Reading Health System Foundation

“The reading hospital foundation form 990 is prepared by hospital staff, reviewed by an external tax advisor and posted on a board portal for board members to view prior to filing. Members are alerted to information and notices. A copy of form 990 is available upon request to any board member unable to view from the portal.”

“It shall be the policy of the hospital and correspondingly reading hospital foundation to require each board member to submit in writing to the chief executive officer a list of business or other organizations of which the member or member's spouse is an officer, director, member employee or owner with which the company might reasonably enter into a relationship or a transaction in which the board member would have conflicting interests. Each year a copy of the written statement will be sent to the board member for updating and resubmission and by which the board member shall confirm his or her awareness of this policy.”

“The independent compensation committee is responsible for the review and approval of all compensation and benefits provided. The committee works with an independent compensation consultant to prepare and review in advance comprehehsive data showing the compensation provided by similarly situated organizations for functionally similar positions.”

“There is an executive compensation study completed by the compensation committee. The executive committee of the board reviews all executive staff wages.”

“The organization does not make its governing documents, conflict of interest policy and financial statements available to the public.”

“Reading health system foundation changed its name to reading hospital foundation. Because the irs acknowledged the name change prior to the due date of the return, the return was filed under the new name noting the former name in the "doing business as" section on page 1 of form 990.”