Wyoming Medical Center Inc

“The organization delegated management duties to banner health and were paid a total $27,557,119 for calendar year 2024.”

“Banner health, an arizona nonprofit corporation exempt from tax as an entity described under section 501(c)(3) of the internal revenue code, is the sole member.”

“The sole member elects the board of directors.”

“The sole member reserves the authority to approve decisions regarding the following matters: strategic plan, operating and capital budgets, insurance and risk management, staffing, compensation, benefit plans, and any other material action taken outside of the normal course of business.”

“There are no committees with authority to act on behalf of the board of directors.”

“Banner health's tax department is responsible for overseeing the processes for preparing the form 990. Banner health tax takes the lead role in the process and is charged with the duty to collect the financial and other information needed to complete the form 990. This includes coordinating with other banner health departments, such as the legal, payroll, government relations, licensing, community benefit, compensation and benefits, accounts payable, business risk, ethics and compliance, certification, credentialing, financial services and treasury management in order to ensure that the expertise of each department is utilized in the information-gathering process. Once the information is gathered, it is organized and assembled into an organizer by an outside accounting firm to prepare the form 990. The accounting firm has expertise in non-profit hospital systems and has specific knowledge of wyoming medical center's operations and return complexity. Once the information gathering process is complete, a first draft of the form 990 is prepared by the outside accounting firm and readied for review. The review process begins with an initial review done by banner health tax. During this review, a list of questions, issues and additional tasks is compiled. This list is then disseminated to the appropriate banner health departments for further action. Once all questions, issues and tasks have been completed, a second review by banner health tax is and the accounting firm is done. Again, if applicable, a list of questions, issues and additional tasks is compiled. This list is then disseminated to the appropriate banner health departments for further action. Once this second review process is completed, a final draft of the form 990 is presented to the chief legal officer & general counsel and chief financial officer for review and approval. Changes to the form 990 are made if necessary and approval is granted to send the form 990 to the board members. Each member of the board is then sent the draft form 990 along with an executive summary of key items reported in the form 990. Any issues are addressed and resolved and the final version of the form 990 is signed by the cfo or another officer if required to meet timely filing requirements.”

“Pursuant to banner health conflict of interest policy, all board members, officers, and key employees must disclose the existence of any financial interest that may give rise to a conflict of interest promptly to the board audit committee. The committee must then consider the disclosed interest and either authorize the continuation of the potential financial interest and any related transaction with appropriate protections, or disapprove of it. Other banner health employees must go through a similar process of disclosure to their respective supervisor and to the director of ethics and compliance, who maintains all of the disclosed financial interests/conflicts. In addition, all board members, officers, vice presidents, and other selected members of management, key employees and employed physicians must complete an annual survey that is distributed electronically under the supervision of the director of ethics and compliance. The survey includes a questionnaire that is designed to identify actual or potential conflicts of interest, as well as other transactions and relationships required to be disclosed in the form 990 and schedule l. Members of executive management are also required to complete a quarterly questionnaire managed under the supervision of the director of internal assuance. This questionnaire is primarily designed to identify weaknesses in internal controls or accounting, but also requires disclosure of any knowledge by the responding manager of any violations of banner health's conflict of interest policy. The director of ethics and compliance compiles a summary of the conflict of interest disclosures obtained through the annual survey process involving board members or officers. This summary is reviewed with banner health's general counsel to determine the appropriate action to be taken under conflict of interest policy. In addition, the director reviews the summary annually with the board audit committee in order to ensure that all disclosed actual or potential conflicts have been reviewed and processed appropriately under the conflict of interest policy.”

“The organization's audited financial statements, conflict of interest policy, and tax returns are available upon request. Copies are maintained at each administrative office and in the legal and tax departments. The organization's governing documents are not required to be made available to the public and therefore they are not made public.”

“Other fees: program service expenses 32,165,129. Management and general expenses 7,008,352. Fundraising expenses 0. Total expenses 39,173,481.”

“Net asset adjustment with company transfers 5,987,444.”

“Wyoming medical center is included in banner health's audited financial statements. Banner health's board of directors is responsible for oversight of the financial statement audit.”