Nebraska Methodist Hospital Foundation

“Nebraska methodist health system inc., a nebraska not-for-profit corporation, is the sole member of the nebraska methodist hospital foundation. The member has the right to approve all amendments to the articles of incorporation and bylaws of the corporation, to approve any dissolution, consolidation or merger of the corporation and other rights and powers specified in the articles of incorporation or bylaws.”

“The nebraska methodist health system, inc. Has the right to confirm the election of directors of the nebraska methodist hospital foundation board of directors.”

“Nebraska methodist health system, inc., a nebraska not-for-profit corporation, has the right to approve all amendments to the articles of incorporation and bylaws of the nebraska methodist hospital foundation and to approve any dissolution, consolidation or merger of the corporation.”

“Prior to filing the form 990, a copy is provided to the foundation's audit committee who have the opportunity to review the return in detail and to ask questions of staff and the external expert during the audit committee meeting or privately. The audit committee reports to the board of directors on their review of the form 990. The cfo makes a copy available for any member of the board desiring to review the tax return in person. Information for the form 990 is gathered from appropriate responsible parties throughout the organization including finance, human resources and corporate compliance. The return is subjected to a detailed tie-out and review by the finance department. It is reviewed by external tax advisors and has a final review by the chief financial officer for the nebraska methodist health system and the organization's chief executive officer.”

“An annual questionnaire is sent to all officers, directors and key employees pursuant to the methodist health system conflicts of interest policy which requires the disclosure of relationships, not just financial, that could give rise to conflicts with the organization. A board committee meets annually to review all potential conflicts identified through the surveys. Should a decision come to the board with an identified conflict, the officer, director, or key employee is not permitted to vote or use personal influence on the matter and is not counted in determining a quorum for a meeting at which the matter is discussed. A potential conflict of interest, once identified, must be evaluated on a case by case basis. In order to approve the transaction which involves a direct conflict of interest, the board must first find, by majority vote of directors not involved in the conflict, at a meeting at which a quorum is present, that the arrangement or transaction is in the best interests of nebraska methodist hospital foundation and/or its other nebraska methodist health system affiliates, is fair and reasonable, and after investigation, the directors have determined that a more advantageous transaction or arrangement cannot be obtained with reasonable effort under the circumstances.”

“Methodist health system retains an independent consultant to review all officer compensation for each affiliate. Under this process, market data on compensation is gathered and analyzed, and compensation ranges are set. The information is then provided to the compensation committee of the board of the nebraska methodist health system inc., a nebraska non-profit corporation. All officer compensation is reviewed, evaluated and approved by this committee.”

“The form 1023 was filed prior to 7/15/87 and need not be made publicly available. A copy of the irs determination letter will be provided on request.”

“The organization does not make these documents separately available to the public. However, the amended articles of incorporation are available through the nebraska secretary of state's website. The conflict of interest policy is distributed to all members of the board of directors and employees. Financial information is available to the public through the irs form 990. The organization also contributes information regarding community benefits it provides as part of the methodist health system annual community benefit report. The report is available to the public on the website, www.methodistchart.org. In addition, the foundation provides reports of ongoing supported programs on their website www.methodisthospitalfoundation.org.”

“Linda burt, vice president of finance and cfo of nebraska methodist health system, is a fulltime employee of nebraska methodist health system inc. Her average hours per week have been allocated among the entities that comprise the nebraska methodist health system. Cynthia peacock is a key employee of nebraska methodist health system and is assigned fulltime duties as president of nebraska methodist hospital foundation. Salary and benefits are included in allocations.”

“The payroll system for nebraska methodist hospital foundation is handled by a common agent, nebraska methodist health system inc. All w-2 forms are issued under the tax identification number of nebraska methodist health system. All required federal employment tax returns were filed by nebraska methodist health system. Wages and benefits shown in the form 990 are actual wages associated with nebraska methodist hospital foundation personnel.”

“Transfers to/from affiliates 2,110,727. Change in value of cruts -218,827.”