2011-05-10T11:28:06-05:00 2010-06-30 990 2009-07-01 232087514 THE READING HOSPITAL & MEDICAL CENTER SELF-INSURANCE FUND READ 6109888114 PO BOX 6052 READING PA 196126052 RICHARD W JONES 6109888114 2011-05-09 false 2011-05-10 2009 2016-02-24 21:20:13Z SCOTT R WOLFE SIXTH AVE SPRUCE ST WEST READING PA 19611 4877261 false X X 1978 PA TO SUPPORT THE OPERATIONS OF THE READING HOSPITAL & MEDICAL CENTER. 25 21 0 21 0 0 0 365977 406686 0 365977 406686 0 0 0 0 0 52500 0 52500 0 313477 406686 12385691 12716327 0 12385691 12716327 TO SUPPORT THE OPERATIONS OF THE READING HOSPITAL & MEDICAL CENTER. false true PAYMENTS OF GENERAL AND PROFESSIONAL LIABILITY CLAIMS THE SELF-INSURANCE FUND IS A RESERVE USED EXCLUSIVELY FOR THE ASSOCIATED COSTS OF PROFESSIONAL AND GENERAL LIABILITY CLAIMS BROUGHT AGAINST THE READING HOSPITAL & MEDICAL CENTER, A 501 (C)(3) ORGANIZATION. IN FISCAL 2010 ALL CLAIMS WERE PAID DIRECTLY BY THE READING HOSPITAL & MEDICAL CENTER AND ARE REPORTED ON ITS FORM 990. true false false false false false false false false false false false false false false false false false false false false false false true false false false false false false false false false false false false false true false false false true 0 0 0 false false false false false false false false false false 25 21 false true false false false true true true true false false true true true true true true true true false X RICHARD W JONES CFO 6109888114 SIXTH AVE SPRUCE ST WEST READING PA 19611 X SCOTT R WOLFE 1.00 X X 0 1729645 44151 BARBARA ARNER 1.00 X 0 0 0 THEODORE AUMAN 1.00 X 0 0 0 MARY ELLEN BATMAN 1.00 X 0 0 0 BRUCE BENGSTON 1.00 X 0 0 0 ROBERT J GIBBLE 1.00 X 0 0 0 VICTOR HAMMEL 1.00 X 0 0 0 JULIA KLEIN 1.00 X 0 0 0 CHRIST G KRARAS 1.00 X 0 0 0 EDWARD T LENTZ 1.00 X 0 0 0 TERRENCE MCGLINN 1.00 X 0 0 0 MARGARET S MCSHANE 1.00 X 0 0 0 RICHARD M PALMER JR 1.00 X 0 0 0 JOHN ROLAND ESQ 1.00 X 0 0 0 ELIZABETH ROTHERMEL 1.00 X 0 0 0 JAY S SIDHU 1.00 X 0 0 0 C THOMAS WORK ESQ 1.00 X X 0 0 0 MICHAEL AVEDISSIAN MD 1.00 X 0 0 0 BRENT WAGNER MD 1.00 X 0 0 0 P MICHAEL EHLERMAN 1.00 X X 0 0 0 ELIZABETH EHLICH 1.00 X 0 0 0 SAMUEL A MCCULLOUGH 1.00 X 0 0 0 MARLIN MILLER JR 1.00 X 0 0 0 DAVID L THUN 1.00 X 0 0 0 MT BANK 1.00 X 0 78916 0 STEVEN I FINKEL 1.00 X 0 688736 51331 CHARLES B SULLIVAN 1.00 X 0 108050 0 2605347 95482 true true false 402245 402245 4475016 4470575 4441 4441 4441 406686 406686 0 0 0 0 12385691 12716327 12385691 12716327 0 0 X 12385691 12716327 12385691 12716327 12385691 12716327 X false false false X X X false false false THE READING HOSPITAL & MEDICAL CENTER 231352204 3 true true true 0 1 X X X X X X false true false false false false false false false SCOTT R WOLFE 545929 85250 1098466 44151 1773796 STEVEN I FINKEL 352102 67000 269634 51331 740067 CHARLES B SULLIVAN 108050 108050 SEVERANCE, NONQUALIFIED, AND EQUITY-BASED PAYMENTS SCHEDULE J, PAGE 1, PART I, LINE 4 SCOTT R WOLFE 0 1,088,776 0 STEVEN I FINKEL 0 260,544 0 EXPLANATION ON VOLUNTEERS AND TYPES OF SERVICES OR BENEFITS FORM 990, PAGE 1, PART I, LINE 6 ALL VOLUNTEERS ARE UNCOMPENSATED MEMBERS OF THE BOARD OF DIRECTORS. ANY SIGNIFICANT CHANGES IN CONDUCT FOR PROGRAM SERVICES FORM 990, PAGE 2, PART III, LINE 3 THE METHOD FOR PAYING CLAIMS IS SIGNIFICANTLY CHANGED. CLAIMS PAID ARE BEING MADE DIRECTLY FROM THE READING HOSPITAL & MEDICAL CENTER RATHER THAN FROM THE TRUST FUND. IN FISCAL 2010 CLAIMS PAID AMOUNTED TO 998,000. THE CLAIMS PAID EXPENSE IS REPORTED ON THE READING HOSPITAL & MEDICAL CENTER'S FORM 990. MANAGEMENT DELEGATED FORM 990, PAGE 6, PART VI, LINE 3 THE MANAGEMENT OF THE TRUST IS CONDUCTED BY M&T BANK IN ACCORDANCE WITH AND SUBJECT TO THE CONDITIONS OF THE TRUST AGREEMENT. THE TRUST AGREEMENT PROVIDES THAT THE READING HOSPITAL & MEDICAL CENTER'S SELF-INSURANCE PROGRAM ADMINISTRATOR IS EMPOWERED TO DIRECT THE TRUSTEE TO MAKE PAYMETS FROM THE TRUST ESTATE TO SUCH PERSONS, IN SUCH MANNER, AND IN SUCH AMOUNTS AS SHALL BE REQUIRED BY LAW. ELECTION OF MEMBERS AND THEIR RIGHTS FORM 990, PAGE 6, PART VI, LINE 7A THE SOLE MEMBER OF THE CORPORATION (HEREIN REFERRED TO AS "MEMBER") SHALL BE THE READING HOSPITAL. THE MANAGEMENT OF THE CORPORATION SHALL BE VESTED IN THE BOARD OF DIRECTORS ELECTED BY THE MEMBER. DECISIONS SUBJECT TO APPROVAL OF MEMBERS FORM 990, PAGE 6, PART VI, LINE 7B THE MANAGEMENT OF THE CORPORATION SHALL BE VESTED IN THE BOARD OF DIRECTORS ELECTED BY THE MEMBER WHO IS THE READING HOSPITAL. ORGANIZATION'S PROCESS USED TO REVIEW FORM 990 FORM 990, PAGE 6, PART VI, LINE 11 THE FORM 990 IS POSTED ON A WEBSITE FOR BOARD MEMBERS. MEMBERS ARE ALERTED TO INFORMATION AND NOTICES. A COPY OF THE 990 IS MADE AVAILABLE TO ANY BOARD MEMBER UNABLE TO VIEW THIS SITE. ENFORCEMENT OF CONFLICTS POLICY FORM 990, PAGE 6, PART VI, LINE 12C IT SHALL BE THE POLICY OF THE HOSPITAL AND CORRESPONDINGLY THE TRHMC SIF TO REQUIRE EACH BOARD MEMBER TO SUBMIT IN WRITING TO THE CHIEF EXECUTIVE OFFICER A LIST OF BUSINESS OR OTHER ORGANIZATIONS OF WHICH THE MEMBER OR MEMBERS SPOUSE IS AN OFFICER, DIRECTOR, MEMBER EMPLOYEE OR OWNER (10% OR GREATER SHARE) WITH WHICH THE COMPANY MIGHT REASONABLY ENTER INTO A RELATIONSHIP OR A TRANSACTION IN WHICH THE BOARD MEMBER WOULD HAVE CONFLICTING INTERESTS. EACH YEAR A COPY OF THE WRITTEN STATEMENT WILL BE SENT TO THE BOARD MEMBER FOR UPDATING ANDRESUBMISSION AND BY WHICH THE BOARD MEMBER SHALL CONFIRM HIS AWARENESS OF THIS POLICY. COMPENSATION PROCESS FOR TOP OFFICIAL FORM 990, PAGE 6, PART VI, LINE 15A THE READING HOSPITAL'S BOARD OF DIRECTORS HAS DULY APPOINTED AN EXECUTIVE COMPENSATION COMMITTEE (THE "COMMITTEE"), WHICH IS RESPONSIBLE FOR THE REVIEW AND APPROVAL OF ALL COMPENSATION AND BENEFITS PROVIDED TO THE HOSPITAL'S EXECUTIVE MANAGEMENT. THE COMMITTEE HAS ADOPTED A WRITTEN EXECUTIVE COMPENSATION PHILOSOPHY STATEMENT AND AN EXECUTIVE COMPENSATION COMMITTEE CHARTER GOVERNING THE WORK AND REVIEW PROCESS OF THE COMMITTEE. THE COMMITTEE FOLLOWS THE PROCEDURES DESCRIBED IN THE PHILOSOPHY STATEMENT AND THE CHARTER WHEN IT REVIEWS AND APPROVES THE COMPENSATION AND EMPLOYEE BENEFITS PROVIDED TO THE HOSPITAL'S SENIOR MANAGEMENT, INCLUDING THE CHIEF EXECUTIVE OFFICER AND THE CHIEF FINANCIAL OFFICER. THE COMMITTEE'S REVIEW ANALYZES EVERY ELEMENT OF COMPENSATION, INCLUDING CURRENT AND DEFERRED COMPENSATION, AND BENEFITS, INCLUDING QUALIFIED AND NON-QUALIFIED BENEFITS. THE COMMITTEE CONDUCTS ITS REVIEW AND APPROVAL PROCESS AT LEAST ANNUALLY, AND APPROVES COMPENSATION AND BENEFITS ONLY TO THE EXTENT THAT THE COMMITTEE HAS CONCLUDED THAT THE COMPENSATION AND BENEFITS CONSTITUTE NO MORE THAN REASONABLE COMPENSATION FOR EACH EXECUTIVE. THE COMMITTEE CONSISTS ENTIRELY OF DISINTERESTED MEMBERS OF THE BOARD, AND THE COMMITTEE WORKS WITH AN INDEPENDENT COMPENSATION CONSULTANT TO PREPARE AND REVIEW IN ADVANCE COMPREHENSIVE DATA SHOWING THE COMPENSATION PROVIDED BY SIMILARLY SITUATED ORGANIZATIONS FOR FUNCTIONALLY SIMILAR POSITIONS. THE COMMITTEE ALSO PREPARES A TIMELY AND THOROUGH WRITTEN RECORD OF ITS DELIBERATIONS AND CONCLUSIONS. AS A RESULT, THE COMMITTEE'S REVIEW PROCESS IS DESIGNED TO SATISFY THE PROCEDURAL CRITERIA NECESSARY TO QUALIFY FOR THE REBUTTABLE PRESUMPTION OF REASONABLENESS UNDER THE FEDERAL INCOME TAX LAW INTERMEDIATE SANCTIONS RULES. COMPENSATION PROCESS FOR OFFICERS FORM 990, PAGE 6, PART VI, LINE 15B SAME RESPONSE AS LINE 15A. GOVERNING DOCUMENTS DISCLOSURE EXPLANATION FORM 990, PAGE 6, PART VI, LINE 19 THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. ADDITIONAL INFORMATION SCHEDULE O PART IV, LINE 12 AND PART XI, LINE 2B THE READING HOSPITAL & MEDICAL CENTER SELF INSURANCE TRUST WAS PART OF A CONSOLIDATED FINANCIAL STATEMENT AUDIT OF THE READING HOSPITAL AND ITS CONTROLLED ENTITIES. PART VI, SECTION B, 15 A & 15B - SIF DOES NOT COMPENSATE ANY OF ITS OFFICERS, DIRECTORS OR TRUSTEES FOOTNOTE TO FORM 990 FOR FISCAL YEAR ENDED JUNE 30, 2010 SCHEDULE J, PART II (1) THE READING HOSPITAL PROVIDES CERTAIN SUPPLEMENTAL RETIREMENT BENEFITS TO ITS OFFICERS AND KEY EMPLOYEES. THESE BENEFITS ARE PROVIDED THROUGH A NONQUALIFIED DEFERRED COMPENSATION PLAN., UNDER WHICH THE BENEFITS BEING EARNED ARE SUBJECT TO A "SUBSTANTIAL RISK OF FORFEITURE." THE SUPPLEMENTAL RETIREMNT BENEFITS ARE STRUCTED TO PROVIDE A RETENTION INCENTIVE THAT HAS BEEN DETERMINED BY THE COMPENSATION COMMITTEE OF THE HOSPITAL'S BOARD TO BE OF SUBSTANTIAL VALUE TO THE HOSPITAL. ACCORDINGLY, TO BECOME ENTITLED TO THE BENEFITS PROVIDED, EACH COVERED EMPLOYEE MUST MEET SUBSTANTIAL REQUIREMENTS RELATING TO FUTURE EMPLOYMENT AND A TWO-YEAR NONCOMPETITION COVENANT THAT REQUIRES REPAYMENT OF THE ENTIRE RETIREMENT BENEFIT TO THE HOSPITAL FOLLOWING MOST FORMS OF EMPLOYMENT TREMINATION IF THE EMPLOYEE COMPETES WITH THE HOSPITAL. UNTIL THOSE REQUIREMENTSARE SATISIFIED, AN EMPLOYEE IS NOT ENTITLED TO THESE AMOUNTS. FOR EXAMPLE, IF MR. WOLFE WERE TO HAVE TERMINATED EMPLOYMENT VOLUNTARILY IN THE YEAR TO WHICH THIS RETURN APPLIES, THE SUPPLEMENTAL RETIREMENT BENEFITS HE HAS EARNED WOULD NOT HAVE BEEN PAID OUT. IT SHOULD ALSO BE NOTED THAT THESE SUPPLEMENTAL RETIREMENT BENEFITS ARE PART OF A RETIREMENT PROGRAM THAT PROVIDES RETIREMENT INCOME FOR ALL YEARS OF SERVICE THAT THE EMPLOYEE PROVIDES TO THE HOSPITAL. ANY RETIREMENT BENEFITS SHOULD BE VIEWED AS APPLYING TO THE ENTIRE LENGTH OF THE EMPLOYEE'S SERVICE FOR THE HOSPITAL (FOR EXAMPLE, MR. SULLIVAN HAD 32 YEARS OF SERVICE, MR. WOLFE HAS HAD 18 YEARS OF SERVICE, AND MR. FINKLE HAS HAD 31 YEARS OF SERVICE, WITH THE HOSPITAL). THE COMPENSATION COMMITTEE APPROVES ALL RETIREMENT BENEFITS, TOGETHER WITH ALL OTHER FORMS OF COMPENSATION AND BENEFITS FOR THESE AND OTHER EXECUTIVES, IN A MANNER INTENDED TO QUALIFY FOR THE REBUTTABLE PRESUMPTION OF REASONABLENESS UNDER THE INTERMEDIATE SANCTIONS RULES OF FEDERAL INCOME TAX LAW. THE FOLLOWING LISTED INDIVIDUALS PARTICIPATED IN THE SUPPLEMENTAL PLAN IN 2009: CHARLES B. SULLIVAN, SCOTT R. WOLFE AND STEVEN I. FINKEL. THE AMOUNT OF ADDITIONAL BENEFIT EARNED, BUT NEITHER VESTED NOR PAID OUT, IS INCLUDED IN THE AMOUNTS REPORTED ON SCHEDULE J, PART II, COLUMN (C), AND THE AMOUNT OF ADDITIONAL BENEFIT THAT BECAME TAXABLE DUE TO BECOMING VESTED IN 2009 (AND THAT WAS INCLUDED ON THE INDIVIDUAL'S FORM W-2 FOR 2008) IS INCLUDED IN THE AMOUNTS REPORTED ON SCHEDULE J, PART II, COLUMN (B)III). 990 PART VI, SECTION C, LINE 19 THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. THE READING HOSPITAL SIXTH AVE SPRUCE ST WEST READING PA 19611 232201344 SUPPORTING PA 501 11C N/A THE READING HOSPITAL & MEDICAL CEN SIXTH AVE SPRUCE ST WEST READING PA 19611 231352204 HEALTHCARE PA 501 3 N/A THE FRIENDS OF THE READING HOSPITAL SIXTH AVE SPRUCE ST WEST READING PA 19611 236026108 SUPPORTING PA 501 11B N/A THE RDG HOSPITAL & MED CENTER WORKE SIXTH AVE SPRUCE ST WEST READING PA 19611 223054717 TRUST FUND PA 501 11B N/A READING PROFESSIONAL SERVICES SIXTH AVE SPRUCE ST WEST READING PA 19611 232266054 HEALTHCARE PA 501 3 N/A THE RDG HOSPITAL MEDICAL GROUP SIXTH AVE SPRUCE ST WEST READING PA 19611 205095905 HEALTHCARE PA 501 3 N/A THE HIGHLANDS AT WYOMISSING 2000 CAMBRIDGE AVE WYOMISSING PA 19610 222790840 RETIREMENT PA 501 9 N/A THE READING HOSPITAL SURGICENTER AT 2603 KEISER BLVD WYOMISSING PA 19610 582682467 SURGERY DE N/A false false MC REALTY CORP 627 NORTH FOURTH STREET READING PA 19601 232607292 REALESTATE PA N/A false false false false false false false false false false false false false false false true false false