Form 990 for tax year 2022
Filed by MONTEFIORE NEW ROCHELLE HOSPITAL.
Totals
- Total revenue
- $189,961,831
- Total expenses
- $202,547,108
- Contributions and grants received
- $27,549,036
- Grants paid
- $5,550
- Program service revenue
- $160,912,207
- Investment income
- $739,410
- Other revenue
- $761,178
- Total assets, end of year
- $129,121,192
- Total liabilities, end of year
- $162,688,030
- Net assets or fund balances, end of year
- -$33,566,838
- Program services expenses (Part IX)
- $188,288,059
- Management and general expenses
- $14,259,049
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $188,288,059
Program services were 93.0% 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.
-
1e · Government grants (contributions)
$27,397,138
-
1f · All other contributions, gifts and grants
$151,898
-
2a · Program service revenue: INPATIENT REVENUE
total $101,560,681 · related or exempt $101,560,681 · unrelated business $0 · excluded $0
-
2b · Program service revenue: OUTPATIENT REVENUE
total $52,195,726 · related or exempt $52,195,726 · unrelated business $0 · excluded $0
-
2c · Program service revenue: INTERCOMPANY SHARED SERVICES
total $4,614,066 · related or exempt $4,614,066 · unrelated business $0 · excluded $0
-
2d · Program service revenue: MEDICAL/NURSING EDUCATION
total $2,196,558 · related or exempt $2,196,558 · unrelated business $0 · excluded $0
-
2e · Program service revenue: OTHER HEALTH CARE SERVICES
total $345,176 · related or exempt $345,176 · unrelated business $0 · excluded $0
-
3 · Investment income
total $490,985 · related or exempt $0 · unrelated business $0 · excluded $490,985
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6a · Gross rents
real property $103,935
-
6b · Less rental expenses
real property $120,588
-
6c · Rental income or loss
real property -$16,653 · personal property $0
-
6d · Net rental income or loss
total -$16,653 · related or exempt $0 · unrelated business $0 · excluded -$16,653
-
7a · Gross sales of assets other than inventory
securities $248,425
-
7b · Less cost or other basis and sales expenses
securities $0
-
7c · Gain or loss
securities $248,425
-
7d · Net gain or loss
total $248,425 · related or exempt $0 · unrelated business $0 · excluded $248,425
-
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
-
11a · Other revenue: CAFETERIA/COFFEE SHOP & VENDING INCOME
total $642,109 · related or exempt $0 · unrelated business $0 · excluded $642,109
-
11b · Other revenue: PARKING INCOME
total $125,170 · related or exempt $0 · unrelated business $0 · excluded $125,170
-
11c · Other revenue: UNCLAIMED PROPERTY SETTLEMENT
total $9,080 · related or exempt $0 · unrelated business $0 · excluded $9,080
-
11d · All other revenue
total $1,472 · related or exempt $0 · unrelated business $0 · excluded $1,472
-
11e · Other revenue, total
$777,831
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $5,550 · program services $5,550
-
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 $86,231,434 · program services $80,668,872 · management and general $5,562,562 · fundraising $0
-
8 · Pension plan contributions
total $6,066,195 · program services $5,686,591 · management and general $379,604 · fundraising $0
-
9 · Other employee benefits
total $15,812,583 · program services $14,823,080 · management and general $989,503 · fundraising $0
-
10 · Payroll taxes
total $6,152,154 · program services $5,767,171 · management and general $384,983 · fundraising $0
-
11a · Fees: management
total $217,072 · program services $217,072 · management and general $0 · fundraising $0
-
11b · Fees: legal
total $109,948 · program services $7,130 · management and general $102,818 · fundraising $0
-
11c · Fees: accounting
total $0
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $52,052 · program services $0 · management and general $52,052 · fundraising $0
-
11g · Fees: other
total $9,678,723 · program services $9,555,319 · management and general $123,404 · fundraising $0
-
12 · Advertising and promotion
total $6,115 · program services $6,115 · management and general $0 · fundraising $0
-
13 · Office expenses
total $15,667,461 · program services $15,177,777 · management and general $489,684 · fundraising $0
-
14 · Information technology
total $5,316,069 · program services $4,288,332 · management and general $1,027,737 · fundraising $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $12,428,497 · program services $10,671,330 · management and general $1,757,167 · fundraising $0
-
17 · Travel
total $96,137 · program services $85,038 · management and general $11,099 · fundraising $0
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $31,911 · program services $31,355 · management and general $556 · fundraising $0
-
20 · Interest
total $1,840,507 · program services $1,840,507 · management and general $0 · fundraising $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $7,388,544 · program services $7,368,919 · management and general $19,625 · fundraising $0
-
23 · Insurance
total $7,968,276 · program services $7,762,284 · management and general $205,992 · fundraising $0
-
24a · Other expenses: MEDICAL SUPPLIES
total $19,860,719 · program services $19,819,686 · management and general $41,033 · fundraising $0
-
24b · Other expenses: INTERCOMPANY SHARED SERVICES
total $4,528,107 · program services $2,752,501 · management and general $1,775,606 · fundraising $0
-
24c · Other expenses: MEMBERSHIP DUES
total $1,829,347 · program services $1,224,515 · management and general $604,832 · fundraising $0
-
24d · Other expenses: BILLING AND COLLECTION
total $717,521 · program services $0 · management and general $717,521 · fundraising $0
-
24e · All other expenses
total $542,186 · program services $528,915 · management and general $13,271
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $16,035 · end of year $16,035
-
2 · Savings and temporary cash investments
beginning of year $1,601,170 · end of year $3,915,776
-
3 · Pledges and grants receivable
beginning of year $861,128 · end of year $2,909,995
-
4 · Accounts receivable
beginning of year $5,218,940 · end of year $8,574,411
-
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 $9,292 · end of year $83,149
-
8 · Inventories for sale or use
beginning of year $1,666,563 · end of year $1,986,443
-
9 · Prepaid expenses and deferred charges
beginning of year $1,345,236 · end of year $1,025,061
-
10a · Land, buildings and equipment: cost or other basis
$99,625,468
-
10b · Land, buildings and equipment: accumulated depreciation
$34,599,926
-
10c · Land, buildings and equipment, net
beginning of year $70,524,813 · end of year $65,025,542
-
11 · Investments: publicly traded securities
beginning of year $20,151,080 · end of year $18,473,000
-
12 · Investments: other securities
beginning of year $1,280,824 · end of year $627,382
-
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 $21,282,097 · end of year $26,484,398
-
17 · Accounts payable and accrued expenses
beginning of year $44,945,545 · end of year $43,113,180
-
18 · Grants payable
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $19,728 · end of year $18,614
-
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 $94,456,425 · end of year $119,556,236
-
27 · Net assets without donor restrictions
beginning of year -$31,975,691 · end of year -$50,136,584
-
28 · Net assets with donor restrictions
beginning of year $16,511,171 · end of year $16,569,746
Mission and programs · 2022
Mission
MISSION: TO HEAL, TO TEACH, TO DISCOVER AND TO ADVANCE THE HEALTH OF THE COMMUNITIES WE SERVE. VALUES: HUMANITY, INNOVATION, TEAMWORK, DIVERSITY AND EQUITY - OUR VALUES DEFINE OUR PHILOSOPHY OF CARE. THEY SHAPE OUR ACTIONS AND MOTIVATE AND INSPIRE US TO PURSUE EXCELLENCE AND ACHIEVE OUR GOALS.
Activities or mission (Part I)
TO HEAL, TO TEACH, TO DISCOVER AND TO ADVANCE THE HEALTH OF THE COMMUNITIES WE SERVE.
-
Patient Care The skilled and caring staff at Montefiore New Rochelle Hospital are dedicated to serving the diverse medical needs of residents in southern Westchester.Our community-based hospital is committed to providing exceptional care and focused on providing the best possible outcome for each patient. To advance the quality of care in the community, we have invested in the latest technology, grown with local needs and ensured that we are well equipped to foster better health for years to come.Our dedicated physicians, nurses and caregivers work where they live. We are neighbors caring for neighbors, and are grateful for the opportunity to improve health in the community. Montefiore New Rochelle offers a number of leading-edge services and programs that have earned distinction by state and national organizations for achieving and maintaining the highest quality of care within the specialty, including: Comprehensive bariatric surgery program accredited by MBSAQIP, the metabolic and bariatric surgery accreditation and quality improvement program, recipient of the gold seal of approval from the Joint Commission as a certified Center in both hip and knee joint replacement, a New York State-designated Stroke Center and the recipient of Healthgrades patient safety excellence award. Now the hub of a medical village, Montefiore New Rochelle Hospital has evolved tremendously over recent years. We have made significant investments in equipment and infrastructure, including the addition of a 64-slice computed tomography (CT) scanner and fully-revitalized state-of-the-art emergency room services with three dedicated and separated service areas: pediatrics, adult care, and substance abuse and behavioral health. Our Emergency Department (ED) is open and staffed 24 hours a day, seven days a week for all emergent medical issues. We have an experienced staff of emergency medicine board-certified physicians, physician assistants and registered nurses dedicated to providing timely and high-quality emergency services to our diverse patient population. MONTEFIORE NEW ROCHELLE HOSPITAL IS AN AFFILIATE OF THE MONTEFIORE Health System, INC. THE HEALTH SYSTEM IS A LEADER IN COMMUNITY AND population health and HAS A LONG HISTORY OF DEVELOPING INNOVATIVE APPROACHES TO CARE AND TAILORING PROGRAMS TO BEST SERVE THE changing needs of its communities.
Expenses $167,723,209 · Grants $5,550 · Revenue $150,056,611
-
Medical and Nursing Education The Department of Medicine at New Rochelle Hospital offers training programs for residents and students that reflects a deep institutional and departmental commitment to medical education in a supportive community-based environment that provides a full spectrum of care to a diverse patient population. Montefiore is the University hospital for Albert Einstein College of Medicine, one of the Nation's premier institutions for Medical Education, basic research and clinical investigations. This strong alignment enables Montefiore to advance clinical and translational research results more rapidly to the bedside and the medical community, and educate the next generation of physicians, healthcare leaders and investigators. Montefiore School of Nursing is on the forefront of nursing education. Our vision is excellence in nursing education. Located in Mount Vernon, New York, the school is a private two-year program leading to an Associate in Science degree. Our nursing program provides the Foundation for our nursing students committed to excellence to prepare to embark on a career that provides many professional challenges while laying the foundation for further education and advancement. Though a strong theoretical and clinically based program, our Nursing graduates receive the skills and confidence to provide the community with competent, quality nursing care. Learning in a hospital environment prepares our students to work in a variety of clinical settings securing employment in hospitals, home healthcare, education, long-term care, public health administration, forensic nursing, occupational health and research.
Expenses $20,564,850 · Revenue $10,855,596
As filed on the 2022 return.
Listed in Part VII
-
Philip O Ozuah MD PhDPHILIP O OZUAH MD PHD
PRESIDENT & CEO
- Total calculated
- $9,906,213
- From this org
- $0
- From related orgs
- $9,856,588
- Other
- $49,625
- Hours/week
- 5 + 55 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
-
Colleen BlyeCOLLEEN BLYE
EXEC VP & CFO
- Total calculated
- $3,567,598
- From this org
- $0
- From related orgs
- $3,537,630
- Other
- $29,968
- Hours/week
- 5 + 55 related
Schedule J breakdown matched by us
- Base
- $0 + $1,644,082 related
- Bonus
- $0 + $1,081,500 related
- Other
- $0 + $812,048 related
- Deferred
- $0 + $17,000 related
- Nontaxable benefits
- $0 + $12,968 related
- Filer's total
- $0 + $3,567,598 related
-
Susan Green-Lorenzen RNSUSAN GREEN-LORENZEN RN
System SENIOR VP-OPERATIONS
- Total calculated
- $2,575,364
- From this org
- $0
- From related orgs
- $2,528,339
- Other
- $47,025
- Hours/week
- 5 + 55 related
Schedule J breakdown matched by us
- Base
- $0 + $1,158,456 related
- Bonus
- $0 + $475,900 related
- Other
- $0 + $893,983 related
- Deferred
- $0 + $17,000 related
- Nontaxable benefits
- $0 + $30,025 related
- Filer's total
- $0 + $2,575,364 related
-
Christopher S PancznerCHRISTOPHER S PANCZNER
Assistant Secretary
- Total calculated
- $1,898,457
- From this org
- $0
- From related orgs
- $1,857,333
- Other
- $41,124
- Hours/week
- 5 + 55 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
-
Mark Liss MD
Physician-Gastroentrology
- Total calculated
- $750,271
- From this org
- $708,966
- From related orgs
- $0
- Other
- $41,305
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $536,112
- Bonus
- $172,854
- Other
- $0
- Deferred
- $8,780
- Nontaxable benefits
- $32,525
- Filer's total
- $750,271
-
Ared Garan MD
Physician-Obstetric
- Total calculated
- $616,854
- From this org
- $578,802
- From related orgs
- $0
- Other
- $38,052
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $577,218
- Bonus
- $0
- Other
- $1,584
- Deferred
- $7,788
- Nontaxable benefits
- $30,264
- Filer's total
- $616,854
-
Steven B Zelicof MDSTEVEN B ZELICOF MD
CHIEF, ORTHOPEDIC SURGERY
- Total calculated
- $588,828
- From this org
- $547,577
- From related orgs
- $0
- Other
- $41,251
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $545,993
- Bonus
- $0
- Other
- $1,584
- Deferred
- $6,800
- Nontaxable benefits
- $34,451
- Filer's total
- $588,828
-
John Olsewski MD
Physician-Orthopedic surgery
- Total calculated
- $559,318
- From this org
- $516,356
- From related orgs
- $0
- Other
- $42,962
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $514,772
- Bonus
- $0
- Other
- $1,584
- Deferred
- $8,920
- Nontaxable benefits
- $34,042
- Filer's total
- $559,318
-
Anthony Alfano
VP & Exec Director MNR
- Total calculated
- $549,552
- From this org
- $0
- From related orgs
- $503,226
- Other
- $46,326
- Hours/week
- 60
Schedule J breakdown matched by us
- Base
- $0 + $418,900 related
- Bonus
- $0 + $80,000 related
- Other
- $0 + $4,326 related
- Deferred
- $0 + $17,000 related
- Nontaxable benefits
- $0 + $29,326 related
- Filer's total
- $0 + $549,552 related
-
Dhar Yasmin MD
Chief-Sports Medicine
- Total calculated
- $469,560
- From this org
- $433,619
- From related orgs
- $0
- Other
- $35,941
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $433,379
- Bonus
- $0
- Other
- $240
- Deferred
- $6,889
- Nontaxable benefits
- $29,052
- Filer's total
- $469,560
-
Jay B AbramsonJAY B ABRAMSON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.3 + 3.2 related
-
Patricia BaumanPATRICIA BAUMAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.2 + 1.05 related
-
James M ButlerJAMES M BUTLER
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 0.5 + 3.75 related
-
Bruce DonigerBRUCE DONIGER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.2 + 1.05 related
-
Ruth L Gottesman EdDRUTH L GOTTESMAN EDD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.2 + 2.3 related
-
Patricia GreenPATRICIA GREEN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.2 + 1.05 related
-
Thomas L HarrisonTHOMAS L HARRISON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.2 + 1.05 related
-
John HefferJOHN HEFFER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.2 + 1.8 related
-
Lewis HenkindLEWIS HENKIND
Trustee
- Total calculated
- $0
- Hours/week
- 0.2 + 2.05 related
-
Helen A JohnsonHELEN A JOHNSON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.2 + 1.3 related
-
David B KeidanDAVID B KEIDAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.2 + 1.05 related
-
Alan M KleinALAN M KLEIN
Secretary
- Total calculated
- $0
- Hours/week
- 0.4 + 3.1 related
-
Stacey R LaneSTACEY R LANE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.2 + 2.8 related
-
Jay B LangnerJAY B LANGNER
TRUSTEE (Retired 6/30/2022)
- Total calculated
- $0
- Hours/week
- 0.2 + 1.05 related
-
Margaret L NathanMARGARET L NATHAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.2 + 1.05 related
-
Gayle F RobinsonGAYLE F ROBINSON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.3 + 2.2 related
-
Jon W RotenstreichJON W ROTENSTREICH
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.2 + 1.05 related
-
Edwin H Stern IIIEDWIN H STERN III
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.2 + 1.05 related
-
David A TannerDAVID A TANNER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.2 + 1.3 related
-
Jennie EmilJENNIE EMIL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.2 + 1.05 related
-
Jonathan A LiptonJONATHAN A LIPTON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.2 + 1.3 related
-
Nathan GantcherNATHAN GANTCHER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.2 + 2.3 related
-
Catherine KlemaCATHERINE KLEMA
Vice Chair
- Total calculated
- $0
- Hours/week
- 0.4 + 3.6 related
-
Melissa CerialeMELISSA CERIALE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.3 + 3.7 related
-
Barry S BlattmanBARRY S BLATTMAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.3 + 2.2 related
-
Matthew H NordMATTHEW H NORD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.2 + 1.3 related
-
Michael A Stocker MDMICHAEL A STOCKER MD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.3 + 2.95 related
-
Joel BraunJOEL BRAUN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.2 + 1.05 related
-
Emanuel ChiricoEMANUEL CHIRICO
Treasurer
- Total calculated
- $0
- Hours/week
- 0.3 + 2.2 related
-
Alisa R Doctoroff
Trustee
- Total calculated
- $0
- Hours/week
- 0.3 + 3.7 related
-
John P Gutfreund
Trustee
- Total calculated
- $0
- Hours/week
- 0.2 + 1.05 related
-
Ronald L MoelisRONALD L MOELIS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.3 + 1.7 related
-
Alan N SunaALAN N SUNA
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.2 + 1.05 related
-
Daniel R TishmanDANIEL R TISHMAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.2 + 3.05 related
-
Douglas F Eisenberg
Trustee
- Total calculated
- $0
- Hours/week
- 0.2 + 1.05 related
-
Ellen Breslow NewhouseELLEN BRESLOW NEWHOUSE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.2 + 1.05 related
-
Allen M Spiegel MDALLEN M SPIEGEL MD
TRUSTEE (APPOINTED 6/30/2022)
- Total calculated
- $0
- Hours/week
- 0.2 + 1.05 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
- 4b · Supplemental nonqualified retirement plan
Answered no
- 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
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- Part I, Lines 3, 4B & Part II - Columns (B)(i), (ii) & (iii)
- As it relates to Compensation from either Montefiore Medicine Academic Health System, Inc. or Montefiore Health System, Inc. The Compensation Committee reviews and approves all forms of compensation and benefits provided to all officers and certain key employees 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 size 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 set in advance in areas such as quality of care, patient satisfaction, community services and financial performance. Compensation is at risk if the goals established by the Compensation Committee are not met. Other reportable compensation in column B(III) includes distributions from the supplemental executive retirement plan. In a manner designed to qualify for the "rebuttable presumption of reasonableness" the Compensation Committee of the Board of Trustees expressly reviewed and approved these retirement benefit arrangements for 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 organization. POOLED SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN DISTRIBUTIONs based on multiple years of service and paid out in 2022 as taxable income: Susan Green-Lorenzen, R.N. - $871,397; Philip O. Ozuah, M.D., PH.D. - $632,224; Christopher Panczner - $558,708; Colleen Blye - $810,464. 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.
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.
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501(C)(3) · Real Estate · NY · controlled entity
Directly controlled by MMC
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501(C)(3) · Acad Med Ctr · NY · controlled entity
Directly controlled by MHS
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501(C)(2) · Staff Housing · NY · controlled entity
Directly controlled by MMC
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Montefiore Hospital Housing Sect IIInc
501(C)(2) · Staff Housing · NY · controlled entity
Directly controlled by MMC
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Mosholu Preservation Corporation
501(C)(3) · Community Ser · NY · controlled entity
Directly controlled by MMC
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501(C)(3) · PARENT · NY · controlled entity
Directly controlled by MMAHS
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MONTEFIORE MOUNT VERNON HOSPITAL
501(C)(3) · HOSPITAL · NY · controlled entity
Directly controlled by MHS
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501(C)(3) · NURSING HOME · NY · controlled entity
Directly controlled by MHS
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Montefiore Medicine ACADEMIC HEALTH SYST
501(c)(3) · SYSTEM PARENT · NY · controlled entity
Directly controlled by NA
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501(c)(3) · Hospital · NY · controlled entity
Directly controlled by MHS
-
501(c)(3) · INACTIVE · NY · controlled entity
Directly controlled by MMAHS
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White Plains Hospital Medical Center
501(C)(3) · HOSPITAL · NY · controlled entity
Directly controlled by MHS
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501(C)(2) · STUDENT HOUS · NY · controlled entity
Directly controlled by AECOM
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Montefiore CERC Operations Inc
501(c)(3) · REHAB CENTER · NY · controlled entity
Directly controlled by MMC
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White Plains Hospital Ctr Fdn Inc
501(C)(3) · Fundraising · NY · controlled entity
Directly controlled by WPHMC
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Montefiore Nyack Hospital Foundation
501(C)(3) · Fundraising · NY · controlled entity
Directly controlled by NYACK HOSP
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The Winifred Masterson Burke Rehab Hosp
501(c)(3) · Rehab Hosp · NY · controlled entity
Directly controlled by MHS
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501(C)(3) · Hospital · NY · controlled entity
Directly controlled by mhs
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501(c)(3) · Healthcare · NY · controlled entity
Directly controlled by SLCH
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Hudson Vista Physician Services PC
501(c)(3) · Healthcare · NY · controlled entity
Directly controlled by SLCH
-
St Luke's Cornwall Health System Inc
501(c)(3) · Holding Comp · NY · controlled entity
Directly controlled by MHS
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St Luke's Cornwall Health SYSTEM FDN
501(c)(3) · Fundraising · NY · controlled entity
Directly controlled by SLCHS
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MONTEFIORE MED ACAD HLTH SYS SELF INS TR
501(C)(3) · INS TRUST · NY · controlled entity
Directly controlled by MMAHS
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ALBERT EINSTEIN COLLEGE OF MEDICINE
501(C)(3) · MED COLLEGE · NY · controlled entity
Directly controlled by MMAHS
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Montefiore Community Services Inc
501(c)(3) · Healthcare · NY · controlled entity
Directly controlled by MMC
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MONTEFIORE EINSTEIN ADVANCED CARE
501(c)(3) · Healthcare · NY · controlled entity
Directly controlled by MHS
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501(C)(4) · SOCIAL WELFAR · NY · controlled entity
Directly controlled by MHS
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501(C)(3) · PARKING · NY · controlled entity
Directly controlled by NYACK HOSP
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.
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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
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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 1INC
C CORP · INTEG PROVR ASSOC · NY · controlled entity
Directly controlled by NA
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BRONX ACCOUNTABLE CARE NETWORK IPA INC
C CORP · Integ Provr Assoc · NY · controlled entity
Directly controlled by NA
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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
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Hudson Valley 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 Serv 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 Building 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)
Trust · Char Remr Trust · NY · controlled entity
Directly controlled by NA
-
CRHT ACQUISITION 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 PHYSCIAN 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 SERVICES 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
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CMO THE CARE MANAGEMENT COMPANY LLC
C corp · CARE MANAGEMENT · controlled entity
Directly controlled by NA
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 8 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202333129349301493
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