Hawthorne Inn & Conference Center

“Pursuant to a plan of dissolution adopted by the hawthorne inn and conference center trustees, the hawthorne inn and conference center was liquidated and dissolved. The net assets were distributed to its sole member, north carolina baptist hospital, a non-profit hospital described under irc section 501(c)(3). Articles of dissolution were filed and effective june 30, 2018.”

“The sole member of the filing organization is north carolina baptist hospital, a north carolina nonprofit corporation.”

“The sole member of the filing organization shall have the right at all times, with respect to the organization, to elect and remove the trustees, as provided in the organization's bylaws.”

“The sole member of the organization shall have the right at all times, with respect to the organization, to approve the sale, lease, or transfer of all or substantially all of the assets of the organization, as provided in the organization's bylaws. The sole member may act without a meeting.”

“The filing organization's board of trustees receive copies of the form 990 with sufficient time to permit review, comment, and questions prior to its filing. The organization reviews all comments and answers all questions raised by the trustees to ensure that all form 990 information is properly reported and disclosed. If modifications are required following such review, the revised form 990 is redistributed to all trustees prior to its filing with the irs, along with a summary of the modifications.”

“The organization requires its officers, trustees and any key employees to review the conflict of interest policy and disclose any potential conflicts of interests annually as they arise. Any items disclosed are reviewed and managed in accordance with the organization's policy on conflicts of interest.”

“Hawthorne inn & conference center is an integral part of wake forest baptist health, a preeminent learning health system that promotes better health for all through collaboration, excellence and innovation. The filing organization pays no compensation to officers or trustees. All compensation paid to officers and trusteess was paid by an unrelated organization, wake forest university baptist medical center, an enitity within the wake forest baptist health legal structure. Compensation paid to these individuals are reviewed and approved in accordance with the applicable organization's compensation policies and procedures which include independent compensation consultants, compensation surveys and studies to determine the appropriateness of each officer's and trustee's compensation.”

“The organization's articles of incorporation are available to the public on request and are available on the website of the north carolina secretary of state. The organization's bylaws are not published, but provisions from the bylaws are included as necessary in the organization's policies, and are attached to the form 1023 filed for the organization with the irs, which is publicly available. The conflict of interest policy and financial statements are not available to the public.”

“Taxpayer sold all real and business personal property associated with the hotel operations on march 1, 2018. As a result of the sale, taxpayer wound up its affairs and filed articles of dissolution, effective june 30, 2018.”

“Distribution to north carolina baptist hospital -4,400,000.”