Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $35,375,111

• 1d · Related organizations

  $1,487,884

• 1e · Government grants (contributions)

  $3,500,274

• 1f · All other contributions, gifts and grants

  $45,809,667

• 1g · Noncash contributions included above

  $2,623,749

• 2a · Program service revenue: NET PATIENT SERVICE

  total $8,774,693,014 · related or exempt $8,774,515,739 · unrelated business $177,275

• 2b · Program service revenue: PHARMACY SALES

  total $1,224,681,035 · related or exempt $1,221,907,441 · unrelated business $2,773,594

• 3 · Investment income

  total $128,456,267 · excluded $128,456,267

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

  total $5,502,308 · excluded $5,502,308

• 6a · Gross rents

  real property $10,719,670

• 6b · Less rental expenses

  real property $8,360,031

• 6c · Rental income or loss

  real property $2,359,639

• 6d · Net rental income or loss

  total $2,359,639 · excluded $2,359,639

• 7a · Gross sales of assets other than inventory

  securities $1,987,526,688

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

  securities $1,962,734,426

• 7c · Gain or loss

  securities $24,792,262

• 7d · Net gain or loss

  total $24,792,262 · excluded $24,792,262

• 8a · Fundraising events: gross income

  $422,230

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

  $35,375,111

• 8b · Fundraising events: direct expenses

  $1,412,185

• 8c · Net income from fundraising events

  total -$989,955 · excluded -$989,955

• 11a · Other revenue: MEDICAL CENTER REVENUE

  total $68,197,566 · related or exempt $68,197,566

• 11b · Other revenue: PROFESSIONAL REVENUE

  total $52,439,902 · related or exempt $52,439,902

• 11c · Other revenue: PROVIDER RELIEF FUND

  total $47,660,918 · related or exempt $47,660,918

• 11d · All other revenue

  total $75,511,133 · related or exempt $75,511,133

• 11e · Other revenue, total

  $243,809,519

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $1,826,026,116 · program services $1,826,026,116

• 5 · Compensation of officers, directors and key employees

  total $51,325,804 · program services $43,389,619 · management and general $6,262,749 · fundraising $1,673,436

• 7 · Other salaries and wages

  total $3,049,055,666 · program services $2,664,472,400 · management and general $383,830,512 · fundraising $752,754

• 8 · Pension plan contributions

  total $439,149,955 · program services $383,759,125 · management and general $55,390,830

• 9 · Other employee benefits

  total $309,668,326 · program services $270,609,264 · management and general $38,368,317 · fundraising $690,745

• 10 · Payroll taxes

  total $227,252,617 · program services $198,588,807 · management and general $28,663,810

• 11b · Fees: legal

  total $8,691,015 · program services $7,594,801 · management and general $1,096,214

• 11c · Fees: accounting

  total $1,221,148 · management and general $1,221,148

• 11d · Fees: lobbying

  total $1,866,738 · management and general $1,866,738

• 11e · Fees: professional fundraising services

  total $997,600 · fundraising $997,600

• 11f · Fees: investment management

  total $286,918 · management and general $286,918

• 11g · Fees: other

  total $326,039,254 · program services $59,336,785 · management and general $266,702,469

• 12 · Advertising and promotion

  total $36,469,646 · program services $31,869,659 · management and general $4,599,987

• 13 · Office expenses

  total $84,046,403 · program services $73,987,052 · management and general $8,896,328 · fundraising $1,163,023

• 14 · Information technology

  total $129,796,014 · program services $113,424,593 · management and general $16,371,421

• 16 · Occupancy

  total $276,157,901 · program services $241,325,573 · management and general $34,832,120 · fundraising $208

• 17 · Travel

  total $4,145,596 · program services $3,622,704 · management and general $522,892

• 19 · Conferences, conventions and meetings

  total $2,490,495 · program services $2,176,364 · management and general $314,131

• 20 · Interest

  total $118,381,691 · program services $103,449,980 · management and general $14,931,711

• 22 · Depreciation, depletion and amortization

  total $488,938,151 · program services $427,267,440 · management and general $61,670,711

• 24a · Other expenses: MEDICAL SUPPLIES

  total $2,400,614,174 · program services $2,097,820,083 · management and general $302,794,091

• 24b · Other expenses: TAXES AND FEES

  total $27,316,901 · program services $23,871,368 · management and general $3,445,533

• 24e · All other expenses

  total $4,759,882 · program services $4,159,508 · management and general $600,374

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $985,993 · end of year $2,356,027

• 2 · Savings and temporary cash investments

  beginning of year $2,371,441,144 · end of year $2,096,536,621

• 3 · Pledges and grants receivable

  beginning of year $309,687,115 · end of year $255,601,195

• 4 · Accounts receivable

  beginning of year $1,285,478,842 · end of year $1,280,746,155

• 8 · Inventories for sale or use

  beginning of year $206,146,369 · end of year $235,421,743

• 9 · Prepaid expenses and deferred charges

  beginning of year $66,945,256 · end of year $87,617,172

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

  $8,956,678,432

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

  $3,081,173,726

• 10c · Land, buildings and equipment, net

  beginning of year $5,311,587,511 · end of year $5,875,504,706

• 11 · Investments: publicly traded securities

  beginning of year $1,089,929,888 · end of year $1,849,738,665

• 12 · Investments: other securities

  beginning of year $545,682,567 · end of year $602,401,285

• 14 · Intangible assets

  beginning of year $12,708,505 · end of year $14,714,392

• 15 · Other assets

  beginning of year $925,692,636 · end of year $790,407,245

• 17 · Accounts payable and accrued expenses

  beginning of year $915,627,824 · end of year $1,029,137,586

• 19 · Deferred revenue

  beginning of year $101,373,913 · end of year $94,192,762

• 20 · Tax-exempt bond liabilities

  beginning of year $771,374,166 · end of year $863,165,357

• 23 · Secured mortgages and notes payable

  beginning of year $2,332,065,052 · end of year $2,352,036,395

• 25 · Other liabilities

  beginning of year $1,396,270,811 · end of year $1,373,663,780

• 27 · Net assets without donor restrictions

  beginning of year $6,084,022,647 · end of year $6,864,048,522

• 28 · Net assets with donor restrictions

  beginning of year $525,551,413 · end of year $514,800,804

The filer's explanations (Part III)

PART I, LINE 1A

FOUR OFFICERS HAVE A CAR AND DRIVER AT THEIR DISPOSAL. THEY PAY TAXES ON THE IMPUTED VALUE OF THE PERSONAL USE OF THE VEHICLE AND DRIVER.

PART I, LINE 3

THE COMPENSATION AND BENEFITS COMMITTEE DETERMINES THE COMPENSATION AND BENEFITS OF THE CEO AND REVIEWS AND APPROVES THE COMPENSATION AND BENEFITS OF THE OFFICERS AND EMPLOYEES OF THE CORPORATION AS RECOMMENDED BY THE CEO. IN SO DOING, THE COMMITTEE WILL SEEK TO COMPLY WITH BEST PRACTICES, INCLUDING MEETING THE REQUIREMENTS NECESSARY TO OBTAIN THE REBUTTABLE PRESUMPTION OF REASONABLENESS UNDER SECTION 4958 OF THE INTERNAL REVENUE CODE, WHICH INCLUDES CONSIDERING APPROPRIATE DATA AS TO COMPARABILITY, DETERMINING THAT THE TOTAL COMPENSATION IS REASONABLE IN LIGHT OF THE PERFORMANCE OF SUCH INDIVIDUAL AND THE COMPARABILITY DATA, AND CONCURRENTLY DOCUMENTING THE BASIS FOR THE COMPENSATION AND BENEFITS COMMITTEE'S DETERMINATION. THE COMPENSATION AND BENEFITS COMMITTEE SHALL HAVE AT LEAST ONE MEMBER WITH EXPERTISE AND EXPERIENCE IN THE AREA OF COMPENSATION AND/OR EMPLOYEE BENEFITS. NO MEMBER OF THE COMMITTEE MAY BE AN EMPLOYEE OF THE HOSPITAL.

PART I, LINE 4B

DR. GROSSMAN PARTICIPATED IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN ("SERP") DURING CALENDAR YEAR 2024. THE EMPLOYER CONTRIBUTION TO THIS PLAN WAS $5,269,631 FOR CALENDAR YEAR 2024. THIS AMOUNT IS REPORTED AS A SHARED COST BETWEEN NYULH AND NYU GROSSMAN SCHOOL OF MEDICINE ("SOM"). THE SERP CONTRIBUTION WAS MADE PURSUANT TO A NEGOTIATED AGREEMENT WITH DR. GROSSMAN. LINDA MILLS, PRESIDENT OF NEW YORK UNIVERSITY ("NYU"), SHALL RECEIVE UPON VESTING A PAYMENT OF ONE HUNDRED THOUSAND DOLLARS IN NON-QUALIFIED DEFERRED COMPENSATION FOR EVERY YEAR OF COMPLETED SERVICE AS PRESIDENT. EACH INSTALLMENT SHALL BE CREDITED WITH EARNINGS AT A RATE AGREED UPON BETWEEN PRESIDENT MILLS AND THE UNIVERSITY. ON 12/31/2024, THE NYU BOARD OF TRUSTEES APPROVED A $475,000 DEFERRED COMPENSATION CREDIT FOR PRESIDENT MILLS' FISCAL YEAR 2024 PERFORMANCE. THE FOLLOWING INDIVIDUALS PARTICIPATED IN A SERP DURING CALENDAR YEAR 2024. THE AMOUNTS LISTED BELOW REPRESENT THE EMPLOYER CONTRIBUTIONS TO THESE PLANS FOR CALENDAR YEAR 2024. THESE AMOUNTS ARE REPORTED AS SHARED COSTS BETWEEN NYULH AND SOM. DAFNA BAR-SAGI, PHD - $619,778; ANDREW W. BROTMAN, MD - $1,779,716; FRITZ FRANCOIS, MD - $819,811; GRACE Y. KO - $344,872; JOSEPH J. LHOTA - $711,024; VICKI MATCH SUNA, AIA - $732,030; NADER MHERABI - $711,516; AND NANCY SANCHEZ - $743,067. THE SERP CONTRIBUTIONS WERE MADE PURSUANT TO NEGOTIATED AGREEMENTS WITH THE LISTED INDIVIDUALS.

PART I, LINE 7

PER FORM 990, SCH. J, PART II (ABOVE), THE OFFICERS AND HIGHEST COMPENSATED EMPLOYEES RECEIVED COMPENSATION OVER BASE SALARY INCLUDING A BONUS DETERMINED AS REASONABLE BY THE ORGANIZATION'S COMPENSATION COMMITTEE.

FORM 990, SCHEDULE J, PART II, COL. (F)

THE FOLLOWING INDIVIDUALS' OTHER REPORTABLE COMPENSATION (COL. (B)(II)) INCLUDES A TAXABLE SERP DURING CALENDAR YEAR 2024. THIS AMOUNT INCLUDES SERP CONTRIBUTIONS REPORTED ON A PRIOR FORM 990 AS DEFERRED COMPENSATION. THIS AMOUNT IS REPORTED AS A SHARED COST BETWEEN NYULH AND SOM. DR. ROBERT I. GROSSMAN - $5,414,716; DAFNA BAR-SAGI, PHD - $676,056; ANDREW W. BROTMAN, MD - $1,870,712; FRITZ FRANCOIS, MD - $866,047; GRACE Y. KO - $360,315; JOSEPH J. LHOTA - $1,078,090; VICKI MATCH SUNA, AIA - $764,791; NADER MHERABI - $745,429; AND NANCY SANCHEZ - $769,717.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

• NYU LANGONE DIAGNOSTICS LLC

  OUTREACH TESTING · NY

Related corporations and trusts

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

• CCC 550 INSURANCE SCC

  C · SELF-INSURANCE · BB · 100% owned · share of income $280,152,000 · share of assets $1,278,516,000 · controlled entity

  Directly controlled by NYU LANGONE HOSPITALS

• LA PIETRA SRL

  C · HOLDS PROPERTY COMPRISING NYU'S FLORENCE CAMPUS · IT · controlled entity

• NIU DA ED INFOR CONSULTING CO LTD

  C · SUPPORT NYU'S PROGRAM IN CHINA · CH · controlled entity

• NYU PLUS PARIS

  C · CONTINUING AND EXECUTIVE EDUCATION · FR · controlled entity

• SHORE HILL HOUSING ASSOCIATES GP INC

  C · HOUSING · NY · 100% owned · controlled entity

  Directly controlled by NYU LANGONE HOSPITALS