Aspirus Inc.

“During fiscal year 2014, the board of directors of aspirus, inc. Approved an amended version of the organization's bylaws. There were several updates to the bylaws which were primarily to update the language to current practices of the organization. The most significant change to the bylaws was in regards to the number and election of the board of directors. The bylaws were amended to state, "the corporation shall have a board of directors of no less than five (5) and no more than twelve members (12), such specific number as determined from time to time by resolution of the board of directors." prior to this amendment, the board of directors was limited to twenty five (25) members.”

“The form 990 is prepared by an independent accounting firm and reviewed by the organization's management. The form 990 is provided to the board or directors for review and approval prior to filing.”

“Board members and key employees are required to sign annual conflict of interest statements and all managers are required to sign biannual conflict of interest statements. The organization's ceo and board chair review the statements and highlight potential conflicts. The board determines on a case by case basis if any actions are required. Individuals are not permitted to vote on any transaction where a conflict has been determined to exist. All conflicts and proceedings are documented in the meeting minutes.”

“The organization had an independent audit for executive compensation which included base salary, incentive plans, and benefits for all officer and executive positions. The review was commissioned by the compensation committee of the board and was conducted by an independent consulting firm. The market analysis was approved by the compensation committee of the board in august, 2013.”

“The organization does not make its governing documents, conflict of interest policy, nor its financial statements available to the public.”

“Some officers, directors, and key employees also provided service to other related organizations other than aspirus, inc. These hours are reflected in line 2 of column b.”

“Equity change in investment in memorial health center 6,138,210. Equity change in investment in langlade hospital 5,218,824. Equity change in investment in aspirus keweenaw hosptial 349,281. Non controlling interest in aspirus grand view 2,359,975. Change in equity of unconsolidated affiliates 123,508. Equity change in investment in aspirus wvhn -71,765. Equity change in investment in aspirus extended services, inc. -270,385. Equity change in investment in vna home health, inc. And subsidiary 299,855. Equity change in investment in acs -177,391.”

“The audit committee of aspirus, inc. Provides the oversight of the independent accountant. Annually the audit committee takes time to meet with the independent accountant both prior to engaging and after the audit is completed to discuss the audit process and results. There were no changes to these procedures in fiscal year 2014.”