Fort Madison Community Hospital

“Great river health system began providing management services to the fort madison community hospital as of august 1, 2018. Great river health system began compensating jeremy alexander during the calendar year ended december 31, 2018. Compensation from great river health system is included in reportable compensation in part vii, line 1 and schedule j, as applicable.”

“The organization amended their bylaws in january 2021. There were specific powers that were reserved strictly for grhs. Those items included elect and removal of board members, amending articles of incorporation and bylaws, dissolving or merging, and approving budget and debt. The board size was dropped to total of 7 members. The committee structure outlined three standing committees that the board members would attend.”

“Great river health system, inc., a related organization and iowa nonprofit corporation, is the sole corporate member of fort madison community hospital.”

“As the sole member of fort madison community hospital, great river health system, inc., has the exclusive power to appoint, after nomination of directors for election by the corporation's board, any director to the corporation's board.”

“As the sole member of fort madison community hospital (fmch), great river health system, inc. (grhs) has the exclusive power to appoint, after nomination of directors for election by the corporation's board, any director to the corporation's board. The board of directors may only remove directors that were not selected and appointed by grhs. Fmch must also receive consent from grhs' board of directors for certain actions to be take, such as adoption of strategic plans for fmch or fmch affiliates, adoption of operating and capital bugets for fmch or fmch affiliates, approval of indebtedness incurred by fmch or fmch affiliates, the transfer, sale, or closure of any facility, department or function of fmch or fmch affiliates, any amendment to the articles or bylaws of fmch or fmch affiliates, etc.”

“A copy of the form 990 was reviewed by the organization's controller and vice president of finance with the external accountants for completeness and accuracy prior to filing the form 990 with the internal revenue service.”

“Both corporate and subsidiary board members are provided education regarding conflicts of interest. This education is provided by the chief compliance officer. All board members are required to complete a conflict of interest disclosure form. Relationships noted on the this form may be discussed with the respective board member if there are questions. If an individual has a conflict of interest, they may not participate in discussions relating to the transaction in question and may not vote on matters related to the transaction.”

“Compensation of officers is paid by a related for-profit subsidiary. The compensation for the ceo and other officers is determined by the executive compensation committee of great river health system, inc. The role of the compensation committee is to act on behalf of the corporate board of directors in adopting, reviewing and maintaining an executive compensation philosophy. The compensation committee is comprised of three board members, all of whom are independent from the ceo and other officers. The compensation committee reviews the compensation of the ceo and other officers on an annual basis. The deliberations and decisions are documented in minutes taken at the meetings. Great river health system, inc. Participates in and utilizes executive salary surveys to determine compensation ranges. The committee reviews prevailing market data to ensure continued market competitiveness. The compensation committee also engages an independent third party compensation consulting group biennially to assess and validate the entirety of executive compensation and benefits packages to ensure regulatory compliance, external competitiveness, and internal equity. The most recent year of an independent third party review was 2021.”

“The organization's governing documents, conflict of interest policy, and financial statements are made available to the public upon request.”

“Equity in subsidiary earnings 1,162,246.”

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