Freeport Regional Health Care Foundation

“The organization's audit committee reviews the form 990 before the tax return is filed. Questions and explanations are answered by the finance department to the committee's satsifaction. The board reviews all transactions that affect the filing of the organization's form 990 and equivalent state returns.”

“The organization has a dedicated corporate compliance officer. All members of the board of directors, officers, trustees and key employees are required to complete annually a conflict of interest questionnaire. These documents are reviewed by the cco to determine if any individual has a conflict of interest that needs to be addressed.”

“The organization has an executive compensation committee that reviews the ceo, top management and executive directors compensation. The committee relies on internal and external information to determine the appropriate compensation and employs an independent third party to conduct the annual executive compensation analysis. This analysis is used to determine if the board's written executive compensation philosophy has been met. The executive compensation committee also receives a reasonableness letter from the third party.”

“These documents are not available to the public.”

“Fhn is a regional healthcare system committed to the health and well-being of the people of northwest illinois and southern wisconsin. We have services nearby for all ages, so every member of your family can receive caring, personal, professional healthcare. An average of 1,400 people visit fhn each day for their healthcare needs (that's more than 525,000 patient visits per year). Fhn is the only healthcare provider in our service area that offers affiliations with all three major hospitals in rockford, illinois, as well as with the university of wisconsin hospital and clinics in madison, wisconsin. We see each patient interaction as a serious responsibility that requires clinical expertise, access to the latest in medical technology and a level of trust and commitment that is earned by our people, our products and our processes. The fhn healthcare system encompasses: fhn memorial hospital, located in freeport, illinois over 100 medical and allied health staff over 39 specialties 7 regional locations in six counties 4 family healthcare locations in freeport 3 specialty care locations in freeport fhn leonard c. Ferguson cancer center fhn family counseling center occupational health services hospice chiropractic care and acupuncture northern illinois health plan serving more than 17,000 individual members. Fhn consistently ranks higher than the national average when it comes to patient satisfaction, and we continually set extremely demanding goals in this area. Fhn also is dedicated to employee satisfaction, which helps us attract a talented and dedicated workforce and maintain a low employee turnover rate. We're a part of your community. And we want to keep it healthy, both economically and physically at work, at play, on the farm, at school and at home. In 2006, we formed a partnership with the stephenson county health department to provide healthcare services for the uninsured, underinsured and medically indigent at the fhn community healthcare center, located at the former crusader community clinic inside the health department building. And in support of the local united way, each year our employees make their personal contributions, averaging over $40,000, and also serve in leadership positions for many community organizations and boards. Fhn is a community healthcare system, comprised of local experts, inspired by global innovation and grounded by ethical leadership. As your partner in health, you can count on us to focus on your well-being and furnish you with exceptional healthcare every step of the way. Freeport regional health care foundation provides medically necessary care to patients regardless of ability to pay and in medically underserved areas. Insured and underinsured patients, who meet certain federal poverty guidelines and/or other unique circumstances, are provided free or discounted care after a nominal co-payment. Because the foundation does not pursue collection of amounts determined to be charity care, they are not reported as revenue. The foundation maintains records to identify and monitor the amount of charity care it provides. During 2023, the charges foregone for services and supplies furnished under the foundation's charity care policy was $79,830 at a cost of $52,565. Freeport regional health care foundation is a licensed medicare and medicaid provider with approximately 69% of its patient base qualifying for at least one of these programs. At present, the reimbursement rates for both programs do not fully cover the cost of care to these patients. The estimated unfunded costs of services for medicaid patients were approximately $4,695,531 for the year ending 12/31/2023. Medicare payments were approximately $16,069,143 less than the foundation's cost to provide care during the same period. In addition, the cost of care provided to people who did not pay was $465,719 in 2023. Freeport regional health care foundation provides discounts to uninsured patients without regard to their income. For 2023 th”

“Transfer from affiliate fmh 26,550,953. Assets released from temp restricted -23,624. Investment income restricted 85,311. Contributions and other perm restricted 18,583. Net appreciation restricted 274,814. Net appreciation non-restricted 0. Net appreciation non-restricted 0. Other -5,002.”