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Nonprofiteer
← MONTEFIORE EINSTEIN INC

Form 990 for tax year 2023

Filed by MONTEFIORE EINSTEIN INC.

Totals

Total revenue
$39,104,364
Total expenses
$40,203,755
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$39,104,364
Investment income
$0
Other revenue
$0
Total assets, end of year
$16,098,824
Total liabilities, end of year
$16,586,395
Net assets or fund balances, end of year
-$487,571
Program services expenses (Part IX)
$28,608,910
Management and general expenses
$11,594,845
Fundraising expenses
$0
Program service expenses (Part III)
$28,608,910

Program services were 71.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • ALAN M KLEIN

    SECRETARY (RESIGNED 1/24/23)

    Total calculated
    $0
    Hours/week
    0.8 + 2.8 related

  • CATHERINE KLEMA

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.3 + 3.8 related

  • DANIEL R TISHMAN

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 2.3 related

  • EMANUEL CHIRICO

    TREASURER (RESIGNED 1/24/23)

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • JAMES M BUTLER

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.5 + 3.8 related

  • PHILIP O OZUAH MD PHD

    PRESIDENT & CEO

    Total calculated
    $16,361,629
    From this org
    $16,314,853
    From related orgs
    $0
    Other
    $46,776
    Hours/week
    2 + 58 related

    Schedule J breakdown matched by us

    Base
    $4,712,384
    Bonus
    $6,300,000
    Other
    $5,302,469
    Deferred
    $17,000
    Nontaxable benefits
    $29,776
    Filer's total
    $16,361,629

  • ALISA R DOCTOROFF

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • BARRY S BLATTMAN

    TRUSTEE (RESIGNED 1/24/23)

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • DAVID A TANNER

    TRUSTEE (RESIGNED 1/24/23)

    Total calculated
    $0
    Hours/week
    0.3 + 1.3 related

  • GAYLE F ROBINSON

    TRUSTEE (RESIGNED 1/24/23)

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

  • JAY B ABRAMSON

    TRUSTEE (RESIGNED 1/24/23)

    Total calculated
    $0
    Hours/week
    0.5 + 3 related

  • JOHN HEFFER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.8 + 1.3 related

  • JONATHAN A LIPTON

    TRUSTEE (RESIGNED 1/24/23)

    Total calculated
    $0
    Hours/week
    0.3 + 1.3 related

  • MATTHEW H NORD

    TRUSTEE (RESIGNED 1/24/23)

    Total calculated
    $0
    Hours/week
    0.3 + 1.3 related

  • MELISSA CERIALE

    TRUSTEE (RESIGNED 1/24/23)

    Total calculated
    $0
    Hours/week
    0.5 + 3 related

  • MICHAEL A STOCKER MD

    TRUSTEE (RESIGNED 1/24/23)

    Total calculated
    $0
    Hours/week
    0.5 + 3 related

  • NATHAN GANTCHER

    TRUSTEE (RESIGNED 1/24/23)

    Total calculated
    $0
    Hours/week
    0.3 + 2.3 related

  • RUTH L GOTTESMAN EDD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.3 + 2.3 related

  • STACEY R LANE

    TRUSTEE (RESIGNED 1/24/23)

    Total calculated
    $0
    Hours/week
    0.3 + 2.3 related

  • CHRISTOPHER S PANCZNER

    ASSISTANT SECRETARY

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

    Schedule J breakdown matched by us

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

  • COLLEEN BLYE

    EXEC VP & CFO

    Total calculated
    $3,678,461
    From this org
    $3,648,579
    From related orgs
    $0
    Other
    $29,882
    Hours/week
    5 + 55 related

    Schedule J breakdown matched by us

    Base
    $1,731,126
    Bonus
    $1,000,000
    Other
    $917,453
    Deferred
    $17,000
    Nontaxable benefits
    $12,882
    Filer's total
    $3,678,461

  • EDWARD PFLEGING

    SVP-FACILITIES AND REAL ESTATE

    Total calculated
    $1,412,479
    From this org
    $1,139,641
    From related orgs
    $0
    Other
    $272,838
    Hours/week
    0 + 60 related

    Schedule J breakdown matched by us

    Base
    $942,077
    Bonus
    $175,000
    Other
    $22,564
    Deferred
    $242,886
    Nontaxable benefits
    $29,952
    Filer's total
    $1,412,479

  • EVAN RESNICK

    VP - FINANCE

    Total calculated
    $1,027,995
    From this org
    $977,934
    From related orgs
    $0
    Other
    $50,061
    Hours/week
    2 + 58 related

    Schedule J breakdown matched by us

    Base
    $762,574
    Bonus
    $215,000
    Other
    $360
    Deferred
    $17,000
    Nontaxable benefits
    $33,061
    Filer's total
    $1,027,995

  • GLORIA KENNY

    SYSTEM SVP & CHIEF HR OFFICER

    Total calculated
    $1,767,481
    From this org
    $1,461,251
    From related orgs
    $0
    Other
    $306,230
    Hours/week
    2 + 58 related

    Schedule J breakdown matched by us

    Base
    $1,091,592
    Bonus
    $347,625
    Other
    $22,034
    Deferred
    $305,534
    Nontaxable benefits
    $696
    Filer's total
    $1,767,481

  • JOSEPH SOLMONESE

    SVP-GOVT AFFAIRS & STRATEGIC COMMUNICATIONS

    Total calculated
    $679,002
    From this org
    $651,393
    From related orgs
    $0
    Other
    $27,609
    Hours/week
    2 + 58 related

    Schedule J breakdown matched by us

    Base
    $650,361
    Bonus
    $0
    Other
    $1,032
    Deferred
    $17,000
    Nontaxable benefits
    $10,609
    Filer's total
    $679,002

  • KATHLEEN KEARNS

    SVP DEVELOPMENT & CPO

    Total calculated
    $736,004
    From this org
    $688,589
    From related orgs
    $0
    Other
    $47,415
    Hours/week
    0 + 60 related

    Schedule J breakdown matched by us

    Base
    $642,589
    Bonus
    $25,000
    Other
    $21,000
    Deferred
    $17,000
    Nontaxable benefits
    $30,415
    Filer's total
    $736,004

  • LYNN RICHMOND

    FORMER EVP-CSO (RESIGNED 11/14/19)

    Total calculated
    $2,185,960
    From this org
    $2,185,960
    From related orgs
    $0
    Other
    $0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $2,185,960
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $2,185,960

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

  • 1a · Discretionary spending account
  • 1b · Written policy on the line-1a expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 2 · Substantiation required before reimbursing expenses
  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 1a Discretionary spending account
THE ORGANIZATION PROVIDED SENIOR LEVEL EXECUTIVES WITH A $21,000 AUTOMOBILE ALLOWANCE. THIS ALLOWANCE WAS INCLUDED IN THEIR TAXABLE INCOME AND COLUMN B(III) OF PART II.
Schedule J, Part I, Line 4a Severance or change-of-control payment
Lynn Richmond, former Executive Vice President, received severance in the amount of $2,185,960 and is reflected in the total reported for column (B) (III) other compensation.
Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
THE 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 BASED ON MULTIPLE YEARS OF SERVICE AND PAID OUT IN 2023 AS TAXABLE INCOME: PHILIP O. OZUAH, M.D., PH.D. - $691,761; CHRISTOPHER PANCZNER - $616,551; COLLEEN BLYE - $915,869. THE HEALTH SYSTEM ALSO FUNDS A SECOND DEFINED CONTRIBUTION SERP PLAN. TWO REPORTABLE INDIVIDUALS 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. THERE WAS ONE DISTRIBUTION PAID OUT AS TAXABLE INCOME RELATED TO THE NONQUALIFYING DEFINED CONTRIBUTION SERP PLAN: PHILIP O. OZUAH, M.D., PH.D. - $4,574,850 BASED ON MULTIPLE YEARS OF SERVICE (SEE ABOVE FOR VESTING). UNVESTED CONTRIBUTIONS MADE TO THE PLAN FOR THE TWO PARTICIPATING OFFICERS IN 2023 WAS REPORTED AS DEFERRED COMPENSATION IN COLUMN (C) COMPENSATION: EDWARD PFLEGING - $225,886 AND GLORIA KENNY - $288,534.
Schedule J, Part I, Line 7 Non-fixed payments
PART OF THE ANNUAL INCENTIVE AWARDS IN COLUMN (B)(II) PAID BY THE ORGANIZATION TO PERSONS LISTED ON FORM 990, PART VII, SECTION A, LINE 1A WERE BASED ON COMPENSATION BOARD OR MANAGEMENT DISCRETION.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202413199349309156

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