Mccready Foundation Inc.

“Changes to organizational documents on january 1, 2020, (the nanticoke acquisition date), peninsula regional health system acquired and became the sole corporate member of mid-sussex medical center, inc. And nanticoke memorial hospital. On march 1, 2020, (the mccready acquisition date), peninsula regional health system acquired and became the sole corporate member of mccready foundation, inc.”

“Members/stockholders peninsula regional health system is the sole corporate member of the organization.”

“Election of members of governing body in its capacity as the sole corporate member of the organization, peninsula regional health system has the ability to elect members of the organization's governing body.”

“Approval of governing body decisions as the sole corporate member, peninsula regional health system also has the ability to approve major expenditures and long-term borrowings of the organization.”

“Review process of form 990 the completion of the organization's form 990 has been delegated to the agent of the organization by the president of peninsula regional health system, the parent corporation of both peninsula regional medical center and the organization. The agent of the organization is also the chief financial officer of the medical center. The organization's form 990 is reviewed by the president of the health system. A copy of the form 990 was made available to all members of the governing body prior to the filing with irs.”

“Monitoring and enforcement of conflict of interest policy a conflict of interest policy has been adopted by the organization's board of directors/executive committee. The board of trustees is required to disclose annually, in writing, any and all interests which they or any immediate family member may have in any business entity which has or seeks a contractual or competitive relationship with the organization. The board will have the authority to determine if a violation has occurred and whether any interest which should be disclosed should disqualify a director from participating in any specific board discussion or board membership.”

“Process for determining compensation compensation of the organization's president is determined by the president of peninsula regional medical center, a related tax-exempt organization identified in form 990, schedule r. The organization's president is an employee of the medical center and receives all compensation from this related organization.”

“Availability of documents to public the organization's governing documents, conflict of interest policy, financial statements, and form 990 are available to the public upon request to the organization or the public information office of peninsula regional medical center at 100 east carroll street, salisbury, md 21801.”

“Organization discontinued providing various services including inpatient services effective 02/2020. Hospital changed is assignment from a hospital to a freestanding medical facility effective 03/01/2020.”

“Fees for professional services: program service expenses 2,331,916. Management and general expenses 419,390. Total expenses 2,751,306.”

“Restructuring adjustment 2,239,595.”