2025-11-14T23:19:52-05:00 2024-12-31 ERNST & YOUNG US LLP 1 MANHATTAN WEST NEW YORK NY 10001 990 2024-01-01 133246249 HSS Properties Corporation % TODD GORLEWSKI HSSP 2126061000 535 EAST 70TH STREET NEW YORK NY 10021 Todd Gorlewski SVP & CAO 2127745096 2025-11-10 true YUCEN ZHONG P01593150 2127736170 2025-11-14 2024 2025-03-06 01:10:19Z Bryan T Kelly 535 EAST 70TH STREET NEW YORK NY 10021 120938657 false X N/A X 1984 NY ACQUIRE, HOLD AND OPERATE CERTAIN REAL ESTATE TO BE USED BY ITS TAX-EXEMPT AFFILIATED ENTITY, THE HOSPITAL FOR SPECIAL SURGERY. 49 45 6 48 0 0 0 0 71173377 73699593 2949199 5826637 15431 147237 74138007 79673467 0 0 0 0 1158167 1239051 0 0 0 66903048 70008435 68061215 71247486 6076792 8425981 596935503 588142766 484475395 459964312 112460108 128178454 ACQUIRE, HOLD AND OPERATE CERTAIN REAL ESTATE TO BE USED BY ITS TAX-EXEMPT AFFILIATED ENTITY, THE HOSPITAL FOR SPECIAL SURGERY. false false 70360426 0 73846830 ACQUIRE, HOLD AND OPERATE CERTAIN REAL ESTATE TO BE USED BY ITS TAX-EXEMPT AFFILIATED ENTITY, THE HOSPITAL FOR SPECIAL SURGERY. HSS PROPERTIES CORPORATION MAY PROVIDE FUNDS FROM ITS OPERATIONS TO THE HOSPITAL FOR SPECIAL SURGERY AND OTHER CHARITABLE HEALTH RELATED ORGANIZATIONS. 70360426 true false false false false false false false false false true false false true true false false false false false false false false false false false false false false true false false false false false false false false false false false false false true true false false false true 0 0 6 true false false false false false false false false false false false false X 49 45 false false false false true true false true true false false true true true true true true true true true true NY X TODD GORLEWSKI 2127745096 535 EAST 70TH STREET New York NY 10021 X Bryan T Kelly President & CEO 3.0 57.0 X X 261482 4968140 99967 Louis A Shapiro-THRU 2023 Former President & CEO 0.0 0.0 X 0 3428637 0 Stacey L Malakoff EVP & Chief Financial Officer 7.2 52.8 X 344651 2527443 92723 Irene Koch EVP & Chief Legal Officer 6.0 54.0 X 137291 1235610 46496 Stavros Memtsoudis-Join 2024 Member/Anesthesiologist 0.2 28.45 X 0 590658 82270 Andy Miller Member/Attending Physician 0.2 49.8 X 0 555487 35230 Andrew A Sama Member/Attending Physician 0.2 21.4 X 0 163533 85313 Patty Baker Member-Joined BOT 2024 0.04 0.7 X 0 0 0 Daniel C Benton Member 0.13 2.38 X 0 0 0 Herbert Black Member 0.06 1.16 X 0 0 0 Michael C Brooks Member 0.09 1.77 X 0 0 0 Kathryn Chenault Member 0.07 1.34 X 0 0 0 Charles Coleman III Member 0.08 1.47 X 0 0 0 Leslie Cornfeld Member 0.1 1.86 X 0 0 0 Cynthia Foster Curry Member 0.09 1.66 X 0 0 0 Anthony de Nicola Member 0.09 1.67 X 0 0 0 James G Dinan Member 0.1 1.83 X 0 0 0 Anne Ehrenkranz Member 0.1 1.81 X 0 0 0 Michael Esposito Vice Chair 0.2 3.76 X X 0 0 0 Wayne AI Frederick Member 0.08 1.44 X 0 0 0 Marina Kellen French Member 0.09 1.72 X 0 0 0 Giammaria Giuliani Member 0.11 2.04 X 0 0 0 Robert Goldstein Member 0.07 1.34 X 0 0 0 Warren B Kanders Member 0.08 1.53 X 0 0 0 Scott Kapnick Member 0.1 1.87 X 0 0 0 Monica Keany Vice Chair 0.34 6.41 X X 0 0 0 Sacha Lainovic Member 0.16 2.98 X 0 0 0 Richard Landgarten Member-Join BOT 2024 0.01 0.18 X 0 0 0 Laurie Hodges Lapeyre Vice Chair 0.33 6.33 X X 0 0 0 Pablo Legorreta Member 0.05 0.98 X 0 0 0 Lara R Lerner Member 0.14 2.56 X 0 0 0 Kathy Leventhal Member 0.09 1.77 X 0 0 0 Thomas H Lister Co-Chair 1.06 20.12 X X 0 0 0 Patrice Louvet Member 0.08 1.6 X 0 0 0 Alan S MacDonald Member 0.02 0.37 X 0 0 0 Celene Menschel Member 0.09 1.77 X 0 0 0 Sarah E Nash Member 0.06 1.18 X 0 0 0 Mary Kathryn Navab Member 0.11 2.13 X 0 0 0 Terence M O'Toole Vice Chair 0.25 4.71 X X 0 0 0 Matthew H Peltz Member 0.05 1.03 X 0 0 0 Steven Rattner Member 0.08 1.57 X 0 0 0 Scott Rechler Member 0.13 2.23 X 0 0 0 Edward Skyler Member 0.07 1.39 X 0 0 0 Nicholas Somers Member-Join BOT 2024 0.02 0.42 X 0 0 0 Jonathan Sobel Member 0.11 2.0 X 0 0 0 Deirdre Stanley Member 0.08 1.54 X 0 0 0 Robert K Steel Co-Chair 0.78 14.89 X X 0 0 0 Jonathan Tisch Member 0.09 1.65 X 0 0 0 Frances Townsend Member 0.06 1.06 X 0 0 0 Robin Vince Member 0.06 1.16 X 0 0 0 Jeffrey Wilpon Member 0.11 2.15 X 0 0 0 Ellen M Wright Member 0.11 2.06 X 0 0 0 743424 13469508 441999 3 true true false ROLST CONSTRUCTION CO 75-22 METROPOLITAN AVENUE MIDDLE VILLAGE NY 11379 CONSTRUCTION 1775330 THE BELAIRE CONDOMINIUM 524 E 72 ST NEW YORK NY 10021 ENGINEERING FEES 671029 NIKO K CONSTRUCTION C 45-67 196TH PL FLUSHING NY 11358 CONSTRUCTION 380000 ISTATS MAINTENANCE CO 11 EDWARDS LANE GLEN COVE NY 11542 CONSTRUCTION 270888 RICHMOND ELEVATOR CO INC 17 RECTOR ST STATEN ISLAND NY 10310 CONSTRUCTION/REPAIR 254004 7 0 OFFICE/STAFF APT RENTAL 531110 68680447 68680447 OFFICE/STAFF APT PARKING 812930 4085517 4085517 HOTEL RENTAL 531110 933629 933629 73699593 5459485 5459485 0 0 0 0 0 41632342 41265190 367152 367152 367152 0 0 0 0 0 0 0 0 0 LAUNDRY INCOME 812300 19329 19329 OTHER INCOME 900099 127908 127908 147237 79673467 73846830 0 5826637 0 0 0 0 764198 764198 0 309894 309894 0 76131 76131 88828 26134 62694 0 285 285 53865 53865 0 0 0 2712656 2712656 0 50176 50176 0 0 56056930 56056930 4518 4518 0 0 607951 607951 0 3359861 3359861 471 471 INTERCOMP PURCHASED SERVICES 3138893 3138893 LICENSES AND TAXES 2302364 2300864 1500 REPAIR AND MAINTENANCE 1560150 1560150 RENT EXPENSES 153124 153124 7191 7191 71247486 70360426 887060 0 2999470 4683656 0 0 0 0 2262716 2208632 0 0 0 0 0 0 0 0 4777044 4224760 107401204 72935096 35562592 34466108 76061079 92221709 29483463 26703083 0 0 0 0 445789139 423634818 596935503 588142766 3918382 2983177 0 0 0 0 0 0 0 0 0 0 0 0 0 0 480557013 456981135 484475395 459964312 X 112460108 128178454 0 0 112460108 128178454 596935503 588142766 X 8425981 6570706 721659 X false true X true false X X 1 HOSPITAL FOR SPECIAL SURGERY 131624135 3 true 0 0 1 0 0 true false false false false false false false false false false false false false false true Part I, Line 12g (A), column v, vi HSS Properties Corporation (Properties), a controlled subsidiary of The Hospital for Special Surgery Fund, Inc, is a not-for-profit corporation organized under the Not-for-Profit Corporation Law of the State of New York for the purpose of managing and operating real estate for the New York Society for the Relief of the Ruptured and Crippled, Maintaining the Hospital for Special Surgery (the Hospital). 8611910 8611910 95679718 70275622 25404096 2902873 2659474 243399 206703 206703 34466108 TENANTS SECURITY DEPOSIT 59235 TENANT IMPROVEMENT RECEIVABLE 12134393 LEASEHOLD INCENTIVE RECEIVABLE 19903440 INVESTMENT IN JOINT VENTURE 3812562 DEFERRED RENT RECEIVABLE 36655083 OPERATING LEASE ASSETS 351070105 423634818 0 TENANTS SECURITY DEPOSIT 59235 DUE TO AFFILIATES - NET 13628735 TENANT IMPROVEMENT PAYABLE 12054053 OPERATING LEASE LIABILITIES 431239112 456981135 X X X X true false false false true false true false false Stavros Memtsoudis-Join 2024 Member/Anesthesiologist 0 561633 0 20000 0 9025 0 31050 0 51220 0 672928 0 0 Andy Miller Member/Attending Physician 0 485170 0 0 0 70317 0 31050 0 4180 0 590717 0 0 Andrew A Sama Member/Attending Physician 0 163144 0 0 0 389 0 17099 0 68214 0 248846 0 0 Bryan T Kelly President & CEO 135160 2568034 122296 2323629 4026 76477 1553 29498 3445 65471 266480 5063109 0 0 Louis A Shapiro-THRU 2023 Former President & CEO 0 0 0 1260000 0 2168637 0 0 0 0 0 3428637 0 0 Stacey L Malakoff EVP & Chief Financial Officer 189997 1393313 140925 1033446 13729 100684 3726 27324 7401 54272 355778 2609039 0 0 Irene Koch EVP & Chief Legal Officer 85887 772979 47561 428045 3843 34586 2587 23288 2062 18559 141940 1277457 0 0 Schedule J, Part I, Line 4A Louis A. Shapiro, Former President & Chief Executive Officer, received severance pay of $2,100,000, which are included in Schedule J, Part II, Column (B)(III). Severance payments began January 2024 and ended December 2024. SCHEDULE J, PART I, LINE 5B Certain Employed Physicians listed on Part VII, Section A, Line 1A receive compensation in part, based on professional service generated from services they personally performed in their individual practices. In 2024, no Physician was paid compensation contingent upon the organization's overall revenue or net earnings. SCHEDULE J, PART I, LINE 6B Performance based incentive awards are paid to officers and key employees based on a number of important quality, satisfaction, efficiency, and financial measures, of which achieving budget is a factor. FORM 990, PART VI, SECTION A - LINE 6 & 7A - "MEMBERSHIP" HSS PROPERTIES CORPORATION IS A MEMBERSHIP CORPORATION WITH THE HOSPITAL FOR SPECIAL SURGERY FUND, INC, AS ITS SOLE MEMBER. THE HOSPITAL FOR SPECIAL SURGERY FUND, INC., AS THE MEMBER OF HSS PROPERTIES CORPORATION, ELECTS THE BOARD OF TRUSTEES OF HSS PROPERTIES CORPORATION. FORM 990, PART VI, SECTION B - LINE 11B, "REVIEW PROCESS" The Form 990 is prepared by the management and reviewed by an outside independent accounting firm. PRIOR TO SUBMITTING THE FORM 990 TO THE INTERNAL REVENUE SERVICE (IRS), THERE IS AN ESTABLISHED PROCESS FOR REVIEW OF THE DOCUMENT IN ITS ENTIRETY BY THE GOVERNING BODY WHOSE EVALUATIONS ARE MADE IN THE BEST INTEREST OF HSS PROPERTIES CORPORATION. THE FORM 990 IS FIRST REVIEWED WITH THE EXECUTIVE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. THE REVIEWED FORM 990 IS THEN SUBMITTED TO THE FULL BOARD OF TRUSTEES. THE TRUSTEES ARE PROVIDED A COPY OF THE FORM 990 PRIOR TO SUBMISSION OF THE FORM. IN ADDITION, SIGNIFICANT AREAS OF FORM 990 ARE DISCUSSED AT A BOARD OF TRUSTEES MEETING. FORM 990, PART VI, SECTION B - LINE 12C, "CONFLICT OF INTEREST POLICY" ON AN ANNUAL BASIS, INTEREST DISCLOSURE STATEMENTS ARE SENT TO ALL BOARD MEMBERS, OFFICERS, MEDICAL STAFF, MANAGEMENT, FELLOWS, RESIDENTS, RESEARCH PROFESSIONAL STAFF, IRB MEMBERS, AND OTHER DESIGNATED GROUPS. OUR CONFLICT OF INTEREST AND COMMITMENT POLICY ALSO REQUIRES THAT ANY COVERED PERSON, INCLUDING MEMBERS OF THE HSS MEDICAL STAFF MUST PROVIDE PRIOR NOTICE TO COMPLIANCE BEFORE BEGINNING ANY ACTIVITY OR SIGNIFICANTLY MODIFYING THE TERMS OF ANY EXISTING OUTSIDE PROFESSIONAL ACTIVITY, WHERE THE COVERED PERSON HAS A FINANCIAL INTEREST VALUED IN EXCESS OF $5,000 OR EQUITY INTERESTS OF INDETERMINATE VALUE. DISCLOSURES MAY BE MADE THROUGH HSS' ONLINE REPORTING PLATFORM, MYDISCLOSURES OR DIRECTLY TO COMPLIANCE. THE REPORTED INTERESTS ARE REVIEWED BY THE EXECUTIVE VICE PRESIDENT FOR LEGAL AFFAIRS, THE CHIEF EXECUTIVE OFFICER, AND THE AUDIT AND CORPORATE COMPLIANCE COMMITTEE OF THE BOARD OF TRUSTEES. SUMMARY INFORMATION IS PROVIDED TO SERVICE CHIEFS, AS REQUESTED, SO THAT THEY ARE AWARE OF THE FINANCIAL INTERESTS OF THE MEDICAL STAFF WITHIN THEIR SPECIALTY. IN ADDITION TO SENDING DISCLOSURE STATEMENTS DIRECTLY TO THE GROUP NOTED ABOVE, INDUSTRY WEBSITES ARE MONITORED FOR DISCLOSURES RELATED TO EMPLOYEES OF HSS properties. THIS INFORMATION IS ENTERED INTO THE DATABASE, AS WELL. HSS properties HAS A CONFLICT OF INTEREST COMMITTEE THAT MEETS AT LEAST THREE TIMES A YEAR, OR AS NECESSARY AND IS CHARGED WITH ADJUDICATING COMPLEX CONFLICTS OF INTEREST AND COMMITMENT, DEVELOPING AND ADOPTING REASONABLE AND APPROPRIATE CONFLICT MANAGEMENT PLANS AND SERVING AS A POLICY ADVISORY TO THE HSS BOARD OF TRUSTEES AND HSS EXECUTIVE LEADERSHIP. FORM 990, PART VI, SECT B - LINE 15A & 15B, "PROCESS FOR DETERMINING COMP" HSS PROPERTIES CORPORATION IS COMMITTED TO ENSURING THAT ITS EXECUTIVE COMPENSATION PROGRAM ADHERES TO THE HIGHEST STANDARDS OF REGULATORY COMPLIANCE AND BEST CORPORATE GOVERNANCE. THE HSS PROPERTIES CORPORATION BOARD HAS CHARGED THE COMPENSATION COMMITTEE (WHICH IS COMPOSED Of INDEPENDENT BOARD MEMBERS WITH NO CONFLICTS OF INTEREST IN REGARD TO EXECUTIVE COMPENSATION) WITH MAKING ALL DECISIONS RELATED TO COMPENSATION FOR OFFICERS AND KEY EMPLOYEES. THE COMMITTEE RETAINS AN INDEPENDENT COMPENSATION CONSULTANT TO ASSIST IT IN THIS PROCESS. COMPENSATION LEVELS ARE ESTABLISHED CONSIDERING DATA FOR FUNCTIONALLY COMPARABLE ROLES IN COMPARABLE ORGANIZATIONS, AN ASSESSMENT OF PERFORMANCE, AND OTHER BUSINESS JUDGMENT FACTORS, CONSISTENT WITH HSS PROPERTIES CORPORATION'S EXECUTIVE COMPENSATION PHILOSOPHY. ALL COMPENSATION DECISIONS ARE CAREFULLY DOCUMENTED IN MINUTES ON A REGULAR AND TIMELY BASIS. THE COMMITTEE'S DECISIONS ARE MADE IN THE BEST INTERESTS OF HSS PROPERTIES CORPORATION, AND ARE INTENDED TO ENSURE THE RECRUITMENT AND RETENTION OF KEY EXECUTIVE TALENT, CONSISTENT WITH THE MARKET PRACTICES OF OTHER NOT-FOR-PROFIT HEALTH CARE ORGANIZATIONS OF COMPARABLE MISSION AND COMPLEXITY, CONSIDERING BOTH LOCAL AND NATIONAL MARKET CHALLENGES IN SUCH REGARD. ON AN ANNUAL BASIS (INCLUDING 2024), THE COMMITTEE PROVIDES THE FULL BOARD WITH AN OVERVIEW OF ITS DETERMINATIONS AND PROCESS. HSS PROPERTIES CORPORATION ESTABLISHED THIS PROCESS IN AN EFFORT TO COMPLY WITH THE INTERMEDIATE SANCTIONS GUIDELINES FOR QUALIFYING FOR THE REBUTTABLE PRESUMPTION OF REASONABLENESS, AS WELL AS SUPPORT BEST CORPORATE GOVERNANCE PRACTICES IN ENSURING THE TRANSPARENCY OF THE EXECUTIVE COMPENSATION DECISION-MAKING PROCESS WITH THE BOARD. FORM 990, PART VI, SECTION B - LINE 19, "DISCLOSURE GOVERNING DOCUMENTS" HSS PROPERTIES CORPORATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST FROM THE OFFICE OF LEGAL AFFAIRS. FORM 990, PART XI, LINE 9, "OTHER CHANGES IN NET ASSETS OR FUND BALANCES" NON-OPERATING GAIN FROM INVESTMENT IN 300 PBL, LLC OF $721,659. NY SOC REL RUPT CRIPLD MAINTAING HSS 535 EAST 70TH STREET NEW YORK NY 10021 131624135 HEALTH CARE NY 501 (C)(3) 3 NA false HOSPITAL FOR SPECIAL SURGERY FUND inc 535 EAST 70TH STREET NEW YORK NY 10021 136714749 FUNDRAISING NY 501 (C)(3) 7 NA false HSS HORIZONS INC 535 EAST 70TH STREET NEW YORK NY 10021 134152131 RESEARCH SUPP NY 501 (C)(3) 12 TYPE I HSS FUND INC true TJA ORTHOPEDIC SURGERY PC 535 EAST 70TH STREET NEW YORK NY 10021 815178969 HEALTH CARE NY 501 (C)(3) 10 HSS false HSS ASC OF MANHATTAN LLC 1233 2ND AVE NEW YORK NY 10065 471353602 HEALTH CARE NY NA N/A HSS WESTSIDE ASC LLC 600 WEST 58TH STREET NEW YORK NY 10019 814351390 HEALTH CARE NY NA N/A HSS-FL PHYSICIANS LLC 535 EAST 70TH STREET NEW YORK NY 10021 824502169 HEALTH CARE FL NA N/A HSS Long Island ASC LLC 90 Merrick Ave East Meadow New York NY 11554 884133340 HEALTH CARE NY NA N/A MEDICAL INDEMNITY ASSURANCE COMPANY LTD 535 EAST 70TH STREET NEW YORK NY 10021 981050215 SELF-INDEMNITY CJ NA C CORP true HSS VENTURES 535 EAST 70TH STREET NEW YORK NY 10021 061624300 HLTH CARE SERVICE NY NA C CORP true HSS Physicians PA 535 East 70th Street New York NY 10021 932717310 Medical Billing NJ NA c corp false false false false false true false false false false true false false true false true true true true false HOSPITAL FOR SPECIAL SURGERY J 59605302 ALLOC COST HOSPITAL FOR SPECIAL SURGERY P 59284371 ALLOC COST HOSPITAL FOR SPECIAL SURGERY M 2600491 ALLOC COST HOSPITAL FOR SPECIAL SURGERY E 15081296 ALLOC COST HOSPITAL FOR SPECIAL SURGERY R 607951 ALLOC COST HSS ASC OF MANHATTAN LLC J 1580312 ALLOC COST HSS ASC OF MANHATTAN LLC Q 588482 ALLOC COST HSS WEST SIDE ASC LLC J 1535398 ALLOC COST HSS WEST SIDE ASC LLC Q 299349 ALLOC COST SCHEDULE R, PART V, LINE 1o The amounts for sharing of paid employees with related organization(s) are included in line m, performance of services or membership or fundraising solicitations by related organization.