Martin Luther King Jr Community

“Martin luther king, jr.-los angeles healthcare corporation performs the non-medical administrative, clerical, and support staff functions, specifically including reception and patient scheduling, and all other necessary and appropriate non-professional services relating to the operation of a medical foundation.”

“As of april 1, 2020, the organization shall have one (1) member ("member") within the meaning of section 5056 of the california nonprofit corporation law, namely, martin luther king, jr.-los angeles healthcare corporation. Said member shall have and be entitled to exercise fully all rights and privileges of members of nonprofit corporations under the california nonprofit corporation law, as amended, and under all applicable laws, including all voting rights and the power to elect the board of directors of this organization.”

“As of april 1, 2020, martin luther king, jr.-los angeles healthcare corporation, the sole member of this organization under the california nonprofit corporation law, has all corresponding statutory rights and powers of membership. In addition, the member has the power (which are termed the "reserved powers" of the member) to take or approve the following actions: (a) approve or change the purposes of this organization; (b) authorize the amendment of the bylaws and articles of incorporation of this organization; (c) authorize the board of directors to amend the bylaws, articles of incorporation or other organizational documents of any affiliate controlled by this organization; (d) approve the formation, merger, dissolution, consolidation, divestiture, closure, change in membership or control and reorganization of each direct affiliate controlled by this organization; (e) fix the number, and appoint and remove the directors of this organization; (f) approve the merger, consolidation, reorganization or dissolution of this organization and the disposition of the assets of this organization upon dissolution; (g) approve the acquisition, sale, lease, mortgage, transfer or other alienation of real or personal property of this organization; (h) approve the organization's entering into any joint venture or other material transaction; (i) approve the capital and operating budgets of this organization or any affiliate controlled by this organization; (j) approve general policies concerning quality of care objectives for this organization in furtherance of consistency among its affiliates; (k) establish policies and procedures concerning finance and resources for this organization and approve any proposed arrangements that are inconsistent with such policies or procedures; (l) establish criteria for the long-range financial and strategic plans of this organization and approve any such plans; (m) establish an internal auditing program and approve any material element of the internal auditing program for this organization that is inconsistent with the internal auditing program established by the member; (n) approve the transfer of funds, by gift or loan, between this organization and one (1) or more other affiliates of mlk-la and this organization to any person or entity other than in accordance with certain thresholds; and (o) approve any other action by this organization or any affiliate controlled by this organization that has been established by resolution of the member as requiring its approval, including, but not limited to, any approvals of authority necessary to ensure compliance with any credit agreement, master indenture or loan agreement to which this organization or any affiliate controlled by this organization is a party.”

“As of april 1, 2020, the bylaws and articles of incorporation may be amended only by the the organization's sole member, martin luther king, jr.-los angeles healthcare corporation.”

“The form 990 is prepared by an outside tax preparer in conjunction with the accounting and finance staff of martin luther king, jr.-los angeles healthcare corporation. Upon completion, the form 990 is then distributed to the organization's president/treasurer/secretary for review and comment prior to filing with the internal revenue service.”

“Each director, officer, and member of a committee having powers delegated by the governing board shall, prior to their election and annually thereafter, sign and submit a conflict of interest statement. In the event a conflict of interest may occur, interested persons are required under the policy to disclose the existence of any financial interest to the organization's governing board or to a duly authorized committee of the governing board considering the proposed transaction or arrangement, and are given the opportunity to disclose all material facts of the transaction. After disclosure of the potential conflict and all material facts, and after any discussion with the interested person, the interested person shall leave the meeting of the governing board or committee while the determination of a conflict of interest is discussed and voted upon.”

“The organization does not compensate its president or any additional officers or key employees; rather, these individuals are compensated by a related organization. As such, part vi, section b, line 15a and 15b have been marked "no" as mandated by the form 990 instructions. Upon hiring of the current medical foundation ceo, the hospital board engaged the services of a compensation consulting firm to assist them in determining appropriate compensation for such an individual. After consultation with the compensation consulting firm, which compiled salary surveys for similar industry organizations, the hospital board set the compensation for the ceo. The hospital board also reviews the compensation for other officers and key employees of the hospital with external compensation information on an annual basis.”

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

“Medical physicians: program service expenses 23,316,229. Management and general expenses 338,475. Fundraising expenses 0. Total expenses 23,654,704. Consulting fees: program service expenses 2,115. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,115. Medical therapists: program service expenses 810. Management and general expenses 191,868. Fundraising expenses 0. Total expenses 192,678. Other professional fees: program service expenses 56,961. Management and general expenses 73,266. Fundraising expenses 0. Total expenses 130,227. Other purchased services: program service expenses 2,606,900. Management and general expenses 1,244,210. Fundraising expenses 0. Total expenses 3,851,110.”

“Fy23 fund reversal -235,268.”