Mitral Foundation

“FORM 990 PROVIDED TO GOVERNING BODY The Finance Department gathered the relevant information and prepared the tax returns. *Our outside auditors, Ernst & Young, participated in the preparation of, and reviewed, all tax returns. * A questionnaire was circulated to all trustees (i.e., directors), officers and key employees in order to elicit the information required to be reported on the tax returns. * A Committee reviewed the responses provided by trustees and certain officers in the questionnaires and assessed additional pertinent facts gathered by the institution in order to evaluate the applicability of IRS reporting requirements. The Review Committee then determined the appropriate trustee (and certain officer) disclosures that should be made on Form 990 based on the recommendations of the Finance Department, the General Counsel's office and the Audit and Compliance Department. These recommendations were reviewed and approved by E&Y. The same process was conducted by the Finance Department, the General Counsel's office, the Audit and Compliance Department and E&Y with respect to the questionnaires submitted by other officers and key employees. * The tax returns were presented to the Audit and Compliance Committee of the Board of Trustees with the participation of E&Y, the Finance Department, the General Counsel's office, and the Audit and Compliance Department. The Audit Committee reviewed and approved the tax returns as presented. * The Audit Committee's report of its review of the tax returns and its recommendation to file the returns were presented to, and accepted by, the Executive Committee of the Board of Trustees (the "Executive Committee"). * In addition to authorizing the filing of the tax returns, the Executive Committee directed that the returns, which will be filed on or before November 15, 2015, be provided to all trustees via the trustees' confidential website, and those returns were so provided before being filed.”

“MONITORING & ENFORCING COMPLIANCE WITH THE POLICY Compliance with the Organization's Business Conflicts of Interest Policy (the "Policy") is required of trustees, employees, medical staff and non-employee members of institutional committees and includes an ongoing duty to disclose potential conflicts. Compliance with the Policy is monitored and enforced regularly and consistently. All disclosures with the potential for conflict are reviewed by an appropriate committee where they are carefully evaluated. When appropriate, a plan, which may involve measures including, but not limited to, recusal from participating in affected transactions, is developed to manage the potential conflict.”

“The boards of the mount sinai medical center, icahn school of medicine at mount sinai and the mount siniai hospital have adopted all policies referred to in form 990, part vi, section b questions 12 to 14, which would apply to all owned/controlled entities, including mitral foundation.”

“Governing documents, conflict of interest policy available to the public the organization makes its business conflicts of interest policy available on its website (www.mountsinai.org) and makes its governing documents and financial statements available upon request.”

“NUMBER OF EMPLOYEES THE MOUNT SINAI HOSPITAL AND ICAHN SCHOOL OF MEDICINE AT MOUNT SINAI, INCLUDING EMPLOYEES PROVIDING SERVICES AT ELMHURST HOSPITAL CENTER AND QUEENS HOSPITAL CENTER, UTILIZE A COMMON PAYMASTER UNDER THE HOSPITAL'S TAX IDENTIFICATION NUMBER. THE TOTAL NUMBER OF EMPLOYEES REPORTED UNDER THE MOUNT SINAI HOSPITAL'S TAX IDENTIFICATION NUMBER WITH THE COMMON PAYMASTER SYSTEM IS 23,734 INDIVIDUALS. IN ADDITION, THE MOUNT SINAI HOSPITAL OPERATES PAYROLL FOR SOME RELATED ENTITIES, INCLUDING THE MITRAL FOUNDATION, AS WELL AS SHARED EMPLOYEE EXPENSE. ALL SALARIES ARE ALLOCATED BACK TO THE SEPARATE ENTITIES AND REPORTED AS IF PAID DIRECTLY BY THEM. PART VI, LINE 7A PERSONS WITH AUTHORITY TO ELECT MEMBERS OF THE GOVERNING BODY Icahn School of Medicine at Mount Sinai has the power to appoint four (4) of the seven (7) members of the Board of Directors of the organization. Jurgen A. Friedrich has the authority to appoint the remaining three (3) members of the Board of Directors of the organization.”