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Nonprofiteer
← MONTEFIORE CERC OPERATIONS INC

Form 990 for tax year 2023

Filed by MONTEFIORE CERC OPERATIONS INC.

Totals

Total revenue
$4,852,193
Total expenses
$6,009,881
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$4,596,300
Investment income
$255,893
Other revenue
$0
Total assets, end of year
$14,141,159
Total liabilities, end of year
$3,891,314
Net assets or fund balances, end of year
$10,249,845
Program services expenses (Part IX)
$6,009,491
Management and general expenses
$390
Fundraising expenses
$0
Program service expenses (Part III)
$6,009,491

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • CHRISTOPHER S PANCZNER

    SECRETARY

    Total calculated
    $1,872,945
    From this org
    $0
    From related orgs
    $1,826,063
    Other
    $46,882
    Hours/week
    0.5 + 59.5 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

  • PHILIP O OZUAH MD

    PRESIDENT

    Total calculated
    $16,361,629
    From this org
    $0
    From related orgs
    $16,314,853
    Other
    $46,776
    Hours/week
    0.5 + 59.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $4,712,384 related
    Bonus
    $0 + $6,300,000 related
    Other
    $0 + $5,302,469 related
    Deferred
    $0 + $17,000 related
    Nontaxable benefits
    $0 + $29,776 related
    Filer's total
    $0 + $16,361,629 related

  • ANNE MURPHY PHD

    CLINICAL DIRECTOR

    Total calculated
    $215,644
    From this org
    $148,133
    From related orgs
    $49,378
    Other
    $18,133
    Hours/week
    30 + 10 related

    Schedule J breakdown matched by us

    Base
    $134,459 + $44,820 related
    Bonus
    $12,188 + $4,063 related
    Other
    $1,486 + $495 related
    Deferred
    $12,750 + $4,250 related
    Nontaxable benefits
    $850 + $283 related
    Filer's total
    $161,733 + $53,911 related

  • LISA SHULMAN MD

    INTERIM CHIEF, DIR OF DEV MED

    Total calculated
    $310,260
    From this org
    $194,620
    From related orgs
    $64,873
    Other
    $50,767
    Hours/week
    30 + 10 related

    Schedule J breakdown matched by us

    Base
    $157,766 + $52,589 related
    Bonus
    $17,425 + $5,808 related
    Other
    $19,429 + $6,476 related
    Deferred
    $12,750 + $4,250 related
    Nontaxable benefits
    $25,325 + $8,442 related
    Filer's total
    $232,695 + $77,565 related

  • MARIA VALICENTI-MCDERMOTT MD

    PEDIATRICIAN

    Total calculated
    $209,279
    From this org
    $141,765
    From related orgs
    $47,255
    Other
    $20,259
    Hours/week
    30 + 10 related

    Schedule J breakdown matched by us

    Base
    $126,978 + $42,326 related
    Bonus
    $14,690 + $4,897 related
    Other
    $97 + $32 related
    Deferred
    $12,750 + $4,250 related
    Nontaxable benefits
    $2,444 + $815 related
    Filer's total
    $156,959 + $52,320 related

  • OSCAR PURUGGANAN MD

    PEDIATRICIAN

    Total calculated
    $230,164
    From this org
    $150,288
    From related orgs
    $50,096
    Other
    $29,780
    Hours/week
    30 + 10 related

    Schedule J breakdown matched by us

    Base
    $145,648 + $48,549 related
    Bonus
    $4,059 + $1,353 related
    Other
    $581 + $194 related
    Deferred
    $12,750 + $4,250 related
    Nontaxable benefits
    $9,585 + $3,195 related
    Filer's total
    $172,623 + $57,541 related

  • YUN-KUANG LAI MD

    PEDIATRIC SPECIALIST

    Total calculated
    $231,884
    From this org
    $136,046
    From related orgs
    $45,349
    Other
    $50,489
    Hours/week
    30 + 10 related

    Schedule J breakdown matched by us

    Base
    $128,243 + $42,748 related
    Bonus
    $7,511 + $2,504 related
    Other
    $292 + $97 related
    Deferred
    $12,750 + $4,250 related
    Nontaxable benefits
    $25,117 + $8,372 related
    Filer's total
    $173,913 + $57,971 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
  • 7 · Other non-fixed payments

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
  • 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 MONTEFIORE MEDICINE ACADEMIC HEALTH SYSTEM, INC. FOR THE TWO OFFICERS: 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 AS PAID BY A RELATED ORGANIZATION: PHILIP O. OZUAH, M.D., PH.D. - $691,761; CHRISTOPHER PANCZNER - $616,551.
Schedule J, Part I, Line 7 Non-fixed payments
THE BONUSES PAID TO THE FIVE HIGHEST COMPENSATED EMPLOYEES WERE DISCRETIONARY PAYMENTS DETERMINED BY MANAGEMENT.

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
2023
Filed
12 November 2024
IRS schema version
2023v5.1
Source object
202403179349304210

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