2024-11-07T15:39:31-06:00 2023-12-31 420714325 RSM US LLP 227 WEST FIRST STREET SUITE 700 DULUTH MN 55802 990 2023-01-01 823113322 RIVERWOOD MEDICAL PROPERTIES LLC RIVE 2189272121 200 BUNKER HILL DRIVE AITKIN MN 56431 CASEY JOHNSON CFO 2189272121 2024-10-31 1 1 JULIE BOYER P01278549 2187275025 2024-10-31 2023 2024-10-15 13:58:12Z CASEY JOHNSON 200 BUNKER HILL DRIVE AITKIN MN 56431 126000 0 X N/A X 2017 MN TO AID IN THE RENOVATION AND EXPANSION OF A TAX-EXEMPT HOSPITAL. 1 0 0 0 0 0 0 0 126000 126000 0 0 0 0 126000 126000 918 918 0 0 0 0 0 0 0 560450 560450 561368 561368 -435368 -435368 4605260 4169892 6126133 6126133 -1520873 -1956241 X TO AID IN THE RENOVATION AND EXPANSION OF A TAX-EXEMPT HOSPITAL 0 0 382246 918 126000 RIVERWOOD MEDICAL PROPERTIES, LLC ("RIVERWOOD") EXISTS TO SUPPORT CHARITABLE, EDUCATIONAL AND/OR SCIENTIFIC PURPOSES AS DEFINED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986. SPECIFICALLY, RIVERWOOD WILL FINANCE THE RENOVATION AND EXPANSION OF THE TAX-EXEMPT HOSPITAL KNOWN AS AITKIN COMMUNITY HOSPITAL DBA THE RIVERWOOD HEALTHCARE CENTER ("AITKIN HOSPITAL"), A PUBLIC CHARITY. THE EXISTING HOSPITAL HAS SURGICAL SERVICES, RADIOLOGY SERVICES, CHEMO SERVICES, BIRTHING SUITES, CARDIOPULMONARY REHAB AND A REHABILITATION CENTER. THE CLINIC AREA PROVIDES A FULL RANGE OF HEALTHCARE, DIAGNOSTIC AND TREATMENT SERVICES ALONG WITH SPECIALTY CLINIC SERVICES. THE REHABILITATION PROJECT WILL INCLUDE RENOVATING, EXPANDING, AND EQUIPPING THE EXISTING 25-BED CRITICAL ACCESS HOSPITAL AND CLINIC TO PROVIDE ADDITIONAL EXAM ROOMS, MEDICAL TEAM MEETING SPACE, REHABILITATION SPACE, AND DOCTOR OFFICES FOR NEPHROLOGY, ORTHOPEDICS, CARDIOLOGY, DERMATOLOGY, OBSTETRICS AND GYNECOLOGY. ADDITIONALLY, THE REHABILITATION PROJECT WILL INCLUDE THE RENOVATION OF A NINE-CHAIR KIDNEY DIALYSIS UNIT AND AN ISOLATION UNIT. THE RENOVATION OF AITKIN HOSPITAL WILL ENABLE THE HOSPITAL TO PROVIDE EXPANDED AND IMPROVED CARE TO THE SURROUNDING RURAL COMMUNITY. 382246 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 1 0 0 0 0 0 1 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 X JUDY TURNER 2189272121 200 BUNKER HILL DRIVE AITKIN MN 56431 CASEY JOHNSON CFO 1.00 39.00 X X 0 216793 44562 0 216793 44562 0 0 1 0 0 RENTAL INCOME 531120 126000 126000 126000 126000 126000 0 0 918 918 15000 15000 100 100 222640 155678 66962 322710 225650 97060 561368 382246 179122 0 5827828 1724639 4486442 4103189 118818 66703 4605260 4169892 6126133 6126133 6126133 6126133 X 0 0 0 0 -1520873 -1956241 -1520873 -1956241 4605260 4169892 -435368 0 X 0 0 0 X X 1 AITKIN COMMUNITY HOSPITAL 410745522 3 1 546268 0 1 546268 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 5827828 1724639 4103189 4103189 0 0 0 0 0 0 0 0 0 CASEY JOHNSON CFO 0 216748 0 0 0 45 0 9046 0 35516 0 261355 0 0 FORM 990, PART VI, SECTION A, LINE 6 AITKIN COMMUNITY HOSPITAL DBA RIVERWOOD HEALTHCARE CENTER IS THE SOLE MEMBER. THE ORGANIZATION SHALL NOT HAVE PRIVATE SHAREHOLDERS OR INDIVIDUALS AS MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B BOARD MEMBER REVIEWS WITH FINANCE MANAGER. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY APPLIES TO ITS MEMBER-MANAGER, STAFF AND COMMITTEE MEMBERS. DUTY TO DISCLOSE - IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF HIS OR HER FINANCIAL INTEREST AND MUST BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE MEMBER-MANAGER AND MEMBERS OF COMMITTEES WITH MEMBER-MANAGER-DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. DETERMINING WHETHER A CONFLICT OF INTEREST EXISTS - AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. 3. PROCEDURES FOR ADDRESSING THE CONFLICT OF INTEREST A. AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE COMMITTEE MEETING, BUT AFTER SUCH PRESENTATION, HE/SHE SHALL LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT THAT RESULTS IN THE CONFLICT OF INTEREST. B. THE MEMBER-MANAGER OR COMMITTEE SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. C. AFTER EXERCISING DUE DILIGENCE, THE MEMBER-MANAGER OR COMMITTEE SHALL DETERMINE WHETHER RIVERWOOD CAN OBTAIN A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT WITH REASONABLE EFFORTS FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. D. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY ATTAINABLE UNDER CIRCUMSTANCES THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST, THE MEMBERMANAGER OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED MEMBERS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN RIVERWOOD'S BEST INTEREST AND FOR ITS OWN BENEFIT AND WHETHER THE TRANSACTION IS FAIR AND REASONABLE TO RIVERWOOD AND SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT IN CONFORMITY WITH SUCH DETENNINATION. 4. VIOLATIONS OF THE CONFLICTS OF INTEREST POLICY A. IF THE MEMBER-MANAGER OR COMMITTEE HAS REASONABLE CAUSE TO BELIEVE THAT A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE MEMBER OF THE BASIS FOR SUCH BELIEF AND AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. B. IF, AFTER HEARING THE RESPONSE OF THE MEMBER AND MAKING SUCH FURTHER INVESTIGATION AS MAY BE WARRANTED IN THE CIRCUMSTANCES, THE MEMBER-MANAGER OR COMMITTEE DETERMINES THAT THE MEMBER HAS IN FACT FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. ANNUAL STATEMENTS - EACH MEMBER OF A COMMITTEE WITH MEMBER-MANAGER-DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS THAT SUCH PERSON- A. HAS RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY, B. HAS READ AND UNDERSTANDS THE POLICY, C. HAS AGREED TO COMPLY WITH THE POLICY, AND D. UNDERSTANDS THAT RIVERWOOD IS A CHARITABLE ORGANIZATION AND THAT IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. PERIOD REVIEWS - TO ENSURE THAT RIVERWOOD OPERATES IN A MANNER CONSISTENT WITH ITS CHARITABLE PURPOSES AND THAT IT DOES NOT ENGAGE IN ACTIVITIES THAT COULD JEOPARDIZE ITS STATUS AS AN ORGANIZATION EXEMPT FROM FEDERAL INCOME TAX, PERIODIC REVIEWS SHALL BE CONDUCTED IF APPROPRIATE. THE PERIODIC REVIEWS SHALL, AT A MINIMUM, INCLUDE THE FOLLOWING SUBJECTS: A. WHETHER COMPENSATION ARRANGEMENTS AND BENEFITS ARE REASONABLE AND ARE THE RESULT OF ARM'S-LENGTH BARGAINING; AND B. WHETHER PARTNERSHIP AND JOINT VENTURE ARRANGEMENTS AND ARRANGEMENTS WITH MANAGEMENT SERVICE ORGANIZATIONS CONFORM TO WRITTEN POLICIES, ARE PROPERLY RECORDED, REFLECT REASONABLE PAYMENTS FOR GOODS AND SERVICES, FM1HER RIVERWOOD'S CHARITABLE PURPOSES AND DO NOT RESULT IN INUREMENT OR IMPERMISSIBLE PRIVATE BENEFIT. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. AITKIN COMMUNITY HOSPITAL DBA RIVERWOOD HEALTHCARE CENTER 200 BUNKER HILL DRIVE AITKIN MN 56431 410745522 HOSPITAL MN 501(C)(3) LINE 3 N/A 0 RIVERWOOD HEALTHCARE CENTER & COMMUNITY HOSPITAL FOUNDATION 200 BUNKER HILL DRIVE AITKIN MN 56431 411738787 SUPPORT MN 501(C)(3) LINE 12A, I RIVERWOOD HEALTHCARE CENTER 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 1 1