of HGRL's conflict of interest policy is distributed annually to all officers, trustees, medical staff officers and committee members, and the senior team. All are required to report any conflicts and sign, date, and return the policy, whether or not a conflict exists, to confirm compliance. Conflicts are disclosed in accordance with State of New Hampshire RSA 7 19-A in the local newspaper and submitted to the New Hampshire Attorney General.”

“As of May 2021, HGRL ceased all hospital and healthcare services as of May, 2021, including the maintenance of any employees or compensation arrangements. All activity after the May 2021 transaction consisted of wind-down transactions and bankruptcy proceedings. Prior to the cessation of hospital services, HGRL adhered to the following compensation policy: The CEO's compensation and benefits are reviewed, adjusted, and voted upon by the full board annually. The board of trustees uses comparative data provided by a consultant who surveys compensation for healthcare executives in the New Hampshire and broader New England area. Survey data from the New Hampshire Hospital Association (NHHA) and the American Society for Healthcare Human Resources (ASHHRA) is also used to validate that the salary, benefits, and pay range for the CEO is fair, reasonable, and competitive. The CEO is excused from discussions surrounding CEO compensation during any meeting. The CEO uses data provided from human resource consultants, NHHA and ASHHRA surveys to evaluate salaries and approve market adjustments for employees at the Vice President level and below. Physician salary ranges are established annually using the Medical Group Management Association (MGMA) salary survey data. These reviews are also conducted annually.”

“HGRL (f/k/a LRGHealthcare) files audited financial statements annually with the New Hampshire Attorney General's Charitable Trust Unit. Current copies of the bylaws, conflict of interest policy, and Form 990 are on file with the Charitable Trust Unit. Copies of the Organization's governing documents, conflict of interest policy, and financial statements are also available to the public upon request.”

“On this 2021 Form 990 for the period ending September 30, 2022, the Organization is reporting numbers for Forms 1099 and W-2 issued on this Part V (96 and 1,280, respectively), as well as compensation and benefits paid to former employees and independent contractors on this Part VII. In May 2021, during the previous tax year, the Organization transferred all healthcare-related and operating assets to Concord Hospital, Inc. as part of the Organization's wind-down and liquidation procedures; as of May 2021, the Organization ceased to have any activity of its own, ceased to pay any contractors or professional fees, and ceased to maintain any employees or to make any compensation or benefit payments. Additionally, as of December 2021, the Organization transferred all remaining net assets to the HGRL Liquidating Trust, at which point the Organization ceased to hold any assets or liabilities, and its remaining net assets were effectively adjusted to zero. The Organization did not incur any operating activity during the period between May 2021 and December 2021. In accordance with IRS Instructions, all reported payroll and compensation filings and figures on this Form 990 are based on the Forms W-2 and/or 1099 filed for the calendar year ending within this tax year. Therefore, for this Form 990 covering the period ending September 30, 2022, the reported number of filed Forms 1099 and W-2 on this Part V and the compensation reported on Part VII is based on filings submitted and compensation paid during the 2021 calendar year, which would include the period from January 2021 through the cessation of all operations and activity in May 2021, but would not include the tax period covered by this Form 990 (October 1, 2021 through September 30, 2022). It is for this reason that payroll filings and compensation is reported on this Form 990, within Parts V and VII, but no contractor or employee expenses are included on this Form 990, Part IX. Lastly, the Organization did not file any Forms 1099 or W-2 for the 2022 calendar year.”

“During a previous tax year, the Organization ceased all healthcare services and ceased to operate as a licensed Hospital. During the year covered by this tax return, the Organization has made final transfers of all remaining net assets into the HGRL Liquidating Trust, per a previously agreed upon liquidating agreement and in accordance with U.S. and New Hampshire Bankruptcy Courts and IRS Guidelines. Accordingly, as of the end of this tax year, HGRL has ceased to hold any assets, has transferred out all remaining net liabilities, has wound-down all operations, and remaining net assets have been reduced to zero. It is the intention of HGRL to file articles of dissolution and to terminate its status as a legal entity within the coming years.”

“Net assets and liabilities transferred to HGRL Liquidating Trust 123,081,384.”

“This document is signed by Cynthia Baron in her capacity as the Chair of Wind Down Committee and as a Liquidating Trustee of the HGRL Liquidating Trust. The Liquidating Trustee's appointment became effective on December 27, 2021, prior to which she was not employed by or responsible for the Debtor and was in no way involved with the maintenance of the Debtor's books and records. This return and/or form, and the information contained herein, is based entirely upon information contained in the Debtor's books and records, which have been provided to the Liquidating Trustee and her professionals. All efforts have been made to comply with relevant reporting requirements, based upon the information that has been made available.”