ALBERT EINSTEIN COLLEGE OF MEDICINE INC

EIN: 472209056 501(c)(3)

BRONX, NY

Total Revenue
$353,158,371
Total Expenses
$435,361,688
Total Assets
$994,292,145
Net Assets
$511,813,904
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Organization Details

Formation Year
2014
Legal Domicile
NY
Principal Officer
Gordon F Tomaselli MD
Phone
7184302000
Tax Period
2018-01-01 to 2018-12-31

ALBERT EINSTEIN COLLEGE OF MEDICINE INC, founded in 2014, is a major nonprofit that reported $353.2M in total revenue in fiscal year 2018. Expenses of $435.4M exceeded revenue, resulting in a 23% operating deficit.

Mission

TO ADVANCE BASIC SCIENCE, HEALTH-RELATED AND TRANSLATIONAL RESEARCH IN THE PUBLIC INTEREST, TRAIN ETHICAL COMPASSIONATE PHYSICIANS AND SCIENTISTS AND FACILITATE MEDICAL EDUCATION.

Program Service Accomplishments

Program 1
Expenses: $103,081,426 Revenue: $92,007,871

Education: On his 74th birthday, March 14, 1953, Albert Einstein agreed to lend his name to a new educational institution, formally creating Albert Einstein College of Medicine - the first medical...

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Education: On his 74th birthday, March 14, 1953, Albert Einstein agreed to lend his name to a new educational institution, formally creating Albert Einstein College of Medicine - the first medical school built in New York City since 1897 and the only medical School on which Albert Einstein bestowed this honor. A great humanitarian as well as a brilliant scientist, Albert Einstein specified that the College of Medicine welcome students of all creeds and races. The first class, admitted on September 12, 1955, totaled just 56 students. Today, more than 9,000 Einstein alumni are among the nations foremost clinicians, biomedical scientists and medical educators, and our program for medical education is one of the largest in the United States. During the current academic year, we were home to 697 M.D. students and 296 Ph.D. students (including students in the combined M.D.- Ph.D. program) as well as 260 postdoctoral research fellows at our Belfer Institute for Advanced Biomedical Studies. Einstein was among the first of the major medical schools to bring first-year students into contact with patients and link classroom study to case experience. The Community Based Service Learning (CBSL) program supports students who want to make a difference in the community. The program provides early career exposure via experiential education, training, workshops and seminars centering on community engagement. CBSL also serves as a clearinghouse for information and opportunities, providing guidance and assisting with program planning and logistical issues. The program is made up of a network of student-initiated community service projects that are part of the Einstein Community Action Network (Einstein-CAN), providing services and advocacy for vulnerable populations in the Bronx. Among the initiatives are BODY (Bronx, Obesity, Diabetes and You); the Buddies program; EiSci (Einstein Science High School Mentoring Program); HEART (HIV Education and Rapid Testing), HOPE (Homeless Outreach Project at Einstein), H4H (Hoops for Health), PACT (Patient Advocate Connection), SPHERE (Space in Prison for Health Education for Re-Entry), START (Students, Teachers and Researchers Teach Science) and TEACH (Together Educating All Children in Hospitals). We led the way in developing bioethics as an accepted academic discipline in medical school and were the first private medical school in New York City to establish a residency program in internal medicine with an emphasis on womens health. The M.D. program prepares tomorrows physicians to excel in both the science and the art of medicine by combining the pursuit of scientific excellence with compassionate and humanistic care. We aim to improve human health on the local, national and global levels. The open and supportive community at Einstein allows for innovation and for pushing the boundaries of what is known and what is practiced. We educate our students to be catalysts for social change. Einstein runs one of the largest residency and fellowship training programs in the medical profession through Montefiore Medical Center and a network of affiliates that includes hospitals and medical centers in metropolitan New York. Each year, For the last decade, well over 95 percent of our students have matched to residencies, with more than a third of students going into the primary-care specialties of internal medicine, pediatrics and family medicine. Our graduates also enter research programs focusing on a broad range of subjects, from traditional disease-oriented investigations in cancer, diabetes and infectious diseases to public health and global medicine. The Ph.D. program trains promising and passionate students to become the next generation of leading scientists. The collaborative culture at Einstein is at the heart of the program. Prospective students apply directly to the Ph.D. program rather than to a specific department, allowing them to explore many areas of research before choosing from among more than 200 laboratories in which to conduct their thesis work. Our interdisciplinary graduate curriculum is known for its high level of personalized mentoring and remarkable student achievement. Einsteins extraordinary graduate experience produces independent biomedical scientists capable of carrying out significant scientific work to improve the health and well-being of humankind. Our Ph.D. program has more than 1,500 graduates employed in a wide range of scientific careers, both in academic and in nonacademic settings worldwide. The Medical Scientist Training Program (MSTP) (resulting in both M.D. and Ph.D. degrees) trains a diverse group of outstanding students as physician-scientists to become future leaders in academic medicine and medical research. Among the first such programs nationwide and continuously funded by the National Institutes of Health (NIH) since 1964, the program integrates MSTP-specific courses with medical and graduate courses during the first two years of preclinical course work. Integration continues in the Ph.D. thesis years through weekly involvement in clinics, conferences and seminars, after which, students perform their clinical clerkships in completion of their medical school training. The Clinical Research Training Program (CRTP) (leading to a master of science in clinical research methods) is an intensive two-year program designed for those pursuing careers in investigator-initiated, hypothesis-driven clinical research. CRTP scholars are drawn from Einsteins many medical specialties and subspecialties for clinical investigation across the entire translational research spectrum, from mechanistic studies to population-based and health services research. The comprehensive program combines didactic learning and coursework with mentored research experiences. The Einstein-Cardozo Master of Science in Bioethics program examines how moral, ethical and religious values affect medical decisions and healthcare policy. Students learn to assess how emotions and reason shape the choices of patients, doctors and family members, and even judicial decisions and laws. Crucial bioethics issues include medical choices at the end of life, the allocation of scarce healthcare resources, protections for human research subjects, the privacy of medical information and the roles of race, class and ethnicity in health outcomes and access to care. Through Einsteins Global Health Center, faculty members and medical students travel to underdeveloped countries providing much needed medical care and gaining, in the process, invaluable knowledge in the combating of diseases. The Global Health Center boasts many initiatives worldwide, including clinical and research programs in Argentina, Brazil, Burundi, Cameroon, China, Congo, Ethiopia, Guatemala, Haiti, India, Kenya, Malawi, Mexico, Nigeria, Rwanda, South Africa, Uganda and Vietnam. The mission of the Global Health Center is to bring education, research and needed health services to the world, with the ultimate goal of reducing disparities in health and alleviating human suffering. Einstein has always had an interest in providing support for historically underrepresented students. We are committed to developing a broadly diverse cadre of clinicians, researchers and educators who can effectively promote health and address health disparities in our local community, around the nation and abroad. Our office of diversity enhancement aims to establish and maintain an environment that celebrates diversity; emphasizes professionalism and excellence; and promotes and nurtures future leaders in medicine and research. Einstein reaches out to students in the Bronx and beyond - particularly to students from underrepresented minorities - with a variety of programs. Befitting Einstein's tradition of inclusion and academic excellence that fully embraces faculty and student-body diversity, and its commitment to the values espoused by its namesake, Einstein was among the first medical schools to appoint a deans office leader for community engagement. The Einstein Enrichment Program (EEP) is part of a New York State-funded enrichment program called Step (Science Technology Entry Program). Its mission is to serve economically disadvantaged and/or minority students in grades 7 through 12 who are from groups historically underrepresented in the medical and scientific professions. All of the students live and attend school in the Bronx, in support of Einstein's commitment to this borough. The EEP includes professional seminars, teen service learning, academic enrichment (including SAT and Regents prep) and summer internship placements. One hundred percent of the high school seniors in the program have gone on to attend four-year colleges. The Summer Undergraduate Mentorship Program (SUMP) of the Hispanic Center of Excellence offers college students from groups underrepresented in medicine and/or from economically disadvantaged backgrounds the opportunity to "Shadow" physicians in preferred s

Program 2
Expenses: $301,519,370 Revenue: $14,357,138

Research: While education is at the heart of Einsteins mission, it is biomedical research that drives the College of Medicines growth. Over the past 60 years, Einstein has become a premier biomedical...

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Research: While education is at the heart of Einsteins mission, it is biomedical research that drives the College of Medicines growth. Over the past 60 years, Einstein has become a premier biomedical research institution in this region of New York City, with its scientific enterprise ranked consistently in the top 25 percent of medical schools receiving NIH funding in the last decade. Einstein is home to many NIH-funded research multidisciplinary research centers - in diabetes, intellectual and developmental disorders, aging, liver diseases, health disparities, HIV/AIDS, cardiovascular research, organ transplantation and cancer - and it also provides an extensive array of translational research cores, including tissue analysis; multiscale imaging; molecular design; and genetic and genomic, proteomic and human phenotyping. Our Strategic Plan focuses on areas where we can significantly advance science and improve human health. Our aim is to develop robust multidisciplinary research programs for adult and pediatric patients, with particular emphases in six areas: brain science; immunotherapeutics; obesity and metabolic disorders; cancer; healthcare delivery and clinical effectiveness; and RNA science and medicine. Concurrently we are advancing our Center for Experimental Therapeutics, providing researchers with resources to pursue promising experimental projects with the goal of discovering new and better therapies. In federal fiscal year 2018, the NIH awarded Einstein 172 million in research funding. Philanthropic funding supports innovative research projects and educational initiatives. Much of our research is conducted in the Michael F. Price Center for Genetic and Translational Medicine/Harold and Muriel Block Research Pavilion, one of the newest, largest and "greenest" biomedical research facilities in the New York area. Einstein operates eight NIH Health & Human Servicesdesignated centers: the Albert Einstein Cancer Center, Bronx HOPE (Health Opportunities Partnership-Einstein), the Center for Diabetes Translation Research, the Einstein-Mount Sinai Diabetes Research Center, the Harold and Muriel Block Institute for Clinical and Translational Research (ICTR) at Einstein and Montefiore, the Marion Bessin Liver Research Center, the Nathan Shock Center of Excellence in the Basic Biology of Aging and the Rose F. Kennedy Intellectual and Developmental Disabilities Research Center. As an engine for research collaboration, the NIH-funded ICTR has been a key factor in formally joining Einstein and Montefiore into a single entity with a shared mission. The ICTR is at the leading edge in comparative effectiveness, informatics, population health and lifespan research innovation. Our investment in research has translated into improved human health. Einsteins relationship with Montefiore supports a longstanding focus on bench-to-bedside research, through which discoveries in Einsteins laboratories lead to therapies and treatments for patients on an accelerated timetable. In the last decade, Einstein researchers were the first to show that low scores on a cancer-recurrence gene test may allow breast cancer patients to skip chemotherapy. We linked a childs abnormal breathing during sleep with behavioral, emotional and relationship troubles; discovered that slow walking speed plus memory complaints are predictors of dementia; created a prototype vaccine against tuberculosis that works better in animal models than the current TB vaccine; and discovered "longevity genes" in humans. Among our many ongoing initiatives are studies of healthcare-associated infections in children in ambulatory care settings and research on HIV eradication and the use of PrEP (pre-exposure prophylaxis) to reduce the risk of contracting HIV. Einstein is currently one of just four sites nationwide taking part in a large-scale study of the health status of the Hispanic/Latino community in the Bronx, supported by the NIH.

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

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Financial Overview (2018)

Revenue Breakdown

Contributions & Grants $234,310,353
Program Service Revenue $96,586,791
Investment Income $6,090,199
Other Revenue $16,171,028
TOTAL REVENUE $353,158,371

Expense Breakdown

Grants Paid $18,325,122
Salaries & Benefits $231,272,003
Fundraising Expenses $3,134,579
Program Expenses $404,600,796
Other Expenses $185,764,563
TOTAL EXPENSES $435,361,688

Year-over-Year Comparison

2018 2017 Change
Revenue $353,158,371 $339,602,600 +0.0%
Expenses $435,361,688 $420,969,907 +0.0%
Net Income $-82,203,317 $-81,367,307 +0.0%
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
28
Independent Members
25
Employees
2592
Volunteers
265

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
$4,204,771
Total Directors
39
$11,979,185
Key Employees
2
$970,689
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Philip Altheim Trustee 1.0
Director
$0 $0 $0
Linda Altman Trustee 1.0
Director
$0 $0 $0
Diane Belfer Trustee 1.0
Director
$0 $0 $0
Gerald Dorros MD Trustee 1.0
Director
$0 $0 $0
Betty Feinberg Trustee 1.0
Director
$0 $0 $0
Elliot Gibber Trustee (Term ended 12/31/18) 1.0
Director
$0 $0 $0
Jay N Goldberg Trustee 1.0
Director
$0 $0 $0
Arthur N Hershaft Trustee 1.0
Director
$0 $0 $0
Michael G Jesselson Trustee (Term ended 12/31/18) 1.0
Director
$0 $0 $0
Joshua Joseph Trustee (Term ended 12/31/18) 1.0
Director
$0 $0 $0
Nathan S Kahn Trustee 1.0
Director
$0 $0 $0
Marilyn L Katz Trustee 1.0
Director
$0 $0 $0
Stanley M Katz Trustee 1.0
Director
$0 $0 $0
Laizer Kornwasser Trustee (Term ended 12/31/18) 1.0
Director
$0 $0 $0
Henry Kressel PhD Trustee (Term ended 12/31/18) 1.0
Director
$0 $0 $0
Andrew J Lauer Trustee 1.0
Director
$0 $0 $0
Edward S Pantzer Trustee 1.0
Director
$0 $0 $0
Arnold S Penner Trustee 1.0
Director
$0 $0 $0
Michael F Price Trustee 1.0
Director
$0 $0 $0
Lynn Richmond Trustee 1.0
Director
$0 $335,589 $2,036,547
Steven M Safyer MD Trustee 1.0
Director
$0 $45,244 $8,030,595
Michael A Stocker MD Trustee 0.5
Director
$0 $0 $0
Moshael Straus Trustee (term ended 12/31/18) 1.0
Director
$0 $0 $0
David A Tanner Trustee (Term ended 12/31/18) 0.5
Director
$0 $0 $0
Daniel R Tishman Trustee 1.0
Director
$0 $0 $0
Samuel G Weinberg Trustee 1.0
Director
$0 $0 $0
Zygmunt Wilf Trustee 1.0
Director
$0 $0 $0
Benjamin J Winter Trustee 1.0
Director
$0 $0 $0
Roger W Einiger Chairman 1.0
Officer Director
$0 $0 $0
Ruth L Gottesman EdD Trustee/Chair Emeritus 0.5
Director
$0 $0 $0
Ira M Millstein Secretary/Chair Emeritus 1.0
Officer Director
$0 $0 $0
Robert A Belfer Trustee/Chair Emeritus 1.0
Director
$0 $0 $0
Burton P Resnick Trustee (Resigned 6/1/18) 1.0
Director
$0 $0 $0
Nathan Gantcher Treasurer 1.0
Officer Director
$0 $0 $0
Christopher Panczner Assistant Secretary 1.0
Officer Director
$0 $627,752 $1,912,043
Karen A Mandelbaum Trustee 1.0
Director
$0 $0 $0
Ira M Mitzner Trustee (Term ended 12/31/18) 1.0
Director
$0 $0 $0
Rabbi Ari Berman MD Trustee (term ended 12/31/18) 1.0
Director
$0 $0 $0
Lewis Rubin MD Trustee (Term ended 12/31/18) 1.0
Director
$0 $0 $0
Allen M Spiegel MD President/CEO (Resigned 6/18) 49.0
Officer
$1,300,189 $16,306 $1,316,495
James Geraghty Chief Financial Officer 25.0
Officer
$185,157 $42,110 $412,424
Gordon F Tomaselli MD President/CEO (Effect 7/1/18) 49.0
Officer
$419,810 $143,999 $563,809
Edward R Burns MD Executive Dean 50.0
Key Emp
$720,405 $46,741 $767,146
Jed M Shivers Associate Dean (Term 5/11/18) 50.0
Key Emp
$184,886 $18,657 $203,543
Mark F Mehler Professor 50.0
Highest
$591,101 $30,375 $621,476
David I Goldman Professor 50.0
Highest
$576,432 $48,993 $625,425
Michael Lipton Professor 50.0
Highest
$515,043 $48,923 $563,966
Michael B Prystowsky MD Professor 50.0
Highest
$504,164 $46,050 $550,214
ALLAN W WOLKOFF PROFESSOR 50.0
Highest
$480,383 $48,380 $528,763
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
2018 $353,158,371 $435,361,688 $994,292,145 $-82,203,317
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