Wilkes Physician Network Inc

“On july 1, 2017, the town of wilkesboro entered into a long-term lease agreement with wake forest university baptist medical center, d/b/a wake forest baptist health ("wfbh") and wrmc hospital operating corporation ("wrmc"). The agreement initiated a long-term lease of all of the assets and property used in the operation of wrmc and the filing organization (wrmc's controlled affiliate). The agreement also initiated a reorganization of wrmc such that wfbh became the sole member of wrmc, and wrmc became a controlled affiliate of wfbh. This long term lease agreement ended the prior management services agreement with charlotte mecklenburg hospital authority, also known as carolinas healthcare system ("chs"), d/b/a atrium health.”

“Pursuant to a plan of dissolution, the filing organization was liquidated and dissolved. Net assets and liabilities were distributed to wrmc hospital operating corporation, its sole member. Articles of dissolution were filed with the north carolina secretary of state on june 27, 2018 and were effective june 30, 2018.”

“The sole member of the organization was wrmc hospital operating corporation, a north carolina 501(c)(3) organization.”

“The sole member of the organization shall have the right at all times, with respect to the organization, to elect and remove the trustees, as provided in the organization's bylaws.”

“The filing organization's board of directors receive a copy of the form 990 with sufficient time to permit review, comment, and pose questions prior to its filing. If modifications are required following such review and comment, the revised form 990 is redistributed to all board members prior to its filing with the irs, along with a report noting the modifications.”

“On an annual basis (and as they arise), all directors and officers of the filing organization are asked to review the applicable conflicts of interest policy and to describe any potential conflicts of interest they may have. Upon completion of the conflicts of interest survey, the legal department reviews the completed questionnaires on behalf of the filing organization. Any conflicts identified are communicated to the filing organization's chairman of the board and are presented to the medical center governance and compensation committee. All conflicts of interest are resolved by management plans developed by the medical center governance and compensation committee and the internal audit and compliance offices. The medical center governance and compensation committee's chair presents an annual report on conflicts to the full board of the filing organization.”

“The filing organization is an integral part of wake forest baptist health, a preeminent, internationally recognized academic medical center of the highest quality with balanced excellence in patient care, research and education. The filing organization pays no compensation to officers, directors and key employees. All compensation paid to officers, directors and key employees was paid by a related organization, wake forest university baptist medical center, an entity within the wake forest baptist health legal structure. Compensation paid to these individuals are reviewed and approved in accordance with the related organization's compensation policies and procedures which include independent compensation consultants, compensation surveys and studies to determine the appropriateness of each officer's and director's compensation.”

“The organization's articles of incorporation are available to the public on request and are available on the website of the north carolina secretary of state. The organization's bylaws are not published, but provisions from the bylaws are included as necessary in the organization's policies, and are attached to the form 1023 filed for the organization with the irs, which is publicly available. The conflict of interest policy and financial statements are not available to the public.”

“On july 1, 2017, the organization's operations were acquired by wake forest university health sciences, an affiliate of wake forest baptist health. As a result, wpn had no patient visits for fiscal year ended june 30, 2018. Wpn wound up its affairs, liquidated, and filed articles of dissolution effective june 30, 2018.”

“Equity transfer 20,663,808.”

“The organization, as a controlled affiliate of wake forest university baptist medical center, follows policy and procedure of wake forest baptist health with regards to oversight of financial statement responsibility, delegation, and selection of independent auditors.”