2023-11-13T23:37:43-06:00 2022-12-31 861065772 DELOITTE TAX LLP 7900 TYSONS ONE PLACE SUITE 800 MCLEAN VA 22102 990 2022-01-01 861888783 MOUNT SINAI ELDERCARE INC MOUN 9042344338 4300 ALTON ROAD MIAMI BEACH FL 33140 ALEXANDER MENDEZ EXECUTIVE VP/CFO 3056742032 2023-11-13 1 ALEXANDER MENDEZ XXX-XX-XXXX 0 RACHEL KAUFMAN P01485017 7032511000 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z GINO SANTORIO 4300 ALTON ROAD MIAMI BEACH FL 33140 0 0 X WWW.MSMC.COM X 2021 FL TO AID SENIORS IN REMAINING IN THE COMMUNITY THROUGH TEAM-BASED, QUALITY CARE AND SUPPORT THAT ADDRESSES THEIR INDIVIDUAL NEEDS AND PREFERENCES WITH PROFESSIONALISM AND COMPASSION. 6 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 247157 0 0 0 0 474580 0 721737 0 -721737 500 3883751 500 17294 0 3866457 X TO AID SENIORS IN REMAINING IN THE COMMUNITY THROUGH TEAM-BASED, QUALITY CARE AND SUPPORT THAT ADDRESSES THEIR INDIVIDUAL NEEDS AND PREFERENCES WITH PROFESSIONALISM AND COMPASSION. 0 0 4610 MOUNT SINAI ELDERCARE, INC. CONTINUED ITS STARTUP PHASE AND WAS NOT OPERATIONAL IN 2022. IN 2022, MOUNT SINAI ELDERCARE, INC. COMPLETED ITS READINESS REVIEW AUDIT CONDUCTED BY CENTERS FOR MEDICARE AND MEDICAID SERVICES (CMS) AND TO FLORIDA'S AGENCY FOR HEALTH CARE ADMINISTRATION MEDICAID DIVISION. MOUNT SINAI ELDERCARE, INC. IS PROJECTING TO RECEIVE FULL APPROVAL IN MARCH OF 2023 AND WILL THEN BEGIN TO ENROLL SENIORS INTO ITS PACE PROGRAM. ENROLLMENTS ARE PROJECTED TO BEGIN IN SEPTEMBER 2023. AT THIS TIME, WE EXPECT TO ENROLL FIVE NEW PARTICIPANTS PER MONTH TO REACH A CENSUS OF 60 PARTICIPANTS IN TWELVE MONTHS. THE INTERDISCIPLINARY TEAM WILL WORK TOGETHER TO DEVELOP A COMPREHENSIVE CARE PLAN FOR EACH PARTICIPANT FOCUSED ON MEETING THEIR INDIVIDUAL HEALTH GOALS WHILE AIDING THEM TO CONTINUE TO LIVE SAFELY IN THE COMMUNITY AND AVOIDING NURSING HOME PLACEMENT. THE MEDICAL AND SOCIAL SERVICES PROVIDED BY ELDERCARE INCLUDES ADULT DAYCARE, HOME HEALTH SERVICES, TRANSPORTATION, HOME DELIVERED MEALS, REHABILITATIVE THERAPY, PRESCRIPTION MEDICATIONS, AND ACCESS TO MOUNT SINAI PRIMARY CARE AND SPECIALTY CARE PHYSICIANS. 4610 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 6 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 1 1 0 0 0 X LOURDES DIAZ 3056742032 4300 ALTON ROAD MIAMI BEACH FL 33140 GINO SANTORIO PRESIDENT/CEO 0.50 61.00 X X 0 1697116 70628 ROBERT GOLDSZER MD SENIOR VP/CMO 3.00 57.00 X X 0 748457 81967 ALEXANDER A MENDEZ EXECUTIVE VP/CFO 0.50 60.50 X X 0 1344342 93781 ANGEL PALLIN SENIOR VP/COO 3.00 57.00 X X 0 614195 96309 LYNDA BARCELO VP MGN CARE & POP HEALTH 15.00 45.00 X X 0 234789 49401 NEISEN KASDIN COMMUNITY REPRESENTATIVE 0.00 0.00 X 0 0 0 STEVEN SONENREICH FORMER PRESIDENT 0.00 0.00 X 0 1005929 73459 0 5644828 465545 0 1 1 0 0 0 0 0 0 212040 212040 35117 35117 10892 10892 1110 1110 798 798 228752 1461 227291 CORPORATE MGMT FEE 229212 229212 MISC. EXPENSES 3816 3149 667 721737 4610 717127 0 500 1800 4110703 228752 0 3881951 500 3883751 500 17294 500 17294 X 3866457 0 3866457 500 3883751 X -721737 4588194 X 0 1 X 1 0 X 0 0 X 3331877 166594 3165283 778826 62158 716668 3881951 X PART X, LINE 2: THE MEDICAL CENTER IS A NOTFORPROFIT CORPORATION AND HAS BEEN RECOGNIZED AS TAX EXEMPT PURSUANT TO SECTION 501(C)(3) OF THE IRC. THE IRC PROVIDES FOR TAXATION OF UNRELATED BUSINESS INCOME UNDER CERTAIN CIRCUMSTANCES. MANAGEMENT HAS CONCLUDED THAT THE MEDICAL CENTER HAS NO MATERIAL UNRELATED BUSINESS INCOME. THE MEDICAL CENTER FOLLOWS THE PROVISIONS OF ASC 740152, INCOME TAXES, AND HAS DETERMINED THAT AS OF DECEMBER 31, 2022 AND 2021, THE MEDICAL CENTER HAD NO MATERIAL UNRECOGNIZED TAX BENEFITS. THE MEDICAL CENTER DOES NOT EXPECT THAT UNRECOGNIZED TAX BENEFITS WILL MATERIALLY INCREASE WITHIN THE NEXT 12 MONTHS. IN THE EVENT THE MEDICAL CENTER WERE TO RECOGNIZE INTEREST AND PENALTIES RELATED TO UNCERTAIN TAX POSITIONS, IT WOULD BE RECOGNIZED IN THE CONSOLIDATED FINANCIAL STATEMENTS AS INCOME TAX EXPENSE. TAX YEARS FROM 2017 THROUGH 2022 ARE SUBJECT TO EXAMINATION BY THE FEDERAL AND STATE TAXING AUTHORITIES. THERE ARE NO INCOME TAX EXAMINATIONS CURRENTLY IN PROCESS. 0 0 0 0 0 0 0 0 0 GINO SANTORIO PRESIDENT/CEO 0 1464761 0 218750 0 13605 0 27850 0 42778 0 1767744 0 0 ALEXANDER A MENDEZ EXECUTIVE VP/CFO 0 686702 0 294116 0 363524 0 54850 0 38931 0 1438123 0 0 STEVEN SONENREICH FORMER PRESIDENT 0 845517 0 0 0 160412 0 47500 0 25959 0 1079388 0 0 ROBERT GOLDSZER MD SENIOR VP/CMO 0 451804 0 99814 0 196839 0 54850 0 27117 0 830424 0 0 ANGEL PALLIN SENIOR VP/COO 0 389038 0 130633 0 94524 0 54850 0 41459 0 710504 0 0 LYNDA BARCELO VP MGN CARE & POP HEALTH 0 186609 0 48000 0 180 0 27850 0 21551 0 284190 0 0 PART I, LINE 3 THE ORGANIZATION'S CEO/EXECUTIVE DIRECTOR ARE EMPLOYED BY MOUNT SINAI MEDICAL CENTER OF FLORIDA, INC. (EIN: 59-0624424), A RELATED PARTY THAT HAS BEEN RECOGNIZED AS TAX EXEMPT AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. AS A RESULT, THE ORGANIZATION RELIED ON THE METHODS OF ESTABLISHING COMPENSATION USED BY MOUNT SINAI MEDICAL CENTER OF FLORIDA, INC. THE FOLLOWING METHODS WERE USED TO ESTABLISH SUCH COMPENSATION: - COMPENSATION COMMITTEE - INDEPENDENT COMPENSATION CONSULTANT - WRITTEN EMPLOYMENT CONTRACT - COMPENSATION SURVEY OR STUDY - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE. FORM 990, PART VI, SECTION A, LINE 8A MOUNT SINAI ELDERCARE, INC. WAS NOT OPERATIONAL IN 2022 AND THEREFORE, DID NOT HOLD ANY GOVERNING BODY MEETINGS. FORM 990, PART VI, SECTION A, LINE 8B MOUNT SINAI ELDERCARE, INC. WAS NOT OPERATIONAL IN 2022 AND THEREFORE, COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY DID NOT MEET. FORM 990, PART VI, SECTION B, LINE 11B THE PROCESS FOR REVIEW OF THE FORM 990 BY MEMBERS OF THE GOVERNING BODY AND MANAGEMENT IS AS FOLLOWS: THE MEMBERS OF THE GOVERNING BODY AND MANAGEMENT WILL MEET AND REVIEW IN DETAIL THE COMPLETED FORM 990. A FINAL DRAFT OF FORM 990 IS PROVIDED TO ALL VOTING MEMBERS OF THE ORGANIZATION BEFORE THE FINAL FORM IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY: MOUNT SINAI MEDICAL CENTER OF FLORIDA, INC. AND SUBSIDIARIES (THE "MEDICAL CENTER") FORMALLY IMPLEMENTED A WRITTEN CONFLICT OF INTEREST POLICY (THE "POLICY") IN MARCH 2006 TO PROTECT THE MEDICAL CENTER AND ENSURE THAT THE DELIBERATIONS AND DECISIONS MADE ON BEHALF OF THE MEDICAL CENTER ARE MADE IN THE BEST INTEREST OF THE MEDICAL CENTER. THE TERM "CONFLICT OF INTEREST" AS DEFINED BY THIS POLICY REFERS TO SITUATIONS IN WHICH FINANCIAL OR OTHER PERSONAL CONSIDERATIONS MAY COMPROMISE, OR HAVE THE APPEARANCE OF COMPROMISING, THE JUDGMENT OF SOMEONE CHARGED WITH THE RESPONSIBILITY TO ACT ON BEHALF OF THE MEDICAL CENTER. THIS POLICY IS REVIEWED PERIODICALLY BUT NOT LESS THAN ONCE A YEAR BY THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES TO BETTER MEET ITS OBJECTIVES. IT IS INTENDED TO SUPPLEMENT BUT NOT REPLACE ANY APPLICABLE LAWS GOVERNING CONFLICTS OF INTEREST IN NONPROFIT AND CHARITABLE ORGANIZATIONS. PERSONS COVERED UNDER THIS POLICY INCLUDE: (1) ANY CURRENT OR FORMER TRUSTEE, OFFICER, OR MEMBER OF A COMMITTEE WITH BOARD DELEGATED POWERS FOR THE MEDICAL CENTER; (2) MEMBERS OF MANAGEMENT AND ANY EMPLOYEE OF THE MEDICAL CENTER WHO: A) RECEIVES COMPENSATION FROM THE MEDICAL CENTER IN EXCESS OF $150,000 ANNUALLY, WHETHER AS A FULL- OR PART-TIME EMPLOYEE, INDEPENDENT CONTRACTOR, OR OTHERWISE, AND, B) HAS RESPONSIBILITIES, POWER OF INFLUENCE OVER AN ACTIVITY OF THE MEDICAL CENTER SIMILAR TO THAT OF AN OFFICER OR TRUSTEE AND WHICH REPRESENTS MORE THAN 10% OF THE ACTIVITIES, ASSETS, INCOME OR EXPENSES OF THE MEDICAL CENTER, AND C) IS ONE OF THE TWENTY EMPLOYEES WITH THE HIGHEST COMPENSATION FROM THE MEDICAL CENTER. (3) ANY PERSON(S) WHO SERVE AS A MEMBER OF THE MEDICAL CENTER'S MEDICAL STAFF AS A CHAIRPERSON OF A DEPARTMENT, CHIEF OF A CLINICAL SERVICE, OR MEMBER OF THE MEDICAL EXECUTIVE COMMITTEE. MONITORING AND COMPLIANCE: AN IMPORTANT STEP IN MONITORING AND ENFORCING COMPLIANCE WITH A CONFLICT OF INTEREST POLICY INCLUDES MANAGEMENT'S EDUCATION EFFORTS TO MAKE INTERESTED PERSONS AWARE OF THE ORGANIZATION'S CONFLICT OF INTEREST POLICY. TO THAT END, MANAGEMENT HAS INCLUDED IN ITS CODE OF CONDUCT (THE "CODE") A SECTION ON CONFLICTS OF INTEREST WHICH HAS TO BE SIGNED AND RETURNED BY EVERY INTERESTED PERSON TO ACKNOWLEDGE AND ATTEST THAT THEY READ THE CODE INCLUDING THE CONFLICT OF INTEREST SECTION. ANNUALLY, INTERESTED PERSONS ALSO RECEIVE A REFRESHER TRAINING SESSION ON ETHICS AND CONFLICTS OF INTEREST. IN ADDITION, THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES HAS CREATED A SUBCOMMITTEE ON CONFLICTS OF INTEREST ("CONFLICTS COMMITTEE") TO ADMINISTER AND MONITOR COMPLIANCE WITH THIS POLICY. THE CONFLICTS COMMITTEE REQUIRES A STATEMENT FROM EACH INTERESTED PERSON NOT LESS FREQUENTLY THAN ONCE A YEAR SETTING FORTH ALL BUSINESS AND OTHER AFFILIATIONS THAT RELATE IN ANY WAY TO THE BUSINESS AND OTHER ACTIVITIES OF THE MEDICAL CENTER. INTERNAL AUDIT COMPILES AND SUMMARIZES ALL THE DISCLOSURES RECEIVED FROM INTERESTED PERSONS TO FACILITATE THEIR REVIEW BY THE CONFLICTS COMMITTEE. THE CONFLICTS COMMITTEE INDIVIDUALLY DISCUSSES EACH DISCLOSURE TO EVALUATE WHETHER A CONFLICT OF INTEREST EXISTS AND DETERMINES THE APPROPRIATE COURSE OF ACTION TO TAKE. NEITHER THE BOARD NOR ANY COMMITTEE OF THE BOARD SHALL VOTE UPON ANY PROPOSED TRANSACTION OR ARRANGEMENT IN CONNECTION WITH A POTENTIAL CONFLICT OF INTEREST UNTIL SUCH TIME AS THE CONFLICTS COMMITTEE HAS DETERMINED WHETHER A CONFLICT OF INTEREST EXISTS. WHERE THE CONFLICTS COMMITTEE HAS CONCLUDED THAT A CONFLICT OF INTEREST EXISTS, THE CHAIRMAN OF THE CONFLICTS COMMITTEE SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO A PROPOSED TRANSACTION, CONTRACT, OR ARRANGEMENT. IF THE CONFLICTS COMMITTEE DETERMINES THAT THE MEDICAL CENTER CAN OBTAIN A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT WITH REASONABLE EFFORTS FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST, THEN THE MEDICAL CENTER SHALL NOT ENTER INTO THE TRANSACTION THAT INVOLVES THE CONFLICT OF INTEREST. IF A TRANSACTION OR ARRANGEMENT MORE ADVANTAGEOUS IS NOT REASONABLY ATTAINABLE UNDER THE CIRCUMSTANCES THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST, THEN THE BOARD OR COMMITTEE, AS APPLICABLE, SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED TRUSTEES WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE MEDICAL CENTER'S BEST INTEREST AND WHETHER IT IS FAIR AND REASONABLE TO THE MEDICAL CENTER, AND SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT IN CONFORMITY WITH SUCH DETERMINATION. FAILURE BY AN INTERESTED PERSON TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST UNDER THE CONFLICT OF INTEREST POLICY IS CONSIDERED A SERIOUS MATTER AND MAY CONSTITUTE "CAUSE" FOR REMOVAL OR TERMINATION OF A TRUSTEE, OFFICER, OR THE TERMINATION OF ANY CONTRACTUAL OR EMPLOYMENT RELATIONSHIP THE MEDICAL CENTER MAY HAVE WITH AN INTERESTED PERSON OR OTHER PARTY. FORM 990, PART VI, SECTION B, LINE 15 ON AN ANNUAL BASIS, THE MOUNT SINAI MEDICAL CENTER COMPENSATION COMMITTEE CONTRACTS WITH AN INDEPENDENT CONSULTANT TO PREPARE AN OPINION REGARDING THE REASONABLENESS AND COMPARABILITY OF THE TOTAL COMPENSATION PROVIDED TO ITS SENIOR OFFICERS AND KEY EMPLOYEES. THE COMPENSATION COMMITTEE INFORMS THE INDEPENDENT CONSULTANT THAT THE INDEPENDENT CONSULTANT'S OPINION WILL BE PART OF THE COMMITTEE'S PROCEDURE FOR ESTABLISHING THE REBUTTABLE PRESUMPTION OF REASONABLENESS DESCRIBED IN THE INCOME TAX REGULATIONS. THE INDEPENDENT CONSULTANT'S DETERMINATION OF REASONABLENESS IS MADE AFTER A THOROUGH REVIEW OF ALL THE ELEMENTS OF THE TOTAL COMPENSATION COMPRISED OF: CASH COMPENSATION, HEALTH AND WELFARE BENEFITS, RETIREMENT BENEFITS, EXECUTIVE BENEFITS AND PERQUISITES, AND OTHER ELEMENTS OF COMPENSATION INCLUDING SEVERANCE ARRANGEMENTS. THE OPINION EXPRESSED BY THE INDEPENDENT CONSULTANT IS THEN PRESENTED TO THE MSMC COMPENSATION COMMITTEE IN A REPORT FORM FOR THEIR REVIEW. THE OPINION REPORT IS REFERRED TO BY THE COMPENSATION COMMITTEE WHEN DETERMINING AND APPROVING THE ANNUAL COMPENSATION FOR ITS SENIOR OFFICERS AND KEY EMPLOYEES. THE MSMC COMPENSATION COMMITTEE PRESENTS ITS DETERMINATION TO THE MSMC EXECUTIVE COMMITTEE FOR ITS FINAL APPROVAL. MOUNT SINAI ELDERCARE, INC. RELIES ON THE PROCESS FOR DETERMINING COMPENSATION PERFORMED AT MSMC AND WILL ALSO UTILIZE THE SALARY AND BENEFIT REPORT PRODUCED BY THE NATIONAL PACE ASSOCIATION. FORM 990, PART VI, SECTION C, LINE 19 POLICY FOR ANNUAL INFORMATION REQUEST: DOCUMENTS THAT ARE REQUIRED TO BE OPEN FOR PUBLIC INSPECTION ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: INTERCOMPANY EQUITY TRANSFER 4,588,194. MT SINAI MEDICAL CENTER FOUNDATION INC 4300 ALTON ROAD MIAMI BEACH FL 33140 591711400 FOUNDATION FL 501(C)(3) LINE 7 MT SINAI MEDICAL CENTER OF FLORIDA INC 0 MT SINAI MEDICAL OFFICE BUILDING II INC 4300 ALTON ROAD MIAMI BEACH FL 33140 205737392 TITLE LEASE FL 501(C)(3) LINE 2 MT SINAI MEDICAL CENTER OF FLORIDA INC 0 MT SINAI MEDICAL CENTER OF FLORIDA INC 4300 ALTON ROAD MIAMI BEACH FL 33140 590624424 HOSPITAL FL 501(C)(3) LINE 3 N/A 0 MT SINAI MEDICAL CENTER INSURANCE TRUST 4300 ALTON ROAD MIAMI BEACH FL 33140 591830065 TRUST FL 501(C)(3) LINE 12B, II MT SINAI MEDICAL CENTER OF FLORIDA INC 0 RIGHT CHOICE MANAGEMENT SERVICES INC 4300 ALTON ROAD MIAMI BEACH FL 33140 650728277 MGMT SERVICES FL N/A S 0 MT SINAI MED CTR OF FL GUARANTEE CORP PO BOX 1051 KY1-1102 CJ INSURANCE CJ N/A C 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 MOUNT SINAI MEDICAL CENTER OF FLORIDA INC S 4588194 FAIR MARKET VALUE