Ballad Health Foundation

“The business and affairs of wellmont foundation, inc. Are governed exclusively by the board of governors. The foundation'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 the foundation pursuant to applicable law, transactions of the following matters by the foundation shall require the prior approval of wellmont health system: (a) implementation of foundation'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 the foundation.”

“Wellmont health system (whs) is wellmont foundation's sole member. The board of directors of ballad health, whs's parent organization, serves as whs's board of directors and is responsible for appointing the directors of the foundation's board.”

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

“Barton hove (retired 1/31/2018)”

“The ballad health foundation president reviewed the wellmont foundation, inc. Form 990 with its board of governors prior to filing. The return was made available to each board member in an electronic format prior to the review.”

“The foundation is part of the newly formed ballad health healthcare system formed when wellmont health system and mountain states health alliance merged in february 2018. Ballad health has a conflict of interest policy for all members of the board of directors, the executive chair/president, executive vice presidents, senior vice presidents, and vice presidents, and applies to all ballad health organizations. All persons covered by this policy are required to complete a conflict of interest disclosure form on an annual basis. Should a conflict arise, it is the responsibility of the conflicted individual to update his or her disclosure immediately. All meetings of the board or board committees have a standing agenda item first on the agenda titled "conflicts of interest". If a member of the board or board committee has a conflict of interest involving any issue on the board agenda, he or she must declare the conflict of interest during the period allotted for disclosure. If any issue arises during a meeting in which the board member has a conflict of interest, he or she must immediately declare the conflict. While each member of the board or board committees are responsible for disclosing conflicts of interest, it is also the responsibility of any board member aware of a conflict which has not been disclosed to ensure the board is made aware. The presiding officer of a board or board committee meeting may ask a conflicted member to excuse themselves from the meeting during the discussion related to the issue with which the conflict of interest applies. Under no circumstances shall a member vote on a matter that gives rise to a potential conflict.”

“Compensation for barton hove (foundation president until 1/31/18), and todd norris (assumed foundation president role 2/1/18) was reviewed and approved during the tax year by the human resources committee of the foundation's sole member, wellmont health system, and subsequently approved by the board of wellmont's parent organization, ballad health. Wellmont merged with mountain states health alliance during fy18 to form ballad health. At merger, ballad's board of directors assumed board responsibilities for both wellmont and mountain states. Data of comparable positions in similary situated organizations from an independent compensation consultant was used when determining compensation.”

“Governing documents and conflict of interest policy are made available upon request to the appropriate parties requesting them. Financial statements are made available upon request to appropriate parties requesting them.”

“Wellmont foundation, inc.'s 120 volunteers worked approximately 804 hours for the year ended june 30, 2018.”

“The fiscal year ended with 6.3 million in contributions from 3,632 community partners and foundation associates. We gave back 3.4 million to our hospitals through facility improvements, educational efforts and grassroots causes. Through our work with children's miracle network hospitals, 718,152 was raised to provide facilities improvements, equipment and program enhancements to our centers for infants and children, neonatal and pediatric intensive care units and emergency care. Our medical facility improvements include completion of the nicu relocation/renovation/expansion and renovation of the barbara humphreys birthing center at holston valley medical center, purchase of a large bore ct scanner, completion of bill gatton center for advance cardiac rehabilitation, renovation of the nursery at takoma regional hospital, inc., completion of an orthopaedic simulator lab and various purchases for cancer, children, diabetes and other services. Grant funding from centers for medicare & medicaid services supported professionals to enroll qualified children into the children's health insurance program and complete a project utilizing certified health insurance navigators to help individuals and businesses obtain insurance coverage through the health insurance marketplace.”

“Ballad health (ballad) is a tax-exempt entity and the parent corporation of both mountain states health alliance (msha) and wellmont health system (whs). The two healthcare systems came together on february 1, 2018 as a result of a merger approved by both tennessee and virginia departments of health. The individuals serving as the board of directors of ballad also serve as the board of directors of msha and whs. The audited consolidated financial statements of ballad include msha, whs and their subsidiaries and affiliates which were previously included in either msha or whs audited consolidated financial statements. Ballad has an audit committee which assumes responsibility for oversight of the audit of its financial statements and the selection of an independent auditor. Form 990 - additional information fy18 form 990 has numerous reporting changes from prior year returns. We believe these changes are necessary to better reflect the organization's activity.”