Hot Spring County Medical Center

“Form 990 is reviewed by baptist health's vp of finance and hsc medical center's vp/administrator prior to e-filing. Copies are made available upon request.”

“All members of the board of directors of hot spring county medical center are required to report all conflicts of interests in writing or by verbal acknowledgement during a regularly scheduled, semi-annual meeting of the board. All stated conflicts of interest will be entered into the minutes of record of such semi-annual meeting. Members of the board of directors will refrain from lobbying, or voting when related directly to the members income or business income and will only act in good faith and in their honest business judgement for the purposes for which the corporation was organized.”

“The organization did not compensate any officers or key employees. However, when the organization does compensate officers or key employees an independent review is performed using industry comparatives for like size hospitals.”

“The organization does not make its governing documents, conflict of interest policy and financial statements available to the public.”

“Effective january 1, 2014, the medical center entered into a leasing arrangement that transfers the operations of the medical center to baptist health of little rock, arkansas. The lease, which covers substantially all the assets and operations of the medical center, is for a period of 25 years with annual payments of $25 per year and includes two optional renewal periods of 25 years each at the same annual rental. Baptist health has committed to provide adequate funding to operate the medical center and will make the required debt service payments of all legal obligations of the medical center. The lease can be terminated prior to the expiration of the lease term by baptist health or the medical center in certain instances as defined in the agreement and with proper notification. At the end of the lease term, all assets and liabilities will revert back to the medical center.”

“The organization's mission is to provide rural medical health care. The hospital facility was leased to baptist health effective 1/1/2014, at which time baptist health took over operations of the hospital. Since the effective date, activity consists of rental income and expenses on remaining property and administrative duties from the lease of the hospital facility. Baptist health is providing the healthcare services and operating the hospital through the lease arrangement with hot spring county medical center. The hospital license is owned by baptist health.”