Valley Health System Inc.

“Valley health system's form 990 was provided to the organization's governing body's finance committee. When the 990 has been prepared, reviewed by management and is ready to be filed with the internal revenue service, it's submitted to members of the organization's governing body's finance committe for any comments. The finance committee reviews the 990 and provides any comments. The comments are reviewed and addressed until the return is finalized and approved for filing.”

“The board mandates that all members of management and the governing body sign a conflict of interest policy and disclose any potential or actual conflicts that may exist annually. If a conflict of interest exists the organization will notify members of management or the governing body and investigate the conflict. If it is determined that an actual conflict of interest exists, the member of management or the governing body will be notified immediately and will not be allowed to vote or be part of any decisions about such transactions.”

“The hospital and system has established a policy for compensation of its officers, top management and key employees. The policy mandates that compensation for its officers, top management and key employees be periodically reviewed by the executive compensation committee of the board of trustees free of any members with conflicts of interest related thereto. The committee determines that the executives are being paid an appropriate level of compensation by using comparative data for similarly qualified persons in functionally comparable positions at similarly situated organizations. Compensation decision on the amount of compensation paid and term is adequately documented in a contemporaneously written format.”

“Valley health system, inc. Makes its form 990, financial statements, form 1023, governing documents, and conflict of interest policy available upon written request at 223 north van dien ave, ridgewood, nj 07450 or by calling the organization directly at 201-291-6200.”

“Outside service fees: program service expenses 0. Management and general expenses 288,638. Fundraising expenses 0. Total expenses 288,638. Maintenance contracts: program service expenses 0. Management and general expenses 7,001,338. Fundraising expenses 0. Total expenses 7,001,338. Temporary help: program service expenses 0. Management and general expenses 299,785. Fundraising expenses 0. Total expenses 299,785. Consulting: program service expenses 0. Management and general expenses 1,950,836. Fundraising expenses 0. Total expenses 1,950,836. Agency fees: program service expenses 0. Management and general expenses 182,839. Fundraising expenses 0. Total expenses 182,839.”

“Equity in net income (loss) of subsidiary -4,303. Rounding -1.”

“The organization has a committee that assumes responsibility for oversight of the audit of its financial statrements and selection of an independent accountant. This process did not change from the prior year.”