2025-11-17T09:18:29-06:00 2024-12-31 990 2024-01-01 364852171 BEAUMONT HEALTH FOUNDATION BEAU 8669897999 100 COREWELL DR NW ATTN TAX GRAND RAPIDS MI 49503 MATTHEW E COX CFO 8669897999 2025-11-17 1 2024 2025-03-06 01:10:19Z X COREWELL HEALTH FOUNDATION SOUTHEAST MICHIGAN RYAN DALY 100 COREWELL DR NW ATTN TAX GRAND RAPIDS MI 49503 182208800 0 5981 X https://corewellhealth.org/foundation/southeast X 2016 MI TO IMPROVE HEALTH, INSTILL HUMANITY AND INSPIRE HOPE. 16 12 0 290 181649 141328 36611978 12287005 0 0 1483714 15924200 -981977 -458230 37113715 27752975 19950018 31776558 0 0 5811404 0 0 182590 6000815 11654838 5997678 37416260 37956826 -302545 -10203851 219293654 221360294 15230527 4220170 204063127 217140124 TO IMPROVE HEALTH, INSTILL HUMANITY AND INSPIRE HOPE. 0 0 31776558 31776558 THE BEAUMONT HEALTH FOUNDATION DOING BUSINESS AS COREWELL HEALTH FOUNDATION SOUTHEAST MICHIGAN EXISTS EXCLUSIVELY FOR THE PURPOSE OF SECURING PHILANTHROPIC GIFTS AND GRANTS TO FURTHER THE CHARITABLE PURPOSES OF COREWELL HEALTH EAST, TO ADVANCE HIGH QUALITY HEALTH CARE FOR THE BENEFIT OF ALL MEMBERS OF THE COMMUNITIES IT SERVES AND TO SUPPORT COREWELL HEALTH EAST'S NONPROFIT MISSION TO PROVIDE COMPASSIONATE, EXTRAORDINARY CARE EVERY DAY. 31776558 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 1 0 0 0 0 0 1 1 1 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 0 0 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 16 12 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 MI X CORPORATE TAX 8669897999 100 COREWELL DR NW ATTN TAX GRAND RAPIDS MI 49503 DARRYL ELMOUCHI MD DIRECTOR PY 1.00 50.00 X 0 3007016 456952 DONALD CONN MD DIRECTOR 1.00 0.00 X 0 0 0 EDWARD RUSSELL III DIRECTOR 1.00 0.00 X 0 0 0 GEOFFREY HOCKMAN DIRECTOR 1.00 0.00 X 0 2000 0 HOWARD WOLPIN DIRECTOR 1.00 0.00 X 0 2000 0 KAREN COLINA WILSON SMITHBAUER DIRECTOR 1.00 0.00 X 0 0 0 LAURIE CUNNINGTON DIRECTOR/VICE CHAIR 1.00 0.00 X X 0 0 0 LISA PHILLIPS DIRECTOR 1.00 0.00 X 0 0 0 MARGARET COONEY - CASEY DIRECTOR PY/PRESIDENT PY 50.00 0.00 X X 0 649098 26625 MARY KOSCH DIRECTOR 1.00 0.00 X 0 0 0 MATTHEW DENENBERG MD DIRECTOR 1.00 50.00 X 0 562902 49871 NEELAM KUMAR MD DIRECTOR 1.00 0.00 X 0 2000 0 ROBERT ROSOWSKI DIRECTOR/TREASURER 1.00 0.00 X X 0 0 0 STUART BLANCK DIRECTOR 1.00 0.00 X 0 0 0 WARREN ROSE DIRECTOR/CHAIR 1.00 0.00 X X 0 20000 0 DEBORAH SCHROT DIRECTOR 50.00 0.00 X 0 171438 33630 LAMONT YODER DIRECTOR PY 1.00 50.00 X 0 798668 161733 RICHARD DALY DIRECTOR PY/PRESIDENT PY 50.00 0.00 X X 0 211808 9618 CHRISTINA FREESE DECKER CEO 1.00 50.00 X 0 5453830 1498970 MATTHEW E COX CFO 1.00 50.00 X 0 2523615 558135 MICHELLE ANDERSON SECRETARY 50.00 0.00 X 0 195461 30664 CHRISTOPHER FLORES FORMER OFFICER 0.00 50.00 X 0 489257 49251 THOMAS MCGANNON FORMER HCE 50.00 0.00 X 0 214421 26286 0 14303514 2901735 0 1 1 0 WHITLOCK BUSINESS SYSTEMS INC 275 E 12 MILE RD MADISON HEIGHTS MI 48071 MAILING & PRINTING SERVICES 277349 RUFFALO NOEL LEVITZ 5249 NORTH PARK PLACE NE 1061 CEDAR RAPIDS IA 52402 TELEPHONE SOLICITATION SERVICES 182590 2 2327534 1812036 8147435 1660467 12287005 2206491 181649 2024842 166837247 153119538 13717709 13717709 13717709 850457 1812036 1300915 -450458 -450458 27600 35372 -7772 -7772 27752975 0 181649 15284321 X 31599358 31599358 177200 177200 182590 182590 179453 179453 5787469 5787469 30756 30756 37956826 31776558 179453 6000815 1200 1200 12820247 6797429 22664320 17434495 66212 330940 280491 148702 150034 131789 15098484 196368067 168156696 336461 296374 219293654 221360294 456165 235459 14774362 3984711 15230527 4220170 X 43506000 45461849 160557127 171678275 204063127 217140124 219293654 221360294 X -10203851 6999166 16281682 X X 0 1 X 1 0 X 51520294 34007922 36839630 36611978 12287005 171266829 51520294 34007922 36839630 36611978 12287005 171266829 383302 170883527 -394 76 -185205 369241 2024842 2208560 185245 45534 158142 388921 244577 294102 412877 878057 1829613 175693923 0.97260 0.95270 X Schedule A, Part II, Line 10, Explanation of Other Income: SPECIAL EVENTS - 2021 Amount: $ 244,577. 2022 Amount: $ 294,102. 2023 Amount: $ 412,877. 2024 Amount: $ 878,057. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 96114204 852423 13166644 1164828 108968443 84921734 939973 12131816 1879319 96114204 110387085 3295831 -28564415 196767 84921734 93811553 1926649 15216817 567934 110387085 83224246 168565 10685510 266768 93811553 0.32141 0.67859 0.00000 0 0 35000 35000 109162 85757 23405 100139 62945 37194 36190 36190 131789 DUE TO AFFILIATES 3984711 3984711 Part V, Line 4: THE INTENDED USE OF THE FOUNDATION'S ENDOWMENT FUNDS IS TO PROVIDE FUNDS TO SUPPORT THE MISSION AND VISION OF COREWELL HEALTH EAST. THE FOUNDATION PROVIDES FUNDING FOR ONGOING CAPITAL AND OPERATIONAL NEEDS, COMMUNITY OUTREACH PROGRAMS, SCHOLARSHIPS AND EDUCATION. X X X X X X X 1 RUFFALO NOEL LEVITZ 1025 KIRKWOOD PARKWAY SW CEDAR RAPIDS IA 52404 DIRECT MAIL AND PHONE SOLICITATIONS 0 0 182590 0 182590 AR CA CO CT DC FL HI IL KS KY ME MD MA MN MS NV NH NJ NM NY NC ND OK OR PA RI SC TN UT WA WV WI CHILDREN'S MIRACLE CELEBRITY 1304665 915650 389015 4700 96087 112546 331774 HEART TO HEART EVENT 292680 217900 74780 15725 23606 79000 56789 4 1065148 678486 386662 2400 1800 164145 138316 4500 269527 2662493 1812036 850457 2400 6500 275957 274468 83500 658090 1300915 -450458 27600 35372 1 1.00000 27600 35372 35372 -7772 MI 1 0 0 0 1.00000 KAREN WHETTER 100 COREWELL DR NW GRAND RAPIDS MI 49503 0 THOMAS MCGANNON 0 THOMAS MCGANNON OVERSEES RAFFLE OPERATIONS TO ENSURE COMPLIANCE WITH STATE GAMING LAWS. HE RECEIVES NO ADDITIONAL COMPENSATION FOR THESE RESPONSIBILITIES. X 0 1 WILLIAM BEAUMONT HOSPITAL 100 COREWELL DRIVE NW GRAND RAPIDS MI 49503 381459362 501(C)(3) 22650395 0 TO SUPPORT EXEMPT PURPOSE OAKWOOD HEALTHCARE INC 100 COREWELL DRIVE NW GRAND RAPIDS MI 49503 381405141 501(C)(3) 4680618 0 TO SUPPORT EXEMPT PURPOSE THE MARK WAHLBERG YOUTH FOUNDATION INC PO BOX 610287 NEWTON MA 20461 043567369 501(C)(3) 372016 0 TO SUPPORT EXEMPT PURPOSE OAKWOOD HEALTH PROMOTIONS 100 COREWELL DRIVE NW GRAND RAPIDS MI 49503 382601965 501(C)(3) 90653 0 TO SUPPORT EXEMPT PURPOSE OAKLAND UNIVERSITY ODOWD HALL 428 586 PIONEER DR ROCHESTER MI 48309 381714400 501(C)(3) 35000 0 TO SUPPORT EXEMPT PURPOSE THE COMMUNITY HOUSE ASSOCIATION 380 S BATES BIRMINGHAM MI 48009 381256004 501(C)(3) 30000 0 TO SUPPORT EXEMPT PURPOSE BOTSFORD GENERAL HOSPITAL 100 COREWELL DRIVE NW GRAND RAPIDS MI 49503 381426919 501(C)(3) 25649 0 TO SUPPORT EXEMPT PURPOSE WOMEN OF TOMORROW MENTOR & SCHOLARSHIP PROGRAM 26913 NORTHWESTERN HWY STE 155 SOUTHFIELD MI 48033 800735541 501(C)(3) 10000 0 TO SUPPORT EXEMPT PURPOSE TEACH FOR AMERICA INC 1938 FRANKLIN STREET STE 11 DETROIT MI 48207 133541913 501(C)(3) 10000 0 TO SUPPORT EXEMPT PURPOSE RACING FOR KIDS TO THE HILL 130 KERCHEVAL STE 200 GROSSE POINTE FARMS MI 48236 814788535 501(C)(3) 10000 0 TO SUPPORT EXEMPT PURPOSE MERCY EDUCATION PROJECT 1450 HOWARD ST DETROIT MI 48216 383209556 501(C)(3) 10000 0 TO SUPPORT EXEMPT PURPOSE LIFE DIRECTIONS 5716 MICHIGAN AVE STE 2200 DETROIT MI 48210 363873676 501(C)(3) 10000 0 TO SUPPORT EXEMPT PURPOSE GREAT LAKES CHAMBER MUSIC FESTIVAL 24901 NORTHWESTERN HWY STE 312 SOUTHFIELD MI 48075 201106153 501(C)(3) 10000 0 TO SUPPORT EXEMPT PURPOSE NF FORWARD 1074 WOODWARD DETROIT MI 48226 821672519 501(C)(3) 6000 0 TO SUPPORT EXEMPT PURPOSE 14 0 NURSING SCHOLARSHIPS 128 177200 Part I, Line 2: DONATIONS, GRANTS AND PROCEEDS FROM FUNDRAISING ACTIVITIES ARE RECORDED IN THE DONOR DATABASE AND ARE PLACED IN A RESTRICTED FUND DESIGNATED FOR THE SPECIFIC PURPOSE IN WHICH THE GIFT WAS GIVEN. REPORTS ARE GENERATED MONTHLY FROM THE DATABASE AND ARE RECONCILED WITH THE GENERAL LEDGER TO ENSURE ACCURACY OF ACCOUNTING. SUPPORTING DOCUMENTS SUCH AS GIFT AGREEMENTS, GRANT PROPOSALS AND AWARD LETTERS, PLANNED GIFTS AND IN-KIND DONATIONS ARE RETAINED FOR FUTURE REVIEW AND ARE SUBJECT TO AUDIT. 1 1 0 0 0 0 0 0 0 CHRISTINA FREESE DECKER CEO 0 2489108 0 2726865 0 237857 0 1462145 0 36825 0 6952800 0 1439610 DARRYL ELMOUCHI MD DIRECTOR PY 0 1525444 0 1374225 0 107347 0 418200 0 38752 0 3463968 0 538007 MATTHEW E COX CFO 0 1237492 0 1186309 0 99814 0 520376 0 37759 0 3081750 0 468516 LAMONT YODER DIRECTOR PY 0 545373 0 200000 0 53295 0 139274 0 22459 0 960401 0 0 MARGARET COONEY - CASEY DIRECTOR PY/PRESIDENT PY 0 201159 0 65951 0 381988 0 16746 0 9879 0 675723 0 132155 MATTHEW DENENBERG MD DIRECTOR 0 540079 0 0 0 22823 0 14973 0 34898 0 612773 0 12235 CHRISTOPHER FLORES FORMER OFFICER 0 383237 0 102821 0 3199 0 16500 0 32751 0 538508 0 102821 THOMAS MCGANNON FORMER HCE 0 197776 0 14650 0 1995 0 15127 0 11159 0 240707 0 14650 MICHELLE ANDERSON SECRETARY 0 179627 0 13320 0 2514 0 19652 0 11012 0 226125 0 13320 RICHARD DALY DIRECTOR PY/PRESIDENT PY 0 145944 0 50000 0 15864 0 0 0 9618 0 221426 0 0 DEBORAH SCHROT DIRECTOR 0 153826 0 11234 0 6378 0 10986 0 22644 0 205068 0 0 Part I, Line 3 THE FILING ORGANIZATION RELIED UPON A RELATED ORGANIZATION WHO UTILIZED THE FOLLOWING PROCESS IN DETERMINATION OF THE TOP MANAGEMENT OFFICIAL'S COMPENSATION. THE COREWELL HEALTH BOARD OF DIRECTORS (THROUGH ITS COMPENSATION COMMITTEE) USES THE FOLLOWING PROCESS FOR DETERMINING COMPENSATION OF THE TOP MANAGEMENT OFFICIALS, OTHER OFFICERS, AND KEY EMPLOYEES AT COREWELL HEALTH. LABOR MARKET DATA REFLECTING COMPARABLE ORGANIZATIONS AND JOBS (PREPARED BY INDEPENDENT FIRMS) ARE RELIED UPON IN SETTING COMPENSATION LEVELS. COMPETITIVE ASSESSMENT REPORTS ARE PROVIDED TO THE COMPENSATION COMMITTEE IN ADVANCE OF MEETINGS. THE COMPETITIVE ASSESSMENT REPORT IS PREPARED BY A NATIONALLY KNOWN INDEPENDENT EXECUTIVE COMPENSATION FIRM. THE FOLLOWING SURVEYS, PREPARED BY INDEPENDENT FIRMS, WERE THE PRIMARY SOURCES REFERENCED TO OBTAIN COMPARABLE MARKET DATA FOR THE REVIEW: SULLIVANCOTTER, INC: 2024 HEALTH CARE MANAGEMENT AND EXECUTIVE COMPENSATION SURVEY SULLIVANCOTTER, INC: 2024 HEALTH PLAN MANAGEMENT AND EXECUTIVE COMPENSATION SURVEY SULLIVANCOTTER, INC: 2024 MEDICAL GROUP EXECUTIVE COMPENSATION SURVEY MERCER: 2024 IHN HEALTHCARE COMPENSATION SURVEY MERCER: 2024 IHP HEALTH PLAN COMPENSATION SURVEY GALLAGHER: 2023 NATIONAL HEALTHCARE LEADERSHIP COMPENSATION SURVEY IN ADDITION, ONE GENERAL INDUSTRY SURVEY WAS REFERENCED FOR SELECT POSITIONS: MERCER: 2023 US EXECUTIVE REMUNERATION SUITE IN ADDITION TO THE ABOVE DATA SOURCES, THE COMPENSATION COMMITTEE APPROVES A CUSTOM PEER GROUP OF HIGH PERFORMING INTEGRATED HEALTH SYSTEMS TO ENSURE ROBUST DATA AND A RELEVANT COMPARATOR MARKET EACH YEAR. THE PEER GROUP ORGANIZATIONS ARE APPROVED BY THE COMPENSATION COMMITTEE AND CONSISTS OF HEALTHCARE SYSTEMS SIMILAR IN REVENUE SIZE, TALENT MARKET COMPETITION, HIGH PERFORMANCE, FINANCIAL STABLE AS INDICATED BY BOND RATING, AND THAT FOLLOW A SIMILAR STRATEGY (MULTI-SITE SYSTEMS, HEALTH PLANS). COMPARATIVE DATA FOR THE APPROVED PEER GROUP IS COMPILED BY THE INDEPENDENT EXECUTIVE COMPENSATION CONSULTING FIRM. COMPENSATION ADJUSTMENTS ARE APPROVED BY COMPENSATION COMMITTEE MEMBERS, CONSISTENT WITH THE COREWELL HEALTH COMPENSATION PHILOSOPHY DESCRIBED BELOW. MINUTES OF COMMITTEE DISCUSSIONS AND DECISIONS ARE PREPARED TO MEMORIALIZE COMPENSATION COMMITTEE DECISIONS BASED UPON THE ABOVE DATA. COMPENSATION DATA RELIED UPON BY THE COMPENSATION COMMITTEE IS NATIONAL AND REFLECTS TOTAL COMPENSATION PAID TO EXECUTIVES IN COMPARABLE JOBS IN COMPARABLY SIZED HEALTH CARE AND/OR HEALTH INSURANCE ORGANIZATIONS. COREWELL HEALTH RECRUITS NATIONALLY FOR ITS EXECUTIVES. BENEFITS DATA REFLECTS NATIONAL HEALTH CARE/HEALTH INSURANCE MARKET PRACTICES. THIS PROCESS IS INTENDED TO ASSIST COREWELL HEALTH IN QUALIFYING FOR THE REBUTTABLE PRESUMPTION OF REASONABLENESS (INTERMEDIATE SANCTIONS REGULATIONS). THE OPINION SUBMITTED FROM THE THIRD-PARTY INDEPENDENT CONSULTING FIRM IS IN ACCORDANCE WITH THE PROVISIONS OF TREASURY REGULATIONS SECTION 53.4958-6(C)(2) AND IS ALSO INTENDED TO SATISFY THE PROFESSIONAL ADVICE REQUIREMENT OF TREASURY REGULATIONS SECTION 53.4958-1(D)(4)(III). Part I, Lines 4a-b THE FOLLOWING INDIVIDUAL RECEIVED SEVERANCE PAYMENTS: MARGARET COONEY - CASEY $311,705 LINE 4B IS ANSWERED YES BECAUSE CERTAIN INDIVIDUALS DO PARTICIPATE IN SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN(S). SOME INDIVIDUALS RECEIVED DISTRIBUTIONS DURING THE YEAR (AS REPORTED ON THIS LINE) WHEREAS OTHERS PARTICIPATED IN THE PLAN(S) BUT DID NOT RECEIVE DISTRIBUTIONS. THE FOLLOWING INDIVIDUALS RECEIVED PAYMENTS FROM A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN: CHRISTINA FREESE DECKER $1,449,979 DARRYL ELMOUCHI MD $538,007 MARGARET COONEY - CASEY $66,204 MATTHEW E. COX $470,111 MATTHEW DENENBERG MD $12,235 DISTRIBUTIONS REPORTED ON THIS LINE ARE ALSO INCLUDED IN PART II, COLUMN F AS COMPENSATION REPORTED IN A PRIOR YEAR WHILE ALSO BEING REPORTED IN THE CURRENT 990 AS TOTAL COMPENSATION. THE NONQUALIFIED RETIREMENT PLANS ARE AN INDUSTRY STANDARD AND ARE SUBJECT TO THE FUNDING REQUIREMENTS OF NONQUALIFIED DEFERRED COMPENSATION PLANS UNDER ERISA AND FEDERAL TAX REGULATIONS. PART II COMPENSATION REPORTED IS PRIMARILY FOR PROFESSIONAL RESPONSIBILITIES AS PHYSICIANS, ADMINISTRATORS, OR EMPLOYEES OF RELATED ORGANIZATIONS OF THE HEALTH SYSTEM. THE USE OF PY IN THE TITLE FOR AN OFFICER, DIRECTOR, TRUSTEE, KEY EMPLOYEE, HIGHEST COMPENSATED EMPLOYEE, OR FORMER INDICATES THAT THIS MEMBER ONLY SERVED IN THEIR CAPACITY FOR PART OF THE YEAR. X 22 1660467 MARKET VALUE 0 0 1 0 Form 990, Part VI, Section A, line 2 CHRISTINA FREESE DECKER, DARRYL ELMOUCHI MD, AND MATTHEW E. COX HAVE A BUSINESS RELATIONSHIP AS THEY SERVE AS AN OFFICER OR DIRECTOR OF COREWELL HEALTH INDEMNITY COMPANY, LTD, A RELATED TAXABLE ENTITY. DARRYL ELMOUCHI MD AND DONALD CONN MD HAVE A BUSINESS RELATIONSHIP AS THEY SERVE AS AN OFFICER OR DIRECTOR OF COREWELL HEALTH PHYSICIANS INSURANCE COMPANY, A RELATED TAXABLE ENTITY. CHRISTINA FREESE DECKER AND MATTHEW E. COX HAVE A BUSINESS RELATIONSHIP AS THEY SERVE AS AN OFFICER OR DIRECTOR OF PRIORITY HEALTH MANAGED BENEFITS, INC., A RELATED TAXABLE ENTITY. Form 990, Part VI, Section A, line 6 COREWELL HEALTH, A MICHIGAN NONPROFIT CORPORATION, IS THE ULTIMATE SOLE MEMBER OF BEAUMONT HEALTH FOUNDATION. Form 990, Part VI, Section A, line 7a COREWELL HEALTH, A MICHIGAN NONPROFIT CORPORATION, IS THE ULTIMATE SOLE MEMBER OF BEAUMONT HEALTH FOUNDATION AND HAS THE RIGHT TO ELECT ONE OR MORE MEMBERS OF BEAUMONT HEALTH FOUNDATION'S GOVERNING BODY. Form 990, Part VI, Section A, line 7b COREWELL HEALTH, A MICHIGAN NONPROFIT CORPORATION, IS THE ULTIMATE SOLE MEMBER OF BEAUMONT HEALTH FOUNDATION AND HAS CERTAIN RESERVED POWERS OVER OPERATIONS OF BEAUMONT HEALTH FOUNDATION, INCLUDING BUT NOT LIMITED TO BUDGET, ACQUISITIONS, CAPITAL PROJECTS, AND PARTICIPATION IN JOINT VENTURES. Form 990, Part VI, Section B, line 11b THE FORM 990 IS PREPARED BY COREWELL HEALTH CORPORATE TAX. IT IS REVIEWED BY THE CORPORATE TAX MANAGER AND THE DIRECTOR OF TAX. A COPY OF THE FORM 990 IS THEN PROVIDED TO EACH MEMBER OF THE GOVERNING BODY. ALL QUESTIONS ARE ADDRESSED PRIOR TO FILING THE FORM 990. Form 990, Part VI, Section B, line 12c 1. CONFLICTS OF INTEREST MUST BE DISCLOSED, VIA AN ANNUAL ELECTRONIC DISCLOSURE PROCESS AND VERBALLY AT EACH BOARD AND BOARD COMMITTEE MEETING AS PART OF THE DECLARATION OF CONFLICT OF INTEREST PRIOR TO DISCUSSION OF ANY AGENDA ITEMS. 2. A PERSON HAVING A FINANCIAL INTEREST IN A PROPOSED TRANSACTION OR ARRANGEMENT MAY MAKE A PRESENTATION AT A MEETING OF THE BOARD OR COMMITTEE WHICH IS CONSIDERING THAT TRANSACTION OR ARRANGEMENT, BUT AFTER THAT PRESENTATION HE/SHE SHALL LEAVE THE MEETING BEFORE DISCUSSION AND VOTING ON THAT PROPOSED TRANSACTION OR ARRANGEMENT. THE PERSON HAVING THE FINANCIAL INTEREST SHALL NOT BE COUNTED IN DETERMINING WHETHER A QUORUM IS PRESENT. 3. THE CHAIRPERSON OF THE BOARD OR THE COMMITTEE CHAIR SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE (INCLUDING OUTSIDE ADVISORS) TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT, AND TO ADVISE WHETHER THE PROPOSED TRANSACTION OR ARRANGEMENT IS IN THE ORGANIZATION'S BEST INTEREST. 4. THE BOARD OR COMMITTEE SHALL EXERCISE DUE DILIGENCE TO DETERMINE WHETHER THE ORGANIZATION CAN, WITH REASONABLE EFFORTS, OBTAIN A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. 5. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY ATTAINABLE UNDER CIRCUMSTANCES THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST, THE BOARD OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS AND MEMBERS WHETHER THE PROPOSED TRANSACTION OR ARRANGEMENT IS IN THE ORGANIZATION'S BEST INTEREST AND FOR ITS OWN BENEFIT AND WHETHER THE TRANSACTION IS FAIR AND REASONABLE TO THE ORGANIZATION, AND SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT IN CONFORMITY WITH SUCH DETERMINATION. 6. THE MINUTES OF THE MEETINGS OF THE BOARD AND ALL OF THE ORGANIZATION'S COMMITTEES SHALL SET FORTH: A) THE NAMES OF THE PERSONS WHO DISCLOSED A FINANCIAL INTEREST IN A PROPOSED TRANSACTION OR ARRANGEMENT INVOLVING THE ORGANIZATION OR ANY OF ITS SUBSIDIARIES AND THE NATURE OF THE FINANCIAL INTEREST; AND B) THE NAMES OF THE PERSONS WHO WERE PRESENT FOR DISCUSSIONS AND VOTES RELATING TO SUCH TRANSACTION OR ARRANGEMENT, INCLUDING ANY DISCUSSION OF ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT, AND A RECORD OF ANY VOTES TAKEN IN CONNECTION WITH THAT MATTER. THE VOTES OF INDIVIDUAL MEMBERS NEED NOT BE RECORDED UNLESS OTHERWISE DIRECTED BY THE BOARD OF DIRECTORS OR COMMITTEE. 7. THERE IS AN ONGOING REQUIREMENT THAT MEMBERS OF THE BOARD AND BOARD COMMITTEES UPDATE THEIR ANNUAL DISCLOSURE QUESTIONNAIRE AT ANY POINT DURING HIS/HER TENURE ON THE BOARD OF DIRECTORS WHEN A NEW POTENTIAL CONFLICT OF INTEREST ARISES. MANAGEMENT 1. UPON ACCEPTANCE OF AN EMPLOYMENT OFFER, EACH MEMBER OF MANAGEMENT (DIRECTORS AND ABOVE) COMPLETE A CONFLICT-OF-INTEREST DISCLOSURE QUESTIONNAIRE. A COPY OF THE MEMBER OF MANAGEMENT'S DISCLOSURE QUESTIONNAIRE IS SENT TO THE ORGANIZATION'S SYSTEM COMPLIANCE DEPARTMENT. A COPY OF THE MEMBER OF MANAGEMENT'S DISCLOSURE IS REVIEWED BY THE ORGANIZATION'S COMPLIANCE OPERATIONS ANALYST AND ESCALATED TO THE APPROPRIATE EXECUTIVE LEADERSHIP TEAM, IF NECESSARY. 2. ANNUALLY, EACH MEMBER OF MANAGEMENT (DIRECTORS AND ABOVE) COMPLETES AN ANNUAL CONFLICT OF INTEREST DISCLOSURE QUESTIONNAIRE ELECTRONICALLY. IF THERE IS AN AFFIRMATIVE DISCLOSURE, THE QUESTIONNAIRE IS REVIEWED BY THE APPROPRIATE EXECUTIVE LEADERSHIP TEAM. 3. THERE IS AN ONGOING REQUIREMENT TO UPDATE THE DISCLOSURE QUESTIONNAIRE WHEN A NEW POTENTIAL CONFLICT OF INTEREST ARISES. UPDATED DISCLOSURES FOLLOW THE SAME PROCESS AS INITIAL DISCLOSURES DESCRIBED ABOVE. 4. THE COMPLIANCE OFFICER, IN CONSULTATION WITH EXECUTIVE MANAGEMENT, DETERMINES HOW REPORTED CONFLICTS SHOULD BE MANAGED. MANAGEMENT OF A CONFLICT MAY TAKE A VARIETY OF DIFFERENT FORMS FROM IMPLEMENTATION OF A MANAGEMENT PLAN TO REQUIRING THAT THE MEMBER OF MANAGEMENT CEASE THE ACTIVITY CREATING THE CONFLICT OR, IN EXTREME CASES, LEAVE THE ORGANIZATION'S EMPLOYMENT. MANAGEMENT OF A CONFLICT IS DETERMINED ON AN INDIVIDUAL BASIS BASED UPON THE FACTS AND CIRCUMSTANCES SURROUNDING THE DISCLOSURE. THE PURPOSE OF CONFLICT MANAGEMENT IS TO PROVIDE TRANSPARENCY WITHIN THE ORGANIZATION AND TO ENSURE THAT THE ORGANIZATION'S EMPLOYEES ARE ALWAYS ACTING IN THE BEST INTEREST OF THE ORGANIZATION. Form 990, Part VI, Section C, line 19 THE ORGANIZATION'S ARTICLES OF INCORPORATION HAVE BEEN PROVIDED TO THE STATE OF MICHIGAN AND ARE AVAILABLE TO THE PUBLIC ON THE STATE'S WEBSITE. THE ORGANIZATION'S BYLAWS AND INTERNAL POLICIES ARE GENERALLY NOT MADE AVAILABLE TO THE PUBLIC. Form 990, Part IX, line 11g SHARED SERVICES/MGMT FEES: Program service expenses 0. Management and general expenses 0. Fundraising expenses 5,787,469. Total expenses 5,787,469. Form 990, Part XI, line 9: ADJUSTMENT TO PLEDGES 15,717,017. PLEDGE WRITE OFFS 460,584. TRANSFERS OF FUNDS FROM AFFILIATES 104,081. FORM 990, PART XII, LINE 2C NO CHANGE IN OVERSIGHT FROM PRIOR YEAR. 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