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Nonprofiteer
← EAST 17TH STREET PROPERTIES INC

Form 990 for tax year 2023

Filed by EAST 17TH STREET PROPERTIES INC.

Totals

Total revenue
$323,324
Total expenses
$1,252,254
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$323,324
Investment income
$0
Other revenue
$0
Total assets, end of year
$29,824,762
Total liabilities, end of year
$539,278
Net assets or fund balances, end of year
$29,285,484
Program services expenses (Part IX)
$885,747
Management and general expenses
$366,507
Fundraising expenses
$0
Program service expenses (Part III)
$885,747

Program services were 70.7% 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.

  • 2a · Program service revenue: RENTAL INCOME

    total $323,324 · related or exempt $323,324

  • 2f · All other program service revenue

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

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 11g · Fees: other

    total $553,806 · program services $553,806 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $11,905 · program services $9,433 · management and general $2,472

  • 16 · Occupancy

    total $641,241 · program services $291,573 · management and general $349,668

  • 22 · Depreciation, depletion and amortization

    total $38,426 · program services $24,059 · management and general $14,367

  • 23 · Insurance

    total $6,876 · program services $6,876

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $208,447 · end of year $209,725

  • 4 · Accounts receivable

    beginning of year $25,502 · end of year $17,522

  • 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

  • 9 · Prepaid expenses and deferred charges

    beginning of year $169,006 · end of year $177,311

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

    $4,173,203

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

    $3,939,418

  • 10c · Land, buildings and equipment, net

    beginning of year $272,212 · end of year $233,785

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $30,078,399 · end of year $29,186,419

  • 17 · Accounts payable and accrued expenses

    beginning of year $292,385 · end of year $309,594

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $246,767 · end of year $229,684

  • 27 · Net assets without donor restrictions

    beginning of year $30,214,414 · end of year $29,285,484

Mission and programs · 2023

Mission

EAST 17TH STREET PROPERTIES, INC. PROVIDES SUPPORT AND BENEFIT FOR BETH ISRAEL MEDICAL CENTER THROUGH THE OWNERSHIP OF CERTAIN REAL ESTATE PROPERTIES THAT SERVE THE MEDICAL CENTER IN ITS CHARITABLE ACTIVITIES.

Activities or mission (Part I)

PROVIDES SUPPORT AND BENEFIT FOR BETH ISRAEL MEDICAL CENTER THROUGH THE OWNERSHIP OF CERTAIN REAL ESTATE PROPERTIES THAT SERVE THE MEDICAL CENTER IN ITS CHARITABLE ACTIVITIES.

  • THE ORGANIZATION PROVIDES HOUSING TO DOCTORS, NURSES AND OTHER MEDICAL STAFF, WHO IN TURN PROVIDE SERVICES TO BETH ISRAEL MEDICAL CENTER AND ITS 501(C)(3) AFFILIATES. THE ORGANIZATION LEASES OFFICE AND CLINICAL SPACE TO BETH ISRAEL MEDICAL CENTER.

    Expenses $885,747 · Revenue $323,324

As filed on the 2023 return.

Listed in Part VII

  • Margaret Pastuszko

    PRESIDENT/CHAIRMAN

    Total calculated
    $2,493,286
    From this org
    $0
    From related orgs
    $2,423,803
    Other
    $69,483
    Hours/week
    0.5 + 59.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,750,000 related
    Bonus
    $0 + $471,625 related
    Other
    $0 + $202,178 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $36,483 related
    Filer's total
    $0 + $2,493,286 related

  • Stephen Harvey

    TRUSTEE/TREASURER

    Total calculated
    $2,107,872
    From this org
    $0
    From related orgs
    $2,026,048
    Other
    $81,824
    Hours/week
    0.5 + 59.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,200,000 related
    Bonus
    $0 + $390,775 related
    Other
    $0 + $435,273 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $48,824 related
    Filer's total
    $0 + $2,107,872 related

  • Jeffrey Silberstein

    TRUSTEE

    Total calculated
    $1,518,747
    From this org
    $0
    From related orgs
    $1,484,091
    Other
    $34,656
    Hours/week
    0.5 + 59.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,032,000 related
    Bonus
    $0 + $269,500 related
    Other
    $0 + $182,591 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $1,656 related
    Filer's total
    $0 + $1,518,747 related

  • Christopher Considine

    SECRETARY

    Total calculated
    $618,278
    From this org
    $0
    From related orgs
    $557,785
    Other
    $60,493
    Hours/week
    0.5 + 59.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $500,000 related
    Bonus
    $0 + $46,200 related
    Other
    $0 + $11,585 related
    Deferred
    $0 + $26,400 related
    Nontaxable benefits
    $0 + $34,093 related
    Filer's total
    $0 + $618,278 related

  • Beth Essig

    FORMER OFFICER (END JUL 2022)

    Total calculated
    $1,878,171
    From this org
    $0
    From related orgs
    $1,822,706
    Other
    $55,465
    Hours/week
    0.5

    Schedule J breakdown matched by us

    Base
    $0 + $1,350,000 related
    Bonus
    $0 + $363,825 related
    Other
    $0 + $108,881 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $22,465 related
    Filer's total
    $0 + $1,878,171 related

  • Jeremy Boal MD

    FORMER OFFICER (END JUL 2022)

    Total calculated
    $1,854,642
    From this org
    $0
    From related orgs
    $1,765,171
    Other
    $89,471
    Hours/week
    0.5

    Schedule J breakdown matched by us

    Base
    $0 + $1,065,549 related
    Bonus
    $0
    Other
    $0 + $699,622 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $56,471 related
    Filer's total
    $0 + $1,854,642 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

  • 4a · Severance or change-of-control payment

Answered no

  • 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)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
THE FOLLOWING METHODS ARE USED BY A RELATED ORGANIZATION TO ESTABLISH COMPENSATION OF THE LISTED MEMBERS: A COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE. SUPPLEMENTAL INFORMATION COMPENSATION FOOTNOTES: OFFICERS OF THE BOARD OF TRUSTEES HOURS REFLECT SERVICE TO ALL RELATED ORGANIZATIONS OF MOUNT SINAI HEALTH SYSTEM. OTHER REPORTABLE COMPENSATION FOR OFFICERS, KEY EMPLOYEES, AND HIGHEST COMPENSATED EMPLOYEES AS IDENTIFIED IN THE FORM 990, PART VII, AND LISTED ON SCHEDULE J MAY INCLUDE VARIOUS TYPES OF SUPPLEMENTAL WAGES.
Schedule J, Part I, Line 4a Severance or change-of-control payment
JEREMY BOAL RECEIVED $148,883 OF SEVERANCE PAYMENTS DURING 2023.
Schedule J, Part I PART VII, SECTION A & SCHEDULE J COMPENSATION FOOTNOTES
(1) COMPENSATION AND BENEFITS ARE FUNDED FROM THE MOUNT SINAI HOSPITAL, ICAHN SCHOOL OF MEDICINE AT MOUNT SINAI, BETH ISRAEL MEDICAL CENTER, ST. LUKE'S-ROOSEVELT HOSPITAL CENTER, AND/OR NEW YORK EYE AND EAR INFIRMARY.

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

No itemized grants to organizations 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.

  • Manhattan Management Services

    C Corporation · MGMT SERVICES · NY

    Directly controlled by SLR

  • SLR Management Services

    C Corporation · MGMT SERVICES · NY

    Directly controlled by SLR

  • MOUNT SINAI HC VENTURES INC

    C Corporation · HEALTH CARE · NY

    Directly controlled by BIMC HOLDCO

  • MSHS VACCINE COMPANY

    C Corporation · CLINICAL LAB · NY

    Directly controlled by ISMMS

  • KANTARO BIOSCIENCES LLC

    C Corporation · CLINICAL LAB · NY

    Directly controlled by ISMMS

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.1
Source object
202423169349306282

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