Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $1,650,048

• 2a · Program service revenue: PATIENT CARE REVENUE

  total $60,312,900 · related or exempt $60,312,900

• 2b · Program service revenue: RENTAL INCOME FROM AFFILIATES

  total $111,240 · related or exempt $111,240

• 2f · All other program service revenue

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

• 3 · Investment income

  total $9,597 · excluded $9,597

• 6c · Rental income or loss

  real property $0 · personal property $0

• 7c · Gain or loss

  securities $0 · other assets $0

• 11a · Other revenue: CAFETERIA

  total $285,184 · excluded $285,184

• 11b · Other revenue: MANAGEMENT FEES

  total $132,684 · excluded $132,684

• 11c · Other revenue: INSURANCE REBATE

  total $25,103 · excluded $25,103

• 11d · All other revenue

  total $26,372 · related or exempt $0 · unrelated business $0 · excluded $26,372

• 11e · Other revenue, total

  $469,343

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $2,006,318 · program services $328,062 · management and general $1,678,256

• 7 · Other salaries and wages

  total $28,385,768 · program services $28,162,135 · management and general $223,633

• 8 · Pension plan contributions

  total $2,831,594 · program services $2,809,286 · management and general $22,308

• 9 · Other employee benefits

  total $7,493,236 · program services $7,434,201 · management and general $59,035

• 10 · Payroll taxes

  total $2,251,673 · program services $2,233,934 · management and general $17,739

• 11b · Fees: legal

  total $110,833 · management and general $110,833

• 11c · Fees: accounting

  total $316,205 · management and general $316,205

• 11d · Fees: lobbying

  total $29,257 · management and general $29,257

• 11g · Fees: other

  total $8,229,532 · program services $7,862,649 · management and general $366,883 · fundraising $0

• 13 · Office expenses

  total $4,876,803 · program services $4,838,382 · management and general $38,421

• 14 · Information technology

  total $377,273 · program services $374,300 · management and general $2,973

• 16 · Occupancy

  total $837,728 · program services $831,128 · management and general $6,600

• 19 · Conferences, conventions and meetings

  total $42,885 · management and general $42,885

• 20 · Interest

  total $323,637 · management and general $323,637

• 22 · Depreciation, depletion and amortization

  total $1,910,426 · program services $1,895,375 · management and general $15,051

• 23 · Insurance

  total $2,748,782 · program services $2,748,782

• 24a · Other expenses: MEDICAL SUPPLIES

  total $3,315,581 · program services $3,315,581

• 24b · Other expenses: NYS ASSESSMENT

  total $3,178,012 · program services $3,178,012

• 24c · Other expenses: OTHER DIRECT EXPENSES

  total $493,470 · program services $489,582 · management and general $3,888

• 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 $8,057 · end of year $8,057

• 2 · Savings and temporary cash investments

  beginning of year $605,315 · end of year $529,321

• 4 · Accounts receivable

  beginning of year $8,713,998 · end of year $7,786,085

• 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 $642,296 · end of year $516,297

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,459,809 · end of year $1,691,783

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

  $67,196,775

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

  $52,628,348

• 10c · Land, buildings and equipment, net

  beginning of year $15,703,275 · end of year $14,568,427

• 11 · Investments: publicly traded securities

  beginning of year $22,076 · end of year $33,148

• 12 · Investments: other securities

  beginning of year $0

• 13 · Investments: program-related

  beginning of year $0

• 15 · Other assets

  beginning of year $4,773,307 · end of year $6,823,474

• 17 · Accounts payable and accrued expenses

  beginning of year $11,393,488 · end of year $10,764,167

• 21 · Escrow or custodial account liability

  beginning of year $213,292 · end of year $338,387

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 25 · Other liabilities

  beginning of year $41,753,278 · end of year $49,474,306

• 27 · Net assets without donor restrictions

  beginning of year -$21,431,925 · end of year -$28,620,268

• 28 · Net assets with donor restrictions

  beginning of year $0 · end of year $0

The filer's explanations (Part III)

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

RECEIVED SEVERANCE PAY: WILLIAM WISSEMANN: $336,038 KEVIN J. WARD $515,000

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

PARTICIPATED IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN: JACLYN MUCARIA :$70,491 PARTICIPATED IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN AS REPORTED ON W2: JACLYN MUCARIA :$55,436

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

THE INDIVIDUALS SHOWN ON SCHEDULE J, PART II, THAT WERE PAID BY THE ORGANIZATION, RECEIVED BOARD APPROVED BONUS BASED ON THEIR PERFORMANCE.

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

CERTAIN OFFICERS AND KEY EMPLOYEES OF THE NEW YORK PRESBYTERIAN HOSPITAL THAT ARE IDENTIFIED IN PART VII AS OFFICER'S AND/OR TRUSTEES OF THE SILVERCREST CENTER FOR NURSING AND REHABILITATION ARE RESPONSIBLE FOR EXECUTING THE MISSION AND MANAGEMENT OF THE NEW YORK PRESBYTERIAN HOSPITAL (NYP) AND ITS AFFILIATED ENTITIES. COMPENSATION FOR 2023 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.

Related corporations and trusts

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

• NYP PROGRAMS INC

  C Corporation · HEALTHCARE · NY

  Directly controlled by NYP FOUNDATION

• NYP SERVICES INC

  C Corporation · HEALTHCARE · NY

  Directly controlled by NYP FOUNDATION

• NEW YORK-PRESBYTERIAN GLOBAL INC

  C Corporation · INACTIVE · NY

  Directly controlled by NYP FOUNDATION

• HARKNESS HALL CLUB INC

  C Corporation · INACTIVE · NY

  Directly controlled by NYP HOSPITAL

• VERNON HILLS MEDICAL PRACTICE PC

  C Corporation · INACTIVE · NY

  Directly controlled by NYP HOSPITAL

• NYP GLOBAL SERVICES INC

  C Corporation · INACTIVE · NY

  Directly controlled by NYP FUND INC

• HUDSON VALLEY VENTURES INC

  C Corporation · INACTIVE · NY

  Directly controlled by WESTCHESTER PUT

• AC VENTURES INC

  C Corporation · REAL ESTATE · NY

  Directly controlled by WESTCHESTER PUT

• KNOWA VENTURES INC

  C Corporation · INACTIVE · NY

  Directly controlled by WESTCHESTER PUT

• MSO OF KINGS COUNTY LLC

  C Corporation · EMPLOY/STAFFING · NY

  Directly controlled by NYP HOSPITAL

• LC SERVICES CORPORATION

  C Corporation · INACTIVE · NY

  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

  Directly controlled by NYPQUEENS