Appalachian Regional Medical Associates Inc

“The parent company, appalachian regional healthcare system (arhs) oversees arma operations. Salaries and other common expenses incurred by arhs are allocated appropriately to arma. Payments to vendors are paid through arhs and all 1099's are issued through arhs.”

“The sole member is appalachian regional healthcare system.”

“The sole member arhs has the power to elect directors.”

“The sole member arhs has the power to: (1) merge or consolidate the corporation with any other nonprofit corporation; (2) acquire or create another corporation; (3) make a capital expenditure over a specified dollar limit to be established from time to time by the sole member; (4) sell capital assets valued over a specified dollar limit to be established from time to time by the sole member; (5) approve all amendments to the articles of incorporation and bylaws; (6) permit the dissolution of the corporation; and (7) appoint the members of the corporation's board of directors.”

“The system controller and the cfo review the 990 prior to filing with the internal revenue service. The return is made available to the board of trustees upon completion.”

“The conflict of interest policy is reviewed annually and applies to all employees, officers and board members. Should a conflict exist, the individual is recused from discussion and decision-making process.”

“Integrated healthcare strategies (ihs) conducted an independent compensation and benefit analysis for the ceo and entire senior executive team in january 2018. Comparative data was used in this analysis from national and regional peer groups (health systems with comparable net revenue, structure, and organizational complexity; benchmark data included his and sullivan cotter.)”

“The entity makes its form 990 available for public inspection upon request.”

“In june 2017, the gasb issued statement no. 87, leases (gasb 87). Gasb 87 establishes standards of accounting and financial reporting by lessees and lessors and establishes a single model for lease accounting based on the foundational principle that leases are financings of the right to use an underlying asset. Gasb 87 will require a lessee to recognize a lease liability and an intangible right-to-use lease asset at the commencement of the lease term, with certain exceptions, and will require a lessor to recognize a lease receivable and a deferred inflow of resources at the commencement of the lease term, with certain exceptions. The system adopted gasb 87 on october 1, 2021 and retroactively implemented the statement effective october 1, 2020. This adoption of this statement resulted in an change to opening equity of (194,308).”