Ashtabula County Medical Center Foundation

“The cleveland clinic foundation holds and exercises a management agreement with the acmc healthcare system.”

“Ashtabula county medical center (acmc) is the sole member of the foundation. Acmc approves any changes to governance and the appointing of foundation trustees.”

“See form 990, part vi, section a, line 6 explanation”

“See form 990, part vi, section a, line 6 explanation”

“The form 990 report is published to the foundation's sole member, ashtabula county medical center, board of directors' website.”

“Each trustee, principal officer, member of a committee with board-delegated powers, and key employee shall annually sign a statement, which affirms that such person has received a copy of the conflicts of interest policy, has read and understands the policy, has agreed to comply with the policy, and understands that the corporation is a charitable organization and that in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes. If a person covered by the conflict of interest policy believes he or she has a potential conflict of interest, that person is to disclose the conflict to the board. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he or she shall leave the board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. The disclosing person may make a presentation regarding the proposed transaction/potential conflict of interest at the board or committee meeting, but after such presentation, he or she shall leave the meeting during the discussion of, and the vote on, the proposed transaction or arrangement that results in the conflict of interest. The chairperson of the board or committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the board or committee shall determine whether the corporation can obtain a more advantageous transaction or arrangement with reasonable efforts from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably attainable under circumstances that would not give rise to a conflict of interest, the board or committee shall determine by a majority vote of the disinterested trustees whether the transaction or arrangement is in the corporation's best interest and for its own benefit and whether the transaction is fair and reasonable to the corporation and shall make its decision as to whether to enter into the transaction or arrangement in conformity with such determination. If the board or committee has reasonable cause to believe that a member has failed to disclose actual or possible conflicts of interest, it shall inform the member of the basis for such belief and afford the member an opportunity to explain the alleged failure to disclose. If, after hearing the response of the member and making such further investigation as may be warranted in the circumstances, the board or committee determines that the member has in fact failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action.”

“No compensation is paid by acmc foundation. For related tax-exempt organizations, salaries are reviewed approximately every two years. Salaries are compared to local, regional, and national market rates and in conjunction with the ceo and cfo of ashtabula county medical center to determine compensation.”

“All requests are sent to the ceo for distribution.”