Southern Ohio Medical Center

“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. We monitor compliance through the annual conflict of interest survey process. It makes the conflict known so somc can ensure the conflict is not a compliance problem. When conflicts arise we use the rebuttable presumption of reasonableness process to address the conflict.”

“On an annual basis, an independent consultant, gallagher/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 uses both national and regional executive compensation surveys for comparable data to determine executive compensation recommendations. The executive compensation committee reviews and deliberates the independent consultant's recommendations and through contemporaneous substantiation, reaches a decision that is both market competitive and reasonable. The decisions for ceo and executives 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. The process was last undertaken during 2023.”

“Southern ohio medical center provides its financial statements to the public through the filing of its form 990 as well as its bond disclosure. Governing documents and the conflict of interest policy are made available to the public on southern ohio medical center's website.”

“Doing business as: somc cancer center, somc home health services, somc l.i.f.e. Center, somc family health center, somc hospice center, somc wound healing center.”

“Somc employees, physicians and medical students give back to the community through internal donation campaigns, such as the "make a difference" campaign. Employees can also give back through somc's "pay it forward" program, where social workers identify patient needs and employees can directly donate items to provide assistance. Many members of the community also volunteer at somc, serving as community ambassadors. Volunteers offer a friendly smile and comforting words to patients and family members, while also assisting within many areas of the hospital. Somc's team of volunteers makes a difference not only in the unpaid hours they provide, but also in their efforts to raise funds to purchase medical equipment, assist with patient needs and provide various community services to aid in making a difference. With the communities and somc working so closely together, somc can proudly say it is able to obtain its goal of "making a difference."”

“Change in actuarial value of pension -957,600. Change in actuarial cost 1,499,800. Intercompany transfers -56,026,782.”

“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.”