Princeton Community Hospital Foundation

“The Form 990 is completed by the West Virginia United Health System tax team and reviewed by the VP of Finance. Upon approval, the Form 990 is disseminated to all board members for final review. Once reviewed by the board, the Form 990 is then submitted to the IRS.”

“On an annual basis, education is provided to all officers and board of directors with respect to their fiduciary responsibilities and what may or may not be a conflict of interest. The education is provided by general counsel. All officers and board of directors are required to complete an annual conflict of interest and disclosure. These statements are maintained by the general counsel and specifically reviewed as necessary and presented to the board of directors.”

“The compensation of CEOs is determined by the WV United Health System Compensation Committee based upon a salary and benefit survey prepared by an independent company using data of comparable facilities. This information is provided to the compensation committee which is made up of independent board members who are then responsible for setting the compensation packages offered to each executive, ensuring that the compensation package does not exceed fair market value based on the data from the consultant group. The minutes of the compensation committee are contemporaneously documented and retained. A full compensation survey was completed in 2023 for 2024 compensation amounts. The compensation of all officers at the Vice President level and below is determined based upon a salary and benefit survey prepared by an independent company using data of comparable facilities. This data is then interpreted and provided to an independent compensation committee. The independent compensation committee then uses this data to determine a fair and reasonable compensation package. All relevant data as well as minutes from each meeting are retained.”

“All governing documents, policies and financial information are made available to the public upon request, and can be transmitted 1 electronically, 2 by mail or 3 by visiting the Foundation office at 111 Morrison Drive, Princeton, WV.”

“Program Service Expenses 45,901, Grants and allocations 0, Revenue 0 The Foundations Lights of Love Fund donated 37,542 in new furniture for patient rooms in Princeton Community Hospitals Womens Center and the Employees That Care Fund provided 8,359 in furniture for the Medical Staff Services Office.”

“Other changes in net assets consist of 18,891 of special events expense that is recorded as an offset to revenue on the Form 990 and 1 rounding.”