Lenoir Memorial Hospital Foundation Inc

“The director of finance of lenoir memorial hospital (dba unc health lenoir)or the paid tax return preparer presents the form 990 to the finance & investment committee of the board of directors at the quarterly meeting prior to filing. The finance & investment committee consists of five members from the board of directors, the treasurer of the lenoir memorial hospital (dba unc health lenoir) board, and the foundation director. The committee then reports on the form 990 to the entire board of directors and the approved form 990 is provided to the cfo for final review and signing.”

“Upon their appointment to the board, and before actually participating in meetings, members must read the conflict of interest policy and disclose any financial interests that could create a conflict. As long as they continue to serve on the board, members complete these financial relationship disclosure statements on an annual basis. If such interests are not disclosed, the ceo, board chair, or any other board member may bring the financial interest or actual/possible conflict to the attention of the board; thus the entire board is responsible for ongoing monitoring of potential conflicts and their disclosure. Intentional failure to disclose such financial interests will, by policy, result in appropriate corrective action by the board. Should a conflict of interest arise in conducting the business of the foundation or the hospital, the affected member(s) may not participate in discussion regarding the relevant transaction, and depending upon the specific nature of the matter, the board can take a range of actions, such as appointing a disinterested person to investigate possible alternatives, requiring the interested person to refrain from performing any function related to the interest creating the conflict, or requiring the interested person to divest himself of the conflict-creating interest in order to remain on the board. Education and compliance forms are updated annually by the hospitals corporate compliance officer.”

“The executive director is an employee of lenoir memorial hospital (dba unc health lenoir). The hospitals human resources department, in conjunction with unc health care, conducts an annual market review of the executive directors compensation and makes recommendations of changes to hospital management. The executive compensation committee of the hospital board of directors contracts with an outside, independent, professional firm to examine and review the wages and benefits of the ceo and the management officials of the hospital each year who are affiliated with the foundation board.”

“The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request.”