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Nonprofiteer
← MOUNT SINAI MEDICAL CENTER FOUNDATION INC

Form 990 for tax year 2023

Filed by MOUNT SINAI MEDICAL CENTER FOUNDATION INC.

Totals

Total revenue
$83,418,563
Total expenses
$28,283,287
Contributions and grants received
$75,489,192
Grants paid
$16,545,137
Program service revenue
$0
Investment income
$7,929,371
Other revenue
$0
Total assets, end of year
$492,637,947
Total liabilities, end of year
$657,457
Net assets or fund balances, end of year
$491,980,490
Program services expenses (Part IX)
$25,694,920
Management and general expenses
$1,865,434
Fundraising expenses
$722,933
Program service expenses (Part III)
$25,694,920

Program services were 90.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • GINO SANTORIO

    DIRECTOR, PRESIDENT/CEO MSMC

    Total calculated
    $1,934,421
    From this org
    $0
    From related orgs
    $1,860,277
    Other
    $74,144
    Hours/week
    0.5 + 61 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,498,386 related
    Bonus
    $0 + $350,000 related
    Other
    $0 + $11,891 related
    Deferred
    $0 + $29,850 related
    Nontaxable benefits
    $0 + $44,294 related
    Filer's total
    $0 + $1,934,421 related

  • STEVEN D SONENREICH

    FORMER DIRECTOR

    Total calculated
    $1,084,684
    From this org
    $0
    From related orgs
    $1,084,684
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0 + $900,000 related
    Bonus
    $0
    Other
    $0 + $184,684 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $1,084,684 related

  • MICHAEL MILBERG

    CHIEF DEV. OFF./DIRECTOR (END 3/23)

    Total calculated
    $539,468
    From this org
    $525,562
    From related orgs
    $0
    Other
    $13,906
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $89,917
    Bonus
    $124,000
    Other
    $311,645
    Deferred
    $13,125
    Nontaxable benefits
    $781
    Filer's total
    $539,468

  • MAX SKLAR

    VICE PRESIDENT

    Total calculated
    $451,314
    From this org
    $435,262
    From related orgs
    $0
    Other
    $16,052
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $364,992
    Bonus
    $70,000
    Other
    $270
    Deferred
    $0
    Nontaxable benefits
    $16,052
    Filer's total
    $451,314

  • MICHAEL MOWATT

    AVP OF DEVELOPMENT

    Total calculated
    $208,784
    From this org
    $174,601
    From related orgs
    $0
    Other
    $34,183
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $155,780
    Bonus
    $17,104
    Other
    $1,717
    Deferred
    $17,240
    Nontaxable benefits
    $16,943
    Filer's total
    $208,784

  • DENA WILLMAN

    AVP OF DEVELOPMENT

    Total calculated
    $208,443
    From this org
    $170,958
    From related orgs
    $0
    Other
    $37,485
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $153,636
    Bonus
    $17,104
    Other
    $218
    Deferred
    $15,362
    Nontaxable benefits
    $22,123
    Filer's total
    $208,443

  • MIA OLSEN GLASSBERG

    AVP OF DEVELOPMENT

    Total calculated
    $157,027
    From this org
    $136,103
    From related orgs
    $0
    Other
    $20,924
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $135,937
    Bonus
    $0
    Other
    $166
    Deferred
    $0
    Nontaxable benefits
    $20,924
    Filer's total
    $157,027

  • IAN BEHAR

    DIRECTOR (AS OF 1/23)

    Total calculated
    $0
    Hours/week
    0.5

  • KATE BLOOM

    DIRECTOR (AS OF 1/23)

    Total calculated
    $0
    Hours/week
    0.5

  • BARRY BRODSKY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • DAVID DEUTCH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • BETH DOZORETZ

    DIRECTOR (AS OF 1/23)

    Total calculated
    $0
    Hours/week
    0.5

  • MICK DUCHON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • NORMAN S EDELCUP

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • LISA GERSH

    DIRECTOR (AS OF 1/23)

    Total calculated
    $0
    Hours/week
    0.5

  • BARTON S GOLDBERG

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • MICHAEL S GOLDBERG

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • JAY GOLDMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • MARK H HILDEBRANDT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • JEFFREY B KINDLER

    DIRECTOR (AS OF 1/23)

    Total calculated
    $0
    Hours/week
    0.5

  • R LEE KRELSTEIN

    DIRECTOR (AS OF 1/23)

    Total calculated
    $0
    Hours/week
    0.5

  • MARICRUZ LATNER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • CAROLINE BIERBAUM LEFRAK

    DIRECTOR (END 1/23)

    Total calculated
    $0
    Hours/week
    0.5

  • JORDAN LEVY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • JASON LOEB

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • ROBERT MITZMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • STANLEY O'NEAL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • JAY PARKER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • MARK REVITZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • MARC ROBERTS

    DIRECTOR (AS OF 1/23)

    Total calculated
    $0
    Hours/week
    0.5

  • ADAM ROSENFELD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • MELISSA RUBIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • IRA SAFERSTEIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • BARRY SKOLNICK

    CHAIRMAN/DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • STEPHEN TEMES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • JOSHUA WALLACK

    DIRECTOR (AS OF 1/23)

    Total calculated
    $0
    Hours/week
    0.5

  • PERRY WEITZ

    DIRECTOR (AS OF 1/23)

    Total calculated
    $0
    Hours/week
    0.5

  • DR ANTONIO FERNANDEZ

    PRESIDENT (AS OF 1/23)

    Total calculated
    $0
    Hours/week
    0.5

  • SHEILA HOLLO

    SECRETARY/DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • PAMELA LIEBMAN

    VICE PRESIDENT/DIRECTOR (AS OF 1/23)

    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

  • 1a · Tax indemnification and gross-up payments
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 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)

PART I, LINE 1A
GROSS-UP PAYMENTS FOR DISABILITY INSURANCE POLICIES AND LIFE INSURANCE POLICIES WERE PROVIDED TO ONE OFFICER. SUCH AMOUNTS WERE TREATED AS TAXABLE COMPENSATION AND INCLUDED IN THE W-2 WAGES FOR SUCH EMPLOYEES.
PART I, LINE 1B
THE DECISION-MAKING PROCESS FOR THE GROSS-UP PAYMENTS MADE PURSUANT TO THE LIFE INSURANCE AND DISABILITY POLICIES FOLLOWED THE SAME COMPENSATION PROCESS OUTLINED IN THE DISCLOSURE FOR FORM 990, PART VI, LINE 15, INCLUDING APPROVAL BY THE COMPENSATION COMMITTEE AND REVIEW BY AN INDEPENDENT CONSULTANT. APPROVAL FOR THE GROSS-UP PAYMENTS IS ALSO OUTLINED IN THE PLAN DOCUMENTS.
PART I, LINE 3
THE ORGANIZATION'S PRESIDENT/CEO IS EMPLOYED BY MOUNT SINAI MEDICAL CENTER OF FLORIDA, INC. (EIN: 59-0624424), A RELATED PARTY THAT HAS BEEN RECOGNIZED AS TAX EXEMPT AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. AS A RESULT, THE ORGANIZATION RELIED ON THE METHODS OF ESTABLISHING COMPENSATION USED BY MOUNT SINAI MEDICAL CENTER OF FLORIDA, INC. THE FOLLOWING METHODS WERE USED TO ESTABLISH SUCH COMPENSATION: - COMPENSATION COMMITTEE - INDEPENDENT COMPENSATION CONSULTANT - WRITTEN EMPLOYMENT CONTRACT - COMPENSATION SURVEY OR STUDY - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.
PART I, LINE 4A
MICHAEL MILBERG, CHIEF DEVELOPMENT OFFICER, RECEIVED A SEVERANCE PAYMENT DURING 2023 IN THE AMOUNT OF $311,264.

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.

  • MT SINAI MED CTR OF FL GUARANTEE CORP

    C · INSURANCE · CJ

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202423209349301212

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