Grmc Inc

“The organization is a membership not a stock corporation under West Virginia State law. The Organizations sole coporate member is West Virginia United Health System, inc. a related not-for-profit organization.”

“West Virginia United Health System, Inc., as the sole corporate member, also has the right to remove any member or members of the Corporations governing board, approve amendments to the articles of incorporation or bylaws of the Corporation, Approve the dissolution, merger of or with, or consolidation by the Corporation, Approve the sale, lease, exchange, mortgage, pledge or other disposition of all or substantially all of the Corporations assets, and Appoint and remove the President and Chief Executive Office President/CEO of the Corporation and consultation with the Corporations Board of Trustees.”

“The Form 990 is prepared by the West Virginia United Health System, Inc. Tax Team and then reviewed by the Director of Finance and VP of Finance and Operations at Garrett Regional Medical Center. After gaining approval from the Director of Finance, it is then presented to the board members for a final review. Upon board review, it is signed and submitted to the IRS.”

“Upon employment and annually thereafter, each key employee and officer of the organization is required to complete a conflict of interest and disclosure form, providing sufficient information about his/her personal interests and relationships so the organization can 1 determine whether any potential or actual conflicts of interest may exist, and 2 monitor work or service assignments to avoid placing the key employee, officer, or director in a position where there may be an appearance potential or actual of a conflict of interest or a question of objectivity. The completed conflict of interest and disclosure forms for directors are returned to the organization. These members are monitored and not assigned any projects that would create any potential conflict of interest. Any board member with a potential conflict recuses himself or herself from all discussions regarding the conflict.”

“The compensation of the CEO is determined by the WV United Health System Compensation Committee based upon a salary and benefit survey prepared by an independent company using data of comparable facilities. This information is provided to the compensation committee which is made up of independent board members who are then responsible for setting the compensation packages offered to each executive, ensuring that the compensation package does not exceed fair market value based on the data from the consultant group. The minutes of the compensation committee are contemporaneously documented and retained. A full compensation survey was completed in 2023 for 2024 compensation amounts.”

“The compensation of all officers at the Vice President level and below is determined based upon a salary and benefit survey prepared by an independent company using data of comparable facilities. This data is then interpreted and provided to an independent compensation committee. The independent compensation committee then uses this data to determine a fair and reasonable compensation package. All relevant data as well as minutes from each meeting are retained.”

“All financial and governing documents, including the conflict of interest policy are maintained onsite and made available to the public upon written request.”

“Program Service Expenses 18,993,302, Grants and allocations 0, Revenue 30,435,749 Garrett Regional Medical Center includes 55 inpatient beds, a four bed intensive care unit, a 10 bed subacute rehabilitation unit, a family centered maternity suite, a 13 bed outpatient surgical unit with a four bed surgical suite, and 24/7 emergency services. The hospitals laboratory, radiology, and cardiopulmonary departments are full service ancillary units equipped with state of the art technology. GRMC expanded its healthcare services with the 2019 launch of its Oakland regional behavioral clinic and the establishment of the Grantsville Medical Center in 2017, offering primary, urgent, and specialty care in northern Garrett County.”

“Other changes in Net Assets include Change in Restricted Net Assets of 262,726, Related Organization Capitalization of 12,840,220, JOA Contribution to SOM of 58,192, Pension True Up of 555,256, Cash Conversion of 996 and 7 rounding.”

“In 2023, West Virginia United Health System WVUHS, EIN 55-0754713, transitioned to a centralized accounts payable process in which WVUHS made the majority of vendor payments and then issued the required 1099s. WVUHS is reimbursed by the entities for their portion of payments made, vendor payments that meet the Top 5 Independent Contractor reporting requirements are reported in Part VII, Section B of the reporting entity.”

“GRMC, Inc. reported contributions on Schedule B that were not recorded on page 9 as revenue. These contributions were not reported as revenue on the financial statements, but were reported as net assets.”