Knox Community Hospital

“The community hospital has entered into an independent contract agreement with ovation healthcare to provide management services under the direction, control, and authority of the hospital's board of trustees. In 2024, ovation healthcare was paid $2,070,874. Of this amount $1,124,096 relates to compensation listed in 990 part vii and schedule j, part ii for the ceo, cfo (partial year 1/1/24 to 06/30/24), and coo's compensation.”

“The process of reviewing the form 990 entails a detailed review by the organization's accounting department and audit and compliance committee. The full governing body is presented a copy of the form 990 including requested schedules prior to filing with the irs.”

“All members are required to read and sign an annual conflict of interest statement which educates them on their responsibility to declare potential and seeming conflicts of interest. The statements are presented to and reviewed by the board executive committee. This is important because the membership composition of the executive committee consists of the chair of each committee of the board. That way, each committee chair is aware of the disclosed conflicts and potential conflicts of interest for the members who serve on their committee. Chairs are aware that any and all potential conflicts of interest which may come into play during any board activity and any board committee work should be identified and declared to the group. The member with the conflict may be asked to recuse themselves from any vote, discussion, or attendance at a meeting regarding the matter.”

“The executive committee of knox community hospital is the compensation committee/arm of the governing body. Ovation healthcare provides the national perspective; using their surveys, ranges are established for the ceo and other officers and key employees. The executive committee makes the proposal for the full board to approve. The executive committee is comprised of trustees determined to be independent according to the board policy. Paid physician board members are not independent directors and are excluded from the executive committee of the board.”

“The governing documents, conflict of interest policy, and financial statements are made available to the public upon request.”

“Change in interest in knox community hospital foundation loss on affiliate dissolution change kch foundation invest-othr i 245,126.”

“The audit committee assumes responsibility for oversight of the audit of the financial statements and no processes have changed from prior year.”