Pana Community Hospital Foundation

“The sole member of the corporation is pana community hospital association.”

“The sole member of the corporation is pana community hospital association. The member has the power to appoint the members of the board of directors.”

“Decisions of governing body. Some decisions like approving new board members are approved by the hospital's board of directors notwithstanding any contrary-provision in these by-laws. The corporation shall not, without the prior approval of the sole member a) alter, amend, or repeal the incorporation or by-laws of the corporation or adopt any by-laws for any subsidiary, b) approve the annual operating budget of the corporation or approve any formal long-range plan of the corporation, c) approve any transaction for which the corporation would be required to obtain certificate of need approval under illinois law, d) borrow funds unsecured, or incur debt, whether secured or unsecured, e) approve or adopt any plan of merger or consolidation, or any sale, lease, exchange, mortgage, pledge, or other disposition of all or substantially all (10% or more) of the property and assets of the corporation, f) select auditors for the corporation, g) create or acquire any subsidiary corporation, or create any other which the corporation is a member, h) dissolve the corporation or adopt any plan of dissolution.”

“The organization contracts with a public accounting firm for the preparation of the form 990. The return is prepared based on information provided by financial management and others within the foundation. The form 990 is reviewed by the cfo prior to filing with the irs. Cfo presents a copy of form 990 to the governing board for review.”

“Conflict of interest policy covers the board of directors, administration, employees and volunteers. Conflict of interest policy is sent out to the board, administration, employees and volunteers on an annual basis requiring any disclosures to be made. When a board member has a conflict they are allowed to provide their position on the matter and will be allowed to answer questions, but they are not allowed to vote or use personal influence on the matter. Administration, employees and volunteers are required to report conflicts at the earliest opportunity before consummating the transaction.”

“The foundation would consider each request for its governing documents, conflict of interest policy, or financial statements and if deemed appropriate make said documents available to the public.”

“Change in net assets increase in csv of life insurance 380.”

“This process has not changed from prior years.”