Littleton Hospital Association

“The Form 990 is prepared with the assistance of an independent CPA firm, who coordinates with the Organization's finance personnel and officers to ensure the tax return is complete and accurate prior to its finalization. A complete copy of the Form 990 is circulated among the entire Board prior to the tax return's filing with the IRS.”

“The Hospital's Board of Trustees has adopted a policy for identifying conflicts of interest, in compliance with applicable law. Through this policy, the Board commits to conduct itself at all times in an ethical manner. The Board will identify all "pecuniary benefit transactions and comply with the requirements of New Hampshire RSA 7:19-a, as it may be amended from time to time, and any successor statute. No Trustee who also is an employee of the Association may participate in Board determinations regarding his or her compensation, and no Trustee who also is a physician employed by the Association may vote with respect to the establishment of compensation and/or benefits to be paid to the Association's employed physicians generally. To monitor and enforce this policy, all Trustees and Auxilians complete a Conflict-of-Interest Statement each year, and any potential conflicts are reported to the Board of Trustees and to other authoritative bodies as required by law. In addition, employees who don't normally make decisions for the facility are expected to report forward any conflicts they may have, should they ever be in a position to influence decision making.”

“The Board of Trustees will select, oversee and annually evaluate the Hospital's President/CEO, who will be a full-time salaried employee of the Hospital. Accordingly, compensation and benefits paid to the Hospital's President and CEO is subject to the review and approval of the Board of Trustees. The Board utilizes its Executive Committee and other resources, such as surveys, market research, and data from comparable organizations, to determine a compensation and benefits package that is reasonable and appropriate for the level of services and skills provided and employed by the President and CEO. Similarly, the Hospital's HR Director prepares compensation reports and packages using similar datapoints for other key employees and officers who are not the President and CEO. The President specifically reviews and approves the compensation and benefits of the CFO. Trustees will serve solely for the purpose of furthering the Hospital's charitable purposes and without compensation, except that reasonable expenses may be reimbursed as approved by the Board. However, Trustees may be employed by the Hospital, and in turn be compensated for their non-Trustee services as the Board may authorize.”

“The Hospital's governing documents and financial statements are made available upon request.”

“Littleton Hospital Association may occasionally partner or collaborate with for-profit businesses or care practices to improve the Hospital's ability to provide services and care to its patients and the broader community. For example, certain private facilities, physician practices, or dental and eye care centers may also operate on the Hospital's campus or lease real estate from the Hospital where it has excess capacity. In the nature of transparency, the Hospital has deemed such arrangements as "joint ventures, and has therefore answered "Yes" on this Form 990, Part VI, Section A, Line 16a. The Hospital does not have a separate, formal joint venture policy. However, all joint venture arrangements and similar business agreements are subject to the review, approval, and oversight of the Hospital's top management and operational officials. The Hospital also reviews all joint venture agreements or similar contracts to ensure the arrangements are in compliance with applicable law, and the Hospital reviews any joint venture or similar activities closely and regularly. Accordingly, while there is no separate joint venture policy, any business arrangements that are similar in nature to a joint venture are thoroughly monitored and regularly reviewed to ensure that such activities are compliant with requisite laws and regulations, and that any such activities also contribute meaningfully to the Hospital's ability to fulfill its charitable purpose.”

“Change in value of interest rate swap -141,235.”

“For its year ending September 2024, the Hospital engaged Baker Newman Noyes, an independent public accounting firm, to perform an audit of its financial statements. The audit of the Hospital's financial statements was subject to the oversight of chief management employees, the Hospital's finance committee, and the Chief Financial Officer. The Hospital's Chief Financial Officer and other applicable staff and board members met with the auditors prior to the start, during, and at the end of the audit to review results and to coordinate timely and accurate testing of the Hospital's financial statements. These same review and oversight procedures are consistent with previous years.”