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Nonprofiteer
← MONTEFIORE EINSTEIN ADVANCED CARE

Form 990 for tax year 2023

Filed by MONTEFIORE EINSTEIN ADVANCED CARE.

Totals

Total revenue
$49,590,479
Total expenses
$67,948,982
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$47,934,211
Investment income
$0
Other revenue
$1,656,268
Total assets, end of year
$35,903,185
Total liabilities, end of year
$63,258,693
Net assets or fund balances, end of year
-$27,355,508
Program services expenses (Part IX)
$64,448,471
Management and general expenses
$3,500,511
Fundraising expenses
$0
Program service expenses (Part III)
$64,448,471

Program services were 94.8% 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.

  • 2a · Program service revenue: PHYSICIAN MEDICAL SERVICES

    total $47,934,211 · related or exempt $47,934,211

  • 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

  • 11a · Other revenue: Intercompany Shared Services

    total $1,453,409 · related or exempt $1,453,409

  • 11b · Other revenue: Testimony Review Fees

    total $202,859 · related or exempt $202,859

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $1,656,268

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $31,558,211 · program services $31,558,211 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $1,064,183 · program services $1,064,183 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $6,188,942 · program services $6,188,942 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $1,859,168 · program services $1,859,168 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $20,805 · program services $20,805 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $3,552,184 · program services $2,980,795 · management and general $571,389 · fundraising $0

  • 12 · Advertising and promotion

    total $2,792,329 · program services $9,867 · management and general $2,782,462 · fundraising $0

  • 13 · Office expenses

    total $899,742 · program services $753,082 · management and general $146,660 · fundraising $0

  • 14 · Information technology

    total $125,708 · program services $125,708 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $8,244,064 · program services $8,244,064 · management and general $0

  • 17 · Travel

    total $57,091 · program services $57,091 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $29,183 · program services $29,183 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $2,376,393 · program services $2,376,393 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $872,283 · program services $872,283 · management and general $0 · fundraising $0

  • 24a · Other expenses: INTERCOMPANY SHARED SERVICES

    total $4,661,520 · program services $4,661,520 · management and general $0 · fundraising $0

  • 24b · Other expenses: BILLING

    total $2,506,611 · program services $2,506,611 · management and general $0 · fundraising $0

  • 24c · Other expenses: MEDICAL SUPPLIES

    total $1,132,452 · program services $1,132,452 · management and general $0 · fundraising $0

  • 24d · Other expenses: MOVING EXPENSES

    total $6,551 · program services $6,551 · fundraising $0

  • 24e · All other expenses

    total $1,562 · program services $1,562 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $243,737 · end of year $98,704

  • 4 · Accounts receivable

    end of year $9,319

  • 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

  • 8 · Inventories for sale or use

    beginning of year $58 · end of year $58

  • 9 · Prepaid expenses and deferred charges

    end of year $79,296

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

    $40,210,073

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

    $4,494,265

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $35,715,808

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,968,014 · end of year $2,201,337

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $5,272,786 · end of year $61,057,356

  • 27 · Net assets without donor restrictions

    beginning of year -$8,997,005 · end of year -$27,355,508

Mission and programs · 2023

Mission

TO DELIVER ACADEMIC QUALITY SPECIALTY AND SUBSPECIALTY PATIENT-FOCUSED CARE IN LOWER WESTCHESTER COUNTY AND THE HUDSON VALLEY IN SUPPORT OF MONTEFIORE HEALTH SYSTEM.

  • WITH THE OPENING OF MONTEFIORE EINSTEIN ADVANCED CARE WE ARE BRINGING ADVANCED DIAGNOSTIC AND INNOVATIVE TREATMENT TO WESTCHESTER COUNTY, NEW YORK. OUR GLOBALLY AND LOCALLY RENOWNED PHYSICIANS AND SPECIALIST TEAMS ARE PROVIDING CENTRALIZED COMPREHENSIVE CARE IN MORE THAN A DOZEN SPECIALTIES AT MONTEFIORE'S NEWEST STATE OF THE ART FACILITY. THIS FACILITY WILL OFFER PATIENTS ACCESS TO A PREMIER MULTI-SPECIALTY PRACTICE CLOSER TO WHERE THEY LIVE AND WORK AND ALLOW THEM TO SEE MULTIPLE SPECIALISTS IN ONE CONVENIENT LOCATION.

    Expenses $64,448,471 · Revenue $49,590,479

As filed on the 2023 return.

Listed in Part VII

  • Andrew Racine MD

    PRESIDENT

    Total calculated
    $2,267,158
    From this org
    $0
    From related orgs
    $2,220,206
    Other
    $46,952
    Hours/week
    5 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,263,916 related
    Bonus
    $0 + $494,200 related
    Other
    $0 + $462,090 related
    Deferred
    $0 + $17,000 related
    Nontaxable benefits
    $0 + $29,952 related
    Filer's total
    $0 + $2,267,158 related

  • Christopher S Panczner

    SECRETARY

    Total calculated
    $1,872,945
    From this org
    $0
    From related orgs
    $1,826,063
    Other
    $46,882
    Hours/week
    2 + 58 related

    Schedule J breakdown matched by us

    Base
    $0 + $952,555 related
    Bonus
    $0 + $234,923 related
    Other
    $0 + $638,585 related
    Deferred
    $0 + $17,000 related
    Nontaxable benefits
    $0 + $29,882 related
    Filer's total
    $0 + $1,872,945 related

  • Jeffrey Short

    TREASURER (SEPARATED 1/6/2023)

    Total calculated
    $14,922
    From this org
    $0
    From related orgs
    $13,830
    Other
    $1,092
    Hours/week
    2 + 58 related

  • Peter Semczuk

    TREASURER (APPOINTED 1/7/2023)

    Total calculated
    $2,019,486
    From this org
    $0
    From related orgs
    $1,646,419
    Other
    $373,067
    Hours/week
    2 + 58 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,248,894 related
    Bonus
    $0 + $375,000 related
    Other
    $0 + $22,525 related
    Deferred
    $0 + $343,115 related
    Nontaxable benefits
    $0 + $29,952 related
    Filer's total
    $0 + $2,019,486 related

  • Carol Romer

    DIRECTOR OF OPERATIONS

    Total calculated
    $217,091
    From this org
    $194,796
    From related orgs
    $0
    Other
    $22,295
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $194,796
    Bonus
    $0
    Other
    $0
    Deferred
    $4,062
    Nontaxable benefits
    $18,233
    Filer's total
    $217,091

  • Leora Youssefzadeh

    CLINICAL MANAGER PHYS ASST SVC

    Total calculated
    $152,420
    From this org
    $132,690
    From related orgs
    $0
    Other
    $19,730
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,690
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $19,730
    Filer's total
    $152,420

  • Susan Pedersen

    CLINICAL MANAGER

    Total calculated
    $159,872
    From this org
    $132,744
    From related orgs
    $0
    Other
    $27,128
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,744
    Bonus
    $0
    Other
    $0
    Deferred
    $2,544
    Nontaxable benefits
    $24,584
    Filer's total
    $159,872

  • Tatiana Allen

    DIRECTOR REVENUE CYCLE

    Total calculated
    $223,887
    From this org
    $173,399
    From related orgs
    $0
    Other
    $50,488
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $173,399
    Bonus
    $0
    Other
    $0
    Deferred
    $5,943
    Nontaxable benefits
    $44,545
    Filer's total
    $223,887

  • Yadira Dominguez

    PRACTICE MANAGER

    Total calculated
    $154,783
    From this org
    $132,729
    From related orgs
    $0
    Other
    $22,054
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,729
    Bonus
    $0
    Other
    $0
    Deferred
    $4,081
    Nontaxable benefits
    $17,973
    Filer's total
    $154,783

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 4b Supplemental nonqualified retirement plan
AS IT RELATES TO COMPENSATION FROM THE MONTEFIORE HEALTH SYSTEMS: THE MONTEFIORE COMPENSATION COMMITTEE REVIEWS AND APPROVES ALL FORMS OF COMPENSATION AND BENEFITS PROVIDED TO EACH EXECUTIVE 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 SIMILARLY SITUATED ORGANIZATIONS. THE COMPENSATION COMMITTEE IS COMPRISED OF INDEPENDENT MEMBERS OF THE BOARD OF TRUSTEES. BASE SALARIES IN COLUMN B(I) ARE DETERMINED BASED ON COMPETITIVE MARKET PRACTICES FOR POSITIONS WITH COMPARABLE SCOPE OF RESPONSIBILITIES WITHIN A PEER GROUP OF SIMILARLY SITUATED HEALTH SYSTEMS. 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 PERFORMANCE. GOALS ARE SET IN ADVANCE IN AREAS SUCH AS QUALITY OF PATIENT CARE, PATIENT SATISFACTION, COMMUNITY SERVICES AND FINANCIAL PERFORMANCE. COMPENSATION IS AT RISK IF THE GOALS ESTABLISHED BY THE COMPENSATION COMMITTEE ARE NOT MET. OTHER REPORTABLE COMPENSATION IN COLUMN B(III) INCLUDES DISTRIBUTIONS FROM THE SUPPLEMENTAL EXECUTIVE 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 ALL COMPENSATION AND BENEFITS ARRANGEMENTS, INCLUDING 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 AS PAID BY A RELATED ORGANIZATION: ANDREW RACINE, M.D., PH.D. - $436,739; CHRISTOPHER PANCZNER - $616,551.

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.

  • UNIVERSITY BEHAVIORAL ASSOCIATES INC

    C Corporation · MGMT SERVICES · NY · controlled entity

    Directly controlled by NA

  • THE MONTEFIORE IPA INC

    C Corporation · INTEG PROVR ASSOC · NY · controlled entity

    Directly controlled by NA

  • MMC GI HOLDINGS EAST INC

    C Corporation · HOLDING COMPANY · NY · controlled entity

    Directly controlled by NA

  • MMC GI HOLDINGS WEST INC

    C Corporation · HOLDING COMPANY · NY · controlled entity

    Directly controlled by NA

  • MONTEFIORE BEHAVIORAL CARE IPA NO 1 INC

    C Corporation · INTEG PROVR ASSOC · NY · controlled entity

    Directly controlled by NA

  • BRONX ACCOUNTABLE CARE NETWORK IPA INC

    C Corporation · INTEG PROVR ASSOC · NY · controlled entity

    Directly controlled by NA

  • MONTEFIORE CONSOLIDATED VENTURES INC

    C Corporation · HOLDING COMPANY · NY · controlled entity

    Directly controlled by NA

  • MONTEFIORE INSURANCE COMPANY INC

    C Corporation · INACTIVE · NY · controlled entity

    Directly controlled by NA

  • HUDSON VALLEY IPA INC

    C Corporation · INTEG PROVR ASSOC · NY · controlled entity

    Directly controlled by NA

  • MONTEFIORE INNOVATIONS INC

    C Corporation · HOLDING COMPANY · NY · controlled entity

    Directly controlled by NA

  • HIGHLAND MEDICAL PC

    C Corporation · HEALTHCARE SERV. · NY · controlled entity

    Directly controlled by NA

  • WHITE PLAINS MEDICAL DIAGNOSTIC SVCS PC

    C Corporation · HEALTHCARE SERV · NY · controlled entity

    Directly controlled by NA

  • CANCER AND BLOOD MEDICAL SERV OF NY PC

    C Corporation · HEALTHCARE SERV. · NY · controlled entity

    Directly controlled by NA

  • DAVIS AVENUE CORP

    C Corporation · PROPERTY HOLDING · NY · controlled entity

    Directly controlled by NA

  • WHITE PLAINS MANAGEMENT CO INc

    C Corporation · PROPERTY HOLDING · NY · controlled entity

    Directly controlled by NA

  • WPHC BUILDING CORP

    C Corporation · PROPERTY HOLDING · NY · controlled entity

    Directly controlled by NA

  • WHITE PLAINS MEDICAL SERVICES PC

    C Corporation · HEALTHCARE SERV · NY · controlled entity

    Directly controlled by NA

  • WHITE PLAINS PHYSICIAN SERVICES PC

    C Corporation · HEALTHCARE SERV. · NY · controlled entity

    Directly controlled by NA

  • CHARITABLE REMAINDER TRUST (4)

    Trust · CHAR REMR TRUST · NY · controlled entity

    Directly controlled by NA

  • CRHT ACQUISITION INC

    C Corporation · HOLDING COMPANY · NY · controlled entity

    Directly controlled by NA

  • QUANTUM BIOTHERAPEUTICS LLC

    C Corporation · INACTIVE · NY · controlled entity

    Directly controlled by NA

  • WHITE PLAINS PHYSICIAN MEDICAL SERV PC

    C Corporation · INACTIVE · NY · controlled entity

    Directly controlled by NA

  • EAST POST ROAD MEDICAL SERVICES PC

    C Corporation · HEALTHCARE SERV. · NY · controlled entity

    Directly controlled by NA

  • EAST POST ROAD PHYSICIAN SERV PC

    C Corporation · INACTIVE · NY · controlled entity

    Directly controlled by NA

  • DAVIS AVENUE MEDICAL SERVICES PC

    C Corporation · INACTIVE · NY · controlled entity

    Directly controlled by NA

  • WPH HOLDINGS INC

    C Corporation · HOLDING COMPANY · NY · controlled entity

    Directly controlled by NA

  • INNOVATOR ACQUSITION CORP

    C Corporation · HOLDING COMPANY · NY · controlled entity

    Directly controlled by NA

  • PY DEVELOPMENT CORP

    C Corporation · REIT · NY · controlled entity

    Directly controlled by NA

  • SPECIALTY SURGEONS OF CONNECTICUT PC

    C Corporation · HEALTHCARE SERV. · CT · controlled entity

    Directly controlled by NA

  • CMO THE CARE MANAGEMENT COMPANY LLC

    C Corporation · CARE MANAGMENT · NY · controlled entity

    Directly controlled by NA

  • Hudson River Medical Practice PLLC

    C Corporation · HEALTHCARE SERV. · NY · controlled entity

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.1
Source object
202443179349304014

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