Sanford Health Foundation

“The following officers, board members, and key employees are employees of sanford or its related organizations. Many of these employees also serve on other related sanford boards, or have business relationships with each other that span the organization as a whole: bill gassen, deb koski, bill marlette, nick olson and scott wooten.”

“Sanford health is governed by a board of trustees (bot) that has ultimate strategic and decision making authority. The bot delegates certain activities and responsibilities to boards of each of sanford's primary operating subsidiaries. The unique nature and complexity of the subsidiaries requires each to have a delegated board with a singular entity focus. Such bodies, referred to as boards of directors and boards of governors, address matters such as credentialing, accreditation standards, developing budgets, programs and facilities on an entity-specific basis, and generally consist of individuals distinct from the bot. These boards function much like committees in a traditional corporate structure. The bot then act as a holding company board, synthesizing and reconciling each entity's programs and budgets into a system-wide strategic plan. Sanford is the sole member of sanford health. Sanford health is the sole member of the organization. The board of trustees of sanford also comprises the board of trustees for sanford health and for the organization. The board of trustees delegates authority to the board of directors of the organization. Actions approved by the organization's board of directors are then subject to approval by the board of trustees.”

“The sanford board of trustees approves the actions approved by the board of directors of sanford health foundation of northern minnesota.”

“The sanford board of trustees approves the actions approved by the board of directors of sanford health foundation of northern minnesota.”

“The form 990 is prepared internally by the tax department and reviewed by executive management. The tax department prepares return highlights and key disclosures for the executive management team. An external accounting firm reviews and signs the return. Before the return is filed, a complete copy is provided to the current board of trustees.”

“The annual conflict of interest disclosure process is managed by the chief compliance officer (cco). The cco is responsible for assuring that all completed forms are returned in a timely and complete manner. Conflict of interest questionnaires are sent to system trustees, members of the governing boards of subsidiary entities, officers and key employees for all entities subject to the irs form 990 filings. The disclosures are summarized for review by the executive committee of the board of trustees, pursuant to policy. This review allows: 1)the board to acquire an awareness of financial relationships of board members and key managment employees and can invoke the recusal process on a case-by-case basis if potential conflicts are implicated in board decisions and deliberations, and 2)gives the board the opportunity to seek additional information and clarification about disclosures to determine potential conflicts of interest and how to manage them.”

“Sanford has a process for determining compensation of the persons listed on part vii, section a. This includes a review and approval by independent persons, review of comparability data and contemporaneous substantiation of the deliberation and decision for such compensation. Sanford engages a nationally recognized independent compensation consulting firm annually to review the total compensation arrangements of the officers and executives of the organization, including the ceo. The executive committee of the board of trustees approves all compensation changes for the ceo in advance, relies on the market data provided by the independent consulting firm in making changes, and documents the basis for any changes in committee minutes.”

“Although the organization does not maintain a website where the public can access these documents, it would respond individually to any requests or inquiries from the public for the documents.”

“The sanford board of trustees has ultimate governance responsibilities for each major operation entity within sanford. In addition, a board of directors is established for each major operating entity. This board has specific responsibilities delegated from the board of trustees. Generally these responsibilities are related to the oversight of the day to day operations of that entity.”

“All other expenses: program service expenses 0. Management and general expenses 200. Fundraising expenses 1,650. Total expenses 1,850. Expenses reimbursed by sanford health (see explanation below): program service expenses 0. Management and general expenses -350,493. Fundraising expenses -219,997. Total expenses -570,490.”

“All general and administrative expenses and fundraising expenses (the "expenses") are paid for by sanford health to ensure that 100% of donor funds are used to support sanford's work of health, healing, and comfort. As a result, the net cost of these expenses funded by the foundation is $0.”

“Reimbursement for capital expenditures 86,790. Valuation change in beneficial interest 59,346.”