2014-08-08T10:43:36-05:00 2013-09-30 042684828 FEELEY & DRISCOLL PC 200 PORTLAND STREET BOSTON MA 02114 990 2012-10-01 043358566 UMASS MEMORIAL HEALTH CARE INC (PARENT) UMAS 5083340496 306 BELMONT STREET WORCESTER MA 01604 SERGIO MELGAR 5088568537 2014-07-16 1 ALAN GAROFALO P00744592 6177427788 2012 2015-11-30 17:44:51Z SERGIO MELGAR 306 BELMONT STREET WORCESTER MA 01604 256422396 0 3642 X WWW.UMASSMEMORIAL.ORG X 1998 MA UMASS MEMORIAL HEALTH CARE, INC. IS COMMITTED TO IMPROVING THE HEALTH OF THE PEOPLE OF CENTRAL NEW ENGLAND THROUGH EXCELLENCE IN CLINICAL CARE, SERVICES, TEACHING AND RESEARCH. 19 13 0 0 -199 -199 3233936 991457 190420787 197317139 -1590881 8975946 2829358 2668410 194893200 209952952 0 1000000 0 0 0 0 1127995 0 -52694 220325900 226226308 221453895 227226308 -26560695 -17273356 206354442 235888083 87390521 67557754 118963921 168330329 UMASS MEMORIAL HEALTH CARE, INC. IS COMMITTED TO IMPROVING THE HEALTH OF THE PEOPLE OF CENTRAL NEW ENGLAND THROUGH EXCELLENCE IN CLINICAL CARE, SERVICES, TEACHING AND RESEARCH. 0 0 4558795 1000000 198421636 TO SUPPORT THE ADVANCEMENT OF THE KNOWLEDGE, EDUCATION, AND RESEARCH AND THE PRACTICE OF HEALTH CARE RELATED SERVICES THROUGH THE OVERSIGHT OF UMASS MEMORIAL HEALTH CARE OPERATIONS AND THE EFFICIENT DELIVERY OF SUPPORT SERVICES. 4558795 1 1 0 1 0 0 0 0 0 1 0 1 0 1 1 1 0 1 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0 0 1 0 0 1 0 0 0 0 1 1 1 0 0 1 0 0 0 0 1 CJ 0 0 0 0 0 0 0 0 X 19 13 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X ROBERT FELDMANN 5083340496 306 BELMONT STREET WORCESTER MA 01604 DICKSON ERIC W MD 40.00 X X 0 545340 168423 FINBERG ROBERT W MD 20.00 X 0 299143 159525 O'BRIEN JOHN G 40.00 X X 0 4053252 720966 OKIKE O NSIDINANYA MD 40.00 X 0 522904 42755 SEYMOUR-ROUTE PAULETTE PHD 40.00 X 0 4198 28614 BENNETT DAVID L 1.00 X 0 0 0 BENNETT RICHARD K 1.00 X 0 0 0 BERKEY DENNIS D 1.00 X 0 0 0 BERRY SARAH G 1.00 X 0 0 0 BUDD 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140830 HUDLIN MARGARET MD 40.00 X 0 333780 36178 HYLKA SHARON 40.00 X 0 420176 284804 KLUGMAN ROBERT MD 40.00 X 0 501084 284146 KRUGER NANCY 40.00 X 0 319806 68870 PHILLIPS ROBERT A MD 40.00 X 0 844144 302160 RANDOLPH JOHN T 40.00 X 0 248138 171007 0 12330465 4757998 0 0 1 1 XEROX BUSINESS SERVICES LLC PO BOX 201322 DALLAS TX 75320 I/S MANAGEMENT SERVICES 28483966 MCKINSEY & CO INC PO BOX 7247-7255 PHILADELPHIA PA 181707255 CONSULTING SERVICES 11625000 DELOITTE COUNSELING PO BOX 7247-6447 PHILADELPHIA PA 191706447 CONSULTING SERVICES 4158640 NUANCE TRANSCRIPTION SERVICES PO BOX 7247-7343 PHILADELPHIA PA 19170 TRANSCRIPTION SERVICES 2970994 UNIVERSAL HOSPITAL SERVICES INC PO BOX 86 MINNEAPOLIS MN 55486 MANAGING/SERVICING EQUIPMENT 2796234 35 991457 32356 991457 SYSTEM ALLOCATION REVE 561000 161874538 161874538 AFFILIATE RELATED PROG 561000 34234954 34234954 OTHER PSR 561000 1207647 1207647 197317139 3641806 -199 3642005 73187 73187 51326903 7593 46000356 0 5326547 7593 5334140 5334140 909536 469088 440448 440448 MISCELLANEOUS INCOME 561000 1104497 1104497 SUBLEASE INCOME 561000 1050278 1050278 2154775 209952952 198421636 -199 10540058 1000000 1000000 1777634 1777634 924319 924319 272828 272828 352251 352251 5319430 5319430 1500467 1500467 14796284 14796284 5742222 5742222 292465 6083 286382 415 9 406 28116316 28116316 PURCHASED SERVICES 160523963 1509751 159066906 -52694 PROFESSIONAL SERVICES 3063149 62977 3000172 OTHER DIRECT EXPENSES 1311353 507384 803969 PROGRAM EXPENDITURES 950944 950944 1282268 248819 1033449 227226308 4558795 222720207 -52694 6258287 1605671 4116306 1713574 646353 427410 4075715 836339 5006375 3961216 0 6216 146334969 179557937 37033173 31861953 120000 120000 2757048 15803983 206354442 235888083 32175180 28444272 412679 97284 54802662 39016198 87390521 67557754 X 60533111 108049666 32219971 34337443 26210839 25943220 118963921 168330329 206354442 235888083 X -17273356 10455667 56184097 X 0 1 X 1 1 1 X X X 0 0 0 UMASS MEMORIAL MEDICAL CENTER INC 043358564 03 1 1 1 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 1 32828 0 1 240000 0 272828 0 38224612 2507314 1625730 39106196 34479956 1198886 3963333 1417563 38224612 36676864 158165 -936731 1418342 34479956 34701644 622721 1795326 442827 36676864 34201797 76330 -5733 -429250 34701644 0.66000 0.34000 0 0 0 TIFF ABSOLUTE RETURN POOL CLASS A (SHARES 2,878) 12523844 F TIFF PRIVATE EQUITY PARTNERS 2006/2007 (SHARES 1,286,870) 1221651 F FRANK RUSSELL GLOBAL PRIVATE EQUITY FUND (SHARES 227,704) 180861 F MPPLTD PORTFOLIO CLASS A (SHARES 1,979) 83401 F AETOS CAPITAL LONG/SHORT STRATEGIES (SHARES 32,440) 3519672 F AETOS CAPITAL DISTRESSED STRATEGIES (SHARES 10,687) 1547604 F AETOS CAPITAL MULTI-STRATEGY ARBITRAGE (SHARES 17,848) 2179487 F TIFF ABSOLUTE RETURN POOL CLASS C (SHARES 1,773) 3548924 F BENEFICIAL INTEREST 7056509 F 31861953 CASH VALUE OF LIFE INSURANCE POLICIES 30897 DUE FROM RELATED PARTIES 15718125 OTHER NON-CURRENT ASSETS 54961 15803983 O/S LOSS RESERVES 32603135 DUE TO RELATED PARTIES 1099897 ANNUITY PAYABLE 3235444 THIRD PARTY LIABILITES 100013 DUE TO UNIVERSITY OF MASS 1977709 39016198 X 227344000 13400948 7491285 20892233 206451767 352251 3148934 3501185 209952952 233037000 6162943 6162943 226874057 352251 352251 227226308 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: PARENT - THE INTENDED USE OF THE ORGANIZATION'S ENDOWMENT FUNDS ARE DIRECTED IN ACCORDANCE WITH THE DONOR'S INTENT INCLUDING THE PRESERVATION OF THE ORIGINAL GIFT AND VARIOUS PURPOSES INCLUDING CHARITY CARE, MEDICAL EDUCATION, RESEARCH, HEALTH CARE SERVICES, BUILDINGS AND EQUIPMENT. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: FIN 48 FOOTNOTE: INCOME TAXES - UMASS MEMORIAL FOLLOWS A TWO-STEP APPROACH FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN. THE SUBSTANTIAL MAJORITY OF UMASS MEMORIAL AND ITS AFFILIATE ENTITIES ARE RECOGNIZED BY THE INTERNAL REVENUE SERVICE AS TAX-EXEMPT UNDER SECTION 501 (C) (3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, THESE ENTITIES WILL NOT INCUR ANY LIABILITY FOR FEDERAL INCOME TAXES EXCEPT FOR TAX ON UNRELATED BUSINESS INCOME. CERTAIN AFFILIATES ARE TAXABLE ENTITIES. THE MEASUREMENT OF THE AMOUNTS RECORDED AS A PROVISION FOR INCOME TAXES BASED UPON THE AFOREMENTIONED APPROACH IS NOT MATERIAL AND IS RECORDED AS PART OF SUPPLIES AND OTHER EXPENSE IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS OF OPERATIONS. UMASS MEMORIAL DOES NOT BELIEVE IT HAS TAKEN ANY SIGNIFICANT UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CO. 99E CPAC/PARENT ELIMS -24,387,000. CPAC 29,467,000. NARFR FROM OPS 2,410,342. ROUNDING 943. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES -469,088. FUNDRAISING REVENUE 909,536. INVESTMENT INCOME TEMP RESTRICTED 579,347. REALIZED G/L TEMP RESTRICTED 1,763,512. TEMP RESTRICTED REVENUE -368,913. TEMP RESTRICTED REVENUE 734,540. PART XII, LINE 2D - OTHER ADJUSTMENTS: CO. 99E CPAC/PARENT ELIMS -24,387,000. CPAC 30,549,000. ROUNDING 943. X X X X X 1 UMASS MEMORIAL FOUNDATION INC 333 SOUTH STREET SHREWSBURY MA 01545 FUNDRAISING 1 1129201 52694 1076507 1129201 52694 1076507 MA WINTER BALL 678157 678157 369422 GOLF TOURNAMENT 125823 125823 41243 3 105556 105556 58423 909536 909536 469088 469088 440448 EXPLANATION OF FUNDRAISING PAYMENTS SCHEDULE G, PART I, LINE 2B, COLUMN (V) PART I, LINE 2B, COLUMN (III) UMASS MEMORIAL FOUNDATION, INC. IS IDENTIFIED AS THE ADMINISTRATOR OF THE PHILANTHROPIC ACTIVITIES OF THE REPORTING ENTITIES OF UMASS MEMORIAL HEALTH CARE, INC. THIS INCLUDES THE COORDINATION OF ALL CHARITABLE WORK AND THE MANAGEMENT OF OFFICE OPERATIONS TO SUPPORT FUNDRAISING INCLUDING THE FOLLOWING PROCEDURES: 1) ACTIVE DEVELOPMENT WORK 2) DONOR RELATIONS AND COMMUNICATIONS 3) SERVICES TO UMASS MEMORIAL STAFF 4) CONTRIBUTION REPORTS, DONOR RECORD FILES 5) TRANSFER OF CONTRIBUTIONS RECEIVED (CONTRIBUTIONS RECEIVED BY THE FOUNDATION THAT ARE DELEGATED TO A UMASS MEMORIAL REPORTING ENTITY ARE DEPOSITED INTO A DESIGNATED ACCOUNT OF THE RESPECTIVE REPORTING ENTITY UPON RECEIPT.) 6) EXPENDITURES OF CONTRIBUTIONS PART I, LINE 2B, COLUMN (V) UMASS MEMORIAL HEALTH CARE, INC. PAYS UMASS MEMORIAL FOUNDATION, INC. ITS PRORATA SHARE OF OPERATING EXPENSES BASED ON THE SPLIT OF UMASS MEMORIAL CONTRIBUTION RECEIPTS VERSUS THE OVERALL TOTAL CONTRIBUTION RECEIPTS AS COLLECTED BY THE FOUNDATION. PART II, COLUMN (C) THE 3 EVENTS REPORTED IN COLUMN (B) ARE: 1) LINKS GOLF TOUR 2) STAR GALA 3) PINK LIGHTING THE WAY 1 UNIVERSITY OF MA MED SCHOOL 55 LAKE AVE N WORCESTER MA 01655 043167352 501(C)(3) 1000000 ACADEMIC CHAIR FUNDING 1 0 X X 1 1 X X X X X X 0 1 0 0 0 0 0 0 0 DICKSON ERIC W MD 0 419373 0 103620 0 22347 0 111023 0 57400 0 713763 0 20844 FINBERG ROBERT W MD 0 246772 0 52371 0 0 0 129892 0 29633 0 458668 0 0 O'BRIEN JOHN G 0 941448 0 232336 0 2879468 0 702230 0 18736 0 4774218 0 2416000 OKIKE O NSIDINANYA MD 0 451572 0 71332 0 0 0 12750 0 30005 0 565659 0 0 BROWN DOUGLAS S 0 396070 0 100266 0 35376 0 195153 0 23344 0 750209 0 35376 KEATING TODD A 0 472105 0 89313 0 45193 0 269603 0 22946 0 899160 0 45193 ANDERSON MILTON C 0 397857 0 102510 0 29545 0 53932 0 34137 0 617981 0 0 BLUTE MICHAEL MD 0 141719 0 0 0 0 0 121712 0 12258 0 275689 0 0 BOLLAND ESHGHI KATHARINE 0 263476 0 75219 0 0 0 46099 0 20957 0 405751 0 0 BRENCKLE GEORGE PHD 0 299172 0 53799 0 32290 0 138732 0 25440 0 549433 0 32290 CYR JAMES P 0 216941 0 49368 0 0 0 20862 0 20957 0 308128 0 0 DALEY JENNIFER MD 0 471116 0 85618 0 36904 0 887505 0 32301 0 1513444 0 36904 DIAMOND VICTORIA 0 258887 0 73741 0 47362 0 146196 0 28586 0 554772 0 47362 ETTINGER WALTER H MD 0 53421 0 0 0 75204 0 247254 0 1746 0 377625 0 70554 FISHER BARBARA 0 247551 0 62356 0 26121 0 118545 0 22285 0 476858 0 26121 HUDLIN MARGARET MD 0 244303 0 89477 0 0 0 12913 0 23265 0 369958 0 0 HYLKA SHARON 0 303806 0 80412 0 35958 0 263847 0 20957 0 704980 0 35958 KLUGMAN ROBERT MD 0 388171 0 76580 0 36333 0 260637 0 23509 0 785230 0 36333 KRUGER NANCY 0 223233 0 51084 0 45489 0 52773 0 16097 0 388676 0 27847 PHILLIPS ROBERT A MD 0 601362 0 172241 0 70541 0 292112 0 10048 0 1146304 0 70541 RANDOLPH JOHN T 0 195361 0 52777 0 0 0 148090 0 22917 0 419145 0 0 PART I, LINE 1A SPLIT DOLLAR GROSS UP CALCULATIONS TO WALTER ETTINGER ARE TREATED AS TAXABLE COMPENSATION PART I, LINE 4B NAME OF PARTICIPANTS IN OR RECEIVING PAYMENT FROM A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN EXECUTIVES BROWN, DOUGLAS S. $35,376 DICKSON, ERIC W., M.D. $20,844 FINBERG, ROBERT W., M.D. $0 KEATING, TODD A. $45,193 O'BRIEN, JOHN G. $0 SUBTOTAL EXECUTIVES $101,413 KEY EMPLOYEES ANDERSON, MILTON C. $0 BLUTE, MICHAEL, M.D. $0 BRENCKLE, GEORGE, PH.D. $32,290 BOLLAND ESHGHI, KATHERINE $0 CYR, JAMES P. $0 DALEY, JENNIFER, M.D. $36,904 DIAMOND, VICTORIA $47,362 ETTINGER, WALTER H., M.D. $70,554 FISHER, BARBARA $26,121 HUDLIN, MARGARET, M.D. $0 HYLKA, SHARON $35,958 KLUGMAN, ROBERT, M.D. $36,333 KRUGER, NANCY $27,847 PHILLIPS, ROBERT A., M.D. $70,541 RANDOLPH, JOHN $0 SUBTOTAL KEY EMPLOYEES $383,910 TOTAL - ALL $485,323 SUPPLEMENTAL INFORMATION PART III OFFICERS, DIRECTORS AND HIGHEST COMPENSATED EMPLOYEES THAT RECEIVE COMPENSATION FROM UNRELATED ORGANIZATION FOR SERVICES: THE OFFICERS, DIRECTORS AND HIGHEST COMPENSATED EMPLOYEES LISTED IN PART II THAT RECEIVED COMPENSATION FROM AN UNRELATED ORGANIZATION WERE PAID FOR THEIR SERVICES RELATED TO MEDICAL RESEARCH, EDUCATION OF MEDICAL STUDENTS AND RESIDENT TRAINING. AMOUNTS INCLUDE THEIR BASE COMPENSATION AND DEFERRED COMPENSATION FOR CALENDAR YEAR 2012. THE NAME OF THE UNRELATED ORGANIZATION IS UMASS MEDICAL SCHOOL. NAME TOTAL COMPENSATION FINBERG, ROBERT W., M.D. $297,641 TOTAL COMPENSATION FROM UNRELATED ORGANIZATION $297,641 PART II - DISCLOSURES 1) DURING CY12 THE MAJORITY OF THE AMOUNT REPORTED IN JOHN O'BRIEN'S COLUMN C - COMPENSATION ($2,733,454) WAS DUE TO A PAYOUT OF RETIREMENT FUNDS REPRESENTING THE CULMINATION OF MANY YEARS OF RETIREMENT CONTRIBUTIONS, WHICH WERE PREVIOUSLY REPORTED AS DEFERRED COMPENSATION IN THOSE PRIOR YEARS. 2) JOHN O'BRIEN'S RETIREMENT AND OTHER DEFERRED COMPENSATION AMOUNT INCLUDES A CONTINGENT DEFERRED COMPENSATION ACCRUAL OF $626,633 WHICH REMAINS THE PROPERTY OF UMASS MEMORIAL UNTIL THE TERMS OF THE DEFERRED AGREEMENT IS FULFILLED. 3) THE ABOVE DIRECTORS RECEIVE NO COMPENSATION FOR THEIR ROLE AS DIRECTORS. ALL COMPENSATION RECEIVED RELATES TO THEIR POSITION AS A PHYSICIAN/ADMINISTRATOR. ROBERT KLUGMAN MD KEY EMPLOYEE 209777 RENTAL OF PROPERTY - EXPENSE 0 ERIC W DICKSON MD BOD - PARENT, MED CTR, MED GRP, VENTURES, CRIR, CMMIC 130000 INDEPENDENT CONTRACTOR ARRANGEMENT 0 WILLIAM F SULLIVAN SR BOD - CMMIC, LABS, VENTURES, CRIR 254656 INDEPENDENT CONTRACTOR ARRANGEMENT 0 JOHN BUDD BOD - PARENT, MED CTR, LABS, VENTURES, CRIR, CMMIC 586332 INDEPENDENT CONTRACTOR ARRANGEMENT 0 KATHLEEN HYLKA UMM CAPITAL PLANNING, FAMILY MEMBER OF SHARON HYLKA, KEY EMPLOYEE 98045 EMPLOYMENT ARRANGEMENT 0 X 1256 32356 FMV/SELL PRICE 0 1 1 THIRD PARTY USE: PART I, LINE 32B: UMASS MEMORIAL HEALTH CARE, INC. UTILIZES THE SERVICES OF UMASS MEMORIAL FOUNDATION, INC. TO SOLICIT DONOR CONTRIBUTIONS, ON OCCASION, THE ORGANIZATION RECEIVES GIFTS OF PUBLICLY TRADED STOCK. ALL GIFTS OF PUBLICLY TRADED STOCK ARE IMMEDIATELY SOLD UPON RECEIPT THROUGH AN INVESTMENT SERVICES FIRM. FORM 990, PART VI, SECTION A, LINE 2 UMMHC 2012 BUDD, JOHN (BOARD MEMBER) HAS BUSINESS RELATIONSHIPS WITH PAUL D'ONFRO & ARTHUR BERGERON. PHILLIPS, ROBERT (KEY EMPLOYEE) HAS A FAMILY RELATIONSHIP WITH JULIA ANDRIENI FORM 990, PART VI, SECTION A, LINE 6 THERE ARE NO CLASSES OF DIRECTORS. THE VOTING RIGHTS OF EACH MEMBER'S BOARD ARE ABSOLUTE. FORM 990, PART VI, SECTION A, LINE 7A THE MAJORITY OF ENTITIES IN THE CONSOLIDATED GROUP HAVE A SOLE MEMBER (WHICH IS ALSO WITHIN THE CONSOLIDATED GROUP) THAT ELECTS THE BOARD OF TRUSTEES. THERE ARE NO CLASSES OF TRUSTEES. THE MAJORITY OF THE ENTITIES RESERVE TO THE MEMBER THE POWER TO REMOVE TRUSTEES, TO FILL VACANCIES, AND TO INCREASE OR DECREASE THE SIZE OF THE BOARD. FORM 990, PART VI, SECTION A, LINE 7B THE MAJORITY OF THE ENTITIES IN THE CONSOLIDATED GROUP HAVE A SOLE MEMBER (WHICH IS ALSO WITHIN THE CONSOLIDATED GROUP) WITH THE RIGHT TO APPROVE OR RATIFY DECISIONS OF THE ENTITY, WHICH IS EXERCISED BY THAT MEMBER'S BOARD OF TRUSTEES. THERE ARE NO CLASSES OF TRUSTEES OR MEMBERS. THUS, THE VOTING RIGHTS OF A MEMBER BOARD ARE ABSOLUTE. GENERALLY, THE SOLE MEMBER OF EACH ENTITY RESERVES THE POWER TO APPROVE MAJOR TRANSACTIONS; TO MERGE, CONSOLIDATE OR LIQUIDATE THE CORPORATION'S ASSETS; TO ADOPT ANNUAL OPERATING AND CAPITAL BUDGETS AND AMENDMENTS; TO ENTER INTO LOAN AGREEMENTS AND/OR GUARANTIES; TO APPOINT AND/OR ELECT THE PRESIDENT AND/OR CEO; TO ELECT AND/OR APPOINT AND REMOVE TRUSTEES, FILL VACANCIES, TO INCREASE OR DECREASE THE SIZE OF THE BOARD; AND TO APPROVE UNBUDGETED EXPENDITURES. FORM 990, PART VI, SECTION B, LINE 11 SECTIONS OF THE CORE FORM 990 RELATED TO EXECUTIVE COMPENSATION AND SCHEDULE J ARE REVIEWED IN DETAIL WITH THE ORGANIZATION'S COMPENSATION COMMITTEE OF THE BOARD. THE COMPLIANCE COMMITTEE OF THE BOARD REVIEWS ALL CONTENT ASSOCIATED WITH SCHEDULE L. THE AUDIT COMMITTEE OF THE BOARD REVIEWS THE FORM 990, INCLUDING THE ABOVE SCHEDULES AND RECOMMENDS THE FORM 990 TO THE FULL BOARD FOR APPROVAL. THE FULL BOARD IS GIVEN ACCESS TO THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY REQUIRES BOARD MEMBERS AND MANAGEMENT TO COMPLETE ANNUAL DISCLOSURE STATEMENTS AND, TO UPDATE THESE DISCLOSURE STATEMENTS FOR SIGNIFICANT CHANGES IN THEIR OUTSIDE GOVERNANCE AND PROFESSIONAL ACTIVITIES OR, FINANCIAL RELATIONSHIPS AS APPROPRIATE. ADDITIONALLY, ALL TRANSACTIONS INVOLVING BOARD MEMBERS OR MANAGEMENT AND THE ORGANIZATION ARE REQUIRED TO BE APPROVED BY THE COMPLIANCE COMMITTEE OF THE BOARD AND, THERE IS ACTIVE MONITORING AND COMMUNICATION TO ENSURE INDIVIDUALS WITH OUTSIDE RELATIONSHIPS DO NOT INAPPROPRIATELY PARTICIPATE IN BUSINESS DECISIONS OF THE ORGANIZATION, PURCHASING OR RESEARCH DECISIONS. FORM 990, PART VI, SECTION B, LINE 15 AT UMASS MEMORIAL, ALL COMPENSATION MATTERS FOR THE CEO AND SENIOR EXECUTIVES THROUGHOUT THE SYSTEM (INCLUDING ALL "DISQUALIFIED PERSONS") ARE GOVERNED AND OVERSEEN BY THE BOARD OF TRUSTEES OF THE PARENT. THE BOARD APPROVED A COMPENSATION PHILOSOPHY THAT GOVERNS ALL SUCH DECISIONS. THE PHILOSOPHY INCLUDES THE OBJECTIVES OF THE PROGRAM, COMPONENTS OF EXECUTIVE COMPENSATION, THE RELEVANT MARKET, POSITIONING IN THE MARKET, FACTORS CONSIDERED IN SETTING EXECUTIVE COMPENSATION AND THE IMPORTANCE OF TYING SUCH COMPENSATION TO PERFORMANCE. THE BOARD ESTABLISHED A COMPENSATION COMMITTEE, MADE UP OF DISINTERESTED TRUSTEES, WHO ARE GIVEN THE AUTHORITY TO ESTABLISH COPMENSATION FOR ALL SENIOR EXECUTIVES, WITHIN THE PARAMETERS OF THE PHILOSOPHY, AND WITH FULL AND COMPLETE REPORTING TO THE FULL BOARD. THE COMPENSATION COMMITTEE PERFORMS ITS WORK PURSUANT TO ITS CHARTER AND A COPMENSATION POLICY THAT ESTABLISHES THE PROCESS THE COMMITTEE WILL FOLLOW IN REVIEWING AND APPROVING EXECUTIVE COMPENSATION EACH YEAR. THE COMMITTEE ENSURES THAT ITS PROCESS MEETS THE REBUTABLE PRESUMPTION OF REASONABLENESS ESTABLISHED BY THE IRS. IN ORDER TO ASSIST THE COMMITTEE IN ITS RESPONSIBILITIES, THE COMPENSATION COMMITTEE HIRES INDEPENDENT, OUTSIDE COMPNESATION CONSULTANTS TO ADVICE THE COMMITTEE AND THE BOARD ON THE REASONABLENESS OF OVERALL EXECUTIVE COMPENSATION PROGRAM, INCLUDING COMPENSATION OF THE SPECIFIC EXECUTIVES. THESE CONSULTANTS REPORT DIRECTLY TO THE COMMITTEE AND NOT TO MANAGEMENT. THE COMMITTEE WORKS WITH THESE CONSULTANTS, AND WITH LEGAL COUNSEL, TO ENSURE THAT ALL COMPENSATION PAID, AS WELL AS THE PROCESS FOLLOWED TO DETERMINE SUCH COMPENSATION, IS REASONABLE, MEETS ALL REGULATORY REQUIREMENTS AND IS COMPETITIVE WITH THE RELEVANT MARKET. FORM 990, PART VI, SECTION C, LINE 19 UMASS MEMORIAL MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC AS REQUIRED BY APPLICABLE STATE AND FEDERAL LAWS, AND BY REQUEST ON A CASE-BY-CASE BASIS. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: CHANGE IN BENEFICIAL INTEREST IN TRUSTS -267,620. MISCELLANEOUS 6,977. NET ASSETS RELEASED FROM RESTRICTIONS FOR OPERATIONS 2,410,342. TEMPORARY RESTRICTED EXPENDITURES -4,378,319. TRANSFERS FROM RELATED PARTIES 58,412,717. PAGE 12, PART XI, LINE 2C THE ORGANIZATION'S FINANCIAL STATEMENTS WERE AUDITED BY AN INDEPENDENT ACCOUNTING FIRM ON A CONSOLIDATED BASIS. THE ORGANIZATION HAS AN AUDIT COMMITTEE RESPONSIBLE FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AS WELL AS THE SELECTION OF AN INDEPENDENT ACCOUNTING FIRM. UMASS MEMORIAL FOUNDATION INC 333 SOUTH STREET SHREWSBURY MA 01545 043108190 FUNDRAISING SUPPORT MA 501(C)(3) 11C N/A 0 HEALTH ALLIANCE REALTY CORPORATION 60 HOSPITAL ROAD LEOMINSTER MA 01473 042560754 REAL ESTATE MANAGEMENT MA 501(C)(2) N/A N/A 0 UMASS MEMORIAL INVESTMENT PARTNERSHIP LLP ONE BIOTECH PARK 365 PLANTATION ST WORCESTER MA 01605 043530755 INVESTMENT MANAGEMENT MA N/A EXCLUDED 514 42700567 424244029 0 -423 1 1.00000 UMASS MEMORIAL MARLBOROUGH MRI OF MARLBOROUGH LLC 157 UNION STREET MARLBOROUGH MA 01752 202293995 MAGNETIC RESONANCE IMAGING MA MARLBOROUGH HOSPITAL RELATED 554282 337933 0 0 0.56000 UMASS MEMORIAL HEALTH ALLIANCE MRI CENTER LLC 60 HOSPITAL ROAD LEOMINSTER MA 01453 043561571 MAGNETIC RESONANCE IMAGING MA N/A RELATED 989029 1245441 0 0 0.60000 COMMONWEALTH PROFESSIONAL ASSURANCE CO LTD PO BOX 1051 GT GRAND CAYMAN CJ 980226143 INSURANCE CJ N/A C 6015243 174115169 1.00000 0 MEMORIAL OFFICE CONDOMINIUM TRUST 306 BELMONT STREET WORCESTER MA 01604 046616900 CONDOMINIUM ASSOCIATION MA UMASS MEMORIAL MEDICAL CENTER INC T 484255 0.53690 0 BIO-LAB INC 215 WEST STREET MILFORD MA 01757 042708828 CLINICAL LABORATORY MA UMASS MEMORIAL HEALTH VENTURES INC S 699142 1059405 1.00000 0 116 BELMONT ST INC CO APPLETON CORP 57 SUFFOLK STREET HOLYOKE MA 01040 042717865 CONDOMINIUM ASSOCIATION MA UMM REALTY C 465 97010 0.63040 0 0 1 1 0 0 0 0 0 0 1 0 1 0 1 0 1 1 0 0 COMMONWEALTH PROFESSIONAL ASSURANCE COMPANY LTD L 24387201 FAIR VALUE UMASS MEMORIAL MEDICAL CENTER INC B 2091975 FAIR VALUE UMASS MEMORIAL MEDICAL GROUP INC Q 83803 FAIR VALUE UMASS MEMORIAL MEDICAL GROUP INC L 2895540 FAIR VALUE UMASS MEMORIAL MEDICAL GROUP INC N 814423 FAIR VALUE WING MEMORIAL HOSPITAL CORPORATION Q 300000 FAIR VALUE UMASS MEMORIAL REALTY INC J 4411002 FAIR VALUE UMASS MEMORIAL HEALTH VENTURES INC P 367632 FAIR VALUE UMASS MEMORIAL REALTY INC P 369228 FAIR VALUE MARLBOROUGH HOSPITAL P 2039339 FAIR VALUE THE CLINTON HOSPITAL ASSOCIATION P 1388103 FAIR VALUE WING MEMORIAL HOSPITAL CORPORATION P 2192554 FAIR VALUE WING MEMORIAL HOSPITAL CORPORATION N 94515 FAIR VALUE CENTRAL NEW ENGLAND HEALTH ALLIANCE INC P 3526765 FAIR VALUE UMASS MEMORIAL MEDICAL CENTER INC P 145815172 FAIR VALUE UMASS MEMORIAL MEDICAL GROUP INC P 38719918 FAIR VALUE CENTRAL MASSACHUSETTS MAGNETIC IMAGING CENTER INC P 135084 FAIR VALUE COMMUNITY HEALTHLINK INC P 596650 FAIR VALUE COMMONWEALTH PROFESSIONAL ASSURANCE COMPANY LTD P 21365213 FAIR VALUE UMASS MEMORIAL MEDICAL CENTER INC C 58695581 FAIR VALUE