The Physicians Foundation Inc.

“The foundation has contracts with independent contractors who provide services as chief executive officer (ceo) and chief operating officer (coo). The compensation paid to these individuals has been disclosed on page 8, part vii, section b.”

“The articles of incorporation were amended in 2018 to amend the charitable purposes of the foundation to be organized and operated to support, benefit or carry out the charitable purposes of the 20 publicly supported medical societies and associations named therein, the purposes of which include "promoting high quality medical health care, including, without limitation, assisting physicians and the public to improve the quality of health care received by patients in an evolving health care environment and to enhance the delivery of medical care to disadvantaged members of the public in a manner that constitutes charitable, scientific or educational purposes within the meaning of sections 501(c)(3) and 170(c)(2)(b) of the code." other amendments included revising the article related to the board of directors to refer such provisions to the bylaws. The bylaws were also amended in 2018 to make conforming changes related to the charitable purposes and the board of directors as amended by the articles of incorporation.”

“The medical associations and societies named in the foundation's bylaws have the power to appoint members of the board of directors and may remove their respective appointees.”

“A draft of the form 990 is reviewed by the coo and distributed to each board member prior to filing with the irs.”

“Board members are required to disclose potential conflicts of interest no less frequently than annually. The board of directors reviews the disclosures and ensures all transactions are fair to the foundation. If the policy is violated, the board of directors may void the contract or transaction and recover damages or modify the price and terms to match what the foundation would receive in an arm's-length negotiation.”

“In 2015, the board of directors contracted with an independent compensation consultant to ensure that amounts paid to directors and to the llc's providing ceo and coo services to the foundation are not excessive.”

“All required documents are available to the public upon written request.”

“Payments in lieu of board stipends: program service expenses 13,680. Management and general expenses 4,320. Fundraising expenses 0. Total expenses 18,000. Grant management fees: program service expenses 292,061. Management and general expenses 157,264. Fundraising expenses 0. Total expenses 449,325. Communications: program service expenses 275,801. Management and general expenses 118,200. Fundraising expenses 0. Total expenses 394,001.”