Lourdes Cardiology Services PC

“Alan pope is the sole shareholder. The sole shareholder in accordance with the bylaws may not transfer, pledge, sell or otherwise dispose of any shares of the entity without the prior written consent of virtua health, inc. (indirectly through our lady of lourdes health care services, inc.)”

“The sole shareholder, in his capacity as shareholder of the entity, will give virtua health, inc. (indirectly through our lady of lourdes health care services, inc.) written advance notice of his/her intended action for the election and appointment of directors and will not vote on such election or appointment of directors until he/she receives advance direction from virtua health, inc. And will vote in the manner specified in the direction from virtua health, inc.”

“As sole member, our lady of lourdes health care services must approve certain decisions of the governing body, including the strategic plan and annual operating budget. Our lady of lourdes health care services must also approve significant changes such as merger, dissolution, sale of assets in excess of certain limits, and modifications to governing documents.”

“The form 990 is reviewed by in-house counsel, external tax consultants, and the board of trustees. A final copy of form 990 is provided to the board prior to filing.”

“In connection with the coordinated approach of the entities as a health care system, all account payable transactions are conducted by virtua-west jersey health system, inc. (21-0634532).”

“Lourdes cardiology services adopts the policies of virtua health, inc. Regarding monitoring and enforcing a conflict-of-interest policy. Lourdes cardiology services requires each trustee, officer, key employee and member of a committee with board-delegated powers to annually sign a statement in which they agree to comply with the conflict-of-interest policy. The board of trustees is responsible for ensuring that periodic reviews of operations are conducted so that the organization operates in a manner consistent with its charitable purposes and does not engage in activities that could jeopardize its status as an organization exempt from federal income tax. In connection with any actual or possible conflict of interest, an interested person must disclose the existence of his or her financial interest and must be given the opportunity to disclose all material facts to the trustees and members of committees with board-delegated powers considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after a discussion with the interested person, he/she shall leave the board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining trustees or committee members shall decide if a conflict of interest exists. If it is determined that one does exists, the conflict is either mitigated, if possible, or the person is removed from the board.”

“Lourdes cardiology services does compensate some of its executives; but some of the executives receive compensation from virtua health, inc. (ein 22-3524939) and virtua our lady of lourdes hospital, inc. (ein 21-0635001), related entities. See schedule j, part iii (reference to schedule j, part i, line 3) for a description of the manner in which virtua health, inc. Utilizes to determine the compensation paid to executives.”

“Virtua complies with legal requirements relative to making available its governing documents and conflict of interest policy. Financial statements are posted on the virtua health website at https://www.virtua.org/about/financial-information and also are available through the repository websites emma (electronic municpal market access system) and dac (digital assurance certification), or upon request.”

“One or more of the officers, directors, and trustees in the filing organization's part vii had transactions related to the "collateral assignment split dollar" (casd) program offered by virtua health. All transactions related to this program were between the individual and virtua health, inc. Ein 22-3524939. Therefore, all part x and schedule l reporting related to these transactions are reported on virtua health's return.”

“Lourdes cardiology service's officer is compensated by virtua health, inc. (ein 22-3524939), a related organization. This officer devoted 40 hours a week to virtua health, inc. The amount of time devoted to related organizations is dependent upon his involvement in those organizations. As a result, the total average hours per week may vary.”

“No board member is paid for being a trusteee, rather the compensation disclosed is related to the individuals' provision of employment services to the filing organization or a related organization.”

“Trustee and officer changes john m. Matsinger was listed as an officer in 2023. He did not serve as an officer of lcs in 2024. He will be reported as "former" on form 990 for the required five-year disclosure period. Key employee designation prior to 2023, lcs identified key employees for form 990 reporting based on a system-wide (global health system) perspective rather than on an entity-specific basis. As a result, certain individuals were reported as key employees across multiple form 990 filings. To better align with irs form 990 instructions, lcs revised its methodology in 2023 and now determines key employee status on an entity-by-entity basis, based on the entity employing the individual. Only those who meet the criteria as key employees for lcs are now disclosed in part vii. Former key employees will continue to be reported on the appropriate form 990s for the required five-year period. Alan pope was reported as a key employee in tax year 2022.”

“Net asset transfers from wjhs 13,507,129. Net asset transfers from virtua 1,440,716. Net asset transfers to vlh -34,290. Net asset transfers to vmg -14,910,018.”