International Falls Memorial Hospital Association

“The form 990 is prepared by the same accounting firm which prepares the audit and then it is reviewed by the cfo and ceo. In addition, a copy of the return is provided to the board of trustees for review before it is filed with the irs.”

“The organization's officers, directors, and key employees are reminded of the conflict of interest policy and must sign a conflict of interest statement annually. When a conflict of interest exists, the interested trustee may be present for discussion to answer questions but may not advocate for the action to be taken and may be asked to leave the room while a vote is taken.”

“The ceo's initial compensation for the current contract and any subsequent annual increases based on performance are set by the board of directors and is documented in the board minutes. Ceo compensation rate and increases are determined using external salary range reports: the minnesota hospital association salary survey report, the "hhram" (healthcare human resources association of minnesota) salary survey book, and the medical group management associate (mgma) physician compensation report survey. The compensation for other officers and key employees is also determined using at least at least one of the above mentioned external salary range reports as applicable to the position. These rates and any increases are approved by the ceo and presented to the board of directors for their approval.”

“The governing documents, financial statements, and conflict of interest policy are not open to the public.”

“Melissa marcotte served as the cfo through february of 2022 for a partial year as an officer. The amount reflected in page 7, column d includes her time both devoted as an officer, and not as an officer, to tie to her reportable compensation per box 5 of form w-2.”

“Anesthesiology services: program service expenses 524,762. Management and general expenses 0. Fundraising expenses 0. Total expenses 524,762. Dietary services: program service expenses 136,199. Management and general expenses 0. Fundraising expenses 0. Total expenses 136,199. Laboratory services: program service expenses 288,149. Management and general expenses 0. Fundraising expenses 0. Total expenses 288,149. Other services: program service expenses 835,810. Management and general expenses 486,638. Fundraising expenses 0. Total expenses 1,322,448. Physician services: program service expenses 2,631,703. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,631,703. Pharmacy services: program service expenses 84,583. Management and general expenses 0. Fundraising expenses 0. Total expenses 84,583.”

“Change in unrecognized pension costs 58,048. Other adjustment”