Montefiore Health System Inc

EIN: 201615393 501(c)(3) Health Care

TARRYTOWN, NY

Total Revenue
$393,445,493
Total Expenses
$444,563,348
Total Assets
$886,300,716
Net Assets
$635,947,036
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Organization Details

Formation Year
2004
Legal Domicile
NY
Phone
9143498455
Tax Period
2023-01-01 to 2023-12-31

Montefiore Health System Inc, founded in 2004, is a major nonprofit in the Health Care sector that reported $393.4M in total revenue in fiscal year 2023. Expenses of $444.6M exceeded revenue, resulting in a 13% operating deficit.

Mission

TO HEAL, TO TEACH, TO DISCOVER AND TO ADVANCE THE HEALTH OF THE COMMUNITIES WE SERVE. MONTEFIORE BUILDS UPON OUR RICH HISTORY OF MEDICAL INNOVATION AND COMMUNITY SERVICE TO IMPROVE THE LIVES OF THOSE IN OUR CARE. OUR MISSION IS EXEMPLIFIED IN OUR EXCEPTIONAL, COMPASSIONATE CARE AND DEDICATION TO IMPROVE THE WELL-BEING OF THOSE WE SERVE.

Program Service Accomplishments

Program 1
Expenses: $228,879,031 Revenue: $294,346,591

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...

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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. MONTEFIORE INFORMATION TECHNOLOGY (MIT), THE FORMERLY DISREGARDED ENTITY OF THE ORGANIZATION, BECAME PART OF THE MONTEFIORE HEALTH SYSTEM, INC. 1-1-23. MIT WAS ORGANIZED PRIMARILY TO PROVIDE INFORMATION TECHNOLOGY SUPPORT SERVICES TO THE MEMBER ORGANIZATIONS, WORKING TO DEPLOY NEW TECHNOLOGIES AND DEFINE NEW BUSINESS PRACTICES IN ORDER TO PROVIDE STAKEHOLDERS ACROSS THE INSTITUTION WITH THE RESOURCES NEEDED TO MEET THEIR MOST DIFFICULT CHALLENGES. MONTEFIORE MEDICAL CENTER, THE UNIVERSITY HOSPITAL FOR ALBERT EINSTEIN COLLEGE OF MEDICINE AND ONE OF THE ORGANIZATION'S SUPPORTED ENTITY, 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.

Program 2
Expenses: $93,492,979 Revenue: $93,290,150

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...

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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 2023, MONTEFIORE HMO MANAGED 15,569 MEMBER MONTHS OF CONTRACTED LONG TERM CARE.

Program 3
Expenses: $442,339 Revenue: $1,816,200

MONTEFIORE SS HOLDINGS, LLC, MONTEFIORE MV HOLDINGS, LLC AND MONTEFIORE HA HOLDINGS, LLC, DISREGARDED ENTITIES OF MONTEFIORE HEALTH SYSTEM, INC., ARE THE HOLDING COMPANIES ESTABLISHED IN 2013 TO OWN...

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MONTEFIORE SS HOLDINGS, LLC, MONTEFIORE MV HOLDINGS, LLC AND MONTEFIORE HA HOLDINGS, LLC, DISREGARDED ENTITIES OF MONTEFIORE HEALTH SYSTEM, INC., ARE THE HOLDING COMPANIES ESTABLISHED IN 2013 TO OWN THE LAND AND BUILDINGS LEASED TO MONTEFIORE NEW ROCHELLE HOSPITAL, MONTEFIORE MOUNT VERNON HOSPITAL AND THE SCHAFFER EXTENDED CARE CENTER, RESPECTIVELY. THESE 501(C)(3) ORGANIZATIONS ARE SUPPORTED ENTITIES OF MONTEFIORE HEALTH SYSTEM, INC. AND ARE COMPRISED OF TWO HOSPITALS AND A NURSING HOME.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $114,623
Program Service Revenue $389,452,941
Investment Income $3,677,979
Other Revenue $199,950
TOTAL REVENUE $393,445,493

Expense Breakdown

Grants Paid $0
Salaries & Benefits $188,248,501
Fundraising Expenses $0
Program Expenses $322,814,349
Other Expenses $256,314,847
TOTAL EXPENSES $444,563,348

Year-over-Year Comparison

2023 2022 Change
Revenue $393,445,493 $381,942,085 +0.0%
Expenses $444,563,348 $411,045,343 +0.1%
Net Income $-51,117,855 $-29,103,258 +0.8%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
39
Independent Members
38
Employees
951
Volunteers
N/A

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
7
$21,913,035
Total Directors
40
$16,361,629
Key Employees
1
$2,759,560
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
N/A SECRETARY 0.8
Officer Director
$0 $0 $0
N/A VICE CHAIR 0.8
Officer Director
$0 $0 $0
N/A TREASURER 0.5
Officer Director
$0 $0 $0
N/A CHAIRMAN 0.8
Officer Director
$0 $0 $0
N/A PRESIDENT & CEO 2.0
Officer Director
$0 $46,776 $16,361,629
N/A TRUSTEE 0.3
Director
$0 $0 $0
N/A TRUSTEE 0.5
Director
$0 $0 $0
N/A TRUSTEE 0.3
Director
$0 $0 $0
N/A TRUSTEE 0.5
Director
$0 $0 $0
N/A TRUSTEE 0.3
Director
$0 $0 $0
N/A TRUSTEE 0.3
Director
$0 $0 $0
N/A TRUSTEE (RESIGNED 1/24/23) 0.3
Director
$0 $0 $0
N/A TRUSTEE 0.3
Director
$0 $0 $0
N/A TRUSTEE 0.3
Director
$0 $0 $0
N/A TRUSTEE 0.3
Director
$0 $0 $0
N/A TRUSTEE 0.3
Director
$0 $0 $0
N/A TRUSTEE 0.5
Director
$0 $0 $0
N/A TRUSTEE 0.3
Director
$0 $0 $0
N/A TRUSTEE 0.5
Director
$0 $0 $0
N/A TRUSTEE 0.3
Director
$0 $0 $0
N/A TRUSTEE 0.3
Director
$0 $0 $0
N/A TRUSTEE 0.3
Director
$0 $0 $0
N/A TRUSTEE 0.3
Director
$0 $0 $0
N/A TRUSTEE 0.3
Director
$0 $0 $0
N/A TRUSTEE 0.3
Director
$0 $0 $0
N/A TRUSTEE 1.0
Director
$0 $0 $0
N/A TRUSTEE 0.3
Director
$0 $0 $0
N/A TRUSTEE 0.3
Director
$0 $0 $0
N/A TRUSTEE 0.3
Director
$0 $0 $0
N/A TRUSTEE 0.5
Director
$0 $0 $0
N/A TRUSTEE 0.5
Director
$0 $0 $0
N/A TRUSTEE 0.3
Director
$0 $0 $0
N/A TRUSTEE 0.3
Director
$0 $0 $0
N/A TRUSTEE 0.3
Director
$0 $0 $0
N/A TRUSTEE 1.0
Director
$0 $0 $0
N/A TRUSTEE 0.5
Director
$0 $0 $0
N/A TRUSTEE 0.3
Director
$0 $0 $0
N/A TRUSTEE 0.3
Director
$0 $0 $0
N/A TRUSTEE 0.3
Director
$0 $0 $0
N/A TRUSTEE 1.0
Director
$0 $0 $0
N/A ASSISTANT SECRETARY 2.0
Officer
$0 $46,882 $1,872,945
N/A EXEC VP & CFO 5.0
Officer
$0 $29,882 $3,678,461
N/A SYSTEM SENIOR VP-OPERATIONS 2.0
Key Emp
$2,712,654 $46,906 $2,759,560
N/A SVP & CHIEF MEDICAL OFFICER 0.0
Highest
$2,220,206 $46,952 $2,267,158
N/A VP & CHIEF MARKETING OFFICER 0.0
Highest
$763,729 $46,776 $810,505
N/A VP NURSING & PATIENT CARE SRVC 0.0
Highest
$839,225 $47,331 $886,556
N/A SVP & EXECUTIVE DIRECTOR MOSES & WAKEFIELD CAMPUSES 0.0
Highest
$1,646,419 $373,067 $2,019,486
N/A SVP-NET POPULATION HEALTH MGMT 0.0
Highest
$1,391,841 $49,826 $1,441,667
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $393,445,493 $444,563,348 $886,300,716 $-51,117,855
2022 $381,942,085 $411,045,343 $840,185,224 $-29,103,258
2021 $277,667,137 $337,227,075 $787,550,963 $-59,559,938
2020 $269,518,485 $303,022,072 $777,729,354 $-33,503,587
2019 $308,553,187 $313,009,558 $705,121,118 $-4,456,371
2018 $323,837,513 $243,847,908 $747,563,227 $79,989,605
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