Shannon Medical Center

“Shannon health system is the sole member of the organization.”

“The board of directors shall consist of each of the seven trustees of the margaret shannon estate, a testamentary trust. The other directors shall consist of representatives of the community and members of the medical staff of the hospital, to number in aggregate not more than seven who are appointed by the member and the chief executive officer of the corporation.”

“Approval of the sole member, shannon health system, is required for budgets, large financial expenditures that deviate from budget, sale of property, merger, acquisition, or consolidation, borrowing of money, seeking or giving grants, settlement of claims or litigation, amendment of bylaws, and contracts in which the corporation assumes financial risk.”

“The organization engages an outside accounting firm to prepare form 990. Once prepared, the form is reviewed by the organization's internal accountants prior to filing.”

“We regularly audit for conflict of interest statements in the employees records. Procedure for monitoring: 1. Within 90 days of becoming an affected individual, that individual must review this policy and complete an smc conflict of interest disclosure form. 2. At least annually thereafter, affected individuals must review this policy and complete a conflict of interest disclosure form. 3. The conflict of interest disclosure form should be sent to the smc compliance officer. 4. At any time when an actual, potential, or perceived conflict of interest arises, the affected individual must revise his or her conflict of interest disclosure form and contact the smc compliance officer. The responsibility to promptly report such actual or potential conflicts rests with the affected individual. 5. The smc compliance officer will review disclosures and determine which require further action with the smc general counsel and appropriate smc executive staff.”

“Gallagher completed an executive compensation study in october 2022, and it covered all executive salaries. Executive compensation is reviewed annually by the board of trustees' operations committee, which consults comparability data and keeps contemporaneous records of its decisions.”

“Gallagher completed an executive compensation study in october 2022, and it covered all executive salaries. Executive compensation is reviewed annually by the board of trustees' operations committee, which consults comparability data and keeps contemporaneous records of its decisions.”

“The organization's governing documents, conflict of interest policy, and financial statements are available to the public upon request.”

“misc - Total Revenue: 408873, Related or Exempt Function Revenue: 397534, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: 11339;”

“Outside Services - Total Expense: 8152198, Program Service Expense: 5754608, Management and General Expenses: 2397590, Fundraising Expenses: ; Physician Fees - Total Expense: 38701143, Program Service Expense: 34599976, Management and General Expenses: 4101167, Fundraising Expenses: ; Consulting Services - Total Expense: 26543124, Program Service Expense: 248151, Management and General Expenses: 26294973, Fundraising Expenses: ; Other Services - Total Expense: 6520, Program Service Expense: 6520, Management and General Expenses: 0, Fundraising Expenses: ;”

“Transfers to/from affiliates - -xxx-xx-xxxx; change in trust assets - 20776641; net assets released from restriction - -1046691; activity of affiliates in net assets - 223345; contribution from trust - 12000000; other changes - -175011;”