2021-08-13T08:32:31-07:00 2020-09-30 990 2019-10-01 042103602 MILFORD REGIONAL MEDICAL CENTER INC MILF 5084731190 14 PROSPECT STREET MILFORD MA 017573090 EDWARD J KELLY PRESIDENT & CEO 5084731190 2021-08-13 2019 2022-09-23 18:48:47Z Edward Kelly 14 Prospect St Milford MA 01757 234129490 0 X WWW.MILFORDREGIONAL.ORG X 1903 MA Milford Regional Medical Center Inc mission statement is to provide quality healthcare services to our community with dignity, compassion, and respect. 15 9 2209 511 151945 0 3663736 17315833 219690678 204553645 1412728 290897 10225440 9812681 234992582 231973056 0 0 0 0 125954572 124848923 0 0 1634035 92991789 101230456 218946361 226079379 16046221 5893677 269524029 298103597 144554467 170298048 124969562 127805549 X Milford Regional Medical Center Inc is committed to providing exceptional healthcare services to our community with dignity, compassion and respect. 0 1 198479970 231973056 In FY 2020, Milford Regional Medical Center leadership put decades of routine disaster drills to the test on March 10, when Governor Charlie Baker declared a state of emergency as COVID-19 cases in the state of Massachusetts were rapidly increasing. Within hours, Milford Regional Medical Center activated their disaster plan establishing a Command Center with key personnel to oversee around-the-clock care, treatment and supplies. An online assessment tool was launched to help community members check their symptoms. A dedicated hotline manned by clinical staff was set up to answer community concerns about COVID-19. Drive-thru COVID-19 testing was soon available at Milford Regional Medical Center. In addition, a 3,800-square-foot alternate care site was constructed on campus to ensure availability of extra space should a potential surge in COVID-19 patients require it. Four existing Milford Regional Urgent Care sites, staffed by Milford Regional Physician Group, were transformed throughout the pandemic to accommodate the healthcare needs of patients with and without COVID-19 symptoms. Their physician offices activated a wide-spread tele-health initiative to provide important face-to-face care for their patients. While the virus was building in strength, so was the determination of our healthcare system to meet the challenge. At the Medical Center, every member of the team from physicians, nurses and auxiliary staff to dietary and housekeeping was focused on the needs of a mounting number of admitted COVID patients. In support of that dedication, leadership was focused on ensuring the safety of the staff, which continues into FY 2021. Leadership convened daily to assess the situation and the entire system constantly reinvented itself throughout the year to meet the changing demands of the virus, government regulations and the needs of patients and staff. A true spirit of teamwork enveloped every corner of the hospital and off-campus sites. While COVID-19 gripped Milford Regional Healthcare System and our entire community, Milford Regional leadership was also mindful of the important program and service initiatives that were in motion for 2020. In addition to opening Milford Regional's Level 1B Nursery and new pharmacy expansion, a wide array of programs and services were shepherded to fruition to ensure that our community's healthcare needs will continue to be met far into the future. Level 1B Continuing Care Nursery Milford Regional has been licensed and approved by the Department of Public Health to operate a Level 1B Continuing Care Nursery within The Maternity Center. The new designation allows Milford Regional to provide a broader range of services to newborns that require additional specialized care and support. Milford Regional's Level 1B nursery is designed to accommodate the extra care, comfort and needs of late preterm babies at 35 weeks and beyond, as well as those with health issues. Milford Regional's Level 1B Nursery is equipped with the latest technologies, including: * Cardiopulmonary monitors * LED phototherapy lights for elevated bilirubin levels * Radiant warming units * Resuscitation and stabilization care centers * IV infusion pumps * Isolettes * Donor milk * Oxygen therapy Pharmacy Expansion Milford Regional's Pharmacy expansion completed both phases of construction in FY 2020, bringing this important department to 4,570 square feet, which more than tripled its size. The expansion includes a new, state-of-the-art compounding suite which meets upcoming pharmacy regulations. This area includes seven rooms: two sterile compounding rooms (one for hazardous, one for non-hazardous), one anteroom (where employees suit up for sterile compounding), two storage/staging areas, a nonsterile compounding room and a changing room. The pharmacy workspace includes a new carousel, providing key storage for medication, space for unit dose packaging, computer and non-computer workstations, refrigerator and freezer capacity and other needed storage. The new Milford Regional Pharmacy also includes a new vestibule, dedicated pharmacist pod, offices and breakroom. Milford Regional has partnered with Brigham and Women's Hospital to provide world-class thoracic surgery on our campus since 2002 and has performed lung cancer screenings since 2012. However, with the introduction of Brigham and Women's Thoracic Surgeon Brian Whang, MD, as Chair of Thoracic Surgery on Milford Regional's medical staff, the hospital made an investment to develop a comprehensive lung cancer screening program (done with low-dose computed tomography) to discover lung cancer at its earliest stage with the best possible outcome. The world-class program employs leading-edge surgical technology that includes the revolutionary SPiN Thoracic Navigation SystemTM which allows our thoracic surgeons to accurately navigate to lung nodules, and then biopsy nodules that were previously unreachable due to their size or location. The program also offers a comprehensive tracking system that follows each patient throughout their care and the expert input of a pulmonary lung nodule review board. Dr. Whang is joined by an experienced team that includes Thoracic Surgeon Matthew Rochefort, MD; Physician Assistant Chris LeSiege, PA; and Lung Cancer Screening Coordinator Kristine Lacourse. With this highly regarded team in place, patients can be confident that their care will be comprehensive, thorough and timely. "Bridge Clinic" The National Institute on Drug Abuse reports that emergency rooms see nearly 4.6 million drug-related visits per year. Of those, 45 percent of patients report drug misuse, including nonmedical use of pharmaceuticals, use of illicit drugs, and alcohol-use disorder. Dr. Jeffrey Hopkins, medical director of Milford Regional's emergency department, was instrumental in helping Milford Regional create a partnership with Spectrum Health Systems, Inc. Spectrum, a nonprofit organization dedicated to providing a comprehensive continuum of addiction treatment, provides rapid access to medication-assisted treatment (MAT) to patients of the emergency department (ED) and other MRMC-affiliated patient care sites. Through this collaborative effort, Milford Regional and Spectrum are bridging the gap between emergency care and primary care offices for individuals struggling with substance use disorders and longer-term addiction treatment. To alleviate the increasing pressure put on its ED, Milford Regional now refers patients seeking help for opioid addiction to Spectrum Health Systems' nearby center, located at 200 Main Street in Milford. The center now acts as a "bridge clinic" between the two providers. Their patients receive individualized care that is specific to their addiction from Spectrum's top clinicians and behavioral health professionals. Pain Management Clinic Milford Regional Medical Center opened a new clinic offering a comprehensive approach to pain management focused on alleviating symptoms, restoring function and encouraging emotional health. Brigham and Women's Center for Pain Medicine at Milford is led by Medical Director Victor Wang, MD, PhD and Edward Michna, MD. These two physicians have stellar reputations and medical expertise from several outstanding tertiary care centers within the United States. Dr. Wang is board certified in both neurology and pain medicine and holds appointments in both the anesthesiology and neurology departments at Brigham and Women's Hospital. In addition, Dr. Wang is an instructor at Harvard Medical School. Dr. Michna performed a residency in anesthesia and a fellowship in pain medicine at Brigham and Women's Hospital. He is board certified in anesthesia, pain medicine and palliative care. Dr. Michna is an assistant professor in anesthesia at Harvard Medical School and is the Director of the Pain Trials Center at Brigham and Women's Hospital. The Center for Pain Medicine offers a multi-disciplinary team approach that works with primary care physicians, spine surgeons and other specialists to provide a thorough and individually tailored program for patients to manage their pain. At the Center for Pain Medicine, the team offers services that include anesthesiology, psychiatry, psychology, nursing, neurology and physical therapy to treat a variety of conditions including back pain, abdominal pain, vascular pain, headaches, neuropathic pain, neck pain, pancreatitis, pelvic pain, cancer pain, peripheral neuropathy and chronic post-surgical pain. MEDITECH Expanse As FY 2020 came to an end, Milford Regional achieved successful implementation of its new MEDITECH Expanse electronic medical record (EMR) system. This state-of-the-art EMR platform enhances patient care through a full integration of their medical information within the hospital that allows clinicians to view one continuous record throughout their stay. The quality of care and safety is positively impacted through an improved patient and provider experience. Patients' m 0 0 0 198479970 1 1 0 1 0 0 0 0 0 1 1 0 0 0 1 0 0 1 0 0 0 0 0 0 1 0 1 1 0 0 1 1 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 1 0 0 0 1 X 149 0 1 2209 1 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 15 9 1 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 MA X Edward J Kelly 5084731190 14 PROSPECT STREET MILFORD MA 017573090 Edward J Kelly President & CEO 40 0 X 965734 0 104539 Leslie Selbovitz Chief Medical Officer 40 0 X 552441 0 5104 Nicole A Thyne Chief Operating Officer 40 0 X 367209 0 26920 Bert Thurlo-Walsh VP Quality 40 0 X 289156 0 20920 Judy Kelly VP of Patient Care Services 40 0 X 271473 0 25038 Jeanne Lynskey VP Finance, CFO 40 0 X 279752 0 14476 James Papadakos Executive VP Finance, CFO 40 0 X 238532 0 36859 Alice Hall VP Human Resources 40 0 X 192123 0 24659 Emily Quinn VP of Philanthropy 40 0 X 173312 0 25053 Terri McDonald VP Marketing PR Communications 40 0 X 174159 0 23522 Richard J Daly MD Trustee 1 0 X 25000 0 0 Jeffrey Hopkins MD Trustee 1 0 X 3150 0 0 William G Muller MD Trustee 1 0 X 0 0 0 John J Burns Trustee 1 0 X 0 0 0 William G Burrill Trustee 1 0 X 0 0 0 Beverly Swymer Trustee 1 0 X 0 0 0 Barbara A Auger Trustee 1 0 X 0 0 0 Robert L Kilroy Chairman 1 0 X 0 0 0 Gordon Lewis Treasurer 1 0 X 0 0 0 Andrew Salmon Vice Chairman 1 0 X 0 0 0 Laura Mann Clerk 1 0 X 0 0 0 Jamie Doucette Trustee 1 0 X 0 0 0 Anthony Consigli Trustee 1 0 X 0 0 0 Vascen Bogigian Trustee 1 0 X 0 0 0 Denise Brookhouse Trustee 1 0 X 0 0 0 3532041 0 307090 224 1 1 1 Consigli Construction 72 Sumner St Milford MA 01757 Construction 6472839 Alliance Healthcare Inc PO Box 96485 Chicago IL 60693 MRI Services/PET Services 4184660 Roundtower Northeast 5905 E Galbraith Rd 3rd floor Cincinnati OH 45236 Service Support 1758354 University of Massachusetts 55 Lake Avenue N Worcester MA 01655 Fee for Residency Program 1532454 Orion Emergency Services 26 Old Brook Rd Shrewsbury MA 01545 Emergency Room Management 1387379 28 0 0 896650 0 15282484 1136699 30784 17315833 Total Inpatient/Outpatient Revenue 622000 204553645 204401700 151945 0 0 0 0 0 204553645 468001 468001 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1601229 1900 1740697 39536 -139468 -37636 -177104 -177104 0 0 139856 896650 376201 -236345 0 -236345 0 0 0 0 0 0 0 0 0 0 0 0 Cancer Center 900099 5067082 5067082 0 0 Rents 900099 2450842 2450842 0 0 Cafeteria 900099 664012 664012 0 0 1867090 1867090 0 0 10049026 231973056 214741623 151945 -236345 0 0 0 0 0 0 0 0 1274197 0 1274197 0 0 0 0 0 100556614 89348955 10826160 381499 1611300 1417944 177243 16113 12687975 11165418 1395677 126880 8718837 7672577 959072 87188 2439490 2360486 79004 0 287295 0 287295 0 78612 0 78612 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 150198 132174 16522 1502 45280709 42886088 1677952 716669 3421977 2967972 370997 83008 0 0 0 0 9513925 8606109 837369 70447 61037 35415 25453 169 0 0 0 0 0 0 0 0 4854506 0 4854506 0 0 0 0 0 11011334 9689974 1211247 110113 1216271 1083635 121583 11053 Contract Services 11802594 10000715 1772485 29394 Collection fee 887527 887527 0 0 Physician Fees 6089675 6089675 0 0 Health Safety net 3548220 3548220 0 0 587086 587086 0 0 226079379 198479970 25965374 1634035 3340 3340 52285616 84202825 6296470 5293610 29333191 26979158 0 0 0 0 0 0 4540041 4733864 2809075 3291138 271956882 124014431 142375546 147942451 0 0 11126524 12236992 0 0 0 0 20754226 13420219 269524029 298103597 23343606 23974545 0 0 0 0 112878060 106602247 0 0 0 0 0 0 0 0 8332801 39721256 144554467 170298048 X 114268411 117917871 10701151 9887678 124969562 127805549 269524029 298103597 X 5893677 2243470 0 0 0 -5301160 X X 1 1 X 1 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 0 0 1 19311 19311 0 Schedule C, Part II-B, Line 1 From time to time, the Hospital reaches out to our state and federal legislators on matters relating to Hospital Operations. Letter I - the $19,311 represents a portion of Massachusetts Hospital and American Hospital Association dues used for lobbying purposes as defined by Medicare. 3693224 0 461948 0 69967 0 4085205 3536586 0 214440 0 57802 0 3693224 3068679 0 472689 0 4782 0 3536586 2725778 0 356047 0 13146 0 3068679 2522157 0 210118 0 6497 0 2725778 0 0.15 0.85 0 0 11021373 0 11021373 143023458 0 50100309 92923149 1336947 0 784115 552832 98707632 0 73130007 25577625 17867472 0 0 17867472 147942451 Debt Service Reserve Fund F & G 9253569 Rockland Trust Escrow Fund 2878881 Debt Service Fund - F & G 1274067 Due from Endowment Fund 13702 13420219 0 Due to Third Party Contractors 39721256 39721256 X Schedule D, Part V, Line 4 The organization has a Spending Policy which provides a policy with regards to the use of investment income and gains on amounts held in the Endowment Funds. Further to provide a consistent, predictable level of support to operations and permit the organization to maintain the purchasing power of the amounts held in the Endowment Fund. The amounts to made available to the operating fund will be calculated at the end of the third quarter of each fiscal year. Schedule D, Part X, Line 2 A review has been performed of each of the Organizations' revenue streams in relation to FIN 48. The result of the review is that the following has been identified as Unrelated Business Income: Non patient laboratory testing provided to nursing homes and non-affiliated (non Milford Regional Physician Group ) physician offices. Golf 124155 119850 4305 0 0 15097 624 0 12511 Melange 769800 765100 4700 0 0 0 71348 16440 223724 3 142551 11700 130851 0 0 0 0 2500 33957 1036506 896650 139856 0 0 15097 71972 18940 270192 376201 -236345 1 1 1 X 1 X 1 1 1 0 0 5589862 1944152 3645710 0.016 22409022 16898238 5510784 0.03 5663741 4391733 1272008 0.01 0 0 33662625 23234123 10428502 0.056 10 100290 0 100290 0.00044 4 1917279 708718 1208561 0.01 9 7466590 501255 6965335 0.03 23 0 9484159 1209973 8274186 0.04044 23 0 43146784 24444096 18702688 0.09644 1 3970876 805069 53858956 70638565 -16779609 X 1 1 1 1 Milford Regional Medical Center Inc 14 Prospect Street Milford MA 01757 www.milfordregional.org 2105 X X X X Milford Regional Medical Center Inc 1 0 0 1 X X X X X X X X X 18 1 0 0 1 X foundation.milfordregional.org 1 18 1 www.milfordregional.org 0 0 1 X 200 350 X X X X 1 1 X X X 1 X www.milfordregional.org/financialservice X www.milfordregional.org X www.milfordregional.org X X X 1 X 0 X X X 1 X 0 1 Schedule H, Part V, Section B, Line 5-Milford Regional Medical Center Inc Milford Regional Medical Center completed our Community Health Needs Assessment (CHA) in March 2018, assisted by Holleran Consulting, LLC. Those who participated in the process represented a broad cross-section of our community, including not only residents of our communities, but those who work in health care, public safety, government, education and the clergy. A Strategic Implementation Plan was developed by a committee that included members of the Community Benefits Leadership Team and members of the community, all of whom reviewed, evaluated and synthesized goals and objectives of the priority areas: mental health and substance abuse, chronic disease management and health promotion, access to care, and violence prevention. A public presentation was made to the community for community input prior to the CHA being formally accepted and approved by the Milford Regional Board of Trustees. Milford Regional continues to work closely with its community partners in CHNA 6 to help address those needs identified in the CHA. Schedule H, Part V, Section B, Line 11-Milford Regional Medical Center Inc The Community Health Needs Assessment was presented to community leaders, school superintendents, social service and public health agencies at a public meeting hosted by CHNA 6. Milford Regional continues to work with community partners within CHNA 6 and our service area to focus on the four priority areas of mental health and substance abuse, chronic disease management and health promotion, access to care and violence prevention. Working as part of CHNA 6, grants were awarded to community agencies and organizations for work being done in the areas of chronic disease prevention and health promotion, behavioral health and substance abuse and access to care. The hospital continues to work internally to address those priorities as well. Schedule H, Part V, Section B, Line 13h-Milford Regional Medical Center Inc Asset level is used for Medicare patients only. This follows Medicare guidelines. Schedule H, Part V, Section B, Line 20d-Milford Regional Medical Center Inc Milford Regional Medical Center does not make presumptive determinations. The Hospital as a facility does not deny care to any patient regardless of their MAGI. Schedule H, Part V, Section B, Line 24-Milford Regional Medical Center Inc At the Hospital, all patients are charged the gross charges for any services. Upon contact from an uninsured patient, a discussion occurs which may result in the discounting of gross charges. Schedule H, Part I, Line 7 Line 7 a/b/c were calculated using worksheets 1,2,3 provided in the instruction. Schedule H, Part I, Line 7, Column f Line 7f was determined by the cost and reimbursement information on the Medicare Cost Report. It was calculated by dividing Column E, Net Community Benefit Expense by total of Part IX Line 25 Form 990 Core Form. Schedule H, Part III, Section A, Line 2 The Hospital's bad debt expense was estimated as the product of the Hospital's bad debt multiplied by the Hospital's overall cost-to-charge ratio calculated on Worksheet 2 of the instructions. Schedule H, Part III, Section A, Line 3 Bad debt expense attributable to patients eligible for financial assistance was calculated as the accounts for which patients were unemployed at the time multiplied by the Hospital's overall cost-to-charge ratio. Schedule H, Part III, Section A, Line 4 In Line 2, Worksheet A in the instructions was used by taking bad debt as reported in the Hospital's audited financial statements multiplied by the cost-to-charge ratio calculated in Worksheet 2 in the instructions. Schedule H, Part III, Section B, Line 8 The Hospital's Medicare Cost Report was used to determine the amount reported in line 6. Schedule H, Part III, Section C, Line 9b Once it has been determined that a patient qualifies for full or partial free care, all collection procedures cease and the full balance, or amount that qualifies under partial free care, is written off. Massachusetts hospitals are required to adopt a credit and collections policy under the Health Safety Net (HSN) regulations (114.6 CMR 13.08 (1) (c)) that outlines the specific process for determining the eligibility for public assistance programs and hospital collection practices. Schedule H, Part VI, Line 2 Milford Regional stays current with studies by other agencies, particularly the MetroWest Adolescent Health Survey conducted by the MetroWest Health Foundation and state and local data. The Office of Community Benefits is actively engaged with the Community Health Network Area (CHNA) and other community coalitions/committees focusing on substance abuse, access to services, interpersonal violence prevention, cancer prevention and nutrition/physical activity/wellness to address emerging health needs. Schedule H, Part VI, Line 3 Patients are informed of the availability of financial assistance by way of payment statements printed with financial assistance information. At the time of discharge from the Emergency department, uninsured patients are encouraged to meet with an on-site Financial Counselor. If unable to meet with a Financial Counselor at the time of discharge, the patients are given a screening letter that gives contact information for our financial assistance department. The day following any emergency room visit, a form is generated on each uninsured patient and sent to the Financial Counselors. At that time, the Financial Counselor contact the patient to coordinate a meeting to apply for assistance, Scheduled self-pay Surgical Day Care (SDC) and inpatients are reviewed prior to admission to determine payment arrangement or to coordinate a meeting with a Financial Counselor. Insured SDC and inpatients who are unable to leave a deposit o make arrangements toward a large out of pocket expense are also encouraged to meet with a Financial Counselor. Schedule H, Part VI, Line 4 Milford Regional Medical Center serves the healthcare needs of the residents of 19 communities in Central Massachusetts, spanning 3 separate counties: Worcester, Norfolk, and Middlesex. The Hospital's primary service area consists of Milford, Franklin, Bellingham, Northbridge, Whitinsville, Uxbridge, Blackstone, Hopedale, Medway, and Mendon, a population of 145,362 according to the 2010 US Census data. The Hospital's secondary service consists of Douglas, Grafton, Hopkinton, Holliston, Millis, Wrentham, Upton, Medfield and Millville, a population of 96,310. The population of the MRMC service area has grown almost 9% over the past decade as opposed to the statewide average of 3%. The residents of this region are primarily Caucasian, accounting for 93.6% of the population. Hispanics comprise 2.7% of the population, with Asians also at 2.7% and Blacks at 1.0%. The population is nearly even in terms of gender, with 51% females. The bulk of the adult population (71.6%) is between the ages of 18-54, slightly higher than the state percentage, which is 68%. There has been an influx of Egyptian, Central American and Brazilian immigrants to the area, most likely not represented in these totals, but estimated at several thousand additional residents. X 1 1 X X X X X 0 1 0 0 0 0 0 0 0 Edward J Kelly President & CEO 580176 0 225000 0 160558 0 72558 0 31981 0 1070273 0 0 0 James Papadakos Executive VP Finance, CFO 238532 0 0 0 0 0 25000 0 11859 0 275391 0 0 0 Leslie Selbovitz Chief Medical Officer 502441 0 50000 0 0 0 0 0 5104 0 557545 0 0 0 Nicole A Thyne Chief Operating Officer 336209 0 31000 0 0 0 0 0 26920 0 394129 0 0 0 Bert Thurlo-Walsh VP Quality 269156 0 20000 0 0 0 0 0 20920 0 310076 0 0 0 Alice Hall VP Human Resources 192123 0 0 0 0 0 0 0 24659 0 216782 0 0 0 Judy Kelly VP of Patient Care Services 271473 0 0 0 0 0 0 0 25038 0 296511 0 0 0 Emily Quinn VP of Philanthropy 173312 0 0 0 0 0 0 0 25053 0 198365 0 0 0 Terri McDonald VP Marketing PR Communications 174159 0 0 0 0 0 0 0 23522 0 197681 0 0 0 Jeanne Lynskey VP Finance, CFO 192485 0 75000 0 0 0 0 0 14476 0 281961 0 0 0 Schedule J, Part I, Line 1a Payments made to some members of senior management for insurance premiums are grossed up. Schedule J, Part I, Line 4 Edward J Kelly and James Papadakos participate in a SERP, but there were no payouts during the year. A Massachusetts Devolopment Finance Agency 043431814 57583UC48 2014-01-29 45825887 See Supplemental Information 0 0 0 B Massachusetts Development Finance Agency 043431814 575844E62 2020-09-03 65301062 See Supplemental information 0 0 0 A 2855000 0 45825887 1747073 2743850 12282441 772110 0 0 28280393 0 0 2043 0 1 1 1 B 0 0 65301062 4867272 0 65805851 1059750 0 0 2271 0 0 2046 0 1 1 1 A 0 1 1 1 0 0 0 0 1 0 1 B 0 1 1 1 0 0 0 0 1 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 A 1 B 1 Schedule K, Part I, Column f-01/29/2014 45,825,887 Massachusetts Devolopment Finance Agency The proceeds from the sale of the Series F Bonds and certain other available moneys will be used to finance and refinance the following: (I) the construction, furnishing and equipping of, and site preparation for, a two-story addition to the Institution's main hospital building, (ii) the refunding of the Massachusetts Health and Educational Facilities Authority Revenue Bonds, Milford Whitinsville Regional Hospital issue, Series C (the "Refunded Bonds") currently outstanding in the aggregate principal amount of $12,205,000, (iii) the funding of a Debt Service Reserve Fund for the Series F Bonds, and (iv) the payment of costs of issuance associated with the Series F Bonds (collectively, the "Project"). The Refunded Bonds are expected to be redeemed approximately thirty-five (35) days following the issuance of the Series F bonds at a redemption price equal to 100% of the principal amount thereof. Schedule K, Part I, Column f-09/03/2020 65,301,062 Massachusetts Development Finance Agency The proceeds from the sale of the Series G Bonds and certain other available moneys will be used to finance and refinance the following: (i) the advanced refunding of the Massachusetts Health & Education Facilities Authority Revenue Bond, Milford Regional Medical Center issue, Series E (the "Refunded Bonds"), (ii) the funding of a Debt Service Reserve Fund for the Series G Bonds, (iii) the payment of costs of issuance associated with the Series G Bonds, and (iv) the advanced refunding of a loan with Rockland Trust Bank (loan used to finance new ERP project). Schedule K, Part IV, Line 2c-01/29/2014 45,825,887 Massachusetts Devolopment Finance Agency Calculation is performed annually in July. Schedule K, Part IV, Line 2c-09/03/2020 65,301,062 Massachusetts Development Finance Agency Calculation is performed annually in July. Kevin Meehan Former Trustee 280316 Payments were made to the Imperial dealerships and Rockland Trust. Mr. Meehan is the owner of the Imperial dealerships, and a shareholder in Rockland Trust. Mr. Meehan also made contributions to the Hospital. 0 Anthony Consigli Trustee 2364210 Payments were made to Consigli Construction. Mr. Consigli is the owner of Consigli Construction. Mr. Consigli also made contributions to the Hospital. 0 Robert Kilroy Trustee 178029 Payments were made to Mirick O'Connell for services provided to the Hospital. Mr. Kilroy is an employee of Mirick O'Connell. 0 Jeffrey Hopkins MD Trustee 1078840 Payments were made to Orion Emergency Services for services provided to the Hospital and Connecticut Medical Insurance for services rendered to the Hospital. Dr. Hopkins is an employee of Orion Emergency Services, Inc. Dr. Hopkins is a board member of CMIC. Dr. Hopkins also made contributions to the Hospital. 0 Paul Darcy Trustee 468519 Payments were made to Milford Anesthesia Associates for services rendered to the Hospital. Dr. Darcy is the owner of Milford Anesthesia Associates. 0 X 0 FMV X 1 30784 FMV X 113 0 FMV X 197 0 FMV 0 0 1 0 Schedule M, Part I, Line 33 MRMC Inc. does not currently account for certain non-cash contributions of in-kind donations as revenue. Form 990, Part III, Line 3 Milford Regional Medical Center had to cease many areas of operation due to the Covid-19 pandemic, including surgeries and outpatient ancillaries per State Order. Form 990, Part V, Line 3b Extension Granted. Form 990, Part VI, Section A, Line 2 Two of the Hospital's trustees have a business relationship outside of the Hospital, Bob Kilroy and Andrew Salmon. Form 990, Part VI, Section A, Line 6 The organization is governed by a Board of Trustees. In addition, the organization has incorporators who serve as an advisory capacity to the Board of Trustees. Form 990, Part VI, Section B, Line 11b The Form 990 was provided to the Board of Trustees prior to filing via a link to the document. Form 990, Part VI, Section B, Line 12c The Organization has a written Code of Business Conduct which includes its conflict of interest policy. The By-laws of the Organization also include a Conflict of Interest section. Conflict of Interest disclosure statements are mailed annually to the Board of Trustees, senior management, and any person who is a member of a Board Committee. The completed form is submitted to the President and CEO who summarizes the results and provides them to the Board of Trustees for their review and discussion. A subcommittee of the Board has been created to review any potential conflict of interest matters as they arise. Form 990, Part VI, Section B, Line 15 The Compensation Committee reviews the compensation of the President and CEO. The committee may consult with a nationally recognized consultant to assist in determining that the organization's compensation structure and ranges are reasonable. Form 990, Part VI, Section C, Line 19 The Organization makes its governing documents available to the public, such as its bylaws which include the Organization's conflict of interest policy, through the annual filing of the Massachusetts Division of Public Charities Form PC. The Form PC is available for viewing by the public on the Massachusetts Attorney General's website and is also attached to the annual filing of the Massachusetts Form 3ABC which is submitted to town offices where the Organization owns or leases property. The Organizations' financial statements are included in the Form PC and are also included in a quarterly filing to the Organization's bond holders. Form 990, Part XI, Line 9 The change in net assets results from transferring to affiliates ($5,654,207) and change in market value ($353,047). Form 990, Part XII, Line 3b The audit deadline is not until June 2022. Milford Regional Physicians Group Inc 9 Industrial Road Suite 5 Milford MA 01757 043159969 Physician Group MA 501(C)(3) 11A N/A MRHC Management Services Inc 14 Prospect Street Milford MA 01757 311631252 Provides office space, support to satellite clinics MA 501(C)(3) 11A N/A Milford Regional Healthcare Foundation Inc 14 Prospect Street Milford MA 01757 200773697 Fundraising MA 501(C)(3) 11A N/A Milford Whitinsville Healthcare Consortium Inc 14 Prospect Street Milford MA 01757 043248004 Physician Hospital Organization MA N/A C 0 366 0.5 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 1 1 0 Milford Regional Physicians Group Inc j -21636 Market value Milford Regional Physicians Group Inc k 181745 Market Value Milford Regional Physicians Group Inc r -11295621 Cost. Milford Regional Physicians Group Inc i 0 Milford Regional Physicians Group Inc p -5479775 Cost. Extension Granted.