Olean General Hospital Foundation

“Draft copies of the 990 are sent to each member of the board of directors as soon as completed. If received in time for the quarterly board meeting held prior to the may 15th deadline or the extended deadline, the 990 is reviewed by the treasurer at this meeting. However, if the draft is not received in time prior to a regularly scheduled meeting, the form 990 is distributed to all board members for their review and comment prior to filing. In the event there are any issues, a special board meeting is held via conference call to address concerns prior to filing. There may be times that the filing of an extension may be needed in order to allow a thorough review. The treasurer of the board and the president of the foundation will be available to address any questions or concerns about the 990. Once approved by the full board of directors, the 990 will be appropriately filed. The 990 will also be posted on our website to allow for full disclosure to our constituents.”

“The foundation's conflict of interest policy is presented and reviewed annually. Each board member completes a disclosure form. All the disclosure forms are then copied and distributed at the next meeting so that all board members are aware of all disclosures. If during the year there are additional disclosures that need to be made, officers, directors, and key employees are aware that issues must be immediately disclosed. As per our policy, all disclosure forms are sent to our hospital ceo.”

“The compensation of the foundation president is reviewed and approved using data as comparable compensation for similarly qualified persons in functionally comparable positions at similarly situated organizations. Data utilized is from the most recent survey provided by the association of healthcare philanthropy. The review is completed by the executive committee (officers of the corporation) and then reviewed with the full board of directors. There is full documentation and recordkeeping with respect to the deliberations and decisions regarding the compensation arrangement.”

“The foundation's 990 is available on the olean general hospital website. Other governing documents, conflict of interest policy, and financial statements are available upon request from the foundation office at no charge. Gift remittance envelopes indicate the number to call for copies.”

“There have been no changes to the process in the current year.”