Ballad Health Foundation

“The business and affairs of wellmont foundation, inc. (the corporation) shall be governed exclusively by the board of governors. The corporation's board of governors is designated by wellmont health system, the sole member of the corporation. In addition to such rights of approval and consent as may be reserved to the sole member of the corporation pursuant to applicable law, transactions of the following matters by the corporation shall require the prior approval of wellmont health system, the sole member of the corporation: (a)implementation of corporation's annual budget, (b)incurring any loan or other indebtedness for borrowed money, (c)acquisition of any equipment or personal property for a purchase price in excess of 50,000 or the acquisition of any real estate, regardless of purchase price, (d)the undertaking of certain contractual commitments, (e)entering into any plan of merger or consolidation, (f)acquisition of substantially all of the assets of any other legal entity, and (g)institution of any litigation by or on behalf of corporation.”

“See form 990, part vi, section a, line 6 for explanation.”

“See form 990, part vi, section a, line 6 for explanation.”

“Margaret denarvaez (thru 09/16/2014)”

“Wellmont foundation's form 990 is reviewed by the chief financial officer, the corporate controller, and the manager of accounting for wellmont health system, the foundation executive director and the board of governors of wellmont foundation,inc., prior to filing. Any questions or comments arising from the initial review are addressed to ensure the return is complete and accurate. Any changes or corrections are made, and the return is then provided to the above individuals and the board of governors of wellmont foundation, inc. Prior to filing with the internal revenue service.”

“Officers, directors and key employees are required to sign a conflict of interest policy acknowledgement. Any potential conflicts are discussed with the compliance and audit services department, as they arise. Wellmont foundation, inc.'s officers, directors and key employees are governed by wellmont health system's conflict of interest policy. Wellmont health system also has a policy on business practices that discusses conflict of interest and informs the workforce to disclose any issues to the compliance and audit services department, for resolution. Wellmont health system also uses a hotline that allows anonymous reporting of possible conflict of interest situations for investigation by the compliance and audit services department.”

“The compensation of barton a. Hove, the president and ceo of wellmont health system, is reviewed, approved and documented by the wellmont health system human resources committee and the board of directors. Barton a. Hove is also on the board of directors of wellmont foundation, inc. The last compensation deliberation and review process for barton a. Hove was completed and approved by the board of directors of wellmont health system on march 20, 2015. On november 18, 2016, the wellmont health system human resources committee of the board of directors met to review salary data and the market analysis as it does on an annual basis. This committee reviews the salary data for each executive-level position reporting to the president and ceo of wellmont health system. The compensation of l. Todd norris, the executive director of wellmont foundation, inc. Was reviewed, approved and documented by this committee. In addition, these bodies use comparability data to determine the appropriate compensation. All compensation deliberations and reviews are contemporaneously documented.”

“The compensation harrison turner, m.d. Receives as a physician of wellmont cardiology services is reviewed, approved and documented by the wellmont health system board of directors. Wellmont health system uses one or more of the methods described to establish the compensation of harrison turner, m.d.”

“Wellmont foundation, inc.'s governing documents and conflict of interest policy are not available to the public. Wellmont health system's audited financial statements and quarterly unaudited financial statements are available through the electronic municipal market access website.”

“Wellmont foundation, inc.'s 109 volunteers worked approximately 744 hours for the year ended june 30, 2016.”

“The fiscal year ended with 4.8 million in contributions from 3,598 community partners and foundation associates. We gave back 5.3 million to our hospitals through facilities improvements, educational efforts and grassroots causes. Several projects carried over from fiscal 2015 and some will carry over into fiscal 2017 where the remainder of contributions will be distributed. Through our work with children's miracle network, 856,363 was raised to provide facilities improvements, equipment and program enhancements to our centers for infants and children, neonatal and pediatric intensive care and emergency care. Our medical facilities improvements include completion of the renovation of a cardiac catheterization lab at bristol regional, continuation of the nicu relocation/renovation/expansion and renovation of the women's & infants center at holston valley, purchase of equipment for level one heart attack network, and equipment purchases for cancer, children's, blood center, and heart services. Grant funding supported our partnership with tennessee department of health to prepare the region for disasters and emergencies by funding equipment, training, and surgery capacity needs. Additional grant funding from centers for medicare & medicaid services supported marketplace navigators to help individuals and businesses obtain insurance coverage.”

“Increase in cash surrender value endowment ins 23,925 unrealized gain/(loss) on marketable securities -740,576 total -716,651”