Stanford Health Care Advantage

“Linda hoff and david entwistle are both employees of stanford health care, voting board members at sumit holding international, llc, voting board members at sumit insurance company, ltd., and class a subscriber voting members at the professional exchange assurance company.”

“The sole member of shca is shc, shca's supported organization.”

“As the sole corporate member, shc elects all of the members of the board of directors of shca and may remove any member of the board of directors of shca without cause.”

“Certain decisions of the board require approval of the member. The organization may not enter into a professional service agreement without approval of the members. In addition, amendment of the bylaws requires approval of the members.”

“The form 990 is prepared by an outside accounting firm in connection with the shca finance department. The return is reviewed by management and distributed to shca's full board before filing.”

“Directors are required to complete, at the time of appointment to the board of directors, a conflict-of-interest attestation statement ("attestation statement") acknowledging review of the conflict of interest policy and attesting that the individual has complied with the policy during the past 12 months and that the individual will make best efforts to comply with the policy in the future. Additionally, an updated attestation statement is required thereafter on an annual basis. Further, directors are required to notify the chair of the board of a potential conflict with a proposed transaction sufficiently in advance so that the board can be provided with full analysis and information before acting on the transaction. The interested director will refrain from voting on interested transactions, and the transaction will not be entered into unless a majority of the directors then in office determines and adopts a resolution stating that the transaction is for the benefit of, and is fair and reasonable to, shca, and that it appears that shca cannot obtain a more advantageous arrangement with reasonable effort under the circumstances.”

“Copies of the organization's governing documents and financial statements are available upon request. Copies of the conflict of interest policy are generally not available for public inspection, but requests will be evaluated on a case-by-case basis.”

“All directors received compensation during the tax year for services rendered to shca or a related organization as employees of these organizations and not in their capacities as directors of shca.”

“The mission of stanford health care advantage ("shca") is to facilitate the provision of health care to elderly individuals and other individuals eligible for governmental assistance due to special disabilities, groups identified by the united states congress and the irs as having special health care needs. In furtherance of this mission, shca operates a medicare advantage plan in san mateo, santa clara and alameda counties, california for medicare beneficiaries under a contract with the centers for medicare & medicaid services ("cms").”

“Shca operates a medicare advantage plan in san mateo, santa clara and alameda counties, california for medicare beneficiaries under a contract with the cms. As a medicare advantage plan, shca provides elderly or disabled medicare-eligible individuals with a broad range of health services. Shca operates as an integral part of the broader charitable mission of its sole corporate member and parent organization, stanford health care ("shc"), an organization that is exempt from federal income taxation under section 501(c)(3) of the code and is a public charity under section 509(a)(1) and section 170(b)(1)(a)(iii) of the code. Shca promotes the health of the community and provides relief of distress by arranging for the provision of health care services to medicare beneficiaries and also serves as an integral part of shc and its health care mission.”

“Other changes in net assets: equity transfers from related party $16,100,000.”