Touro Infirmary

“Louisiana children's medical center (lcmc) acts as a system parent and it is the sole member of touro infirmary.”

“Louisiana children's medical center (lcmc) has the sole authority to appoint the board of touro infirmary.”

“Louisiana children's medical center (lcmc) 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.”

“At the time of hire, each employee reviews the conflict of interest form, has an opportunity to ask questions about the policy, and signs a document stating that they have reviewed and understand the policy. This is a part of the employees' permanent record, and applies to all employees. Senior management (directors, vice presidents, ceo) and members of the board of directors are required to review and sign a conflict of interest form on an annual basis.”

“The corporation relies on comparable data from unrelated entities to determine the amount of compensation for its executives, and documentation is maintained regarding the determination of these amounts. The final decision regarding the amount of compensation is subject to the approval of the lcmc executive committee.”

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

“General medical professional fees: program service expenses 12,808,672. Management and general expenses 1,753,256. Fundraising expenses 0. Total expenses 14,561,928. Building & equipment maintenance: program service expenses 6,380,839. Management and general expenses 873,412. Fundraising expenses 0. Total expenses 7,254,251. Contracted as-needed labor: program service expenses 9,607,094. Management and general expenses 636,102. Fundraising expenses 0. Total expenses 10,243,196. Other professional fees: program service expenses 7,400,695. Management and general expenses 1,013,010. Fundraising expenses 0. Total expenses 8,413,705. Other contractual services: program service expenses 16,376,545. Management and general expenses 2,241,628. Fundraising expenses 0. Total expenses 18,618,173. Outside patient services: program service expenses 56,511. Management and general expenses 7,735. Fundraising expenses 0. Total expenses 64,246. Transfers contractual services: program service expenses 576,585. Management and general expenses 78,923. Fundraising expenses 0. Total expenses 655,508.”

“Book/tax difference on income from ccpi -3,769,766. Book/tax difference on income from woldenberg and touro foundation -9,883,484. Direct net asset adjustment of pension liabilities 969,591. Restricted net asset investment income -17,592. Net adjustment adjustment of fema grants -328,344.”

“Lcmc's finance committee assumes responsibility for the oversight of its subsidiaries' (including touro) 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.”