| Form 990, Part III, Line 4d: Other Program Services Description |
OTHER PROGRAM SERVICES 4: Laboratory Services (Adult & Peds) - Inpatient and outpatient services including clinical chemistry, blood bank, hematology, serology and microbiology. OTHER PROGRAM SERVICES 5: Other Patient Care Based Services totaled approximately $77 million in expenditures OTHER PROGRAM SERVICES 6: The Group Organization receives general expense reimbursements for Related Patient Care Services OTHER PROGRAM SERVICES 7: Faculty Practice: The organization operates a clinical practice activity (patient care) for the faculty of the Albany Medical College. 2014 experienced over 240,000 patient visits. OTHER PROGRAM SERVICES 8: Research - As a Medical College, the organization undertakes numerous research projects during the course of the year. The expenditures for activities specifically organized to provide research outcomes is approximately $13,000,000. OTHER PROGRAM SERVICES 9: Instruction - As an educational institution, the main function is to teach approximately 750 students. OTHER PROGRAM SERVICES 10: The organization has certain other Exempt Function Revenues which total approximately $1.3 million. OTHER PROGRAM SERVICES 11: Foundation: The Group Organization includes a Foundation, whose primary function is to raise funds for construction, research, support and endowment purposes for exempt organizations, including Albany Medical College, Albany Medical Center Hospital, Albany Medical Center, AMC Alumni Association, and Center for Donation and Transplant, via direct mail - community based programs, telethon, radiothon, special events - golf outings, dinners, etc., plus gift-in-kind (GIK) donations. |
| Form 990, Part VI, Line 11b: Form 990 Review Process |
The Board of Directors, through its Audit Committee, engages a prominent accounting firm, KPMG, to conduct a review of its tax return for compliance with IRS regulations. The Audit Committee engages KPMG as paid preparer to ensure accuracy of filings and raise for discussion issues or concerns that are considered significant. Issues or concerns are raised with management and brought to the attention of the Audit Committee throughout the year as warranted and required. Our process also includes a review of returns by senior management and a presentation and review of the returns at a meeting of the Audit Committee of the Board of Directors. |
| Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts |
All candidates for Board membership and Board Committee membership receive a copy of the conflict of interest policy and conflict of interest questionnaire for completion. Actual or potential conflicts reported are reviewed by the Committee on Audit & Compliance of the Board of Directors and appropriate action is taken to mitigate conflicts.Upon hire, all employees receive an employee manual which explains the conflict of interest policy and the requirement to report any actual or potential conflicts. All employees also receive refresher education regarding the policy and a reminder about the reporting requirement as part of their mandatory annual education. All employees are responsible for notifying Center management of any potential conflicts in addition to responding to requests for information if requested. Persons holding significant management positions receive a copy of the conflict of interest questionnaire for completion. Any conflicts which are reported or discovered are reviewed by the Corporate Compliance & Audit Dept. and appropriate action is taken to mitigate the conflict. Employees who violate the conflict of interest policy are subject to the institution's corrective action policies. |
| Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees |
The Compensation Committee of the Board of Directors ("Committee") establishes compensation for the President and Chief Executive Officer of the organization, all Executive Vice Presidents and other top management officials who report directly to the President and Chief Executive Officer, subject to approval by the Board of Directors. The Committee uses professional compensation advisors who are capable of rendering independent advice and independent market surveys. The Committee targets the market median (50th percentile) for cash compensation; benefit programs are intended to be competitive. After the compensation program is determined, the Committee-approved recommendation is forwarded to the Board of Directors for its consideration and approval, and that is contemporaneously substantiated. |
| Form 990, Part VI, Line 19: Other Organization Documents Publicly Available |
Documents are made available upon request. |
| Other Changes In Net Assets Or Fund Balances - Other Decreases |
Fair Value of Interest Rate Swaps = -$1895830 |
| Other Changes In Net Assets Or Fund Balances - Other Decreases |
Pension Related Changes = -$31615063 |
| Form 990 Part VII - Estimate of average hours to related organizations |
Hours reported for Board Members, Officers and Key Employees are average work hours related to this organization and its related organizations. Organizations included in this relationship are Albany Medical Center, Albany Medical Center Hospital, Albany Medical College, Albany Medical Center Foundation, Center for Donation and Transplant, and Kidskeller Inc. |
| Reasonable Cause Explanation |
The Albany Medical Center Group Organization was originally e-filed on 11/16/2015 but was rejected. An incident was opened with the IRS on 11/16/2015 and was assigned incident number IM169761. On 11/25/2015 the IRS advised the organization that the issues that caused the reject were being submitted for fix by revising the account and that resubmission could occur when the account was fixed. |
Attach to Form 990 or 990-EZ.