Jfk Health System Inc

“An Ad-hoc Committee, which includes the Chairman of the Audit and Compliance Committee and a selected designee of the Audit and Compliance Committee as well as designees from the Finance, Legal, Audit and Compliance departments, review the IRS 990 Tax Returns with EisnerAmper LLP, the tax accountant for JFK Health System, Inc. During this review, all comments and recommendations that are made are addressed by the Finance, Legal, and Audit and Compliance departments along with EisnerAmper. The final revised drafts are reviewed by the Ad-hoc Committee to ensure all comments and recommendations were addressed in the final drafts. The Audit and Compliance committee has given the Ad-hoc Committee the authority to approve the IRS 990 Tax Returns. Once the IRS 990 Tax Returns are approved by the Ad-hoc Committee, all Board members are sent an e-mail with instructions on how to access the respective IRS 990 Tax Returns for their review and comments for 4 days on a secure website provided by EisnerAmper LLP. At the end of the 4 day review period, and after any comments have been addressed, the IRS 990 Tax Returns are finalized and filed. Also, after the IRS 990 Tax Returns are filed, the returns are posted on the JFK Health System Board Portal.”

“On an annual basis, conflict of interest disclosure statements are distributed to all board members and employees that are department head and higher levels. All disclosures are reviewed by the compliance officer and the chair of the jfk health system audit and compliance committee. Any potential conflict of interest is brought to said committee for review and consideration and any appropriate action deemed necessary pursuant to the conflict of interest policy.”

“The jfk health system board of directors has duly appointed an executive compensation committee (the "committee") that is responsible for the review and approval of all compensation and benefits provided to executive management of the organization. The committee has adopted a written executive compensation philosophy statement and an executive compensation committee charter. The committee follows the procedures described in the philosophy statement and the charter when it reviews and approves the compensation and employee benefits provided to the organization's senior management, including the president and chief executive officer and the chief financial officer. The committee's review analyzes every element of compensation, including current and deferred compensation, and benefits, including qualified and non-qualified benefits. The committee conducts its review and approval process at least annually, and approves compensation and benefits only to the extent that the committee has concluded that the total compensation and benefits constitute no more than reasonable compensation. The committee consists entirely of independent members of the jfk board, the committee reviews in advance independent data showing the compensation provided by non-profit organizations for functionally similar positions, and the committee prepares a timely and thorough written record of its deliberations and conclusions. Assisting the committee is an outside compensation consultant along with outside legal counsel. As a result, the committee's review process is designed to satisfy the procedural criteria necessary to qualify for the rebuttable presumption of reasonableness under the federal income tax law intermediate sanctions rules.”

“Jfk health system's consolidated and consolidating financial statements are posted on the jfk health system website; any other public information is available upon request.”

“Method employed in the determination of estimated hours per week. During the annual budget process, the finance department performs an analysis of the executive level employees' time allocation from time keeping records. The appropriate adjustments are made to the time allocations at that time. The hours per week for officers of jfk health system are allocated amongst many of the related organizations.”

“Definition of ex-officio: people who hold a position by virtue of their office.”

“The process has not changed since last year. Jfk health system has a committee that assumes responsibilty for oversight of the audit of its financial statements and selection of an independent accountant.”

“Jfk health system is a non-profit organization that encompasses a wide array of organizations, services and facilities in the central new jersey area. The system was created through the consolidation of jfk medical center and muhlenberg regional medical center in 1997. Jfk health system's acute care hospital, inpatient and outpatient rehabilitation centers, nursing and convalescent facilities and specialized treatment centers employ over 4,500 employees.”

“Jfk health system serves an urban / suburban area of middlesex and union counties. Middlesex county is the third largest county in new jersey with more than 837,000 residents while union county has a population of 556,000.”

“Description on why the return was not timely filed. Awaiting information from third parties necessary to file a complete and accurate return.”

“Jfk health system maintains a master employee leasing agreement that provides for the leasing of personnel to and from various jfk health system entities.”