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Nonprofiteer
← NEW YORK HOSPITAL CORNELL MEDICAL CENTER FUND INC

Form 990 for tax year 2023

Filed by NEW YORK HOSPITAL CORNELL MEDICAL CENTER FUND INC.

Totals

Total revenue
$14,017,724
Total expenses
$8,663,522
Contributions and grants received
$211,521
Grants paid
$8,040,571
Program service revenue
$0
Investment income
$13,806,203
Other revenue
$0
Total assets, end of year
$249,439,381
Total liabilities, end of year
$77,336
Net assets or fund balances, end of year
$249,362,045
Program services expenses (Part IX)
$8,040,571
Management and general expenses
$622,951
Fundraising expenses
$0
Program service expenses (Part III)
$8,040,571

Program services were 92.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $211,521

  • 3 · Investment income

    total $1,472,466 · excluded $1,472,466

  • 7a · Gross sales of assets other than inventory

    securities $12,333,737

  • 7b · Less cost or other basis and sales expenses

    securities $0

  • 7c · Gain or loss

    securities $12,333,737

  • 7d · Net gain or loss

    total $12,333,737 · excluded $12,333,737

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $8,040,571 · program services $8,040,571

  • 11a · Fees: management

    total $55,000 · management and general $55,000

  • 11b · Fees: legal

    total $1,675 · management and general $1,675

  • 11c · Fees: accounting

    total $79,713 · management and general $79,713

  • 11f · Fees: investment management

    total $486,563 · management and general $486,563

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $210,932 · end of year $221,165

  • 4 · Accounts receivable

    beginning of year $591,710 · end of year $591,710

  • 11 · Investments: publicly traded securities

    beginning of year $236,791,622 · end of year $248,626,506

  • 17 · Accounts payable and accrued expenses

    beginning of year $75,209 · end of year $77,311

  • 25 · Other liabilities

    beginning of year $25 · end of year $25

  • 27 · Net assets without donor restrictions

    beginning of year $4,439,624 · end of year $4,636,429

  • 28 · Net assets with donor restrictions

    beginning of year $233,079,406 · end of year $244,725,616

Mission and programs · 2023

Mission

TO OBTAIN, MANAGE, AND DISTRIBUTE CHARITABLE CONTRIBUTIONS AND RELATED INVESTMENT INCOME, THEREON FOR THE EXCLUSIVE JOINT EDUCATIONAL, SCIENTIFIC AND CHARITABLE PURPOSES OF THE SOCIETY OF THE NEW YORK PRESBYTERIAN HOSPITAL AND WEILL MEDICAL COLLEGE OF CORNELL UNIVERSITY.

Activities or mission (Part I)

SOLICIT, RECEIVE, AND ADMINISTER GIFTS AND CONTRIBUTIONS FOR THE SOCIETY OF THE NEW YORK PRESBYTERIAN HOSPITAL AND WEILL MEDICAL COLLEGE OF CORNELL UNIVERSITY.

  • SUPPORT OF WEILL MEDICAL COLLEGE OF CORNELL UNIVERSITY

    Expenses $5,402,191 · Grants $5,402,191

  • SUPPORT OF THE SOCIETY OF THE NEW YORK PRESBYTERIAN HOSPITAL

    Expenses $2,638,380 · Grants $2,638,380

As filed on the 2023 return.

Listed in Part VII

  • JOHN S WEINBERG

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • KRAIG KAYSER

    VICE PRESIDENT (AS OF 5/22/24)

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • ANDREW H TISCH

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • STEVEN O NEWHOUSE

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • MELISSA E WELCH

    ASSISTANT SECRETARY

    Total calculated
    $231,016
    From this org
    $0
    From related orgs
    $192,422
    Other
    $38,594
    Hours/week
    1 + 54 related

    Schedule J breakdown matched by us

    Base
    $0 + $185,560 related
    Bonus
    $0 + $6,703 related
    Other
    $0 + $159 related
    Deferred
    $0 + $21,470 related
    Nontaxable benefits
    $0 + $17,124 related
    Filer's total
    $0 + $231,016 related

  • VANESSA M MURPHY

    ASSISTANT SECRETARY (AS OF 5/22/24)

    Total calculated
    $338,457
    From this org
    $0
    From related orgs
    $274,299
    Other
    $64,158
    Hours/week
    1 + 54 related

    Schedule J breakdown matched by us

    Base
    $0 + $240,957 related
    Bonus
    $0 + $33,000 related
    Other
    $0 + $342 related
    Deferred
    $0 + $17,208 related
    Nontaxable benefits
    $0 + $46,950 related
    Filer's total
    $0 + $338,457 related

  • ERIN K ANTHONY

    ASSISTANT TREASURER

    Total calculated
    $269,254
    From this org
    $0
    From related orgs
    $203,415
    Other
    $65,839
    Hours/week
    1 + 54 related

    Schedule J breakdown matched by us

    Base
    $0 + $164,311 related
    Bonus
    $0 + $10,000 related
    Other
    $0 + $29,104 related
    Deferred
    $0 + $12,990 related
    Nontaxable benefits
    $0 + $52,849 related
    Filer's total
    $0 + $269,254 related

  • JOSEPH SCHWARTZ

    TREASURER (UNTIL 1/5/24)

    Total calculated
    $527,303
    From this org
    $0
    From related orgs
    $445,608
    Other
    $81,695
    Hours/week
    1 + 54 related

    Schedule J breakdown matched by us

    Base
    $0 + $424,390 related
    Bonus
    $0
    Other
    $0 + $21,218 related
    Deferred
    $0 + $33,990 related
    Nontaxable benefits
    $0 + $47,705 related
    Filer's total
    $0 + $527,303 related

  • JOHN CAMPANO

    SECRETARY

    Total calculated
    $669,131
    From this org
    $0
    From related orgs
    $576,214
    Other
    $92,917
    Hours/week
    1 + 54 related

    Schedule J breakdown matched by us

    Base
    $0 + $396,126 related
    Bonus
    $0 + $136,469 related
    Other
    $0 + $43,619 related
    Deferred
    $0 + $47,582 related
    Nontaxable benefits
    $0 + $45,335 related
    Filer's total
    $0 + $669,131 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

FORM 990, SCHEDULE J
NEW YORK WEILL CORNELL MEDICAL CENTER FUND, INC. HAS NO EMPLOYEES. CERTAIN INDIVIDUALS IDENTIFIED HEREIN AS OFFICERS ARE EMPLOYED AND COMPENSATED BY RELATED ORGANIZATIONS - WEILL MEDICAL COLLEGE OF CORNELL UNIVERSITY AND THE SOCIETY OF THE NEW YORK PRESBYTERIAN HOSPITAL.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
2 May 2025
IRS schema version
2023v6.0
Source object
202521279349302362

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