2024-11-15T00:56:51-06:00 2023-12-31 861065772 DELOITTE TAX LLP 7900 TYSONS ONE PLACE SUITE 800 MCLEAN VA 22102 990 2023-01-01 591711400 MOUNT SINAI MEDICAL CENTER FOUNDATION MOUN 3056742777 4300 ALTON ROAD MIAMI BEACH FL 33140 ALEXANDER MENDEZ EXECUTIVE VP/CFO 3056742032 2024-11-14 1 0 RACHEL KAUFMAN P01485017 7032511000 2023 2024-10-15 13:58:12Z GINO SANTORIO 4300 ALTON ROAD MIAMI BEACH FL 33140 110752586 0 X MSMCFOUNDATION.ORG X 1976 FL TO RAISE FUNDS TO SUPPORT MOUNT SINAI MEDICAL CENTER OF FLORIDA, INC., A NOT-FOR-PROFIT ACUTE CARE TEACHING AND RESEARCH FACILITY, SO THAT IT MAY PROVIDE HIGH QUALITY HEALTH CARE TO OUR DIVERSE COMMUNITY ENHANCED THROUGH TEACHING, RESEARCH, CHARITY CARE AND FINANCIAL RESPONSIBILITY. 34 32 10 32 0 0 44713516 75489192 0 0 3034073 7929371 0 0 47747589 83418563 9887390 16545137 0 0 2029548 2405160 0 0 722933 3755989 9332990 15672927 28283287 32074662 55135276 397671758 492637947 2521453 657457 395150305 491980490 TO RAISE FUNDS TO SUPPORT MOUNT SINAI MEDICAL CENTER OF FLORIDA, INC., A NOT-FOR-PROFIT ACUTE CARE TEACHING AND RESEARCH FACILITY, SO THAT IT MAY PROVIDE HIGH QUALITY HEALTH CARE TO OUR DIVERSE COMMUNITY ENHANCED THROUGH TEACHING, RESEARCH, CHARITY CARE AND FINANCIAL RESPONSIBILITY. 0 0 25694920 16545137 0 THE FOUNDATION RAISES FUNDS FOR MOUNT SINAI MEDICAL CENTER, A 501(C)(3) ORGANIZATION, FOR CAPITAL AND NON-CAPITAL PURPOSES. 25694920 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 3 0 1 10 1 0 0 0 0 0 0 0 0 0 0 0 0 X 34 32 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 0 0 0 FL X CAMILLE LEWIS 3056742030 4300 ALTON ROAD MIAMI BEACH FL 33140 GINO SANTORIO DIRECTOR, PRESIDENT/CEO MSMC 0.50 61.00 X 0 1860277 74144 STEVEN D SONENREICH FORMER DIRECTOR 0.00 0.00 X 0 1084684 0 MICHAEL MILBERG CHIEF DEV. OFF./DIRECTOR (END 3/23) 60.00 0.00 X X 525562 0 13906 MAX SKLAR VICE PRESIDENT 60.00 0.00 X X 435262 0 16052 MICHAEL MOWATT AVP OF DEVELOPMENT 60.00 0.00 X 174601 0 34183 DENA WILLMAN AVP OF DEVELOPMENT 60.00 0.00 X 170958 0 37485 MIA OLSEN GLASSBERG AVP OF DEVELOPMENT 60.00 0.00 X 136103 0 20924 IAN BEHAR DIRECTOR (AS OF 1/23) 0.50 0.00 X 0 0 0 KATE BLOOM DIRECTOR (AS OF 1/23) 0.50 0.00 X 0 0 0 BARRY BRODSKY DIRECTOR 0.50 0.00 X 0 0 0 DAVID DEUTCH DIRECTOR 0.50 2.00 X 0 0 0 BETH DOZORETZ DIRECTOR (AS OF 1/23) 0.50 0.00 X 0 0 0 MICK DUCHON DIRECTOR 0.50 0.00 X 0 0 0 NORMAN S EDELCUP DIRECTOR 0.50 0.00 X 0 0 0 LISA GERSH DIRECTOR (AS OF 1/23) 0.50 0.00 X 0 0 0 BARTON S GOLDBERG DIRECTOR 0.50 0.00 X 0 0 0 MICHAEL S GOLDBERG DIRECTOR 0.50 0.00 X 0 0 0 JAY GOLDMAN DIRECTOR 0.50 0.00 X 0 0 0 MARK H HILDEBRANDT DIRECTOR 0.50 2.00 X 0 0 0 JEFFREY B KINDLER DIRECTOR (AS OF 1/23) 0.50 0.00 X 0 0 0 R LEE KRELSTEIN DIRECTOR (AS OF 1/23) 0.50 0.00 X 0 0 0 MARICRUZ LATNER DIRECTOR 0.50 0.00 X 0 0 0 CAROLINE BIERBAUM LEFRAK DIRECTOR (END 1/23) 0.50 0.00 X 0 0 0 JORDAN LEVY DIRECTOR 0.50 0.00 X 0 0 0 JASON LOEB DIRECTOR 0.50 0.00 X 0 0 0 ROBERT MITZMAN DIRECTOR 0.50 0.00 X 0 0 0 STANLEY O'NEAL DIRECTOR 0.50 0.00 X 0 0 0 JAY PARKER DIRECTOR 0.50 0.00 X 0 0 0 MARK REVITZ DIRECTOR 0.50 0.00 X 0 0 0 MARC ROBERTS DIRECTOR (AS OF 1/23) 0.50 0.00 X 0 0 0 ADAM ROSENFELD DIRECTOR 0.50 0.00 X 0 0 0 MELISSA RUBIN DIRECTOR 0.50 0.00 X 0 0 0 IRA SAFERSTEIN DIRECTOR 0.50 0.00 X 0 0 0 BARRY SKOLNICK CHAIRMAN/DIRECTOR 0.50 2.00 X 0 0 0 STEPHEN TEMES DIRECTOR 0.50 0.00 X 0 0 0 JOSHUA WALLACK DIRECTOR (AS OF 1/23) 0.50 0.00 X 0 0 0 PERRY WEITZ DIRECTOR (AS OF 1/23) 0.50 0.00 X 0 0 0 DR ANTONIO FERNANDEZ PRESIDENT (AS OF 1/23) 0.50 0.00 X X 0 0 0 SHEILA HOLLO SECRETARY/DIRECTOR 0.50 0.00 X X 0 0 0 PAMELA LIEBMAN VICE PRESIDENT/DIRECTOR (AS OF 1/23) 0.50 0.00 X X 0 0 0 1442486 2944961 196694 5 1 1 0 CAPTRUST 4208 SIX FORKS ROAD SUITE 1700 RALIEGH NC 27609 INVESTMENT ADVISORY SERVICES 124744 1 75489192 1159294 75489192 7536367 7536367 27727027 27334023 393004 393004 393004 83418563 0 0 7929371 16507137 16507137 38000 38000 990782 308944 681838 1175718 668289 507429 238660 126978 56060 55622 32633 32633 106887 106887 123744 44857 61872 17015 224398 96963 94349 33086 207296 75145 103648 28503 9482 3437 4741 1304 157648 157648 BAD DEBT EXPENSE 7599783 7599783 CONSULTING AGREEMENTS 261806 94905 130903 35998 BANK CHARGES 133090 48245 66545 18300 BROCHURES 23752 8610 11876 3266 452471 73627 356434 22410 28283287 25694920 1865434 722933 5794447 7172857 139840119 166464929 30920903 28153632 645 0 215702732 284932464 31206 22606 5381706 5891459 397671758 492637947 175950 301300 2000000 0 345503 356157 2521453 657457 X 192476000 250575000 202674305 241405490 395150305 491980490 397671758 492637947 X 55135276 26308695 15386214 X 0 1 X 1 0 X 26157918 21569752 44632280 44713516 75489192 212562658 26157918 21569752 44632280 44713516 75489192 212562658 37118825 175443833 4650264 3582618 6278597 5839817 7536367 27887663 279700 279700 240730021 0.72880 0.77270 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 140668000 76722000 704000 15386000 5663000 197045000 120740000 30216000 476000 9022000 1742000 140668000 111845000 19552000 445000 10503000 599000 120740000 107821000 13410000 425000 9162000 649000 111845000 94395000 19487000 356000 5472000 945000 107821000 0.00000 0.03600 0.96400 0 0 0 DUE TO MOUNT SINAI MEDICAL CENTER 356157 356157 X PART V, LINE 4: THE FOUNDATION'S ENDOWMENT CONSISTS OF APPROXIMATELY 51 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. THE ENDOWMENT CONSISTS OF DONOR-RESTRICTED FUNDS THAT HAVE BEEN LIMITED BY DONORS TO A SPECIFIC TIME PERIOD OR PURPOSE. AS REQUIRED BY GAAP, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. THE ENDOWMENT NET ASSET COMPOSITION BY FUND TYPE AS OF DECEMBER 31, 2023, IS COMPOSED OF THE FOLLOWING: TEMPORARILY RESTRICTED PERMANENTLY RESTRICTED ALZHEIMER'S PROGRAM 3,365,000 0 MSMC 50 YEARS 68,793,000 0 (PATIENT TOWER) HEMATOLOGY & ONCOLOGY 2,307,000 0 RAD CENTER FOR CANCER GENETICS 10,134,000 0 LABOR & DELIVERY 10,845,000 0 SURGICAL ONCOLOGY 2,221,000 0 BEHAVIORAL HEALTH 5,016,000 0 CANCER CENTER FACILITY 59,613,000 0 WITKOFF CENTER 10,016,000 0 AMBULATORY 8,003,000 0 OTHER PROGRAMS 9,641,000 7,091,000 _____________ _____________ TOTAL FUNDS 189,954,000 7,091,000 PART X, LINE 2: THE FOOTNOTE TO THE AUDITED FINANCIAL STATEMENTS FOR MOUNT SINAI MEDICAL CENTER OF FLORIDA, INC. AND SUBSIDIARIES REGARDING ASC 740 READS AS FOLLOWS: THE MEDICAL CENTER IS A NOT-FOR-PROFIT CORPORATION AND HAS BEEN RECOGNIZED AS TAX EXEMPT AS AN ORGANIZATION DESCRIBED IN 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 740-15-2, INCOME TAXES, AND HAS DETERMINED THAT AS OF DECEMBER 31, 2023 AND 2022, 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 2018 THROUGH 2023 ARE SUBJECT TO EXAMINATION BY THE FEDERAL AND STATE TAXING AUTHORITIES. THERE ARE NO INCOME TAX EXAMINATIONS CURRENTLY IN PROCESS. 1 MOUNT SINAI MEDICAL CENTER 4300 ALTON ROAD MIAMI BEACH FL 33140 590624424 501(C)(3) 16507137 0 FAIR MARKET VALUE N/A GENERAL SUPPORT 1 0 SCHOLARSHIPS FOR STUDENTS ATTENDING SCHOOL 19 38000 FAIR MARKET VALUE N/A PART I, LINE 2: MOUNT SINAI MEDICAL CENTER FOUNDATION TRANSFERS A PORTION OF THE CONTRIBUTIONS RECEIVED FROM THE YOUNG PRESIDENTS CLUB TO MSMC OF FLORIDA FOR PROGRAM SERVICES AND TO SPECIFIC INDIVIDUALS IN THE FORM OF SCHOLARSHIPS TO PROVIDE FINANCIAL ASSISTANCE TO THE CHILDREN OF MSMC EMPLOYEES. X 1 1 1 0 0 0 0 0 0 0 0 GINO SANTORIO DIRECTOR, PRESIDENT/CEO MSMC 0 1498386 0 350000 0 11891 0 29850 0 44294 0 1934421 0 0 STEVEN D SONENREICH FORMER DIRECTOR 0 900000 0 0 0 184684 0 0 0 0 0 1084684 0 0 MICHAEL MILBERG CHIEF DEV. OFF./DIRECTOR (END 3/23) 89917 0 124000 0 311645 0 13125 0 781 0 539468 0 0 0 MAX SKLAR VICE PRESIDENT 364992 0 70000 0 270 0 0 0 16052 0 451314 0 0 0 MICHAEL MOWATT AVP OF DEVELOPMENT 155780 0 17104 0 1717 0 17240 0 16943 0 208784 0 0 0 DENA WILLMAN AVP OF DEVELOPMENT 153636 0 17104 0 218 0 15362 0 22123 0 208443 0 0 0 MIA OLSEN GLASSBERG AVP OF DEVELOPMENT 135937 0 0 0 166 0 0 0 20924 0 157027 0 0 0 PART I, LINE 1A GROSS-UP PAYMENTS FOR DISABILITY INSURANCE POLICIES AND LIFE INSURANCE POLICIES WERE PROVIDED TO ONE OFFICER. SUCH AMOUNTS WERE TREATED AS TAXABLE COMPENSATION AND INCLUDED IN THE W-2 WAGES FOR SUCH EMPLOYEES. PART I, LINE 1B THE DECISION-MAKING PROCESS FOR THE GROSS-UP PAYMENTS MADE PURSUANT TO THE LIFE INSURANCE AND DISABILITY POLICIES FOLLOWED THE SAME COMPENSATION PROCESS OUTLINED IN THE DISCLOSURE FOR FORM 990, PART VI, LINE 15, INCLUDING APPROVAL BY THE COMPENSATION COMMITTEE AND REVIEW BY AN INDEPENDENT CONSULTANT. APPROVAL FOR THE GROSS-UP PAYMENTS IS ALSO OUTLINED IN THE PLAN DOCUMENTS. PART I, LINE 3 THE ORGANIZATION'S PRESIDENT/CEO IS 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. PART I, LINE 4A MICHAEL MILBERG, CHIEF DEVELOPMENT OFFICER, RECEIVED A SEVERANCE PAYMENT DURING 2023 IN THE AMOUNT OF $311,264. X 7 1159294 FAIR MARKET VALUE 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 TRUSTEES MICHAEL GOLDBERG AND BARTON GOLDBERG HAVE A FAMILY RELATIONSHIP. TRUSTEES JORDAN LEVY AND STEPHEN TEMES HAVE A BUSINESS RELATIONSHIP. 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 MEDICAL CENTER FOUNDATION RELIES ON THE PROCESS FOR DETERMINING COMPENSATION PERFORMED AT MSMC. 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: EQUITY TRANSFER WITH THE MEDICAL CENTER 15,386,214. MOUNT SINAI MEDICAL CENTER OF FLORIDA 4300 ALTON ROAD MIAMI BEACH FL 33140 590624424 HOSPITAL FL 501(C)(3) LINE 3 N/A 0 MSMC 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 MSMC OFFICE BUILDING II 4300 ALTON ROAD MIAMI BEACH FL 33140 205737392 TITLE LEASE FL 501(C)(2) N/A MT SINAI MEDICAL CENTER OF FLORIDA INC 0 MOUNT SINAI ELDERCARE INC 4300 ALTON ROAD MIAMI BEACH FL 33140 861888783 ELDERLY PATIENT CARE FL 501(C)(3) LINE 10 MT SINAI MEDICAL CENTER OF FLORIDA INC 0 MT SINAI MED CTR OF FL GUARANTEE CORP PO BOX 1051 KY1-1102 CJ INSURANCE CJ N/A C 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1