Northeastern Vermont Regional Corp

“The Organization has one class of member that shall consist of not less than fifty nor more than two hundred twenty-five persons elected in accordance with the Organization's bylaws plus the medical staff members of the Northeastern Vermont Regional Hospital, Inc. (NVRH) who have served at least six months on the medical staff.”

“The directors of the Organization shall consist of up to twenty persons elected by a plurality of the members of the Organization, represented in person or by proxy. Each director of the Organization shall be a member of the Corporation and a resident of the area served by Northeastern Vermont Regional Hospital, Inc.”

“The process for reviewing the Organization's 990 evolves from oversight for utilized numbers from the TB which have been audited. Schedules to support various aspects of the tax return are prepared by community health team, finance department staff and Andre Bissonnette CFO reviewed the 2023 (FY24) information which is submitted to the auditors. A copy of Form 990 is provided to the Organization's board on the closest meeting date after the filing of the return.”

“The Organization monitors potential conflicts of interest by requiring directors and trustees to complete an annual questionnaire. Board members disclose any potential conflicts prior to voting. Significant conflicts of interest would be discussed with legal counsel prior to board action. During FY24, the Organization implemented a new written conflict of interest policy which applies to the Board of Directors and various other members of Hospital leadership.”

“A compensation committee sets the compensation level for the Organization's CEO. The CEO is charged with determining the compensation level for the Organization's CFO. The basis for arriving at the CFO and CEO's compensation is determined by using comparable compensation data of the CEOs and CFOs from other similar sized Vermont hospitals. The Organization obtains this data by examining other Vermont hospital Form 990s. Compensation for all other key employees is based on the Vermont and New Hampshire annual wage survey. The CEO has the final determination for the appropriate level of compensation for all other employees.”

“The Organization makes its financial statements available to the public upon request as well as through the publishing of its annual report on its website. The Organization makes its governing documents and conflict of interest policy available to the public upon request.”

“Section 1.263(a)-3(n) Election: Northeastern Vermont Regional Corp. 1315 Hospital Drive St. Johnsbury, VT 05819-0905 EIN: 22-2583253 Northeastern Vermont Regional Corp. is electing to capitalize repair and maintenance costs under Regulation Section 1.263(a)-3(n).”

“Northeastern Vermont Regional Hospital (NVRH), a subsidiary to the filing organization, files all forms W-2 for both entities. Northeastern Vermont Regional Corp. (NVRC) has no employees of their own; however, various individuals who are employees of NVRH perform some services for NVRC.”