2025-11-17T18:03:07-06:00 2024-12-31 390859910 BAKER TILLY ADVISORY GROUP LP 101 SECOND STREET SUITE 900 SAN FRANCISCO CA 94105 990 2024-01-01 237290564 SATELLITE HEALTHCARE INC SATE 6504043600 860 HILLVIEW COURT SUITE 250 MILPITAS CA 95035 STEVE SPRINGER SVP, FINANCE 6504043600 2025-11-15 1 1 WENDY CAMPOS P00448102 4159561500 2025-11-17 2024 2025-03-06 01:10:19Z CHRISTOBEL SELECKY 860 HILLVIEW COURT SUITE 250 MILPITAS CA 95035 125288152 0 X WWW.SATELLITEHEALTH.COM X 1973 CA SINCE 1973, THE MISSION HAS BEEN TO MAKE LIFE BETTER FOR THOSE WITH KIDNEY DISEASE BY SUPPORTING RESEARCH, PROVIDING EDUCATION, AND ENSURING ACCESS TO CARE FOR THOSE AFFECTED. X 3 3 2607 0 54616319 23245774 0 0 203959091 27891338 -70263101 63468263 966316 469203 134662306 91828804 291520 174643 0 0 146085055 21340138 0 0 0 132472636 54892928 278849211 76407709 -144186905 15421095 390135239 138745619 156069303 68610903 234065936 70134716 X SINCE 1973, THE MISSION HAS BEEN TO MAKE LIFE BETTER FOR THOSE LIVING WITH KIDNEY DISEASE BY SUPPORTING RESEARCH, PROVIDING EDUCATION, AND ENSURING ACCESS TO CARE FOR ALL PATIENTS WITH KIDNEY DISEASE. 0 0 26914182 174643 3697672 KIDNEY DIALYSIS: CHRONIC KIDNEY DISEASE ("CKD") IS A PUBLIC HEALTH PROBLEM IN THE UNITED STATES THAT IMPACTS APPROXIMATELY 37 MILLION AMERICANS. IT IS WELL KNOWN THAT HYPERTENSION AND DIABETES ARE TWO LEADING CAUSES OF KIDNEY FAILURE. THE 2021 UNITED STATES RENAL DATA SYSTEM REPORT SHOWS THAT OF 815,896 AMERICANS WHO LIVE WITH END STAGE RENAL DISEASE ("ESRD"), CLOSE TO 69.0% ARE TREATED BY DIALYSIS AND 31% WITH A KIDNEY TRANSPLANT. SATELLITE HEALTHCARE OWNS AND OPERATES 5 IN-CENTER HEMODIALYSIS FACILITIES (SATELLITE DIALYSIS) AND HOME DIALYSIS TRAINING CENTERS (WELLBOUND) PROVIDING A VARIETY OF TREATMENT OPTIONS TO OUR PATIENTS. IN 2024, SATELLITE HEALTHCARE PROVIDED OVER 112,801 DIALYSIS TREATMENTS AND SERVICES TO OVER 350 PATIENTS IN CALIFORNIA, HAWAII, AND TENNESSEE. IN ADDITION, SATELLITE EMPLOYEES PROVIDED DIALYSIS SERVICES TO PATIENTS AT AN ADDITIONAL 80 IN CENTER CLINICS THROUGH A MANAGEMENT SERVICES AGREEMENT WITH U.S RENAL CARE PROVIDING OVER 1 MILLION DIALYSIS TREATMENTS IN 2024.PERITONEAL DIALYSIS AND HOME HEMO CENTER: WELLBOUND, A SATELLITE HEALTHCARE COMPANY, IS THE FIRST HEALTHCARE SERVICES COMPANY TO SPECIALIZE IN THE DELIVERY AND SUPPORT OF DAILY HOME DIALYSIS THERAPIES THROUGH FREE-STANDING, PATIENT-FRIENDLY CENTERS OF EXCELLENCE. OUR UNIQUE CARE MODEL IS BUILT ON THE PREMISE THAT EARLY-STAGE PATIENT EDUCATION IS THE FIRST STEP IN AN EFFECTIVE TREATMENT PROGRAM. AS SUCH, WE DEDICATE SIGNIFICANT RESOURCES TO REACHING PATIENTS BEFORE THEY REQUIRE DIALYSIS. ONCE DIALYSIS IS REQUIRED, WELLBOUND'S GOAL IS TO ENABLE NEPHROLOGISTS TO EASILY OFFER SELF-CARE (HOME) DIALYSIS THERAPIES TO THEIR PATIENTS. WE STRIVE TO EMPOWER PATIENTS TO TAKE CHARGE OF THEIR HEALTH AND EXPERIENCE THE CLINICAL AND QUALITY OF LIFE BENEFITS ASSOCIATED WITH SELF-CARE DIALYSIS.WE STRIVE TO EMPOWER PATIENTS TO TAKE CHARGE OF THEIR HEALTH AND EXPERIENCE THE CLINICAL AND QUALITY OF LIFE BENEFITS ASSOCIATED WITH SELF-CARE DIALYSIS. SEE ALSO COMMUNITY BENEFIT REPORT BELOW.COMMUNITY BENEFIT REPORT: WE REMAINED TRUE TO OUR GOAL OF PROVIDING THE HIGHEST QUALITY, PATIENT-CENTERED CARE AND NEVER RESTED ON ITS LAURELS. AT OUR 5 CENTERS, WE PROVIDED MORE THAN 100,000 DIALYSIS TREATMENTS IN 2024. OUR PATIENTS AND REGULATORS EXPRESSED HIGH PRAISE FOR OUR EFFORTS. AN ANNUAL PATIENT EXPERIENCE SURVEY CONDUCTED SHOWED THAT 70 PERCENT OF SATELLITE CENTERS WERE RATED 4 OR 5 STARS OUT OF 5 STARS BY PATIENTS, COMPARED WITH THE NATIONAL AVERAGE OF 43%. IN THE 5-STAR RATINGS FOR QUALITY AWARDED BY CMS, 57 PERCENT OF OUR CENTERS ACHIEVED 4 OR 5 STARS, COMPARED WITH THE NATIONAL AVERAGE OF 23 PERCENT. THESE RATINGS ARE NO SMALL FEAT AND REFLECT THE SENTIMENTS OF IMPORTANT AND INFLUENTIAL AUDIENCES.IN 2024, OUR CHARITABLE CONTRIBUTIONS TOTALED $175,000 FOR UNCOMPENSATED CARE, GRANTS AND INTERNSHIPS. SATELLITE HEALTHCARE SUPPORTED VARIOUS NATIONAL KIDNEY FOUNDATION AND AMERICAN KIDNEY FUND ACTIVITIES. THESE ACTIVITIES ALLOWED US TO COLLABORATE WITH LONGTIME COMMUNITY PARTNERS ON EDUCATIONAL OPPORTUNITIES AND ADVOCACY EFFORTS, AMONG OTHERS. SATELLITE HEALTHCARE PROVIDED SCHOLARSHIPS AND INTERNSHIPS AND FELLOWSHIPS. SATELLITE HEALTHCARE SPONSORS FELLOWS FROM STANFORD UNIVERSITY AND OTHER ACADEMIC INSTITUTIONS TO HELP TRAIN AND INSPIRE THE NEXT GENERATION OF NEPHROLOGY CLINICAL AND RESEARCH PROFESSIONALS DURING A ONE-YEAR FELLOWSHIP AT SATELLITE HEALTHCARE. IN OUR FELLOWSHIP PROGRAM, NEPHROLOGY PHYSICIANS-IN-TRAINING SPEND A FELLOWSHIP YEAR AT SATELLITE HEALTHCARE FOCUSED ON DIALYSIS-RELATED RESEARCH AND QUALITY IMPROVEMENT PROJECTS DIRECTLY RELATED TO PATIENT CARE DELIVERY AT SATELLITE. 26914182 1 0 0 1 0 0 0 0 0 0 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 1 0 0 1 50 0 1 2607 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 3 3 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 0 CA IL X US RENAL CARE INC 2147362700 860 HILLVIEW COURT SUITE 250 MILPITAS CA 95035 THOMAS WILLIAMS DIRECTOR & INTERIM CEO (THRU 3/24) 40.00 X 103827 0 2423 CHRISTOBEL SELECKY DIRECTOR & PRESIDENT 3.00 X X 24999 0 0 GLEN CHERTOW DIRECTOR 3.00 X 24999 0 0 LUIS ALVAREZ DIRECTOR (THRU 6/24) 3.00 X 27501 0 0 ELIZABETH BURR DIRECTOR (THRU 6/24) 3.00 X 22500 0 0 SARAH BLANCHARD DIRECTOR (THRU 6/24) 3.00 X 24999 0 0 JOHN PANETTA DIRECTOR (THRU 6/24) 3.00 X 0 0 0 ROBERT FAHLMAN DIRECTOR (THRU 6/24) 3.00 X 31251 0 0 MARK CAPUTO MANAGER & SPECIAL ADVISORY TO CEO 40.00 X 0 0 0 MARY DITTRICH CHIEF MEDICAL OFFICER 40.00 X 0 0 0 RYAN PARDO GENERAL COUNSEL & SECRETARY 40.00 X 0 0 0 STEVE SPRINGER SVP OF FINANCE 40.00 X 0 0 0 MEREDITH HUGO SVP/CAO 40.00 X 0 0 0 HUSSEIN WAEL CMO - RESEARCH (THRU 1/24) 40.00 X 312250 0 1647 SREEKANTH KAMOJJALA CHIEF TECHNOLOGY OFFICER (THRU 4/24) 40.00 X 379547 0 5661 BRIGITTE SCHILLER MORAN FORMER CHIEF MEDICAL OFFICER 0.00 X 135081 0 0 BERNADETTE N VINCENT FORMER COO 0.00 X 433031 0 0 KEN J LEIDNER FORMER CHIEF GROWTH OFFICER 0.00 X 150000 0 0 1669985 0 9731 489 1 1 0 US RENAL CARE INC 5851 LEGACY CIRCLE SUITE 900 PLANO TX 750245982 MANAGEMENT SERVICES 5177058 SPERIDIAN TECHNOLOGIES 2400 LOUISIANA BLVD NE BLDG 3 ALBUQUERQUE NM 87110 IT CONSULTING 533540 MCDERMOTT WILL & EMERY 2801 N HARWOOD ST SUITE 2600 DALLAS TX 75201 LEGAL SERVICES 386870 BETHSAIDA NEPHROLOGY AND INTERNAL MEDICI 3003 DICKINSON DR LAREDO TX 78041 MEDICAL SERVICES 308750 BARNETT MEDICAL SERVICES 8457 TRAMINER COURTE SAN JOSE CA 95135 BIO MEDICAL SERVICES 212415 5 DIALYSIS/ANCILLARY 621400 27891338 27891338 27891338 1372171 104420 1267751 95555440 33459348 62096092 62096092 54042696 8053396 ADMINISTRATIVE SERVICES 561000 469203 469203 469203 91828804 27891338 54616319 9321147 174643 174643 262499 262499 10799456 10508256 291200 7551509 2349682 5201827 2726674 821367 1905307 4082844 2641579 1441265 4463978 22686 4441292 79567 42482 37085 2865 2865 3777154 861862 2915292 303318 3585 299733 2267391 436806 1830585 5147577 15420 5132157 5573967 2558456 3015511 742887 146083 596804 350 350 1442217 422 1441795 8921425 1824326 7097099 514809 175203 339606 OTHER EXPENSES 11922642 649299 11273343 MEDICAL SUPPLIES 4643442 3152684 1490758 TAXES AND LICENSES 715135 307086 408049 EQUIPMENT RENTAL AND MA 291360 222255 69105 76407709 26914182 49493527 0 25696570 45507508 9011785 15381685 13213956 3538056 545370 0 536717 1261875 6051558 3998301 83892066 60002023 49517380 23890043 3505638 0 4255161 0 185073743 69393 5914480 808606 86812881 44290152 390135239 138745619 56956965 52000427 60330723 2245294 38781615 14365182 156069303 68610903 X 234065936 70134716 234065936 70134716 390135239 138745619 X 15421095 1375413 -180727728 X 0 0 0 X PART I, LINE 3 SATELLITE HEALTHCARE INC (SHI) DOES NOT MEET THE DEFINITION OF A HOSPITAL FOR THE PURPOSE OF SCHEDULE H. SHI IS NOT REQUIRED TO BE LICENSED, REGISTERED, OR SIMILARLY RECOGNIZED BY THE STATE AS A HOSPITAL, THEREFORE A SCHEDULE H IS NOT REQUIRED TO BE COMPLETED. 0 0 0 76407709 76407709 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 46847 40000 43308 130155 250000 250000 250000 250000 1000000 1500000 2312690 2096152 216538 17411370 10422101 6989269 64165144 47483770 16681374 2862 2862 23890043 SECURITY DEPOSIT 327881 DUE TO/FROM AFFILIATES 28700205 DEFERRED TAX ASSET 1877296 ROU ASSET 13384770 44290152 DEFERRED EXPENSE 175044 LEASE LIABILITY 14190138 14365182 1 NATIONAL KIDNEY FOUNDATION 30 E 33RD ST NEW YORK NY 10016 131673104 501C(3) 20000 0 2024 AUTHORS LUNCHEON PULITZER PRICE SPONSOR; 2024 56TH ANNUAL MEDICAL SYMPOSIUM AMERICAN KIDNEY FUND 11921 ROCKVILLE PIKE SUITE 300 ROCKVILLE MD 20852 237124261 501C(3) 38074 0 GENERAL SUPPORT 2 0 PART I, LINE 2: RESEARCH GRANTEES ARE SELECTED BY SATELLITE HEALTHCARE'S RESEARCH COMMITTEE. BY NOVEMBER 30 OF EACH CALENDAR YEAR, THE PRINCIPAL INVESTIGATOR MUST SEND 1) A TWO PAGE ABSTRACT SUMMARIZING THE PROGRESS OF THE FUNDED RESEARCH, AND 2) AN UPDATED LIST OF ALL CURRENT AND PENDING SUPPORT, INCLUDING SPECIFIC AIMS, KEY PERSONNEL, DIRECT AND INDIRECT BUDGET COSTS, AND OTHER PERTINENT INFORMATION. CONTINUED FUNDING WILL BE CONTINGENT UPON THE RESEARCH COMMITTEE'S SATISFACTION REGARDING THE PROGRESS OF THE FUNDED RESEARCH AND LACK OF DUPLICATION BETWEEN SATELLITE RESEARCH FUNDING AND FUNDING FROM OTHER SOURCES. THE FINAL PAYMENT WILL BE CONTINGENT UPON THE PRINCIPAL INVESTIGATOR COMPLYING WITH ALL CONDITIONS OF THE AWARD. SATELLITE HEALTHCARE INC. MAY SPONSOR AN ANNUAL SYMPOSIUM EACH YEAR. THE PURPOSE OF THIS MEETING IS TO PROVIDE A FORUM FOR RESEARCHERS SUPPORTED BY THE EXTRAMURAL GRANTS PROGRAM TO SHARE THEIR FINDINGS WITH MEMBERS OF THE RESEARCH COMMITTEE AND SATELLITE HEALTHCARE RESEARCH TEAM, AND RECEIVE CONSTRUCTIVE FEEDBACK, AND PARTICIPATE IN A FREE EXCHANGE OF IDEAS. X X X X 1 0 0 0 0 1 0 1 0 BERNADETTE N VINCENT FORMER COO 0 0 0 0 433031 0 0 0 0 0 433031 0 0 0 SREEKANTH KAMOJJALA CHIEF TECHNOLOGY OFFICER (THRU 4/24) 93750 0 89863 0 195934 0 5661 0 0 0 385208 0 0 0 HUSSEIN WAEL CMO - RESEARCH (THRU 1/24) 18125 0 0 0 294125 0 1647 0 0 0 313897 0 0 0 KEN J LEIDNER FORMER CHIEF GROWTH OFFICER 0 0 0 0 150000 0 0 0 0 0 150000 0 0 0 BRIGITTE SCHILLER MORAN FORMER CHIEF MEDICAL OFFICER 0 0 0 0 135081 0 0 0 0 0 135081 0 0 0 PART I, LINE 4A LINE 4A - THE FOLLOWING INDIVIDUALS RECEIVED A SEVERANCE PAYMENT DURING THE YEAR AND THE AMOUNTS WERE INCLUDED AS PART OF THEIR W-2: BERNADETTE N. VINCENT - $321,692 WAEL HUSSEIN - $214,200 SREEKANTH KAMOJJALA - $181,250 KEN J. LEIDNER - $150,000 BRIGITTE SCHILLER MORAN - $135,081 PART I, LINE 6 CERTAIN EXECUTIVES RECEIVE PART OF THEIR OVERALL COMPENSATION IN THE FORM OF AN ANNUAL INCENTIVE PAYMENT. THE ANNUAL INCENTIVE PAYMENT IS BASED ON THE NET EARNINGS OF SHI BY LOOKING AT THE EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION, AND AMORTIZATION (EBITDA). THE FORMULA IS REVIEWED AND APPROVED EACH YEAR IN ADVANCE BY THE COMPENSATION COMMITTEE AND BOARD OF DIRECTORS. IN ADDITION TO THE FORMULA BEING APPROVED ANNUALLY BY THE COMPENSATION COMMITTEE AND FULL BOARD OF DIRECTORS, A QUALIFIED INDEPENDENT COMPENSATION AND BENEFITS SPECIALIST (INDEPENDENT EXPERT) REVIEWS THE STRUCTURE AND METRICS USED IN THE ANNUAL INCENTIVE PLAN. PART I, LINE 7 BONUSES ARE PAID AS A PERCENTAGE OF BASE SALARY BASED ON THE GOALS COMPLETED BY THE INDIVIDUAL, WHICH IS 75% OF COMPANY GOALS AND 25% OF INDIVIDUAL GOALS. SALE OF WHOLLY OWNED DISREGARDED ENTITIES 2024-01-12 6785854 BOOK VALUE 621826478 US RENAL CARE INC 5851 LEGACY CIRCLE SUITE 900 PLANO TX 75024 CORPORATION SALE OF ASCEND CLINICAL, LLC INVESTMENT 2024-03-07 163822568 APPRAISALS EUROFINS CLINICAL TESTING US HOLDINGS INC 2425 NEW HOLLAND PIKE LANCASTER PA 17601 CORPORATION 0 0 0 1 PART II, LINE 2E: PERSON(S) INVOLVED: LUIS ALVAREZ PART II, LINE 2E: EXPLANATION OF INVOLVEMENT: BOARD MEMBER FACILIATED THE SALE OF ASCEND CLINICAL, LLC INVESTMENT AND COMPENSATION EARNED WAS RELATED TO CLOSING AND FACILITATING THE TRANSACTION. FORM 990, PART VI, SECTION A, LINE 3 IN MID-2023, THE COMPANY ENTERED INTO AN ADMINISTRATIVE AND MANAGEMENT SERVICES AGREEMENT ("MSA") WITH U.S. RENAL CARE, INC. UNDER THE MSA, U.S. RENAL CARE, INC. WAS ENGAGED AS AN EXCLUSIVE PROVIDER OF COMPREHENSIVE MANAGEMENT, ADMINISTRATIVE AND CONSULTING SERVICES FOR THE KIDNEY CARE BUSINESS OF SHI. MARK CAPUTO, MARY DITTRICH, RYAN PARDO, STEVE SPRINGER, AND MEREDITH HUGO ARE ALL LISTED AT PART VII AS AN OFFICER OF SHI AND WERE ALL COMPENSATED BY THE MANAGEMENT COMPANY FOR THEIR SERVICES PROVIDED TO SHI. THEIR REPORTABLE COMPENSATION FROM THE MANAGEMENT COMPANY FOR THEIR SERVICES PROVIDED TO SHI IS AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION'S ACCOUNTING DEPARTMENT WORKED CLOSELY WITH THE OUTSIDE ACCOUNTING FIRM IT ENGAGED TO PREPARE THE RETURN. THE FINAL DRAFT OF THE FORM 990 WAS REVIEWED BY THE CONTROLLER, CFO, AND THE AUDIT COMMITTEE. A COMPLETE COPY OF THE RETURN WAS PROVIDED TO THE ENTIRE VOTING BOARD BEFORE THE RETURN WAS FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE SATELLITE HEALTHCARE BOARD OF DIRECTORS IS CHARGED WITH MONITORING PROPOSED OR ONGOING TRANSACTIONS FOR CONFLICTS OF INTEREST AND ADDRESSING ANY POTENTIAL OR ACTUAL CONFLICTS. PURSUANT TO THE CONFLICTS OF INTEREST POLICY OF SATELLITE HEALTHCARE INC., AN ANNUAL CONFLICTS OF INTEREST DISCLOSURE STATEMENT, AIMED AT DETERMINING ANY FAMILY AND BUSINESS RELATIONSHIPS AND TRANSACTIONS OR OTHER TRANSACTIONS THAT MAY POSE A POTENTIAL CONFLICT, IS DISTRIBUTED TO ALL COVERED PERSONS (I.E., BOARD MEMBERS, OFFICERS, AND EXECUTIVE LEADERSHIP OR KEY EMPLOYEES). COVERED PERSONS ARE REQUIRED TO DISCLOSE REAL OR POTENTIAL CONFLICTS AT THE TIME WHEN SUCH CONFLICTS ARISE. WHEN SOMEONE BECOMES A COVERED PERSON AND ANNUALY THEREAFTER, EACH COVERED PERSON IS REQUIRED TO SIGN A STATEMENT AFFIRMING THAT HE/SHE: (1) HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY; (2) HAS READ THE POLICY AND UNDERSTANDS SAID POLICY; AND (3) AGREES TO COMPLY WITH ALL REQUIREMENTS OF THE POLICY, INCLUDING COMPLETING THE CONFLICTS OF INTEREST QUESTIONNAIRE. THE COMPLETED QUESTIONNAIRES ARE REVIEWED BY THE SATELLITE HEALTHCARE BOARD OF DIRECTORS OR THEIR DESIGNEE AND ANY PERSONS WITH ACTUAL OR POTENTIAL CONFLICTS ARE INFORMED VIA WRITTEN COMMUNICATION. THE PROCEDURES FOR ADDRESSING ANY CONFLICT OF INTEREST INCLUDES, BUT IS NOT LIMITED TO THE FOLLOWING: (1) THE CONFLICTING INTEREST IS FULLY DISCLOSED TO THE BOARD; (2) THE INTEREST PERSON RESPONDS TO FACTUAL QUESTIONS RELATED TO THE SUBSTANCE OF THE TRANSACTION OR THE ARRANGEMENT BEING CONSIDERED, AFTER WHICH HE/SHE SHALL LEAVE THE MEETING; (3) THE PERSON WITH THE CONFLICT OF INTEREST IS EXCLUDED FROM THE DISCUSSION AND APPROVAL OF SUCH TRANSACTION; (4) ALTERNATIVES TO THE PROPOSED TRANSACTION ARE INVESTIGATED, COMPETITIVE BIDS OR COMPARABLE VALUATIONS ARE OBTAINED; (5) ANY CONFLICTING ISSUES DURING THE COURSE OF A BOARD MEETING WHICH CANNOT BE RESOLVED ARE REFERRED TO THE GOVERNANCE COMMITTEE; AND (6) THE TRANSACTION OR ACTION MUST BE APPROVED BY A MAJORITY OF THE DISINTERESTED PERSONS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD UTILIZES A COMPENSATION COMMITTEE, COMPRISED SOLELY OF INDEPENDENT DIRECTORS (NONE OF WHICH HAVE A CONFLICT OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENT), TO BE ACCOUNTABLE FOR SETTING REASONABLE COMPENSATION PACKAGES FOR EACH OFFICER OR KEY EMPLOYEE, INCLUDING THE CEO. THE COMPENSATION COMMITTEE DEVELOPED, CONSISTENT WITH THE ORGANIZATION'S PHILOSOPHY AND PRINCIPLES, THE ANNUAL PERFORMANCE GOALS AND CRITERIA TO BE USED IN DETERMINING MERIT INCREASES AND VARIABLE COMPENSATION CRITERIA FOR OFFICERS AND KEY EMPLOYEES. THE COMPENSATION COMMITTEE ALSO HIRED A QUALIFIED INDEPENDENT COMPENSATION AND BENEFITS SPECIALIST (INDEPENDENT EXPERT) TO REVIEW, ANALYZE AND PROVIDE BENCHMARKING DATA FOR THE TOTAL COMPENSATION AND BENEFITS PACKAGES OF OFFICERS AND KEY EMPLOYEES. APPROPRIATE COMPARABILITY DATA WAS OBTAINED FROM THE INDEPENDENT EXPERTS, I.E., TOTAL ECONOMIC BENEFITS PAID BY SIMILARLY SITUATED ORGANIZATIONS (BOTH TAXABLE AND TAX-EXEMPT) FOR SIMILAR JOB RESPONSIBILITIES. THE COMMITTEE'S WRITTEN RECORDS INCLUDE THE (1) TERMS OF THE ARRANGEMENT WITH THE DISQUALIFIED PERSON (INCLUDING THE DATE THE ARRANGEMENT WAS APPROVED); (2) A LIST OF MEMBERS PRESENT DURING THE DEBATE ON THE TRANSACTION (AND HOW THE MEMBERS VOTED WHEN IT WAS APPROVED); AND (3) A DESCRIPTION OF THE COMMITTEE ARE ALSO DOCUMENTED IN MINUTES WHICH ARE APPROVED AT THE NEXT COMMITTEE MEETING. FORM 990, PART VI, SECTION C, LINE 19 WHILE FEDERAL TAX LAWS DO NOT MANDATE THAT THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS BE MADE AVAILABLE FOR PUBLIC INSPECTION, THE ORGANIZATION MAKES ITS FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. PART VI, SECTION B, LINE 16B: WHILE SATELLITE HEALTHCARE, INC. HAS NOT ADOPTED A WRITTEN POLICY OR PROCEDURE REQUIRING STEPS BE TAKEN TO SAFEGUARD ITS TAX-EXEMPT STATUS WHEN ENTERING INTO JOINT VENTURE AGREEMENTS, BY PRACTICE, IT ONLY ENTERS INTO SUCH AGREEMENTS WHERE 1) SATELLITE HEALTHCARE, INC. IS THE MANAGING PARTNER AND 2) SPECIFIC LANGUAGE HAS BEEN ADDED TO THE JOINT VENTURE AGREEMENT WHICH STATES THAT THE JOINT VENTURE WILL FOLLOW SATELLITE HEALTHCARE, INC.'S CHARITABLE MISSION AND REMAIN IN-LINE WITH THOSE PRINCIPLES. AN EXAMPLE OF THE TYPICAL LANGUAGE USED IS AS FOLLOWS: SECTION 1.2 CHARITABLE PURPOSES. THE LLC AND THE CENTER SHALL AT ALL TIMES BE OPERATED AND MANAGED IN A MANNER THAT FURTHERS THE CHARITABLE AND COMMUNITY-BASED HEALTHCARE PURPOSES, MISSION, VISION AND VALUES OF SATELLITE. THE LLC AND THE CENTER SHALL BE OPERATED AND MANAGED IN A MANNER THAT: (A) PROVIDES ACCESS TO PATIENT CARE SERVICES BASED ON MEDICAL NECESSITY, WITHOUT REGARD TO CHARACTERISTICS SUCH AS A PERSON'S RACE, RELIGION, CREED, NATIONAL ORIGIN, GENDER, AGE, SEXUAL ORIENTATION, PHYSICAL OR MENTAL DISABILITY, PAYOR SOURCE OR ABILITY TO PAY; (B) ESTABLISH, MAINTAIN AND COMMUNICATE ITS FINANCIAL ASSISTANCE POLICIES AND PROCEDURES FOR THE CENTER THAT ARE CONSISTENT WITH SATELLITE'S POLICIES AND PROCEDURES; (C) PROVIDES ACCESS TO PATIENT CARE SERVICES TO INDIVIDUALS COVERED BY MEDICARE, MEDICAID/MEDI-CAL AND OTHER FEDERAL AND STATE GOVERNMENTAL PAYMENT PROGRAMS; AND (D) WILL NOT, IN THE REASONABLE OPINION OF SATELLITE, ON ADVICE OF SATELLITE'S LEGAL AND/OR TAX COUNSEL, CAUSE SATELLITE TO ACT OTHER THAN EXCLUSIVELY IN FURTHERANCE OF ITS TAX EXEMPT PURPOSES, ADVERSELY AFFECT ITS EXEMPT STATUS UNDER SECTION 501(C)(3) OF THE CODE OR CAUSE ITS SHARE OF THE LLC'S INCOME TO BE TAXED AS "UNRELATED BUSINESS TAXABLE INCOME" WITHIN THE MEANING OF SECTION 511 OF THE CODE TO THE EXTENT THAT SUCH UNRELATED BUSINESS TAXABLE INCOME IS SUBSTANTIAL IN LIGHT OF THE OVERALL OPERATIONS OF SATELLITE HEALTHCARE, INC. FORM 990, PART XI, LINE 9: CURRENT YEAR RECLASS OF NEGATIVE ASSETS/INVESTMENTS -180,727,728. FORM 990, PART IV, LINE 12 AND PART XII SATELLITE HEALTHCARE DOESN'T HAVE AUDITED FINANCIAL STATEMENTS AT THE TIME OF THE TAX RETURN BEING FILED. THE AUDITED FINANCIAL STATEMENTS ARE IN PROCESS AND WILL BE ISSUED FOR YEAR ENDED DECEMBER 31, 2024 AFTER THE TAX RETURN HAS BEEN FILED. 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