Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $101,910,557

• 1e · Government grants (contributions)

  $141,677,523

• 1f · All other contributions, gifts and grants

  $33,675,296

• 1g · Noncash contributions included above

  $4,259,013

• 2a · Program service revenue: PATIENT REVENUE

  total $8,350,179,382 · related or exempt $8,338,271,910 · unrelated business $11,907,472

• 2b · Program service revenue: RENTAL INCOME

  total $57,835,490 · related or exempt $57,835,490

• 2c · Program service revenue: CONTRACT PHARMACY

  total $92,835,804 · related or exempt $92,835,804

• 2d · Program service revenue: MISC. PATIENT RELATED REVENUE

  total $7,031,921 · related or exempt $7,031,921

• 2f · All other program service revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $8,140,565 · unrelated business $15,761 · excluded $8,124,804

• 6c · Rental income or loss

  real property $0 · personal property $0

• 7a · Gross sales of assets other than inventory

  securities $13,661,536

• 7c · Gain or loss

  securities $13,661,536 · other assets $0

• 7d · Net gain or loss

  total $13,661,536 · excluded $13,661,536

• 11a · Other revenue: VENDOR REBATES

  total $43,434,858 · excluded $43,434,858

• 11b · Other revenue: CAFETERIA & VENDING MACHINES

  total $11,027,485 · excluded $11,027,485

• 11c · Other revenue: PROFESSIONAL FEE

  total $5,500,000 · related or exempt $5,500,000

• 11d · All other revenue

  total $49,754,541 · related or exempt $0 · unrelated business $122,861 · excluded $49,631,680

• 11e · Other revenue, total

  $109,716,884

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $109,552,240 · program services $109,552,240

• 2 · Grants to domestic individuals

  total $6,414,123 · program services $6,414,123

• 3 · Grants to foreign organizations and individuals

  total $2,858 · program services $2,858

• 4 · Benefits paid to or for members

  total $0 · program services $0

• 5 · Compensation of officers, directors and key employees

  total $50,504,973 · management and general $50,504,973

• 7 · Other salaries and wages

  total $3,757,084,776 · program services $3,114,097,446 · management and general $642,987,330

• 8 · Pension plan contributions

  total $52,518,298 · program services $43,530,319 · management and general $8,987,979

• 9 · Other employee benefits

  total $609,895,588 · program services $505,518,083 · management and general $104,377,505

• 10 · Payroll taxes

  total $248,694,278 · program services $206,132,750 · management and general $42,561,528

• 11b · Fees: legal

  total $19,665,991 · management and general $19,665,991

• 11c · Fees: accounting

  total $3,116,732 · management and general $3,116,732

• 11d · Fees: lobbying

  total $1,020,144 · management and general $1,020,144

• 11f · Fees: investment management

  total $45,656 · management and general $45,656

• 11g · Fees: other

  total $916,550,412 · program services $759,692,013 · management and general $156,858,399 · fundraising $0

• 12 · Advertising and promotion

  total $86,099,306 · program services $71,364,274 · management and general $14,735,032

• 13 · Office expenses

  total $222,173,713 · program services $184,150,913 · management and general $38,022,800

• 14 · Information technology

  total $141,887,064 · program services $117,604,518 · management and general $24,282,546

• 16 · Occupancy

  total $178,447,312 · program services $142,586,625 · management and general $35,860,687

• 17 · Travel

  total $6,585,956 · management and general $6,585,956

• 19 · Conferences, conventions and meetings

  total $2,334,182 · management and general $2,334,182

• 20 · Interest

  total $95,884,201 · program services $76,615,358 · management and general $19,268,843

• 22 · Depreciation, depletion and amortization

  total $515,888,584 · program services $412,215,860 · management and general $103,672,724

• 23 · Insurance

  total $113,181,774 · program services $111,144,449 · management and general $2,037,325

• 24a · Other expenses: MEDICAL SUPPLIES

  total $1,369,267,739 · program services $1,369,267,739

• 24b · Other expenses: Membership/Dues/Accreditation

  total $9,827,831 · program services $8,145,897 · management and general $1,681,934

• 24c · Other expenses: EXCISE TAX

  total $4,146,176 · management and general $4,146,176

• 24d · Other expenses: UBIT TAXES

  total $1,842,445 · management and general $1,842,445

• 24e · All other expenses

  total $23,111,409 · program services $0 · management and general $23,111,409 · fundraising $0

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $83,694,130 · end of year $77,253,703

• 2 · Savings and temporary cash investments

  beginning of year $259,246,519 · end of year $257,740,547

• 3 · Pledges and grants receivable

  beginning of year $0 · end of year $19,375

• 4 · Accounts receivable

  beginning of year $947,136,611 · end of year $1,165,530,442

• 5 · Loans and receivables from officers and key people

  beginning of year $0 · end of year $0

• 6 · Loans and receivables from disqualified persons

  beginning of year $0 · end of year $0

• 8 · Inventories for sale or use

  beginning of year $203,349,901 · end of year $259,249,690

• 9 · Prepaid expenses and deferred charges

  beginning of year $166,871,487 · end of year $311,212,838

• 10a · Land, buildings and equipment: cost or other basis

  $7,767,974,216

• 10b · Land, buildings and equipment: accumulated depreciation

  $3,282,247,026

• 10c · Land, buildings and equipment, net

  beginning of year $3,925,449,755 · end of year $4,485,727,190

• 11 · Investments: publicly traded securities

  beginning of year $116,086,078 · end of year $455,085,523

• 12 · Investments: other securities

  beginning of year $34,457,299 · end of year $29,669,745

• 13 · Investments: program-related

  beginning of year $0

• 15 · Other assets

  beginning of year $11,638,512,551 · end of year $11,022,983,774

• 17 · Accounts payable and accrued expenses

  beginning of year $1,501,656,598 · end of year $1,483,377,982

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $3,673,904,350 · end of year $3,648,088,046

• 25 · Other liabilities

  beginning of year $2,146,373,823 · end of year $2,282,314,559

• 27 · Net assets without donor restrictions

  beginning of year $7,274,630,534 · end of year $8,063,057,125

• 28 · Net assets with donor restrictions

  beginning of year $2,778,239,026 · end of year $2,587,635,115

The filer's explanations (Part III)

Schedule J, Part I, Line 1a First-class or charter travel

THE TRAVEL POLICY STATES THAT COACH CLASS IS REQUIRED FOR TRIPS LESS THAN 4 HOURS IN DURATION; BUSINESS CLASS FOR TRIPS OF GREATER DURATION. THE CEO, PRESIDENT, AND EXECUTIVE VICE PRESIDENTS ARE AUTHORIZED FIRST CLASS IF BUSINESS CLASS IS NOT AVAILABLE. FOR OTHERS, FIRST CLASS REQUIRES PRIOR AUTHORIZATION. IN SO FAR AS NECESSARY, THE NEW YORK AND PRESBYTERIAN HOSPITAL RECORDS ANY APPLICABLE ITEMS AS TAXABLE COMPENSATION TO THE INDIVIDUAL(S) AS REQUIRED BY THE INTERNAL REVENUE CODE.

Schedule J, Part I, Line 1a Housing allowance or residence for personal use

THE NEW YORK AND PRESBYTERIAN HOSPITAL SUPPLIES MONTHLY HOUSING ALLOWANCE TO CERTAIN EXECUTIVES DUE TO THE EXTENT AND NATURE OF THEIR RESPONSIBILITIES. TWO executives reported on Part VII, Section A received this benefit and it was treated as taxable compensation to them.

Schedule J, Part I, Line 1a Personal services

THE NEW YORK AND PRESBYTERIAN HOSPITAL SUPPLIES TRANSPORTATION TO CERTAIN EXECUTIVES DUE TO THE EXTENT AND NATURE OF THEIR RESPONSIBILITIES ACROSS VARIOUS PHYSICAL LOCATIONS. IN SO FAR AS NECESSARY, THE NEW YORK AND PRESBYTERIAN HOSPITAL RECORDS ANY APPLICABLE ITEMS AS TAXABLE COMPENSATION TO THE INDIVIDUAL(S) AS REQUIRED BY THE INTERNAL REVENUE CODE.

Schedule J, Part I, Line 4a Severance or change-of-control payment

DAVID ALGE RECEIVED $477,019 IN SEVERANCE PAY. SARAH AVINS RECEIVED $632,000 IN SEVERANCE PAY. WILLIAM LEE RECEIVED $900,000 IN SEVERANCE PAY. MICHAEL FOSINA RECEIVED $702,000 IN SEVERANCE PAY. ADRI CHAIKIN RECEIVED $378,615 IN SEVERANCE PAY.

Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan

PARTICIPATED IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN: STEVEN CORWIN : $509,668 LAURA FORESE : $74,859 MAXINE FRANK : $218,214 SUSAN MASCITELLI : $40,068 EMME DELAND : $104,417 SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN AS REPORTED ON THE W-2: STEVEN CORWIN : $1,490,783 LAURA FORESE : $1,415,739 HERBERT PARDES : $35,188 MAXINE FRANK : $1,460,806 EMME DELAND : $85,921 WILHELMINA MANZANO : $549,312 SUSAN MASCITELLI : $34,607 DOV SCHWARTZBEN : $470,927 GARY ZUAR : $477,510 JACLYN MUCARIA : $375,268

Schedule J, Part I, Line 7 Non-fixed payments

SEE SCHEDULE O PART VI, SECTION B, LINE 15 A & B - COMPENSATION PROCESS FOR AN EXPLANATION OF ANNUAL INCENTIVE PLAN PAYMENTS.

Schedule J, Part I PART VII & SCHEDULE J SUPPLEMENTAL INFORMATION

THE OFFICERS AND KEY EMPLOYEES IDENTIFIED IN PART VII ARE RESPONSIBLE FOR EXECUTING THE MISSION AND MANAGEMENT OF THE NEW YORK AND PRESBYTERIAN HOSPITAL (NYP) AND ITS AFFILIATED ENTITIES. COMPENSATION FOR 2022 OF THESE UPPER LEVEL EXECUTIVES INCLUDES THE PAYOUT OF AN ANNUAL INCENTIVE PLAN AND A LONG-TERM INCENTIVE PLAN. THIS PERFORMANCE ORIENTED PROGRAM CONDITIONS PAYMENTS UPON THE ACHIEVEMENT OF MULTIPLE INDIVIDUAL AND GROUP PERFORMANCE MEASURES. MEASURES TO MONITOR PERFORMANCE INCLUDE: OPERATIONAL AND FINANCIAL STRENGTH, PATIENT QUALITY AND SAFETY, PATIENT SATISFACTION, ADVANCEMENT OF PATIENT CARE, AND PEOPLE DEVELOPMENT AND PARTNERSHIP. INCENTIVE AWARDS MAY ONLY BE GRANTED IF THE ORGANIZATION ACHIEVES A FINANCIAL SURPLUS. EVEN IF ALL RELEVANT PERFORMANCE MEASUREMENTS ARE ACHIEVED, THE NYP BOARD OF TRUSTEES RETAINS FULL DISCRETION TO MAKE OR NOT MAKE ANY INCENTIVE AWARDS, OR TO REDUCE THE AMOUNT OF ANY INCENTIVE AWARD. THIS INITIATIVE IS CRITICAL TO ASSURING THAT NYP HAS THE REQUISITE LEADERSHIP TO CREATE AND MANAGE A HIGHLY MOTIVATED AND ENGAGED WORKFORCE, TO DRIVE SUPERIOR PERFORMANCE THROUGHOUT THE ORGANIZATION AND TO ACHIEVE TOP TIER MEDICAL CENTER STATUS. AS A SEPARATE MATTER, DUE TO RESTRICTIONS IMPOSED BY THE INTERNAL REVENUE CODE, UPPER LEVEL EXECUTIVES ARE LIMITED IN THE AMOUNT OF BENEFITS RECEIVED UNDER A TAX-QUALIFIED RETIREMENT PLAN. LIKE MANY EMPLOYERS, NYP SUPPLEMENTS THESE EXECUTIVES' PENSION BENEFITS THROUGH A SUPPLEMENTAL ("NONQUALIFIED") RETIREMENT PLAN. THE SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP) IS SUBJECT TO A MULTI-YEAR VESTING REQUIREMENT (COMMENCING) AFTER FIVE YEARS OF PARTICIPATION IN THE SERP, IN PRORATED AMOUNTS THROUGH AGE 65) WHICH PLACES AN EXECUTIVE'S SUPPLEMENTAL RETIREMENT BENEFIT AT RISK OF FORFEITURE IF THE VESTING REQUIREMENTS ARE NOT SATISFIED. ONCE VESTED, HOWEVER, PROVISIONS OF THE INTERNAL REVENUE CODE REQUIRE THAT THE VESTED EXECUTIVE INCLUDE IN CURRENT INCOME THE VALUE OF HIS OR HER VESTED SUPPLEMENTAL RETIREMENT BENEFIT. NOTWITHSTANDING THE LEGAL REQUIREMENT TO RECOGNIZE THE VESTED VALUE OF THE SUPPLEMENTAL RETIREMENT BENEFIT AS CURRENT INCOME, THE SUPPLEMENTAL RETIREMENT BENEFIT WILL NOT BE DISTRIBUTED TO THE EXECUTIVE UNTIL THE EXECUTIVE ACTUALLY RETIRES FROM NYP (ALTHOUGH, AS PERMITTED BY THE INTERNAL REVENUE CODE, THE SUPPLEMENTAL RETIREMENT PLAN WILL EFFECT A DISTRIBUTION OF AN AMOUNT NECESSARY TO SATISFY THE EXECUTIVE'S TAX LIABILITY RESULTING FROM THE INCOME RECOGNITION UPON VESTING). AS NOTED, THIS SUPPLEMENTAL RETIREMENT BENEFIT WILL NOT BE DISTRIBUTED TO THE EXECUTIVE UNTIL THE EXECUTIVE ACTUALLY RETIRES FROM NYP. THERE ARE CONSTANTLY CHANGING LEGAL, TAX, ACCOUNTING, AND PUBLIC DISCLOSURE RULES FOR A SERP (SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN) IN NOT-FOR-PROFIT ORGANIZATIONS. THE EXECUTIVE COMPENSATION COMMITTEE CONTINUOUSLY MONITORS THESE CHANGES AND INCORPORATES ANY CHANGES INTO THE OVERALL SERP PLAN DESIGN. AS IN PAST YEARS, THE EXECUTIVE COMPENSATION COMMITTEE OF NYP REQUIRES A THIRD PARTY TO COMPLETE A REVIEW OF THE ORGANIZATION'S COMPENSATION PROGRAM TO ENSURE ITS EFFECTIVENESS IN TERMS OF GOVERNMENT REGULATIONS, MARKET CONDITIONS AND THE NEED TO CONTINUALLY ELEVATE ORGANIZATIONAL PERFORMANCE. THE REPORT ALSO SERVES TO MEET THE REGULATORY OBLIGATIONS TO ENSURE THAT ALL ELEMENTS OF THE EXECUTIVE COMPENSATION PROGRAMS ARE REASONABLE. EACH OF THE OFFICERS AND KEY EMPLOYEES LISTED DEVOTES AN AVERAGE OF SIXTY HOURS PER WEEK TO PERFORM HIS OR HER RESPONSIBILITIES FOR THE REPORTING ENTITY AND OTHER RELATED ORGANIZATIONS IN THE AGGREGATE.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• CONVENIENT HOSPITAL PARKING LLC

  PARKING · NY · income $0 · assets $0

  Directly controlled by NYP HOSPITAL

• MEDICAL HORIZONS LLC

  MEDICAL SPACE · NY · income $0 · assets $12,900,000

  Directly controlled by NYP HOSPITAL

• NY PRESBYTERIAN GLOBAL SERVICES LLC

  H'CARE ACCESS · NY · income $0 · assets $0

  Directly controlled by NYP HOSPITAL

• NYP PHYSICAN SERVICES ORG LLC

  H'CARE MGMT · NY · income $0 · assets $0

  Directly controlled by NYP HOSPITAL

• NYP SPORTS PERFORMANCE LLC

  FITNESS · NY · income $122,861 · assets $191,312

  Directly controlled by NYP HOSPITAL

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• NYP PROGRAMS INC

  C Corporation · HEALTHCARE · NY · controlled entity

  Directly controlled by NYP FOUNDATION

• NYP SERVICES INC

  C Corporation · HEALTHCARE · NY · controlled entity

  Directly controlled by NYP FOUNDATION

• NEW YORK-PRESBYTERIAN GLOBAL INC

  C Corporation · INACTIVE · NY · controlled entity

  Directly controlled by NYP FOUNDATION

• HARKNESS HALL CLUB INC

  C Corporation · INACTIVE · NY · 100% owned · share of income $0 · share of assets $0 · controlled entity

  Directly controlled by NYP HOSPITAL

• VERNON HILLS MEDICAL PRACTICE PC

  C Corporation · INACTIVE · NY · 100% owned · share of income $0 · share of assets $0 · controlled entity

  Directly controlled by NYP HOSPITAL

• NYP GLOBAL SERVICES INC

  C Corporation · INACTIVE · NY · controlled entity

  Directly controlled by NYP FUND INC

• HUDSON VALLEY VENTURES INC

  C Corporation · INACTIVE · NY · controlled entity

  Directly controlled by WESTCHESTER PUT

• AC VENTURES INC

  C Corporation · REAL ESTATE · NY · controlled entity

  Directly controlled by WESTCHESTER PUT

• KNOWA VENTURES INC

  C Corporation · INACTIVE · NY · controlled entity

  Directly controlled by WESTCHESTER PUT

• MSO OF KINGS COUNTY LLC

  C Corporation · EMPLOY/STAFFING · NY · 100% owned · share of income $574,302 · share of assets $98,323 · controlled entity

  Directly controlled by NYP Hospital

• LC SERVICES CORPORATION

  C Corporation · INACTIVE · NY · controlled entity

  Directly controlled by LAWRENCE CARE

• NETWORK INSURANCE COMPANY LTD

  C Corporation · REINSURANCE · BD

  Directly controlled by NYP SYSTEMS INC

• CRT SURGICAL ASSOCIATES PC

  C Corporation · INACTIVE · NY · controlled entity

  Directly controlled by NYPQUEENS