Aorn Foundation

“Aorn, inc. Is the sole member of the organization.”

“Election or removal of board members is subject to final approval by the board of directors of aorn, inc., a related, tax-exempt organization.”

“The following actions require approval by the aorn, inc.: (a) amendment or restatement of the articles of incorporation or bylaws of the foundation; (b) merger, conversion, consolidation, reorganization, or dissolution of the foundation; (c) aggregate borrowing of the foundation for any period for any purpose in excess of a dollar amount to be established by the voting member from time to time, the term "borrowing" for these purposes to include any commitment for the payment of money pursuant to any contract; (d) the formulation of an initial, or any change in any subsequent, formal or informal statement of the purposes and objectives of the foundation; (e) approval of any strategic plans of the foundation or material changes thereto; (f) any act of the board that would change the rights of the voting member; or (g) the adding of members to the foundation.”

“The form 990 is presented to the board of trustees for their review prior to filing the tax return.”

“During initial orientation for new board members and again at the annual board meeting, the conflict of interest policy is reviewed with the board members by the executive director and cfo. Each year board members are asked to complete an acknowledgement of receipt and disclosure form related to the conflict of interest policy and disclose any conflicts or potential conflicts. A reminder of the conflict of interest policy is a standing agenda item at each board meeting throughout the year. Board members recuse themselves from voting on matters where a potential conflict may or does exist.”

“Executive director: the director of human resources provides the ceo and cfo/cdo with extensive compensation benchmarking data for base pay, which is obtained from compensation data from multiple benchmarking surveys which is commensurate with the role and based on organizations of similar size, revenues, and geographic location. The ceo will annually recommend to the director of human resources the merit increase amount based on this benchmarking data and based on results of the executive director's performance appraisal. All other officers and key employees: for initial hires, the director of human resources provides the executive director/ceo and cfo/cdo with a recommended compensation range commensurate with the role based on compensation data from multiple benchmarking surveys and statistics from organizations of similar size, revenues, and geographic location. The human resources director along with the executive director/ceo and cfo/cdo, determines the compensation amount from within the recommended ranges. Thereafter and annually, the human resources director performs annual compensation benchmarking for all positions using multiple salary surveys to ensure compensation is competitive with the market and appropriate based on consideration of internal equity factors. From this compensation benchmarking process, the human resources director identifies positions which may be eligible for a market adjustment pay increase and provides data to the executive director/ceo and cfo and cdo and discussion and finalization of the amount to be awarded. Market adjustments are provided prior to a merit increase, which is based on employee performance and company budget. Each year, the internal compensation committee establishes a merit matrix for ranges of merit percentages which may be awarded to staff based on their performance over the past year. The human resources director provides managers and directors this merit matrix and instructions for how to determine the appropriate merit increase percentage for direct reports. Managers of direct reports make their recommendation to their vp, who has ultimate responsibility for approving the merit percentage. Any compensation changes are documented and placed in the employee's file.”

“The governing documents and conflict of interest policy are available to the public upon request. The organization's financial statements are available to the public on aorn's website.”