Washington Adventist Hospital Foundation Inc

“Washington adventist hospital foundation, inc. (wahf) filed an articles of dissolution in november 2023 and there are no longer any board members as of 12/31/2023. A final form 990 is being filed for the cy2024, since wahf's bank account remained opened in 2024.”

“Washington adventist hospital foundation, inc. (wahf) filed an articles of dissolution in november 2023 and there are no longer any board members as of 12/31/2023. A final form 990 is being filed for the cy2024, since wahf's bank account remained opened in 2024.”

“By laws, article ii: the governing body of the corporation shall be a board of trustees. The number of trustee shall be not more than five (5).”

“The board of trustees of adventist healthcare, inc. Appoints the members of washington adventist hospital foundation, inc. Governing body.”

“The board of trustees approves all actions of management.”

“Prior to filing the form 990 with the irs, the return was reviewed by the organization's finance department and executive management team. Also, prior to filing the form 990 with the irs, all members of the board are provided a copy of the form 990 for their review.”

“Pursuant to the organization's conflict of interest policy, each facility board member, officer, director and any employee in a position that requires coordination and/or negotiation with contractors or supplies, is required on an annual basis to disclose any business or financial relationship outside of the organization. An actual or potential conflict of interest, or the perception or appearance of a conflict of interest, occurs when a covered person is in a position to influence a decision that may result in a personal gain for that employee, a relative, or other person living in the same household, as a result of adventist healthcare's business activities. A relative is defined as any person who is related by blood or marriage, or whose relationship with the covered person is similar to that of persons who are related by blood or marriage. No "presumption of guilt" is created by the mere existence of a relationship between an adventist healthcare employee and an outside firm or business endeavor, or other potential conflict of interest. However, if a covered person has any business, financial, or other relationship with any organization whereby the existence of that relationship either creates a conflict of interest or is perceived to create a conflict of interest, the covered person must disclose this relationship to the designated senior manager, or governing board, as the case may be, at the location where the employee is assigned. The senior manager will review the relationship, make comments and recommendations, and forward all documentation to the organizational integrity committee for a final decision. Compliance with the conflict of interest policy is monitored and enforced by the human resources department, organizational integrity department and the legal department.”

“When setting compensation for executives, officers, key employees, and all employees, the organization fully complies with the procedural safeguards embedded in the irs regulations. Compensation is entirely set by a committee of the board of trustees. In setting compensation, the governing board committee relies upon market comparability data provided by an independent outside compensation consultant. To ensure reasonableness, compensation is targeted at the 50th percentile of the natural market. General explanation: employees of any of the adventist healthcare inc. And affiliated tax exempt entities in the state of maryland (including white oak medical center foundation) are paid through a common paymaster, adventist healthcare, inc., and are reported on its form 941. Salary and benefit expenses reported on their respective returns are actual charges related to the employees working on the specific tax exempt entity. However, all foundation's staff is recorded at the adventist healthcare white oak medical center, a division of adventist healthcare, inc. Compensation included regular base salary, bonus, paid time off cash out (only for employees who leave our organization), taxable relocation allowance, holiday gift, retroactive compensation adjustment, bereavement leave, education, and withdrawal of deferred compensation, as applicable. The same and non-additive compensation and employment benefit plan contribution amounts were also disclosed in the adventist healthcare inc.'s related entities returns. Vendor payments for any of the adventist healthcare, inc. And related entities in the state of maryland are made through a common paymaster, adventist healthcare, inc.”

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

“Transfer of net assets through business combination -2,959,638.”