Franklin General Hospital Foundation

“The executive committee consists of two (2) or more corporation directors elected by the corporation board of directors. The committee has the powers and duties delegated to it by the board of directors.”

“The sole member is franklin general hospital.”

“The directors consist of the ceo of franklin general hospital, 2 members of the hospital board of trustees, and the president of the hospital auxiliary. The remaining directors are appointed from a list of persons nominated by the hospital's nominating committee.”

“Approval by the sole member, franklin general hospital, is required to approve any amendment of the articles of incorporation or the by laws, to approve any dissolution, consolidation, or merger of franklin general hospital foundation, to approve the acquisition or creation of any wholly-owned or controlled corporations, to approve all indebtedness in excess of $25,000, to approve the annual operating and capital budgets and all material variations from the budgets, to approve all non-budgeted capital expenditures, to approve all loans, to approve compensation, if any, of directors, and to approve the appointment of the president of the foundation.”

“The board of directors receives a copy of the 990 before it is filed. The marketing/foundation director reviews the 990 before it is shared with board members.”

“Directors and officers are required to sign a conflict of interest policy annually. Any director or officer having an existing or potential interest in a contract or other transaction presented to the board of directors must make a prompt, full and frank disclosure of the interest to the board prior to its acting on such contract or transaction. The board of directors determines, by majority vote, whether the disclosure shows that the non-voting and non-participation provisions must be observed. If so, the individual cannot vote on, or use his/her personal influence on, or participate in the discussions or deliberations with respect to the contract or transaction. The individual may be coounted in determining the existence of a quorum. The minutes of the meeting should reflect the disclosure made. The abstention from voting and participation, and whether a quorum was present.”

“The ceo's compensation is determined by franklin general hospital, a related organization and mercy medical center - north iowa. The hospital and mercy medical center - north iowa have a master affiliation agreement. The foundation director's compensation is determined by franklin general hospital, a related organization.”

“The organization's governing documents, conflict of interest policy, and financial statements are not available to the public. Financial information can be obtained by viewing the public disclosure copy of the 990.”

“Transfer from franklin general hospital 37,125. Reduction of allowance 227.”

“This process has not changed from the prior year.”

“The foundation does not have any employees. Wages are paid by franklin general hospital, a related organization. Wages are allocated from franklin general hospital to franklin general hospital foundation.”