Heritage Valley Health System Inc.

“Vmf qualifies as a tax-exempt organization under section 501 (c) (3) of the internal revenue code (the "code") and, therefore, is exempt from income tax on related income pursuant to section 501 (a) of the code. Vmf does not have any material uncertain positions as of june 30, 2017 and 2016.”

“Restricted temp 285,421. Investment income 1,805. State of pa disaster 30,491. Inst review board 1,000. Difference restricted on net/gain sale of investments 35,708. Rounding 1.”

“Board designated assets are unrestricted funds under the control of the board of directors. The majority of these funds are held in the master trust. The remaining funds are in the checking and money market accounts. All interest, realized gains/losses, and unrealized gains/losses associated with these funds remain as board designated funds. Donor restricted specific purpose funds are composed of both temporary and permanently restricted funds. All funds earn interest, realized gains/losses, and unrealized gains/losses. Interest can be restricted by the donor, in which case it remains in the fund. The donor determines the interest classification at the time of the donation. The majority of the funds are held in the master trust with the remainder being in the checking account or money market accounts. Funds held by heritage valley sewickley foundation: cardiology fund -restricted for cardiology/cardiac rehab but otherwise unrestricted. Chaplain fund - restricted to use for the chaplaincy program but otherwise unrestricted. Critical care fund - restricted to critical care but otherwise unrestricted. Capital project fund - to be used to fund purchases of items designated through approved heritage valley sewickley capital budget. Emergency department fund - for emergency department use to benefit children at medical director's discretion and for funding emergency department program & equipment needs. Equipment fund - restricted for equipment purchases. Irwin s. Terner memorial eye glass fund - restricted to purchase of eyeglasses for those that are unable to pay. Referrals to access this fund must be sent to case management of hvs for evaluation of patient's needs. Opthalmologists on staff provide glasses at cost. Eye surgery equipment fund - equipment needs of eye department. Faith in action fund - established in 2014 from proceeds of annual sewickley 5k run/walk. Restricted proceeds beenfit the faith in action program at heritage valley sewickley and sewickley ymca, which provides seniors in the community with rides to doctor appointments and medical treatments. Free care fund (charity care) - to pay for prescription drugs for qualified needy patients to a maximum of $5,000 per year; and to pay for services for qualified needy as assessed by case management. (currently transferring 10% per year for hvs charity care.) thomas r. Havrilla school of radiology scholarship fund - established by brighton radiology associates in memory of their friend and colleague to encourage individuals to pursue careers in radiology & employment at vmf and affiliates. Income earned will be used annually to provide financial assistance to the top academic student completing their 1st year of training to assist them with 2nd year tuition costs. Maternal and infant child care fund - restricted for use of maternity and infant child care but otherwise unrestricted. E. Thorne mckallip professional nursing development fund - restricted fund income earned to benefit members of hvs nursing staff in their professional development, excluding formal education preparation: * inital nursing certification fee * nursing recertification continuing education credits * fees for local continuing education * out-of-state continuing education (fees, transportation, accomodations) * in-house education. Medical staff scholarship fund - established in 2013. To award annual college schoarships to local residents pursuing a healthcare education. Oncology fund - restricted for use for inpatient oncology services otherwise unrestricted. Or/lab - restricted endowment. Restricted to use for the benefit of the operating rooms and the laboratory, but otherwise unrestricted. Nursing education fund - restricted to use to support the continuing educational and career development needs of nurses at the heritage valley health system, inc. And for student nurses completing educational rotations throughout the heritage valley health system, inc. But otherwise unrestricted. Dr. Sidney sel”

“Permanently restricted endowments - established for rochester general hospital (predecessor hospital) to be used for the construction of new buildings, rehabilitation of existing facilities, provide for special equipment and services, and such other purposes as the donor shall from time to time designate. Lida mchattie - permanently restricted endowments - heritage valley beaver foundation receives 1/6th share of the net income per quarter. Arthur e. Mayer - permanently restricted endowments - established in 1964. Income is unrestricted. Martha brown - permanently restricted endowments - established in 1973. Terminated by beneficiaries agreement in 2015. Mayer society (oncology) - permanently restricted endowments - cash gift to heritage valley beaver foundation's endowment by murray & cecyl thaw. In honor of their children - deborah and robert. Income is restricted to oncology. Funds held by vmf faciliites under control of heritage valley sewickley foundation. Edith oliver rea fund - principal & income to be used by the president in his discretion for such purposes, as to help deserving individuals in need of financial assistance. Craig family memorial fund - restricted endowment. Income only to be used for staunton clinic. The medical director of the clinic shall propose the use of such funds, and their expenditure will be made in accordance with the usual practices of hvs. William k. Fitch memorial fund - restricted endowment. Annual interest income to be used to encourage, stimulate and aid the governing board of hvs to maintain a position of being ever alert to changing opportunities for contributing to the health of the community served by hvs. Martha j. O'rourke school of nursing scholarship fund - restricted endowment. Income only to be used to provide financial assistance to a student of hvs school of nursing. Van kleeck blood bank memorial - restricted endowment. Income earned by the fund to benefit hvs blood bank by authorization of the president. Interest & principal invested with interest earnings reinvested until needed. Principle shall not be expended; however, should some extraordinary need arise in connection with the operation of the blood bank, it is understood that the hospital's board may authorize the expenditure of the principle to meet that need. The following funds are related to the heritage valley sewickley foundation, but are under the control of various organizations. Hvs has been the recipient of various trusts: 1. Pooled income fund (pnc bank) 2. Martha lockhart amson trust (bny mellon) 3. Martha lockhart mason trust (pnc bank) 4. Blair e. Bell trust (bny mellon). For the pooled income fund (1), upon the death of the donors, the heritage valley sewickley foundation will become the sole beneficiary of the principal balance. The pooled income fund principal is under the control of vmf in that the hospital can determine where to invest the money. The three remaining trust, the mason (2&3) and bell (4) trusts, are irrevocable trusts. The heritage valley sewickley foundation is a partial beneficiary of the income distributions from these trusts. These trusts are not under the control of any entity within the valley medical facilities system. The income distributions from these trusts are recorded as unrestricted income.”