New England Life Care Inc

“Each hospital that the Organization provides services for owns an equity share in New England Life Care, Inc. There is a single class of membership in the Corporation. Any nonprofit hospital located in Maine, New Hampshire, Massachusetts, or Vermont authorized to provide services under Internal Revenue Code section 501(e) is qualified for membership and may be elected to membership at any annual or special meeting of the members by a two-thirds majority vote of the entire membership of the Corporation. No member may hold more than one membership in the Corporation. The Corporation shall have no capital stock; however, membership certificates of the Corporation shall be required. No later than the 15th day of the ninth month after the end of each fiscal year, the Corporation shall allocate or pay all of its net earnings to its members on the basis of patronage of the Corporation's services performed for each member, subject to cash reserve requirements.”

“There is a single class of membership in the Corporation. Application for new membership is submitted in writing to the Board of Directors and Board Secretary. Upon a majority approval by the Board, the application is submitted to the full membership for ratification. No Member may hold more than one membership in the corporation. Each Member shall be entitled to vote on each matter submitted to a vote of the membership. A majority of the Members must vote in the affirmative to accept a new member application.”

“All Board Members are comprised of directors from Member Organizations. The Board of Directors shall consist of not less than seven and not more than fifteen directors. Each director shall serve for a 2 year term. A Member Hospital may nominate a representative to the Board of Directors to fill an open Board position. The composition of the Board of Directors shall be determined periodically by a resolution of the Board of Directors. A director filling a newly created directorship shall be elected by an affirmative vote of a majority of the directors. Vacancies on the Board caused by resignations, removal, disqualification or death of a director may be filled by a new director elected by an affirmative vote of a majority of the remaining directors.”

“The Organization has no formal board sub-committee to handle this function.”

“The Organization's CEO and CFO review the annual Form 990. It is then distributed to all Board Directors for review, comment and revision as necessary before filing.”

“All employees execute a formal disclosure document on an annual basis. Any apparent conflict is reported to the compliance officer, to legal counsel, and, if appropriate, to the full board.”

“CEO and CFO compensation is reviewed and approved by the NELC Board of Directors. All other NELC executives and key employee compensation matters are administered internally with Board of Directors oversight during the annual budget process and review of the Form 990 compensation disclosures. The Board also commissions a third-party compensation market review on a routine basis.”

“The Organization's governing documents, conflict of interest policy, and financial statements are made available to the public upon request.”

“Inception to date, NELC has provided $29,598,346 of uncompensated free care (Charity Care) to patients. Charity care services provided in 2024 amounted to $1,413,151.”

“Section 1.263(a)-3(n) Election: New England Life Care, Inc. 45 Center Street, Suite A Scarborough, ME 04074 EIN 22-3195337 New England Life Care, Inc. is electing to capitalize repair and maintenance costs under Regulation Section 1.263(a)-3(n).”

“New England Life Care is a cooperative hospital service organization described in IRC section 170(b)(1)(A)(iii), and is comprised of a number of member hospitals. However, the Organization is not licensed in the State of Maine as a hospital. Accordingly, Schedule H is not being attached, as the Organization does not meet the definition of a hospital for purposes of Schedule H.”