Memorial Sloan-Kettering Cancer Center

“DIRECTORS ELLEN V. FUTTER AND PETER J. SOLOMON - Business relationship, DIRECTORS ELLEN V. FUTTER AND RICHARD I. BEATTIE - Business relationship”

“Prior to filing the return, a review of the 990 was conducted by the senior vice president of finance and the chief financial officer. In addition, form 990 is prepared in conjunction with ernst and young, llp.”

“In 2023, msk's conflict of interest (coi) program was implemented through three comprehensive policies for memorial sloan kettering cancer center, memorial hospital for cancer and allied diseases and sloan-kettering institute for cancer research, which are outlined below: 1. Conflict of interest and commitment policy (the "individual coi policy"). A. The individual coi policy applied to: (i) physicians and scientists with academic appointments at any level; (ii) any clinical provider who could independently write orders or prescriptions; (iii) individuals whose roles included the design, conduct or reporting of research and/or were engaged in human subject research; (iv) administrative employees with independent authority to make purchasing decisions or who were otherwise able to bind, negotiate on behalf, or execute agreements on behalf of, msk; and (v) individuals that served on msk institutional committees with responsibility for oversight of research, formulary, or purchasing decisions. B. Msk's compliance coi office ("compliance") and the institutional conflict of interest committee (the "msk coi committee") were responsible for the dministration of this policy, under the oversight of the committee of the board (the "board coi committee") dedicated exclusively to discharging the board's responsibility and authority over msk's conflicts of interest program. C. Upon becoming covered by the individual coi policy, annually thereafter and/or as new significant interests arose, an individual was required to disclose financial interests and external relationships and activities ("interests"), whether paid or unpaid, that reasonably appeared to be related to the individual's institutional responsibilities. Covered persons were required to disclose interests for themselves and immediate family members. D. Depending on the circumstances and based on established criteria, disclosed interests were reviewed by compliance, the msk coi committee, msk coi committee designee(s), and/or the board coi committee to determine whether an individual conflict of interest existed or presented the perception thereof (i.e. Whether an individual financial interest could directly and significantly impact an individual's institutional responsibilities, or an individual's interest could be directly and significantly impacted by their institutional responsibilities). E. The policy required any individual conflict of interest to be managed, reduced or eliminated. When a conflict of interest determination was made, the msk coi committee, the msk coi committee designee(s), or the board coi committee, as applicable, determined how to address it. For those conflicts deemed manageable, management strategies implemented included disclosure of the interest in relevant publications, presentations, consent forms, and educational materials; recusal and/or other limitation on role; independent oversight by a disinterested senior personnel member or committee; and temporary or permanent reduction, divestiture, relinquishment, or termination of an individual's interest. 2. Institutional conflict of interest policy (the "institutional coi policy"). A. The institutional coi policy applied to financial interests and relationships ("interests") held by msk as an institution, as well as those financial interests and relationships ("interests") held by senior executive officers deemed "institutional officials, their immediate family members. B. Institutional interests held by msk were made available to compliance through regular reports from and ongoing engagement with relevant msk departments. Institutional interests held by institutional officials were disclosed through the process described above in the individual coi policy, as well as the process described below in the board coi policy. C. The msk coi committee or msk coi committee designee(s) were responsible for determining whether an institutional conflict of interest existed; i.e. Whether the institutional interes”

“Memorial sloan-kettering cancer center is committed to ensuring that its executive compensation program adheres to the established standards of regulatory compliance and best corporate governance. The board of trustees and governing trustees has charged the joint human resources 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 reviews the total compensation of the individuals, including both current and deferred compensation, and all employee benefits, on an annual basis to ensure that the total compensation of each officer and key employee is reasonable. To assist in the completion of its responsibilities, the committee engages the services of a nationally recognized consulting firm specializing in executive compensation for not-for-profit healthcare organizations. Each year the committee reviews a comprehensive report prepared by the firm that includes market data for functionally comparable roles in comparable organizations (i.e., not-for-profit academic/research medical centers, especially those sharing a mission similar to mskcc's, with other healthcare sectors considered on a selected basis) and summarizes the relative market position of each executive's total compensation. The last review was march 2022, which set the compensation for the period april 2022 to march 2023. Additionally, a senior member of the consulting firm attends the committee's meetings to provide information and to respond to questions by the members of the committee. Compensation levels are established considering the market data, an assessment of performance, and other business judgment factors, consistent with mskcc's executive compensation philosophy. The committee's decisions are made in the best interests of mskcc and are intended to ensure the recruitment and retention of key executive talent, consistent with the market practices of other not-for-profit healthcare organizations of comparable scope, mission and complexity. On an annual basis, the committee provides the full board with an overview of its determinations and process. The committee's review process follows the intermediate sanctions' guidelines for qualifying for the rebuttable presumption of reasonableness under section 4958 of the internal revenue code of 1986: - the compensation arrangement is approved in advance by an "authorized body" of the applicable tax-exempt organization (i.e, the committee, which is composed entirely of individuals who do not have a conflict of interest within the meaning of the regulations under section 4958). - the authorized body obtains and relies upon "appropriate data as to comparability" prior to making its determination, for which comparability data are provided and analyzed by sullivan, cotter and associates, inc., a well-regarded expert in the area of healthcare compensation. The committee adequately documents the basis for its determination concurrently with making that determination, again as required in the regulations.”

“The organization engaged dac bond as its investor relations and disclosure/dissemination agent. As such copies of the audited and quarterly unaudited financial statements, and bond offering statements for all debt issues can be accessed at its website, www.dacbond.com. Copies of the organization's group 990 and the audited financial statements of memorial sloan-kettering cancer center and its affiliates can also be found at dac bonds. The conflict-of-interest policy is also available to the public upon request and/or can be found at the institutional web site: www.mskcc.org. Governing documents such as the articles of incorporation and corporate by-laws are not accessible to the public.”

“GIFT SHOP INCOME - Total Revenue: 1594000, Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: 1594000; All Other - Total Revenue: 16607673, Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: 16607673;”

“Memorial sloan-kettering cancer center provides the following services to its affiliated organizations: financial administration, executive management, human resources, facility management, general and environmental services, procurement, public affairs, research technology management, corporate compliance, information systems and technology, and investment management. In addition, certain services are provided on a requisition basis including food and dietary services, facilities management (locksmith, electrician, plumbing, painting and carpentry, etc.) medical library, conference planning, occupancy of leased space, transportation, immigration services, medical illustration, motion media, security services such as installing anti-theft devices and mailroom services.”

“Cafeteria: the center operates a cafeteria in the main building complex where visitors and patients can purchase meals and snacks. Society of mskcc: the society of memorial sloan-kettering cancer center, founded in 1946, is a volunteer organization dedicated to promoting the well-being of patients, supporting cancer research and providing public education on the prevention, early detection and treatment of cancer. Prostate cancer clinical trials consortium, llc. (pcctc): the prostate cancer clinical trials consortium (pcctc) was initiated in 2005 by the prostate cancer foundation (pcf) and the u.s. Department of defense (dod) prostate cancer research program (pcrp). Established as an independent entity in 2014, the pcctc, llc is now the nation's premier multicenter clinical research organization specializing in cutting-edge prostate cancer research. Msk is the single member of the pcctc, who has elected to be treated as a disregarded entity of msk for tax purposes. The costs shown here for the above programs, are exclusive of fundraising activities, which are reported in part ix, column d. Expense cafeteria $ 5,423,714 society $ 3,906,827 pcctc $17,427,773 total $26,758,314 revenue cafeteria $ 4,441,000 society $ 0 pcctc $18,978,000 total $23,419,000”

“Other non-operating expenses - xxx-xx-xxxx; change in postretirement revenue - -36718000;”

“All of the values listed are at cost, with the exception of the investments, which are valued at fair market value.”

“THE FINANCIAL STATEMENTS OF MEMORIAL SLOAN-KETTERING CANCER CENTER AND ITS AFFILIATES ARE AUDITED BY AN INDEPENDENT ACCOUNTING FIRM ON A COMBINED BASIS. THE COMBINED STATEMENTS INCLUDE THE ACCOUNTS OF THE FOLLOWING TAX EXEMPT, SECTION 501(C)(3), INCORPORATED AFFILIATES: MEMORIAL SLOAN-KETTERING CANCER CENTER (EIN 13-1924236), MEMORIAL HOSPITAL FOR CANCER AND ALLIED DISEASES (EIN 13-1624082), SLOAN-KETTERING INSTITUTE FOR CANCER RESEARCH (EIN 13-1624182), S.K.I. REALTY, INC. (EIN 13-3389586), LOUIS V. GERSTNER JR., GRADUATE SCHOOL OF BIOMEDICAL SCIENCES (EIN 20-2212588), AND MSK INSURANCE US, INC.(MVI) EIN 83-0363317. INCLUDED IN THE GROUP EXEMPTION IS MSKCC PROPERTIES LLC (EIN 35-2464610) WITH MEMORIAL HOSPITAL BEING THE SOLE MEMBER, AND MSKCC PROTON, INC. (EIN 35-2397819). MEMORIAL SLOAN-KETTERING CANCER CENTER's FINANCIAL STATEMENTS ARE NOTAUDITED INDEPENDENT OF THE COMBINED. REFER TO SCHEDULE D FOR A RECONCILIATION OF THE 990 TO THE CENTER'S FINANCIAL STATEMENTS.”