Kewanee Hospital

“The organization does not have any committees with authority to act on behalf of the governing body.”

“The form 990 for the six-month period ended march 31, 2014 will be reviewed and approved by the cfo and ceo and then it will be sent to osf (whom this organization merged with effective on april 1, 2014) for their final review and approval. At this time, the former bod is no longer fiducially responsible for the form 990.”

“Any interested person who has a personal or private interest in a measure, contract, resolution, or other transaction presented to the board or a committee thereof for deliberation, authorization, approval, or ratification, or any interested person who reasonably believes such an interest exists in another person, shall make a prompt, full, and frank disclosure in writing of the personal or private interest to the board or committee prior to its acting on such contract or transaction. The interested person shall disclose the existence of his or her personal or private interest and all material facts, known to him or her about the personal or private interest and potential conflict of interest.”

“The executive committee of the hospital board of trustees acts as the compensation committee for kewanee hospital. Annually the executive committee of the board meets to review and approve compensation for the executive team which includes the chief executive officer, chief financial officer and chief nursing officer. Resource data for this review comes from salary surveys from a number of sources including sullivan cotter, central illinois society for healthcare human resource administration (cishra), iha executive and management salary survey, and a 990 review through guidestar.org of local and regional organizations. The surveys are analyzed by reviewing applicable cuts of the survey including critical access hospitals, hospitals with like revenue, and similarly staffed organizations. Surveys are also reviewed at regional and national levels. Compensation is proposed to the committee taking into consideration the median range of all salary sources, education/degree, training, certification, and experience. The committee reviews the salary proposal for reasonableness based on the data sources. The chief executive officer makes recommendations for the salaries of the other executives (cfo and cno).”

“The organization's governing documents, conflict of interest policy, and financial statements are not made available to the public.”

“UROLOGY”

“Purchased medical staff services: program service expenses 997,316. Management and general expenses 699,361. Fundraising expenses 0. Total expenses 1,696,677.”

“Transfer of assets due to statutory merger -31,958,030.”

“The process has changed from the prior year. Effective april 1, 2014, the hospital was merged into osf healthcare system (osf), an illinois not-for-profit corporation. Due to the statutory merger with osf, the community board of directors no longer had a fiduciary responsibility, and was no longer a part of the final audit process.”

“Effective april 1, 2014, the hospital was merged into osf healthcare system (osf), an illinois not-for-profit corporation. After the merger, the hospital and osf became a single not-for-profit corporation with osf being the surviving entity and the hospital becoming an operating division of osf known as osf saint luke medical center. The hospital as a separate corporation ceased to exist as of april 1, 2014, with its last day of operations being march 31, 2014. After the merger, the defined contribution plan for hospital employees was frozen and contributions to the plan can no longer be made. As a result of the merger, all assets and liabilities of the hospital as of march 31, 2014, were transferred and assumed by osf. The illinois finance authority revenue bonds, series 2006 assumed by osf and refinanced in august 2014. During march 2014, the hospital transferred $200,000 to kewanee area healthcare trust, a newly created charitable trust as required by the merger of the hospital and osf. Kewanee area healthcare trust is a not-for-profit private foundation established to support the delivery and availability of high-quality health care services to the residents within osf saint luke medical center's service area.”