Glens Falls Medical PLLC

“Glens falls medical pllc effectively bifurcates its ownership, vesting legal ownership under new york law in sean m. Kennedy, do and investing beneficial ownership and structural and financial control in glens falls hospital. The control agreement requires dr. Kennedy to vote his membership interest only as approved in advance and in writing by glens falls hospital, provides that glens fall hospital shall initiate any and all actions regarding the election and removal of glens falls members, and restricts dr. Kennedy's ability to transfer his interest in glens falls medical and requires him to transfer such interest only to a person designated by glens falls hospital. Glens falls hospital effectively controls the structural and financial decisions of glens falls medical pllc.”

“Glens falls hospital shall initiate any and all actions regarding the election and removal of glens falls medical members, and restricts dr. Kennedy's ability to transfer his interest in glens falls medical and requires him to transfer such interest only to a person designated by glens falls hospital. Glens falls hospital effectively controls the structural and financial decisions of glens falls medical pllc.”

“The glens falls hospital governing body has full responsibility for oversight of the organization.”

“The glens falls hospital governing body has full responsibility for oversight of the organization.”

“The form 990 was prepared by glens falls hospital staff and reviewed by the controller of glens falls hospital and kpmg to ensure the filing of a complete and accurate return. A copy of the final form 990 was provided to dr. Kennedy prior to filing.”

“The sole member, dr. Kennedy. A) has recieved a copy of the conflicts of interest policy. B) has read and understands the policy. C) has agreed to comply with the policy and d) understands that the corporation is a charitable organization and that in order to maintain its federal exemption it must engage primarly in activities which accomplish one or more of its tax exempt purposes. To ensure that the corporation operates in a manner consistent with its charitable purposes and that it does not engage in activities that could jepordize its status as an organization exempt from federal income tax, periodic reviews shall be conducted. Form 990, part vi, section b, line 12a glens falls medical pllc adopted a conflict of interest policy which is monitored by a compliance officer.”

“The organization makes its governing documents, conflicts of interest policy and financial statements available to the public upon request.”

“Glens falls medical pllc is in the process of terminating the physician services component of its operations. Once the termination is complete and all outstanding liabilities are resolved, the organization will re-evaluate its ability to continue its acting in accordance with its exempt purposes and, if needed, report a formal termination of its exempt status. Throughout 2024, glens falls medical pllc was a dormant entity.”