Sturdy Memorial Hospital Inc

“Voting rights of governing body the bylaws of sturdy memorial hospital, inc. State that "the executive committee shall have the power to transact all regular business of the hospital during the interim between the meetings of the board of managers except for such matters as are specified in section 55 of the [massachusetts] general laws, chapter 156b." the executive committee consists only of members of the board of managers of sturdy memorial hospital.”

“Business relationships with governing body certain persons listed in part vii have a "business relationship" with one another due to the overlapping board structure of sturdy health foundation and its affiliates.”

“Members or stockholders sturdy health foundation, inc., a massachusetts charitable corporation, acting through its board of directors, is the sole member of sturdy memorial hospital, inc.”

“Members or stockholders who may elect members of governing body the board of managers of sturdy memorial hospital, inc. Consists of those persons who serve as the directors of sturdy health foundation, inc. Foundation members are eligible to attend all meetings of the corporation and to hold office. New members are elected to membership by the existing members for three year terms.”

“Form 990 review process form 990 is prepared by sturdy memorial's tax providers, grant thornton, using information provided by management upon completion of the annual independent audit. The information provided is the responsibility of the cfo and sturdy's fiscal services department. The return is reviewed by grant thornton, the controller and cfo, and compensation and benefit sections are specifically reviewed by the chief human resources officer for sturdy memorial hospital, inc. Form 990 is then presented to the audit committee for review and recommendation of approval. Every board member receives form 990 and all schedules prior to filing the return with the internal revenue service.”

“Conflict of interest policy monitoring & enforcement all hospital leadership and board members complete and sign an annual conflict of interest disclosure statement. The statement requires disclosure of any outside interests in any business, outside activity, gifts, or entertainment that may have influenced the respondent. In addition, these signed statements are reviewed by the integrity officer and any potential conflicts are addressed and resolved. The integrity officer discusses disclosed potential conflicts with employees, officers and directors of the hospital, so that they understand what constitutes an inappropriate business activity. Gifts that create a conflict of interest must be returned. Individuals with documented conflicts must abstain from any decision making specific to the identified area. An annual report is prepared and provided to the hospital's president and ceo as well as board of managers; this comprehensive report includes all integrity compliance issues as well as any newly identified conflicts of interest.”

“Process for determining compensation compensation decisions for the organization's ceo, cfo and senior management (key employees) are made through its executive committee. The executive committee consists solely of members who do not have a conflict of interest with regards to compensation matters. The board utilizes an independent outside consultant to determine executive compensation. The consultant presents national and regional comparability data for similar organizations. The data includes comprehensive salary and benefits information for the ceo, cfo and key employees including comparison of base pay, incentive pay, benefits and total compensation. The executive committee reviews the comparative data for the ceo and cfo and votes to approve their compensation. The ceo uses comparative market data to determine proposed base pay compensation increases and potential incentive pay for all other senior managers and presents this to the executive committee for their consideration. The executive committee reviews all relevant information and votes to accept the recommendations of the ceo for senior manager pay. All data presented, as well as compensation deliberations and votes, are documented in the executive committee minutes. The most recent compensation study was performed in september 2022. Form 990, part vi, section b, line 16b: participation in joint venture arrangements sturdy memorial hospital has a policy requiring evaluation of its participation in joint venture arrangements under applicable federal and state law. The hospital requires that any venture or arrangement with third parties not engage in any activities that would jeopardize the hospital's exemption, such as political activities, substantial lobbying, private inurement or substantial nonexempt activities. The hospital shall maintain control, prioritize its exempt purposes, enter contracts at arms-length, require transparent reporting, and ensure any venture comply with internal revenue code section 501(r). The hospital's management shall negotiate any ventures or arrangements with the assistance of legal counsel, if necessary, and the hospital's board of managers approves any venture or arrangement. The hospital currently participates in several ventures, all related to health care operations.”

“How documents are made available to the public the hospital makes available copies of its by-laws, conflict of interest policy, and financial statements to the general public upon request.”

“Employees reported on form w-3 sturdy memorial hospital, inc. Is the common paymaster for sturdy health, inc. And sturdy health foundation, inc. The total number of employees listed on part v, line 2a represents hospital employees included under the common paymaster filing.”

“Pension adjustment 14,387,300. Net assets released from restrictions 3,242,911.”