Methodist Hospital Foundation

“In accordance with the organizations bylaws, the bishop with episcopal responsibility for the eastern pennsylvania conference of the united methodist church or his/her designee and the senior administrator or his/her designee of the methodist hospital division of the thomas jefferson university hospitals, inc. Shall be trustees ex-officio, with full privileges and rights as trustees. At all times, a majority of the members of the board of trustees shall be members of the united methodist church, two (2) of whom shall be elected by the eastern pennsylvania conference of the united methodist church. Additionally, under the bylaws, any amendments to the articles of incorporation relating to the purpose of the foundation being to invest and generally administer its assets for the benefit of the methodist hospital division, or any amendments to the bylaws relating to designees of methodist hospital division or of tjuh serving on the board or the nominating committee, shall be subject to the approval of thomas jefferson university hospitals, inc.”

“The organization's federal form 990 was provided to each voting member of the organization's governing body, its board of trustees, prior to filing with the internal revenue service ("irs"). The organization's finance and audit committee ("committee") has assumed the responsibility to oversee and coordinate the federal form 990 preparation, review and filing process. As part of the organization's federal form 990 tax return preparation process the organization hired a professional certified public accounting ("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 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 internal working group for their review. The internal working group 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 internal working group for final review and approval. Thereafter, the form 990 was provided to the organization's independent tax counsel, finance and audit committee and its governing body for review, prior to filing with the irs.”

“The organization has a written conflict of interest policy ("policy") in which trustees are required to disclose interests that could give rise to conflicts on an annual basis. The organization regularly and consistently monitors and enforces compliance with this policy as outlined within the organizations bylaws and included below. Each covered person completes an annual statement disclosing the facts relating to any actual or potential conflict of interest and provides this statement to the chairman of the organizations governing body. The chairman reports the results of the annual disclosure statements to the board at its annual meeting. In addition, if any covered person has a direct or indirect interest in any proposed contract, transaction, or other arrangement involving the foundation or tjuh, the covered person must disclose the interest to the board or committee authorizing the contract, transaction, or other arrangement, and the board or committee shall determine whether the interest constitutes a conflict of interest prior to taking any action. A covered person who has a conflict of interest may answer questions of the board or committee considering the contract, transaction, or other arrangement that involves the conflict. However, after answering questions, the covered person shall leave the meeting during the discussion of the merits of the matter and shall not vote on the matter. The covered person shall be counted in determining the presence of a quorum. The minutes of meetings of the board and committees shall include the following: - the names of all persons who disclosed an interest or were found to have a conflict of interest, the nature of the interest, any action taken to determine whether a conflict of interest existed, and whether the board or committee determined there was a conflict of interest; - the names of the persons who absented themselves from the meeting during discussions and votes relating to the matter; - the content of any discussion relating to the matter, including any alternatives; and - a record of the vote on the proposed contract, transaction, or other arrangement. Copies of any reports, appraisals, or other written data presented at the meeting to analyze the conflict of interest or to vote on the matter shall be filed with the minutes. The minutes shall be prepared before the later of the next meeting of the board or applicable committee or 60 days after the final action is taken by the board or committee. The board or applicable committee shall review the minutes within a reasonable period of time after their preparation.”

“The organization does not compensate any officer, director, trustee, or key employee listed within core form, part vii.”

“The organization's filed certificate of incorporation and any amendments can be obtained and reviewed through the commonwealth of pennsylvania. To the extent required by applicable law, the organization makes its governing documents available to the public upon request.”

“An independent certified public accounting ("cpa") firm audited the financial statements of the organization for the fiscal years ended june 30, 2019 and june 30, 2018; respectively. An unmodified opinion was issued each year by the independent cpa firm. The organization's finance and audit committee has assumed responsibility for the oversight of the audit of the financial statements, which includes the selection of an independent auditor.”

“Description:professional fees total fees:24000”

“Description:outside services total fees:43910”