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Nonprofiteer
← MSMC REALTY CORPORATION

Form 990 for tax year 2024

Filed by MSMC REALTY CORPORATION.

Totals

Total revenue
$1,432,247
Total expenses
$1,432,247
Contributions and grants received
$291,000
Grants paid
$0
Program service revenue
$1,141,247
Investment income
$0
Other revenue
$0
Total assets, end of year
$140,743,897
Total liabilities, end of year
$135,745,971
Net assets or fund balances, end of year
$4,997,926
Program services expenses (Part IX)
$1,432,247
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$1,432,247

Program services were 100.0% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $291,000

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $0

  • 1g · Noncash contributions included above

    $0

  • 2a · Program service revenue: RENTAL INCOME

    total $1,141,247 · related or exempt $1,141,247

  • 2f · All other program service revenue

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

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 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.

  • 11g · Fees: other

    total -$24,619 · program services -$24,619 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $1,456,866 · program services $1,456,866

  • 24a · Other expenses: RENTAL EXPENSE

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 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

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

    $125,585,070

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

    $17,627,173

  • 10c · Land, buildings and equipment, net

    beginning of year $107,628,250 · end of year $107,957,897

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $5,517,258 · end of year $32,786,000

  • 19 · Deferred revenue

    beginning of year $20,746,463 · end of year $20,746,463

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $7,798,663 · end of year $15,060,000

  • 25 · Other liabilities

    beginning of year $79,602,456 · end of year $99,939,508

  • 31 · Retained earnings, endowment or other funds

    beginning of year $4,997,926 · end of year $4,997,926

Mission and programs · 2024

Mission

MSMC REALTY CORPORATION'S MISSION IS TO SUPPORT ITS TAX EXEMPT MEMBERS BY MANAGING, MAINTAINING, HOLDING, DEVELOPING, ACQUIRING OR DISPOSING REAL PROPERTY FOR THEIR BENEFIT.

  • TO HOLD AND LEASE PROPERTY TO MOUNT SINAI HOSPITAL FOR ITS TAX EXEMPT PURPOSES.

    Expenses $1,432,247 · Revenue $1,141,247

As filed on the 2024 return.

Listed in Part VII

  • Christopher Considine

    SECRETARY

    Total calculated
    $614,889
    From this org
    $0
    From related orgs
    $550,728
    Other
    $64,161
    Hours/week
    0.5 + 59.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $500,000 related
    Bonus
    $0 + $40,200 related
    Other
    $0 + $10,528 related
    Deferred
    $0 + $27,600 related
    Nontaxable benefits
    $0 + $36,561 related
    Filer's total
    $0 + $614,889 related

  • Margaret Pastuszko

    PRESIDENT

    Total calculated
    $2,362,925
    From this org
    $0
    From related orgs
    $2,290,081
    Other
    $72,844
    Hours/week
    0.5 + 59.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,750,000 related
    Bonus
    $0 + $410,375 related
    Other
    $0 + $129,706 related
    Deferred
    $0 + $34,500 related
    Nontaxable benefits
    $0 + $38,344 related
    Filer's total
    $0 + $2,362,925 related

  • Stephen Harvey

    TREASURER (END 12/31/24)

    Total calculated
    $2,057,140
    From this org
    $0
    From related orgs
    $1,972,048
    Other
    $85,092
    Hours/week
    0.5 + 59.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,200,000 related
    Bonus
    $0 + $340,025 related
    Other
    $0 + $432,023 related
    Deferred
    $0 + $34,500 related
    Nontaxable benefits
    $0 + $50,592 related
    Filer's total
    $0 + $2,057,140 related

  • Vincent Tammaro

    TREASURER (START 10/31/24)

    Total calculated
    $689,052
    From this org
    $0
    From related orgs
    $679,061
    Other
    $9,991
    Hours/week
    0.5 + 59.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $487,500 related
    Bonus
    $0 + $121,875 related
    Other
    $0 + $69,686 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $9,991 related
    Filer's total
    $0 + $689,052 related

  • Beth Yagoda

    TRUSTEE

    Total calculated
    $582,785
    From this org
    $0
    From related orgs
    $557,324
    Other
    $25,461
    Hours/week
    0.5 + 59.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $425,000 related
    Bonus
    $0 + $99,662 related
    Other
    $0 + $32,662 related
    Deferred
    $0 + $23,073 related
    Nontaxable benefits
    $0 + $2,388 related
    Filer's total
    $0 + $582,785 related

  • Emma Palmer

    TRUSTEE

    Total calculated
    $862,567
    From this org
    $0
    From related orgs
    $791,409
    Other
    $71,158
    Hours/week
    0.5 + 59.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $637,500 related
    Bonus
    $0 + $142,375 related
    Other
    $0 + $11,534 related
    Deferred
    $0 + $34,500 related
    Nontaxable benefits
    $0 + $36,658 related
    Filer's total
    $0 + $862,567 related

  • Jeffery Silberstein

    TRUSTEE

    Total calculated
    $1,492,681
    From this org
    $0
    From related orgs
    $1,456,505
    Other
    $36,176
    Hours/week
    0.5 + 59.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,032,000 related
    Bonus
    $0 + $234,500 related
    Other
    $0 + $190,005 related
    Deferred
    $0 + $34,500 related
    Nontaxable benefits
    $0 + $1,676 related
    Filer's total
    $0 + $1,492,681 related

  • Beth Essig

    Former officer

    Total calculated
    $1,840,832
    From this org
    $0
    From related orgs
    $1,782,724
    Other
    $58,108
    Hours/week
    0 + 60 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,350,000 related
    Bonus
    $0 + $316,575 related
    Other
    $0 + $116,149 related
    Deferred
    $0 + $34,500 related
    Nontaxable benefits
    $0 + $23,608 related
    Filer's total
    $0 + $1,840,832 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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 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)

Schedule J, Part I PART VII, SECTION A & SCHEDULE J COMPENSATION FOOTNOTES
(1) HOURS REFLECT SERVICE TO ALL RELATED ORGANIZATIONS OF MOUNT SINAI HEALTH SYSTEM, INC. (2) COMPENSATION AND BENEFITS ARE FUNDED FROM THE MOUNT SINAI HOSPITAL, ICAHN SCHOOL OF MEDICINE AT MOUNT SINAI, BETH ISRAEL MEDICAL CENTER, ST. LUKE'S-ROOSEVELT HOSPITAL CENTER AND/OR NEW YORK EYE AND EAR INFIRMARY. OTHER REPORTABLE COMPENSATION FOR OFFICERS AS IDENTIFIED IN THE FORM 990, PART VII, AND LISTED ON SCHEDULE J MAY INCLUDE VARIOUS TYPES OF SUPPLEMENTAL WAGES.

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.

Related corporations and trusts

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

  • MANHATTAN MANAGEMENT SERVICES

    C Corporation · MGMT SERVICES · NY

    Directly controlled by SLR

  • SLR MANAGEMENT SERVICES

    C Corporation · MGMT SERVICES · NY

    Directly controlled by SLR

  • MOUNT SINAI HC VENTURES INC

    C Corporation · HEALTH CARE MGMT · NY

    Directly controlled by BIMC HOLDCO

  • MSHS Vaccine Company

    C Corporation · clinical lab · DE

    Directly controlled by ISMMS

  • Kantaro Biosciences LLC

    C Corporation · clinical lab · NY

    Directly controlled by ISMMS

Provenance

Return type
form_990
Tax year
2024
Filed
15 November 2025
IRS schema version
2024v5.1
Source object
202503199349302415

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