Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $101,100

• 2a · Program service revenue: INFORMATION SYSTEM/SERVICE

  total $88,333,804 · related or exempt $88,333,804

• 2b · Program service revenue: OTHER ADMIN SUPPORT SERVICE

  total $66,278,364 · related or exempt $66,278,364

• 2c · Program service revenue: PHARMACY

  total $55,358,292 · related or exempt $55,358,292

• 2d · Program service revenue: BUILDING OPERATION

  total $47,778,317 · related or exempt $47,778,317

• 2e · Program service revenue: FINANCIAL MANAGEMENT

  total $47,556,851 · related or exempt $47,556,851

• 2f · All other program service revenue

  total $7,021,100 · related or exempt $7,021,100

• 3 · Investment income

  total $1,885,753 · excluded $1,885,753

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

  total $133,537 · excluded $133,537

• 6a · Gross rents

  real property $1,293,673

• 6b · Less rental expenses

  real property $917,566

• 6c · Rental income or loss

  real property $376,107

• 6d · Net rental income or loss

  total $376,107 · excluded $376,107

• 7a · Gross sales of assets other than inventory

  securities $389,000 · other assets $14,632

• 7b · Less cost or other basis and sales expenses

  securities $0 · other assets $0

• 7c · Gain or loss

  securities $389,000 · other assets $14,632

• 7d · Net gain or loss

  total $403,632 · excluded $403,632

• 11a · Other revenue: MISCELLANEOUS

  total $819,970 · excluded $819,970

• 11e · Other revenue, total

  $819,970

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $4,867,407 · program services $4,867,407

• 6 · Compensation of disqualified persons

  total $42,158 · program services $42,158

• 7 · Other salaries and wages

  total $113,372,441 · program services $113,372,441

• 8 · Pension plan contributions

  total $2,361,241 · program services $2,361,241

• 9 · Other employee benefits

  total $10,510,107 · program services $10,510,107

• 10 · Payroll taxes

  total $8,668,417 · program services $8,668,417

• 11a · Fees: management

  total $3,250,499 · program services $3,250,499

• 11b · Fees: legal

  total $738,510 · program services $738,510

• 11c · Fees: accounting

  total $91,496 · program services $91,496

• 11d · Fees: lobbying

  total $113,886 · program services $113,886

• 11f · Fees: investment management

  total $124,350 · program services $124,350

• 11g · Fees: other

  total $18,086,049 · program services $18,086,049

• 12 · Advertising and promotion

  total $2,983,541 · program services $2,983,541

• 13 · Office expenses

  total $3,855,514 · program services $3,855,514

• 16 · Occupancy

  total $3,935,717 · program services $3,935,717

• 17 · Travel

  total $157,565 · program services $157,565

• 20 · Interest

  total $3,169,036 · program services $3,169,036

• 22 · Depreciation, depletion and amortization

  total $27,578,713 · program services $27,578,713

• 23 · Insurance

  total $571,294 · program services $571,294

• 24a · Other expenses: DRUGS AND MEDICINE

  total $48,898,954 · program services $48,898,954

• 24b · Other expenses: MISCELLANEOUS EXPENSES

  total $22,304,592 · program services $22,304,592

• 24c · Other expenses: INTRACOMPANY

  total $19,103,520 · program services $19,103,520

• 24d · Other expenses: MACHINE RENTAL & LEASE

  total $17,671,143 · program services $17,671,143

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $12,646,691 · end of year $14,138,989

• 2 · Savings and temporary cash investments

  beginning of year $16,801,941 · end of year $16,311,902

• 4 · Accounts receivable

  beginning of year $9,536,221 · end of year $11,576,629

• 8 · Inventories for sale or use

  beginning of year $5,246,420 · end of year $5,039,859

• 9 · Prepaid expenses and deferred charges

  beginning of year $7,595,921 · end of year $11,851,985

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

  $378,383,903

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

  $166,135,359

• 10c · Land, buildings and equipment, net

  beginning of year $192,139,192 · end of year $212,248,544

• 12 · Investments: other securities

  beginning of year $0 · end of year $4,106,874

• 13 · Investments: program-related

  beginning of year $70,125,056 · end of year $76,570,377

• 15 · Other assets

  beginning of year $130,807,266 · end of year $161,977,931

• 17 · Accounts payable and accrued expenses

  beginning of year $72,794,670 · end of year $65,005,972

• 20 · Tax-exempt bond liabilities

  beginning of year $42,336,319 · end of year $41,122,413

• 21 · Escrow or custodial account liability

  beginning of year $68,034,186 · end of year $78,530,286

• 23 · Secured mortgages and notes payable

  beginning of year $45,332,285 · end of year $41,379,486

• 25 · Other liabilities

  beginning of year $179,678,903 · end of year $246,888,324

• 27 · Net assets without donor restrictions

  beginning of year $36,722,345 · end of year $38,874,171

• 28 · Net assets with donor restrictions

  beginning of year $0 · end of year $2,022,438

The filer's explanations (Part III)

PART I, LINE 3

THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS ("COMMITTEE") ESTABLISHES COMPENSATION FOR THE PRESIDENT AND CHIEF EXECUTIVE OFFICER OF THE ORGANIZATION, ALL EXECUTIVE VICE PRESIDENTS AND OTHER TOP MANAGEMENT OFFICIALS WHO REPORT DIRECTLY TO THE PRESIDENT AND CHIEF EXECUTIVE OFFICER, SUBJECT TO APPROVAL BY THE BOARD OF DIRECTORS. THE COMMITTEE USES PROFESSIONAL COMPENSATION ADVISORS WHO ARE CAPABLE OF RENDERING INDEPENDENT ADVICE AND INDEPENDENT MARKET SURVEYS. THE COMMITTEE TARGETS THE MARKET MEDIAN (50TH PERCENTILE) FOR CASH COMPENSATION; BENEFIT PROGRAMS ARE INTENDED TO BE COMPETITIVE. AFTER THE COMPENSATION PROGRAM IS DETERMINED, THE COMMITTEE-APPROVED RECOMMENDATION IS FORWARDED TO THE BOARD OF DIRECTORS FOR ITS CONSIDERATION AND APPROVAL, AND THAT IS CONTEMPORANEOUSLY SUBSTANTIATED.

PART I, LINE 4B

SUPPLEMENTAL EMPLOYEE RETIREMENT PLAN STARTED IN 2016 AND SEVERAL PERSONS LISTED IN FORM 990, PART VII, SECTION A, LINE 1A PARTICIPATED IN AND/OR RECEIVED PAYMENT FROM THE PLAN. THE FOLLOWING EMPLOYEES PARTICIPATED IN THE PLAN AND THE AMOUNTS LISTED BELOW ARE INCLUDED IN SCHEDULE J, PART II, COLUMN (C): DENNIS P. MCKENNA, PRESIDENT & CEO, $338,600 FRANCES S. ALBERT, SR.EVP COO & CFO, $81,198 ALAN S. BOULOS, EVP & DEAN ALBANY MEDICAL COLLEGE, $98,035 MATTHEW C. JONES, EVP & GENERAL COUNSEL, $58,213 NOEL C. HOGAN, SVP CORP COMPLIANCE, $28,012 KRISTOPHER P. KUSCHE, SVP & CIO, $39,881 VICTOR BECKER, SVP & CHIO, $36,974 THE FOLLOWING EMPLOYEES RECEIVED PAYMENT FROM THE PLAN AND THE AMOUNT LISTED BELOW IS INCLUDED IN SCHEDULE J, PART II, COLUMN B(III) AND WHERE APPLICABLE COLUMN (F): DENNIS P. MCKENNA, PRESIDENT & CEO, $79,689 FRANCES S. ALBERT, SR.EVP COO & CFO, $116,784 MATTHEW C. JONES, EVP & GENERAL COUNSEL, $42,481 NOEL C. HOGAN, SVP CORP COMPLIANCE, $25,778

Disregarded entities

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

• ALBANY MEDICAL PART SOUTH I LLC

  REAL ESTATE · NY · income $24,792 · assets $9,559,902

  Directly controlled by ALBANY MED HEALTH SYSTEM

• ALBANY MED SUBS LLC

  RESTAURANT · NY · income -$160,525 · assets $0

  Directly controlled by ALBANY MED HEALTH SYSTEM

Related corporations and trusts

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

• MADISON AVENUE SERVICES CORP

  C · SERVICES - OTHER (INACTIVE) · NY · 100% owned · share of income -$25 · share of assets $467 · controlled entity

  Directly controlled by ALBANY MED HEALTH SYSTEM

• COLUMBIA-GREENE SERVICES INC

  C · HEALTHCARE · NY

• VISITING NURSE ASSOCIATION OF ALBANY HOME CARE CORP

  C · HOME CARE · NY

  Directly controlled by AVCHCSG