2025-11-12T21:59:18-06:00 2024-12-31 861065772 DELOITTE TAX LLP 7900 TYSONS ONE PLACE SUITE 800 MCLEAN VA 22102 990 2024-01-01 861888783 MOUNT SINAI ELDERCARE INC MOUN 9042344338 4300 ALTON ROAD MIAMI BEACH FL 33140 ALEXANDER MENDEZ EXECUTIVE VP/CFO 3056742032 2025-11-12 1 1 RACHEL KAUFMAN P01485017 7032511000 2024 2025-03-06 01:10:19Z GINO SANTORIO 4300 ALTON ROAD MIAMI BEACH FL 33140 6180901 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 434609 6129214 0 51687 0 0 434609 6180901 0 0 0 0 1274589 1928851 0 0 0 1206511 5924524 2481100 7853375 -2046491 -1672474 4189160 4460218 51200 1436187 4137960 3024031 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 5015990 0 6129214 SEPTEMBER 1, 2024 MARKED MOUNT SINAI ELDERCARE, INC.'S FIRST YEAR AS AN OPERATIONAL PROGRAM FOR ALL-INCLUSIVE CARE FOR THE ELDERLY ORGANIZATION. MOUNT SINAI ELDERCARE'S ENROLLMENT AND CARE TEAMS WERE VERY BUSY IN OUR FIRST YEAR. BY DECEMBER, MOUNT SINAI ELDERCARE, INC. HAD ENROLLED 85 PARTICIPANTS AND HAD A TOTAL OF 14 DISENROLLMENTS. OF THE DISENROLLMENTS 5 WERE DUE TO DEATH OR 31%. AT YEAR END THE TOTAL CENSUS WAS 89.THE ENROLLMENT GOAL REMAINS FIVE NET POSITIVE ENROLLMENTS PER MONTH AND OUR ACTUAL ENROLLMENT PER MONTH WAS SEVEN MEMBERS FOR 2024. LOOKING A LITTLE DEEPER INTO THE ENROLLMENT NUMBERS, 22% WERE MEDICAID ONLY FUNDED WHILE 67% WERE DUAL OR MEDICARE AND MEDICAID FUNDED ENROLLEES. MOUNT SINAI ELDERCARE, INC. HAS MORE MEDICAID ONLY FUNDED ENROLLED MEMBERS THAN THE NATIONAL AVERAGE OF 19.1%. DUE TO ELECTRONIC ENROLLMENT REPORTING DELAYS BETWEEN THE MEDICARE AND STATE OF FLORIDA MEDICAID SYSTEM, MOUNT SINAI ELDERCARE, INC. HAD TO WRITE OFF $65,000 OF UNFUNDED MEDICAID CAPITATION PAYMENTS.DAILY DAYCARE CENTER ATTENDANCE GREW FROM NINE TO A HIGH OF THIRTY BY THE END OF THE YEAR. THE INCREASE IN DAYCARE CENTER ATTENDANCE ALSO GREATLY INCREASED THE NUMBER OF MEAL AND TRIPS MADE BY THE TRANSPORTATION TEAM. FOR EXAMPLE, IN JANUARY OUR DEDICATED DRIVERS PUT IN A TOTAL OF 310 HOURS TRANSPORTING OUR MEMBERS TO AND FROM THE ELDERCARE CENTER FOR VISITS WITH PRIMARY CARE PROVIDERS, TO COMPLETE PHYSICAL OR OCCUPATIONAL THERAPY SESSIONS, ATTEND THE DAY CARE CENTER AND/OR TRANSPORTATION TO AND FROM MEDICAL SPECIALISTS, HOSPITALS AND IMAGING APPOINTMENTS. BY THE END OF THE YEAR THESE HOURS INCREASED TO 575 FOR THE MONTH OF DECEMBER. THE TRANSPORTATION FLEET GREW FROM ONE TO THREE FULL TIME DRIVERS PLUS THE USE OF FIVE ON DEMAND DRIVERS.MOUNT SINAI ELDERCARE, INC. HAD A SUCCESSFUL 2024 ENDING THE YEAR AHEAD OF ENROLLMENT GOALS. AS WE LOOK TO 2025 THE ORGANIZATION PLANS TO INCREASE THE NUMBER OF OUTREACH LIAISON IN THE FIELD TO HELP FURTHER GROW ENROLLMENT AND ADD ADDITIONAL STAFF TO SUPPORT THE PROJECTED GROWTH. 5015990 1 0 0 1 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 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 3 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 1 1 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 2457810 77682 ALEXANDER A MENDEZ EXECUTIVE VP/CFO 0.50 60.50 X X 0 1642889 105452 ANGEL PALLIN SENIOR VP/COO 3.00 57.00 X X 0 1005648 107386 NEISEN KASDIN COMMUNITY REPRESENTATIVE 0.00 0.00 X 0 0 0 LYNDA BARCELO VP MGN CARE & POP HEALTH 15.00 45.00 X X 0 312526 78164 CLIFFORD MEDINA CHIEF, DIV. OF GEN. MED. (BEG 01/24) 3.00 57.00 X 0 734115 54305 STEVEN SONENREICH FORMER PRESIDENT 0.00 0.00 X 0 187500 0 0 6340488 422989 0 1 1 0 RIDE2 MD PO BOX 527446 MIAMI FL 33152 PATIENT TRANSPORTATION SERVICES 258425 TABULARASA HEALTHCARE 228 STRAWBRIDGE DRIVE MOORESTOWN NJ 08057 PHARM. CLINICAL OVERSIGHT & CONSULTING 168668 RESIDENTIAL PLAZA AT BLUE LAGOON INC 5617 NW 7TH STREET MIAMI FL 33126 ASSISTED LIVING FACILITY SERVICES 161650 3 PATIENT SERVICE REV. 621400 6129214 6129214 6129214 51687 51687 6180901 6129214 0 51687 1651738 742382 909356 277113 124819 152294 20090 20090 60000 60000 20377 20377 54803 54803 12996 12996 96888 96888 5510 5510 500223 287387 212836 38835 38835 PATIENT CARE SERVICES 3465269 3357317 107952 CORPORATE MGMT. FEE 1116229 1116229 PATIENT TRANSPORTATION 504085 504085 SUPPLIES 29219 29219 7853375 5015990 2837385 0 339586 945912 121854 203234 3513083 251795 3727720 3261288 0 49784 4189160 4460218 41740 435933 9460 1000254 51200 1436187 X 4137960 3024031 4137960 3024031 4189160 4460218 X -1672474 558545 X 0 1 X 1 0 X 434609 6129214 6563823 434609 6129214 6563823 0 344610 1760708 2105318 344610 1760708 2105318 4458505 51687 51687 51687 51687 434609 6180901 6615510 X 0 0 0 0 0 0 1 60000 0 0 60000 0 PART II-B, LINE 1: MOUNT SINAI ELDERCARE, INC. ENGAGES LOBBYISTS TO HELP EDUCATE STATE LEADERS ON THE PACE PROGRAM INCLUDING ITS SERVICES PROVIDED TO FRAIL SENIORS AND THE ORGANIZATION'S GROWTH PROJECTIONS. THE LOBBYISTS WERE SUCCESSFUL IN OBTAINING ADDITIONAL FUNDING TO ENSURE OUR ENROLLMENT COULD CONTINUE AND WE DID NOT HAVE A WAITLIST. 2923828 182739 2741089 589255 69056 520199 3261288 OTHER CURRENT LIABILITIES 38179 RESERVE FOR SELF INSURANCE 962075 1000254 X PART X, LINE 2: THE FOOTNOTE TO THE AUDITED FINANCIAL STATEMENTS FOR MOUNT SINAI MEDICAL CENTRE 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 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 740-15-2, INCOME TAXES, AND HAS DETERMINED THAT AS OF DECEMBER 31, 2024 AND 2023, 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 2024 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 1549819 0 896100 0 11891 0 30350 0 47332 0 2535492 0 0 ALEXANDER A MENDEZ EXECUTIVE VP/CFO 0 860741 0 367198 0 414950 0 60850 0 44602 0 1748341 0 0 ANGEL PALLIN SENIOR VP/COO 0 737628 0 177217 0 90803 0 60850 0 46536 0 1113034 0 0 CLIFFORD MEDINA CHIEF, DIV. OF GEN. MED. (BEG 01/24) 0 531901 0 200000 0 2214 0 37850 0 16455 0 788420 0 0 LYNDA BARCELO VP MGN CARE & POP HEALTH 0 233856 0 78400 0 270 0 53350 0 24814 0 390690 0 0 STEVEN SONENREICH FORMER PRESIDENT 0 187500 0 0 0 0 0 0 0 0 0 187500 0 0 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. 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 558,545. 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 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