Delco Memorial Foundation

“Delaware county memorial hospital ("dcmh") is the sole member of this organization. Crozer-keystone health system ("ckhs") is the sole member of dcmh. Ckhs has the ultimate authority and right to elect the members of this organization's board of directors and has certain reserved powers as defined in this organization's bylaws.”

“The organization is an affiliate within crozer-keystone health system and controlled affiliates ("system"); a tax-exempt integrated healthcare delivery system. Crozer-keystone health system is the tax-exempt parent organization of the system. The organization's federal form 990 was provided to and made available to the audit committee of crozer-keystone health system for review by its members prior to filing with the internal revenue service ("irs"). Following this review the form 990 was provided to each voting member of the organization's governing body, its board of directors, prior to filing with the irs. The crozer-keystone health system board of directors has delegated to its audit committee the responsibility to oversee, review and approve of the federal form 990, including the preparation, review and filing process. As part of the tax return preparation process the organization hired a professional 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 various other individuals of the organization and the system 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 finance personnel and other individuals for their review. The organization's finance personnel and other individuals 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 finance personnel and various other individuals for final review and approval prior to presentation of the federal form 990 to the members of the crozer-keystone health system audit committee. Thereafter, the form 990 was provided to each voting member of the organization's governing body, its board of directors, prior to filing with the irs.”

“The organization regularly monitors and enforces compliance with its conflict of interest policy. Annually all members of the board of directors, officers and senior management personnel are required to review the existing conflict of interest policy and complete a questionnaire. The completed questionnaires are returned to the organization's vp/general counsel for review. Thereafter the vp/general counsel prepares a summary of the completed questionnaires which contains information disclosed on an individual by individual basis. Thereafter, the vp/general counsel of the organization presents this summary to the organization's governance committee for its review and discussion.”

“The organization is an affiliate within crozer-keystone health system, a tax-exempt integrated healthcare delivery system whose parent organization is crozer-keystone health system ("ckhs"). Ckhs' board of directors maintains a compensation committee ("committee"). The committee is comprised of members of the board of directors each of whom is independent and free from any conflicts of interest. The committee has adopted a written compensation philosophy which it follows when it reviews and approves or concurs with the compensation and benefits of ckhs' senior management, including: the president/chief executive officer and senior vice president/chief financial officer. The compensation committee bylaws outline the powers and functions of the compensation committee. The committee relies upon appropriate comparable data from an independent consulting firm which specializes in reviewing hospital and healthcare system executive compensation and benefits throughout the united states. This study uses comparable geographical and demographic market data including, but not limited to, similarly sized healthcare systems and hospitals, number of licensed beds, and net patient revenue on both a regional and national basis. The committee documents its basis for its determination through the timely preparation of written minutes of compensation committee meetings during which the executive compensation and benefits are reviewed and subsequently approved. The compensation and benefits of the president/chief executive officer are reviewed by the committee on an annual basis in conjunction with the individual's job performance. The compensation committee then recommends to ckhs' board of directors appropriate compensation for the president/chief executive officer. The board of director's then reviews the committee's recommendation and approves the compensation of the president/chief executive officer based on the committee's recommendation. The president/chief executive officer establishes, after discussion with and concurrence by the committee, the compensation levels of the senior vice president/chief financial officer; and certain other individuals deemed to be disqualified persons pursuant to the internal revenue service definition. The president/chief executive officer also receives assistance from ckhs' human resources department in conjunction with each individual's job performance during the year. Compensation review and approval is also based upon other objective factors designed to ensure that reasonable and fair market value compensation is paid by ckhs. Other objective factors include market survey data for comparable positions, individual goals and objectives, personnel reviews, and evaluations. The activities and procedures followed by the committee enable ckhs to qualify for the rebuttable presumption of reasonableness for purposes of internal revenue code section 4958 with respect to the total compensation of all individuals disclosed on this form 990, including the president/ceo and senior vice president/cfo.”

“The organization's filed certificate of incorporation and any amendments can be obtained and reviewed through the commonwealth of pennsylvania.”

“Part vii and schedule j reflect certain board members and officers including the president/chief executive officer, executive vice president/chief operating officer, senior vice president/chief financial officer and senior vice president administration receiving compensation and benefits from the organization or a related organization. Please note this remuneration was for services rendered as full-time employees or independent contractors of the organization or a related organization and not for services rendered as a voting member or officer of this organization's board of directors.”

“The organization is an affiliate within crozer-keystone health system and controlled affiliates ("system"). The system includes both for-profit and not for-profit organizations. Certain board of director members, officers and/or directors listed on core form, part vii and schedule j of this form 990 may hold similar positions with both this organization and other affiliates within the system. The hours shown on this form 990, for board members who receive no compensation for services rendered in a non-board capacity, represent the estimated hours devoted per week for this organization. To the extent these individuals serve as a member of the board of directors of other related organizations in the system, their respective hours per week per organization are approximately one hour. The hours reflected on part vii of this form 990, for board members who receive compensation for services rendered in a non-board capacity, paid officers and key employees, reflect total hours worked per week on behalf of crozer-keystone health system and controlled affiliates; not solely this organization.”

“Other changes in net assets or fund balance include: - investment income/realized gains(loss); $300,602; and - net assets released from restrictions; ($547,203).”

“The organization is an affiliate within crozer-keystone health system and controlled affiliates ("system"). An independent cpa firm audited the consolidated financial statements of the taxpayer and all affiliates for the fiscal years ended june 30, 2014 and june 30, 2013; respectively and issued a consolidated financial statement with consolidating schedules by entity. An unqualified opinion was issued each year by the independent cpa firm. The taxpayer's audit committee assumes responsibility for oversight of the audit of its financial statements and the selection of an independent auditor.”

“The organization is an affiliate within crozer-keystone health system ("system"); a tax-exempt integrated healthcare delivery system. The system engaged an independent accounting firm to prepare and issue a system wide consolidated a-133 audit. This organization was included in the system wide a-133 audit.”