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← FOUNDATION OF NEW YORK-PRESBYTERIAN HUDSON VALLEY HOSPITAL

Form 990 for tax year 2022

Filed by FOUNDATION OF NEW YORK-PRESBYTERIAN HUDSON VALLEY HOSPITAL.

Totals

Total revenue
$271,924
Total expenses
$31,675
Contributions and grants received
$253,872
Grants paid
$21,033
Program services expenses (Part IX)
$21,033
Management and general expenses
$0
Fundraising expenses
$10,642
Program service expenses (Part III)
$21,033

Program services were 66.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • KAREN WESTERVELT

    DIRECTOR/PRESIDENT

    Total calculated
    $1,460,255
    From this org
    $0
    From related orgs
    $1,398,488
    Other
    $61,767
    Hours/week
    1 + 59 related

    Schedule J breakdown matched by us

    Base
    $0 + $748,520 related
    Bonus
    $0 + $521,738 related
    Other
    $0 + $128,231 related
    Deferred
    $0 + $22,406 related
    Nontaxable benefits
    $0 + $39,361 related
    Filer's total
    $0 + $1,460,255 related

  • SHARON MANDEL

    DIRECTOR/TREASURER

    Total calculated
    $452,495
    From this org
    $0
    From related orgs
    $361,041
    Other
    $91,454
    Hours/week
    1 + 59 related

    Schedule J breakdown matched by us

    Base
    $0 + $317,996 related
    Bonus
    $0 + $38,500 related
    Other
    $0 + $4,545 related
    Deferred
    $0 + $44,885 related
    Nontaxable benefits
    $0 + $46,569 related
    Filer's total
    $0 + $452,495 related

  • STACEY PETROWER

    DIRECTOR

    Total calculated
    $972,830
    From this org
    $0
    From related orgs
    $914,754
    Other
    $58,076
    Hours/week
    1 + 59 related

    Schedule J breakdown matched by us

    Base
    $0 + $554,521 related
    Bonus
    $0 + $283,749 related
    Other
    $0 + $76,484 related
    Deferred
    $0 + $36,109 related
    Nontaxable benefits
    $0 + $21,967 related
    Filer's total
    $0 + $972,829 related

  • MARY BRAUNSDORF

    SECRETARY

    Total calculated
    $209,317
    From this org
    $0
    From related orgs
    $183,554
    Other
    $25,763
    Hours/week
    0.5 + 34.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $171,740 related
    Bonus
    $0 + $10,120 related
    Other
    $0 + $1,694 related
    Deferred
    $0 + $11,968 related
    Nontaxable benefits
    $0 + $13,795 related
    Filer's total
    $0 + $209,318 related

  • ELLEN C BLOOM

    FORMER EXECUTIVE DIRECTOR

    Total calculated
    $236,003
    From this org
    $0
    From related orgs
    $196,483
    Other
    $39,520
    Hours/week
    0 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $187,628 related
    Bonus
    $0 + $7,679 related
    Other
    $0 + $1,176 related
    Deferred
    $0 + $10,721 related
    Nontaxable benefits
    $0 + $28,799 related
    Filer's total
    $0 + $236,003 related

  • GARY J ZUAR

    FORMER OFFICER

    Total calculated
    $912,714
    From this org
    $0
    From related orgs
    $912,262
    Other
    $452
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0 + $26,835 related
    Bonus
    $0 + $380,303 related
    Other
    $0 + $505,124 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $452 related
    Filer's total
    $0 + $912,715 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 — 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

  • 4b · Supplemental nonqualified retirement plan

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN AS REPORTED ON THE W-2: GARY ZUAR :$477,510
Schedule J, Part I PART VII AND SCHEDULE J SUPPLEMENTAL INFORMATION
NEWYORK-PRESBYTERIAN/HUDSON VALLEY FOUNDATION (THE "CORPORATION") HAS NO EMPLOYEES. CERTAIN INDIVIDUALS IDENTIFIED HEREIN AS OFFICERS/DIRECTORS, 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 OFFICER/DIRECTORS 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 2022 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 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 CURRENT TRUSTEES 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.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202313179349302451

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