Caromont Medical Group Inc

“The sole member of the corporation is caromont health, inc., a north carolina not-for-profit corporation.”

“The board of directors consists of six (6) members; all of whom are appointed by the board of directors of caromont health. Three (3) members also serve as members of the caromont health board, one (1) member is the chair of the physician leadership council, one (1) member is a member of the physician leadership council, and one (1) member is a community member who is an active recipient of services provided by caromont medical group.”

“The following powers of the corporation shall be reserved to caromont health, inc., the parent corporation and holding company of the corporation: (a) financial powers, including the power to approve an operating budget for the corporation, power to approve compensation plans, and power to assume debt on behalf of the corporation; (b) governing powers, including the power to approve all changes to the governing documents of the corporation and power to approve the mission, vision and values of the corporation; and (c) strategic powers, including the power to approve all certificate of need applications which the corporation may file in any state, and the power to approve all sale or lease transactions of the corporation.”

“The organization's form 990 was reviewed by the audit finance investment committee of the board of directors of caromont health and by the full board before the form was filed with the irs.”

“Members of the board of directors, members of senior leadership, any physician holding a leadership or administrative position within the organization, directors, managers and all staff members of the purchasing and marketing departments and any other department deemed to have material decision making responsibilities on behalf of caromont health shall fully and truthfully complete a questionnaire concerning potential and actual conflicts of interest annually. Such questionnaire shall identify the individual's obligation to immediately make the corporate responsibility officer aware in writing of any potential or actual conflicts of interest as they may arise and contain said individual's agreement to abide by all terms and conditions of this policy as a condition of retaining their position. Such questionnaires are reviewed annually by the chief legal officer and the corporate responsibility officer. Questionnaires submitted by directors are reviewed annually by the nominating committee of the board.”

“The ceo, cfo, coo, cmo and chief legal officer are compensated for their services by caromont regional medical center, a subsidiary of caromont health, inc. The compensation of all caromont executives for each year is established by the compensation committee of the caromont health board of directors, based on guidance and opinions provided by an independent, third-party compensation consultant. A majority of the board members who serve on the compensation committee are independent and all are free from any conflict of interest. Any compensation committee member who develops a conflict of interest during his/her term with respect to the discussion of any executive's compensation does not participate in the discussion or decision-making by the remaining members of the compensation committee. The compensation committee retains jurisdiction over the total compensation package for executives and reviews executive benefits and perquisites as well as total cash compensation. Compensation for the ceo is established through a process of performance evaluation, comparison with comparable market data and determination by the compensation committee of acceptable salary range and percentile ranking. All compensation decisions for the ceo are approved by the compensation committee, as long as the compensation decisions are consistent with the executive compensation philosophy. The process for determining compensation for executive management, utilizes compensation surveys and studies. Full collected compensation information and any compensation opinions provided during these processes will be kept with the compensation committee or board minutes, as applicable.”

“The organization's form 990 is made available to the public upon request.”

“At this time, the organization's governing documents and conflict of interest policy are not made available to the public. The entire organization's combined financial statements are made available upon request.”

“Equity transfer 19,755,897. Gasb 85 adjustment -3,448,152.”

“Responsibility for oversight of the audit: this process has not changed from prior years.”