St Francis Foundation

“St. Francis hospital has contracted with ima consulting for the provision of interim ceo services. In calendar year 2013 st. Francis hospital paid $304,377 to ima consulting for brian dietz's services as interim ceo of st. Francis hospital and st. Francis foundation. St. Francis hospital does not know how much brian dietz received as wages from ima consulting in calendar 2013. St. Francis hospital has contracted with ima consulting for the provision of interim cfo services. In calendar year 2013 st. Francis hospital paid $332,438 to ima consulting for edward maher's services as interim cfo of st. Francis hospital and st. Francis foundation. St. Francis hospital does not know how much edward maher received as wages from ima consulting in calendar 2013.”

“The sole member of st. Francis foundation is st. Francis hospital, inc. See line 7 for additional information.”

“St. Francis hospital is the sole member of st. Francis foundation. St. Francis hospital has the right to appoint all persons to the board of directors of st. Francis foundation.”

“As sole member, st. Francis hospital must approve certain decisions of the governing body, including the strategic plan, annual capital plan, and annual operating budget. St. Francis hospital must also approve significant changes such as a merger, dissolution, sale of assets in excess of certain limits, a material change in mission, and modifications to governing documents.”

“St. Francis foundation's form 990 was reviewed by management. Management review took place before the form 990 was filed with the internal revenue service. The board receives a copy of the return in its final form before it is filed with the internal revenue service.”

“St. Francis foundation has adopted catholic health east's policy 103, which sets forth the organization's conflict of interest policy and processes. Annually, all those serving st. Francis foundation in a fiduciary capacity, including directors, officers, and key employees receive a copy of the policy and annual disclosure statement to be completed. Disclosures of financial interest or other reportable circumstances as defined in the policy are submitted and reviewed by the organization's ceo and board chair. Summary information is reported to the entire board and is available to the board throughout the year as business comes before the board or management for action. The policy contains a continuing affirmative obligation on all affected individuals to disclose compensation or other circumstances throughout the year which may rise to the level of an actual or apparent conflict. The determination of whether a disclosed financial or other interest constitutes a conflict of interest is made by the board or an appropriate committee thereof comprised of disinterested persons and without the participation of the affected individual except to respond to questions about the disclosure. The policy further addresses the procedure for the board's further consideration of the proposed transaction/matter without the participation of the affected person and the documentation of the proceedings. Lastly, the policy addresses potential disciplinary action for violations of the policy. The policy is available to the public upon request.”

“St. Francis hospital and its affiliates have adopted catholic health east's process for determining compensation which includes the following: the board has an independent committee review and approve all elements of remuneration for all disqualified parties, as well as other key management. The board/committee has an established compensation philosophy which details the objectives of market positioning and pay elements. The committee engages with external consultants to provide market data comparing the organization's roles to similarly sized health systems utilizing both title and job content comparisons. The committee reviews the market analysis, approves any salary adjustments for the executive population, considers both reasonableness and effectiveness of all remunerative programs and establishes the detailed performance expectations which are incorporated into the incentive plan. All of these discussions and decisions are documented through the provision of meeting minutes.”

“St. Francis foundation is a subsidiary organization in the trinity health system. Trinity health makes certain of its key documents available to the public on its website, www.trinity-health.org, in the "about us" section. In this section, the consolidated audited financial statements are publicly available. St. Francis foundation's governing documents and conflict of interest policy are available upon request.”

“Misc. Purchased services : program service expenses 0. Management and general expenses 0. Fundraising expenses 57,532. Total expenses 57,532.”

“Other change in net assets -313,673.”

“St. Francis foundation's financial statements were included in the fy14 consolidated financial statements of trinity health, which were audited by an independent public accounting firm.”