Nyu Langone Hospitals

“Description of relationships: lori fink, trustee, & laurence d. Fink, co-chair, have a family relationship. Isaac perlmutter & laura perlmutter, trustees, have a family relationship. Alice m. Tisch & thomas j. Tisch, trustees, have a family relationship. Barry schwartz & debra perelman, trustees, have a business relationship. David a. Katz, esq. & martin lipton, esq., trustees, have a business relationship. Laurence d. Fink, co-chair & linda gosden robinson, trustee, have a business relationship.”

“Description of classes of members or stockholders: the sole member of nyu langone hospitals is nyu langone health system.”

“Description of classes of persons and the nature of their rights: with respect to the election of the board of trustees of nyu langone hospitals, nyu langone health system (the "member"), as the sole member has the power and authority: 1. To elect the trustees; 2. Remove a trustee; and 3. Fill any vacancies in the board. Any action taken by the member must be approved by new york university, the sole voting member of the member, in order to be effective.”

“Description of classes of persons, decisions requiring approval and the type of voting rights: with respect to the decisions of the board of trustees of nyu langone hospitals, nyu langone health system (the "member") as the sole member, has the power and authority over the following matters: 1. Electing the corporation's board of trustees; 2. Removing the corporation's board of trustees; 3. Filling any vacancies in the corporation's board of trustees; 4. Amending or repealing the by-laws or adopting new by-laws; 5. Approving the corporation's merger or consolidation with another entity; 6. Approving the sale, lease, exchange or other disposition of all, or substantially all, the assets of the corporation; 7. Reviewing the vision, mission and strategic and financial plans of the corporation; 8. Reviewing the corporation's annual operating and capital budgets, provided that final approval of the budgets shall remain with the corporation; 9. Approving any transaction having a value $50,000,000 or more, provided, that final approval of hospital debt necessary to finance the cost of compliance with operation or physical plant standards required by law, or to implement certificate of need applications, shall remain with the corporation; 10. Approving the creation and/or dissolution of an entity in which the corporation is proposed to be, or is, the controlling member; and 11. The exercise by the corporation acting in its capacity as direct or indirect member, shareholder or partner of any affiliate, subsidiary or joint venture. Any action taken by the member must be approved by new york university, the sole voting member of the member, in order to be effective.”

“Description of the process used by management and/or governing body to review the form 990: 1. The finance department drafts the form 990 and the accompanying schedules based on the fiscal year's financial activity. 2. The draft is provided to the organization's external tax advisor for review. 3. The draft is then reviewed by the senior vice president of finance and chief financial officer for completeness and accuracy. This is an iterative process which may involve more than one review by the organization's external tax advisor. 4. The reviewed draft is presented to the board of trustees' audit committee, as well as certain other officers for review. 5. Once approved by the audit committee, the form 990 is made available to the full board and then it is electronically filed with the irs.”

“Description of the process to monitor transactions for conflicts of interest: nyu langone health is the name of the integrated academic medical center that includes nyu langone health systems, nyu langone hospitals, and nyu's grossman school of medicine and long island school of medicine. All members of the nyu langone health community, including employees, trustees, officers, faculty, medical staff, residents, fellows, students, volunteers, trainees, vendors, contractors, consultants, sponsored individuals, and agents, have an obligation to conduct their nyu langone health duties and the affairs of nyu langone health in the best interests of the organization and in compliance with legal and regulatory requirements and nyu langone health policies, including its conflict of interest policies (the "conflicts policies"). In addition, specified members of the nyu langone health community have a duty to disclose annually and on an ongoing basis any activities or financial interests that may present actual or potential conflicts of interest where those interests could, or have the potential to, influence one's ability to perform their jobs in the best interests of nyu langone health. Disclosure process in accordance with the conflicts policies, the following members of the nyu langone health community are required to submit to the conflicts of interest management unit ("cimu") a conflicts disclosure statement upon appointment or hire and annually thereafter; they also have an ongoing obligation throughout the year to disclose actual or potential conflicts as they may arise. Members of the nyu langone health community required to provide conflicts disclosures include: - trustees, officers, and key persons - the dean/ceo and members of the executive leadership team - chairs, vice chairs, vice presidents, associate and assistant deans, department and division administrators - employees at the director level and above - full-time faculty members and part-time employed faculty members - anyone responsible for the design, conduct, or reporting of research or other sponsored projects (i.e., investigators and other key research personnel) - supply chain management/purchasing employees and anyone involved in purchasing decisions and/or contract negotiations on behalf of nyu langone health - members of oversight committees related to patient care, purchasing, research, or education - employees of the office of audit, compliance, and enterprise risk management, the office of general counsel, the office of government affairs, and certain members of the office of science and research as part of the disclosure process, members of the nyu langone health community are required to certify compliance with the applicable conflicts policies. The office of general counsel ("ogc") reviews conflicts disclosures with respect to trustees, officers, and key persons. In cases of an actual or potential conflict of interest, in consultation with the chair of the audit and compliance committee (the "acc"), ogc submits the conflict to the acc for review and evaluation; if the acc determines that a conflict exists, the acc adopts a plan to manage, reduce, or eliminate the conflict. In the case of related party transactions under new york law, the transaction may not be entered into unless the acc determines that the transaction is fair, reasonable, and in the best interests of nyu langone health. In certain instances as required pursuant to the conflicts policies, the conflict must also be reviewed and evaluated by nyu's audit and compliance committee. For all other members of the nyu langone health community, cimu is responsible for reviewing and evaluating conflicts disclosures and for determining whether a real or potential conflict of interest exists under the circumstances. In cases where there is an actual or potential conflict of interest, cimu may issue a management plan to manage, reduce, or eliminate the conflict or submit the matter for further review t”

“Lines 15a and 15b: offices and positions for which process was used and year process was begun: the executive compensation process at nyu langone hospitals ("nyulh") is administered by a committee of trustees that did not have a conflict of interest with respect to the compensation arrangements at issue. The committee follows a board approved charter which empowers them to administer the executive compensation program and process on behalf of the full board of trustees of nyulh. In carrying out its responsibilities, the committee will: (1) ensure the adoption of and monitor the adherence to policies and procedures for determining and documenting reasonable employee compensation; (2) ensure the maintenance of documentation confirming that all employee compensation is reasonable in nature, approved in accordance with approved policy, is the value that would ordinarily be paid for like services by a like enterprise under like circumstances and given the required tax treatment; and (3) monitor employee benefit retirement plans that involve the establishment and management of designated funds (except investment management) for the benefit of employees generally or specified groups of employees. In reviewing and approving the compensation of highly compensated individuals and of individuals who are in a position to influence the affairs of nyulh, the committee may rely upon appropriate data as to comparability and shall adequately and timely document the basis for its determination concurrently with making that determination. The documentation shall include the terms of the transactions and the date of its approval, the members of the compensation and benefits committee present during the debate and vote on the transaction, the comparability data obtained and relied upon, the acts of any members of the committee having a conflict of interest and documentation of the basis for the determination. The committee review takes place on the following schedule: (1) annually for all vice president, vice deans, chairs and above, i.e., key executives; (2) at hire and for adjustment of compensation for key executives and covered individuals; (3) every 3 years a global review all faculty salaries will be performed and salaries related to changes in responsibilities or new hires will be done on a retroactive review basis.”

“Availability of forms 1023, 990, and 990-t to the general public: the organization's forms 1023, 990, and 990-t are made available upon request by e-mail at [email protected].”

“Availability of governing documents, conflict of interest policy and financial statements to the general public: the organization's conflict of interest policy is available on its website at: http://nyulangone.org/policies-disclaimers/conflicts-interest. The organization's governing documents are not made publicly available. The organization's financial statement is made available to the public as part of its annual filing with the nys attorney general's office and is available through their website.”

“Changes in pension & postretirement obligations 10,799,929. Equity transfer - related entities -568,485,377. Transfer for self-insurance -65,869,697.”