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Nonprofiteer
← MONTEFIORE MEDICAL CENTER

Form 990 for tax year 2022

Filed by MONTEFIORE MEDICAL CENTER.

Totals

Total revenue
$4,590,891,278
Total expenses
$4,653,244,153
Contributions and grants received
$186,385,585
Grants paid
$1,400,492
Program service revenue
$4,328,849,238
Investment income
$59,173,371
Other revenue
$16,483,084
Total assets, end of year
$4,574,684,802
Total liabilities, end of year
$4,708,503,188
Net assets or fund balances, end of year
-$133,818,386
Program services expenses (Part IX)
$4,159,153,558
Management and general expenses
$487,911,567
Fundraising expenses
$6,179,028
Program service expenses (Part III)
$4,159,153,558

Program services were 89.4% 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.

  • 1a · Federated campaigns

    $210,000

  • 1c · Fundraising events

    $2,492,139

  • 1e · Government grants (contributions)

    $149,481,824

  • 1f · All other contributions, gifts and grants

    $34,201,622

  • 1g · Noncash contributions included above

    $426,311

  • 2a · Program service revenue: INPATIENT SERVICES

    total $2,312,047,158 · related or exempt $2,312,047,158 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: OUTPATIENT SVCS INCLUDING HOME HEALTH

    total $1,908,490,242 · related or exempt $1,901,546,590 · unrelated business $6,943,652 · excluded $0

  • 2c · Program service revenue: INTERCOMPANY SHARED SERVICES

    total $25,498,102 · related or exempt $25,498,102 · unrelated business $0 · excluded $0

  • 2d · Program service revenue: RESEARCH CONTRACTS

    total $24,815,123 · related or exempt $24,815,123 · unrelated business $0 · excluded $0

  • 2e · Program service revenue: CARE MANAGEMENT HEALTH HOMES

    total $16,161,542 · related or exempt $16,161,542 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $41,837,071 · related or exempt $39,408,956 · unrelated business $2,428,115 · excluded $0

  • 3 · Investment income

    total $37,024,899 · related or exempt $0 · unrelated business $1,603,181 · excluded $35,421,718

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

    total $0

  • 5 · Royalties

    total $0

  • 6a · Gross rents

    real property $4,725,448

  • 6b · Less rental expenses

    real property $3,469,097

  • 6c · Rental income or loss

    real property $1,256,351 · personal property $0

  • 6d · Net rental income or loss

    total $1,256,351 · related or exempt $0 · unrelated business $0 · excluded $1,256,351

  • 7a · Gross sales of assets other than inventory

    securities $22,148,472

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

    securities $0

  • 7c · Gain or loss

    securities $22,148,472

  • 7d · Net gain or loss

    total $22,148,472 · related or exempt $0 · unrelated business -$796,755 · excluded $22,945,227

  • 8a · Fundraising events: gross income

    $640,245

  • 8a · Fundraising events: contributions included on line 1c

    $2,492,139

  • 8b · Fundraising events: direct expenses

    $1,066,349

  • 8c · Net income from fundraising events

    total -$426,104 · unrelated business $0 · excluded -$426,104

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: PARKING INCOME

    total $6,468,197 · related or exempt $0 · unrelated business $0 · excluded $6,468,197

  • 11b · Other revenue: CAFETERIA & VENDING MACHINE INCOME

    total $5,790,461 · related or exempt $0 · unrelated business $0 · excluded $5,790,461

  • 11c · Other revenue: LATE FEES

    total $1,152,678 · related or exempt $0 · unrelated business $0 · excluded $1,152,678

  • 11d · All other revenue

    total $2,241,501 · related or exempt $0 · unrelated business $483,252 · excluded $1,758,249

  • 11e · Other revenue, total

    $15,652,837

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,381,055 · program services $1,381,055

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $19,437 · program services $19,437

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $172,739 · program services $172,739 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $2,046,678,436 · program services $1,882,507,043 · management and general $160,988,432 · fundraising $3,182,961

  • 8 · Pension plan contributions

    total $163,794,821 · program services $150,273,188 · management and general $13,258,620 · fundraising $263,013

  • 9 · Other employee benefits

    total $352,668,846 · program services $323,553,735 · management and general $28,548,814 · fundraising $566,297

  • 10 · Payroll taxes

    total $152,048,967 · program services $139,497,953 · management and general $12,306,862 · fundraising $244,152

  • 11a · Fees: management

    total $12,283,991 · program services $12,283,991 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $10,709,771 · program services $4,816,062 · management and general $5,893,709 · fundraising $0

  • 11c · Fees: accounting

    total $1,113,240 · program services $0 · management and general $1,113,240 · fundraising $0

  • 11d · Fees: lobbying

    total $826,346 · program services $826,346 · management and general $0 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $1,853,000 · program services $0 · management and general $1,853,000 · fundraising $0

  • 11g · Fees: other

    total $221,452,551 · program services $176,564,114 · management and general $44,264,288 · fundraising $624,149

  • 12 · Advertising and promotion

    total $31,415,158 · program services $801,122 · management and general $30,614,036 · fundraising $0

  • 13 · Office expenses

    total $157,397,259 · program services $138,131,306 · management and general $19,134,209 · fundraising $131,744

  • 14 · Information technology

    total $212,253,672 · program services $162,980,102 · management and general $49,151,542 · fundraising $122,028

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $243,116,008 · program services $224,038,880 · management and general $19,047,883 · fundraising $29,245

  • 17 · Travel

    total $8,562,128 · program services $7,332,465 · management and general $1,165,772 · fundraising $63,891

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $4,202,006 · program services $3,890,243 · management and general $308,382 · fundraising $3,381

  • 20 · Interest

    total $14,265,487 · program services $14,265,487 · management and general $0 · fundraising $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $147,540,003 · program services $140,120,848 · management and general $7,416,381 · fundraising $2,774

  • 23 · Insurance

    total $120,730,699 · program services $113,230,384 · management and general $7,500,315 · fundraising $0

  • 24a · Other expenses: MEDICAL SUPPLIES

    total $620,717,962 · program services $619,204,579 · management and general $1,513,062 · fundraising $321

  • 24b · Other expenses: MEMBERSHIP DUES

    total $49,083,253 · program services $31,308,291 · management and general $16,916,912 · fundraising $858,050

  • 24c · Other expenses: BILLING & COLLECTION

    total $23,177,056 · program services $0 · management and general $23,177,056 · fundraising $0

  • 24d · Other expenses: SHARED SERVICES

    total $17,695,194 · program services $28,568 · management and general $17,666,626 · fundraising $0

  • 24e · All other expenses

    total $38,085,068 · program services $11,925,620 · management and general $26,072,426 · fundraising $87,022

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $125,462 · end of year $129,738

  • 2 · Savings and temporary cash investments

    beginning of year $432,738,271 · end of year $237,026,891

  • 3 · Pledges and grants receivable

    beginning of year $30,404,100 · end of year $74,559,717

  • 4 · Accounts receivable

    beginning of year $296,718,460 · end of year $283,238,548

  • 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

  • 7 · Other notes and loans receivable

    beginning of year $425,830,376 · end of year $417,241,326

  • 8 · Inventories for sale or use

    beginning of year $35,932,973 · end of year $47,324,466

  • 9 · Prepaid expenses and deferred charges

    beginning of year $40,233,167 · end of year $24,938,493

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

    $3,749,518,984

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

    $2,664,534,453

  • 10c · Land, buildings and equipment, net

    beginning of year $1,131,957,862 · end of year $1,084,984,531

  • 11 · Investments: publicly traded securities

    beginning of year $1,285,208,698 · end of year $1,037,347,465

  • 12 · Investments: other securities

    beginning of year $436,675,473 · end of year $468,564,766

  • 13 · Investments: program-related

    beginning of year $18,479,753 · end of year $20,397,072

  • 14 · Intangible assets

    beginning of year $430,000 · end of year $430,000

  • 15 · Other assets

    beginning of year $839,939,411 · end of year $878,501,789

  • 17 · Accounts payable and accrued expenses

    beginning of year $852,356,604 · end of year $978,091,646

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $32,271,086 · end of year $23,102,289

  • 20 · Tax-exempt bond liabilities

    beginning of year $777,250,137 · end of year $763,861,238

  • 21 · Escrow or custodial account liability

    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

  • 23 · Secured mortgages and notes payable

    beginning of year $1,584,354,377 · end of year $1,572,053,781

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $1,608,166,234 · end of year $1,371,394,234

  • 27 · Net assets without donor restrictions

    beginning of year $19,572,902 · end of year -$236,160,887

  • 28 · Net assets with donor restrictions

    beginning of year $100,702,666 · end of year $102,342,501

Mission and programs · 2022

Mission

MISSION: TO HEAL, TO TEACH, TO DISCOVER AND TO ADVANCE THE HEALTH OF THE COMMUNITIES WE SERVE. VISION: TO BE A PREMIER ACADEMIC MEDICAL CENTER THAT TRANSFORMS HEALTH AND ENRICHES LIVES. VALUES: HUMANITY, INNOVATION, TEAMWORK, DIVERSITY AND EQUITY - OUR VALUES DEFINE OUR PHILOSOPHY OF CARE. THEY SHAPE OUR ACTIONS AND MOTIVATE AND INSPIRE US TO PURSUE EXCELLENCE AND ACHIEVE OUR GOALS. SINCE 1884, MONTEFIORE HAS CARED FOR THE CHRONICALLY ILL AND HAS MADE IT A PRIORITY TO IMPROVE THE QUALITY OF LIFE FOR UNDERSERVED POPULATIONS. THIS FOUNDING BELIEF IS THE CORNERSTONE OF OUR MISSION, VISION AND VALUES. MONTEFIORE'S MISSION IS ROOTED IN OUR ENDURING COMMITMENT TO PROVIDE ONE STANDARD OF EXCELLENT CARE TO ALL PATIENTS REGARDLESS OF THEIR BACKGROUNDS OR ABILITY TO PAY. MONTEFIORE, THE UNIVERSITY HOSPITAL FOR ALBERT EINSTEIN COLLEGE OF MEDICINE, COMBINES NATIONALLY-RENOWNED CLINICAL AND RESEARCH EXPERTISE WITH COMPASSIONATE, PATIENT-CENTERED CARE. BUILDING UPON OUR RICH HISTORY OF INNOVATION AN

Activities or mission (Part I)

TO HEAL, TO TEACH, TO DISCOVER AND TO ADVANCE THE HEALTH OF THE COMMUNITIES WE SERVE.

  • Patient Care DOING MORE - It's how we created our history of firsts. It's why we developed the world's first transvenous cardiac pacemaker and performed the world's first coronary bypass. Doing more put us at the forefront of treating cancer with highly targeted therapies. It made us one of only a few hospitals in the U.S. performing surgeries on babies before they're born. It built one of the most active and successful transplant centers in the country. Doing more - It's how we are creating the future of healthcare. Established in 1884 as a hospital for patients with chronic illnesses, Montefiore is a full-service integrated healthcare delivery system serving a large and complex urban population, a distinguished academic medical center with renowned faculty, an innovative research center pioneering scientific breakthroughs and medical "firstsan exceptionally dedicated community partner with an unparalleled roster of innovative programs and services that address needs ranging far beyond medical care. Montefiore's mission is to heal, to teach, to discover and to advance the health of the communities it serves. To this mission Montefiore brings a unique synergy of strengths and resources. The Montefiore delivery system offers a full range of healthcare services (preventive, primary, specialty, acute and post acute) to the nearly 2 million residents of the Bronx, New York and nearby Westchester County. Montefiore also serves as a tertiary care referral center for patients across the metropolitan area, the nation and the world, and is known for advanced care in numerous specialties, including cardiology and cardiac surgery, cancer care, children's health, tissue and organ transplantation, women's health, surgery and surgical subspecialties. Montefiore combines its deep commitment to the community with nationally-renowned expertise to reach people at convenient locations. Through the Montefiore School Health Program (the largest and most comprehensive school-based health program in the country), Primary Care at Home programs, mobile medical and dental health vans and health education initiatives, Montefiore provides primary care services in non-traditional settings. Montefiore is increasingly recognized for its success in delivering high-quality care to a large urban community, harnessing the power of health information technology and using care management tools to improve quality, safety and outcomes while controlling costs. To help patients, especially those with chronic diseases, achieve a better quality of life and reduced hospitalizations, Montefiore goes beyond the fragmented fee-for-service payment system, assuming total responsibility for the quality and costs of care for some of its sickest patients. Through the Montefiore IPA, Inc. (MIPA), The Care Management Company, LLC (CMO) and Bronx Accountable Healthcare Network IPA, Inc., dba Montefiore Accountable Care Organization IPA (ACO), a global prepayment strategy is used to manage care over the continuum, including hospital care, rehabilitation, outpatient care, professional services, remote patient monitoring and other programs. At the center of the Medical system are six main campuses with a total of 1,558 licensed beds that provided over 78,700 inpatient admissions in 2022, including over 3,800 births and extensive ambulatory care services: - The 680 bed Henry and Lucy Moses Division; - the 421 bed Jack D. Weiler Hospital of Albert Einstein College of Medicine; - the 136 bed Children's Hospital at Montefiore, recognized as one of "America's Best Children's Hospitals" in U.S. News & World Report's rankings; - the 321 bed Wakefield Division (formerly the North Division renamed to reflect its anchor role in the community); - Montefiore Westchester Square (The former New York Westchester Square Hospital) operating as a Free standing Emergency Department and Ambulatory Surgery Facility; - The Montefiore Hutchinson Campus - The innovative "hospital without beds" providing world-class treatment with the latest technology and the best of multidisciplinary approach to care, enabling patients to be treated effectively and safely without hospitalization. Montefiore also operates extensive ambulatory care services connected by a robust health information technology system through a network of more than 175 locations - from community-based ambulatory care centers to school-based health centers to mobile clinics: - Montefiore's Emergency Departments, among the busiest in the nation, treats more than 286,000 patients annually; - The hospital based clinics provides over 430,000 visits a year; - The Physician practices provides more than 1.5 million office visits annually; - Montefiore Medical Group, a network with over 350 distinguished physicians supported by a dedicated team of nurses, health educators and other highly-qualified medical professionals, working at more than 20 community based locations throughout the Bronx and Westchester provides over 659,000 visits a year; - Montefiore Home Care Program provides over 205,000 visits each year to homebound patients; - The Montefiore School Health Program, the largest in the nation, with 31 school-based health centers serving more than 20,500 children annually; - The Montefiore Substance Abuse and Treatment Program operating multiple substance abuse treatment sites offering drug treatment and rehabilitation services and comprehensive primary care to recovering abusers in communities across the Bronx; - Targeted outreach services to at-risk populations including programs serving the homeless and victims of domestic violence, mothers at risk of premature birth, as well as services to homebound and/or fragile seniors in community-based settings throughout the Bronx. At the intersection of Albert Einstein College of Medicine and Montefiore are Centers of Excellence in Cancer Care, Cardiovascular services, the Children's hospital, transplantation and neurosciences. In these centers, renowned investigators and multidisciplinary clinical teams collaborate to develop and deliver the advanced, innovative care available only at premier academic medical centers and the seamless continuum of services that ensures an ideal patient experience. Montefiore Medical Center is guided by a mission to provide high quality care for all its patients, including those in our service area who lack health insurance coverage and who cannot pay for all or part of the essential care they receive. The Medical Center is committed to maintaining charity care policies that are consistent with its mission and values of advancing the health of the communities that it serves in providing one standard of excellent care to all patients regardless of their background or ability to pay. For more than 100 years, Montefiore has been a leader in innovations, new treatments, new procedures and new approaches to patient care that has produced stellar outcomes and helped to raise the bar for medical centers in the region and nationally. As Montefiore builds on this momentum and these accomplishments, we continue to strive to advance the practice of medicine and set the standards for excellence.

    Expenses $3,630,945,953 · Revenue $4,085,980,001

  • Medical Education & Research Medical Education Montefiore is the University Hospital for Albert Einstein College of Medicine, one of the nation's premier institutions for medical education, basic research and clinical investigations. This strong alignment enables Montefiore to advance clinical and translational research results more rapidly to the bedside and to the medical community, and educate the next generation of physicians, healthcare leaders and investigators. In place are extensive training programs for medical students, residents and fellows. Through the second-largest medical residency program in the country, Montefiore provides postgraduate clinical training to more than 1,250 residents across 89 accredited residency and fellowship programs. Our progressive focus on comprehensive rather than fragmented care provides the ideal training ground for healthcare leaders of the future. To remain on the cutting-edge of training, we develop and expand programs that advance teamwork, communication and decision-making providing the doctors of tomorrow a unique opportunity for education and training in one of the most diverse urban areas in the country caring for a global population where the disease burden is high and the need for quality care is great. These programs, coupled with Montefiore's mission and vision draw residents from top medical schools who are particularly committed to increasing access to excellent care in an underserved population. Montefiore is dedicated to cultivating the ethical and professional development of all of its trainees. Montefiore's physicians are at the forefront of their fields, actively mentoring and cultivating a new generation of physicians and scientists committed to our mission and values of advancing the front line of health and leading the way in twenty-first century medicine and patient care. Montefiore training experience - clinically advanced and grounded in our organizational values of humanity, innovation, teamwork and equity - extends to all disciplines. On an average over 1,750 undergraduate and graduate nursing staff train at Montefiore as did hundreds of social workers, nutritionists and pharmacists. Montefiore training also extends beyond the graduate level. The Center for Continuing Medical Education (CCME) at Montefiore Medical Center and Albert Einstein College of Medicine, founded in 1976, is accredited by the Accreditation Council for Continuing Medical Education (ACCME). The Center has provided hundreds of CME activities and CME credits to thousands of practitioners. Recognizing the vital importance of developing and embracing innovative techniques and treatments, Montefiore is committed to the utilization of resources for the advancement of physicians' education and delivery of care. Research Montefiore's large biomedical and clinical research initiatives include inquiry into a range of medical and health care delivery issues, including basic research into the fundamental process of disease and its treatment in humans, clinical trials and related clinical research and research into the organization and management of health care services. Montefiore is among 38 academic medical centers nationwide, at that time, to be awarded the Prestigious clinical and translational science award (CTSA) by the National Institutes of Health (NIH). The National Institutes of Health, along with other Federal, State and other funding, supports research in such areas as Aids, Oncology, Pediatrics, Anesthesiology, Emergency Medicine, Neurology, Pathology, Social Medicine and other clinical programs. Montefiore and Einstein are aligned around shared goals, with special emphasis on advancing clinical and translational research to accelerate the pace at which new discoveries become the treatments and therapies of today. At the heart of Montefiore Medical Center's pioneering research initiatives is its unique partnership with Albeert Einstein College of Medicine. Since 1963, Montefiore has served as the University Hospital of Albert Einstein College of Medicine (Einstein), a powerful collaboration between two of the nation's preeminent medical institutions that fosters the creation of knowledge by attracting world-renowned leaders in their fields and promoting opportunities for basic translational and clinical research. This bond was strengthen further in 2015 when Montefiore assumed operational and financial control of the College and, more recently, when Montefiore Medicine Academic Health System, Inc., the parent organization of the Montefiore Health System, Inc., became the sole member of the College. Montefiore and Einstein together have successfully collaborated to secure a National Institute of Health funded $22.5 million clinical and translational Science award to create a research infrastructure to support and promote clinical and translational research. Montefiore researchers are currently involved in more than 500 clinical trials and research studies, helping to translate scientific breakthroughs into cutting edge diagnostics and innovative treatments.

    Expenses $433,525,584 · Grants $116,783 · Revenue $236,326,188

  • Community Services Services to the community are an explicit and essential component of Montefiore's mission and one of its most valued traditions. The Medical Center has a long history of reaching beyond the walls of its hospitals to identify and meet the needs of its community and has been a national leader in organizing and expanding community-based services. Montefiore's commitment to the community has required a multifaceted, continually evolving response, in which the unique capacities of the academic medical center are mobilized to improve the lives of the people and the communities served-not just medically, but socially, economically and environmentally, wherever and whenever resources can make a difference. The Medical Center has maintained and expanded its range of community services, reaching out to and serving un-met health needs, including those with poor access to comprehensive primary care, at-risk and hard to reach children and their families, underserved and at-risk senior citizens, those affected by cancer, those affected by the continuing HIV epidemic in the Bronx, persons with or at-risk for tuberculosis infection, persons affected with problems of substance abuse, the homeless, adults and children with limited access to primary dental care and those affected by chronic health care diseases such as congestive heart failure, diabetes and asthma. Embracing its social responsibility to the community, Montefiore is nationally known as a pioneer in programs that are tailored to the specific needs of the community. Montefiore has been in the vanguard of intervention to combat such conditions as HIV disease, tuberculosis and lead poisoning prevention. Montefiore has sharpened the focus on such issues as childhood obesity, diabetes, improving community access to fresh, healthy foods at green markets and reducing healthcare disparities. Montefiore is aligning components of the delivery system to help improve public outcomes and building behavioral and population-based research to identify best practices. The community served by Montefiore, by several measures, faces many challenges. It is ranked the poorest urban county in the country, leads the nation in rates of diabetes and obesity and other chronic conditions and leads New York City in a host of significant markers: people in "fair or poor health", low birth weight, teen pregnancy, children in poverty, disabled individuals and families living below the poverty line. Montefiore is continuously working to help the community maintain a sense of security and economic stability, as well as to improve such quality-of-life fundamentals as education and affordable housing. Montefiore seeks to advance life in the Bronx beyond the traditional bounds of healthcare, by leading development efforts, promoting safe and productive neighborhoods and taking a leadership role in community business development. Montefiore is an advocate and partner with our neighbors in the Bronx, helping to sustain the community that sustains us.

    Expenses $94,682,021 · Grants $1,283,709 · Revenue $6,543,049

As filed on the 2022 return.

Listed in Part VII

  • PHILIP O OZUAH MD PHD

    President & CEO

    Total calculated
    $9,906,213
    From this org
    $0
    From related orgs
    $9,856,588
    Other
    $49,625
    Hours/week
    40.8 + 19.2 related

    Schedule J breakdown matched by us

    Base
    $0 + $4,478,627 related
    Bonus
    $0 + $4,715,500 related
    Other
    $0 + $662,461 related
    Deferred
    $0 + $17,000 related
    Nontaxable benefits
    $0 + $32,625 related
    Filer's total
    $0 + $9,906,213 related
  • ROBERT MICHLER MD

    CHAIR-Surg/Cardiothoracic Surg

    Total calculated
    $4,535,236
    From this org
    $4,485,357
    From related orgs
    $0
    Other
    $49,879
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $4,482,309
    Bonus
    $0
    Other
    $3,048
    Deferred
    $17,000
    Nontaxable benefits
    $32,879
    Filer's total
    $4,535,236
  • COLLEEN M BLYE

    Exec VP & CFO

    Total calculated
    $3,567,598
    From this org
    $0
    From related orgs
    $3,537,630
    Other
    $29,968
    Hours/week
    36.8 + 23.2 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,644,082 related
    Bonus
    $0 + $1,081,500 related
    Other
    $0 + $812,048 related
    Deferred
    $0 + $17,000 related
    Nontaxable benefits
    $0 + $12,968 related
    Filer's total
    $0 + $3,567,598 related
  • SUSAN GREEN-LORENZEN RN

    System Senior VP-Operations

    Total calculated
    $2,575,364
    From this org
    $0
    From related orgs
    $2,528,339
    Other
    $47,025
    Hours/week
    44 + 16 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,158,456 related
    Bonus
    $0 + $475,900 related
    Other
    $0 + $893,983 related
    Deferred
    $0 + $17,000 related
    Nontaxable benefits
    $0 + $30,025 related
    Filer's total
    $0 + $2,575,364 related
  • Emad Eskandar MD

    Chair-Neurological Surgery

    Total calculated
    $2,036,913
    From this org
    $1,989,186
    From related orgs
    $0
    Other
    $47,727
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $1,988,154
    Bonus
    $0
    Other
    $1,032
    Deferred
    $17,000
    Nontaxable benefits
    $30,727
    Filer's total
    $2,036,913
  • Christopher Panczner

    Asst Sec.-SVP & Gen Counsel

    Total calculated
    $1,898,457
    From this org
    $0
    From related orgs
    $1,857,333
    Other
    $41,124
    Hours/week
    35.7 + 24.3 related

    Schedule J breakdown matched by us

    Base
    $0 + $954,591 related
    Bonus
    $0 + $310,000 related
    Other
    $0 + $592,742 related
    Deferred
    $0 + $17,000 related
    Nontaxable benefits
    $0 + $24,124 related
    Filer's total
    $0 + $1,898,457 related
  • Joseph De Rose MD

    Dir Min Invasive Robotic Surg

    Total calculated
    $1,690,796
    From this org
    $1,645,547
    From related orgs
    $0
    Other
    $45,249
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $1,538,047
    Bonus
    $107,500
    Other
    $0
    Deferred
    $17,000
    Nontaxable benefits
    $28,249
    Filer's total
    $1,690,796
  • Daniel Goldstein MD

    Vice Chair-Cardiothoracic Surg

    Total calculated
    $1,674,228
    From this org
    $1,654,244
    From related orgs
    $0
    Other
    $19,984
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $1,545,712
    Bonus
    $107,500
    Other
    $1,032
    Deferred
    $17,000
    Nontaxable benefits
    $2,984
    Filer's total
    $1,674,228
  • NEIL COBELLI MD

    CHAIR-DEPT. OF ORTHOPEDICS

    Total calculated
    $1,628,169
    From this org
    $1,597,535
    From related orgs
    $0
    Other
    $30,634
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $1,093,209
    Bonus
    $500,000
    Other
    $4,326
    Deferred
    $17,000
    Nontaxable benefits
    $13,634
    Filer's total
    $1,628,169
  • JAY B ABRAMSON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.75 + 2.75 related
  • PATRICIA BAUMAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 0.75 related
  • JAMES M BUTLER

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1.25 + 3 related
  • BRUCE DONIGER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 0.75 related
  • RUTH L GOTTESMAN EdD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 2 related
  • PATRICIA GREEN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 0.75 related
  • THOMAS L HARRISON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 0.75 related
  • JOHN HEFFER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 1.5 related
  • LEWIS HENKIND

    Trustee

    Total calculated
    $0
    Hours/week
    0.5 + 1.75 related
  • HELEN A JOHNSON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.75 + 0.75 related
  • DAVID B KEIDAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 0.75 related
  • ALAN M KLEIN

    Secretary

    Total calculated
    $0
    Hours/week
    1 + 2.5 related
  • STACEY R LANE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 2.5 related
  • JAY B LANGNER

    TRUSTEE (retired 6/30/22)

    Total calculated
    $0
    Hours/week
    0.5 + 0.75 related
  • MARGARET S NATHAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 0.75 related
  • GAYLE F ROBINSON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.75 + 1.75 related
  • JON W ROTENSTREICH

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 0.75 related
  • EDWIN H STERN III

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 0.75 related
  • DAVID A TANNER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 1 related
  • JENNIE EMIL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 0.75 related
  • Nathan Gantcher

    Trustee

    Total calculated
    $0
    Hours/week
    0.5 + 2 related
  • Catherine Klema

    Vice Chair

    Total calculated
    $0
    Hours/week
    1 + 3 related
  • Melissa Ceriale

    Trustee

    Total calculated
    $0
    Hours/week
    0.75 + 3.25 related
  • BARRY S BLATTMAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.75 + 1.75 related
  • MATTHEW H NORD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 1 related
  • MICHAEL A STOCKER MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.75 + 2.5 related
  • JOEL BRAUN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 0.75 related
  • EMANUEL CHIRICO

    TREASURER

    Total calculated
    $0
    Hours/week
    0.75 + 1.75 related
  • ALISA R DOCTOROFF

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.75 + 3.25 related
  • JOHN P GUTFREUND

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 0.75 related
  • RONALD L MOELIS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.75 + 1.25 related
  • ALAN N SUNA

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 0.75 related
  • DANIEL R TISHMAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 2.75 related
  • ELLEN BRESLOW NEWHOUSE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 0.75 related
  • DOUGLAS F EISENBERG

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 0.75 related
  • ALLEN M SPIEGEL MD

    TRUSTEE (APPOINTED 6/30/22)

    Total calculated
    $0
    Hours/week
    0.5 + 0.75 related
  • JONATHAN A LIPTON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 1 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

  • 1a · First-class or charter travel
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing 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
  • 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 1a
One officer traveled first class as provided for under Medical center policy. All such travel was for Medical Center business purposes, accordingly, the cost of such travel was not included in his taxable income.
Schedule J, Part I, Lines 3, 4b & Part II - Columns (B)(i), (ii) and (iii)
As it relates to compensation from Montefiore Medicine Academic Health System, Inc. and Montefiore Health System, Inc. for all officers and key employees: 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 similar organizations. Base salaries in Column B(i) are determined based on competitive market practices for comparable positions with similar sized organizations and scope of responsibilities. 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 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: Susan Green-Lorenzen, R.N. - $871,397; Philip O. Ozuah, M.D., PH.D. - $632,224; Christopher Panczner - $558,708; Colleen Blye - $810,464. The Health System also funds a nonqualifying defined contribution SERP plan. An officer 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. During 2022, there were no distributions from the plan to the participating officer. Unvested accrued contributions made to the plan in 2022 were not reported as deferred compensation in column (C) for this officer (Philip Ozuah, M.D., Ph.D.) since the accrual will be paid out no later than two and a half months after year end.
Schedule J, Part II - Compensation from related organizations
All officers and key employees of Montefiore Medical Center are paid by either Montefiore Medicine Academic Health System, Inc., the parent company of Montefiore Health System, Inc. or Montefiore Health System, Inc., the parent of Montefiore Medical Center. The organization, in turn, reimburses the health systems for its expenses through the membership fees that are assessed for each of the benefitting entities.
Schedule J, Part I, Line 7
The annual incentive award in column (B)(II) paid to three of the organization five highest compensated individuals was based on 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

The 10 largest by cash amount. The API serves every itemized grant.

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
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202343179349311564

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