Albany Medical Center Group

“Kaaterskill commons, inc. Engages catskill mountain housing for management and bookkeeping services. The other subordinate organizations respond in the negative to line 3.”

“Glens falls - effective 4/1/2024, gfh further affiliated with the albany med health system creating a shared governance structure. As of this date, gfh no longer has a board of governors with any voting power.”

“Members and governance albany med health system is the sole corporate member of the subordinate organizations included in the group filing.”

“Members and governance albany med health system retains seats on the board of trustees for the subordinate organizations and has the power to appoint members of the board of trustees.”

“Members and governance albany med health system approves the annual operating budget, approval of changes in senior management, significant litigation settlements as well as updates to the governing documents.”

“Form 990 review process the board of directors, through its audit committee, engages a prominent accounting firm, kpmg, to conduct a review of its tax return for compliance with irs regulations. The audit committee engages kpmg as paid preparer to ensure accuracy of filings and raise for discussion issues or concerns that are considered significant. Issues or concerns are raised with management and brought to the attention of the audit committee throughout the year as warranted and required. The review of the tax return includes a review by senior management of albany medical center and a presentation at a meeting of the audit committee of the board of directors of albany medical center. The finance committees of saratoga hospital, glens falls hospital, and columbia memorial hospital review the return for accuracy of their respective hospital's information and disclosures. Additionally, the complete boards of each subordinate entity included in the group return receive a copy of the form 990 for review prior to its filing.”

“Albany medical center hospital and affiliates: the board of directors of the albany med health system adopted a system-wide conflict of interest policy applicable to all entities over which the albany med health system, directly or indirectly, has direction and control. All candidates for board membership and board committee membership receive a copy of the albany med health system conflict of interest policy and a link to the electronic conflict of interest questionnaire for completion. Actual or potential conflicts reported are reviewed by the committee on audit and compliance of the board of directors and appropriate action is taken to mitigate conflicts. Upon hire, all employees receive compliance education which explains the conflict of interest policy and the requirement to report any actual or potential conflicts. All employees also receive refresher education regarding the policy and a reminder about the reporting requirement as part of their mandatory annual education. All employees are responsible for notifying system management of any potential conflicts in addition to responding to request for information if requested. Persons holding significant management positions receive a link to the electronic conflict of interest questionnaire for completion. Any conflicts which are reported or discovered are reviewed by the albany med health system corporate compliance and audit department and appropriate action is taken to mitigate the conflict. Employees who violate the conflict of interest policy are subject to corrective action following the authorized administrative and governance processes of the system and its affiliates.”

“Albany medical center hospital and affiliates: the compensation committee of the board of directors (committee) establishes compensation for the president and chief executive officer of the organization, all executive vice presidents and other top management officials who report directly to the president and chief executive officer, subject to approval by the board of directors. The committee uses professional compensation advisors who are capable of rendering independent advice and independent market surveys. The committee targets the market median (50th percentile) for cash compensation; benefit programs are intended to be competitive. After the compensation program is determined, the committee-approved recommendation is forwarded to the board of directors for its consideration and approval, and that is contemporaneously substantiated. Columbia memorial hospital: performance review and recommendations related to salary are undertaken by the compensation committee of the board of trustees on an annual basis. The compensation committee is comprised of select members of the board of trustees who may employ outside consultants, use industry standards, benchmarking data, etc. To formulate conclusions. Saratoga hospital: on an annual basis, the executive committee reviews the performance of the president/chief executive officer (ceo) and makes a base salary recommendation to the full board. The executive committee performs this task using a target percentile rank on a scale of amounts paid to similarly situated executives in the marketplace as measures by external benchmark surveys. Additionally, the executive committee factors in relative skill mix, experience, competence and overall performance. The executive committee sets annual performance criteria the ceo must meet in order to qualify for incentive compensation and any recommendation for additional compensation is made annually. The ceo is responsible, with the oversight of the executive committee, for determining the base compensation for all other executives in the organization. These base salaries are also determined using a target percentile rank on a scale for executives situated similarly by position within the marketplace, with acceptable exceptions based on skill mix, experience and/or scope of responsibility. Incentive compensation for all other executives is determination by the ceo and based on organizational and individual performance measures and outcomes. For both ceo and executive compensation, the requirements for invoking a rebuttable presumption of reasonableness in accordance with irs intermediate sanction regulations are used as a guideline, to the extent practicable. Glens falls hospital: glens falls hospital (gfh) is committed to developing and maintaining a total compensation program that is competitive with programs offered by other health care organizations that are comparable to gfh in revenue, structure, mission and scope of services. The compensation philosophy includes: base salary ranges positioned in the 50th percentile of a national and regional peer group, annual incentive opportunities tied to performance goals established by the board, benefits delivered in the 50th percentile of a national peer group and total compensation positioned at approximately the 50th percentile for expected performance, and somewhat above that for exceptional performance. Executive pay is reviewed annually by a third-party consultant. This review includes a comparison of gfh executive pay practices with national and regional benchmark studies as appropriate. The consultant is engaged directly by the gfh board of governors and reports their findings to board personnel committee for review and action. As of april 2024, gfh no longer has a board separated from albany medical center hospital & affiliates. Executive compensation is the responsilibity of amc hospital & affiliates.”

“Other organization documents publicly available documents are made available upon request.”

“Joint venture lines 16a and 16b have been answered in the affirmative due to the activities of columbia memorial hospital and glens falls hospital. The other subordinate organizations respond in the negative to line 16a. Form 990, part vi, section c, line 20 the person in possession of the books and records for the subordinate organizations are as follow: columbia memorial hospital and affiliates: name: allison henderson address: 71 prospect ave, hudson ny, 12534 phone: 518-828-7601 glens falls hospital: name: craig letourneau address: 100 park street, glens falls, ny 12801 phone: 518-926-5013 saratoga hospital and affiliates: name: chris jenkins address: 211 church street, saratoga springs, ny 12866 phone: 518-587-3222 visiting nurse association & affiliates: name: james dorato iii address: 35 colvin avenue, albany ny 12206 phone: 518-489-2681”

“Organization's mission: an academic health sciences center whose responsibilities are: to educate medical students, physicians, biomedical students and other health care professionals to meet future primary and specialty health care needs of the region and nation; to foster biomedical research that leads to scientific advances and improvement of the health of the public; and to provide a broad range of patient services to the people of eastern new york and western new england. The mission is accomplished through commitment to the values of quality, excellence, service, collaboration, integrity and fiscal responsibility. We will continue to develop as a nationally recognized academic health science center. In collaboration with the community, we will provide excellence in education, research, and patient care programs. Our vision for the future includes a commitment to working with other providers to make comprehensive and advanced clinical services available to the public while emphasizing quality and service. We will be a leader in developing an innovative health care delivery system and educational consortium that responds to the needs of the community. We will sustain a working and learning environment that fosters teamwork and commitment to shared values and goals. Through sound fiscal management, we will be able to enhance our programs to be on the forefront of medical knowledge and innovative patient care.”

“The group organization has indicated 'no' to part line 3b because not all subordinate organizations included in the group have a form 990-t filing requirement for the tax year.”

“The subordinate organization albany medical college is the only subordinate that has a signature authority over a financial account in a foreign country. Form 990, part v, line 6a the subordinate organization albany medical center foundation is the only subordinate that has gross receipts over $100,000 and solicited contributitions that were not tax deductible. Form 990, part v, line 7a the subordinate organizations albany medical center foundation and saratoga care, inc are the only subordinates who received payments in excess of $75 partly as a contribution and as a good or service. Form 990, part v, lines 8, 9a, & 9b the subordinate organization columbia memorial hospital is the only subordinate maintaining a donor advised fund.”

“Pension related changes 8,373,802. Fair value of interest rate swaps -97,386. Interest in foundation 3,028,179. Prior period adjustments 2,998. Intercompany receivables -1,454,803. Other revenue and expense adjustments 2,998,074.”