Chblt Subsidiary Co

“Officer relationships: william strimbu and kenneth james have a business relationship.”

“Significant changes in the governing documents: the following significant changes were made to the organization's bylaws during the year: composition of the board: the board shall consist of no less than one and no more than twelve directors who shall be elected to serve for three years.”

“Members: the sole member of the organization is christian h. Buhl legacy trust, previously known as sharon regional health services. According to the organization's bylaws, the board must obtain the approval of sharon regional health services before action on any of the following matters becomes final and effective: 1) amendment of the articles of incorporation of this corporation or of the bylaws; (2) the sale, lease, or exchange of all or substantially all the property or assets of this corporation; (3) merger or consolidation with any other corporation; (4) dissolution of this corporation; (5) approval of an annual budget for this corporation; (6) any transfer of funds by grant, gift, or loan from this corporation; (7) any other matter that by law would require the approval of members of a pennsylvania nonprofit corporation.”

“Review of form 990: the form 990 is prepared by independent tax advisors with information supplied by the chief financial officer, director of finance and other financial managers, and legal counsel. The prepared 990 is submitted for internal review before filing. Additionally, the board was provided a copy of the 990 prior to filing.”

“Conflict of interest policy: the board of directors of chblt subsidiary co., previously known as sharon regional physicians services, maintains a written policy defining conflict of interests of its directors and officers. All new directors and officers are oriented to this policy. Annually, the officers and the members of the board of directors receive a copy of the policies and each director and officer completes a conflict of interest questionnaire. The chairman of the board of directors reviews all responses, consults with legal counsel, and provides the questionnaires to sharon regional's auditors. The chairman considers committee membership and recusal from discussion and votes in light of potential conflicts and board members routinely voluntarily recuse themselves even if the conflict is only perceived.”

“Compensation review: the organization's ceo is compensated by christian h. Buhl legacy trust, previously known as sharon regional health system (srhs), a related organization. The compensation committee of the board of directors of srhs reviews and recommends the compensation of the officers and the board of directors approves these recommendations annually. The compensation committee is composed of members who have no interest with the officers. The compensation committee retains an independent consultant to review market data and establish compensation ranges for each officer in comparison with similar executive positions at similarly sized hospitals and health systems. The compensation committee annually reviews the performance of the chief executive officer and accepts the performance reviews conducted by the chief executive officer of the other officers. The medical group management association (mgma) comparisons are used for benchmarking the physician salaries.”

“Document disclosure: all documents of the organization are distributed upon request, as required by law.”

“Significant changes in program services: sharon regional physician services, now known as chblt subsidiary co., sold substantially all of its assets to sharon pennsylvania holdings, llc, a community health systems affiliate, on april 1, 2014 as part of a system-wide sale. The seller is now known as chblt subsidiary co., with the buyer having acquired the right to operate under the name sharon regional physician services. The transaction was strictly an asset sale; there was no merger and is no successor.”

“Program service activity #1: the organization provides health care services under a formal charity care policy that assists patients who are financially unable to pay their medical bills. During fiscal year 2014, sharon regional physician services granted $88,659 in charity care to indigent patients.”

“Other program services: in addition to the three largest program services, the organization provides ob/gyn, general surgery, vascular surgery, otolaryngology/allergy, endocrinology, pulmonary/critical care medicine, gastroenterology and cardiothoracic surgery. During fiscal year 2014, a total of 55,687 outpatients received patient care.”

“Other changes in net assets: removal of due to affiliate amount $75,958,447* *as part of the sale on 4/1/14, the organization removed the amounts due to christian h buhl legacy trust, formerly known as sharon regional health system. This has no impact on the income or expenses of either entity.”