Virtua-Memorial Hospital Burlington

“In connection with the coordinated approach of the entities as a health care system all account payable transactions are conducted by virtua west jersey health system, inc. (21-0634532).”

“Virtua health, inc. Is the sole corporate member.”

“The governance committee of virtua memorial's board of trustees makes recommendations for new membership and the virtua health, inc. Board of trustees gives the final approval.”

“The chairs of the various board committees of virtua-memorial hospital burlington county, inc. Present their recommendations on significant matters to the full virtua health, inc. Board of trustees for their approval.”

“The form 990 is reviewed by in-house counsel, external tax consultants, and the board of trustees. A final copy of the form 990 is provided to the board prior to filing.”

“Virtua-memorial hospital burlington county, inc. Adopts the policies of virtua health, inc. Regarding monitoring and enforcing a conflict-of-interest policy. Virtua-memorial hospital burlington county, inc. Requires each trustee, officer, key employee and member of a committee with board-delegated powers to annually sign a statement in which they agree to comply with the conflict-of-interest policy. The board of trustees is responsible for ensuring that periodic reviews of operations are conducted so that the organization operates in a manner consistent with its charitable purposes and does not engage in activities that could jeopardize its status as an organization exempt from federal income tax. In connection with any actual or possible conflict of interest, an interested person must disclose the existence of his or her financial interest and must be given the opportunity to disclose all material facts to the trustees and members of committees with board-delegated powers considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining trustees or committee members shall decide if a conflict of interest exists. If it is determined that one does exists, the conflict is either mitigated, if possible, or the person is removed from the board.”

“Virtua-memorial hospital burlington county, inc. Executives are compensated by virtua-memorial hospital burlington county, inc., however not exclusively; in some cases executives also receive compensation from virtua health, inc. (ein 22-3524939), a related entity. See schedule j, part iii (reference to schedule j, part i, line 3) for a description of the manner in which virtua health, inc. Utilizes to determine the compensation paid to the executives.”

“Virtua complies with legal requirements relative to making available its governing documents and conflict of interest policy. Financial statements are posted on the virtua health website at https://www.virtua.org/about/financial-information and also are available through the repository websites emma (electronic municipal market access system) and dac (digital assurance certification), or upon request.”

“One or more of the officers, directors, trustees, and key employees in the filing organization's part vii had transactions related to the "collateral assignment split dollar" (casd) program offered by virtua health. All transactions related to this program were between the individual and virtua health, inc. Ein 22-3524939. Therefore, all part x and schedule l reporting related to these transactions are reported on virtua health's return. No board member is paid for trustee services rather the compensation disclosed is related to the individuals' provision of services to the filing organization or a related organization.”

“Virtua-memorial hospital burlington county, inc. Executives are compensated by virtua-memorial hospital burlington county, inc. However not exclusively; in some cases executives also receive compensation from virtua health, inc. (ein 22-3524939), a related entity. Some officers devote 40 hours a week to virtua health, inc. The amount of time devoted to related organizations is dependent upon their involvement in those organizations. As a result, the total average hours per week for each officer may vary.”

“Trustee and officer changes: in the third quarter of 2023, mhbc adopted revised bylaws, resulting in the dissolution of its mirror board structure with its parent company. As part of this transition, some trustees and officers of mhbc are employees of the parent organization. These individuals will be reported as ""former" on form 990 for the required five-year disclosure period. These individuals were dennis w. Pullin who was listed as trustee and officer in 2023, and robert m. Segin and lauren rowinski who were listed as officer in 2023. Key employee designation: prior to 2023, mhbc identified key employees for form 990 reporting based on a system-wide (global health system) perspective rather than on an entity-specific basis. As a result, certain individuals were reported as key employees across multiple form 990 filings. To better align with irs form 990 instructions, mhbc revised its methodology in 2023 and now determines key employee status on an entity-by-entity basis, based on the entity employing the individual. Only those who meet the criteria as key employees for mhbc are now disclosed in part vii. Former key employees will continue to be reported on the appropriate form 990s for the required five-year period. Lisa c. Ferraro was listed as key employee in 2022.”

“Virtua-memorial hospital burlington county, inc., d/b/a virtua mount holly hospital ("virtua-memorial") is a not-for-profit, tax-exempt corporation. Virtua-memorial owns and operates a 383 licensed bed acute care hospital in mount holly, new jersey. Virtua-memorial provides general health care services to residents within its geographic location for a wide range of inpatient and outpatient services, including medical, surgical, cardiac, obstetrical, gynecological, oncological, pediatric, emergency, behavioral health, and ambulatory care. Statistics for the year 2024: - hospital admissions: 17,680 - patient days: 76,645 - same day surgery cases: 7,852 - emergency department visits: 46,919 - outpatient visits: 194,928 - observation cases: 3,992”

“Transfer with affiliates - vmg 21,107,203. Net change in trust funds 508,737. Transfer with affiliates - virtua 34,881. Transfer with affiliates - cns 28,819. Restricted interest 1,925. Resctricted expenses from vhf -261,740.”

“The amount reported on line 20 is the organizations' allocated amount of total bond issuance, the total bond issuance is reported by virtua health, inc. On sschedule k (ein 22-3524939).”