The Hsc Foundation

“Members or stockholders children's national medical center (children's national) is the sole corporate member of the organization.”

“Member's power to appoint one or more members of the governing body effective september 1, 2019 and for a period of five years thereafter, provided however that as of july 2, 2024, this entity merged into its sole corporate member, children's national, the members of the organization's governing body together with the board of children's national appoint the members of the organization's governing body. After september 1, 2024, children's national had the power to appoint members of the organization's governing body.”

“Member's authority to approve certain governance decisions on september 1, 2019, and by means of an affiliation agreement, the organization affiliated with children's national. Effective as of that date, the organization amended and restated its bylaws to comply with children's national's system of governance. Under children's national's system of governance, children's national retains certain authority over subsidiary entities. The retention of authority includes items such as: the authority to amend a subsidiary's governing documents, authorization of the sale of substantially all assets, appoint/remove officers and directors, approve budgets, set signature authority, and adopt an enterprise-wide compliance plan. The affiliation agreement and the organization's amended and restated bylaws anticipate a five-year integration period, during such period the organization and children's national will share responsibility for certain authorities that are otherwise set under the system of governance. After september 1, 2024, children's national had sole responsibility for authority that is reserved under the system of governance. As of july 2, 2024, this entity merged into children's national.”

“Review of form 990 by governing body once the form 990 and all schedules have been prepared by the organization's professional tax services provider, the relevant committees of the organization, entity operational leadership, and finance management review applicable portions of the form 990. The hsc foundation posts a copy of the form 990 to the hsc foundation board's portal prior to filing with the irs. The completed form 990 is also made available to the board of children's national prior to filing with the irs.”

“Conflict of interest policy monitoring & enforcement the hsc foundation has formally adopted the conflict of interest policy of its parent, children's national. Children's national and its subsidiaries asks that each officer, director, and key employee complete a conflict of interest form at least every year. In addition, each officer, director, and key employee is instructed to amend the conflict of interest form immediately upon a change in status of any of the questions on the form. These forms are reviewed annually by the chief legal officer and conflicts of interest are noted. The children's national board makes a determination, based on the recommendation of the chief legal officer as to which persons should be considered "interested parties" based on the criteria set forth in the board's governance policy. Form 990, part vi, section b, lines 13 & 14: governing policies the hsc foundation is governed by the policies of its parent, children's national. These policies include a written whistleblower policy and a written document retention and destruction policy.”

“Process for determining compensation the hsc foundation relies on its parent, children's national, to determine compensation for hsc foundation's president, other officers, and key employees. Children's national used an executive compensation committee, independent compensation consultant, compensation survey or study, and approval by the people culture and compensation committee of the board to establish compensation.”

“How documents are made available to the public the governing documents, conflict of interest policy, and financial statements are all available to the public upon request.”

“The organization is not reporting any compensation information on form 990, part vii in compliance with the irs instructions for short-year filers.”

“Net asset transferred to affiliates upon legal merger -94,351,217.”