Skip to content
Nonprofiteer
← ALBANY MED HEALTH SYSTEM

Form 990 for tax year 2023

Filed by ALBANY MED HEALTH SYSTEM.

Totals

Total revenue
$292,550,462
Total expenses
$288,618,555
Contributions and grants received
$636,326
Grants paid
$0
Program service revenue
$287,200,394
Investment income
$3,139,340
Other revenue
$1,574,402
Total assets, end of year
$444,898,708
Total liabilities, end of year
$408,176,363
Net assets or fund balances, end of year
$36,722,345
Program services expenses (Part IX)
$288,618,555
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$288,618,555

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.

  • 1d · Related organizations

    $302,600

  • 1e · Government grants (contributions)

    $333,726

  • 2a · Program service revenue: OTHER ADMIN SUPPORT SERVICE

    total $90,538,104 · related or exempt $90,538,104

  • 2b · Program service revenue: INFORMATION SYSTEM/SERVICE

    total $68,814,150 · related or exempt $68,814,150

  • 2c · Program service revenue: FINANCIAL MANAGEMENT

    total $65,567,074 · related or exempt $65,567,074

  • 2d · Program service revenue: BUILDING OPERATION

    total $32,119,916 · related or exempt $32,119,916

  • 2e · Program service revenue: MATERIALS MANAGEMENT

    total $30,161,150 · related or exempt $30,161,150

  • 3 · Investment income

    total $2,949,600 · excluded $2,949,600

  • 4 · Income from investment of tax-exempt bond proceeds

    total $158,412 · excluded $158,412

  • 6a · Gross rents

    real property $393,410

  • 6b · Less rental expenses

    real property $210,055

  • 6c · Rental income or loss

    real property $183,355

  • 6d · Net rental income or loss

    total $183,355 · excluded $183,355

  • 7a · Gross sales of assets other than inventory

    other assets $31,328

  • 7b · Less cost or other basis and sales expenses

    other assets $0

  • 7c · Gain or loss

    other assets $31,328

  • 7d · Net gain or loss

    total $31,328 · excluded $31,328

  • 11a · Other revenue: MISCELLANEOUS

    total $1,391,047 · related or exempt $1,391,047

  • 11e · Other revenue, total

    $1,391,047

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $2,699,656 · program services $2,699,656

  • 7 · Other salaries and wages

    total $109,372,837 · program services $109,372,837

  • 8 · Pension plan contributions

    total $1,610,061 · program services $1,610,061

  • 9 · Other employee benefits

    total $6,804,280 · program services $6,804,280

  • 10 · Payroll taxes

    total $7,640,483 · program services $7,640,483

  • 11a · Fees: management

    total $3,054,147 · program services $3,054,147

  • 11b · Fees: legal

    total $913,243 · program services $913,243

  • 11c · Fees: accounting

    total $78,391 · program services $78,391

  • 11d · Fees: lobbying

    total $77,150 · program services $77,150

  • 11f · Fees: investment management

    total $28,110 · program services $28,110

  • 11g · Fees: other

    total $24,180,652 · program services $24,180,652

  • 12 · Advertising and promotion

    total $2,783,321 · program services $2,783,321

  • 13 · Office expenses

    total $3,680,912 · program services $3,680,912

  • 16 · Occupancy

    total $3,878,625 · program services $3,878,625

  • 17 · Travel

    total $105,628 · program services $105,628

  • 20 · Interest

    total $3,524,893 · program services $3,524,893

  • 22 · Depreciation, depletion and amortization

    total $21,832,102 · program services $21,832,102

  • 23 · Insurance

    total $533,543 · program services $533,543

  • 24a · Other expenses: DRUGS AND MEDICINE

    total $41,704,763 · program services $41,704,763

  • 24b · Other expenses: MACHINE RENTAL & LEASE

    total $21,820,116 · program services $21,820,116

  • 24c · Other expenses: MISCELLANEOUS EXPENSES

    total $17,140,982 · program services $17,140,982

  • 24d · Other expenses: INTRACOMPANY

    total $15,154,660 · program services $15,154,660

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $22,568,843 · end of year $12,646,691

  • 2 · Savings and temporary cash investments

    beginning of year $18,389,478 · end of year $16,801,941

  • 4 · Accounts receivable

    beginning of year $7,718,564 · end of year $9,536,221

  • 8 · Inventories for sale or use

    beginning of year $783,547 · end of year $5,246,420

  • 9 · Prepaid expenses and deferred charges

    beginning of year $9,569,038 · end of year $7,595,921

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

    $335,821,962

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

    $143,682,770

  • 10c · Land, buildings and equipment, net

    beginning of year $163,996,003 · end of year $192,139,192

  • 13 · Investments: program-related

    beginning of year $55,512,250 · end of year $70,125,056

  • 15 · Other assets

    beginning of year $71,354,141 · end of year $130,807,266

  • 17 · Accounts payable and accrued expenses

    beginning of year $43,498,775 · end of year $72,794,670

  • 20 · Tax-exempt bond liabilities

    beginning of year $43,422,044 · end of year $42,336,319

  • 21 · Escrow or custodial account liability

    beginning of year $55,310,149 · end of year $68,034,186

  • 23 · Secured mortgages and notes payable

    beginning of year $49,270,911 · end of year $45,332,285

  • 25 · Other liabilities

    beginning of year $124,724,484 · end of year $179,678,903

  • 27 · Net assets without donor restrictions

    beginning of year $33,665,501 · end of year $36,722,345

Mission and programs · 2023

Mission

SEE SCHEDULE O

Activities or mission (Part I)

AN ACADEMIC HEALTH SCIENCES SYSTEM WHOSE RESPONSIBILITIES ARE TO PROVIDE A BROAD RANGE OF PATIENT SERVICES TO THE PEOPLE OF EASTERN NEW YORK AND WESTERN NEW ENGLAND.

  • OTHER ADMINISTRATIVE SUPPORT SERVICES: THE ALBANY MED HEALTH SYSTEM COORDINATES PLANNING, FINANCIAL, INFORMATION AND POLICY DIRECTION FOR OUR AFFILIATED EXEMPT ORGANIZATIONS.

    Expenses $91,764,385 · Revenue $91,929,151

  • INFORMATION SYSTEMS & SERVICES: CENTRALIZED MAINTENANCE AND UPGRADE OF VARIOUS INFORMATION SYSTEMS AND OTHER COMPUTER SUPPORT SUCH AS PERSONAL COMPUTER MAINTENANCE, EDUCATION, ETC. FOR THE ALBANY MED HEALTH SYSTEM.

    Expenses $86,919,146 · Revenue $68,814,150

  • FINANCIAL MANAGEMENT: CENTRALIZED CORPORATE FINANCE RELATED OPERATIONS FOR THE ALBANY MED HEALTH SYSTEM.

    Expenses $45,941,214 · Revenue $65,567,074

  • BUILDING OPERATIONS: COST OF MAINTENANCE AND REPAIRS TO BUILDINGS FOR USE BY ALBANY MED HEALTH SYSTEM.MATERIALS MANAGEMENT: CENTRALIZED SUPPLY RELATED OPERATIONS FOR THE ALBANY MED HEALTH SYSTEM.

    Expenses $63,993,810 · Revenue $62,278,726

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • DENNIS P MCKENNA MD

    PRESIDENT & CEO

    Total calculated
    $1,982,447
    From this org
    $1,617,528
    From related orgs
    $0
    Other
    $364,919
    Hours/week
    8 + 51 related

    Schedule J breakdown matched by us

    Base
    $1,294,203
    Bonus
    $235,742
    Other
    $87,583
    Deferred
    $335,205
    Nontaxable benefits
    $29,714
    Filer's total
    $1,982,447
  • STEVEN M PARNES MD

    BOARD MEMBER

    Total calculated
    $784,937
    From this org
    $0
    From related orgs
    $750,046
    Other
    $34,891
    Hours/week
    2 + 46 related

    Schedule J breakdown matched by us

    Base
    $0 + $731,471 related
    Bonus
    $0
    Other
    $0 + $18,575 related
    Deferred
    $0 + $9,900 related
    Nontaxable benefits
    $0 + $24,991 related
    Filer's total
    $0 + $784,937 related
  • JAMES J BARBA

    BOARD MEMBER

    Total calculated
    $50,470
    From this org
    $50,470
    From related orgs
    $0
    Other
    $0
    Hours/week
    42 + 6 related
  • RAIMUNDO C ARCHIBOLD JR

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 11 related
  • DOUGLAS M HAMLIN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 6 related
  • JEFFREY STONE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 6 related
  • MARY GAIL BIEBEL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 6 related
  • ROBERT T CUSHING

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 6 related
  • SHARON DUKER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 10 related
  • ANTHONY DURANTE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 9 related
  • MARGARET GILLIS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 8 related
  • RUTH MAHONEY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 6 related
  • THERESA SKAINE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 11 related
  • SUJATA CHAUDHRY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 4 related
  • JAMES CULLUM

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 6 related
  • DAVID GOLUB

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 4 related
  • PETER H HEERWAGEN

    BOARD MEMBER THRU 8/23

    Total calculated
    $0
    Hours/week
    2 + 4 related
  • JAMES O JACKSON PHD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 4 related
  • GLENDA KELMAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 6 related
  • CAROL KIM PHD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 4 related
  • KIRK KNELLER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 9 related
  • MORRIS MASSRY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 4 related
  • LISA MOSER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 4 related
  • LILLIAN MOY ESQ

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 4 related
  • MARIANNE MUSTAFA MD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 9 related
  • JOHN J NIGRO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 4 related
  • JOHN B O'CONNOR

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 4 related
  • DANIEL T PICKETT III

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 4 related
  • JANICE SMITH

    BOARD MEMBER THRU 8/23

    Total calculated
    $0
    Hours/week
    2 + 4 related
  • CAROLYN STEFANCO PHD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 4 related
  • TODD M TIDGEWELL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 4 related
  • MICHAEL TOOHEY

    BOARD MEMBER THRU 8/23

    Total calculated
    $0
    Hours/week
    2 + 9 related
  • HEATHER WARD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 9 related
  • CANDACE KING WEIR

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 4 related
  • JANICE WHITE EDD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 4 related
  • ELIZABETH WOOD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 9 related
  • FRANCES S ALBERT

    SR.EVP, COO & CFO

    Total calculated
    $1,122,584
    From this org
    $1,013,532
    From related orgs
    $0
    Other
    $109,052
    Hours/week
    6 + 35 related

    Schedule J breakdown matched by us

    Base
    $789,398
    Bonus
    $120,317
    Other
    $103,817
    Deferred
    $95,610
    Nontaxable benefits
    $13,442
    Filer's total
    $1,122,584
  • ALAN S BOULOS MD

    EVP & DEAN ALB MED COL

    Total calculated
    $1,344,086
    From this org
    $0
    From related orgs
    $1,197,996
    Other
    $146,090
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,018,306 related
    Bonus
    $0 + $141,500 related
    Other
    $0 + $38,190 related
    Deferred
    $0 + $121,368 related
    Nontaxable benefits
    $0 + $24,722 related
    Filer's total
    $0 + $1,344,086 related
  • MATTHEW C JONES

    EVP & GENERAL COUNSEL

    Total calculated
    $821,986
    From this org
    $727,869
    From related orgs
    $0
    Other
    $94,117
    Hours/week
    26 + 14 related

    Schedule J breakdown matched by us

    Base
    $566,055
    Bonus
    $96,716
    Other
    $65,098
    Deferred
    $71,638
    Nontaxable benefits
    $22,479
    Filer's total
    $821,986
  • PETER PAIGE MD

    EVP HOSP GEN DIRECTOR

    Total calculated
    $792,956
    From this org
    $0
    From related orgs
    $760,560
    Other
    $32,396
    Hours/week
    1 + 44 related

    Schedule J breakdown matched by us

    Base
    $0 + $670,925 related
    Bonus
    $0 + $83,728 related
    Other
    $0 + $5,907 related
    Deferred
    $0 + $9,900 related
    Nontaxable benefits
    $0 + $22,496 related
    Filer's total
    $0 + $792,956 related
  • JASON MOUZAKES MD

    EVP HOSP GEN DIRECTOR

    Total calculated
    $791,293
    From this org
    $0
    From related orgs
    $758,898
    Other
    $32,395
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $730,781 related
    Bonus
    $0 + $10,000 related
    Other
    $0 + $18,117 related
    Deferred
    $0 + $9,900 related
    Nontaxable benefits
    $0 + $22,495 related
    Filer's total
    $0 + $791,293 related
  • KRISTOPHER P KUSCHE

    SVP & CIO

    Total calculated
    $617,160
    From this org
    $540,681
    From related orgs
    $0
    Other
    $76,479
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $452,106
    Bonus
    $79,400
    Other
    $9,175
    Deferred
    $51,917
    Nontaxable benefits
    $24,562
    Filer's total
    $617,160
  • VICTOR BECKER

    SVP & CHIO

    Total calculated
    $567,247
    From this org
    $508,631
    From related orgs
    $0
    Other
    $58,616
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $442,549
    Bonus
    $63,824
    Other
    $2,258
    Deferred
    $53,795
    Nontaxable benefits
    $4,821
    Filer's total
    $567,247
  • SANDRA J CASTILLA

    VP HUMAN RESOURCES

    Total calculated
    $422,012
    From this org
    $386,945
    From related orgs
    $0
    Other
    $35,067
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $336,985
    Bonus
    $46,841
    Other
    $3,119
    Deferred
    $9,900
    Nontaxable benefits
    $25,167
    Filer's total
    $422,012
  • SHELLY A BRETON

    VP REVENUE CYCLE SERVICES

    Total calculated
    $401,498
    From this org
    $377,313
    From related orgs
    $0
    Other
    $24,185
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $349,464
    Bonus
    $25,000
    Other
    $2,849
    Deferred
    $13,200
    Nontaxable benefits
    $10,985
    Filer's total
    $401,498
  • NOEL C HOGAN

    SVP CORP COMPLIANCE

    Total calculated
    $376,041
    From this org
    $327,261
    From related orgs
    $0
    Other
    $48,780
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $264,875
    Bonus
    $35,645
    Other
    $26,741
    Deferred
    $25,778
    Nontaxable benefits
    $23,002
    Filer's total
    $376,041
  • VINCENT P VERDILE MD

    DEAN EMERITUS

    Total calculated
    $147,851
    From this org
    $0
    From related orgs
    $146,898
    Other
    $953
    Hours/week
    8 + 32 related

    Schedule J breakdown matched by us

    Base
    $0 + $10,730 related
    Bonus
    $0 + $76,160 related
    Other
    $0 + $60,008 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $953 related
    Filer's total
    $0 + $147,851 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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 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)

PART I, LINE 3
THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS ("COMMITTEE") ESTABLISHES COMPENSATION FOR THE PRESIDENT AND CHIEF EXECUTIVE OFFICER OF THE ORGANIZATION, ALL EXECUTIVE VICE PRESIDENTS AND OTHER TOP MANAGEMENT OFFICIALS WHO REPORT DIRECTLY TO THE PRESIDENT AND CHIEF EXECUTIVE OFFICER, SUBJECT TO APPROVAL BY THE BOARD OF DIRECTORS. THE COMMITTEE USES PROFESSIONAL COMPENSATION ADVISORS WHO ARE CAPABLE OF RENDERING INDEPENDENT ADVICE AND INDEPENDENT MARKET SURVEYS. THE COMMITTEE TARGETS THE MARKET MEDIAN (50TH PERCENTILE) FOR CASH COMPENSATION; BENEFIT PROGRAMS ARE INTENDED TO BE COMPETITIVE. AFTER THE COMPENSATION PROGRAM IS DETERMINED, THE COMMITTEE-APPROVED RECOMMENDATION IS FORWARDED TO THE BOARD OF DIRECTORS FOR ITS CONSIDERATION AND APPROVAL, AND THAT IS CONTEMPORANEOUSLY SUBSTANTIATED.
PART I, LINE 4B
SUPPLEMENTAL EMPLOYEE RETIREMENT PLAN STARTED IN 2016 AND SEVERAL PERSONS LISTED IN FORM 990, PART VII, SECTION A, LINE 1A PARTICIPATED IN AND/OR RECEIVED PAYMENT FROM THE PLAN. THE FOLLOWING EMPLOYEES PARTICIPATED IN THE PLAN AND THE AMOUNTS LISTED BELOW ARE INCLUDED IN SCHEDULE J, PART II, COLUMN (C): DENNIS P. MCKENNA, PRESIDENT & CEO, $322,005 FRANCES S. ALBERT, SR.EVP COO & CFO, $82,410 ALAN S. BOULOS, EVP & DEAN ALBANY MEDICAL COLLEGE, $108,168 MATTHEW C. JONES, EVP & GENERAL COUNSEL, $61,738 NOEL C. HOGAN, SVP CORP COMPLIANCE, $25,778 KRISTOPHER P. KUSCHE, SVP & CIO, $38,718 VICTOR BECKER, SVP & CHIO, $43,895 THE FOLLOWING EMPLOYEES RECEIVED PAYMENT FROM THE PLAN AND THE AMOUNT LISTED BELOW IS INCLUDED IN SCHEDULE J, PART II, COLUMN B(III) AND WHERE APPLICABLE COLUMN (F): DENNIS P. MCKENNA, PRESIDENT & CEO, $55,021 FRANCES S. ALBERT, SR.EVP COO & CFO, $80,027 VINCENT P. VERDILE, DEAN EMERITUS, $60,008 MATTHEW C. JONES, EVP & GENERAL COUNSEL, $46,809 NOEL C. HOGAN, SVP CORP COMPLIANCE, $22,995

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.

  • MADISON AVENUE SERVICES CORP

    C · SERVICES - OTHER (INACTIVE) · NY · 100% owned · share of assets $492 · controlled entity

    Directly controlled by ALBANY MED HEALTH SYSTEM

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202413199349307631

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.