Hoosick Falls Health Center Inc

“The sole member of the center is svhc - hoosick falls llc, a single member llc of southwestern vermont health care corporation.”

“The sole member has the power to appoint, fix the number of, and remove, with or without cause, the directors of the corporation.”

“The sole member has the power to: (1) approve, interpret and change the statement of mission and philosophy adopted by the corporation and to require that the corporation operate in conformance with its mission and philosophy; (2) approve and amend the bylaws and certificate of incorporation of the corporation; (3) approve any plan of merger, consolidation, dissolution or reorganization of the corporation or any sale, lease or other disposition of all of substantially all of their assets; (4) elect and remove, with or without cause, the chief executive officer of the corporation and/or the administrator of the nursing home if other than the ceo; (5) to approve the debt of the corporation, in excess of an amount to be fixed from time to time by the corporation, except for debt necessary to finance the cost of compliance with operational or physical plan standards required by law; (6) to approve the sale, acquisition, lease, transfer, mortgage, pledge or other alienation of real or personal property of the corporation in excess of an amount to be fixed from time to time by the board of managers of the member; (7) to approve the capital and operating budgets of the corporation to ensure that such budgets conform to the mission and philosophy of the corporation; (8) to approve settlements of litigation when such settlements exceed applicable insurance coverage or the amount of any applicable self-insurance fund; (9) to approve any corporate reorganization of the corporation and the development or dissolution of any subsidiary organizations of the corporation; (10) to approve the strategic plan of the corporation, provided that such right of approval shall not permit the corporation to exercise any of the governance authority under applicable regulations unless the corporation has received establishment approval from the public health and health planning council; (11) to approve any application to the new york state department of health by the corporation for a certificate of need; (12) to approve any final settlement by the corporation related to medicaid or any other payor audits; and (13) to approve any rate appeals to be initiated by the corporation.”

“The organization 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 for approval. Once the board has approved the return it is filed with the internal revenue service.”

“Each employee and board member has a responsibility at all times to promote the best interests of the center for nursing and rehabilitation at hoosick falls. A conflict of interest occurs when an employee's judgment in acting for the facility is adversely affected. Examples of conflicts of interest include but are not limited to: - accepting gratuities from other companies or individuals who do business with this facility or seek to do business with it. - rendering services to competitors. - using, facilitating, conveying, or permitting others to use facility documents, equipment, confidential information or trade secrets. - benefiting personally from any purchases or sales by this facility. - engaging in other employment to the detriment of the employee's work for the facility. Annually, all board members are required to complete and submit an annual conflict of interest disclosure form reporting any potential conflict of interests. If one believes a conflict of interest exists the individual must consult their supervisor, department manager, or administrator in which the determination of whether a conflict exists will be made and reviewed. Engagement in any business practices that compromise the facility in any way may result in the immediate termination of any and all employees involved in such activity, and may be grounds for legal action against those employees.”

“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.”

“Purchased services: program service expenses 89,378. Management and general expenses 342,497. Fundraising expenses 0. Total expenses 431,875. Physician & nursing purchased services: program service expenses 1,174,006. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,174,006. Pharmacy/dietary consulting: program service expenses 9,663. Management and general expenses 14,426. Fundraising expenses 0. Total expenses 24,089. Continuing education services: program service expenses 7,762. Management and general expenses 0. Fundraising expenses 0. Total expenses 7,762. Maintenance services: program service expenses 111,002. Management and general expenses 0. Fundraising expenses 0. Total expenses 111,002.”

“Change in beneficial interest in trust 3,596.”

“The organization has a committee that is responsible for the oversight of the audit of its financial statements and selection of an independent accountant. The process has not changed from the prior year.”