Healthplus of Michigan

“Vernon burns and peggy tortorice have a business relationship. Peggy tortorice and stephanie whisiker-lewis have a business relationship. Form 990, part vi, line 6 healthplus of michigan, inc. Is a michigan-based nonprofit organization. As such it is regulated pursuant to the nonprofit business corporation act of 1982. Healthplus of michigan's corporate functioning must then conform to the requirements of the nonprofit business corporation act in order to maintain its proper corporate status and for the corporation to be recognized as a separate legal entity. Healthplus of michigan, inc. Is also a membership-based corporation. While most corporations are stock-based and shareholders (or stockholders) have both an economic and voting interest in the corporation, healthplus of michigan has only members - as established by contract status. The contract holders have no economic interest in the organization, but do have voting interests recognized principally through the election of the board of directors. In addition, significant corporate actions also require the voting of the membership. Form 990, part vi, lines 7a & 7b healthplus of michigan, inc. Is a michigan, nonprofit membership-based corporation. Pursuant to the michigan nonprofit corporations act and the company's articles of incorporation and bylaws, certain actions cannot be authorized by the board of directors, but can only be authorized by its voting members. These decisions include: dissolution of the company, sale of all or substantially all of the company's assets, conversion of the company's nonprofit status, and election of board members. The board members must be elected by a vote of membership.”

“The form 990 is prepared by the organization's independent accountants based on information provided by the organization. It is then reviewed by the organization's chief financial officer and controller before it is finalized. The governing board will review a final copy of the form 990 subsequent to the filing of the return. Any necessary amendments will be filed within 30 days of the original filing of the form 990. Form 990, part vi, line 12c conflict of interest statements are filled out and signed annually by the board of directors. The statements are reviewed by the ceo and chairman of the board for potential conflicts. A director may announce if they believe a conflict exists and abstain from voting. If there is a question as to whether the conflict exists, the board or committee will go into executive session to determine if a conflict exists. If it is determined that a conflict exists, the individual involved is removed from discussions to determine appropriate action. The board attorney maintains the minutes from meetings and discussions relating to conflicts of interest.”

“The base pay and incentive compensation paid to the chief executive officer and all vice presidents are reviewed by the executive committee and approved by the entire board of directors. A board appointed consultant/attorney is directly engaged by the board of directors and utilizes national benchmark salary surveys to assist the board of directors in its review. The compensation approval process for the chief executive officer's compensation and for other executives' compensation was undertaken in 2014. Form 990, part vi, line 15b for all employees, comparable data is provided by human resources before and after hiring decisions are made. Form 990, part vi, line 19 healthplus of michigan, inc. Makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. Form 990, part v, line 2a & part vii, columns d & e directors are paid for services provided to the organization and rendered in their capacity as members of the governing body.”

“Allocation of admin expenses to affiliates - $46,577,108 postretirement benefit obligation adjustment - ($ 145,823) change in non-admitted assets - ($ 2,809,792) gaap vs. Sap adjustments - ($ 6,321,792) change in investment in subsidiary - ($55,675,802) total - ($18,376,101) form 990, part iv, question 12 & part xii, question 2 to meet the requirements of the state of michigan, the financial statements have been prepared in conformity with accounting practices prescribed or permitted by the michigan department of insurance and financial services (difs), which practices differ from us general accepted accounting principles. The difs requires management to make estimates and assumptions that affect amounts reported in the financial statements. Such estimates and assumptions could change in the future as more information becomes known, which could impact the amounts reported and disclosed. The financial statements for the tax year ended december 31, 2014 were prepared using the best information available. For the tax year ended december 31, 2013, the financial statements were reported using us general accepted accounting principles.”