St Mary'S Hospital

“The organization's federal form 990 was provided to each member of the organization's finance committee of the board of directors prior to filing with the internal revenue service ("irs"). In addition, the organization's finance committee assumed the responsibility to oversee and coordinate the federal form 990 preparation, review and filing process. As part of the organization's federal form 990 tax return preparation process, the system hired a professional certified public accounting ("cpa") firm with experience and expertise in both healthcare and not-for-profit tax return preparation to prepare the federal form 990. The cpa firm's tax professionals worked closely with the organization's finance personnel and system individuals including senior vice president/general counsel, executive vice-president and chief financial officer, vice president of internal audit and various other individuals to obtain the information needed in order to prepare a complete and accurate tax return. The cpa firm prepared a draft federal form 990 and furnished it to the organization's internal working group and to each member of finance committee of the board of directors for review. The organization's finance personnel and its finance committee reviewed the draft federal form 990 and discussed questions and comments with the cpa firm. Revisions were made to the draft federal form 990 where necessary and a final draft was furnished by the cpa firm to the organization's internal working group and finance committee for final review and approval.”

“The hospital has a corporate compliance policy which addresses conflicts of interest in place that the board members and officers read and sign off on annually. The compliance officer reviews and monitors the policy and is kept informed of any compliance issues. Violations are handled on a case by case basis.”

“The board of trustees in executive session reviews the compensation of executives. An analysis is presented and reviewed as to accomplishments against established goals. The financial and clinical performance of the hospital is reviewed against industry benchmarks. Finally, market compensation data is reviewed and compared to executive compensation as to reasonableness of compensation levels to ensure compensation does not exceed fair market value. The executives salaries are approved by the board and documented via executive session minutes.”

“The organization's filed certificate of incorporation and any amendments can be obtained and reviewed through the state of new jersey department of the treasury. In addition, the organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Effective with the close of business on august 14th, 2014, the ownership of st. Mary's hospital was transferred to prime healthcare services-st. Mary's passaic, llc, a delaware limited liability company. Due to the difficulty in separating financial information post closing date, this form 990 includes revenue and expense information for the period of january 1, 2014 through july 31, 2014 only.”

“Other changes in net assets or fund balance include: - transfer of ownership to prime healthcare services-st. Mary's passaic, llc, a delaware limited liability company; $74,533,469.”

“Description:consulting services total fees:11386272”