2025-05-15T10:50:12-05:00 2024-06-30 331498605 PLANTE & MORAN PLLC 3000 TOWN CENTER SUITE 100 SOUTHFIELD MI 48075 990 2023-07-01 383369438 COVENANT MEDICAL CENTER INC COVE 9895836006 1447 N HARRISON SAGINAW MI 48602 KEVIN ALBOSTA VP/CFO 9895836006 2025-05-13 1 1 DAVID LOWENTHAL P00378651 2483522500 2025-05-13 2023 2025-03-06 01:10:19Z COVENANT HEALTHCARE BETHANY CHARLTON 1447 N HARRISON SAGINAW MI 48602 834474409 0 X WWW.COVENANTHEALTHCARE.COM X 1997 MI TO PROVIDE DIVERSE MEDICAL CARE TO MEET THE HEALTH CARE NEEDS OF THE 14 COUNTIES IN EAST CENTRAL MICHIGAN WE SERVE. 12 9 5249 326 227181 166231 8686321 3052066 735709020 804438469 43604344 15516690 5294814 7566344 793294499 830573569 0 0 0 0 457146767 473764393 0 0 0 320304818 332338483 777451585 806102876 15842914 24470693 811272319 867284470 308717601 314055777 502554718 553228693 X TO PROVIDE DIVERSE MEDICAL CARE TO MEET THE HEATLH CARE NEEDS OF THE 14 COUNTIES IN EAST CENTRAL MICHIGAN WE SERVE. 0 0 713018106 804218878 ONE OF THE LARGEST, MOST COMPREHENSIVE HEALTH CARE FACILITIES NORTH OF METRO DETROIT, COVENANT HEALTHCARE IS PREPARED TO RESPOND TO THE DIVERSE MEDICAL NEEDS OF OUR REGION. WE OFFER A BROAD SPECTRUM OF PROGRAMS AND SERVICES RANGING FROM OBSTETRICS, NEONATAL AND PEDIATRIC CARE, TO ACUTE CARE INCLUDING CARDIOLOGY, ONCOLOGY, SURGERY AND MANY OTHER SERVICES ON THE LEADING EDGE OF MEDICINE. ALL OF OUR PROGRAMS AND SERVICES EXEMPLIFY OUR COMMITMENT TO PROVIDING QUALITY, COMPASSIONATE CARE. AS A MEDICAL FACILITY WITH MORE THAN 600 BEDS AND A COMPLETE RANGE OF MEDICAL SERVICES, COVENANT HEALTHCARE STANDS READY TO MEET THE NEEDS OF THE 14 COUNTIES IN EAST CENTRAL MICHIGAN WE SERVE. WITH MORE THAN 20 INPATIENT AND OUTPATIENT FACILITIES, COVENANT HEALTHCARE OFFERS CONVENIENCE AND EASY ACCESS TO HIGH QUALITY CARE. THE MEDICAL CENTER PROVIDED THE FOLLOWING FOR THE FISCAL YEAR 2024: 5,860 WOMEN'S AND CHILDREN'S CASES, 3,570 CARDIOLOGY CASES, 3,898 GENERAL MEDICAL CASES, 2,641 PULMONARY CASES, 1,850 NEURO CASES, AND 1,795 GI MED CASES. 713018106 1 1 0 1 0 0 0 0 0 0 1 1 0 1 1 0 0 1 0 0 1 0 0 0 0 0 1 1 0 0 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 0 0 1 183 0 1 5249 1 1 1 1 CJ 0 0 0 0 0 0 0 0 0 0 X 12 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 1 0 X KEVIN S ALBOSTA 9895832769 1447 N HARRISON SAGINAW MI 48602 BETHANY CHARLTON PRESIDENT 54.00 4.00 X X 850284 0 596516 JAMES MILROY CHAIRMAN 4.00 4.00 X X 0 0 0 DWIGHT MCNALLY VICE CHAIRMAN 4.00 4.00 X X 0 0 0 JOHN SHELTON SECRETARY 4.00 4.00 X X 0 0 0 JONATHAN GARDEY TREASURER 4.00 4.00 X X 0 0 0 MARK BASSET - PART YEAR BOARD MEMBER 4.00 4.00 X 0 0 0 AMY BUBEN - PART YEAR BOARD MEMBER 4.00 4.00 X 0 0 0 ELLEN CRANE BOARD MEMBER 4.00 4.00 X 0 0 0 PATRICK CURRY BOARD MEMBER 4.00 4.00 X 0 0 0 MICHAEL FIORE MD BOARD MEMBER/PHYSICIAN 50.00 4.00 X 441520 0 26491 CRAIG GOSLIN BOARD MEMBER 4.00 4.00 X 0 0 0 TIM HAUSBECK BOARD MEMBER 4.00 4.00 X 0 0 0 RENEE JOHNSTON BOARD MEMBER 4.00 4.00 X 0 0 0 HERB SPENCE BOARD MEMBER 4.00 4.00 X 0 0 0 KEVIN ALBOSTA VICE PRESIDENT 55.00 4.00 X 569523 0 238197 KEVIN BIRCHMEIER VICE PRESIDENT 50.00 4.00 X 472407 0 201930 FRANK FEAR VICE PRESIDENT 50.00 4.00 X 313025 0 30336 PATRICE LANCZAK VICE PRESIDENT 50.00 4.00 X 302062 0 9735 DR IRIS MARTEJA VICE PRESIDENT 50.00 4.00 X 502224 0 18804 DAVID NALL VICE PRESIDENT 50.00 4.00 X 280251 0 112933 DR MICHAEL SULLIVAN VICE PRESIDENT 50.00 4.00 X 502350 0 26279 JACKIE TINNIN VICE PRESIDENT 50.00 4.00 X 230707 0 26123 ADAM TOMPA VICE PRESIDENT 50.00 4.00 X 264535 0 24811 MATTHEW DEIBEL VICE PRESIDENT 50.00 4.00 X 77113 0 0 BAKRI KAAKEH PHYSICIAN 40.00 0.00 X 2054538 0 23340 MARK ZAKI PHYSICIAN 40.00 0.00 X 1609942 0 8977 JAMES FUGAZZI PHYSICIAN 40.00 0.00 X 1565094 0 23340 GEORGE MALLIARAS PHYSICIAN 40.00 0.00 X 1551464 0 23340 FRANK SCHINCO PHYSICIAN 40.00 0.00 X 1379094 0 22710 12966133 0 1413862 718 0 1 0 EPIC SYSTEMS CORPORATION PO BOX 88314 MILWAUKEE WI 53288 IT MTC SUPPORT 4917327 HEMA-TEC 23634 WOODWARD AVE PLEASANT RIDGE MI 48069 DIALYSIS SERVICES 2634415 PREFERRED MEDICAL MARKETING 15720 BRIXHAM HILL AVE CHARLOTTE NC 28277 COLLECTION SERVICES 2011725 ALLIANCE HNI HEALTH CARE PO BOX 772550 DETRIOT MI 48277 PET/CT SERVICES 1818968 DICKINSON WRIGHT PLLC 4800 FASHION SQ BLVD SAGINAW MI 48604 LEGAL SERVICES 1737517 47 353322 2698744 353322 3052066 PATIENT SERVICE REVENUE 621990 786318056 786098465 219591 JOINT VENTURES 621990 17296780 17296780 EDUCATIONAL REVENUE 611710 823633 823633 804438469 9030310 9030310 1016398 0 1016398 1016398 1016398 10387220 3900840 6486380 6486380 6486380 CAFETERIA SALES 722210 2938057 7590 2930467 SALES PPE 900099 446846 446846 MEDICAL RECORDS 900099 225731 225731 2939312 2939312 6549946 830573569 804218878 227181 23075444 5650143 5650143 402365531 367974645 34390886 11306638 10197050 1109588 31660130 28553131 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98000 0 0 0 98000 0 PART II-B, LINE 1: AN OUTSIDE CONSULTANT WAS ENGAGED IN LOBBYING ACTIVITIES ON BEHALF OF COVENANT MEDICAL CENTER DURING FISCAL YEAR ENDED JUNE 30, 2024. 13345779 13345779 283982083 198100571 85881512 6820662 6679425 141237 417646639 318107558 99539081 198907609 COMMON TRUST FUNDS 14229425 F LIMITED PARTNERSHIPS 224336 F HEDGE FUNDS 50499632 F OTHER 365739 F 65319132 INVESTMENTS IN UNCONSOLIDATED ENTITIES 28224790 DEFERRED COMP 457(B) 31582782 RIGHT OF USE ASSETS FOR LEASES 16188663 GROSS UP SELF INSURANCE 7154297 OTHER ASSETS 8120253 91270785 POST RETIREMENT HEALTH BENEFITS 14614454 ACCRUED PENSION 5898674 OTHER LONG TERM LIABILITIES 2561112 DEFERRED COMP 457(B) 31582782 SELF INSURANCE CLAIMS LIABILITY 28560782 LEASE OBLIGATIONS 12501169 95718973 CENTRAL AMERICA/CARIBBEAN 0 0 PROGRAM SERVICES SELF INSURANCE 2487417 CENTRAL AMERICA/CARIBBEAN 0 0 INVESTMENTS INVESTMENTS 47616103 0 0 0 0 0 0 50103520 0 50103520 1 0 1 0 0 0 1 1 X 1 X 1 X 1 1 1 0 1 1 1 26912 2041341 2041341 0.00260 1 84567 175710423 173670337 2040086 0.00260 2 111479 177751764 173670337 4081427 0.00520 235 15666 132144 1615 130529 0.00020 29 79325 18285127 5039413 13245714 0.01680 15365130 14448425 916705 0.00120 270 94991 666873 666873 0.00080 534 189982 34449274 19489453 14959821 0.01900 536 301461 212201038 193159790 19041248 0.02420 2 148218 148218 0.00020 6 43450 43450 0.00010 2 15000 632149 632149 0.00080 1 1997 1997 0.00000 32 1153 10966 30 10936 0.00000 43 16153 836780 30 836750 0.00110 1 17025367 110240896 92557919 17682977 X 1 1 1 COVENANT HEALTH CARE PARTNERS HEALTH CARE 0.50000 0.50000 2 MACKINAW SURGERY CENTER SURGERY CENTER 0.47850 0.52160 3 COVENANT LCR MACKINAW FC RENTAL 0.75840 0.24160 4 COVENANT POB LLC RENTAL 0.48920 0.51080 3 1 COVENANT MEDICAL CENTER INC (COOPER) 700 COOPER SAGINAW MI 48602 HTTP://WWW.COVENANTHEALTHCARE.COM/MAIN 1060000060 X X X X X 2 COVENANT MEDICAL CENTER INC (HARRISON) 1447 N HARRISON SAGINAW MI 48602 HTTP://WWW.COVENANTHEALTHCARE.COM/MAIN 1060000034 X X X X X 3 COVENANT MEDICAL CENTER INC (MARY FREE BED) 515 N MICHIGAN SAGINAW MI 48602 HTTP://WWW.COVENANTHEALTHCARE.COM/MAIN 1060000139 X X REHABILITATION UNIT COVENANT MEDICAL CENTER INC (COOPER) 1 0 0 1 X X X X X X X X X 23 1 1 1 1 X HTTPS://WWW.COVENANTHEALTHCARE.COM/CH/COMMUNITY-HEALTH-ASSESSMENT X 1 23 1 HTTPS://WWW.COVENANTHEALTHCARE.COM/CH/COMMUNITY-HEALTH-ASSESSMENT 0 1 X 200.000000000000 300.000000000000 X X X 1 1 X X X 1 X HTTP://WWW.COVENANTHEALTHCARE.COM/MAIN/FINANCIALASSISTANCEPOLICY.ASPX X HTTP://WWW.COVENANTHEALTHCARE.COM/MAIN/FINANCIALASSISTANCEPOLICY.ASPX X HTTP://WWW.COVENANTHEALTHCARE.COM/MAIN/FINANCIALASSISTANCEPOLICY.ASPX X X X X X X 1 X 0 X X X X 1 X 0 0 COVENANT MEDICAL CENTER INC (HARRISON) 2 0 0 1 X X X X X X X X X 23 1 1 1 1 X HTTPS://WWW.COVENANTHEALTHCARE.COM/CH/COMMUNITY-HEALTH-ASSESSMENT X 1 23 1 HTTPS://WWW.COVENANTHEALTHCARE.COM/CH/COMMUNITY-HEALTH-ASSESSMENT 0 1 X 200.000000000000 300.000000000000 X X X 1 1 X X X 1 X HTTP://WWW.COVENANTHEALTHCARE.COM/MAIN/FINANCIALASSISTANCEPOLICY.ASPX X HTTP://WWW.COVENANTHEALTHCARE.COM/MAIN/FINANCIALASSISTANCEPOLICY.ASPX X HTTP://WWW.COVENANTHEALTHCARE.COM/MAIN/FINANCIALASSISTANCEPOLICY.ASPX X X X X X X 1 X 0 X X X X 1 X 0 0 COVENANT MEDICAL CENTER INC (MARY FREE B 3 0 0 1 X X X X X X X X X 23 1 1 1 1 X HTTPS://WWW.COVENANTHEALTHCARE.COM/CH/COMMUNITY-HEALTH-ASSESSMENT X 1 23 1 HTTPS://WWW.COVENANTHEALTHCARE.COM/CH/COMMUNITY-HEALTH-ASSESSMENT 0 1 X 200.000000000000 300.000000000000 X X X 1 1 X X X 1 X HTTP://WWW.COVENANTHEALTHCARE.COM/MAIN/FINANCIALASSISTANCEPOLICY.ASPX X HTTP://WWW.COVENANTHEALTHCARE.COM/MAIN/FINANCIALASSISTANCEPOLICY.ASPX X HTTP://WWW.COVENANTHEALTHCARE.COM/MAIN/FINANCIALASSISTANCEPOLICY.ASPX X X X X X X 1 X 0 X X X X 1 X 0 0 COVENANT MEDICAL CENTER INC (COOPER) PART V, SECTION B, LINE 5: THE CHNA DATA WAS GATHERED USING THE MOBILIZING FOR ACTION THROUGH PLANNING AND PARTNERSHIPS (MAPP) PROCESS. THE MAPP PROCESS USES FOUR ASSESSMENTS TO GATHER DATA AND INFORMATION ABOUT THE COMMUNITY: 1) COMMUNITY HEALTH STATUS, 2) COMMUNITY THEMES AND STRENGTHS, 3) LOCAL PUBLIC HEALTH SYSTEM, AND 4) FORCES OF CHANGE. EACH ASSESSMENT CAPTURED A UNIQUE DATA SET THAT WAS USED TO INFORM THE FINAL STRATEGIC ISSUES PROCESS. THE BWELL SAGINAW PARTNER COALITION ACQUIRED BROAD COMMUNITY INPUT FROM INDIVIDUALS WHO LIVE, WORK, AND/OR ATTEND SCHOOL IN SAGINAW COUNTY, HEALTH CARE CONSUMERS, COMMUNITY LEADERS, HEALTH CARE PROFESSIONALS, AND MULTI-SECTOR REPRESENTATIVES THROUGHOUT THIS PROCESS.- A TOTAL OF 1,577 SURVEYS WERE COMPLETED DEPICTING A REPRESENTATIVE SAMPLE SIZE OF SAGINAW COUNTY'S DEMOGRAPHICS (RACE, ETHNICITY, AND POPULATION DENSITY MAKE UP).- NEW TO THIS CYCLE WAS THE IMPLEMENTATION OF "COMMUNITY CONVERSATIONS" THAT SOUGHT TO COLLECT RESIDENT FEEDBACK ON IMPORTANT HEALTH ISSUES BY FACILITATING CONVERSATIONS WITH SAGINAW'S VULNERABLE POPULATIONS THAT LIKELY WOULD NOT HAVE EASY ACCESS TO THE SURVEY TOOL OR MECHANISMS TO COMPLETE SUCH. THE COMMUNITY CONVERSATIONS WERE PERFORMED AT A HALF A DOZEN LOCATIONS ACROSS SAGINAW, INCLUDING HOMELESS SHELTERS AND FEEDING DISTRIBUTION AND ACCESS SITES.- MORE THAN 300 MEASURES WERE ANALYZED FROM A COMPILATION OF DATA FROM FOUR SEPARATE ASSESSMENTS COVENANT MEDICAL CENTER INC (COOPER) PART V, SECTION B, LINE 6A: THE HOSPITAL CONTRIBUTES AND PARTICIPATES IN THE BWELL SAGINAW PARTNER COALITION COMMUNITY HEALTH ASSESSMENT/ COMMUNITY HEALTH IMPROVEMENT (CHA/CHIP) PARTICIPATING WITH ASCENSION ST. MARY'S HOSPITAL. COVENANT MEDICAL CENTER INC (COOPER) PART V, SECTION B, LINE 6B: THE HOSPITAL CONTRIBUTES AND PARTICIPATES IN THE BWELL SAGINAW PARTNER COALITION COMMUNITY HEALTH ASSESSMENT/ COMMUNITY HEALTH IMPROVEMENT (CHA/CHIP) PARTICIPATING WITH GREAT LAKES BAY HEALTH CENTERS, SAGINAW COUNTY COMMUNITY MENTAL HEALTH, SAGINAW COUNTY HEALTH DEPARTMENT, SAGINAW ISD, UNITED WAY OF SAGINAW COUNTY, CMU MEDICAL EDUCATION PARTNERS, HEALTHSOURCE SAGINAW, MICHIGAN DEPARTMENT OF HEALTH & HUMAN SERVICES - SAGINAW, MIHIA, SAGINAW COMMUNITY FOUNDATION AND SAGINAW VALLEY STATE UNIVERSITY. COVENANT MEDICAL CENTER INC (COOPER) PART V, SECTION B, LINE 11: THE COMMUNITY HEALTH IMPROVEMENT PLAN PROCESS IDENTIFIED THREE AREAS OF NEEDED HEALTH IMPROVEMENT FOR SAGINAW AND SURROUNDING AREAS. THEY ARE AS FOLLOWS: MENTAL HEALTH & SUBSTANCE ABUSE, OBESITY & RELATED CHRONIC DISEASE, AND MATERNAL & CHILD HEALTH.COVENANT'S IMPLEMENTATION PLAN ADDRESSES ALL THREE PRIORITY AREAS BASED ON THE AVAILABILITY OF COMMUNITY RESOURCES, THE PARTNERSHIPS IN PLACE AND THE RESOURCES COVENANT CAN DIRECT TO EACH OF THESE AREAS. THE IMPLEMENTATION PLAN IDENTIFIES COVENANT'S EXISTING AND PLANNED ACTIONS IN EACH CATEGORY. IN ADDITION, COVENANT HAS ELECTED TO INCLUDE A SECTION FOR PALLIATIVE CARE AND FOR OTHER INITIATIVES THAT IMPACT COMMUNITY HEALTH NOT INCLUDED AS ONE OF THE KEY AREAS IDENTIFIED BY THE CHA. THE ACA REQUIRES HOSPITALS TO IDENTIFY WHICH NEEDS, IF ANY, THEY ARE NOT ADDRESSING IN THEIR CURRENT IMPLEMENTATION PLAN AND WHY. COVENANT IS INVOLVED IN ADDRESSING ALL THREE ACTION AREAS TO VARYING DEGREES HOWEVER IT RECOGNIZES THAT IT IS NOT, AND SHOULD NOT, BE THE LEADER IN ALL AREAS BUT THAT WORKING WITH APPROPRIATE PARTNERS IT CAN OPTIMIZE THE USE OF RESOURCES BY AVOIDING DUPLICATION AND FINDING THE MOST EFFECTIVE STRATEGIES AVAILABLE. IN THE FIRST ACTION AREA, COVENANT HEALTHCARE PLAYS MORE OF A SUPPORTIVE ROLE TO OTHER COMMUNITY PARTNERS WHO ARE FOCUSED ON MENTAL HEALTH. EACH OF THE THREE ACTION GROUP AREAS HAS GOALS, OBJECTIVES, AND ACTIONS. IN MANY CASES COVENANT IS WORKING COLLABORATIVELY WITH OTHER COMMUNITY ORGANIZATIONS; IN OTHER CASES, COVENANT IS NOT A DIRECT PARTICIPANT. 31 1 - MACKINAW CAMPUS 5400 MACKINAW RD SAGINAW MI 48602 HEALTHCARE OFFICE 2 - COOPER 900 - ECC & CENTER FOR THE HEART 900 COOPER AVE SAGINAW MI 48602 ER-24 HRS 3 - MICHIGAN CAMPUS 515 N MICHIGAN SAGINAW MI 48602 SLEEP LAB, HOME HEALTH 4 - HOUGHTON CAMPUS 1000 HOUGHTON AVE SAGINAW MI 48602 LABORATORY 5 - COVENANT POB 800 COOPER AVE SAGINAW MI 48602 PHYSICIAN OFFICE 6 - MED EXPRESS BAY CITYBAY PRIMARY CARE 2997 WILDER RD BAY CITY MI 48706 URGENT CARE/PHYSICIAN OFFICE 7 - SBIM SAG TWP FAMILY PRACTICE & COVENAN 3875 BAY ROAD 25 SAGINAW MI 48602 PHYSICIAN OFFICE 8 - IRVING CAMPUS 600 IRVING AVE SAGINAW MI 48602 PM&R, OCC HEALTH, EMPLOYEE WELLNESS 9 - COVT BREAST IMAGINGMED EXPRESS PRIMARY 600 N MAIN ST FRANKENMUTH MI 48734 URGENT CARE, IMAGING, PMR, PHYSICIAN OFFICE 10 - GRATIOT FAMILY PRACTICE 1910 PINE AVE ALMA MI 48801 PHYSICIAN OFFICE 11 - MED EXPRESSBREAST IMAGING 5570 STATE STREET SAGINAW MI 48602 URGENT CARE 12 - ORTHOPAEDICS - GRATIOT 5483 GRATIOT SAGINAW MI 48638 PHYSICIAN OFFICE 13 - HEMLOCK FAMILY MEDICINEMED EXPRESS PM&R 16440 GRATIOT RD HEMLOCK MI 48626 URGENT CARE/PHYSICIAN OFFICE 14 - PHOENIX FAMILY PRACTICE 2429 TRAUTNER DR SAGINAW MI 48604 PHYSICIAN OFFICE 15 - SAGINAW VALLEY PRIMARY CAREMED EXPRESS 2970 PIERCE RD SAGINAW MI 48604 PHY OFFICE/PRIMARY CARE/URGENT CARE 16 - DR PRICELAB 8767 GRATIOT RD SAGINAW MI 48609 PHYSICIAN OFFICE/LAB 17 - COVENANT CARDIOLOGY 4884 BERL DR SAGINAW MI 48604 PHYSICIAN OFFICE 18 - SILVERWOOD FAMILY MEDICINE 3037 SILVERWOOD DR SAGINAW MI 48602 PHYSICIAN OFFICE 19 - BIRCH RUN PRIMARY CARE 8470 MAIN ST BIRCH RUN MI 48415 PHYSICIAN OFFICE 20 - COVENANT NEUROLOGY 4701 TOWNE CENTRE RD STE 301 SAGINAW MI 48604 PHYSICIAN OFFICE 21 - DR CASTILLO & LAB 6614 DIXIE HWY BRIDGEPORT TOWNSHIP MI 48722 PHYSICIAN OFFICE 22 - FREELAND PRIMARY CARE & LAB 7362 MIDLAND RD FREELAND MI 48623 PHYSICIAN OFFICE/LAB 23 - COLONY 125 N COLONY SAGINAW MI 48638 PRIMARY CARE 24 - VNA DME 6190 HOSPITAL ROAD CASS CITY MI 48726 VNA DME 25 - SAGINAW FAMILY PHYSICIANS 835 MIDLAND RD SAGINAW MI 48638 PRIMARY CARE 26 - REESE FAMILY MEDICINE 12675 E WASHINGTON RD REESE MI 48757 PRIMARY CARE 27 - DR NATOLE 4107 TOWNE CTR STE 301 SAGINAW MI 48604 PHYSICIAN OFFICE 28 - DR JOHNSON 1430 N CENTER RD SAGINAW MI 48602 PHYSICIAN OFFICE 29 - COVENANT OCC HEALTH 1549 WASHINGTON ST MIDLAND MI 48640 OCC HEALTH 30 - DR AMANDA SCHAEFER-JOHNSON 3085 HALLMARK ROAD SAGINAW MI 48603 NEURO 31 - CARDIO 2750 MAIN STREET MARLETTE MI 48453 CARDIO PART I, LINE 7: THE BEST AVAILABLE INFORMATION WAS USED TO CALCULATE THE COST IN LINE 7. COST IS BASED ON THE COST TO CHARGE RATIO. MEDICAID COST ON ROW B, CALCULATED USING RATIO OF COST TO CHARGE FROM WORKSHEET 3. PART I, LN 7 COL(F): BAD DEBT EXPENSE WAS SUBTRACTED FROM THE TOTAL EXPENSE TO OBTAIN THE PERCENTAGE OF THE COMMUNITY BENEFIT TO TOTAL EXPENSES AMOUNTED TO $17,025,367.THE PROVISION FOR BAD DEBTS IS BASED ON MANAGEMENT'S ASSESSMENT OF HISTORICAL AND EXPECTED NET COLLECTIONS CONSIDERING BUSINESS AND ECONOMIC CONDITIONS, TRENDS IN HEALTH CARE COVERAGE, AND OTHER COLLECTION INDICATORS. PERIODICALLY THROUGHOUT THE YEAR, MANAGEMENT ASSESSES THE ADEQUACY OF THE ALLOWANCE FOR DOUBTFUL ACCOUNTS BASED UPON HISTORICAL WRITE-OFF EXPERIENCE AND CURRENT MARKET CONDITIONS. THE RESULTS OF THESE REVIEWS ARE USED TO MAKE ANY MODIFICATIONS TO THE METHODOLOGY FOR ESTIMATING THE PROVISION FOR BAD DEBTS AND ESTABLISHING THE ALLOWANCE FOR UNCOLLECTIBLE RECEIVABLES. AFTER SATISFACTION OF AMOUNTS DUE FROM INSURANCE, COVENANT HEALTHCARE FOLLOWS ESTABLISHED GUIDELINES FOR PLACING CERTAIN PAST-DUE PATIENT BALANCES WITH COLLECTION AGENCIES. PART III, LINE 2: METHODOLOGY USED IN DETERMINING BAD DEBT: THIS FIGURE IS A RESULT OF THE SHIFT FROM BAD DEBT TO FINANCIAL ASSISTANCE DUE TO PRESUMPTIVE CHARITY & THE IMPLEMENTATION OF SELF-PAY DISCOUNTING. ANOTHER CONTRIBUTING FACTOR IS THE EXPANSION OF MEDICAID, THEREFORE DECREASING THE NUMBER OF SELF-PAY ACCOUNTS. PART III, LINE 4: THE PROVISION FOR BAD DEBTS IS BASED ON MANAGEMENT'S ASSESSMENT OF HISTORICAL AND EXPECTED NET COLLECTIONS CONSIDERING BUSINESS AND ECONOMIC CONDITIONS, TRENDS IN HEALTH CARE COVERAGE, AND OTHER COLLECTION INDICATORS. PERIODICALLY THROUGHOUT THE YEAR, MANAGEMENT ASSESSES THE ADEQUACY OF THE ALLOWANCE FOR DOUBTFUL ACCOUNTS BASED UPON HISTORICAL WRITE-OFF EXPERIENCE AND CURRENT MARKET CONDITIONS. THE RESULTS OF THESE REVIEWS ARE USED TO MAKE ANY MODIFICATIONS TO THE METHODOLOGY FOR ESTIMATING THE PROVISION FOR BAD DEBTS AND ESTABLISHING THE ALLOWANCE FOR UNCOLLECTIBLE RECEIVABLES. AFTER SATISFACTION OF AMOUNTS DUE FROM INSURANCE, COVENANT HEALTHCARE FOLLOWS ESTABLISHED GUIDELINES FOR PLACING CERTAIN PAST-DUE PATIENT BALANCES WITH COLLECTION AGENCIES. (FOOTNOTE 2, PAGE 10). PART III, LINE 8: THE HOSPITAL REPORTED MEDICARE ALLOWABLE COST, AS REPORTED ON THE MEDICARE COST REPORT, ON WORKSHEET H, PART III, SECTION B, LINE 6. THE METHODOLOGY REMOVES NON-ALLOWABLE COST PER MEDICARE RULES AND OFFSETS OTHER OPERATING REVENUE AGAINST COST. PROFESSIONAL PART B COST IS ALSO REMOVED. THE COST OF SUPPORT DEPARTMENTS IS ALLOCATED TO REVENUE PRODUCING DEPARTMENTS USING THE STEP-DOWN METHODOLOGY. PART III, LINE 9B: IF AN INDIVIDUAL QUALIFIES FOR FINANCIAL ASSISTANCE THEY WILL NOT BE SENT TO THE COLLECTION AGENCY, PROVIDED THEY IN GOOD FAITH SET UP A WAY TO RESOLVE THEIR BILLS. ONCE SOMEONE IS SENT TO THE COLLECTION AGENCY THEY ARE ALL TREATED THE SAME. TO QUOTE OUR POLICY - 'COVENANT MANAGEMENT HAS POLICIES AND PROCEDURES FOR COLLECTION PRACTICES, THESE INCLUDE ACTIONS THE HOSPITAL MAY TAKE IF THE PATIENT DOES NOT PAY. THESE COLLECTION ACTIONS INCLUDE POTENTIAL REPORTING TO CREDIT AGENCIES. THESE POLICIES TAKE INTO ACCOUNT THE EXTENT TO WHICH THE PATIENT QUALIFIES FOR FINANCIAL ASSISTANCE, THEIR GOOD FAITH EFFORT TO APPLY FOR A GOVERNMENTAL PROGRAM OR FINANCIAL ASSISTANCE FROM COVENANT, AND THEIR EFFORTS TO COMPLY WITH HIS OR HER PAYMENT AGREEMENTS WITH COVENANT. FOR PATIENTS WHO QUALIFY FOR FINANCIAL ASSISTANCE AND WHO ARE COOPERATING IN GOOD FAITH TO RESOLVE THEIR DISCOUNTED HOSPITAL BILLS, COVENANT MAY OFFER EXTENDED PAYMENT PLANS, WILL NOT SEND UNPAID BILL TO OUTSIDE COLLECTION AGENCIES, AND WILL CEASE ALL COLLECTION EFFORTS'. PART VI, LINE 2: COVENANT HEALTHCARE WITH THE SAGINAW COUNTY HEALTH DEPARTMENT, SAGINAW SCHOOLS AND OTHER KEY PLAYERS TO DEVELOP A COMMUNITY HEALTH IMPROVEMENT PLAN. DATA FROM NUMEROUS SOURCES ARE UTILIZED TO PROVIDE THE STATISTICAL FOUNDATION FOR THE PLAN. THE METHOD USED TO DEVELOP THE PLAN FOLLOWS THE NATIONAL MODEL KNOWN AS MAPP - MOBILIZING FOR ACTION THROUGH PLANNING AND PARTNERSHIPS. THIS MODEL WAS DEVELOPED BY THE CENTERS FOR DISEASE CONTROL AND PREVENTION (CDC) AND THE NATIONAL ASSOCIATION OF COUNTY AND CITY HEALTH OFFICIALS (NACCHO). THE FOUR MAPP ASSESSMENTS INCLUDED COMMUNITY THEMES AND STRENGTHS, LOCAL PUBLIC HEALTH SYSTEM, COMMUNITY HEALTH ASSESSMENT, AND FORCES OF CHANGE. PART VI, LINE 3: COVENANT HEALTHCARE COMMUNICATES OUR CHARITY CARE AND FINANCIAL ASSISTANCE POLICY VIA THE COVENANT WEBSITE, A LETTER TO THE GUARANTOR IF BENEFIT ELIGIBILITY IS NOT ESTABLISHED, OR IN PERSON IF GUARANTOR INDICATES FINANCIAL NEED. LITERATURE ON THIS POLICY IS ALSO AVAILABLE AT REGISTRATION AREAS. PART VI, LINE 4: COVENANT HEALTHCARE IS LOCATED IN SAGINAW COUNTY AND CLOSE TO 70% OF INPATIENT DISCHARGES ARE FROM PATIENTS WITHIN THE COUNTY. HOWEVER, COVENANT DOES REACH OUT INTO THE SURROUNDING COUNTIES AND HAS RELATIONSHIPS WITH SEVERAL CRITICAL ACCESS HOSPITALS IN THE REGION. COVENANT CONSIDERS SIX COUNTIES (SAGINAW, BAY, MIDLAND, TUSCOLA, HURON, AND SANILAC) AS ITS PRIMARY MARKET. ANOTHER 14 COUNTIES IN THE REGION ARE CONSIDERED THE SECONDARY SERVICE AREA. COVENANT HEALTHCARE IS LOCATED IN CBSA 40980 SAGINAW-SAGINAW TOWNSHIP NORTH WITHIN SAGINAW COUNTY, MICHIGAN. AS OF THE 2020 CENSUS, SAGINAW COUNTY'S POPULATION WAS 191,166. THERE WERE 85,893 HOUSEHOLDS OUT OF WHICH 27.80% HAD CHILDREN UNDER THE AGE OF 18 LIVING WITH THEM, 43.51% WERE MARRIED COUPLES LIVING TOGETHER, 14.14% HAD A FEMALE HOUSEHOLDER WITH NO SPOUSE PRESENT, AND 37.61% WERE NON-FAMILIES. IN THE COUNTY THE POPULATION WAS SPREAD OUT WITH 21.47% UNDER THE AGE OF 18, 9.48% FROM 18 TO 24, 23.25% FROM 25 TO 44, 26.63% FROM 45 TO 64, AND 19.16% WHO WERE 65 YEARS OF AGE OR OLDER. THE MEDIAN AGE WAS 41 YEARS. THE MEDIAN INCOME FOR A HOUSEHOLD IN THE COUNTY WAS $49,565, AND THE MEDIAN INCOME FOR A FAMILY WAS $64,094. THE PER CAPITA INCOME FOR THE COUNTY WAS $28,628. ABOUT 12.1% OF FAMILIES AND 17.6% OF THE POPULATION WERE BELOW THE POVERTY LINE, INCLUDING 25.4% OF THOSE UNDER AGE 18 AND 8.2% OF THOSE AGE 65 OR OVER. THE JOBLESS RATE IN CALENDAR YEAR 2009 WAS 11.1% IN THE CITY OF SAGINAW, 6.5% IN SAGINAW COUNTY COMPARED TO 6.0% FOR THE STATE OF MICHIGAN AS A WHOLE. PART VI, LINE 5: COVENANT HEALTHCARE IS ACTIVELY INVOLVED IN COMMUNITY BUILDING INITIATIVES. LEADERSHIP FROM THROUGHOUT THE ORGANIZATION HOLD VOLUNTARY BOARD AND COMMITTEE POSITIONS IN COMMUNITY GROUPS AND ORGANIZATIONS FOCUSED ON IMPROVING THE QUALITY OF LIFE IN THE REGION, PARTICULARLY AROUND ISSUES OF COMMUNITY HEALTH. ADDITIONALLY, THE ORGANIZATION CONDUCTS COMMUNITY OUTREACH AND SCREENING ACTIVITIES IN THE VARIOUS COMMUNITIES IN OUR REGION TO IMPACT HEALTH IN SUCH WAYS AS EARLY DISEASE DETECTION TO TRAUMA PREVENTION. UNDER THE DIRECTION OF A VOLUNTEER COMMUNITY BOARD, COVENANT HEALTHCARE IS AN INTEGRAL PART OF THE COMMUNITIES IT SERVES. THE COVENANT VISION IS TO CONSISTENTLY DELIVER ON A PROMISE OF CARING AND A COMMITMENT TO SERVICE. GUIDED BY A SEPARATE VOLUNTEER BOARD, THE COVENANT HEALTHCARE FOUNDATION ASSISTS THE MEDICAL CENTER IN CARRYING OUT ITS SERVICE MISSION THROUGH THE ACQUISITION OF PHILANTHROPIC FUNDS TO SERVE AS A PRIME RESOURCE IN THE DELIVERY OF CARE TO THOSE COVENANT HEALTHCARE SERVES. THE ORGANIZATION USES ITS SURPLUS FUNDS TO CONDUCT COMMUNITY OUTREACH AND SCREENING ACTIVITIES IN THE VARIOUS COMMUNITIES IN OUR REGION TO IMPACT HEALTH IN SUCH WAYS AS EARLY DISEASE DETECTION TO TRAUMA PREVENTION. PART VI, LINE 6: COVENANT MEDICAL CENTER IS A PART OF THE COVENANT HEALTH SYSTEM (DOING BUSINESS AS COVENANT HEALTHCARE). COVENANT HEALTHCARE IS A NON-PROFIT HEALTH SYSTEM THAT OFFERS A BROAD SPECTRUM OF PROGRAMS AND SERVICES RANGING FROM HIGH RISK OBSTETRICS, NEONATAL AND PEDIATRIC INTENSIVE CARE, TO ACUTE CARE INCLUDING A LEVEL II ADULT AND PEDIATRIC TRAUMA CENTER, CARDIOLOGY, ONCOLOGY, ORTHOPEDICS, ROBOTIC SURGERY AND MANY OTHER SERVICES ON THE LEADING EDGE OF MEDICINE. ALL PROGRAMS AND SERVICES EXEMPLIFY THE COVENANT COMMITMENT TO PROVIDING EXTRAORDINARY CARE FOR EVERY GENERATION.AS A MEDICAL FACILITY WITH 643 ACUTE CARE LICENSED BEDS, AND A COMPLETE RANGE OF MEDICAL SERVICES, COVENANT HEALTHCARE STANDS READY TO MEET THE HEALTH CARE NEEDS OF EAST CENTRAL MICHIGAN. WITH MORE THAN 20 INPATIENT AND OUTPATIENT FACILITIES AND A TRAUMA/EMERGENCY DEPARTMENT THAT PROVIDES OVER 90,000 VISITS PER YEAR, COVENANT HEALTHCARE OFFERS CONVENIENCE AND EASY ACCESS TO HIGH QUALITY CARE THROUGHOUT THE REGION. PART VI, LINE 7, REPORTS FILED WITH STATES MI X 1 1 X X X X X 1 1 0 0 0 0 0 1 0 BAKRI KAAKEH PHYSICIAN 1772837 0 281701 0 0 0 0 0 23340 0 2077878 0 0 0 MARK ZAKI PHYSICIAN 1056670 0 553272 0 0 0 0 0 8977 0 1618919 0 0 0 JAMES FUGAZZI PHYSICIAN 1044304 0 520790 0 0 0 0 0 23340 0 1588434 0 0 0 GEORGE MALLIARAS PHYSICIAN 1452566 0 98898 0 0 0 0 0 23340 0 1574804 0 0 0 BETHANY CHARLTON PRESIDENT 819284 0 31000 0 0 0 536219 0 60297 0 1446800 0 0 0 FRANK SCHINCO PHYSICIAN 1011170 0 367924 0 0 0 0 0 22710 0 1401804 0 0 0 KEVIN ALBOSTA VICE PRESIDENT 543693 0 25830 0 0 0 205568 0 32629 0 807720 0 0 0 KEVIN BIRCHMEIER VICE PRESIDENT 451040 0 21367 0 0 0 145796 0 56134 0 674337 0 0 0 DR MICHAEL SULLIVAN VICE PRESIDENT 413834 0 0 0 88516 0 0 0 26279 0 528629 0 0 0 DR IRIS MARTEJA VICE PRESIDENT 404376 0 0 0 97848 0 0 0 18804 0 521028 0 0 0 MICHAEL FIORE MD BOARD MEMBER/PHYSICIAN 404285 0 6769 0 30466 0 0 0 26491 0 468011 0 0 0 DAVID NALL VICE PRESIDENT 269613 0 10638 0 0 0 83327 0 29606 0 393184 0 0 0 FRANK FEAR VICE PRESIDENT 297969 0 15056 0 0 0 0 0 30336 0 343361 0 0 0 PATRICE LANCZAK VICE PRESIDENT 287062 0 15000 0 0 0 0 0 9735 0 311797 0 0 0 ADAM TOMPA VICE PRESIDENT 252035 0 12500 0 0 0 0 0 24811 0 289346 0 0 0 JACKIE TINNIN VICE PRESIDENT 221972 0 8735 0 0 0 0 0 26123 0 256830 0 0 0 PART I, LINE 1A OFFICERS OF COVENANT MEDICAL CENTER GET HEALTH AND SOCIAL CLUB DUES PAID AND ARE INCLUDED AS TAXABLE INCOME. PART I, LINES 4A-B PART I LINE 4A: DR. IRIS MARTEJA HAD $97,848 & DR. MICHAEL SULLIVAN HAD $88,516 PAID OUT AS SEPARATION PAY FROM OCTOBER-DECEMBER OF 2023 BASED ON THE RESPECTIVE AGREEMENTS SIGNED OCTOBER 2023. THESE FIGURES WERE INCLUDED IN THEIR TOTAL COMPENSATION. PART I LINE 4B: THE ORGANIZATION MAINTAINS A NONQUALIFIED SUPPLEMENTAL EXECUTIVE PLAN (SERP) FOR CERTAIN OF ITS EXECUTIVES. THE SERP HAS BEEN ESTABLISHED FOR THESE EXECUTIVES BY THE ORGANIZATION, FOLLOWING APPROPRIATE BOARD LEVEL REVIEW IN A MANNER INTENDED TO COMPLY WITH THE REBUTTABLE PRESUMPTION OF REASONABLENESS PROVISION UNDER IRC SECTION 4958. SOME OF THE INDIVIDUALS LISTED IN PART VII RECEIVED A TAXABLE SERP PAYMENT IN FY24. ALL PAYMENTS WERE INCLUDED AS TAXABLE INCOME. PART I, LINE 7 THE BONUSES PAID TO ANY OFFICER LISTED IN SCHEDULE J PART II CAN BE DETERMINED BASED ON WHETHER FOUR ORGANIZATION SUCCESS SHARING TARGETS ARE MET; PATIENT SATISFACTION SCORES, QUALITY METRICS, EMPLOYEE ENGAGEMENT SCORES AND FINANCIAL PERFORMACE BASED ON A CUSTOM OPERATING MARGIN. A CITY OF SAGINAW HOSP FIN AUTH 386004647 2014-04-25 31505000 RETIRE 4/7/2004 BONDS AND NEW CONS 0 0 0 B CITY OF SAGINAW HOSP FIN AUTH 386004647 786744JFO 2020-04-02 69219495 RETIRE 10/28/10 BOND & 2019 TERM LOAN 0 0 0 A 31505000 31506478 203513 10476465 20826500 2014 1 0 1 1 B 4295000 69219495 648787 68570708 2020 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 1 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 A 1 B 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: CITY OF SAGINAW HOSP FIN AUTH DATE THE REBATE COMPUTATION WAS PERFORMED: 04/24/2019 PART II LINE 3 - COLUMN A BOND 2014 $31,506,478 - INCLUDES SALE PROCEEDS OF $31,505,000 PLUS THE DEBT SERVICE RESERVE FUND EARNINGS OF $1,478. PART II, LINE 3 - COLUMN A BOND 2010 H $76,458,097 - INCLUDES SALE PROCEEDS OF $76,448,883 PLUS ESCROW ACCOUNT EARNINGS $9,214. SPENCE BROTHERS ENTITY OWNED MORE THAN 35% BY BOARD MEMBER 2044676 CONSTRUCTION SERVICES 0 FORM 990, SCHEDULE L, PART IV, COLUMN C FEES FOR ALL SERVICES ARE AT ARM'S LENGTH MARKET RATES AND ARE CONTRACTED IN ACCORDANCE WITH THE HOSPITAL'S CONFLICT OF INTEREST POLICY. X EQUIP (SUPPORT ORG) 1 353322 FMV 0 1 0 FORM 990, PART VI, SECTION A, LINE 6 COVENANT HEALTHCARE SYSTEM IS THE SOLE CORPORATE MEMER OF COVENANT MEDICAL CENTER INC. FORM 990, PART VI, SECTION A, LINE 7A THE SOLE CORPORATE MEMBER MAY ELECT ONE OR MORE PERSONS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B THE FOLLOWING ACTIONS MAY BE TAKEN BY THIS CORPORATION AND ITS BOARD OF DIRECTORS ONLY UPON PRIOR WRITTEN APPROVAL OF THE CORPORATE MEMBER: A. ADOPTION, AMENDMENT OR OTHER MODIFICATION OF THE BYLAWS OR ARTICLES OF INCORPORATION OF THIS CORPORATION. B. ANY MERGER, CONSOLIDATION, REORGANIZATION, OR OTHER CHANGE IN THE CORPORATE STRUCTURE OF THIS CORPORATION OR THE CREATION OF ANY CORPORATE SUBSIDIARY THEREOF. C. THE PARTICIPATION OF THE CORPORATION IN ANY PARTNERSHIP, LIMITED PARTNERSHIP, CORPORATION, ASSOCIATION OR OTHER FORM OF JOINT VENTURE OR SHARED SERVICE WITH ANY OTHER PARTY OR ORGANIZATION. D. CREATION, INCURRENCE OR ASSUMPTION OF INDEBTEDNESS, COMMITMENTS, OR ANY CONTRACTUAL OBLIGATIONS WITH RESPECT TO BORROWED MONEY, GUARANTEES, ENDORSEMENTS, LEASES OR OTHER TYPE OF DIRECT CONTINGENT LIABILITIES, IN EXCESS OF $50,000 FOR ANY ONE ITEM. E. CREATION, INCURRENCE OR ASSUMPTION OF ANY MORTGAGE, PLEDGE, SECURITY ENCUMBRANCE, OR OTHER LIEN OF ANY KIND IN ANY PROPERTY OF ASSETS OF THIS CORPORATION. F. ACQUISITION, BY PURCHASE, LEASE, OR ANY OTHER METHOD, OF ANY REAL ESTATE, CAPITAL IMPROVEMENTS, OR EQUIPMENT IN EXCESS OF A VALUE OF $50,000 FOR ANY ONE SUCH ITEM. G. ANY CONTRIBUTIONS OF ENDOWMENT PRINCIPAL. H. ANY CONTRIBUTIONS OR EARNED INCOME, EXCLUSIVE OF CONTRIBUTIONS, IN EXCESS OF FIVE (5%) PERCENT OF SUCH INCOME IN ANY FISCAL YEAR, TO ANY ORGANIZATION OR FOR ANY PURPOSE OTHER THAN COVENANT HEALTHCARE SYSTEM OR THE CORPORATE MEMBER. I. ANY CHANGE IN SERVICES OR PROGRAMS OF THE CORPORATION, INCLUDING THE TERMINATION OF EXISTING SERVICES, THE ADDITION OF NEW SERVICES, OR ANY MAJOR EXPANSION OR CONTRACTION OF EXISTING SERVICES OR PROGRAMS. J. ADOPTION, OR FORMAL AMENDMENT OR MODIFICATION OF THE ANNUAL OPERATING AND CAPITAL BUDGETS OF THE CORPORATION. K. ADOPTION, AMENDMENT, OR MODIFICATION OF THE MISSION AND GOALS OF THE CORPORATION, AND ITS LONG RANGE OR SHORT RANGE STRATEGIC PLANS. FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT PRESENTS AND REVIEWS THE 990 WITH THE BOARD FOR ITS APPROVAL PRIOR TO FILING. THE BOARD IS PROVIDED FINAL COPIES FOR REVIEW VIA THE INTERNET. ONCE APPROVED BY THE BOARD, THE FINAL 990 IS ULTIMATELY FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH ITS CONFLICT OF INTEREST DISCLOSURE STATEMENT TO ITS OFFICERS, DIRECTORS, TRUSTEES, AND KEY EMPLOYEES. EACH PERSON COVERED BY THE POLICY IS REQUIRED TO SUBMIT AND AFFIRM IN WRITING TO THE CHAIRMAN OF THE BOARD AN ANNUAL CONFLICT OF INTEREST DISCLOSURE STATEMENT LISTING ALL FINANCIAL INTERESTS, FAMILY AND BUSINESS RELATIONSHIPS, AND POTENTIAL CONFLICTS OF INTEREST AND PROVIDE UPDATES TO THIS AS NECESSARY. IN ADDITION, SUCH PERSONS HAVE AN OBLIGATION TO DISCLOSE THE EXISTENCE OF ANY FINANCIAL INTEREST AND ALL MATERIAL FACTS TO THE BOARD AND MEMBERS OF THE COMMITTEES WITH BOARD DELEGATED POWERS. POTENTIAL CONFLICTS THAT ARE IDENTIFIED ARE BROUGHT TO THE ATTENTION OF THE CHAIRMAN AND VICE CHAIRMAN OF THE BOARD. THE CHAIRMAN OF THE BOARD IS REQUIRED TO BE AWARE OF SUCH POTENTIAL CONFLICTS SO AS TO BE ABLE TO DETERMINE THE PROPER COURSE OF ACTION SHOULD A MATTER INVOLVING SUCH SITUATION ARISE THAT WOULD REQUIRE ACTION. AFTER DISCLOSURE OF A POTENTIAL CONFLICT TO THE BOARD OR COMMITTEE, SUCH PERSON IS EXCUSED AND ALL OTHER REMAINING BOARD OR COMMITTEE MEMBERS MAKE A DETERMINATION OF WHETHER A CONFLICT EXISTS. ANY PERSON WITH A POTENTIAL CONFLICT CAN MAKE A PRESENTATION TO THE BOARD OR COMMITTEE ON THE PROPOSED TRANSACTION, BUT MUST RECUSE HIMSELF FROM DELIBERATION AND VOTING ON THE PROPOSED TRANSACTION OR ARRANGEMENT. THE BOARD OR COMMITTEE SHALL EXPLORE WHETHER A MORE ADVANTAGEOUS TRANSACTION OR AGREEMENT WITH REASONABLE EFFORTS CAN BE ENTERED INTO WITH A PERSON OR ENTITY THAT DOES NOT HAVE A CONLIFCT OF INTEREST. IF NO REASONABLE ALTERNATIVE EXISTS, THE BOARD OR COMMITTEE SHALL DECIDE WHETHER SUCH TRANSACTION IS IN THE BEST INTERESTS OF THE ORGANIZATION AND IS FAIR AND REASONABLE BEFORE MAKING ITS DECISION ON WHETHER OR NOT TO ENTER INTO THE TRANSACTION. IF THE BOARD HAS REASONABLE CAUSE TO BELIEVE THAT AN OFFICER, DIRECTOR, KEY EMPLOYEE, OR TRUSTEE FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTERESTS, IT SHALL INFORM THE OFFICER, DIRECTOR, TRUSTEE OR KEY EMPLOYEE OF THE BASIS FOR SUCH BELIEF AND AFFORD SAID PERSON AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. CORRECTIVE ACTION WILL BE TAKEN IF IT IS DETERMINED THAT A CONLFICT THAT WAS NOT DISCLOSED DOES EXIST. FORM 990, PART VI, SECTION B, LINE 15 EXECUTIVE SALARY RANGES ARE ESTABLISHED THROUGH IN DEPTH EXTERNAL MARKET STUDIES AND APPROVED BY THE COMPENSATION COMMITTEE. THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS AND APPROVES COMPENSATION CHANGES FOR VICE PRESIDENTS, AS RECOMMENDED BY THE CEO. THE COMPENSATION COMMITTEE RECOMMENDS ANNUALLY TO THE BOARD OF DIRECTORS A PERFORMANCE RATING AND COMPENSATION CHANGES FOR THE CEO. THE BOARD OF DIRECTORS ACTS ON ALL RECOMMENDATIONS FROM THE COMPENSATION COMMITTEE. THIS PROCESS IS CONDUCTED ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS ORGANIZING DOCUMENTS, CONFLICT OF INTEREST POLICIES AND FINANCIAL STATEMENTS AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST. PART VI, LINE 16B: THERE IS NO SEPARATE APPLICABLE WRITTEN POLICY, BUT COVENANT MANAGES ITS TAX-EXEMPT STATUS VERY CLOSELY. COVENANT MAINTAINS A STRICT COMPLIANCE TEAM THAT CAREFULLY MONITORS AND ASSESSES POTENTIAL JOINT VENTURE ARRANGEMENTS FOR ANY COMPLICATIONS OR ISSUES. ONCE APPROVED BY OUR COMPLIANCE TEAM THE PROPOSAL MUST THEN BE FORMALLY DISCUSSED AND APPROVED BY THE EXECUTIVE TEAM. ANY POTENTIAL ISSUES THAT MAY IMPACT THE TAX-EXEMPT STATUS ARE DISCUSSED AND IF THERE IS ANY MERIT TO THE CONCERN THEN COVENANT'S PARTICIPATION WOULD NOT BE APPROVED. FURTHERMORE, ANY SUCH PARTICIPATIONS WOULD THEN BE CHARGED TO THE BOARD OF DIRECTORS, WHO CHARGED WITH GOVERNANCE, WOULD ENSURE THAT COVENANT IS PROPERLY PROTECTED, AND ANY JOINT VENTURE WOULD NOT POSE ANY RISK TO COVENANT'S STATUS. FORM 990, PART XI, LINE 9: MINIMUM PENSION LIABILITY ADJUSTMENT -544,253. TRANSFER FROM AFFILATED ENTITY 454,519. 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