Kentucky Medical Services Foundation

“The 990 tax return is prepared by an independent cpa firm based on the information obtained from the audit and inquiries from management. Before the return is filed, a draft of the informational return is reviewed by management. The board will review the 990 at a meeting shortly after filing and any necessary changes will be made at that time.”

“Executive leadership has implemented a policy that officers, directors, and key employees should annually disclose conflicts and the conflict of interest policy is consistently monitored and enforced.”

“Compensation is deliberated by the board in a closed door meeting. As part of their review they use aamc group on faculty practice benchmarks for comparison.”

“Forms 990 and 990t are posted on the kmsf.com website and are also available upon request. Form 1023 is provided upon request.”

“The audit committee assumes responsibility for the oversight of the audit and selection of the independent accountant. This process has not changed since the prior year.”

“To coordinate and develop superior patient care in a group practice setting within the academic environment of the medical center of the university of kentucky in lexington, including the provision of financial support for the medical center's teaching, research and service programs and for the personnel and equipment necessary for such programs, and in furtherance of this general purpose to execute and perform a public trust in supporting, aiding, and advancing the study and investigation of human illnesses and injuries, and the causes, preventions, relief and cure thereof, and the study and investigation of problems of hygiene and health; to encourage, promote and perform medical, surgical and scientific learning, skill, education and investigation; to promote medical, surgical, and scientific services; to attract and retain high quality faculty to teach, conduct research and provide patient care; to provide support to enable the college of medicine to accomplish its educational, research and service goals; to assist programs of medical, surgical and scientific education and research; to carry on such programs of public charity as may be related to the carrying out of the other stated purposes of the corporation, and, specifically the charitable programs utilizing the knowledge and skills acquired by the corporation through its above-described operations for the benefit of all persons who may be in need thereof, regardless of his or her ability to pay.”