Critical Care Services Inc

“The finance committee includes board members and financial executives of consortium member organizations as defined by committee charter authorized by the board of directors. Executive committee membership consists solely of board members. The executive committee has the authority of the board of directors in the management of the business in the intervals between board of directors meetings, provided, however, the executive committee does not have authority to act on any matter requiring a supermajority vote or other matters specified in the bylaws. Finance committee membership consists primarily of non-board members appointed by the respective life link iii member organizations. The finance committee acts as the audit committee and assists and advises the board of directors on capital structure, financing, investment strategies and financial policies. The compensation committee is responsible for the performance review and setting compensation of the ceo.”

“In 2024, critical care services, inc. Updated its bylaws to modernize governance and clarify membership roles. A key change was the introduction of voting and non-voting members, with voting members required not to operate competing air ambulance services. The bylaws now allow for voluntary and involuntary reclassification between these categories. The board structure remains similar, but member directors are now automatically removed if their appointing voting member resigns or is reclassified.”

“Life link iii operates as a consortium of ten members non-profit healthcare organizations including: allina health; childrens health care; hennepin healthcare system inc.; regions hospital; fairview health services; centracare health system; sacred heart hospital of the hospital sisters of the third order of st. Francis; aspirus st. Luke's hospital; essentia health; and marshfield clinic health system.”

“All members are entitled to appoint one person to the board of directors and upon dissolution of the organization, share equally in any surplus of property.”

“The return was reviewed in detail by the chief financial officer (cfo). The cfo provided and reviewed a draft of the form with the finance committee of the board of directors for their review and approval. The board of directors then received a final draft and approved prior to filing with the irs.”

“Directors, officers and key employees are required to annually complete and sign the conflict of interest statement. The signed statements remain on file with the organization for the calendar year. Conflicts are reviewed and determined by the ceo in conjunction with the executive committee. Persons with a conflict are required to disclose and refrain from voting on matters where they have a conflict. Actual conflicts are noted in meeting minutes.”

“Independent national compensation data is used to regularly assess every position in the company including that of the ceo. This data, and consideration of the needs of the organization consistent with the direction of the board, is used to arrive at the compensation for the ceo. Life link iii also periodically engages independent consultantsto review market compensation data for comparable companies to make informed recommendations on compensation levels for key roles. The process described here was last completed in 2024.”

“The organization's governing documents, conflict of interest policy, and financial statements are held by the organization's ceo and cfo and are available upon request at the organization's office during normal business hours.”

“Equity contribution -147,766.”