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Nonprofiteer
← BRONXCARE HEALTH SYSTEM

Form 990 for tax year 2023

Filed by BRONXCARE HEALTH SYSTEM.

Totals

Total revenue
$950,080,223
Total expenses
$927,923,862
Contributions and grants received
$20,450,709
Grants paid
$0
Program service revenue
$909,431,224
Investment income
$19,201,691
Other revenue
$996,599
Total assets, end of year
$971,494,559
Total liabilities, end of year
$560,597,996
Net assets or fund balances, end of year
$410,896,563
Program services expenses (Part IX)
$787,130,313
Management and general expenses
$140,791,627
Fundraising expenses
$1,922
Program service expenses (Part III)
$787,130,313

Program services were 84.8% 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)

    $18,951,548

  • 1f · All other contributions, gifts and grants

    $1,499,161

  • 1g · Noncash contributions included above

    $1,517,915

  • 2a · Program service revenue: HOSPITAL-PATIENT SVCS

    total $909,431,224 · related or exempt $909,431,224

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $19,201,691 · excluded $19,201,691

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11a · Other revenue: Insurance Recovery

    total $996,599 · excluded $996,599

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $996,599

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $6,101,421 · program services $915,213 · management and general $5,186,208

  • 7 · Other salaries and wages

    total $415,466,702 · program services $384,763,364 · management and general $30,703,338

  • 8 · Pension plan contributions

    total $29,539,821 · program services $26,802,536 · management and general $2,737,285

  • 9 · Other employee benefits

    total $80,287,539 · program services $72,326,898 · management and general $7,960,641

  • 10 · Payroll taxes

    total $32,244,366 · program services $29,512,742 · management and general $2,731,624

  • 11b · Fees: legal

    total $4,015,794 · management and general $4,015,794

  • 11c · Fees: accounting

    total $220,889 · management and general $220,889

  • 11d · Fees: lobbying

    total $197,935 · management and general $197,935

  • 11g · Fees: other

    total $153,077,156 · program services $103,257,506 · management and general $49,819,650 · fundraising $0

  • 12 · Advertising and promotion

    total $301,108 · program services $88,531 · management and general $212,577

  • 13 · Office expenses

    total $89,038,238 · program services $83,147,662 · management and general $5,888,654 · fundraising $1,922

  • 14 · Information technology

    total $19,753,374 · program services $12,948,339 · management and general $6,805,035

  • 16 · Occupancy

    total $37,399,664 · program services $29,652,871 · management and general $7,746,793

  • 19 · Conferences, conventions and meetings

    total $600,475 · program services $393,611 · management and general $206,864

  • 20 · Interest

    total $2,074,522 · program services $105,493 · management and general $1,969,029

  • 22 · Depreciation, depletion and amortization

    total $21,512,346 · program services $20,193,186 · management and general $1,319,160

  • 23 · Insurance

    total $34,368,869 · program services $22,515,580 · management and general $11,853,289

  • 24a · Other expenses: LICENSES AND PERMITS

    total $975,824 · program services $286,909 · management and general $688,915

  • 24b · Other expenses: RECREATIONAL ACTIVITIES

    total $597,251 · program services $175,602 · management and general $421,649

  • 24c · Other expenses: DUES AND MEMBERSHIP

    total $150,568 · program services $44,270 · management and general $106,298

  • 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 $131,124,528 · end of year $211,546,517

  • 2 · Savings and temporary cash investments

    beginning of year $351,602,534 · end of year $340,677,353

  • 3 · Pledges and grants receivable

    beginning of year $6,203,951 · end of year $3,947,537

  • 4 · Accounts receivable

    beginning of year $148,308,591 · end of year $125,941,863

  • 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 $5,600,708 · end of year $5,636,396

  • 9 · Prepaid expenses and deferred charges

    beginning of year $5,264,610 · end of year $7,923,168

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

    $778,229,046

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

    $620,995,644

  • 10c · Land, buildings and equipment, net

    beginning of year $159,149,379 · end of year $157,233,402

  • 12 · Investments: other securities

    beginning of year $41,712,730 · end of year $48,770,583

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $70,283,339 · end of year $69,817,740

  • 17 · Accounts payable and accrued expenses

    beginning of year $200,850,258 · end of year $188,092,154

  • 19 · Deferred revenue

    beginning of year $41,222,424 · end of year $41,032,532

  • 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 $25,714,412 · end of year $21,727,942

  • 25 · Other liabilities

    beginning of year $301,174,700 · end of year $309,745,368

  • 27 · Net assets without donor restrictions

    beginning of year $346,269,611 · end of year $406,877,598

  • 28 · Net assets with donor restrictions

    beginning of year $4,018,965 · end of year $4,018,965

Mission and programs · 2023

Mission

See Schedule O

Activities or mission (Part I)

TO DELIVER THE HIGHEST QUALITY OF HEALTHCARE SERVICES TO THE BRONX COMMUNITY.

  • THE HOSPITAL CENTER IS THE CENTERPIECE OF THE BRONXCARE HEALTH SYSTEM, WHICH IS THE LARGEST VOLUNTARY, NOT-FOR-PROFIT HEALTH CARE SYSTEM SERVING THE SOUTH AND CENTRAL BRONX. THE HOSPITAL CENTER HAS 619 BEDS AT TWO MAJOR HOSPITAL DIVISIONS; A MAJOR PSYCHIATRIC FACILITY; AND AN EXTENSIVE BRONXCARE NETWORK OF MEDICAL PRACTICES, AS WELL AS A 240 BED SKILLED NURSING HOME FACILITY.

    Expenses $787,130,313 · Revenue $909,431,224

As filed on the 2023 return.

Listed in Part VII

  • Mr Fredrick Gilbert

    ASSISTANT SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Mr John R Colon

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    4 + 3 related

  • Mr Miguel A Fuentes Jr

    PRESIDENT AND CEO

    Total calculated
    $2,374,107
    From this org
    $2,309,674
    From related orgs
    $0
    Other
    $64,433
    Hours/week
    40 + 5 related

    Schedule J breakdown matched by us

    Base
    $1,501,130
    Bonus
    $800,139
    Other
    $8,405
    Deferred
    $27,989
    Nontaxable benefits
    $36,444
    Filer's total
    $2,374,107

  • Ms Cristina Toosie

    VICE CHAIRPERSON/SECRETARY

    Total calculated
    $0
    Hours/week
    3

  • Ms Milagros Baez O'Toole

    ASSISTANT SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Ms Rita Dimartino

    ASSISTANT SECRETARY

    Total calculated
    $0
    Hours/week
    3 + 1 related

  • Mr David Gomez EdD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Mr Ricardo Fernandez PhD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Mr Steven Landgraber

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Mr William Aguado

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Ms Barbara A Lowe RN MPH

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Ms Lillian Herandez

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Ms Sobeida Cruz

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Mr Victor G Demarco

    SENIOR VICE PRESIDENT/CFO

    Total calculated
    $1,145,209
    From this org
    $1,079,583
    From related orgs
    $0
    Other
    $65,626
    Hours/week
    40 + 5 related

    Schedule J breakdown matched by us

    Base
    $799,678
    Bonus
    $249,000
    Other
    $30,905
    Deferred
    $27,989
    Nontaxable benefits
    $37,637
    Filer's total
    $1,145,209

  • Mr Hiram Torres

    VICE PRESIDENT-OPERATIONS

    Total calculated
    $649,853
    From this org
    $578,668
    From related orgs
    $0
    Other
    $71,185
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $442,150
    Bonus
    $135,000
    Other
    $1,518
    Deferred
    $27,989
    Nontaxable benefits
    $43,196
    Filer's total
    $649,853

  • Mr Jon Hughes

    VP - REVENUE CYCLE MGMT

    Total calculated
    $408,656
    From this org
    $354,006
    From related orgs
    $0
    Other
    $54,650
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $267,150
    Bonus
    $82,500
    Other
    $4,356
    Deferred
    $11,196
    Nontaxable benefits
    $43,454
    Filer's total
    $408,656

  • Mr Robert Sancho

    VP - EXTERNAL AFFAIRS

    Total calculated
    $630,153
    From this org
    $566,488
    From related orgs
    $0
    Other
    $63,665
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $410,908
    Bonus
    $126,900
    Other
    $28,680
    Deferred
    $27,989
    Nontaxable benefits
    $35,676
    Filer's total
    $630,153

  • Ms Erica Dusseldorp

    VICE PRESIDENT - NURSING

    Total calculated
    $430,396
    From this org
    $382,988
    From related orgs
    $0
    Other
    $47,408
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $317,436
    Bonus
    $65,000
    Other
    $552
    Deferred
    $4,498
    Nontaxable benefits
    $42,910
    Filer's total
    $430,396

  • Ms Patricia Cahill

    VICE PRESIDENT-NURSING

    Total calculated
    $463,047
    From this org
    $417,873
    From related orgs
    $0
    Other
    $45,174
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $326,375
    Bonus
    $79,200
    Other
    $12,298
    Deferred
    $27,989
    Nontaxable benefits
    $17,185
    Filer's total
    $463,047

  • Dr Gilda Diaz-Fuentes

    PHYSICIAN-PULMONARY

    Total calculated
    $977,050
    From this org
    $911,151
    From related orgs
    $0
    Other
    $65,899
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $352,419
    Bonus
    $558,000
    Other
    $732
    Deferred
    $27,989
    Nontaxable benefits
    $37,910
    Filer's total
    $977,050

  • Dr Ira Kirschenbaum

    CHAIRMAN-ORTHOPEDICS

    Total calculated
    $943,954
    From this org
    $880,599
    From related orgs
    $0
    Other
    $63,355
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $656,227
    Bonus
    $200,000
    Other
    $24,372
    Deferred
    $27,989
    Nontaxable benefits
    $35,366
    Filer's total
    $943,954

  • Dr Magdy Mikhail

    CHAIRMAN-OB/GYN & CMO

    Total calculated
    $1,412,558
    From this org
    $1,349,307
    From related orgs
    $0
    Other
    $63,251
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $271,377
    Bonus
    $1,049,250
    Other
    $28,680
    Deferred
    $27,989
    Nontaxable benefits
    $35,262
    Filer's total
    $1,412,558

  • Dr Ramesh Babu

    ASSOCIATE DIR, NEUROSURGERY

    Total calculated
    $1,326,895
    From this org
    $1,267,556
    From related orgs
    $0
    Other
    $59,339
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,266,824
    Bonus
    $0
    Other
    $732
    Deferred
    $15,194
    Nontaxable benefits
    $44,145
    Filer's total
    $1,326,895

  • Dr Sindhaghatta Venkatram

    DIRECTOR-GRADUATE MEDICAL EDUC

    Total calculated
    $982,751
    From this org
    $910,552
    From related orgs
    $0
    Other
    $72,199
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $291,760
    Bonus
    $618,000
    Other
    $792
    Deferred
    $27,989
    Nontaxable benefits
    $44,210
    Filer's total
    $982,751

  • Mr Octavio Marin

    VP - LONG TERM CARE

    Total calculated
    $161,848
    From this org
    $133,269
    From related orgs
    $0
    Other
    $28,579
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $133,269
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $28,579
    Filer's total
    $161,848

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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
MR. VICTOR G. DEMARCO AND MR. ROBERT SANCHO PARTICIPATE IN A 457(F) PLAN. THERE WERE NO CONTRIBUTIONS TO THE PLAN DURING 2023.
Schedule J, Part I, Line 7 Non-fixed payments
MR. MIGUEL A. FUENTES, JR. RECEIVED $800,139 REPRESENTING AN ANNUAL BONUS AWARDED BY THE BOARD IN RECOGNITION OF THE SIGNIFICANT CONTRIBUTIONS MADE BY MR. FUENTES. THIS BONUS IS BASED ON HIS SUCCESS IN ACHIEVING SPECIFIC TARGETS RELATED TO THE HOSPITAL'S OPERATIONS INCLUDING CONTROL OF GROWTH IN PAYROLL AND MEDICAL QUALITY PERFORMANCE. MR. VICTOR G. DEMARCO, MR. OCTAVIO MARIN, MR. HIRAM TORRES, MR. JON HUGHES, MR. ROBERT SANCHO, MS. PATRICIA CAHILL, AND MS. ERICA DUSSELRORP WERE AWARDED BONUSES BY THE PRESIDENT AND CEO FOR ACHIEVEMENT OF GOALS SET FORTH IN THE BEGINNING OF THE YEAR. PHYSICIAN BONUSES ARE DETERMINED BY THE DEPARTMENT CHAIRMAN BASED UPON THE INDIVIDUAL'S CONTRIBUTION TO THE DEPARTMENT.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • BLHC PPS LLC

    TO FACILITATE · NY · income $0 · assets $0

    Directly controlled by BRONXCARE HS

  • BRONX HEALTH ACCESS IPA INC

    TO FACILITATE · NY · income $0 · assets $0

    Directly controlled by BRONXCARE HS

  • 1660 MORRIS AVENUE LLC

    REAL EST. DEV · NY · income $0 · assets $0

    Directly controlled by BRONXCARE HS

Related corporations and trusts

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

  • BRONXCARE DEVELOPMENT CORPORATION

    C Corporation · REAL ESTATE DEV · NY · 100% owned · share of income $2 · share of assets $3,024 · controlled entity

    Directly controlled by BRONXCARE HS

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202443209349306059

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