Calvary Hospital Inc

“Thomas j. Fahey jr., md (director, thru feb. 2024) and ann leilani fahey, md (director, thru feb. 2024) have a family relationship.”

“The sole "member" is the catholic health care system.”

“The "member" has the right to elect the board of directors and appoint the chairman of the board, amend the by-laws and certificate of incorporation and approve substantial transactions.”

“The "member" has the right to amend the by-laws and certificate of incorporation and approve substantial transactions.”

“Calvary hospital has its form 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate. When the form 990 has been prepared, reviewed by management and is ready to be filed with the internal revenue service, it is electronically sent to the board members of the organization for any comments. Any comments are then grouped, summarized and provided to the outside accountants. Each issue is documented and addressed until the return is finalized and approved for filing.”

“The policy on conflicts of interest is designed to provide guidance to all members of the board, the officers of the organization, and to all persons employed by the organization. A board member or officer shall disclose any conflict of interest of which he or she has knowledge: (a) prior to voting on or otherwise discharging his or her duties with respect to any matter involving the conflict which comes before the board or any committee of the board; (b) prior to entering into any contract or transaction involving the organization; (c) as soon as possible after the board member or officer shall learn of a conflict of interest in any other context. Disclosure of the material facts surrounding the board member or officer's conflict of interest shall be made to the board or, in the case of a committee, to the chairperson of that committee. Failure to disclose adequately a potential or actual conflict of interest shall constitute cause for removal from the board. Following receipt of information concerning a contract or transaction involving a potential conflict of interest, the board shall consider the material facts concerning the proposed contract or transaction, including the process by which the decision was made to recommend entering into the arrangement on the terms proposed. (a) an interested person may make a presentation at the board or committee meeting, but after such presentation, he or she shall leave the meeting during the discussion of, and vote on, the transaction or arrangement that results in the conflict of interest. An interested board member may not be counted in determining the presence of a quorum at a meeting of the board or committee at which discussion or a vote on the transaction or arrangement takes place. (b) an interested board member or officer shall not use personal influence with regard to the board's determination that a conflict exists or the board's vote on the matter. (c) if appropriate, the chairperson shall appoint a disinterested person or a committee of the board to conduct an assessment of fair market value for a particular transaction, or to investigate alternatives to the proposed transaction or arrangement. (d) the board shall approve only those contracts or transactions in which the terms are fair and reasonable to the organization and the arrangements are consistent with the best interests of the organization. The minutes of the board and of all committees with board delegated powers shall contain the following with regard to consideration of any matter involving a conflict of interest: (a) the names of the persons who disclosed or otherwise were found to have a financial or other interest in connection with an actual or possible conflict of interest, the nature of the conflict of interest, any action taken to determine whether a conflict of interest was present, and the board's or committee's decision as to whether a conflict of interest in fact existed; (b) the names of the persons who were present for discussion and votes relating to the transaction or arrangement, a summary of the content of the discussion, including consideration of alternatives to the proposed transaction or arrangement and the nature of and source of any data relied upon in making an assessment of fair market value, and a record of any votes taken in connection therewith; and (c) in any case when the board approves an arrangement or transaction involving a conflict of interest, the minutes of the meeting shall set forth the basis for the board's decision. An employee of the organization with a potential conflict of interest in a particular matter shall promptly and fully disclose the potential conflict to his or her supervisor. The employee shall thereafter refrain from participating in any decisions relating to the matter and follow the direction of the supervisor as to how the organization's decisions which are the subject of the conflict will be determined. The compliance officer of the organization shall”

“Calvary hospital, inc. Undertakes a rigorous process to ensure that the executive compensation it pays to its top management officials and all officers and key employees of the organization is reasonable. In relevant part, the board of directors has established a compensation committee comprised of independent persons that have no personal interest in the proposed compensation arrangement. The board of directors uses an independent compensation consultant to help advise on the appropriate compensation levels for the aforementioned individuals. That compensation consultant will use comparability or benchmarking data (based on industry surveys) that documents the compensation of persons holding similar persons in similar organizations. The hospital commissioned its most recent independent compensation study in february of 2023. Once the compensation consultant has made its recommendations, the calvary compensation committee must approve the compensation, without input or voting participation by the person whose compensation is being approved or by any other individual with a conflict of interest. The final determination is then documented in committee minutes. Those minutes will contain the terms of the proposed compensation, the decisions of those individuals who voted on the compensation, and the comparability data that was relied upon.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is posted on guidestar.org and other similar types of websites. In addition, the financial statements, conflict of interest policy, articles of incorporation, and by-laws are also available upon written request or by calling the organization directly.”

“Other accrued pension costs -2,829,943. Change in beneficial interest in net assets of calvary fund, inc. 5,334,190. Other changes in accrued retirement benefits 7,298,566. Gain on disposal of assets 15,912.”

“The organization has a committee that assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant. This process did not change from the prior year.”