Beebe Medical Foundation

“Beebe medical center is the sole member of beebe medical foundation.”

“Beebe medical center, inc. Has the power to approve the election of any director of the foundation and at least a simple majority of the foundation's board must also serve on the board of beebe medical center, inc.”

“The following actions require the approval of beebe medical center, inc.: (1) any amendment of the foundation's charter, certificate of incorporation, or bylaws; (2) election or removal of any director, including replacement of directors in the event of a vacancy; (3) any sale or lease of foundation property that has been donated; (4) any borrowing on behalf of the foundation; and (5) dissolution of beebe medical foundation.”

“The form 990 is reviewed internally by management of beebe medical center, inc. The return is reviewed by a third party accounting firm, grant thornton advisors llc. A copy of the form 990 was provided to the governing body before it was filed.”

“Beebe medical foundation adopted the formal written conflict of interest policy of beebe medical center, inc. Conflict of interest statements are required annually for all board members, executives and all management team members. Non-management team members are required to submit a conflict of interest statement upon hire. Conflict of interest statements are reviewed by the board and audit committee for the existences of any adverse interest. If any conflict arises the interested party is prohibited from participating in the deliberations and decisions in the transaction.”

“The board of directors of beebe medical center and beede medical foundation approve the compensation of the executive director and key employees (if any). An independent consultant is utilized to compile salary information for this position. Minutes of the meetings are maintained to document deliberations and decisions.”

“The organization makes its governing documents, conflicts of interest policy and financial statements available upon request.”

“Beebe medical foundation funded capital equipment purchases for beebe medical center as follows: $2,733,503 family residency renovations & equipment; $1,451,188 center for breast health capital renovations; $483,858 ct system for the specialty surgical hospital; $427,479 for lewes campus renovations; $96,831 for the phlebotomy room renovations; $53,998 for stroke software; $47,968 for women's health services bassinets & sleeper chairs; $32,302 for margaret h. Rollins school of nursing capital items; and $79,966 for other misc. Capital items for various departments. Beebe medical foundation funded expenses for operational expenses paid by beebe medical center as follows: $1,000,000 for usda covid grant; $278,930 for de arpa grants, $152,322 for dsamh grant; $83,690 for samhsa grants; $56,657 for dema security grants; $50,000 for a behavioral health consultant; $52,206 for mobile health unit supplies; $40,000 for a family residency program consultant & feasibility report; $33,495 for margaret h. Rollins school of nursing faculty professional development; $74,620 for other misc. Operational expense items for various departments. Beebe medical foundation funded expenses for programs managed by beebe medical center as follows: $65,000 for tunnell cancer center patient special needs and $120 for population health patient special needs. Other expenses of: school of nursing & bmc scholarships of: $48,300; grants of: 45,023.”

“Endowment transfers -66,127.”