Glens Falls Hospital Foundation

“A copy of form 990 was provided to the foundation's board to review and comment on. It was also reviewed by the hospital's cfo and controller to review and comment on. In addition, form 990 was reviewed by an independent accountant, kpmg, to make sure it was filled out completely and accurately. It was filed on a timely basis after review.”

“Each director, principal officer, and member of a committee with board delegated powers shall annually sign a statement which affirms that such person, a) has received a copy of the conflicts of interest policy, b) has read and understands the policy, c) has agreed to comply with the policy and, d) understands that the corporation is a charitable organization and that in order to maintain its federal exemption it must engage primarily in activities which accomplish one or more of its tax exempt purposes. To ensure that the corporation operates in a manner consistent with its charitable purposes and that it does not engage in activities that could jeopardize its status as an organization exempt from federal income tax, periodic reviews shall be conducted.”

“Glens falls hospital foundation does not pay salaries, they are paid by an affiliate, glens falls hospital. The foundation follows the same policies and is committed to developing and maintaining a total compensation program that is competitive with programs offered by other healthcare organizations that are comparable to glens falls hospital in revenue structure, mission, and scope of services. The compensation philosophy includes: base salary ranges in the 50th percentile of a national and regional peer group, annual incentive opportunities tied to performance goals established by the glens falls hospital board, benefits delivered in the 50th percentile of a national peer group, and total compensation positioned at approximately the 50th percentile for expected performance, and somewhat above that for exceptional performance. Executive pay is reviewed annually by a third-party consultant. This review includes a comparison of glens falls hospital executive pay practices with national and regional benchmark studies as appropriate. The consultant is engaged directly by the glens falls hospital board of governors and reports their findings to the board personnel committee for review and action.”

“The organization makes it governing documents, conflicts of interest policy and financial statements available to the public upon request.”

“Glens falls hospital is the paying organization for all salaries of glens falls hospital foundation, therefore, glens falls hospital foundation issues no w-2s.”

“Mission and statement of purpose: ensure a quality future for glens falls hospital, the mission of glens falls hospital foundation is to create a positive image, forge and nurture relationships, secure private funding, and augment hospital resources. The purpose of glens falls hospital foundation is: a. To create a greater awareness in the community of glens falls hospital and its mission. Through this awareness we must intensify the desire to help the hospital meet its need and strengthen its purpose. B. To secure the necessary financial support to help bridge the gap between the hospital's needs and priorities and available funding. We will obtain this support through the development of comprehensive program in annual giving, corporate giving, major donor giving, planned giving, special campaigns, government grants and foundation giving. C. To establish and cultivate a base of contributors and volunteers: to enhance the tradition of giving to glens falls hospital. D. To secure private financial and human resource support for the hospital from its various constituencies. These include patients, staff, corporations, private foundations, trustees and other friends of glens falls hospital.”

“Net provision for uncollectible accounts -15,000.”