Lake Regional Health Foundation

“Lake regional health system, a missouri nonprofit corporation is the sole member of the organization.”

“The board of directors are elected by the sole member at the annual meeting of the sole member.”

“The following actions will require approval of the Member: (i) amending the Articles of Incorporation in accordance with Article XI of these Bylaws; (ii) amending the Bylaws of the Foundation in accordance with Article XI of these Bylaws; (iii) borrowing of funds; (iv) transfers of cash or property by the Foundation; (v) all investment and banking decisions with respect to assets of the Foundation; and (vi) approval of the Foundation's budget, including the determination of compensation paid to persons providing services to or on behalf of the Foundation.”

“The form 990 is prepared by an independent accounting firm based on the audited financial statements and information provided by the accounting department of the organization. The 990 was thoroughly reviewed by the manager of accounting and cfo. After any changes were made, the members of the board of directors were provided a copy. The 990 was presented to the board by the independent accountants who prepared the 990, and the board had the opportunity to ask any questions before the 990 was filed.”

“Each year, all members of the board of directors are required to review the conflict of interest policy and properly disclose any actual, potential, or perceived conflict of interest. A copy of the conflict of interest policy is provided to each director at the time of appointment, and to each new principal officer, and annually to every interested person. Each interested person is required to submit a statement to the ceo annually verifying the understanding with the policy and stating that all conflicts have been disclosed, or that no conflicts exist. In the event an interested person develops a potential conflict of interest, the person must immediately upon learning about the potential conflict disclose the nature of the conflict to the board of directors. The person then leaves the board or committee meeting while the issue is discussed among remaining board members to determine whether a conflict exists by majority vote. If a conflict does exist, a separate person is assigned to investigate alternatives to the conflict and determine if a more advantageous transaction or arrangement is possible. If this is not possible, the board then decides by majority vote if the transaction or arrangement is in the organization's best interest, is fair and reasonable, and whether it should or should not be entered. If the organization has reasonable cause to believe that an interested person has failed to disclose actual or possible conflicts of interest, the person will be informed of this basis for such belief and will be given an opportunity to explain the alleged failure to disclose. If, after hearing the person's response and conducting further investigation, the organization determines that the person has in fact failed to disclose an actual or possible conflict of interest, appropriate corrective action will be taken. Additionally, the organization has implemented a tax compliance questionnaire that asks detailed questions, and provides respondents with appropriate definitions and instructions, to enable the organization to gather information required to answer questions on the 990 relating to the following areas: 1) the number of independent voting board members, 2) relationships between interested persons, 3) loans to or from interested persons, 4) grants or assistance benefiting interested person, and 5) business transactions involving interested persons.”

“Certain aspects of the financial statements are available in the organization's annual report which can be found on the organization's website. The organization's governing documents and conflict of interest policy are not available to the general public.”

“Board member jim judas is a board member of lake regional health system (lrhs), a related tax exempt organization. Officers paula littleton, kevin mcroberts, and trisha creach are employed by lrhs.”

“CONSULTING FEES - Total Expense: 24899, Program Service Expense: 0, Management and General Expenses: 24899, Fundraising Expenses: 0; OUTSIDE SERVICES - Total Expense: 66500, Program Service Expense: 0, Management and General Expenses: 66500, Fundraising Expenses: 0;”

“TRANSFERS FROM AFFILIATES - 16486; Total - 16486;”