Master Trust Agreement for Welfare Benef

“Form 990 & copy to members of its governing body a copy of the final return will be made available to the appropriate members of the governing body. Form 990 review the form 990 was prepared and reviewed by the partners healthcare system, inc. (phs) tax department.”

“For purposes of its annual tax filing, partners healthcare has an annual questionnaire process for obtaining information on interests that may give rise to conflicts from all officers, directors, trustees and key employees. In addition, in connection with partners' conflict of interest policy, the partners office of compliance and business integrity and office of general counsel work together to periodically distribute, collect and review disclosure statements from these individuals. The information on each such disclosure is reviewed by each individual's supervisor (who in the case of directors and trustees is deemed to consist of the chairman of the board, the entity's president/ceo, and the general counsel or attorney representatives of his office. In addition, under the partners conflict of interest policy, any time an officer, director, trustee, or key employee is aware of a transaction in which his/her interest may create a conflict, he/she is required to provide full disclosure of the interest, and may not be involved in the institutional decision-making about the transaction. In addition, with respect to such transactions, in appropriate circumstances, (i) the corporation must consider at least two alternative disinterested competitive proposals; or must determine that two such competitive proposals do not exist or that it would be impractical to elicit or consider such competitive proposals; and (ii) the corporation must determine that, notwithstanding the apparent conflict, the transaction is fair and reasonable to the corporation and is in the best interests of the corporation. A written record must be made of these determinations. Furthermore, transactions that present particularly significant conflicts are reviewed by an independent committee of the partners board for appropriate action, which review is also documented.”

“Upon request, the organization makes its governing documents, conflict of interest policy, and financial statements available to the public.”

“Other changes in net assets or fund balances relate to: employer contributions 2,658,399.”