Monument Health Rapid City Hospital Inc

“Monument Health Rapid City Hospital, Inc. was known as Rapid City Regional Health, Inc. during fiscal year ended June 30, 2019. The organization changed its name in January, 2020, and filed the name change with the IRS prior to filing of this return.”

“The membership of the Executive Committee of the Corporation shall consist of the following: Chair of the Board of Directors, Vice Chair of the Board of Directors, two other Board members appointed by the Chair, and the Corporation's President. The Chair of the Board of Directors shall serve as the Chair of the Executive Committee. Directors on the Executive Committee shall serve during the term of office they hold which places them on the Executive Committee, or, for the two Chair-appointed members, for a term of one (1) year or until their successors are appointed. The Executive Committee, when the Board of Directors is not in session, shall have and may exercise all of the authority of the Board of Directors, except to the extent, if any, that such authority shall be limited by a motion or resolution of the Board of Directors or that is authority reserved to the Member. It is intended that the powers of the Executive Committee to act for the whole Board be confined to such urgent matters as reasonably should not be deferred until the next regularly-scheduled meeting of the full Board.”

“Brent Phillips has a business relationship with the following individuals due to being the CEO (Until 07/2018) of the supporting organization that exercises reserve powers over the supported organizations that employ each of these key employees: Teresa Burroff; Stephanie Lahr MD; Mary Masten; Tresha Moreland; Brad Archer MD; Nicole Kerkenbush; John Pierce; Michael Tilles; Mark Thompson; Laura Wightman; Doughlas Koch; Mark Longacre; and employed Board Members: Sri Gangineni MD; Alex Schabauer MD; Andrea Baier MD. Paulette Davidson has a business relationship with the following individuals due to being the CEO of the supporting organization that exercises reserve powers over the supported organizations that employ each of these key employees: Teresa Burroff; Stephanie Lahr MD; Mary Masten; Tresha Moreland; Brad Archer MD; Nicole Kerkenbush; John Pierce; Michael Tilles; Mark Thompson; Laura Wightman; Doughlas Koch; Mark Longacre; and employed Board Members: Sri Gangineni MD; Alex Schabauer MD; Andrea Baier MD.”

“Monument Health, Inc. is the sole member of Monument Health Rapid City Hospital, Inc.”

“The organization's sole member and supporting organization, Monument Health, Inc., appoints the members of Monument Health Rapid City Hospital's governing body. The bylaws require that at least one member of Monument Health Rapid City Hospital's board also serves as a voting member of the sole member's board to better assure the sole member's continued responsiveness to Monument Health Rapid City Hospital.”

“Monument Health, Inc. provides compliance, governance, financial, and planning support to its Supported Organizations to best assure the functions and services of the Supported Organizations are coordinated and supported in a manner that furthers the shared charitable mission of the Supported Organizations and MHI, as a whole (the System). Monument Health, Inc. has final authority in significant business decisions affecting Supported Organizations.”

“The 990 is prepared and reviewed by an independent accounting firm. It is then reviewed internally by finance and legal management. The Form 990 is further reviewed, prior to filing, by the organization's board of directors through a portal to the organization's internal information system, to which each board member has access. Educational sessions have been provided to board members on how to access the portal.”

“As part of the annual disclosure of potential conflicts process, all board members, officers, and management are required to complete an annual disclosure statement on financial interests and conflicting interests. At Board and Board Committee meetings, the meeting agenda includes an initial item "Conflicts of Interest" where the Chair asks members if they have any conflicting interests or financial interests related to an agenda item. If a conflicting or financial interest is disclosed, it is noted in the minutes and there is discussion or determination of whether the disclosure requires the board or committee member to be excused from discussion or action on that agenda item. Board or committee members whose disclosure is found to be a conflict may be invited to speak on the matter by the Chair, but are not permitted to vote on the matter and may be required to leave the meeting during discussion, after they have made any comments invited by the Chair. Failure to comply with the Conflict of Interest policy constitutes grounds for removal from office or membership on the Board or Board Committee and, in the case of all employees, termination of employment.”

“The Executive Committee of Monument Health Inc. (MHI; parent) engaged an independent third party compensation firm to conduct a review of all executives, Vice President level and above, to determine an appropriate compensation range in which their compensation would be established. The independent compensation consultant provided peer group market comparative data for base salary, total cash compensation, benefits and total compensation for executives. The CEO or her designee determines the actual base salary of the executives within the committee-approved base salary range based on experience and performance, providing the total compensation is within the targeted market percentile, e.g. 50th percentile. In May 2017, the independent consultant met with Committee members and presented 2017 data upon which the Committee determined all elements of compensation for the member's CEO (base salary, total cash compensation, benefits and total compensation) and reaffirmed the organization's executive compensation philosophy, which includes the targeted market percentile for all other executives.”

“The Articles of Incorporation of the organization are filed in the office of the Secretary of State of South Dakota and are available to the public from the Office of the Secretary of State. Other documents (Bylaws, conflict of interest policy and financial statements) are not posted for the public but are available or described in other public documents or sites such as offering statements in bond issues or municipal securities rulemaking board's electronic municipal market access (EMMA) data port.”

“Mark Longacre, President of Monument Health Orthopedic and Specialty Hospital, worked continuously for Monument Health throughout the fiscal year. The Hospital was operated in Monument Health Physicians for a portion of the year. In February, the Board of Directors made the decision to transfer the Hospital operations to Monument Health Rapid City Hospital, his hours have been allocated accordingly.”

“On January 6, 2019, Monument Health Rapid City Hospital opened a new facility, the Monument Health Orthopedic and Specialty Hospital (MHOSH). MHOSH is a department of, and a remote location of, Monument Health Rapid City Hospital. It is located approximately 4.5 miles from Monument Health Rapid City Hospital's Main Campus and its address is 1635 Caregiver Circle in Rapid City, SD. MHOSH provides four surgery suites and ten inpatient rooms, with surgical procedures primarily focusing on orthopedics, neurosurgery and podiatry. It offers several related outpatient services (orthopedic surgery, neurosurgery, physiatry, primary care sports medicine, sports medicine, regenerative medicine, podiatry, pain management, wound care and weight management); therapy services (physical, speech and occupational therapy); and sports performance services.”

“Adj to the Funded Status of the Pension Plan -4,246,910. Medical Staff Net Income -47,887. Temporarily Restricted Net Asset Changes -3,415,535. Auxiliary Net Income -5,292. Transfers with related organizations -446,212.”

“The issue price of the bonds includes the filing organization's share of the entire bond issue, which was issued to Monument Health, Inc. on behalf of the Monument Health Obligated Group. The Monument Health Obligated Group consists of Monument Health, Inc., Monument Health Rapid City Hospital, Inc., Monument Health Network, Inc. and Monument Health Physicians, Inc.”