Heritage Valley Beaver Foundation

“Donald flick, board director of heritage valley beaver foundation, is spouse of shirley flick, board director ex-officio of heritage valley beaver foundation.”

“Heritage valley health system is the sole member of heritage valley beaver foundation. The system has the right to participate in selected management decisions.”

“The sole member, heritage valley health system, appoints the members of the governing body.”

“The sole member of valley medical facilities, heritage valley health system, acting by and through its board of directors have exclusive power to: 1. Approve heritage valley beaver foundation's annual operating and capital budgets; 2. Amend or approve amendments to heritage valley beaver foundation's articles of incorporation or bylaws; 3. Approve borrowings or extensions of credit of $1 million or greater; 4. Approve any voluntary dissolution, merger or consolidation of heritage valley beaver foundation; 5. Approve the sale, pledging, leasing or transfer of assets in excess of $1 million; 6. Approve the creation or acquisition of any subsidiary or affiliate; 7. Select heritage valley beaver foundation's accountants; 8. Approve investment policies; 9. Approve policies and procedures adopted by the heritage valley beaver foundation board of directors, including policies relating to the distribution of heritage valley beaver foundation's endowment; 10. Authorize any and all unbudgeted expenditures and distributions from the funds of heritage valley beaver foundation; 11. Appoint the members of the board of directors of heritage valley beaver foundation, with the right to remove the appointed directors, with or without cause; and 12. Appoint and remove the president.”

“A draft of the completed form 990 and all associated forms is made available electronically to all board directors, members and senior management for review and comment prior to filing with the internal revenue service (irs). The board of directors has delegated the responsibility for review and approval of the form 990 to the finance committee of the board, which meets, reviews, and approves the form 990 prior to filing.”

“Certain non-merit employees with job responsibilities that provide an opportunity to influence business decisions are required to sign the conflict of interest form annually. These conflict of interest statements are reviewed annually by the department director and system director for corporate compliance to determine if a conflict exists. Any potential conflicts are referred to the appropriate vice president and human resources to confirm and resolve the conflict. For merit employees, conflict of interest statements are reviewed annually by the department manager, vice president or ceo. Any potential conflicts are managed by the ceo. Other potentially interested parties, such as board members, officers and highly compensated employees sign a statement annually which affirms such person has received a copy of the conflict of interest policy, has read and understands the policy, has agreed to comply with the policy, and understands that the organization is a charitable organization and that in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax exempt purposes. The chairperson of the board reviews annually a summary of the disclosure statements so that the board members are familiar with potential conflicts.”

“Heritage valley health system's board of directors has appointed an executive compensation committee to review the salaries for the organization's ceo and other senior management officials. As part of the review, the executive compensation committee engaged an outside consulting firm to review the base salaries of the senior management team including the ceo in comparison to the market to ensure reasonableness of compensation. While there were no adjustments to the base salaries of the senior management team for this review period, bonuses were paid in accordance with an incentive compensation plan that was developed and approved by the board of directors several years ago.”

“Form 990 is available upon request.”

“The organization publishes condensed financial statements for the public use on its website www.heritagevalley.org. Governing documents and policies, including conflicts of interest statements, are made available upon request.”

“Gifts in kind not included on the audited financial statements -1,250. Fundraising refund not on financial statements until next year -659.”

“The organization has a committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant.”