Health Ventures

“Peacehealth, a washington non-profit corporation, which is exempt under section 501(c)(3) of the internal revenue code, is the sole member corporation of health ventures.”

“Peacehealth, a 501(c)(3) organization, is the sole member of health ventures and elects the health ventures board. As the sole member corporation, peacehealth has certain additional rights, including approving dissolution of health ventures and approving changes to health ventures' articles and bylaws.”

“See explanation above for form 990, part vi, section a, line 7a.”

“The organization's accounting department works closely with the outside accounting firm it engages (kpmg) to prepare and review the return. The evp, cfo and legal department review a draft of the form 990 and provide comments. The final draft is made available to the board of directors prior to filing the return.”

“A formal conflict of interest questionnaire is distributed to health ventures board members and officers at least annually. Responses are reviewed by the peacehealth organizational integrity department and any perceived or real conflicts of concern are brought to the board's attention for resolution. Board members and officers are obligated to bring any changes in status vis-a-vis the conflict of interest policy to the board's attention for review and disposition between survey periods. If peacehealth organizational integrity believes a disclosure poses a potential or actual conflict, it must indicate to the covered person how to dispose of or manage the conflict. Peacehealth organizational integrity involves leaders from other departments as needed to review and manage disclosed conflicts of interest. If peacehealth has reasonable cause to believe that an individual has failed to disclose an actual or possible conflict of interest or otherwise violated this policy or refused to cooperate in an investigation related to compliance with this policy, it must inform the person of the basis for the belief and afford an opportunity to explain the alleged failure to disclose. If after hearing the response and making such further investigation as may be warranted in the circumstances, peacehealth determines a person has in fact failed to disclose an actual or possible conflict of interest, it may take appropriate disciplinary and corrective action up to and including dissolution of the person's affiliation with peacehealth.”

“This response refers to part vi, lines 15a and 15b. The independent chair of the peacehealth board of directors reviews and recommends, in partnership with the representatives of an independent executive compensation consultant retained by the board of directors, the compensation of peacehealth's president/chief executive officer. The board of directors has ultimate approval authority for the compensation for the president/chief executive officer. Furthermore, the independent compensation consultant, with support from members of the human resources department, determines comparability data across various industry and applicable for-profit/not-for-profit organizations for periodically informing the governance committee of the board on the market competitiveness of pay for peacehealth executives. Discussions and decisions made during the committee meetings are documented in meeting minutes. The most recent compensation review was completed in september 2019, and included the president/chief executive officer, executive vice presidents, senior vice presidents, network chief executives, medical group chief executive, and other senior network roles (including cfo, coo, cao).”

“All governing documents, including the conflict of interest policy, and financial statements are available on request.”

“Partnership book/tax differences $ 349,441 health ventures reports the revenue and expense items from the underlying joint ventures per the irs form(s) schedule k-1. These schedule(s) k-1 are done on a calendar year basis and use tax reporting rules. The books and records of health ventures are done on a 6/30 fiscal year and use generally accepted accounting principles (gaap) reporting rules. These different accounting methods lead to book-to-tax differences, and these differences are shown on the schedule o above. The book-to-tax differences outside of current year revenue and expense are accounted for in the line 9 description item other book/tax differences. The riverbend ambulatory surgery center, llc (rasc) is consolidated with health ventures for book/gaap reporting. Because the book/gaap ownership and control thresholds for consolidation are not applicable for tax reporting, the consolidation of rasc is removed on this form 990.”