Mount Sinai Medical Center Foundation

“Trustees michael goldberg and barton goldberg have a family relationship. Trutees mark hildebrandt and jessica hildebrandt have a family relationship.”

“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.”

“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 th”

“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 medical center foundation relies on the process for determining compensation performed at msmc.”

“Policy for annual information request: documents that are required to be open for public inspection are made available upon request.”

“Equity transfer with the medical center 14,501,320.”