The Wallace Medical Concern

“The form 990 was reviewed by management. A copy of the form 990 will be provided to all board members prior to filing.”

“Each director, officer, and member of a committee with governing board-delegated powers is required to sign and submit a conflict of interest disclosure statement for consideration by the board of directors or committee with board-delegated powers. After disclosure of the financial interest and all material facts, this interested person is required to leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the potential conflict. In addition, a periodic review is performed by the governing board and, at a minimum, includes whether compensation arrangements and benefits are reasonable based on competent survey information, and the result of arm's length bargaining.”

“The salary of the chief executive officer is determined by the board of directors after a review of the non-profit and health center salary survey for the region. This process was last completed in 2021.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“The officers of the board of directors and one additional director serve as the members of the executive committee. The ceo sits on the executive committee as an advisor, but does not have a vote. The executive committee has all of the powers and authority of the board of directors when acting in a reasonable manner during an emergency as delegated by the board, if it is impractical to convene a meeting of the board of directors.”

“Contracted employees: program service expenses 817,117. Management and general expenses 265,011. Fundraising expenses 22,084. Total expenses 1,104,212.”