Saint Francis Foundation

“- nicole prieto and victor prieto have a family relationship - daniella vallurupalli and aneal vallurupalli have a family relationship”

“The organization made bylaw changes during the current fiscal year.”

“A copy of the form 990 has been reviewed by the audit committee and provided to all members of the board of directors to review before filing.”

“In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of committees with governing board delegated powers considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the governing board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. Compliance with the policy is being monitored via yearly questionnaire distributed by the organization.”

“The governance and compensation committee shall review the evaluations and determine the compensation for the president and controller. Reasonable compensation should be determined using comparable data from similar marketplace positions. Minutes of the deliberation and decisions shall be written, approved by the committee, and kept by the president or a confidential file. Compensation of other officers or key employees of the organization is determined by the president and approved by the compensation committee.”

“The financials statement and tax returns are made available on the organization's web-site.”

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

“The foundation reimburses saint francis memorial hospital for wages and related taxes. The hospital includes the forms w-2 and related payroll taxes in their company reports. The foundation had 7 employees in 2021.”

“In connection with the restatement noted in part xi, the foundation now acts as a fiscal agent for saint francis memorial hospital, the funds held on thier behalf are recorded as a libility on the saint francis foundation financial statements.”

“Change in gift annuity -5,987. Change in value charitable reminder trust 626,506.”

“During the year ended june 30, 2021 the foundation reconsidered the hospital's historical involvement in certain activities of the foundation concluding that this involvement does not provide the hospital with the ability to participate in the foundations' grant making priorities or its operations and is therefore no longer financially interrelated with the foundation in accordance with asc 958-20. As a result of no longer being fiscally interrelated entities, contributions previously record as contributions with donor restrictions on the statement of activities should have been recorded as a liability to the hospital. Accordingly, the foundation restated its beginning net assets as of july 1, 2020. The effect of the restatement was to decrease net assets by $4,523,842 and increase funds held for saint francis memorial hospital by $4,523,842.”