Wakemed Group Return

“Members, stockholders, or other persons with power to elect or appoint memebers eight members of the board are appointed to the board of directors by wake county.”

“Decisions reserved to members or stockholders the wake county board of commissioners holds limited approval over some governing body decisions pertaining to articles of incorporation. The transfer agreement with wake county indicates approval/consent for transactions pertaining to substantial disposition of assets and covenants of liens.”

“Process used to review the form 990 the 990 and schedules are reviewed by the finance committee of the wakemed board of directors and then they recommend approval to the wakemed board. A final copy is provided to the wakemed board of directors before filing.”

“Monitoring and enforcement of compliance with conflict of interest policy the organization enforces the conflict of interest policy in various ways. Each year members of the wakemed board, committees with board delegated power, the ceo, corporate staff, executive staff, directors and managers are required to complete and submit a conflict of interest questionnaire. These individuals are required to provide written documentation of any potential conflict of interest, identifying material financial interest and/or personal conflicts of interest. Remedial measures implemented address conflicts include abstention from voting on certain issues, as well as recusal from the decision making process and participation involving the identified issue/area. The code of conduct provides guidance on gifts and travel. Gifts should not be accepted and prior to any travel and lodging paid by a third party, written approval must be obtained from an executive vice-president. Also, employees who own or work in a private business outside of wakemed are not allowed to recruit or promote their products and services during work hours or through wakemed printed materials. Form 990, part vi, section b, lines 15a & 15b process for determining compensation of ceo, exec. Dir., or top mgmt official all compensation reported on part vii of the form 990 is paid by wakemed hospital, a common paymaster. Wakemed hospital's human resource department regularly reviews the compensation for the ceo, officers, and key employees. The facility regularly uses an independent consulting firm as a source of compensation information, benchmarking, and to review to ensure consistent and fair compensation practices. The ceo's compensation is approved by the wakemed hospital board.”

“Process for making documents available to the public the 990 is available by request and is published on guidestar and other websites. Financial statements are publicly available through the north carolina medical care commission as it relates to tax exempt debt. The annual audited financial statements and transfer agreement are provided each year to wake county commissioners and become public information. Governing documents are avialable through the secretary of states office. The conflict of interest policy is available to employees (but is not posted publicly). The foundation has a conflict of interest policy. Directors sign a statement confirming that they have received, read, and understand the policy which is incorporated in the wakemed foundation bylaws. Furthermore, directors sign that they have no knowledge of any conflicts of interest. Form 990, part vii, section a, column (e) all employees of the subordinate organizations, included those reported on the wakemed group return, are paid by the parent organization, wakemed.”

“Also doing business as: wake county hospital system medical education foundation wake medical center foundation”

“Other changes in net assets intercompany cash transfers $26,574,950 transfer of fixed asset $ 72,706 transfer between affiliates $ 500,231 miscellaneous $ (3) ============= total $27,147,884”

“Description:other purchased services total fees:587879”

“Description:janitorial maintenance total fees:2030454”

“Description:landscaping total fees:413781”