Saint Luke'S Foundation

“The bylaws were amended during the year. Changes included a restructure of the size of the board of trustees. Members are now elected by the governance committee instead of the board of trustees. All physician candidates must now be identified by physicians on the board. One-third of the trustees who are not ex-officio members shall constitute a quorum for the transaction of business instead of just one-third of all members.”

“In april 2018, the organization became aware of an unauthorized diversion of $1,191,000 that occurred over multiple years preceding the date of discovery. The diversion was by a former employee who was no longer employed by the organization upon its discovery. Upon discovering the diversion, the organization notified the foundation board of trustees and saint luke's health system board of directors, hired an external accounting consultant, performed a reconciliation audit, cooperated fully with the subsequent law enforcement investigation, and implemented improved internal controls covering disbursements. The organization is actively pursuing compensation through applicable insurance policies.”

“An independent accounting firm prepares and reviews the 990 with the assistance of the organization's accounting team. The return was reviewed by the entity's cfo before filing. A summary of key 990 information was presented to the organizations board of directors and the final 990 was provided to the organization's board of directors before filing with the irs.”

“An annual tax compliance and conflict of interest survey is distributed to all officers, trustees, and key employees. The results of the survey are reviewed for any conflicts of interest where a trustee may be related in any way to any firm or organization with which the foundation or a saint luke's health system entity may do or consider doing business. That relationship shall be disclosed by the member to the board of trustees as appropriate and such member shall not participate in any vote on the matter nor participate in discussions of the board of trustees concerning the subject matter except that the member may respond to questions by the board of trustees regarding the matter under consideration.”

“The review of compensation for the foundation ceo was conducted by the saint luke's health system compensation committee. The review involves analysis of current market conditions and comparability data in consultation with independent consultants. The activities and decisions of the compensation committee are contemporaneously documented.”

“The conflict of interest policy, governing documents, and financial statements are made available for public inspection upon request.”

“In 2018, the foundation provided support for the following program services: capital facilities and equipment at saint luke's health system entities. Medical education programs - expenditures to support medical education through activities of medical chair holders, residency, and fellowship programs. Research programs - funding provided to medical research projects. Medical programs - projects to enhance the delivery of care and exellence of saint lukes health system medical programs. Loans, scholarships and awards - educational funds for loans, scholarships, or awards to system employees, students of the saint luke's college of health sciences, or other students of the medical technical schools of saint luke's health system.”

“Change in beneficial interest $ (166,803) transfers from affiliate $ 930,637 -------------- form 990, part xi, line 9 $ 763,834”