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← MITRAL FOUNDATION

Form 990 for tax year 2023

Filed by MITRAL FOUNDATION.

Totals

Total revenue
$6,366,710
Total expenses
$873,022
Contributions and grants received
$6,248,710
Grants paid
$170,624
Program service revenue
$118,000
Investment income
$0
Other revenue
$0
Total assets, end of year
$7,433,912
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$7,433,912
Program services expenses (Part IX)
$873,022
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$873,022

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.

  • 1f · All other contributions, gifts and grants

    $6,248,710

  • 1g · Noncash contributions included above

    $98,579

  • 2a · Program service revenue: WORKSHOP SERVICES

    total $118,000 · related or exempt $118,000

  • 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.

  • 1 · Grants to domestic organizations and governments

    total $170,624 · program services $170,624

  • 7 · Other salaries and wages

    total $215,351 · program services $215,351

  • 8 · Pension plan contributions

    total $10,892 · program services $10,892

  • 9 · Other employee benefits

    total $21,147 · program services $21,147

  • 10 · Payroll taxes

    total $14,656 · program services $14,656

  • 11a · Fees: management

    total $190,411 · program services $190,411

  • 11g · Fees: other

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

  • 12 · Advertising and promotion

    total $107,110 · program services $107,110

  • 13 · Office expenses

    total $61,078 · program services $61,078

  • 16 · Occupancy

    total $30,539 · program services $30,539

  • 17 · Travel

    total $51,214 · program services $51,214

  • 24e · All other expenses

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

Balance sheet

Part X, book values.

  • 3 · Pledges and grants receivable

    beginning of year $79,041 · end of year $4,400,876

  • 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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $1,861,183 · end of year $3,033,036

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 28 · Net assets with donor restrictions

    beginning of year $1,940,224 · end of year $7,433,912

Mission and programs · 2023

Mission

THE MITRAL FOUNDATION IS A SUPPORTING ORGANIZATION WITH THE PURPOSE TO SUPPORT THE MITRAL VALVE REPAIR REFERENCE CENTER AT THE MOUNT SINAI HOSPITAL.

  • MITRAL FOUNDATION IS DEDICATED TO ADVANCING THE UNDERSTANDING OF MITRAL VALVE DISEASE AND SUPPORT THE MITRAL VALVE REPAIR REFERENCE CENTER.

    Expenses $873,022 · Grants $170,624 · Revenue $118,000

As filed on the 2023 return.

Listed in Part VII

  • David H Adams MD (1)

    PRESIDENT

    Total calculated
    $6,696,865
    From this org
    $0
    From related orgs
    $6,643,574
    Other
    $53,291
    Hours/week
    0.5 + 59.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $212,097 related
    Bonus
    $0 + $650,000 related
    Other
    $0 + $5,781,477 related
    Deferred
    $0 + $21,209 related
    Nontaxable benefits
    $0 + $32,082 related
    Filer's total
    $0 + $6,696,865 related

  • Dennis Charney MD (1) (2)

    VICE PRESIDENT

    Total calculated
    $5,471,287
    From this org
    $0
    From related orgs
    $5,416,895
    Other
    $54,392
    Hours/week
    0.5 + 59.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,100,000 related
    Bonus
    $0 + $308,000 related
    Other
    $0 + $4,008,895 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $21,392 related
    Filer's total
    $0 + $5,471,287 related

  • Frederick Slagle

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Jurgen A Friedrich

    CHAIRMAN/DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Valentin Fuster MD (1)

    BOARD DIRECTOR

    Total calculated
    $1,536,454
    From this org
    $0
    From related orgs
    $1,469,119
    Other
    $67,335
    Hours/week
    0.5 + 59.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $212,097 related
    Bonus
    $0 + $115,500 related
    Other
    $0 + $1,141,522 related
    Deferred
    $0 + $21,209 related
    Nontaxable benefits
    $0 + $46,126 related
    Filer's total
    $0 + $1,536,454 related

  • Frederick R Cummings Jr

    ASSISTANT SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Mark Kostegan Fahp (1)

    VICE PRESIDENT FOR DEVELOPMENT

    Total calculated
    $1,183,233
    From this org
    $0
    From related orgs
    $1,125,387
    Other
    $57,846
    Hours/week
    0.5 + 59.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $800,000 related
    Bonus
    $0 + $154,000 related
    Other
    $0 + $171,387 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $24,846 related
    Filer's total
    $0 + $1,183,233 related

  • Stephen Harvey (1)

    TREASURER

    Total calculated
    $2,107,872
    From this org
    $0
    From related orgs
    $2,026,048
    Other
    $81,824
    Hours/week
    0.5 + 59.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,200,000 related
    Bonus
    $0 + $390,775 related
    Other
    $0 + $435,273 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $48,824 related
    Filer's total
    $0 + $2,107,872 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
  • 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 3 Arrangement used to establish the top management official's compensation
THE MOUNT SINAI HOSPITAL, A RELATED ORGANIZATION, ESTABLISHES EXECUTIVE COMPENSATION BY UTILIZING THE FOLLOWING METHODS: COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, COMPENSATION SURVEYS/STUDIES, AND APPROVAL BY THE BOARD/COMPENSATION COMMITTEE.
Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
THE DEAN, DR. DENNIS CHARNEY, WAS THE SOLE PARTICPANT IN THE ORGANIZATION'S SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN ("SERP") AND WAS PAID OUT HIS ONE TIME SERP PAYMENT OF $3,000,000 IN 2023. THE BENEFITS EARNED UNDER THE SERP ARE DESIGNED TO FUND THE DEAN'S EVENTUAL RETIREMENT. THE DEAN HAS WORKED AT MOUNT SINAI FOR 20 YEARS; 17 YEARS AS DEAN.
Schedule J, Part III PART VII, SECTION A & SCHEDULE J
COMPENSATION FOOTNOTES OFFICERS OF THE BOARDS OF TRUSTEES HOURS REFLECT SERVICE TO ALL RELATED ORGANIZATIONS OF MOUNT SINAI HEALTH SYSTEM, INC. (1) 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. (2) EMPLOYEE HAS AN OUTSTANDING LOAN REFLECTED IN SCHEDULE L, PART II OF ICAHN SCHOOL OF MEDICINE AT MOUNT SINAI FORM 990. OTHER REPORTABLE COMPENSATION FOR OFFICERS, KEY EMPLOYEES, AND HIGHEST COMPENSATED EMPLOYEES AS IDENTIFIED IN THE FORM 990, PART VII, AND LISTED ON SCHEDULE J MAY INCLUDE VARIOUS TYPES OF SUPPLEMENTAL WAGES.
Schedule J, Part III SCHEDULE J, PART I, LINES 6A & 6B
THE MOUNT SINAI HOSPITAL, A RELATED ORGANIZATION, ANSWERED YES TO QUESTIONS 6A AND 6B IN SCHEDULE J AS THE INSTITUTION UTILIZES AN INCENTIVE BASED BONUS PROGRAM FOR CERTAIN EMPLOYEES, INCLUDING SEVERAL OF THOSE EMPLOYEES LISTED IN SCHEDULE J. NET EARNINGS IS ONE OF SEVERAL METRICS UTILIZED BY THE INSTITUTION IN THE ANNUAL BONUS CALCULATION. OTHER METRICS UTILIZED IN THE INCENTIVE COMPENSATION MODEL INCLUDE THE ORGANIZATION'S PERFORMANCE ON THE JCAHO HOSPITAL CORE MEASURES, PATIENT SATISFACTION SCORES, AND OTHER ORGANIZATIONAL GOALS SUCH AS LENGTH OF STAY INITIATIVES. INDIVIDUALS THAT HAVE RESPONSIBILITIES IN RELATED ORGANIZATIONS TO THE HOSPITAL MAY HAVE INCENTIVES BASED ON THE PERFORMANCE OF THESE ORGANIZATIONS AS WELL AS THAT OF THE HOSPITAL

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.

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

    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
2023
Filed
12 November 2024
IRS schema version
2023v5.1
Source object
202403179349308030

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