Sanford

“The following officers, board members, and key employees are employees of sanford or its related organizations. Many of these employees also serve on other related sanford boards, or have business relationships with each other that span the organization as a whole: mark lundeen, michael lebeau, bill gassen, jennifer grennan, todd schaffer, michelle bruhn, paul hanson, karka eischens, tiffany lawrence, matt hocks and bill marlette.”

“The form 990 is prepared internally by the tax department and reviewed by executive management. The tax department prepares return highlights and key disclosures for the executive management team. An external accounting firm reviews and signs the return. Before the return is filed, a complete copy is provided to the current board of trustees.”

“The annual conflict of interest disclosure process is managed by the chief compliance officer (cco). The cco is responsible for assuring that all completed forms are returned in a timely and complete manner. Conflict of interest questionnaires are sent to system trustees, members of the governing boards of subsidiary entities, officers, and key employees for all entities subject to the irs form 990 filings. The disclosures are summarized for review by the executive committee of the board of trustees, pursuant to policy. This review allows: 1) the board to acquire an awareness of financial relationships of board members and key management employees and can invoke the recusal process on a case-by-case basis if potential conflicts are implicated in board decisions and deliberations, and, 2) gives the board the opportunity to seek additional information and clarification about disclosures to determine potential conflicts of interest, and how to manage such.”

“Sanford has a process for determining compensation of the persons listed on part vii, section a. This includes a review and approval by independent persons, review of comparability data and contemporaneous substantiation of the deliberation and decision for such compensation. Sanford engages a nationally recognized independent compensation consulting firm annually to review the total compensation arrangements of the ceo, and to report the findings to them for deliberation and action. The deliberations and actions are recorded in the minutes of the sanford board of trustees. The most recent study was completed in 2023.”

“Although the organization does not maintain a website where the public can access these documents, it would respond individually to any requests or inquiries from the public for these documents.”

“Although sanford reported payments to 24 different independent contractors of over $100,000, no 1099s were reported on part v, line 1a. The reason for this is because all forms for 2023 were reported under sanford health (ein 31-1527032).”

“Pursuant to treasury reg section 1.6033-2(d)(5), sanford has elected to report information about contributions, gifts & grants, compensation, and other information about officers, directors, trustees, key employees, former employees, certain other highly paid employees, certain professional contractors, and certain other contractors on a consolidated basis for all of the members of the group, including the parent organization, on the group return, sanford group return, ein 45-3791176.”

“Consulting services: program service expenses 0. Management and general expenses 13,926,167. Fundraising expenses 0. Total expenses 13,926,167. Purchased services: program service expenses 0. Management and general expenses 907,696. Fundraising expenses 0. Total expenses 907,696.”

“Cash sweep from affiliated companies for pooled investments 284,347,960. Payroll and other expenses for related tax exempt entities 18,380,021.”