St Vincent Charity Development Foundation

“The organization has one corporate member: st. Vincent charity medical center”

“The organization's member may elect members of the governing body.”

“Certain decisions of the governing body, such as approval of budgets, capital expenditures, liquidation, merger or dissolution of assets, and the modification of the articles of incorporation and code of regulations, must be approved by the board of the member organization.”

“After form 990 is reviewed internally, it is submitted for review to our tax auditor. They review for completeness and communicate any concerns that they identify within the documents and worksheets of the tax return. Items identified are reviewed by staff and any needed corrections are made. The return is then provided to the foundation president for review and approval. It is then made available to all board members with adequate time given for review before filing with the irs.”

“St. Vincent charity development foundation (the foundation) initiated operations in 2010. As an organization established exclusively for the support and benefit of st. Vincent charity medical center, the foundation adheres to the administrative policies of st. Vincent charity medical center, including, but not limited to: corporate compliance policies; disclosure of conflicts of interest; document retention and destruction; human resources; as well as financial management and reporting.”

“The foundation adheres to the administrative policies and procedures of st. Vincent charity medical center and follows their annual compensation review by an external source which is then reviewed by the board for approval.”

“Form 990 and form 1023 are available to the public upon request at st. Vincent charity medical center and financial service center locations.”

“Governing documents, the financial statements, and the conflict of interest policy are available to the public upon request at st. Vincent charity medical center and financial service center locations.”

“There are individuals that are being paid by the related organization (sisters of charity health system, schs) that work both at the organization and at the related organization or its affiliates.”

“The st. Vincent charity development foundation replaced its biannual pizzazz gala with caritas, a new event designed to celebrate the medical center, its place in cleveland and its impact on the health of the city and its residents. While still an event designed to raise philanthropic support, it was also a night of entertainment and awards that honored the leaders and special programs that make st. Vincent charity medical center so special. The event generated approximately $469,000 from 450 guests and also publicly announced a growing collaboration between two anchors in cleveland's campus district, st. Vincent charity medical center and cleveland state university. In addition we honored four outstanding leaders: *st. Vincent depaul award: margaret wong *physician of the year: dr. Lloyd cook *excellence in clinical nursing award: mary martin, rn *radiant spirit award: eugene jordan”

“Present Value Reduction of Long Term Pledge -98,367. Asset Transfer to SVCMC -542,398. Market Increase of Endowment Proceeds net of Administrative Fees 42,779.”

“St. Vincent charity development foundation's financial statements are consolidated with st. Vincent charity medical center. St. Vincent charity medical center has an audit committee that has been charged with oversight of the audit and selection of the independent accounting firm. The process has not changed from the prior year.”