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← VALENTIN FUSTER MT SINAI FOUNDATION FOR SCIENCE HEALTH & EMPOWERMENT

Form 990 for tax year 2022

Filed by VALENTIN FUSTER MT SINAI FOUNDATION FOR SCIENCE HEALTH & EMPOWERMENT.

Totals

Total revenue
$999,996
Total expenses
$1,519,733
Contributions and grants received
$999,996
Grants paid
$1,504,733
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$1,597
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$1,597
Program services expenses (Part IX)
$1,519,733
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$1,519,733

Program services were 100.0% 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

    $999,996

  • 3 · Investment income

    total $0

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

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 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

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,504,733 · program services $1,504,733

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $15,000 · program services $15,000

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 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 $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $521,334 · end of year $1,597

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $0

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 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 $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $0 · end of year $0

  • 28 · Net assets with donor restrictions

    beginning of year $521,334 · end of year $1,597

Mission and programs · 2022

Mission

SEE SCHEDULE O

Activities or mission (Part I)

SUPPORTING ORGANIZATION WITH THE PURPOSE TO SUPPORT MT. SINAI HEART'S EFFORTS AT THE MOUNT SINAI HOSPITAL & ICAHN SCHOOL OF MEDICINE AT MOUNT SINAI.

  • THROUGH THE RESEARCH AND CLINICAL CARE PROGRAMS OF MOUNT SINAI HEART, THE VALENTIN FUSTER MT SINAI FOUNDATION FOR SCIENCE HEALTH & EMPOWERMENT SEEKS TO IMPROVE DRAMATICALLY THE CARDIOVASCULAR HEALTH OF LOCAL AND GLOBAL COMMUNITIES. SUPPORT IS TO BE PROVIDED FOR THE MOUNT SINAI HOSPITAL AND ICAHN SCHOOL OF MEDICINE AT MOUNT SINAI WITH THE CHARITABLE, EDUCATIONAL AND SCIENTIFIC ACTIVITIES OF MOUNT SINAI HEART.

    Expenses $1,519,733 · Grants $1,504,733

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • DENNIS CHARNEY MD 1 2

    VICE PRESIDENT & DEAN, ISMMS

    Total calculated
    $2,289,804
    From this org
    $0
    From related orgs
    $2,239,387
    Other
    $50,417
    Hours/week
    0.5 + 59.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,100,000 related
    Bonus
    $0 + $373,200 related
    Other
    $0 + $766,187 related
    Deferred
    $0 + $30,500 related
    Nontaxable benefits
    $0 + $19,917 related
    Filer's total
    $0 + $2,289,804 related

  • STEPHEN HARVEY 1

    TREASURER & CFO, MT SINAI

    Total calculated
    $2,190,678
    From this org
    $0
    From related orgs
    $2,113,585
    Other
    $77,093
    Hours/week
    0.5 + 59.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,200,000 related
    Bonus
    $0 + $473,497 related
    Other
    $0 + $440,088 related
    Deferred
    $0 + $30,500 related
    Nontaxable benefits
    $0 + $46,593 related
    Filer's total
    $0 + $2,190,678 related

  • VALENTIN FUSTER MD-PHD 1

    PRESIDENT & DIRECTOR

    Total calculated
    $1,567,393
    From this org
    $0
    From related orgs
    $1,504,232
    Other
    $63,161
    Hours/week
    0.5 + 59.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $212,097 related
    Bonus
    $0 + $150,000 related
    Other
    $0 + $1,142,135 related
    Deferred
    $0 + $21,209 related
    Nontaxable benefits
    $0 + $41,952 related
    Filer's total
    $0 + $1,567,393 related

  • MARK KOSTEGAN FAHP 1

    SECRETARY & CHIEF DEV. OFFICER

    Total calculated
    $1,195,151
    From this org
    $0
    From related orgs
    $1,141,594
    Other
    $53,557
    Hours/week
    0.5 + 59.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $783,333 related
    Bonus
    $0 + $186,600 related
    Other
    $0 + $171,661 related
    Deferred
    $0 + $30,500 related
    Nontaxable benefits
    $0 + $23,057 related
    Filer's total
    $0 + $1,195,151 related

  • ANDREW M SAUL

    CHAIRMAN/DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • NEIL S MITCHELL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • NANCY BROWN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Luis de Carlos

    Director (Resigned 12/31)

    Total calculated
    $0
    Hours/week
    0.5

  • Placido Domingo

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Julio Iglesias

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Daniel Kahneman PhD

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Ronald S Lauder

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Alejandro Santo Domingo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Javier Solana

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Carles Vilarrubi

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Pau Gasol

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Jo Carole Lauder

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

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)

PART VII, SECTION A & SCHEDULE J
COMPENSATION FOOTNOTES OFFICERS OF THE BOARDS OF TRUSTEES HOURS REFLECT SERVICE TO ALL RELATED ORGANIZATIONS OF MOUNT SINAI HEALTH SYSTEM, INC. (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. (2) Employee has an outstanding loan reflected in Schedule L, Part II of Icahn School of Medicine at Mount Sinai Form 990. 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 3
THE MOUNT SINAI HOSPITAL, A RELATED ORGANIZATION, ESTABLISHES EXECUTIVE COMENSATION BY UTILIZING THE FOLLOWING METHODS: COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, COMPENSATION SURVEYS/STUDIES, AND APPROVAL BY THE BOARD/COMPENSATION COMMITTEE.
SCHEDULE J, PART I, LINES 6A & 6B
THE MOUNT SINAI HOSPITAL, A RELATED ORGANIZATION, ANSWERED YES TO QUESTIONS 6A AND 6B IN SCHEDULE J AS THE INSTITUTION UTILIZES AN INCENTIVE BASED BONUS PROGRAM FOR CERTAIN EMPLOYEES, INCLUDING SEVERAL OF THOSE EMPLOYEES LISTED IN SCHEDULE J. NET EARNINGS IS ONE OF SEVERAL METRICS UTILIZED BY THE INSTITUTION IN THE ANNUAL BONUS CALCULATION. OTHER METRICS UTILIZED IN THE INCENTIVE COMPENSATION MODEL INCLUDE THE ORGANIZATION'S PERFORMANCE ON THE JCAHO HOSPITAL CORE MEASURES, PATIENT SATISFACTION SCORES, AND OTHER ORGANIZATIONAL GOALS SUCH AS LENGTH OF STAY INITIATIVES. INDIVIDUALS THAT HAVE RESPONSIBILITIES IN RELATED ORGANIZATIONS TO THE HOSPITAL MAY HAVE INCENTIVES BASED ON THE PERFORMANCE OF THESE ORGANIZATIONS AS WELL AS THAT OF THE 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.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
7 November 2023
IRS schema version
2022v5.0
Source object
202343129349304309

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