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Nonprofiteer
← BETH ISRAEL MEDICAL CENTER HOLDING CORPORATION

Form 990 for tax year 2023

Filed by BETH ISRAEL MEDICAL CENTER HOLDING CORPORATION.

Totals

Total revenue
$1,177,489
Total expenses
$0
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,177,489
Investment income
$0
Other revenue
$0
Total assets, end of year
$3,739,842
Total liabilities, end of year
$2,331,398
Net assets or fund balances, end of year
$1,408,444
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$0

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: GAIN FROM SUBSIDIARY

    total $1,358,931 · related or exempt $1,358,931

  • 2b · Program service revenue: LOSS FROM JV

    total -$181,442 · related or exempt -$181,442

  • 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.

  • 11g · Fees: other

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

  • 24e · All other expenses

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

Balance sheet

Part X, book values.

  • 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 $2,562,353 · end of year $3,739,842

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $2,331,398 · end of year $2,331,398

  • 27 · Net assets without donor restrictions

    beginning of year $230,955 · end of year $1,408,444

Mission and programs · 2023

Mission

B I M C HOLDING CORPORATION WILL INVEST IN NEW, EXISTING, AND START-UP HEALTHCARE BUSINESSES THAT ARE FOCUSED ON POPULATION HEALTH MANAGEMENT. KEY CRITERIA FOR ASSESSING SUCH OPPORTUNITIES WILL BE THEIR ABILITY TO IMPROVE THE QUALITY OF CARE, DRIVE DOWN THE COST OF DELIVERING MEDICAL CARE, AND EXPAND AND IMPROVE THE ACCESS TO SERVICES FOR POPULATIONS WHICH HAVE BEEN HISTORICALLY DENIED SUCH EQUALITY.

Activities or mission (Part I)

TO PROVIDE SUPERVISORY & COORDINATION SERVICES TO RELATED AFFILIATES. TODAY, IT SERVES AS THE SOLE CORPORATE MEMBER OF THREE EXEMPT ENTITIES THAT ARE RELATED TO BIMC.

  • IN SEPTEMBER OF 2012, BIMC HOLDING CORPORATION ACQUIRED A 100% INTEREST IN A NEWLY FORMED ENTITY, MOUNT SINAI HC VENTURES, INC. (F/K/A CHP VENTURES, INC). MOUNT SINAI HC VENTURES, INC. PARTICIPATES IN TWO MANAGEMENT SERVICES ORGANIZATION PARTNERSHIPS THAT PROVIDE MANAGEMENT SERVICES TO URGENT CARE CENTERS. DURING 2015 BIMC HOLDING CORPORATION AQUIRED A 10% INTEREST IN ISLAND AMBULATORY SURGERY CENTER, LLC, AN AMBULATORY CARE SURGERY CENTER LOCATED IN BROOKLYN, NY. BIMC HOLDING CORPORATION HAD NO ADDITIONAL INVESTMENTS OR DIVESTMENTS DURING 2023.

    Revenue $1,177,489

As filed on the 2023 return.

Listed in Part VII

  • Brent Stackhouse

    TRUSTEE/PRESIDENT

    Total calculated
    $444,438
    From this org
    $0
    From related orgs
    $405,607
    Other
    $38,831
    Hours/week
    0.5 + 59.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $350,000 related
    Bonus
    $0 + $52,579 related
    Other
    $0 + $3,028 related
    Deferred
    $0 + $26,400 related
    Nontaxable benefits
    $0 + $12,431 related
    Filer's total
    $0 + $444,438 related

  • Kelly Cassano

    TRUSTEE/CHAIRMAN

    Total calculated
    $1,267,329
    From this org
    $0
    From related orgs
    $1,222,124
    Other
    $45,205
    Hours/week
    0.5 + 59.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $850,000 related
    Bonus
    $0 + $229,075 related
    Other
    $0 + $143,049 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $12,205 related
    Filer's total
    $0 + $1,267,329 related

  • Michael Pastier

    TRUSTEE/TREASURER

    Total calculated
    $1,473,210
    From this org
    $0
    From related orgs
    $1,389,710
    Other
    $83,500
    Hours/week
    0.5 + 59.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $930,000 related
    Bonus
    $0 + $173,250 related
    Other
    $0 + $286,460 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $50,500 related
    Filer's total
    $0 + $1,473,210 related

  • Vicki Lopachin

    TRUSTEE

    Total calculated
    $1,238,566
    From this org
    $0
    From related orgs
    $1,185,535
    Other
    $53,031
    Hours/week
    0.5 + 59.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $900,000 related
    Bonus
    $0 + $207,900 related
    Other
    $0 + $77,635 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $20,031 related
    Filer's total
    $0 + $1,238,566 related

  • Denise B Prince

    TRUSTEE (END 12/2023)

    Total calculated
    $596,131
    From this org
    $0
    From related orgs
    $551,232
    Other
    $44,899
    Hours/week
    0.5 + 59.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $394,000 related
    Bonus
    $0 + $75,845 related
    Other
    $0 + $81,387 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $11,899 related
    Filer's total
    $0 + $596,131 related

  • Jodi Cohen

    TRUSTEE

    Total calculated
    $980,168
    From this org
    $0
    From related orgs
    $904,146
    Other
    $76,022
    Hours/week
    0.5 + 59.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $715,000 related
    Bonus
    $0 + $165,165 related
    Other
    $0 + $23,981 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $43,022 related
    Filer's total
    $0 + $980,168 related

  • Christopher Considine

    SECRETARY

    Total calculated
    $618,278
    From this org
    $0
    From related orgs
    $557,785
    Other
    $60,493
    Hours/week
    0.5 + 59.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $500,000 related
    Bonus
    $0 + $46,200 related
    Other
    $0 + $11,585 related
    Deferred
    $0 + $26,400 related
    Nontaxable benefits
    $0 + $34,093 related
    Filer's total
    $0 + $618,278 related

  • Arthur Klein MD

    FORMER OFFICER (END JUL 2022)

    Total calculated
    $600,000
    From this org
    $0
    From related orgs
    $600,000
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0 + $600,000 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $600,000 related

  • Beth Essig

    FORMER OFFICER (END JUL 2022)

    Total calculated
    $1,878,171
    From this org
    $0
    From related orgs
    $1,822,706
    Other
    $55,465
    Hours/week
    0 + 60 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,350,000 related
    Bonus
    $0 + $363,825 related
    Other
    $0 + $108,881 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $22,465 related
    Filer's total
    $0 + $1,878,171 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

  • 4a · Severance or change-of-control payment

Answered no

  • 4b · Supplemental nonqualified retirement plan
  • 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 FOLLOWING METHODS ARE USED BY A RELATED ORGANIZATION TO ESTABLISH COMPENSATION OF THE CEO/EXECUTIVE DIRECTOR: A COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE. SUPPLEMENTAL INFORMATION COMPENSATION FOOTNOTES: OFFICERS OF THE BOARD OF TRUSTEES HOURS REFLECT SERVICE TO ALL RELATED ORGANIZATIONS OF MOUNT SINAI HEALTH SYSTEM. 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. PART VII, SECTION A & SCHEDULE J COMPENSATION FOOTNOTES: (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.
Schedule J, Part I, Line 4a Severance or change-of-control payment
ARTHUR KLEIN RECEIVED $600,000 OF SEVERANCE PAYMENTS DURING 2023.

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.

  • 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 INC

    C Corporation · HEALTH CARE · NY · 100% owned · share of income $0 · share of assets $1,026,452 · controlled entity

    Directly controlled by BIMC HOLDCO

  • MSHS VACCINE COMPANY

    C Corporation · CLINICAL LAB · NY

    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
202433169349306408

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