Akron General Partners Inc

“Akron general partners, inc. Has one member, akron general health system. Akron general health system is organized in ohio as a non-profit organization and is recognized as exempt from federal income tax under irc (501)(c)(3). Akron general health system is not a private foundation.”

“Akron general health system has the power to appoint the members of akron general partners, inc. Governing body. The organization follows the practice under which akron general partners current board suggests candidates for openings on its board, that are then reviewed for approval by akron general health system's board.”

“Akron general health system is the sole member of akron general partners, inc. Akron general health system's responsibilities include providing long term planning, establishing system policies and procedures, financial management, and assisting organizations within the system in carrying out their exempt programs. Generally, akron general health system limits its power of approval over decisions made by the board of akron general partners to those concerning membership of that organization's board and that organization's annual budget.”

“Akron general partners, inc. Is a member of the akron general health system. Akron general partners, inc. Prepares its form 990 internally. The return is subject to financial review by the chief financial officer of akron general health system, the vice president of accounting and finance of akron general health system, and reviewed for compliance with the reporting requirements of form 990 by the director of corporate tax for akron general health system.”

“Akron general partners is a member of the akron general health system (system). Akron general health system is the parent organization of the system and as such it determines certain policies and procedures applicable to all member organizations. In the case of conflict of interest reporting, akron general health system not only determines the policy and the procedure, it carries out the procedure for all system organizations. A conflict of interest questionnaire is distributed to all board members, management personnel, employed physicians and any other personnel that have been designated by management. The distribution covers all system organizations. All responses that indicate a perceived conflict of interest are turned over to the governance committee (the committee) of akron general health system for review. The committee makes a determination as to whether the perceived conflict is likely to be an actual conflict, the materiality of any actual conflicts and the extent of safeguards required for any actual conflicts. Safeguards include, but are not limited to, requiring, in the case of a board member, that the person recuse himself or herself from any discussions or voting that may be affected by the conflict, requiring the person to disengage from the conduct creating the conflict or requiring the person to resign from the position affected by the conflict. This process is conducted by akron general health system's legal services department annually. The conflict of interest letter puts the recipient on notice that he or she is under an ongoing duty to report any potential conflicts that may arise subsequent to this formal process. Subsequent event reporting is monitored by akron general health system's legal services department. Any subsequent reported items are subject to the aforementioned review process by akron general health system's governance committee.”

“The reporting organization is a member of the akron general health system. The exempt purpose of the system parent, akron general health system (aghs), is to support the members of that system. One of the support services that aghs provides is determining the compensation of the top management personnel of the reporting organization. Aghs follows a process for determining compensation of the organization's ceo and other top management personnel that is modeled after the requirements found in internal revenue code section 4958 for establishing the presumption of reasonable compensation. Therefore, the process calls for recommendations - developed by an independent compensation consultant, based on comparable market data from published surveys and the forms 990 of comparable organizations - that are within the range of the compensation of similarly situated persons at similarly situated organizations. These recommendations are reviewed by a committee of the reporting organization's board of directors. The committee is comprised of independent persons and the deliberations are documented, contemporaneously, in the committee's minutes. The compensation for all top management was reviewed for reasonableness using this process in 2012.”

“Currently, akron general partners, inc. Does not make its governing documents, conflict of interest policy, or its financial statements generally available to the public. Akron general partners, inc. Does make these documents available on a case by case basis.”

“Book/tax difference on partnerships -272,920. Transfers from affiliates -2,600,000.”