Southern Ohio Medical Center

“Somc development foundation is organized as a subsidiary of southern ohio medical center, the parent organization and sole voting member for the consolidated group.”

“The somc development foundation's board of directors are elected by southern ohio medical center's board of directors.”

“Somc development foundation's decisions that are made by their board of directors can be overruled by southern ohio medical center's board of directors.”

“Form 990 information is compiled in the accounting department then sent to the independent tax accountants to analyze the information and complete the tax return. The final form is then reviewed by financial staff, tied out to the trial balance, and e-mailed to the board. In addition, the cfo presents form 990 to the board executive compensation committee before filing with the irs.”

“Conflict of interest statements are filled out annually in january for officers and for new and returning board members. Completed conflict of interest statements are reviewed by the audit & compliance committee. Any conflicts are documented in the minutes and addressed. Conflicts of interest are raised by officers or board members once they are known by the individual. Board members abstain from voting if a conflict is identified that the board member is involved with during the fiscal year.”

“Compensation review is completed by a related organization, southern ohio medical center. On an annual basis, an independent consultant, integrated healthcare strategies (ihs), provides the board compensation committee with comparable data and other facts which are used by the committee to determine executive pay philosophy. The independent consultant used compensation surveys of the surrounding area to determine executive compensation recommendations. The decisions for ceo and officer compensation are documented in the board compensation committee minutes, as well as the board meeting minutes. This committee determines the ceo's pay and sets pay ranges for the other executives. This process was last undertaken during 2016.”

“Somc development foundation provides its financial statements to the public through its bond disclosure. Governing documents and the conflict of interest policy are made available to the public on southern ohio medical center's website.”

“ALLOCATED WAGES: Program service expenses 114,087. Management and general expenses 0. Fundraising expenses 0. Total expenses 114,087. PURCHASED SERVICES: Program service expenses 0. Management and general expenses 0. Fundraising expenses 64,968. Total expenses 64,968. ALLOCATED BENEFITS: Program service expenses 42,389. Management and general expenses 0. Fundraising expenses 0. Total expenses 42,389.”

“Other Changes to Unrestricted Assets -96,579. RECLASS INTO TEMP. RESTRICTED 529,934.”

“The organization has a committee responsible for oversight of the audit and selection of an independent accountant. The process has not changed from the prior year.”

“Doing business as: hope guild, coterie guild, pediatric guild, pleasure guild, kardia guild, service guild, and scioto guild.”