Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $1,210,791

• 1f · All other contributions, gifts and grants

  $253,740,134

• 1g · Noncash contributions included above

  $17,129,963

• 2a · Program service revenue: RENTAL INCOME

  total $1,429,793 · related or exempt $1,429,793

• 2b · Program service revenue: INSURANCE PREMIUMS

  total $111,440,494 · related or exempt $111,440,494

• 2f · All other program service revenue

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

• 3 · Investment income

  total $6,589,744 · unrelated business $36,112 · excluded $6,553,632

• 6c · Rental income or loss

  real property $0 · personal property $0

• 7a · Gross sales of assets other than inventory

  securities $11,843,605

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

  securities $11,907,183

• 7c · Gain or loss

  securities -$63,578 · other assets $0

• 7d · Net gain or loss

  total -$63,578 · excluded -$63,578

• 8a · Fundraising events: gross income

  $2,259,694

• 8a · Fundraising events: contributions included on line 1c

  $1,210,791

• 8b · Fundraising events: direct expenses

  $1,148,824

• 8c · Net income from fundraising events

  total $1,110,870 · excluded $1,110,870

• 11d · All other revenue

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

• 11e · Other revenue, total

  $0

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $98,222,314 · program services $98,222,314

• 2 · Grants to domestic individuals

  total $1,687,188 · program services $1,687,188

• 4 · Benefits paid to or for members

  total $0 · program services $0

• 5 · Compensation of officers, directors and key employees

  total $3,326,201 · management and general $2,157,833 · fundraising $1,168,368

• 7 · Other salaries and wages

  total $14,396,548 · management and general $1,666,255 · fundraising $12,730,293

• 8 · Pension plan contributions

  total $1,079,357 · management and general $124,925 · fundraising $954,432

• 9 · Other employee benefits

  total $3,940,076 · management and general $727,715 · fundraising $3,212,361

• 10 · Payroll taxes

  total $1,416,018 · management and general $303,435 · fundraising $1,112,583

• 11b · Fees: legal

  total $305,883 · management and general $305,883

• 11c · Fees: accounting

  total $166,968 · management and general $166,968

• 11e · Fees: professional fundraising services

  total $899,541 · fundraising $899,541

• 11f · Fees: investment management

  total $40,148 · management and general $40,148

• 11g · Fees: other

  total $4,336,023 · program services $0 · management and general $155,739 · fundraising $4,180,284

• 13 · Office expenses

  total $1,210,267 · management and general $137,109 · fundraising $1,073,158

• 14 · Information technology

  total $238,682 · management and general $155,200 · fundraising $83,482

• 16 · Occupancy

  total $2,339,968 · program services $1,429,793 · management and general $124,636 · fundraising $785,539

• 17 · Travel

  total $192,478 · management and general $23,681 · fundraising $168,797

• 19 · Conferences, conventions and meetings

  total $31,936 · management and general $0 · fundraising $31,936

• 23 · Insurance

  total $107,697,004 · program services $107,697,004

• 24a · Other expenses: FUNDRAISING EVENTS

  total $1,328,463 · fundraising $1,328,463

• 24b · Other expenses: OTHER

  total $170,197 · management and general $410 · fundraising $169,787

• 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 $21,257,428 · end of year $17,839,274

• 2 · Savings and temporary cash investments

  beginning of year $121,984,456 · end of year $43,177,902

• 3 · Pledges and grants receivable

  beginning of year $398,997,897 · end of year $455,816,906

• 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 $1,259,635 · end of year $1,259,635

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

  $0

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

  $0

• 10c · Land, buildings and equipment, net

  beginning of year $37,500 · end of year $0

• 11 · Investments: publicly traded securities

  beginning of year $588,216 · end of year $624,992

• 12 · Investments: other securities

  beginning of year $20,043,354 · end of year $17,514,334

• 13 · Investments: program-related

  beginning of year $161,248,083 · end of year $195,386,992

• 15 · Other assets

  beginning of year $2,636,874,218 · end of year $2,928,408,664

• 17 · Accounts payable and accrued expenses

  beginning of year $407,159 · end of year $422,469

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 25 · Other liabilities

  beginning of year $87,550,167 · end of year $50,720,904

• 27 · Net assets without donor restrictions

  beginning of year $751,547,483 · end of year $823,088,698

• 28 · Net assets with donor restrictions

  beginning of year $2,522,785,978 · end of year $2,785,796,628

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation

COMPENSATION DECISIONS FOR THE PRESIDENT WAS DETERMINED BY A RELATED ORGANIZATION FOLLOWING THAT ORGANIZATION'S COMPENSATION POLICY.

Schedule J, Part I, Line 4a Severance or change-of-control payment

RECEIVED SEVERANCE PAY: William Lee: 657,692 Sara Lesser Avins: 206,615

Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan

PARTICIPATED IN SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN: STEVEN CORWIN : 577,589 SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN AS REPORTED ON THE W2: HERBERT PARDES : 36,182 STEVEN CORWIN : 1,354,877

Schedule J, Part I PART VII AND SCHEDULE J SUPPLEMENTAL INFORMATION

NEW YORK-PRESBYTERIAN FUND INC.(THE "CORPORATION")HAS NO EMPLOYEES. CERTAIN INDIVIDUALS IDENTIFIED HEREIN AS OFFICERS, KEY EMPLOYEES AND HIGHEST COMPENSATED EMPLOYEES OF THE CORPORATION ARE EMPLOYED AND COMPENSATED BY A RELATED ORGANIZATION, THE NEW YORK AND PRESBYTERIAN HOSPITAL (THE "HOSPITAL"). THESE INDIVIDUALS PERFORM SERVICES FOR THE CORPORATION, AND IN SOME CASES OTHER RELATED ORGANIZATIONS, BY ARRANGEMENT BETWEEN THE HOSPITAL AND SUCH ORGANIZATION(S). THE OFFICERS AND KEY EMPLOYEES IDENTIFIED IN PART VII ARE RESPONSIBLE FOR EXECUTING THE MISSION AND MANAGEMENT OF THE NEW YORK AND PRESBYTERIAN HOSPITAL (NYP) AND ITS AFFILIATED ENTITIES. COMPENSATION FOR 2023 OF THESE UPPER LEVEL EXECUTIVES INCLUDES THE PAYOUT OF AN ANNUAL INCENTIVE PLAN AND A LONG-TERM INCENTIVE PLAN. THIS PERFORMANCE ORIENTED PROGRAM CONDITIONS PAYMENTS UPON THE ACHIEVEMENT OF MULTIPLE INDIVIDUAL AND GROUP PERFORMANCE MEASURES. MEASURES TO MONITOR PERFORMANCE INCLUDE: OPERATIONAL AND FINANCIAL STRENGTH, PATIENT QUALITY AND SAFETY, PATIENT SATISFACTION, ADVANCEMENT OF PATIENT CARE, AND PEOPLE DEVELOPMENT AND PARTNERSHIP. INCENTIVE AWARDS MAY ONLY BE GRANTED IF THE ORGANIZATION ACHIEVES A FINANCIAL SURPLUS. EVEN IF ALL RELEVANT PERFORMANCE MEASUREMENTS ARE ACHIEVED, THE NYP BOARD OF TRUSTEES RETAINS FULL DISCRETION TO MAKE OR NOT MAKE ANY INCENTIVE AWARDS, OR TO REDUCE THE AMOUNT OF ANY INCENTIVE AWARD. THIS INITIATIVE IS CRITICAL TO ASSURING THAT NYP HAS THE REQUISITE LEADERSHIP TO CREATE AND MANAGE A HIGHLY MOTIVATED AND ENGAGED WORKFORCE, TO DRIVE SUPERIOR PERFORMANCE THROUGHOUT THE ORGANIZATION AND TO ACHIEVE TOP TIER MEDICAL CENTER STATUS. AS A SEPARATE MATTER, DUE TO RESTRICTIONS IMPOSED BY THE INTERNAL REVENUE CODE, UPPER LEVEL EXECUTIVES ARE LIMITED IN THE AMOUNT OF BENEFITS RECEIVED UNDER A TAX-QUALIFIED RETIREMENT PLAN. LIKE MANY EMPLOYERS, NYP SUPPLEMENTS THESE EXECUTIVES' PENSION BENEFITS THROUGH A SUPPLEMENTAL ("NONQUALIFIED") RETIREMENT PLAN. THE SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP) IS SUBJECT TO A MULTI-YEAR VESTING REQUIREMENT (COMMENCING) AFTER FIVE YEARS OF PARTICIPATION IN THE SERP, IN PRORATED AMOUNTS THROUGH AGE 65) WHICH PLACES AN EXECUTIVE'S SUPPLEMENTAL RETIREMENT BENEFIT AT RISK OF FORFEITURE IF THE VESTING REQUIREMENTS ARE NOT SATISFIED. ONCE VESTED, HOWEVER, PROVISIONS OF THE INTERNAL REVENUE CODE REQUIRE THAT THE VESTED EXECUTIVE INCLUDE IN CURRENT INCOME THE VALUE OF HIS OR HER VESTED SUPPLEMENTAL RETIREMENT BENEFIT. NOTWITHSTANDING THE LEGAL REQUIREMENT TO RECOGNIZE THE VESTED VALUE OF THE SUPPLEMENTAL RETIREMENT BENEFIT AS CURRENT INCOME, THE SUPPLEMENTAL RETIREMENT BENEFIT WILL NOT BE DISTRIBUTED TO THE EXECUTIVE UNTIL THE EXECUTIVE ACTUALLY RETIRES FROM NYP (ALTHOUGH, AS PERMITTED BY THE INTERNAL REVENUE CODE, THE SUPPLEMENTAL RETIREMENT PLAN WILL EFFECT A DISTRIBUTION OF AN AMOUNT NECESSARY TO SATISFY THE EXECUTIVE'S TAX LIABILITY RESULTING FROM THE INCOME RECOGNITION UPON VESTING). AS NOTED, THIS SUPPLEMENTAL RETIREMENT BENEFIT WILL NOT BE DISTRIBUTED TO THE EXECUTIVE UNTIL THE EXECUTIVE ACTUALLY RETIRES FROM NYP. THERE ARE CONSTANTLY CHANGING LEGAL, TAX, ACCOUNTING, AND PUBLIC DISCLOSURE RULES FOR A SERP (SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN) IN NOT-FOR-PROFIT ORGANIZATIONS. THE EXECUTIVE COMPENSATION COMMITTEE CONTINUOUSLY MONITORS THESE CHANGES AND INCORPORATES ANY CHANGES INTO THE OVERALL SERP PLAN DESIGN. AS IN PAST YEARS, THE EXECUTIVE COMPENSATION COMMITTEE OF NYP REQUIRES A THIRD PARTY TO COMPLETE A REVIEW OF THE ORGANIZATION'S COMPENSATION PROGRAM TO ENSURE ITS EFFECTIVENESS IN TERMS OF GOVERNMENT REGULATIONS, MARKET CONDITIONS AND THE NEED TO CONTINUALLY ELEVATE ORGANIZATIONAL PERFORMANCE. THE REPORT ALSO SERVES TO MEET THE REGULATORY OBLIGATIONS TO ENSURE THAT ALL ELEMENTS OF THE EXECUTIVE COMPENSATION PROGRAMS ARE REASONABLE. EACH OF THE OFFICERS AND KEY EMPLOYEES LISTED DEVOTES AN AVERAGE OF SIXTY HOURS PER WEEK TO PERFORM HIS OR HER RESPONSIBILITIES FOR THE REPORTING ENTITY AND OTHER RELATED ORGANIZATIONS IN THE AGGREGATE.

Related corporations and trusts

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

• NYP PROGRAMS INC

  C Corporation · HEALTH CARE · NY · controlled entity

  Directly controlled by NYP FOUNDATION

• NYP SERVICES INC

  C Corporation · HEALTH CARE · NY · controlled entity

  Directly controlled by NYP FOUNDATION

• NEW YORK-PRESBYTERIAN GLOBAL INC

  C Corporation · INACTIVE · NY · controlled entity

  Directly controlled by NYP FOUNDATION

• HARKNESS HALL CLUB INC

  C Corporation · INACTIVE · NY · controlled entity

  Directly controlled by NYP HOSPITAL

• VERNON HILLS MEDICAL PRACTICE PC

  C Corporation · INACTIVE · NY · controlled entity

  Directly controlled by NYP HOSPITAL

• NYP GLOBAL SERVICES INC

  C Corporation · INACTIVE · NY · 100% owned · share of income $0 · share of assets $0 · controlled entity

  Directly controlled by NYP FUND INC

• HUDSON VALLEY VENTURES INC

  C Corporation · INACTIVE · NY · controlled entity

  Directly controlled by WESTCHESTER PUT

• AC VENTURES INC

  C Corporation · REAL ESTATE · NY · controlled entity

  Directly controlled by WESTCHESTER PUT

• KNOWA VENTURES INC

  C Corporation · INACTIVE · NY · controlled entity

  Directly controlled by WESTCHESTER PUT

• MSO OF KINGS COUNTY LLC

  C Corporation · EMPLOY/STAFFING · NY · controlled entity

  Directly controlled by NYP HOSPITAL

• LC SERVICES CORPORATION

  C Corporation · INACTIVE · NY · controlled entity

  Directly controlled by LAWRENCE CARE

• NETWORK INSURANCE COMPANY LTD

  C Corporation · REINSURANCE · BD

  Directly controlled by NYP SYSTEMS INC

• MATILDA DANZIGER

  Trust · BENEFICIAL IN · NY · 100% owned · share of income $16,781 · share of assets $435,876

  Directly controlled by NYP FUND INC

• EDWIN GOULD

  Trust · BENEFICIAL IN · NY · 100% owned · share of income $5,935 · share of assets $177,195

  Directly controlled by NYP FUND INC

• PETER AND ESTHER JACKSON MEMORIAL TRUST

  Trust · BENEFICIAL IN · NY · 100% owned · share of income $52,496 · share of assets $1,135,543

  Directly controlled by NYP FUND INC

• WILLIAM STRONG

  Trust · BENEFICIAL IN · NJ · 100% owned · share of income $260,549 · share of assets $5,044,721

  Directly controlled by NYP FUND INC

• HELEN SWAN

  Trust · BENEFICIAL IN · NY · 100% owned · share of income $279,867 · share of assets $6,708,175

  Directly controlled by NYP FUND INC

• SOC OF NY HOSP TRUST PHILIP WOODWARD

  Trust · BENEFICIAL IN · NY · 100% owned · share of income $54,116 · share of assets $1,352,912

  Directly controlled by NYP FUND INC

• EDWIN HOFFRITZ OPTHALMOLOGY FBO NY HOSP

  Trust · BENEFICIAL IN · NY · 100% owned · share of income $6,258 · share of assets $255,961

  Directly controlled by NYP FUND INC

• (6) CHARITABLE REMAINDER TRUST

  Trust · BENEFICIAL IN · NY

  Directly controlled by NYP FUND INC

• CRT SURGICAL ASSOCIATES PC

  C Corporation · INACTIVE · NY · controlled entity

  Directly controlled by NYPQUEENS