Wrmc Hospital Operating Corporation

“The filing organization, under a long term lease between the town of wilkesboro and wake forest university baptist medical center of all assets and property used in operations, is operated and controlled by wake forest university baptist medical center as an affiliate of atrium health wake forest baptist. All members of key management are employees of wake forest university baptist medical center.”

“The sole member of the organization is wake forest university baptist medical center (wfubmc), a north carolina nonprofit corporation.”

“The sole member of the organization shall have the right at all times, with respect to the organization, to elect and remove the trustees, as provided in the organization's bylaws.”

“The sole member of the organization shall have the right at all times, with respect to the organization, to approve the sale, lease, or transfer of all or substantially all of the assets of the organization, to approve any amendments to the organizations articles or bylaws, and to approve the mission, vision, and value statements of the organization. The sole member may act without a meeting.”

“The filing organization's board of directors receives copies of the form 990 with sufficient time to permit review, comment, and questions prior to its filing. If modifications are required following such review and comment, the revised form 990 is redistributed to all directors prior to its filing with the irs, along with a report noting the modifications.”

“The organization requires its officers, directors and key employees to annually review the conflict of interest policy and determine any potential conflicts of interest. Any potential conflicts noted in the questionnaire are reviewed by a standing committee for appropriate resolution. All members of the board of directors are required to determine and report annually, and as they arise, any potential conflicts of interest to the secretary of the board of directors. The resolution of potential and actual conflicts is subject to the approval of the chair of the board.”

“The filing organization does not pay compensation to directors for their effort devoted to the organization. Certain officers and directors are employed by a related organization, wake forest university baptist medical center (wfubmc) and the determination of the compensation of such individuals is conducted via the process utilized by the wfubmc board, as follows: the diversity, inclusion, & compensation committee (the "committee") of the atrium health, inc. Board of directors has authority as the wfubmc board delegates to it, for the review and approval of senior executive compensation, including senior executive incentive plans. No member of the committee is an employee of wfubmc or of the filing organization. The committee relies upon an external, independent compensation consultant experienced in healthcare to provide the committee with compensation comparability data for new executive position appointments and for compensation reviews for existing executives. The consultant, which is retained directly by the committee, provides third-party information and evaluates the competitiveness and reasonableness of executive compensation and benefits programs in relation to market practices for similarly situated healthcare organizations. The committee makes its decisions with respect to executive compensation in accordance with wfubmc and filing organization policies, irs regulations, and standard corporate governance practices. Such policies include adherence to executive compensation philosophy and review processes; processes ensuring committee member and compensation consultant independence; use of valid market comparisons of data from healthcare organizations of similar size, structure, and complexity and establishment of the rebuttable presumption of reasonableness, per irs guidelines. Minutes of the deliberations of the committee are maintained in the atrium health, inc. Legal department.”

“The organization's articles of incorporation are available to the public on request and are available on the website of the north carolina secretary of state. The organization's bylaws are not published, but provisions from the bylaws are included as necessary in the organization's policies, and are attached to the form 1023 filed for the organization with the irs, which is publicly available. The conflict of interest policy and financial statements are available to the public on request.”

“Wrmc hospital operating corporation (dba atrium health wake forest baptist wilkes medical center, at times also referred to as the "hospital or "ahwfb-wmc or "the filing organization") is an integral part of atrium health wake forest baptist (at times also referred to as "ahwfb"), a preeminent learning health system and academic medical center of the highest quality with balanced excellence in patient care, research and education that promotes better health for all through collaboration, excellence, and innovation. Ahwfb's mission is to improve health, elevate hope, and advance healing for all. Ahwfb's vision is to be the first and best choice for care.”

“The hospital has attached a copy of its consolidated audited financial statements for its calendar year ended december 31, 2022 to the form 990. The consolidated financial statements have been prepared on the accrual basis in conformity with u.s. Generally accepted accounting principles (gaap) and include the assets and operations of all atrium health, inc. Controlled entities, and atrium health wake forest baptist entities (under common management), including: -wake forest university baptist medical center and affiliates (including the filing organization), -north carolina baptist hospital and affiliates, -wake forest university health sciences and affiliates, -charlotte-mecklenburg hospital authority (dba atrium health charlotte) and affiliates, -floyd healthcare management, inc. (dba atrium health floyd) and affiliates, and -navicent health inc. (dba atrium health navicent) and affiliates. All significant intercompany transactions have been eliminated in consolidation.”

“Other purchased services: program service expenses 217,976. Management and general expenses 39,039. Fundraising expenses 0. Total expenses 257,015. Medical services: program service expenses 5,326,343. Management and general expenses 953,923. Fundraising expenses 0. Total expenses 6,280,266. Contract labor: program service expenses 6,094,950. Management and general expenses 1,091,577. Fundraising expenses 0. Total expenses 7,186,527. Billing and collection: program service expenses 2,813. Management and general expenses 504. Fundraising expenses 0. Total expenses 3,317. Laundry and linen: program service expenses 148,988. Management and general expenses 26,683. Fundraising expenses 0. Total expenses 175,671. Consulting and management: program service expenses 1,035,274. Management and general expenses 185,413. Fundraising expenses 0. Total expenses 1,220,687.”

“Actuarial gain/loss - change in pension liability -690,782.”