2024-09-09T09:32:35-04:00 2024-06-30 611189912 BUCKLES TRAVIS & HART PLLC PO BOX 4069 LEITCHFIELD KY 427554069 990 2023-07-01 610523298 GRAYSON COUNTY HOSPITAL FOUNDATION GRAY 2702593159 130 E MARKET ST LEITCHFIELD KY 42754 TREVOR RAY PRESIDENT 2708601127 2024-08-13 true true BRADLEY K TRAVIS P01224802 2702595604 2024-08-13 2023 2024-08-08 14:25:15Z DBA TWIN LAKES REGIONAL MEDICAL TREVOR RAY 130 E MARKET ST LEITCHFIELD KY 42754 836378 false X WWW.TLRMC.COM X 1956 KY TO PROVIDE QUALITY MEDICAL HEALTHCARE TO THE GRAYSON COUNTY, KENTUCKY AREA. 5 5 0 0 0 0 101245 319552 158888 516826 260133 836378 0 0 0 0 0 606878 323233 606878 323233 -346745 513145 8670057 9132072 1321678 1270548 7348379 7861524 X TO PROVIDE QUALITY MEDICAL HEALTHCARE TO THE GRAYSON COUNTY, KENTUCKY AREA. false false 322456 TWIN LAKES REGIONAL MEDICAL CENTER PROVIDES QUALITY MEDICAL HEALTH CARE SERVICES TO PATIENTS REGARDLESS OF RACE, CREED, SEX, NATIONAL ORIGIN, HANDICAP, AGE, OR THE ABILITY TO PAY. ALTHOUGH REIMBURSEMENT FOR SERVICES RENDERED IS CRITICAL TO THE OPERATION AND FINANCIAL STABILITY OF TWIN LAKES REGIONAL MEDICAL CENTER, IT IS RECOGNIZED THAT NOT ALL INDIVIDUALS POSSESS THE ABILITY TO PURCHASE ESSENTIAL MEDICAL SERVICES. IN KEEPING WITH OUR COMMITMENT TO SERVE ALL MEMBERS OF THIS AREA, THE HOSPITAL PROVIDES FREE CARE TO THE MOST INDIGENT OF PATIENTS AND WRITES OFF PORTIONS OF BILLS TO OTHER PATIENTS WHO HAVE DEMONSTRATED THE INABILITY TO PAY FOR ALL HEALTH CARE SERVICES RECEIVED. A LETTER OF INTENT WAS SIGNED ON APRIL 13, 2020 TO TRANSFER THE OPERATING ASSETS OF THE GRAYSON COUNTY HOSPITAL FOUNDATION, INC. (THE "HOSPITAL") AND THE TWIN LAKES MEDICAL FOUNDATION, INC. TO OWENSBORO HEALTH, INC., A NOT FOR PROFIT HEALTH SYSTEM. THE TRANSACTION WAS FINALIZED AND BECAME EFFECTIVE JANUARY 1, 2021. UNDER THE TERMS OF THE AGREEMENT, A PORTION OF THE PROCEEDS WERE USED TO SATISFY THE OUTSTANDING BONDS ISSUED BY THE GRAYSON COUNTY PUBLIC HOSPITAL DISTRICT CORPORATION (THE "CORPORATION"). UPON THE DEFEASANCE OF THE BONDS, THE LAND AND FACILITIES OWNED BY THE CORPORATION WERE TRANSFERRED TO A NEW CORPORATION FORMED BY OWENSBORO HEALTH, OWENSBORO HEALTH TWIN LAKES REGIONAL MEDICAL CENTER, INC., TO OPERATE THE HOSPITAL. THE NET PROCEEDS FROM THE TRANSACTION AND RETAINED ASSETS WERE TRANSFERRED TO THE GRAYSON COUNTY HEALTHCARE FOUNDATION, INC., A NEW NOT FOR PROFIT CORPORATION FORMED TO PROVIDE GRANTS AND SUPPORT HEALTHCARE IN THE COUNTY. AFTER CURRENT OBLIGATIONS ARE FULFILLED, IT IS MANAGEMENT'S INTENT TO DISSOLVE THIS ENTITY; HOWEVER, THE TIME FRAME FOR THE DISSOLUTION IS UNCERTAIN AT THIS TIME. 322456 true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 3 0 0 false false false false false false false false X 5 5 false true false false true true false true true false false true true true true true true false false false X COMPANY OFFICIALS 2702593159 130 E MARKET ST LEITCHFIELD KY 42754 X DAVID DOWNS VICE-PRESIDE 1.00 X 0 0 0 DENNIS FENTRESS DIRECTOR 1.00 X 0 0 0 EDWIN MCKINNEY SECRETARY/TR 1.00 X 0 0 0 BRETT ABNEY OD DIRECTOR 1.00 X 0 0 0 TREVOR RAY PRESIDENT 1.00 X 0 0 0 false false false 319552 40271 279281 DSH SETTLEMENTS 344696 344696 OTHER INCOME 99384 99384 CONTRIBUTIONS 72196 72196 550 550 516826 836378 557097 279281 9 9 138 138 221166 221166 PROFESSIONAL FEES 101290 101290 DUES AND SUBSCRIPTIONS 512 512 MISCELLANEOUS EXPENSES 118 118 323233 322456 777 0 8456642 3733683 5375136 213415 23253 8670057 9132072 1321678 1270548 1321678 1270548 X 7348379 7861524 7348379 7861524 8670057 9132072 513145 X false false false X 3514347 3514347 540951 3199 557097 1101247 4055298 3199 557097 4615594 4615594 3602 101245 279281 384128 3602 101245 279281 384128 12577 155686 168263 4071477 260130 836378 5167985 0.89310 0.93690 0.07000 0.02000 X PART III, LINE 12 OTHER INCOME 168,263 FORM 990, PAGE 2, PART III, LINE 4A TWIN LAKES REGIONAL MEDICAL CENTER PROVIDES QUALITY MEDICAL HEALTH CARE SERVICES TO PATIENTS REGARDLESS OF RACE, CREED, SEX, NATIONAL ORIGIN, HANDICAP, AGE, OR THE ABILITY TO PAY. ALTHOUGH REIMBURSEMENT FOR SERVICES RENDERED IS CRITICAL TO THE OPERATION AND FINANCIAL STABILITY OF TWIN LAKES REGIONAL MEDICAL CENTER, IT IS RECOGNIZED THAT NOT ALL INDIVIDUALS POSSESS THE ABILITY TO PURCHASE ESSENTIAL MEDICAL SERVICES. IN KEEPING WITH OUR COMMITMENT TO SERVE ALL MEMBERS OF THIS AREA, THE HOSPITAL PROVIDES FREE CARE TO THE MOST INDIGENT OF PATIENTS AND WRITES OFF PORTIONS OF BILLS TO OTHER PATIENTS WHO HAVE DEMONSTRATED THE INABILITY TO PAY FOR ALL HEALTH CARE SERVICES RECEIVED. A LETTER OF INTENT WAS SIGNED ON APRIL 13, 2020 TO TRANSFER THE OPERATING ASSETS OF THE GRAYSON COUNTY HOSPITAL FOUNDATION, INC. (THE "HOSPITAL") AND THE TWIN LAKES MEDICAL FOUNDATION, INC. TO OWENSBORO HEALTH, INC., A NOT FOR PROFIT HEALTH SYSTEM. THE TRANSACTION WAS FINALIZED AND BECAME EFFECTIVE JANUARY 1, 2021. UNDER THE TERMS OF THE AGREEMENT, A PORTION OF THE PROCEEDS WERE USED TO SATISFY THE OUTSTANDING BONDS ISSUED BY THE GRAYSON COUNTY PUBLIC HOSPITAL DISTRICT CORPORATION (THE "CORPORATION"). UPON THE DEFEASANCE OF THE BONDS, THE LAND AND FACILITIES OWNED BY THE CORPORATION WERE TRANSFERRED TO A NEW CORPORATION FORMED BY OWENSBORO HEALTH, OWENSBORO HEALTH TWIN LAKES REGIONAL MEDICAL CENTER, INC., TO OPERATE THE HOSPITAL. THE NET PROCEEDS FROM THE TRANSACTION AND RETAINED ASSETS WERE TRANSFERRED TO THE GRAYSON COUNTY HEALTHCARE FOUNDATION, INC., A NEW NOT FOR PROFIT CORPORATION FORMED TO PROVIDE GRANTS AND SUPPORT HEALTHCARE IN THE COUNTY. AFTER CURRENT OBLIGATIONS ARE FULFILLED, IT IS MANAGEMENT'S INTENT TO DISSOLVE THIS ENTITY; HOWEVER, THE TIME FRAME FOR THE DISSOLUTION IS UNCERTAIN AT THIS TIME. FORM 990, PAGE 6, PART VI, LINE 3 THE FOUNDATION HAS CONTRACTED WITH BUCKLES, TRAVIS & HART, PLLC TO MANAGE THE WIND-DOWN ACTIVITIES AND WITH WAYNE MERIWEATHER WITH TWIN LAKES HEALTHCARE CONSULTING, LLC TO CONSULT WITH THE GOVERNING BOARD REGARDING MANAGEMENT DECISIONS. FORM 990, PAGE 6, PART VI, LINE 6 THE ORGANIZATION HAS STOCKHOLDERS. EACH SHARE OF STOCK IS VALUED AT 25. STOCKHOLDERS MUST BE AT LEAST 18 YEARS OLD AND A RESIDENT OF GRAYSON COUNTY, KENTUCKY. FORM 990, PAGE 6, PART VI, LINE 7A THE FIVE MEMBERS OF THE BOARD OF DIRECTORS ARE ELECTED BY THE STOCKHOLDERS. FORM 990, PAGE 6, PART VI, LINE 11B THE FORM 990 IS SUBMITTED TO THE GOVERNING BOARD FOR REVIEW AND APPROVAL BEFORE IT IS FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PAGE 6, PART VI, LINE 12C CORPORATE COMPLIANCE REQUIRES EACH BOARD MEMBER TO UPDATE AND SIGN OFF ON A CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS. FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON REQUEST.