Madelia Community Hospital Foundation

“The sole member of the foundation is madelia community hospital, incorporated.”

“The member is allowed to elect members of the governing body.”

“Any amendments to the foundation's articles of incorporation or bylaws require ratification by a 2/3 majority vote of the board of trustees.”

“The form 990 is reviewed by the board of directors before it is filed with the irs. The review will be presented by finance at the regular meeting of the board of directors.”

“The foundation's conflict of interest policy applies to all members of the board and corporate officers, agents, and employees of the foundation. It is the obligation of the foundation's management to publicize this policy to all such parties on a recurring basis. The conflict of interest policy and an annual disclosure statement are circulated to directors and officers to assist them in considering such disclosures, but disclosure is appropriate whenever a conflict may occur. The written notices of disclosure of conflicts or dualities of interest are filed with the executive director or any other officer.”

“Madelia community hospital foundation staffing is funded through the madelia community hospital, inc., that ensures that the compensation paid to its employees and administrative staff be consistent with policy and provide equitable standards for wage and benefits based on annual regional survey of comparable entities. The governing board reviews annually the foundation director's performance and the basis is the annual medisota salary survey and rate increase as awarded to all staff. This was last completed in the spring of 2015.”

“Madelia community hospital foundation makes its governing documents, conflict of interest policy, and financial statements available to the public at the annual corporation meeting and upon request.”

“The board of directors of the foundation assume responsibility for oversight of the audit of its financial statements and the madelia community hospital's board of directors select the independent accountant due to the consolidated audit. This process has not changed from the prior year.”

“Madelia community hospital foundation does not have any employees. The salary and benefits expenses on page 10 of the 990 are amounts that are allocated to madelia community hospital foundation from madelia community hospital for madelia community hospital foundation's portion of the expenses.”