Community Hospital of Long Beach

“DESCRIBE THE PROCESS USED BY THE ORGANIZATION TO REVIEW FORM 990A draft Form 990 is reviewed by the Audit Committee. Any changes or questions are then forwarded to the preparer of the Form 990 so they may incorporate the changes into the Form 990. Before the final copy is e-filed with the Internal Revenue Service and California, the Form 990 is distributed to and reviewed by the entire Board of Directors. The Form 990 is then e-filed once the Board has issued its final approval.”

“DESCRIBE HOW THE ORGANIZATION MONITORS AND ENFORCES COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY.Conflict of Interest policies are distributed annually to the Board of Directors' members for their signatures and to return to the Chairperson. This formal process is used to determine if any new conflicts have arisen in the current tax year. Upon the identification of any conflicts, the Chairperson and the Board determine the appropriate course of action to take for resolution.”

“DESCRIBE THE PROCESS USED TO DETERMINE COMPENSATION FOR THE ORGANIZATION'S OFFICERS, EXECUTIVES AND EMPLOYEES.The Executive Committee of the Board of Directors meets to determine appropriate compensation for Director of Administration and is also tasked with the employee review process. The compensation process was last completed in February 2024 for the Director of Administration, who is the sole employee of the organization.”

“DESCRIBE HOW THE ORGANIZATION MAKES ITS APPLICATION AND RETURN AVAILABLE TO THE PUBLIC.The organization uses the following methods to make its application and return available to the public:1) Form 990 is posted on the California Attorney General's Registry of Charities and Fundraisers and can be viewed at https://oag.ca.gov/charities.2) Form 990 may also be accessed at www.guidestar.org.3) By request in writing and mailed to Community Hospital of Long Beach Foundation, Post Office Box 92456, Long Beach, CA 90809-2456.4) Submitting a request through the organization's website at www.chlbfoundation.org.5) Submitting a written request to Pamela Dingwell, Director of Administration, at [email protected].”

“DESCRIBE DISCLOSURE OF GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS:All governing documents, policies and financial statements are available to the public using the following methods:1) By request in writing and mailed to Community Hospital of Long Beach Foundation, Post Office Box 92456, Long Beach, CA 90809-2456.2) Submitting a request through the organization's website at www.chlbfoundation.org.3) Submitting a written request to Pamela Dingwell, Director of Administration, at [email protected].”

“Permanently Restricted Funds Restored to CHLBF = $100000”

“Restored Funds Held by Long Beach Community Foundation = $1666901”

“Temporarily Restricted Funds Restored to CHLBF = $1005925”

“STATEMENT CONCERNING CHANGES TO FUND BALANCE:Community Hospital Long Beach Foundation ("CHLBF"), during 2023, had transferred all of its investment funds held in a Charles Schwab brokerage account to Long Beach Community Foundation ("LBCF"), a 501c3 organization. The intent was that LBCF would pool and manage the funds and that arrangement has continued very successfully to the present.CHLBF erroneously treated the funds transfer as a charitable contribution to LBCF during 2023 but should have retained the funds on its books and records. Once the error was discovered during 2024, the funds were then restored to and reported on CHLBF's books. The erroneous thinking was that CHLBF was transferring ownership to LBCF when, in fact, CHLBF still maintains ownership and directs the use of the funds even today, but has agreed on how the funds are managed by LBCF.This restoration of funds matches CHLBF's Board of Directors original intent that LBCF manage the funds instead of a broker, and that CHLBF retain ownership of the funds and report all activities on its books. The net result is that all sources of investment income have increased for effective use of idle cash as mandated by the California Attorney General's Registry of Charities and Fundraisers.”