Montefiore Health System Inc
- Assets
- $787.6m
- Revenue
- $277.7m
- Investments
- $5.3m
- Employees
- 888
- Location
- Tarrytown, NY
- Founding
- 07/2005
- Data as of
- 12/2021
- EIN
- 20-1615393
Organization Overview
Montefiore Health System Inc is located in Tarrytown, NY. The organization was established in 2005. According to its NTEE Classification (E19) the organization is classified as: Support N.E.C., under the broad grouping of Health Care and related organizations. As of 12/2021, Montefiore Health System Inc employed 888 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Montefiore Health System Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Montefiore Health System Inc generated $277.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $337.2m during the year ending 12/2021. While expenses have increased by 9.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO HEAL, TO TEACH, TO DISCOVER AND TO ADVANCE THE HEALTH OF THE COMMUNITIES WE SERVE.
Describe the Organization's Program Activity:
MONTEFIORE INFORMATION TECHNOLOGY (MIT), EIN 13-4179243, IS A DISREGARDED ENTITY OF MONTEFIORE HEALTH SYSTEM, INC. MIT WAS ORGANIZED PRIMARILY TO PROVIDE INFORMATION TECHNOLOGY CONSULTING SERVICES TO THE MEMBER ORGANIZATIONS OF THE HEALTH SYSTEM. MONTEFIORE MEDICAL CENTER, THE UNIVERSITY HOSPITAL FOR ALBERT EINSTEIN COLLEGE OF MEDICINE AND A MEMBER ORGANIZATION OF THE HEALTH SYSTEM, IS ONE OF HEALTHCARE'S MOST WIRED HOSPITALS, WIDELY RECOGNIZED FOR ITS ABILITY TO ADOPT NEW TECHNOLOGY TO SUPPORT CLINICAL CARE, PATIENT SAFETY AND PRIVACY, INFRASTRUCTURE, BUSINESS AND ADMINISTRATIVE MANAGEMENT AND THE CONTINUUM OF CARE. OUR EXPECTS ARE CONTINUOUSLY WORKING TO DEPLOY NEW TECHNOLOGIES AND DEFINE NEW BUSINESS PRACTICES AS WE PROVIDE STAKEHOLDERS ACROSS THE INSTITUTION WITH THE RESOURCES NEEDED TO MEET THEIR MOST DIFFICULT CHALLENGES.
MONTEFIORE HMO, LLC ("MHMO"), A NEW YORK LIMITED LIABILITY COMPANY, IS A DISREGARDED ENTITY OF MONTEFIORE HEALTH SYSTEM, INC. AND OPERATES AS A MANAGED LONG TERM CARE PLAN (MLTCP) WITHIN THE NEW YORK STATE COUNTIES OF WESTCHESTER AND THE BRONX. MHMO CONTRACTS WITH THE NEW YORK STATE DEPARTMENT OF HEALTH (NYSDOH) TO PROVIDE MEDICAID HEALTH AND LONG-TERM CARE SERVICES TO CHRONICALLY ILL OR DISABLED INDIVIDUALS WHO REQUIRE MORE THAN 120 DAYS OF CONTINUOUS CARE. MONTEFIORE HMO PROVIDES AND COORDINATES SERVICES DESIGNED TO KEEP MEMBERS LIVING IN THEIR OWN HOMES. THE PLAN ARRANGES FOR AND PAYS CERTAIN HEALTH AND SOCIAL SERVICES, INCLUDING CARE MANAGEMENT, HOME HEALTHCARE, CONSUMER-DIRECTED PERSONAL CARE, NURSING SERVICES, REHABILITATION, DENTAL AND OTHER PERSONAL SERVICES. IN 2021, MONTEFIORE HMO MANAGED 20,565 MEMBER MONTHS OF CONTRACTED LONG TERM CARE.
MONTEFIORE HEALTH SYSTEM, INC. SERVES AS THE DIRECT PARENT OR INDIRECT PARENT CORPORATION OPERATING IN FURTHERANCE AND SUPPORT OF MONTEFIORE MEDICAL CENTER, MONTEFIORE NEW ROCHELLE HOSPITAL, MONTEFIORE MOUNT VERNON HOSPITAL, SCHAFFER EXTENDED CARE CENTER, MONTEFIORE NYACK HOSPITAL, WHITE PLAINS HOSPITAL MEDICAL CENTER, THE WINIFRED MASTERSON BURKE REHABILITATION HOSPITAL, ST LUKE'S CORNWALL HEALTH SYSTEM, INC. AS WELL AS THE OTHER NOT-FOR PROFIT AND FOR-PROFIT ENTITIES THAT HAVE BEEN FORMED IN CONNECTION WITH THE CHARITABLE, EDUCATIONAL AND SCIENTIFIC PURPOSES, MISSIONS, AND OBJECTIVES OF THE CORPORATION AND THE MONTEFIORE HEALTH SYSTEM. MONTEFIORE HEALTH SYSTEM'S OBJECTIVE IS TO IMPROVE AND ENHANCE THE GENERAL HEALTH AND WELL-BEING OF THE COMMUNITIES IT SERVES BY PROVIDING VARIOUS GOVERNANCE AND SUPPORT SERVICES TO THE CONSTITUENT ENTITIES OF THE HEALTH SYSTEM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Green-Lorenzen RN System Senior Vp-Operations | Officer | 2 | $2,570,242 |
Andrew Racine MD PHD SVP & Chief Medical Officer | 0 | $2,319,930 | |
Stephen Rosenthal Svp-Net Population Health Mgmt | 0 | $1,709,840 | |
John Wolf SVP & Cio | 0 | $1,315,575 | |
Jeffrey Menkes Sys Svp-Sys Network Management | 0 | $1,033,389 | |
Catherine C Skae MD Vp-Graduate Medical Education | 0 | $567,188 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Recco Home Care Services Inc Home Health Services | 12/30/21 | $7,895,787 |
Health Acquisition Corporation Home Health Services | 12/30/21 | $6,878,262 |
Infor Us Inc System Conversion | 12/30/21 | $19,186,849 |
Accent Care Of Ny Inc Home Health Services | 12/30/21 | $10,706,436 |
Optimum Healthcare It Llc It Consulting Serv. | 12/30/21 | $7,315,272 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $275,140,318 |
| Investment income | $2,526,819 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $277,667,137 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,625 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,211,895 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $111,093,768 |
| Pension plan accruals and contributions | $1,758,063 |
| Other employee benefits | $26,665,053 |
| Payroll taxes | $7,481,804 |
| Fees for services: Management | $11,440,576 |
| Fees for services: Legal | $5,635 |
| Fees for services: Accounting | $1,393,716 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $19,900,418 |
| Advertising and promotion | $1,875,814 |
| Office expenses | $28,682 |
| Information technology | $12,874,008 |
| Royalties | $0 |
| Occupancy | $13,456,888 |
| Travel | $326,548 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $289,851 |
| Interest | $4,507,957 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,738,013 |
| Insurance | $127,718 |
| All other expenses | $734,236 |
| Total functional expenses | $337,227,075 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $34,558,886 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $952,698 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $49,786,758 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,350,403 |
| Net Land, buildings, and equipment | $114,109,155 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $5,343,311 |
| Investments—program-related | $542,384,000 |
| Intangible assets | $0 |
| Other assets | $36,065,752 |
| Total assets | $787,550,963 |
| Accounts payable and accrued expenses | $59,808,821 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $260,772,281 |
| Total liabilities | $320,581,102 |
| Net assets without donor restrictions | $440,556,861 |
| Net assets with donor restrictions | $26,413,000 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $787,550,963 |
Grants Awarded
Over the last fiscal year, Montefiore Health System Inc has awarded $357,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: donation | $350,000 |
Bronx, NY PURPOSE: Donation | $7,500 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Montefiore Health System Inc has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
Jjj Family Foundation Old Greenwich, CT PURPOSE: FOR MISSION SUPPORT | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Penn State Health Hershey, PA | $1,838,675,424 | $534,372,914 |
Baystate Medical Practices Inc Springfield, MA | $74,830,702 | $390,418,446 |
Beth Israel Lahey Health Inc Hcsr Cambridge, MA | $172,006,261 | $340,775,421 |
Montefiore Health System Inc Tarrytown, NY | $787,550,963 | $277,667,137 |
Chs Services Inc Rockville Centre, NY | $406,825,660 | $247,222,017 |
Hackensack Meridian Health Medical Group-Complex Care Pc Edison, NJ | $3,817,906 | $126,145,858 |
Clny Alliance Inc Westbury, NY | $6,584,050 | $105,064,561 |
Metropolitan Jewish Health System Inc Brooklyn, NY | $32,845,157 | $60,897,961 |
Bhs Management Services Inc Pittsfield, MA | $13,878,058 | $69,134,374 |
Integrace Inc Fort Washington, PA | $287,623,657 | $61,949,797 |
Capital Area Health Consortium Inc Farmington, CT | $8,150,693 | $60,880,369 |
Royal Charter Properties Inc New York, NY | $137,963,781 | $43,558,448 |