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 llp. 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.”