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← ALBERT EINSTEIN COLLEGE OF MEDICINE STAFF HOUSING COMPANY INC

Form 990 for tax year 2022

Filed by ALBERT EINSTEIN COLLEGE OF MEDICINE STAFF HOUSING COMPANY INC.

Totals

Total revenue
$8,357,484
Total expenses
$8,851,601
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$7,480,239
Investment income
$69,474
Other revenue
$807,771
Total assets, end of year
$38,795,897
Total liabilities, end of year
$52,047,269
Net assets or fund balances, end of year
-$13,251,372
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$0

Listed in Part VII

  • CHRISTOPHER S PANCZNER

    SECRETARY

    Total calculated
    $1,898,457
    From this org
    $0
    From related orgs
    $1,857,333
    Other
    $41,124
    Hours/week
    0.5 + 59.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $954,591 related
    Bonus
    $0 + $310,000 related
    Other
    $0 + $592,742 related
    Deferred
    $0 + $17,000 related
    Nontaxable benefits
    $0 + $24,124 related
    Filer's total
    $0 + $1,898,457 related

  • EDWARD PFLEGING

    TREASURER

    Total calculated
    $1,347,831
    From this org
    $0
    From related orgs
    $1,085,621
    Other
    $262,210
    Hours/week
    2 + 58 related

    Schedule J breakdown matched by us

    Base
    $0 + $888,587 related
    Bonus
    $0 + $175,000 related
    Other
    $0 + $22,034 related
    Deferred
    $0 + $232,081 related
    Nontaxable benefits
    $0 + $30,129 related
    Filer's total
    $0 + $1,347,831 related

  • GORDON F TOMASELLI MD

    PRESIDENT

    Total calculated
    $1,921,154
    From this org
    $0
    From related orgs
    $1,868,132
    Other
    $53,022
    Hours/week
    1 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $885,654 related
    Bonus
    $0 + $225,000 related
    Other
    $0 + $757,478 related
    Deferred
    $0 + $19,875 related
    Nontaxable benefits
    $0 + $33,147 related
    Filer's total
    $0 + $1,921,154 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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
AS IT RELATES TO THE COMPENSATION FROM MONTEFIORE MEDICINE ACADEMIC HEALTH SYSTEM, INC. AND THE ALBERT EINSTEIN COLLEGE OF MEDICINE: THE MONTEFIORE COMPENSATION COMMITTEE REVIEWS AND APPROVES ALL FORMS OF COMPENSATION AND BENEFITS PROVIDED TO EACH EXECUTIVE (EXCEPT THOSE GENERALLY PROVIDED TO ALL MANAGEMENT LEVEL EMPLOYEES) WITH THE ASSISTANCE OF A NATIONAL INDEPENDENT COMPENSATION CONSULTING FIRM. THE CONSULTING FIRM ASSISTS THE COMPENSATION COMMITTEE WITH ITS DECISION-MAKING PROCESS TO ENSURE EXECUTIVE COMPENSATION LEVELS ARE REASONABLE AND APPROPRIATE RELATIVE TO THOSE OF OTHER SIMILAR ORGANIZATIONS. BASE SALARIES IN COLUMN B(I) ARE DETERMINED BASED ON COMPETITIVE MARKET PRACTICES FOR COMPARABLE POSITIONS WITH SIMILAR SIZE ORGANIZATIONS AND SCOPE OF RESPONSIBILITIES. BONUS AND INCENTIVE COMPENSATION IN COLUMN B(II) IS BASED ON THE ACHIEVEMENT OF PERFORMANCE GOALS. THE EXECUTIVES' COMPENSATION PROGRAM HAS A SIGNIFICANT PAY-AT-RISK COMPONENT TO ENSURE THE ALIGNMENT OF PAY AND ORGANIZATIONAL PEROFRMANCE. GOALS ARE SET IN ADVANCE IN AREAS SUCH AS QUALITY OF CARE, PATIENT SATISFACTION, COMMUNITY SERVICES AND FINANCIAL PERFORMANCE. COMPENSATION IS AT RISK IF THE GOALS ESTABLISHED BY THE COMPENSATION COMMITTEE ARE NOT MET.
Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
IN A MANNER DESIGNED TO QUALIFY FOR THE "REBUTTABLE PRESUMPTION OF REASONABLENESS" THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES EXPRESSLY REVIEWED AND APPROVED THESE RETIREMENT BENEFIT ARRANGEMENTS FOR SENIOR EXECUTIVES IN A MANNER THAT QUALIFIED UNDER THE INTERMEDIATE SANCTIONS RULES OF THE FEDERAL TAX LAW, AND IN RECOGNITION OF (A) THE EXECUTIVES' YEARS OF SERVICE TO THE ORGANIZATION AND (B) THE SIGNIFICANT CONTRIBUTIONS TO ENHANCING THE ABILITY OF THE ORGANIZATION TO ACHIEVE ITS CHARITABLE MISSION IN A MANNER CONSISTENT WITH FINANCIAL SOLVENCY. ACCORDINGLY, THIS BENEFIT SHOULD BE VIEWED AS APPLYING TO YEARS OF SERVICE FOR THE ORGANIZATION. POOLED SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN DISTRIBUTIONS BASED ON MULTIPLE YEARS OF SERVICE AND PAID OUT IN 2022 AS TAXABLE INCOME: CHRISTOPHER PANCZNER - $558,708; GORDON F. TOMASELLI, M.D. - $533,430. THE HEALTH SYSTEM ALSO FUNDS A SECOND DEFINED CONTRIBUTION SERP PLAN. AN OFFICER OF THE ORGANIZATION CURRENTLY PARTICIPATES IN THIS PLAN. CONTRIBUTIONS ARE AT A FIXED PERCENTAGE OF BASE SALARY OR TOTAL CASH COMPENSATION (BASE SALARY PLUS ANNUAL INCENTIVE AWARD). A NOTIONAL BALANCE IS DEVELOPED FOR EACH PARTICIPANT THAT IS THE TOTAL OF CONTRIBUTIONS LESS DISTRIBUTIONS (INTEREST IS NOT ACCRUED). ON JANUARY 1 FOLLOWING THE THIRD, SIXTH AND NINTH ANNIVERSARIES OF EACH PARTICIPANT'S PARTICIPATION DATE, 50% OF THE REMAINING SERP ACCOUNT BECOMES VESTED AND IS PAID OUT IF THE PARTICIPANT IS EMPLOYED ON THAT DATE. ON JANUARY 1 FOLLOWING THE TWELFTH ANNIVERSARY OF EACH PARTICIPANT'S PARTICIPATION DATE, THE REMAINDER OF THE SERP ACCOUNT BECOMES FULLY VESTED AND IS PAID OUT. IF A PARTICIPANT REACHES AGE 65 BEFORE THEIR TWELFTH ANNIVERSARY OF THEIR PARTICIPATION DATE, THEIR SERP ACCOUNT BALANCE WILL BECOME FULLY VESTED ON THE LATER OF THE FIRST OF THE MONTH FOLLOWING THEIR 65TH BIRTHDAY OR THE THIRD ANNIVERSARY OF THEIR PARTICIPATION DATE. SERP ACCOUNT BALANCES WILL ALSO BECOME FULLY VESTED UPON THE EARLIEST OF DEATH OR DISABILITY WHILE EMPLOYED BY MONTEFIORE, INVOLUNTARY TERMINATION WITHOUT CAUSE OR IF MONTEFIORE CHOOSES TO TERMINATE THE PLAN. IN 2022, THE PARTICIPATING OFFICER WAS NOT PAID A TAXABLE DISTRIBUTION FROM THE PLAN. HIS UNVESTED 2022 ACCCRUED BENEFITS WAS REPORTED IN HIS COLUMN (C) DEFERRED COMPENSATION: EDWARD PFLEGING - $215,081.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
22 January 2024
IRS schema version
2022v5.0
Source object
202440229349301254

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