LMC Physician Services PC

“The organization is a professional service corporation ("pc") with one shareholder. Under applicable nys law, only a licensed physician may hold shares in the pc. Dr. Alan sickles, is the sole shareholder of the pc, and pursuant to a shareholder agreement among dr. Sickles, the pc and the medical center, the shareholder has very limited authority. In particular, the shareholder may not transfer or encumber the shares or declare distributions without the express consent of the medical center.”

“The sole shareholder has the authority to appoint the directors and officers of the pc.”

“Pursuant to the shareholder agreement, dr. Alan sickles has limited authority and all decisions are controlled by lutheran medical center.”

“The organization has answered this question "no" as there are no committees with authority to act on behalf of the governing body.”

“The form 990 is reviewed by the vice president of finance of the organization's parent organization, lutheran medical center. A copy of the form 990 is provided to the sole director, dr. Alan sickles, for his comment and review.”

“The organization operates under the conflict of interest policy of its parent organization, lutheran medical center. The president and sole director, dr. Alan sickles, is required to disclose potential conflicts of interest on two annual survey/questionnaires submitted to the medical center's general counsel. One of the questionnaires pertains to his role as a senior executive for lutheran medical center and the other, more comprehensive, questionnaire pertains to his role as president and sole director for lmc physician services, pc. The two submitted questionnaires are reviewed by the medical center's general counsel to ensure compliance with the conflict of interest policy.”

“Senior management at the parent organization, lutheran medical center, regularly reviews various objective data sources that factor into compensation for employed and contracted physicians and groups providing services to the organization. These sources include national and regional survey samples by physician clinical specialty, as published by sullivan cotter and as purchased from other consultants, which guide the establishment of fair market value for each physician's/group's compensation level in the organization. With respect to certain physicians who might be considered "luminaries" or whose compensation falls into an outlier category in the clinical specialty, lmc seeks advice and opinions from outside consultants who specialize in this work.”

“The taxpayer makes its form 990 and form 1023 available to the public by retaining a copy of each at its head offices. Any individual requesting a copy of these documents is provided that copy on the same business day. The organization's governing documents and conflict of interest policy are available to the public upon request. The organization does not obtain audited financial statements so these are not made available to the public. The sole physician-shareholder of lmc physician services, p.c. Receives her compensation through the organization's parent organization, lutheran medical center. The lutheran medical center board of trustees engages sullivan cotter & associates, inc. To provide annual reports and supporting data relative to executive compensation. The compensation committee, acting on behalf of the full lutheran board of trustees, receives and reviews these reports which contain: a) a market analysis of the total compensation levels of senior executives in relation to their peers in the marketplace; b) a review of current compensation and benefit plan designs to ensure competitiveness to the marketplace; and c) compliance with state and/or federal regulations. The compensation committee relies upon the data and recommendations provided by sullivan cotter & associates to determine the compensation level of the ceo. For the other key executive positions, the ceo recommends adjustments to the committee who, in turn, review these recommendations utilizing the sullivan cotter & associates reports and approves, disapproves or alters the proposals of the ceo for the other senior executives.”

“The organization operates under the whistleblower and document retention policy of its parent organization, lutheran medical center”

“Healthcare provider of physician services in conjunction with, and in support of, lutheran medical center.”

“Lmc physician services, pc ("pc") is formed for the sole purpose of promoting health for the benefit of the community by serving a large and indefinite class. The organization promotes health by engaging in the profession of medicine and providing medical services, in a manner that is exclusively charitable within the meaning of section 501(c)(3) of the internal revenue code. The provision of medical services has been carried on since the inception of the organization in 1994. The pc operates in support of lutheran medical center. Lutheran medical center is a not-for-profit corporation organized under the laws of the state of new york, and a charitable, tax-exempt organization under section 501(c)(3) of the internal revenue code. Lutheran medical center is an acute care hospital that conducts charitable and hospital activities. The pc provides professional medical services to patients, without regard for the patient's ability to pay. The organization has adopted the charity care policy of lutheran medical center.”

“Lutheran medical center physician services, pc is a professional corporation that provides multi-specialty medical and surgical services to lutheran medical center and the surrounding southwest brooklyn communities. Many of the pc's employed physicians also provide services to the lutheran family health center clinics, located at lutheran medical center and, a satellite office located in bay ridge. Major specialties represented by employees of the pc are as follows: medicine- internal medicine, cardiology, neurology, physical medicine and rehabilitation; medical oncology, rheumatology, endocrinology; surgery- thoracic, vascular, hand/plastic, urology, ophthalmology, orthopedics, general/trauma, bariatric; obgyn- reproductive endocrinology, urological gyn; gyn oncology; behavioral health- psychiatry and substance abuse. In 2013, more than 220,854 visits and procedures were performed on lutheran medical center patients, without regard for the patient's ability to pay.”

“Lmc physicians services, p.c. Is included in a combined audited financial statement for the year ending december 31st, 2013 the combined financial statements are prepared in accordance with generally accepted accounting principles in the united states of america ("gaap"). The combined financial statements include the accounts of lutheran medical center and all of its affiliated organizations. Per the instructions to the form 990, the organization is required to respond "yes" to part iv, question 12b if the organization is part of a consolidated financial statement. Since scting "yes" to this question may be misconstrued, the taxpayer is attaching this explanation to its form 990.”

“Transfers of net assets from related entities 10,040,899. Rounding”