Martin Luther King Jr Community Medical Foundation

“The organization has shareholders, who shall be limited to individuals that are: (i) licensed or otherwise authorized to engage in the practice of medicine in the state of california, and (ii) are employees or contractors of martin luther king, jr.-los angeles healthcare corporation.”

“The shareholders of the corporation may elect the members of the board of directors from among qualified nominees designated by martin luther king, jr.-los angeles healthcare corporation.”

“The bylaws, articles of incorporation, and captive professional corporation documents may be amended only by the affirmative vote of a majority of the outstanding shares entitled to vote, or by the written consent of shareholders entitled to vote such shares. In either case, such amendments are subject to the approval of 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.”

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

“Medical physicians: program service expenses 8,707,489. Management and general expenses 0. Fundraising expenses 0. Total expenses 8,707,489. Consulting fees: program service expenses 438,321. Management and general expenses 960,854. Fundraising expenses 0. Total expenses 1,399,175.”