William Beaumont Hospital

“Beaumont health is the sole corporate member of william beaumont hospital.”

“Beaumont health is the corporate member of william beaumont hospital, with the right to elect one or more members of william beaumont hospital's governing body.”

“Beaumont health, as the corporate member of william beaumont hospital, has reserved powers over william beaumont hospital's operations, including but not limited to budget, acquisitions, capital projects and participation in joint ventures.”

“The 2015 form 990 was subjected to a multi-step review process culminating in the provision of such form to all voting members of the william beaumont hospital board of directors prior to its filing. The form 990 is prepared by beaumont's director of tax and is then reviewed by the corporation's outside accounting firm. The form 990 is then reviewed by leadership within the finance department for completeness and correctness. As the final step in the multi-level review process, a copy of the final version of the form 990 was provided to each voting member of william beaumont hospital's governing body for their review before it was filed.”

“Beaumont hospital recognizes that it has an obligation to its patients, its payors, its designees and the communities it serves to observe the highest level of integrity to ensure clinical, business and academic decision making is not compromised by financial or other relationships with industry. The corporate compliance office, with the assistance of human resources and specific individual departments, coordinates upon hire and each calendar year thereafter, a process of obtaining conflict of interest/disclosure of remuneration statements. All areas of the institution follow the human resources hiring process protocol to assure compliance with the conflict of interest program. At any time when a designee becomes involved in a relationship that is or may be perceived to be a conflict of interest, the designee must complete the conflict of interest/disclosure of remuneration statement and forward to the corporate compliance officer. A conflict of interest or need to disclose remuneration may exist if a beaumont designee or any member of their immediate family receives compensation in any form for services rendered in any capacity to any organization or individual that has any past, present or prospective business dealings with beaumont, if such compensation might be reasonably construed as tending to prevent the designee from acting solely and wholly in the best interest of beaumont.”

“William beaumont hospital's (beaumont) board of directors has duly appointed an organization and compensation committee (the "committee"), which is responsible for the review and approval of compensation and benefits provided to beaumont's executive management. The committee has adopted a written executive compensation philosophy statement governing the work and review process of the committee. The committee follows the procedures described in the philosophy statement when it reviews and approves the compensation and employee benefits provided to beaumont's senior management, including the chief executive officer and other officers. The committee reviews all aspects of compensation, including current and deferred compensation, and benefits, including qualified and non-qualified benefits. The committee meets four times a year, and approves compensation and benefits only to the extent that the committee has concluded that the compensation and benefits constitute no more than reasonable compensation for each executive. The committee consists of six members, all of whom are disinterested members of the board of directors. The committee works with an independent compensation consultant to prepare and review in advance comprehensive data showing the compensation provided by similarly situated organizations for functionally similar positions. The committee also prepares a timely and thorough written record of its deliberations and conclusions. As a result, the committee's review process is designed to satisfy the procedural criteria necessary to qualify for the rebuttable presumption of reasonableness under the federal income tax law intermediate sanctions rules. The committee has expressly determined that the total compensation provided is reasonable, based on the review of the market data presented by the independent compensation consultant and on the review of all other relevant facts and circumstances.”

“The organization will provide any documents open to public inspection upon request.”

“Funds released from restrictions -8,060,701. Pension adjustments 11,100,549. Beaumont nursing home services distributions 3,850,000. Net asset transfers from affiliated companies 23,710,308. All other, net -4,109,674.”

“In 2015, beaumont health, the parent corporation and sole member of botsford general hospital, oakwood healthcare, inc., and william beaumont hospital resolved to select one independent accounting firm for the system, and put the work out to bid with several qualified firms. After review of the firms' proposals and consideration of the qualifications of each, the final decision was made by the governing body of beaumont health.”