Ucmc Title Holding Corporation

“University of chicago medical center (ucmc) is responsible for determining and administering compensation for all officers of each respective entity within the university of chicago medical center, corporate structure. Below is the process used to establish compensation for the top management official, other officers and key employees. The ucmc compensation committee of the board of trustees (the committee) is responsible for the oversight of ucmc title holding corporation's executive compensation decision-making process. Its review process is designed to satisfy the procedural criteria necessary to qualify for the rebuttable presumption of reasonableness (under intermediate sanctions regulations) with respect to the total compensation and benefits provided. The committee is comprised of independent members of the board of trustees who are "disinterested" within the meaning of intermediate sanctions regulations. It reviews and approves compensation and employee benefits provided to ucmc title holding corporation president and vice president of finance by following its written executive compensation philosophy statement and written compensation review process, which includes seeking counsel from outside professional advisors and relying in advance on appropriate comparability data (for functionally similar positions at similarly situated healthcare organizations) provided by an independent third-party consultant. The committee reviews and approves all new compensation ranges, as well as current packages for newly hired executives, as needed, but no less frequently than annually. It prepares a timely and thorough written record of its deliberations and conclusions.”

“Ucmc title holding corporation is organized, and at all times thereafter is operated, exclusively for the benefit of, to perform the functions of, or to carry out the purposes of the university of chicago medical center (ucmc), a tax-exempt organization recognized as a public charity under sections 501(c)(3) and 509(a)(1) of the internal revenue code, as amended (the "code"). At least one member of the board of directors of ucmc title holding corporation shall be appointed by ucmc.”

“Ucmc title holding corporation is a type i supporting organization the university of chicago medical center (ucmc), the supported organization. Ucmc title holding corporation shall not adopt any investment policies, authorize any grants or modify the planned use of ucmc title holding corporation's assets or income without the approval of ucmc.”

“The Form 990 is prepared internally by the UCMC tax department using information provided by management. The full form, including supplemental schedules, is reviewed in detail by the Tax Director. At its regularly scheduled meeting, the compensation committee of the UCMC Board of Trustees is provided a draft copy of portions of the Form 990. The final complete version of the Form 990 is then distributed to all voting members of the Board of Directors prior to its filing.”

“Ucmc title holding corporation has a robust conflicts of interest policy for employees, officers, and trustees. The policy contains certain prohibitions as well as disclosure requirements, and encourages questions directed to the compliance office and legal affairs. During this tax year, ucmc title holding corporation surveyed trustees, officers, managerial employees, and influential medical staff members, seeking disclosures of various relationships, including relationships disclosed in this form 990. In addition, certain chairs of committees, such as the pharmacy and therapeutics committee of the medical staff, at monthly meetings ask for oral disclosures of potential conflicts. Upon request, the compliance officer and the office of legal affairs provide educational sessions. Ucmc title holding corporation notes that researcher conflicts are managed by the university of chicago. The conflict of interest policy specifically requires disclosure, and abstention or recusal as necessary, whenever a trustee or related party has a potential conflict of interest.”

“Ucmc title holding corporations bylaws, conflict of interest policies, and financial statements are available to the public upon request. In addition, audited financials are available to the public through the electronic municipal market access website.”

“Gain/loss on debt defeasance - 1799400;”