Unknown Organization

“Three employees (ceo, coo, cfo) are employed by the charlotte-mecklenburg hospital authority d/b/a carolinas healthcare system ("chs") and leased to the organization through a management agreement.”

“Summary of significant changes to governing documents stanly regional medical center effective march 1, 2014, the charlotte-mecklenburg hospital authority ("cmha"), a north carolina hospital authority that as a political subdivision of the state of north carolina, is not subject to federal income taxes, became the sole member of stanly health services, inc. ("shs"), a north carolina nonprofit organization exempt under section 501(c)(3). Because the organization's sole member is shs, cmha is now the ultimate parent of the organization. The following significant changes were made to the organization's governing documents in 2014: - the governing documents indicate that shs, a wholly owned subsidiary of cmha, is the sole member of the organization, and that cmha is the ultimate parent of the organization. - a new exempt purpose of the organization was added: to act as an integral part and instrumentality of cmha, a vertically integrated healthcare delivery system organized as a hospital authority under the north carolina hospital authorities act. - the composition of the board of directors was changed from a minimum of twelve, to a board composed of three to ten members, as fixed by the organization's sole member, shs. Until march 1, 2016, two of the organization's directors must have been directors of shs as of february 28, 2014; otherwise, only officers or employees of cmha may serve as directors. - the organization's sole member, shs, now has the right to appoint the organization's directors and to remove directors at any time without cause. Previously, shs had the right to appoint directors and directors could be removed for cause by a 2/3 vote of the organization's board of directors or by shs. - the officers of the organization now consist of a president, a secretary, a treasurer and such vice presidents, assistant secretaries, and other officers as the board may from time to time appoint. Previously, the board of directors appointed the president and ceo, who appointed other officers. - the following fundamental actions require action by or approval of shs and cmha: (a) amendment of the organization's bylaws or articles of incorporation; (b) sale of substantially all of the organization's assets; and (c) merger or dissolution of the organization. Previously, shs's approval was required to amend the organization's bylaws. - cmha is given the right to: (a) prepare, control or approve the organization's budgets; (b) require audits of the organization's books and other records; (c) control or approve the organization's investments, expenditures, debts and liabilities; and (d) monitor the organization's daily operations. - upon dissolution of the organization, its assets are to be distributed, to be used for a public purpose or for one or more exempt purposes within the meaning of section 501(c)(3), to cmha or any corporate entity controlled by cmha whose income is exempt from federal taxation as an integral part of cmha, under section 115 of the internal revenue code or under section 501(c)(3). If cmha is not then in existence, its income is not then exempt from taxation, or no entity controlled by cmha whose income is exempt from federal taxation is then in existence, the assets of the corporation are to be distributed for one or more exempt purposes within the meaning of section 501(c)(3) or to the federal government, a state or local government, or a political subdivision thereof, for a public purpose.”

“Cfo & controller will review the form 990. After internal review, the form 990 is distributed electronically to board members via director's desk for review prior to filing.”

“Each member of the board of directors files a conflict of interest statement annually which is reviewed by the corporate compliance office and the board chair and is maintained by the corporate secretary. Members with potential conflicts are asked to excuse themselves from voting on matters that are of potential conflict. Directors and employess with purchasing responsibilities are also required to complete a conflict of interest statement which is maintained by the corporate compliance officer.”

“Chs, which leases the ceo, cno, cmo and cfo to the organization through a management agreement, conducts an annual compensation that benchmarks the salaries of those individuals to the salaries of similarly situated service providers.”

“These documents are made available to the public upon request.”

“Unrecognized pension expense transfers to affiliates, net -3,761,205. Equity earnings -454,108. Assets released from restrictions 130,440. Assets released from restrictions 130,440. Change in accounting standards from fasb to gasb 3,951,963.”