Lexington Memorial Hospital Foundation Inc.

“The sole member of the organization is lexington medical center, a north carolina nonprofit organization.”

“Lexington medical center (lmc), the organization's sole member, has the power to elect and remove officers.”

“Decisions of the organization's governing body which require approval by the sole member, lexington medical center, include amendments to certain fundamental documents (articles of incorporation and bylaws) and election and removal of directors.”

“The filing organization's board receives a copy of the form 990 with sufficient time to permit review, comment, and questions prior to its filing. If modifications are required following such review and comment, the revised form 990 is redistributed prior to its filing with the irs, along with a report noting the modifications.”

“The bylaws of the organization have conflict of interest provisions which are reviewed, accepted, and signed by each officer and voting board member on an annual basis. Pursuant to these provisions each officer and board member will recuse themselves from any discussion and vote for which a conflict exists for themselves or their family. Determinations of whether a conflict exists are made at a management, board member, officer, and individual level. Actual conflicts are reviewed without the presence of the interested party.”

“The organization pays no compensation to officers, directors and key employees. All compensation paid to officers, directors and key employees was paid by a related organization, wake forest university baptist medical center, an entity within the atrium health wake forest baptist legal structure. Compensation paid to these individuals is reviewed and approved in accordance with the related organization's compensation policies and procedures which include independent compensation consultants, compensation surveys and studies to determine the appropriateness of each officer's and director'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 available to the public on request.”

“Contribution revenue previously recognized -162,670.”