Grace Hospital

“The executive committee of the board of directors consists of the officers of the board and up to two other directors. The executive committee has the power to transact all regular business of the organization during the period between meetings of the board of directors. The executive committee may initiate long-range planning activities; improvements to facilities and equipment; community relations programs; and day-to-day operational adjustments as it deems necessary. The executive committee makes recommendations of persons to stand for election as elected directors. The executive committee may make recommendations for revisions to the code of regulations. All actions of the executive committee are reported at the next regular meeting of the board of directors.”

“The sole member of grace hospital is the grace foundation for health, wellness & education.”

“The board of directors of grace hospital consists of the individuals elected to the board of directors of the grace foundation for health, wellness & education, the sole member.”

“The following actions require approval of the sole member: (a) amendment or restatement of the articles or code of regulations; (b) merger, consolidation, reorganization or dissolution; (c) sale, lease, disposition, pledge, gift or encumbrance of any interest in real or personal property, except in accordance with the established policies for such matters approved from time to time in advance by the member; (d) aggregate borrowing for any one year period in excess of $250,000; (e) the formulation of an initial or any change in any subsequent, formal or informal statement of grace hospital's purposes or objectives; (f) the approval or adoption of the annual and any special operating and capital budgets; (g) any expenditure of a nature that was not anticipated or reflected in a budget approved in advance of such expenditure by the member and any expenditure that either singly or when aggregated with all other similar amounts throughout the fiscal year exceeds 10 percent of the amount budgeted for such expenditure or class of expenditures pursuant to a budget approved in advance of such expenditure by the member; (h) any expenditure of the principal of or income from any fund or funds in any manner that is inconsistent with any restrictions imposed on such fund or funds by donors, by the member, or by the board of directors; (i) any arrangement or the termination of any such arrangement with any bank, trust company, brokerage firm, investment advisor or similar institution to manage the assets and investment of the assets of grace hospital; and (j) the appointment of an independence auditor.”

“The hospital contracted with an outside accounting firm for the preparation of the form 990. The hospital provided material based on requests from the accounting firm. Most of the information was provided by the director of finance. The final form was reviewed by the director of finance and the ceo. A copy of the form 990 was provided to the board of trustees.”

“The organization's conflict of interest policy applices to directors, officers, employees, agents, volunteers, and any medical staff members with administrative responsibilities. Any individual who has an interest, direct or indirect, in a contract or other transaction that is presented to the board of directors or a committee thereof, is required to give prompt, full and frank disclosure of their interest prior to the body's acting on such contract or transaction. The contract or transaction will be authorized, approved or ratified only upon a favorable vote of at least two-thirds of directors present. The interested person may not vote on, use their personal influence on, nor participate (other than to present factual information or to respond to questions) in the discussions regarding the contract or transaction. The board members completed conflict of interest statements in october 2015.”

“The compensation of the organization's ceo is determined by the board of directors. The ceo receives salary comparability information from modern healthcare and cleveland magazine. Since grace is a small hospital, the salaries in effect at grace are always below the other hospitals in the area. Salary adjustments are received when the hospital provides a cost of living adjustment to all staff or when there is a change in the employee's responsibilities.”

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

“Grace fairview closed on august 7, 2015, and grace lakewood closed on february 3, 2016.”

“Medical services: program service expenses 3,911,913. Total expenses 3,911,913. Other fees: management and general expenses 921,125. Total expenses 921,125.”

“Change in value of beneficial interest in perpetual trusts 141,501.”

“The organization has not changed its oversight or the selection process during the tax year.”