Reedsburg Area Medical Center

“The executive committee shall consist of the chairman, first vice-chairman, medical advisor, secretary and treasurer. The executive committee shall have and may exercise, when the board of directors is not in session, the powers of the board of directors in the management of the affairs of the corporation, except action in respect to amending the by-laws, making rules or regulations governing nominations or elections, or disposing of or mortgaging assets of the corporation. The board of directors may select one or more of its members as alternative members of such committee who may take the place of any absent member or members at any meeting of such committee, upon request by the chairman of the board or upon request by the chairman of such meeting. Such committee shall fix its own rules governing the conduct of its activities and shall make such report to the board of directors of its activities as the board of directors may request.”

“Upon completion of the form 990, management reviewed for accuracy and completeness. Upon approval, the form 990 was presented to the board of directors for final approval prior to submission.”

“The purpose of the conflict of interest policy is to protect the corporation's interest when it is contemplating entering into a transaction or arrangement that might benefit the private interest of any governing board member, senior leadership staff, provider or employee. This policy is intended to supplement but not replace any applicable wisconsin laws governing conflicts of interest applicable to nonprofit and charitable corporations. Any director, principal officer, employee or member of a committee with board-delegated powers who has a direct or indirect financial interest, through business, investment or family: (i) an ownership or investment interest in any entity with which the corporation has a transaction or arrangement; or (ii) a compensation arrangement with the corporation or with any entity or individual with which the corporation has a transaction or arrangement; or (iii) a potential ownership or investment interest in, or compensation arrangement with, any entity or individual with which the corporation is negotiating a transaction or arrangement. Compensation includes direct and indirect remuneration as well as gifts or favors that are substantial in nature. Each director, principal officer, employee and member of a committee with board-delegated powers shall annually sign a statement which affirms that such person: (a) has received a copy of the conflicts of interest policy; (b) has read and understands the policy; (c) has agreed to comply with the policy; and (d) understands that the corporation is a charitable organization and that in order to maintain its federal tax exemption, it must engage primarily in activities which accomplish one or more of its tax-exempt purposes. In connection with any actual or possible conflicts of interest, an interested person must disclose the existence of his or her financial interest and must be given the opportunity to disclose all material facts to the directors and members or committees with board-delegated powers considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. After exercising due diligence, the board or committee shall determine whether the corporation can obtain a more advantageous transaction or arrangement with reasonable efforts from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably attainable under circumstances that would not give rise to a conflict of interest, the board or committee shall determine by a three-fourths (3/4) vote of the disinterested directors whether the transaction or arrangement is in the corporation's best interest and for its own benefit and whether the transaction is fair and reasonable to the corporation and shall make its decision as to whether to enter into the transaction or arrangement in conformity with such determination.”

“Independent wage and salary surveys are used for all key employees, including president/ceo. Vendors used are the rural wisconsin health cooperative and wisconsin hospital association. The board of directors reviews and approves the compensation of the ceo. Executive committee does the evaluation and chair meets with the ceo; minutes are kept in the ramc board minute journal. The process described here was last completed in 2024.”

“Reedsburg area medical center's governing documents, conflict of interest policy, and financial statements are reviewed at the hospital's annual meeting, which is open to the general public. Summarized financial statement data is also available through the wisconsin hospital association's website.”

“Contractual services: program service expenses 4,507,993. Management and general expenses 211,717. Fundraising expenses 0. Total expenses 4,719,710. Professional fees: program service expenses 7,749,097. Management and general expenses 363,935. Fundraising expenses 0. Total expenses 8,113,032. Collection fees: program service expenses 249,797. Management and general expenses 11,732. Fundraising expenses 0. Total expenses 261,529.”

“Net change in interest in net assets of foundation 1,998,303.”

“The process for selection and oversight of an independent accountant has not changed from the prior year.”