Margaret Mary Health Foundation Inc

“Margaret mary health foundation has one corporate member, margaret mary community hospital, inc., an indiana nonprofit corporation.”

“The corporate member appoints or removes all the board of directors for the foundation.”

“The following decisions are subject to approval by the corporate member of the foundation: 1. Approve any action which might be considered as inconsistent with the objectives and purposes as set forth in article ii of the articles of incorporation; 2. Approve the mission and vision statements for the corporation; 3. Amend and/or restate the articles or these bylaws; 4. Fix the number of members of the board of directors of the corporation; 5. Appoint, upon the recommendation of the board of directors of the corporation, or remove, with or without cause and with or without a recommendation of the board of directors, each and any member of the board of directors of the corporation; 6. Vote on all matters where the vote of members with voting rights is required under the articles, these bylaws, or the laws of the state of indiana; 7. Approve the merger, dissolution, consolidation, or reorganization of the corporation; 8. Approve the acquisition, sale, lease, transfer or other alienation of assets of the corporation, other than in the usual and regular course of the corporation's business; 9. Approve any annual or long term capital or operational budgets; 10. Authorize the corporation to make any previously non-budgeted expenditure in excess of $100,000 (the excess of any proposed expenditure over the previously approved budgeted amount shall be deemed a non-budgeted expenditure); 11. Approve the disposition of the assets of the corporation at the time of its dissolution; and 12. Approve any gift, grant, or other contribution that is not to be made directly to, on behalf of, or at request of the corporate member or a subsidiary or affiliate of the corporate member.”

“The process of reviewing the form 990 includes a detailed review by the organization's executive director, organization's board treasurer/corporate member's board chair, and corporate member's accounting department. The governing body receives an electronic copy of the form 990 including requested schedules, as ultimately filed with the irs, for review prior to filing with the irs.”

“The written conflict of interest policy is regularly and consistently monitored and compliance enforced by the board chair. The scope of this policy includes any director, officer, or member of a committee with board delegated powers who has a direct or indirect financial interest. The policy is in place to protect the foundation's interests when it is contemplating entering into a transaction or arrangement that might benefit the private interests of an officer or director of the foundation. This policy is intended to supplement but not replace any applicable laws governing conflicts of interest applicable to nonprofit and charitable corporations. The interested persons have a duty to disclose any actual or possible conflicts of interest in advance, disclosing the existence and nature of his or her financial interest, to the board of directors and members of committees with board delegated powers. The board or committee, absent the interested person, will determine if there is a conflict of interest and documented in the meeting minutes. The board committee will deliberate and decide if the arrangement is in the best interest of the foundation without the interest person involved. Periodic reviews of foundation's activities will be reviewed to ensure that the foundation has not engaged in any activities that could jeopardize its tax-exempt status.”

“The process for determining compensation is made by the corporate member, margaret mary health (the hospital), and not by the foundation. The executive director is not paid by the foundation, but is an employee of the hospital. The hospital has a procedure for reviewing and approving compensation for all employees of the hospital including the executive director.”

“The foundation makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. For more information about the foundation, contact the executive director at the phone number listed on the first page of the form 990.”

“The functional expenses listed in part ix are in-kind expenses paid by margaret mary health (the hospital) on behalf of the foundation. The hospital will not be requiring the foundation to reimburse the hospital for the expenses paid on behalf of the foundation. The foundation has included in-kind revenue and in-kind expenses from the hospital as revenue and expenses on its financial statements; none of the in-kind revenues or expenses were for services or noncash contributions.”

“Change in discount on pledge -282,033.”