Touro Infirmary

“Lcmc health acts as a system parent and it is the sole member of touro infirmary.”

“Lcmc health has the sole authority to appoint the board of touro infirmary.”

“Lcmc health reserved the power to approve the decisions of the board.”

“The organization engaged an independent cpa firm to prepare its form 990. Upon completion the form 990 was presented to all members of the organization's board for review via email link to a secure dropbox.”

“Annually, a list of officers, directors, trustees, and key employees is compiled by the lcmc corporate compliance department. Those identified individuals are sent a compliance questionnaire to identify the potential for any conflicts. Corporate compliance monitors responses and follows up with individuals as needed to ensure completion of the questionnaire. The results of these are reviewed by the lcmc health corporate compliance department to ensure that any conflicts are identified and addressed.”

“Executive compensation is reviewed and approved annually by the board's executive committee using data from an independent compensation consultant. The committee considers market comparability, executive performance, and organizational results, and documents its decisions to ensure compliance with irs requirements for reasonable compensation.”

“All governing documents, the conflict of interest policy, and financial statements are made available to the public upon request.”

“The organization utilizes lcmc health (ein: 94-3480131) , the system parent, as its designated common paymaster for payroll administration, wage reporting, and all employment tax compliance functions. As the system parent, lcmc health administers these compliance functions on behalf of the entire system. Accordingly, the 1,713 employees reported on part v, line 2a represent the number of forms w-2 filed by organization a, as common paymaster, on behalf of this organization for the reporting year.”

“General medical professional fees: program service expenses 44,588,687. Management and general expenses 5,539,913. Fundraising expenses 0. Total expenses 50,128,600. Other professional fees: program service expenses 2,790,053. Management and general expenses 502,600. Fundraising expenses 0. Total expenses 3,292,653.”

“Book loss from controlled subsidiaries -11,491,377. Direct net asset adjustment of pension liabilities 1,551,222. Book/tax difference on ubi from investments -100,913.”

“Lcmc's finance committee assumes responsibility for the oversight of its subsidiaries' financial statements and selection of an independent auditor. This has not changed from the previous year. In addition to the lcmc finance committee, the touro finance committee has been delegated to assist with monitoring of the touro financial statements and its subsidiaries to included ccpi, woldenberg village, and the touro foundation.”