Mcdowell Healthcare Foundation Inc

“Mcdowell healthcare foundation, inc. Changed its name to gateway wellness foundation during calendar year 2019. The filing organization will hereby be referred to as "the organization" throughout the return unless otherwise indicated by its old name, mcdowell healthcare foundation, inc.”

“The mcdowell hospital, inc. A north carolina nonprofit corporation, is the sole member of the corporation.”

“Line 7a & 7b explanation: the directors shall be elected by the sole member, the mcdowell hospital, inc. (member). The board of directors may nominate persons to be elected as directors by the member. The member may choose to elect or not elect any persons who are nominated in such manner.”

“SEE 7A”

“The form 990 is reviewed by an independent accounting firm. A final copy of the form 990 is provided to the board of directors prior to filing with the irs.”

“The independent directors review conflicts of interest and disabling situations, consider any issues involving conflicts and make determinations as to whether a particular relationship or arrangement would disable an individual from serving as a fiduciary for the board or would reasonably be expected to exert an influence on the individual's judgment and therefore preclude the individual from being an independent director. The board may retain counsel from outside audit, legal, governance or other experts. Any determination of percent of revenue or income received by an individual or entity may be based on certifications from outside auditors of disclosures made directly by the individual to the audit firm. Procedures upon determination of a conflict of interest: the interested person shall not participate in any discussion or vote regarding the business relationship issue, and shall not be present in the meeting room for any part of the discussion or vote relating to the business relationship issue. The board of directors will discuss the business relationship but will not formally approve such business relationship unless the disinterested members of the board have decided by majority vote that the business relationship is in the best interests of and for the benefit of the organization, and is fair and reasonable thereto in all respects.”

“The organization does not compensate its ceo, officers, or key employees. A related organization draws wage comparison data from outside executive compensation consultants to ensure compensation levels are at fair market value. The human resources and compensation committee of the related organization (committee) reviews this data and recommends to the board of the related organization any revisions to the overall philosophy and policy to guide the determination of compensation and benefit packages for executives which includes the ceo, the cfo, and president as well as all other executives, which would include all key employees. The committee keeps and distributes minutes of all its meetings to its members. Items of a sensitive nature are referenced in the minutes with detailed, supporting documentation retained on file. The committee also discloses any potential conflicts of interest situations to the committee chairman that may affect their independent directors' status as soon as they arise, and maintains complete documentation of all matters discussed by the committee. The committee obtains education and training to exercise all responsibilities effectively and keeps abreast of significant developments in executive compensation practices and regulations, and ensures that all aspects of mission health system and hospital executive compensation adhere to all relevant regulatory requirements, and reviews the committee charter annually revising as appropriate and conducts an annual evaluation of the committee's performance.”

“The organization's form 990 is available upon request.”

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

“Uncollectible pledges -184,112.”