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Nonprofiteer
← ALBERT EINSTEIN COLLEGE OF MEDICINE

Form 990 for tax year 2022

Filed by ALBERT EINSTEIN COLLEGE OF MEDICINE.

Totals

Total revenue
$398,736,597
Total expenses
$490,704,563
Contributions and grants received
$284,282,811
Grants paid
$23,356,918
Program service revenue
$105,282,516
Investment income
$2,367,218
Other revenue
$6,804,052
Total assets, end of year
$966,644,660
Total liabilities, end of year
$499,989,302
Net assets or fund balances, end of year
$466,655,358
Program services expenses (Part IX)
$450,929,381
Management and general expenses
$34,464,132
Fundraising expenses
$5,311,050
Program service expenses (Part III)
$450,929,381

Program services were 91.9% 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.

  • 1c · Fundraising events

    $526,478

  • 1d · Related organizations

    $20,000,000

  • 1e · Government grants (contributions)

    $219,948,556

  • 1f · All other contributions, gifts and grants

    $43,807,777

  • 1g · Noncash contributions included above

    $1,284,776

  • 2a · Program service revenue: STUDENT TUITION & FEES

    total $59,656,856 · related or exempt $59,656,856 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: AFFILIATION AGREEMENTS

    total $36,443,687 · related or exempt $36,443,687 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: RESEARCH CONTRACTS

    total $9,181,973 · related or exempt $9,181,973 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $3,905,547 · related or exempt $0 · unrelated business $122,550 · excluded $3,782,997

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $3,676,293 · related or exempt $0 · unrelated business $0 · excluded $3,676,293

  • 6a · Gross rents

    real property $2,525,297

  • 6b · Less rental expenses

    real property $4,949,558

  • 6c · Rental income or loss

    real property -$2,424,261 · personal property $0

  • 6d · Net rental income or loss

    total -$2,424,261 · related or exempt $0 · unrelated business $0 · excluded -$2,424,261

  • 7a · Gross sales of assets other than inventory

    securities -$1,573,107 · other assets $40,000

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

    securities $0 · other assets $5,222

  • 7c · Gain or loss

    securities -$1,573,107 · other assets $34,778

  • 7d · Net gain or loss

    total -$1,538,329 · related or exempt $0 · unrelated business $2,365 · excluded -$1,540,694

  • 8a · Fundraising events: gross income

    $95,230

  • 8a · Fundraising events: contributions included on line 1c

    $526,478

  • 8b · Fundraising events: direct expenses

    $386,958

  • 8c · Net income from fundraising events

    total -$291,728 · unrelated business $0 · excluded -$291,728

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: WRITE OFF OF CLINICAL RESERVES

    total $2,839,854 · related or exempt $0 · unrelated business $0 · excluded $2,839,854

  • 11b · Other revenue: STEAM & OTHER UTILITIES RECOVERY

    total $616,974 · related or exempt $0 · unrelated business $0 · excluded $616,974

  • 11c · Other revenue: CAFETERIA & VENDING INCOME

    total $477,041 · related or exempt $0 · unrelated business $0 · excluded $477,041

  • 11d · All other revenue

    total $1,909,879 · related or exempt $0 · unrelated business $0 · excluded $1,909,879

  • 11e · Other revenue, total

    $5,843,748

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $35,000 · program services $35,000

  • 2 · Grants to domestic individuals

    total $19,407,233 · program services $19,407,233

  • 3 · Grants to foreign organizations and individuals

    total $3,914,685 · program services $3,914,685

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $3,361,249 · program services $941,196 · management and general $2,420,053

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $209,493,495 · program services $196,136,834 · management and general $9,940,831 · fundraising $3,415,830

  • 8 · Pension plan contributions

    total $11,827,310 · program services $11,333,478 · management and general $293,692 · fundraising $200,140

  • 9 · Other employee benefits

    total $34,092,839 · program services $31,706,005 · management and general $1,836,269 · fundraising $550,565

  • 10 · Payroll taxes

    total $11,249,967 · program services $10,438,857 · management and general $629,974 · fundraising $181,136

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $2,711,761 · program services $1,184,357 · management and general $1,527,404 · fundraising $0

  • 11c · Fees: accounting

    total $1,340,771 · program services $93,017 · management and general $1,247,754 · fundraising $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $562,932 · program services $0 · management and general $562,932 · fundraising $0

  • 11g · Fees: other

    total $11,698,259 · program services $10,317,639 · management and general $1,072,839 · fundraising $307,781

  • 12 · Advertising and promotion

    total $128,817 · program services $88,451 · management and general $37,541 · fundraising $2,825

  • 13 · Office expenses

    total $3,465,161 · program services $2,577,554 · management and general $791,717 · fundraising $95,890

  • 14 · Information technology

    total $13,938,426 · program services $2,916,895 · management and general $10,988,341 · fundraising $33,190

  • 15 · Royalties

    total $852,838 · program services $852,838 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $18,176,168 · program services $18,175,850 · management and general $318 · fundraising $0

  • 17 · Travel

    total $2,781,465 · program services $2,714,186 · management and general $39,279 · fundraising $28,000

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $856,492 · program services $834,332 · management and general $21,256 · fundraising $904

  • 20 · Interest

    total $15,384,137 · program services $14,447,780 · management and general $936,357 · fundraising $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $43,230,292 · program services $43,230,292 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $3,296,424 · program services $2,377,306 · management and general $919,118 · fundraising $0

  • 24a · Other expenses: SPONSORED RESEARCH

    total $39,699,496 · program services $39,699,496 · management and general $0 · fundraising $0

  • 24b · Other expenses: TECHNICAL SUPPLIES & SERVICES

    total $20,641,690 · program services $20,439,494 · management and general $201,989 · fundraising $207

  • 24c · Other expenses: EDUCATION RESOURCES

    total $5,280,155 · program services $4,821,416 · management and general $458,739 · fundraising $0

  • 24d · Other expenses: EQUIP RENTAL & MAINTENANCE

    total $3,888,162 · program services $3,880,585 · management and general $7,577 · fundraising $0

  • 24e · All other expenses

    total $9,389,339 · program services $8,364,605 · management and general $530,152 · fundraising $494,582

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $28,227,535 · end of year $32,748,023

  • 2 · Savings and temporary cash investments

    beginning of year $15,658,338 · end of year $11,728,695

  • 3 · Pledges and grants receivable

    beginning of year $61,935,993 · end of year $68,942,077

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 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

  • 7 · Other notes and loans receivable

    beginning of year $24,812,065 · end of year $26,056,008

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $5,874,281 · end of year $10,001,395

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

    $649,220,113

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

    $251,286,768

  • 10c · Land, buildings and equipment, net

    beginning of year $410,579,018 · end of year $397,933,345

  • 11 · Investments: publicly traded securities

    beginning of year $117,364,530 · end of year $124,634,945

  • 12 · Investments: other securities

    beginning of year $234,286,588 · end of year $175,906,534

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $17,873,295 · end of year $16,093,424

  • 15 · Other assets

    beginning of year $107,313,758 · end of year $102,600,214

  • 17 · Accounts payable and accrued expenses

    beginning of year $44,724,431 · end of year $47,160,476

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $50,646,593 · end of year $50,060,157

  • 20 · Tax-exempt bond liabilities

    beginning of year $163,208,938 · end of year $163,208,938

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 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 $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $134,133,495 · end of year $128,339,001

  • 25 · Other liabilities

    beginning of year $132,282,897 · end of year $111,220,730

  • 27 · Net assets without donor restrictions

    beginning of year $66,143,494 · end of year $76,794,131

  • 28 · Net assets with donor restrictions

    beginning of year $432,785,553 · end of year $389,861,227

Mission and programs · 2022

Mission

TO ADVANCE BASIC SCIENCE, HEALTH-RELATED AND TRANSLATIONAL RESEARCH IN THE PUBLIC INTEREST, TRAIN ETHICAL COMPASSIONATE PHYSICIANS AND FACILITATE MEDICAL EDUCATION.

  • Withheld by Nonprofiteer: this text may name a private individual.

    Expenses $104,359,428 · Grants $19,442,233 · Revenue $96,100,543

  • Research: While education is at the heart of Einstein's mission, it is biomedical research that drives the College of Medicine's growth. Over the past 60 years, Einstein has become a premier biomedical research institution in this region of New York City, with its scientific enterprise ranked consistently in the top 25 percent of medical schools receiving NIH funding in the last decade. Einstein is home to many NIH-funded research multidisciplinary research centers - in diabetes, intellectual and developmental disorders, aging, liver diseases, health disparities, HIV/AIDS, cardiovascular research, organ transplantation and cancer - and it also provides an extensive array of translational research cores, including tissue analysis; multiscale imaging; molecular design; and genetic and genomic, proteomic and human phenotyping. Our Strategic Plan focuses on areas where we can significantly advance science and improve human health. Our aim is to develop robust multidisciplinary research programs for adult and pediatric patients, with particular emphases in six areas: brain science; immunotherapeutics; obesity and metabolic disorders; cancer; healthcare delivery and clinical effectiveness; and RNA science and medicine. Concurrently we are advancing our Center for Experimental Therapeutics, providing researchers with resources to pursue promising experimental projects with the goal of discovering new and better therapies. Long a national leader in biomedical research support from the Federal government, Einstein received $202 million in funding from the National Institutes of Health during 2022. Much of our research is conducted in the Michael F. Price Center for Genetic and Translational Medicine/Harold and Muriel Block Research Pavilion, one of the newest, largest and "greenest" biomedical research facilities in the New York area. Einstein operates eight NIH Health & Human Services-designated centers: the Albert Einstein Cancer Center, Center for Aids research, Diabetes research center, the Harold and Muriel Block Institute for Clinical and Translational Research at Einstein and Montefiore (ICTR), Institute for Aging Research, the Marion Bessin Liver Research Center, New York Regional Center for Diabetes Translation Research, and the Rose F. Kennedy Intellectual and Developmental Disabilities Research Center. As an engine for research collaboration, the NIH-funded ICTR has been a key factor in formally alligning Einstein and Montefiore with a shared mission. The ICTR is at the leading edge in comparative effectiveness, informatics, population health and lifespan research innovation. Our investment in research has translated into improved human health. Einstein's relationship with Montefiore supports a longstanding focus on bench-to-bedside research, through which discoveries in Einstein's laboratories lead to therapies and treatments for patients on an accelerated timetable. In the last decade, Einstein researchers were the first to show that low scores on a cancer-recurrence gene test may allow breast cancer patients to skip chemotherapy. We linked a child's abnormal breathing during sleep with behavioral, emotional and relationship troubles; discovered that slow walking speed plus memory complaints are predictors of dementia; created a prototype vaccine against tuberculosis that works better in animal models than the current TB vaccine; and discovered "longevity genes" in humans. Among our many ongoing initiatives are studies of healthcare-associated infections in children in ambulatory care settings and research on HIV eradication and the use of PrEP (pre-exposure prophylaxis) to reduce the risk of contracting HIV. Einstein is currently one of just four sites nationwide taking part in a large-scale study of the health status of the Hispanic/Latino community in the Bronx, supported by the NIH.

    Expenses $346,569,953 · Grants $3,914,685 · Revenue $9,181,973

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here. A text marked withheld matched a screen for wording that may name a private individual, such as an honorific or "in memory of". Most of what it withholds names no one; it is withheld so that what does is never shown.

Listed in Part VII

  • Philip O Ozuah MD PhD

    CEO/TRUSTEE

    Total calculated
    $9,906,213
    From this org
    $0
    From related orgs
    $9,856,588
    Other
    $49,625
    Hours/week
    1 + 59 related

    Schedule J breakdown matched by us

    Base
    $0 + $4,478,627 related
    Bonus
    $0 + $4,715,500 related
    Other
    $0 + $662,461 related
    Deferred
    $0 + $17,000 related
    Nontaxable benefits
    $0 + $32,625 related
    Filer's total
    $0 + $9,906,213 related

  • Gordon Tomaselli MD

    Marilyn & Stanley M. Katz Dean

    Total calculated
    $1,921,154
    From this org
    $1,868,132
    From related orgs
    $0
    Other
    $53,022
    Hours/week
    49 + 1 related

    Schedule J breakdown matched by us

    Base
    $885,654
    Bonus
    $225,000
    Other
    $757,478
    Deferred
    $19,875
    Nontaxable benefits
    $33,147
    Filer's total
    $1,921,154

  • Christopher Panczner

    ASSISTANT SECRETARY

    Total calculated
    $1,898,457
    From this org
    $0
    From related orgs
    $1,857,333
    Other
    $41,124
    Hours/week
    1 + 59 related

    Schedule J breakdown matched by us

    Base
    $0 + $954,591 related
    Bonus
    $0 + $310,000 related
    Other
    $0 + $592,742 related
    Deferred
    $0 + $17,000 related
    Nontaxable benefits
    $0 + $24,124 related
    Filer's total
    $0 + $1,898,457 related

  • Edward Chu MD

    Director, Cancer Center

    Total calculated
    $909,096
    From this org
    $857,953
    From related orgs
    $0
    Other
    $51,143
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $787,369
    Bonus
    $0
    Other
    $70,584
    Deferred
    $19,875
    Nontaxable benefits
    $31,268
    Filer's total
    $909,096

  • Edward R Burns MD

    Executive Dean

    Total calculated
    $767,978
    From this org
    $717,233
    From related orgs
    $0
    Other
    $50,745
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $712,907
    Bonus
    $0
    Other
    $4,326
    Deferred
    $19,875
    Nontaxable benefits
    $30,870
    Filer's total
    $767,978

  • Mark F Mehler

    Professor

    Total calculated
    $640,213
    From this org
    $609,133
    From related orgs
    $0
    Other
    $31,080
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $606,085
    Bonus
    $0
    Other
    $3,048
    Deferred
    $19,875
    Nontaxable benefits
    $11,205
    Filer's total
    $640,213

  • Michael Lipton

    Professor

    Total calculated
    $604,980
    From this org
    $551,609
    From related orgs
    $0
    Other
    $53,371
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $511,664
    Bonus
    $32,086
    Other
    $7,859
    Deferred
    $19,875
    Nontaxable benefits
    $33,496
    Filer's total
    $604,980

  • Amit Kumar Verma MBBS

    Professor

    Total calculated
    $591,392
    From this org
    $540,155
    From related orgs
    $0
    Other
    $51,237
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $539,603
    Bonus
    $0
    Other
    $552
    Deferred
    $19,875
    Nontaxable benefits
    $31,362
    Filer's total
    $591,392

  • Michael B Prystowsky MD

    Professor

    Total calculated
    $568,317
    From this org
    $518,504
    From related orgs
    $0
    Other
    $49,813
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $515,456
    Bonus
    $0
    Other
    $3,048
    Deferred
    $19,875
    Nontaxable benefits
    $29,938
    Filer's total
    $568,317

  • James Geraghty

    Chief Financial Officer & AVP

    Total calculated
    $550,390
    From this org
    $211,348
    From related orgs
    $293,848
    Other
    $45,194
    Hours/week
    25 + 25 related

    Schedule J breakdown matched by us

    Base
    $210,556 + $210,556 related
    Bonus
    $0 + $82,500 related
    Other
    $792 + $792 related
    Deferred
    $9,937 + $9,937 related
    Nontaxable benefits
    $12,660 + $12,660 related
    Filer's total
    $233,945 + $316,445 related

  • Gregg T Tarquinio

    Assoc Dean, Admin & Finance

    Total calculated
    $438,171
    From this org
    $406,136
    From related orgs
    $0
    Other
    $32,035
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $384,040
    Bonus
    $1,156
    Other
    $20,940
    Deferred
    $19,875
    Nontaxable benefits
    $12,160
    Filer's total
    $438,171

  • Linda Altman

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Diane Belfer

    TRUSTEE (Passed January 2022)

    Total calculated
    $0
    Hours/week
    1

  • Betty Feinberg

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Arthur N Hershaft

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Marilyn L Katz

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Stanley M Katz

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Andrew J Lauer

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Arnold S Penner

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Michael F Price

    TRUSTEE (Passed March 2022)

    Total calculated
    $0
    Hours/week
    1

  • Michael A Stocker MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 2.25 related

  • Daniel R Tishman

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 2.25 related

  • Samuel G Weinberg

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Zygmunt Wilf

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Benjamin J Winter

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Ruth L Gottesman EdD

    Trustee/CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1.5 related

  • Ira M Millstein

    SECRETARY/CHAIR EMERITUS

    Total calculated
    $0
    Hours/week
    1

  • Robert A Belfer

    TRUSTEE/CHAIR EMERITUS

    Total calculated
    $0
    Hours/week
    1

  • Nathan Gantcher

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 1.5 related

  • Karen A Mandelbaum

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Andrea Bauman Lustig

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jay B Abramson

    Trustee

    Total calculated
    $0
    Hours/week
    1 + 2.5 related

  • Melissa Ceriale

    Trustee

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Alisa R Doctoroff

    Trustee

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Catherine M Klema

    Trustee

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Stacey R Lane

    Trustee

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Carol B Einiger

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Susan H Fuhrman PhD

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Buzzy Geduld

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Leslie Morse Nelson

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Marla L Schaefer

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Sarah J Schlesinger MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Andrew Sommers

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • George P O'Garro

    Trustee (As of 12/15/22)

    Total calculated
    $0
    Hours/week
    1

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

  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 2 · Substantiation required before reimbursing expenses
  • 4a · Severance or change-of-control payment
  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 1A
The college provided an officer with a $200,000 housing allowance to supplement the cost of a residence near the college. This allowance was included in his taxable income and column b(iii) of Part II. Schedule J, Part I, line 2 The officer was provided a fixed housing allowance that did not require substantiation of expenses.
SCHEDULE J, PART I, LINE 3
The Montefiore Compensation Committee reviews and approves all forms of compensation and benefits provided to the college's CEO with the assistance of a national independent compensation consulting firm. The consulting firm assists the Compensation Committee with its decision-making process to ensure executive compensation levels are reasonable and appropriate relative to those of other similar organizations. Base salaries in Column B(i) are determined based on competitive market practices for comparable positions with similar sized organizations and scope of responsibilities. Bonus and incentive compensation in Column B (ii) is based on the achievement of performance goals. The executives' compensation program has a significant pay-at-risk component to ensure the alignment of pay and organizational performance. Goals are are set in advance in areas such as research productivity, quality of education, community services and financial performance. Compensation is at risk if the goals established by the Compensation Committee are not met.
SCHEDULE J, PART I, LINE 4B
As it relates to a supplemental nonqualified retirement plan for two reported trustees of the college's Board compensated by Montefiore Medicine Academic Health System, Inc. and the Dean/CEO of the organization whose compensation is determined by the Montefiore Medicine Academic Health System's Board: In a manner designed to qualify for the "rebuttable presumption of reasonableness" the Compensation Committee of Montefiore Board of Trustees expressly reviewed and approved these retirement benefit arrangements for these senior executives in a manner that qualified under the intermediate sanctions rules of the Federal tax law, and in recognition of (a) the executives' years of service to the organization and (b) the significant contributions to enhancing the ability of the organization to achieve its charitable mission in a manner consistent with financial solvency. Accordingly, this benefit should be viewed as applying to years of service for the Montefiore Health System. Required Pooled Supplemental Executive Retirement Plan distribution to two Board members and executives of Montefiore Medicine Academic Health System, Inc.: Philip Ozuah, M.D., Ph.D. - $632,224; Christopher Panczner - $558,708. Vested supplemental Retirement Plan distribution to the organization's CEO: Gordon F. Tomaselli, M.D. - $533,430. The Health System also funds a second defined contribution SERP plan. An officer of the organization currently participates in this plan. Contributions are at a fixed percentage of base salary or total cash compensation (base salary plus annual incentive award). A notional balance is developed for each participant that is the total of contributions less distributions (interest is not accrued). On January 1 following the third, sixth and ninth anniversaries of each participant's participation date, 50% of the remaining SERP account becomes vested and is paid out if the participant is employed on that date. On January 1 following the twelfth anniversary of each participant's participation date, the remainder of the SERP account becomes fully vested and is paid out. If a participant reaches age 65 before their twelfth anniversary of their participation date, their SERP account balance will become fully vested on the later of the first of the month following their 65th birthday or the third anniversary of their participation date. SERP account balances will also become fully vested upon the earliest of death or disability while employed by Montefiore, involuntary termination without cause or if Montefiore chooses to terminate the plan. During 2022, there were no distributions from the plan for the participating officer. Since the 2022 contribution accrual will be paid out prior to March 15, 2023, there was no deferred compensation from this plan reported in column (C) for the participating officer, Philip O. Ozuah, M.D., PH.D.
Schedule J, Part I, Line 7
Part of the annual incentive awards in column (B)(II) paid by the organization to one of its officers was based on the compensation Board discretion.

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

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

  • UNIVERSITY BEHAVIORAL ASSOCIATES INC

    C CORP · MGMT SERVICES · NY · controlled entity

    Directly controlled by NA

  • THE MONTEFIORE IPA INC

    C CORP · INTEG PROVR ASSOC · NY · controlled entity

    Directly controlled by NA

  • MMC GI HOLDINGS EAST INC

    C CORP · HOLDING COMPANY · NY · controlled entity

    Directly controlled by NA

  • MMC GI HOLDINGS WEST INC

    C CORP · HOLDING COMPANY · NY · controlled entity

    Directly controlled by NA

  • MONTEFIORE BEHAVIORAL CARE IPA NO 1 INC

    C CORP · INTEG PROVR ASSOC · NY · controlled entity

    Directly controlled by NA

  • BRONX ACCOUNTABLE CARE NETWORK IPA INC

    C CORP · INTEG PROVR ASSOC · NY · controlled entity

    Directly controlled by NA

  • MONTEFIORE CONSOLIDATED VENTURES INC

    C CORP · HOLDING COMPANY · NY · controlled entity

    Directly controlled by NA

  • MONTEFIORE INSURANCE COMPANY INC

    C CORP · INACTIVE · NY · controlled entity

    Directly controlled by NA

  • HUDSON VALEY IPA INC

    C CORP · INTEG PROVR ASSOC · NY · controlled entity

    Directly controlled by NA

  • MONTEFIORE INNOVATIONS INC

    C CORP · HOLDING COMPANY · NY · controlled entity

    Directly controlled by NA

  • HIGHLAND MEDICAL PC

    C CORP · HEALTHCARE SERV. · NY · controlled entity

    Directly controlled by NA

  • WHITE PLAINS MEDICAL DIAGNOSTIC SVCS PC

    C CORP · HEALTHCARE SERV. · NY · controlled entity

    Directly controlled by NA

  • CANCER AND BLOOD MEDICAL SERV OF NY PC

    C CORP · HEALTHCARE SERV. · NY · controlled entity

    Directly controlled by NA

  • DAVIS AVENUE CORP

    C CORP · Property Holding · NY · controlled entity

    Directly controlled by NA

  • WHITE PLAINS MANAGEMENT CO INC

    C CORP · Property Holding · NY · controlled entity

    Directly controlled by NA

  • WPHC BUILDINGS CORP

    C CORP · Property holding · NY · controlled entity

    Directly controlled by NA

  • WHITE PLAINS MEDICAL SERVICES PC

    C CORP · HEALTHCARE SERV. · NY · controlled entity

    Directly controlled by NA

  • WHITE PLAINS PHYSICIAN SERVICES PC

    C CORP · HEALTHCARE SERV. · NY · controlled entity

    Directly controlled by NA

  • CHARITABLE REMAINDER TRUST (4)

    C CORP · CHARIT REMR TRUST · NY · controlled entity

    Directly controlled by NA

  • CRHT ACQUSITION INC

    C CORP · HOLDING COMPANY · NY · controlled entity

    Directly controlled by NA

  • QUANTUM BIOTHERAPEUTICS LLC

    C CORP · INACTIVE · NY · controlled entity

    Directly controlled by NA

  • WHITE PLAINS PHYSICIAN MEDICAL SERV PC

    C CORP · INACTIVE · NY · controlled entity

    Directly controlled by NA

  • EAST POST ROAD MEDICAL SERVICES PC

    C CORP · HEALTHCARE SERV. · NY · controlled entity

    Directly controlled by NA

  • EAST POST ROAD PHYSICIAN SERV PC

    C CORP · INACTIVE · NY · controlled entity

    Directly controlled by NA

  • DAVIS AVENUE MEDICAL SERVICES PC

    C CORP · INACTIVE · NY · controlled entity

    Directly controlled by NA

  • WPH HOLDINGS INC

    C CORP · HOLDING COMPANY · NY · controlled entity

    Directly controlled by NA

  • INNOVATOR ACQUISITION CORP

    C CORP · HOLDING COMPANY · NY · controlled entity

    Directly controlled by NA

  • PY DEVELOPMENT CORP

    REIT · REIT · NY · controlled entity

    Directly controlled by NA

  • SPECIALTY SURGEONS OF CONNECTICUT PC

    C CORP · HEALTHCARE SERV. · CT · controlled entity

    Directly controlled by NA

  • CMO THE CARE MANAGEMENT COMPANY LLC

    C CORP · CARE MANAGEMENT · NY · controlled entity

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2022
Filed
9 November 2023
IRS schema version
2022v5.0
Source object
202323139349304462

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