Wilmed Generations Inc

“A draft of form 990 is provided to the executive director and accountant who review the draft prior to filing with the irs.”

“Once a year, each person is required to review and sign the conflict of interest policy. This is one of the annual modules that must be completed each year. It ensures that employees are familiar with the policy. If there is a conflict of interest, the executive team is notified and a discussion should occur at that time to determine the extent, whether potential or actual. Board members with conflicts are recused from voting.”

“At least every two years, an independent firm is utilized to determine the appropriate compensation for the executive team. The board determined a strategy and guidelines as to what percentile at which they would place salaries for the excutive team. Upon receipt of the independent data, the hr committee of the board reviews the data and determines if any adjustments should be made. This process last took place during 2012.”

“The organization makes its governing documents, conflict of interest policy and financial statements (which are included in the audit of the combined financial statements of wilmed healthcare foundation) available to the public upon request.”

“Effective march 1, 2014, wilmed generations, inc. And wilson medical center, inc. Entered into a contribution agreement with dlp healthcare, llc to form a joint venture, dlp wilson holding company, llc, that would operate the hospital and nursing home. Wilmed generations, inc. Therefore ceased priving health care services on february 28, 2014. The joint venture continues to provide health care services to the residents in the wilmed generations, inc. Service area.”

“Medical services: program service expenses 329,162. Management and general expenses 0. Fundraising expenses 0. Total expenses 329,162. Health services: program service expenses 8,141. Management and general expenses 0. Fundraising expenses 0. Total expenses 8,141. Lab fees: program service expenses 8,212. Management and general expenses 0. Fundraising expenses 0. Total expenses 8,212. Nutrition fees: program service expenses 2,196. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,196. Nursing fees: program service expenses 0. Management and general expenses 10,000. Fundraising expenses 0. Total expenses 10,000. Other contract fees: program service expenses 0. Management and general expenses 2,028. Fundraising expenses 0. Total expenses 2,028.”

“Joint venture transaction -2,900,584.”

“The process has not changed from the prior year.”