Children'S Hospital Corporation

“The organization's bylaws were updated to expand the size of the board and add term limits.”

“Children's Medical Center Corporation is the sole member of the Children's Hospital Corporation.”

“Children's Medical Center Corporation is the sole member of the Children's Hospital Corporation. The Children's Medical Center Corporation elects the governing body of Children's Hospital Corporation because the Board of Directors of Children's Hospital Corporation must consist of the persons who serve from time to time as the directors of The Children's Medical Center Corporation.”

“Children's Medical Center Corporation is the sole member of the Children's Hospital Corporation ("the Hospital"). As stated in the Hospital's By Laws, Children's Medical Center Corporation has the powers and rights: - to approve proposed operating and capital budgets of the Hospital; - to approve the sale of all or substantially all of the Hospital's assets or the Hospital; - to approve the establishment of all long-range plans, goals and objectives of the Hospital; - to approve any incurrence of long-term indebtedness by the Hospital; - to approve the appointment or removal of the Chief Executive Officer of the Hospital; - to approve mergers, consolidations, and other forms of corporate affiliations with third parties.”

“The Form 990 tax return was prepared by the organization's staff and reviewed by management (including the President & Chief Executive Officer, Chief Financial Officer, General Counsel and other relevant departments of the organization), along with the outside accounting firm of Ernst & Young. The Form 990 tax return was then presented to the Children's Medical Center and affiliates' Audit & Compliance Committee. Also, a copy was made available to the Board before filing.”

“The Hospital's Conflict of Interest and Commitment policy applies to all directors, Trust Board members, members of the medical or research staff, faculty, fellow, resident, student, visiting faculty or scientist, consultant, volunteers and employees of the Hospital. Directors, chiefs of service and division chiefs, senior directors and others who exercise influence over important strategic, business and purchasing decisions of the Hospital are required to complete an annual conflict of interest disclosure questionnaire about their financial interests and outside activities. If an expected questionnaire is not returned, the Compliance Officer notifies the individual's supervisor or the CEO or COO, and repeated requests for the completed questionnaire are made until the questionnaire is completed. Responses are reviewed by the Compliance Officer and any potential conflicts are discussed with the Office of General Counsel and/or the individual's supervisor; any actual or potential conflicts are managed by termination of the conflict, management of the conflict, recusal, disclosure, review, or a combination thereof. Outside interests and outside activities may be permitted as long as the Hospital, Medical Center or Trust determines that such interests and activities are consistent with the policies of the Hospital, Medical Center or Trust and the Hospital, Medical Center or Trust Board member, medical staff member or employee involved does the following: 1. discloses the fact that he/she has a financial interest or a consultative role in or with a person or company with which the Hospital, Medical Center or Trust is doing or is thinking of doing business; and 2. refrains from voting or exercising any personal influence whatsoever in the selection of a person or company to do business with the Hospital, Medical Center or Trust with whom or in which he/she has a financial interest or a consultative role; and 3. avoids any active participation in any financial negotiations between the Hospital, Medical Center or Trust and the person or company with whom or in which he/she has a financial interest or consultative role; and 4. does not permit such outside interests or activities to absorb such amounts of his/her time and effort as to make it impractical for them to fulfill their assigned responsibilities at the Hospital, Medical Center or Trust; and 5. does not permit such outside interests or activities to compromise or appear to compromise the name or reputation of the Hospital, Medical Center or Trust.”

“The Hospital has a board level compensation committee that annually reviews and approves the compensation for the following individuals: President & Chief Executive Officer Chief Investment Officer Executive Vice President, Enterprise Services, System Chief Financial Officer Executive Vice President, Health Affairs Executive Vice President, Chief of Staff Executive Vice President, Chief Scientific Officer Executive Vice President, Hospital COO, Satellite & Ambulatory Operations Executive Vice President, Patient Care Operations, System Chief Nursing Officer Executive Vice President & President, Boston Children's Hospital Trust, Chief Development Officer Executive Vice President, Chief Human Resources Officer Senior Vice President, Chief Information Officer Senior Vice President, Real Estate Planning & Development Senior Vice President, Finance Senior Vice President, Research Administration Executive Vice President, System General Counsel The committee is comprised of members of the board who are not employed by the organization, and no member may participate in the review and approval of compensation if the member has a conflict of interest with respect to that compensation arrangement. The committee relies on data, provided by an independent compensation consultant, which includes comparable compensation for similarly qualified persons, in functionally comparable positions, at similarly situated organizations. The deliberations and decisions of the committee are documented in minutes of the meeting.”

“The Hospital posts its Code of Conduct (which incorporates the Conflict of Interest Policy) and its Compliance Manual (which includes a summary of the Conflict of Interest Policy) on its external website and these are also available from the Compliance Office or the Office of General Counsel. Governing documents are not posted publicly but are available from the Hospital upon request and are also filed with the Massachusetts Secretary of State, where they are available to the public. Audited financial statements are filed annually with the Massachusetts Office of the Attorney General as part of the Hospital's Form PC filing and are available from the organization upon request. Quarterly financial statements are filed with the Hospital's bond trustee and are available to the public through the Electronic Municipal Market Access (EMMA) website maintained by the Municipal Securities Rulemaking Board.”

“Founded in 1869, Boston Children's is one of the largest pediatric hospitals in the U.S. and the only freestanding pediatric hospital in Massachusetts, with its main campus located in the Longwood Medical Area. Boston Children's provides access to safe, high quality health care services that meet the unique needs of our patients and their families, regardless of their ability to pay. Boston Children's has been and will continue to be the world leader in compassionate, equitable, family-centered care and science. Our vision and goal are to lead change in the care and well-being of children through cutting edge research, state of the art innovative clinical care and diagnostics and the development of new drugs, therapeutics and devices to treat and cure what is not currently treatable, and to solve the problems of tomorrow. Boston Children's serves a unique role in the pediatric landscape and adds value across our four mission pillars. -CARING for children we are uniquely able to serve, delivering superior outcomes in pediatrics relative to national peers, and caring for an increasingly complex pediatric population. -RESEARCH to develop new treatments and improve child health, running the world's largest pediatric research enterprise and leveraging our research to directly impact patient care. -TEACHING the next generation of leading pediatric care providers, serving as Harvard Medical School's primary pediatric teaching hospital, and filling a critical role in training sub-specialists. -Serving the COMMUNITY as a care provider, collaborator, investor, and economic contributor; offering the only large PICU and 24/7 pediatric intensivist care in New England, serving as a safety net hospital for Massachusetts Medicaid; keeping care local and lower cost by decreasing our inpatient admissions from local/regional areas and providing back-up support to other hospitals; investing in community education and support (collaborate with schools); attracting jobs and funding to the Boston and Massachusetts economies. In 2024, U.S. News & World Report ranked Boston Children's among the best in the nation, based on a wide range of factors, including reputation among pediatric specialists, medical outcomes, and care-related indicators of quality, such as nurse staffing and the availability of specialized services. This marks more than 20 years that we have earned our Top 10 spot on that esteemed list. This is also the first year that U.S. News has included Pediatric & Adolescent Behavioral Heath as a specialty, and Boston Children's is among the nation's best. In 2024, Boston Children's was also named the #1 pediatric hospital in the world by Newsweek on their list of the "World's Best Specialized Hospitals." In 2008, 2012, 2017, and 2022, Boston Children's achieved Magnet Recognition from the American Nurses Credentialing Center. For the eighth year in a row, Boston Children's was selected as a Leader in LGBTQ Healthcare Equality by Healthcare Equality Index (HEI).”

“Ambulance Services: Program service expenses 59,914. Management and general expenses 319. Fundraising expenses 0. Total expenses 60,233. Catering Services: Program service expenses 1,088,447. Management and general expenses 1,323,681. Fundraising expenses 32,643. Total expenses 2,444,771. Collection Agency Fees: Program service expenses 192,282. Management and general expenses 1,866,885. Fundraising expenses 0. Total expenses 2,059,167. Consulting Services: Program service expenses 6,880,228. Management and general expenses 7,885,610. Fundraising expenses 202,164. Total expenses 14,968,002. Employment Agency Services: Program service expenses 2,147,131. Management and general expenses 1,634,089. Fundraising expenses 144,297. Total expenses 3,925,517. Environmental Services: Program service expenses 492,373. Management and general expenses 1,498,209. Fundraising expenses 0. Total expenses 1,990,582. Laundry Services: Program service expenses 214,719. Management and general expenses 101,419. Fundraising expenses 0. Total expenses 316,138. Misc. Purchased Services: Program service expenses 104,202,990. Management and general expenses 65,636,778. Fundraising expenses 785,505. Total expenses 170,625,273. Nursing Agency Fees: Program service expenses 29,115,727. Management and general expenses -10,549. Fundraising expenses 0. Total expenses 29,105,178. Purchased Medical Services: Program service expenses 143,545,807. Management and general expenses 30,091,316. Fundraising expenses 0. Total expenses 173,637,123. Purchased Research Services: Program service expenses 82,521,139. Management and general expenses -291,871. Fundraising expenses 0. Total expenses 82,229,268. Security Services: Program service expenses 23,037,597. Management and general expenses 3,442,215. Fundraising expenses 0. Total expenses 26,479,812. Temp Agency Fees: Program service expenses 19,909,825. Management and general expenses 1,365,920. Fundraising expenses 75,038. Total expenses 21,350,783.”

“Net transfers/support from Children's Medical Center 85,515,057. Pension adjustment 32,982,410. Net assets released from restrictions -4,645,914. Extinguishment of debt -2,115,291. Net transfers 9,373,949.”