Ferrell Hospital Community Foundation

“Clifford eugene morris and dr. Nate oldham have a family relationship.”

“Effective january 1, 2016, the hospital entered into a five-year management services agreement. Management services provided to the hospital consist of management personnel including a ceo and cfo, facility planning, strategic planning, recruiting, and several other support and oversight services. The initial term of the agreement was for a five-year period, which could be extended beyond the initial five-year period, if so desired. Ferrell hospital elected to extend the agreement after the initial five-year period ended. The agreement could be terminated by either party with a one hundred and eighty day notice without recourse subsequent to the initial five-year term. The hospital will reimburse the management service provider the actual cost of providing the management services on a monthly basis for the years ended march 31, 2025 and 2024. Management fees incurred were $120,000 per year during the fye 2025, a portion of cost report proceeds totaling $1,573,495 and the following individuals were compensated by the management service provider: tony keene, ceo, greg wright, cfo, and rachel prather, cno totaling $699,559.14. Unless otherwise terminated, upon expiration of the initial term the management agreement will thereafter automatically renew for additional consecutive one year periods ("extended terms").”

“The ceo and cfo review the completed form 990 as prepared by the paid provider for completeness and accuracy. The board chair, the ceo and the cfo submit the form to the board at the next board meeting which will take place after the 990 is submitted for fye 2025.”

“Copies of the conflict of interest policy are provided to each director, officer, and management person at least once per year, with requirement that they complete a certificate. The certificate confirms that they understand this policy, agree to comply, indicate any known conflicts, and have no knowledge of any additional violations of the policy. Any person with a conflict is required to complete a specific disclosure notice.”

“The ceo's salary was determined by comparison with prior persons employed in the position, industry comparisons, relative experience and knowledge. The ceo's salary was approved by the board of directors. All deliberations are included in board minutes. This process was last completed in 2016 upon entering into the management services agreement.the cfo's salary was determined and approved in the same manner as the ceo's salary. All other executive salaries are approved by executive management and analyzed based on industry comparative data and position descriptions, commensurate experience, expertise and training. This process was last completed in 2016.”

“Ferrell hospital's governing documents, conflict of interest policy, financial statements, and federal form 990 tax returns are available to the public by request.”

“Professional medical fees: program service expenses 1,172,709. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,172,709. Purchased services: program service expenses 8,232,589. Management and general expenses 4,865,935. Fundraising expenses 0. Total expenses 13,098,524.”

“Change in prior year nprs and nonoperating revenue on final afs 3,180,890.”

“This process has not changed from prior year.”