Community Health Network of Connecticut Inc

“The organization has a single class of members. The sole member in that class is community health network of connecticut holdings, inc., a connecticut nonstock corporation organized and operated exclusively for charitable purposes within the meaning of internal revenue code section 501(c)(3).”

“The organization's member has the power to elect the members of the organization's governing body. More specifically, community health network of connecticut holdings, inc., the organization's sole member, has the power to elect and remove, with or without cause, the directors of the organization.”

“Certain governance decisions of the organization are reserved to the member. More specifically, community health network of connecticut holdings, inc., the organization's sole member, has the exclusive power to amend the bylaws of the organization. In addition, in accordance with such bylaws, the organization's sole member has approval right with respect to the organization's ability to (i) adopt or modify the organization's mission statement, (ii) adopt or modify the organization's budgets, (iii) approve significant borrowings, (iv) hire the organization's president, (v) approve significant changes in the organization's activities, (vi) acquire or dispose of significant assets, (vii) file for bankruptcy, and (viii) amend the certificate of incorporation.”

“Once prepared by our third party accountants, the 990 form is reviewed by chnct's vice president of finance, chief financial officer, chief executive officer, senior vice president of compliance, and vice president of human resources. After this review process is completed, the 990 form is distributed to each member of the chnct board of directors, and each member of the chnct holdings board of directors (chnct holdings is the sole member of chnct) prior to the filing of the document with the irs.”

“All chnct officers, directors and key employees are required to disclose annual interests that could give rise to conflicts to the compliance officer.”

“Since 2016, the organization has been working with sullivan cotter, the leading independent consulting firm in the assessment and development of performance-based total rewards programs. In december 2021, the organization, through its personnel and compensation committee, retained sullivan cotter to conduct a competitive assessment of the base pay and total cash compensation programs for the organization's executive, management and non-management employee level positions. Sullivan cotter conducted a market study and comparison of base compensation, bonus pay, benefits, and total cash compensation for the ceo and most of the officers/vp's (nine positions in all). They also utilized the warren and acap surveys, but supplemented that data with other sources which included but is not limited to: - mercer consulting suite of health care system and hospital compensation survey, health insurance plan and benchmark database survey suite. - willis towers watson health care middle management, professional and support survey report, general industry middle management, professional and support compensation survey. - eri economic research institute, inc. Sullivan cotter compared the organization's positions as follows: - the comparator market used was comprised of an equally weighted blend of health plans, not-for-profit and the general healthcare industry markets. - the comparator's median review approximates the organization's revenue size. - the organization provided information of current salaries, incentives (as applicable) and benefits for the basis of the assessment of the competitiveness of the compensation . - data was aged to 2023 at an annualized rate consistent with projected healthcare industry average salary increase. - salary ranges were adjusted in keeping with the market data. Sullivan cotter's recommended adjusted salary ranges were reviewed and approved by the board's compensation and personnel committee and adopted by the organization. Incumbent salaries were compared to an equally weighted survey median salary. A range of salary increases based upon incumbents' compa-ratio was implemented subject to the limitations of the organization's overall administrative expense budget.”

“Upon request, these documents would be made available on the premises of the company's corporate location for review by the public.”