Liabilities / Assets
16th percentile
Higher debt load relative to assets than 16% of similar nonprofits.
MMC Residential Corp I Inc
EIN 91-1943271 • 501(c)2 • Bronx, NY
Profile
Mmc residential corp. I, inc. Provides housing to medical residents of montefiore medical center in order for the residents to reside near the hospital to ensure the continuity of medical care to the patients served.
Siviq Scores
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
0.05x
Liabilities / Revenue
19th percentile
Higher debt load relative to revenue than 19% of similar nonprofits.
Net Margin
82nd percentile
Higher net margin than 82% of similar nonprofits.
Top Officer Pay
100th percentile
Higher top officer pay than 100% of similar nonprofits.
Top officer pay equals 57.8% of source-year revenue.
Asset Growth
84th percentile
Faster asset growth than 84% of similar nonprofits.
Revenue Growth
44th percentile
Faster revenue growth than 44% of similar nonprofits.
Balance Sheet
Assets
Up$12,243,911
Up $1,885,403 (+18%) from 2022
Liabilities
Up$313,448
Up $63,773 (+26%) from 2022
Net Assets
Up$11,930,463
Up $1,821,630 (+18%) from 2022
Revenue
Up$3,201,229
Up $88,175 (+2.8%) from 2022
Expenses
Up$1,379,599
Up $252,222 (+22%) from 2022
Net Income
Down$1,821,630
Down $164,047 (-8.3%) from 2022
Trend Graphs
Filings
Most recent year
2023 • Form 990Summary only. Only limited summary data is available for this year.
- Assets
- $12,243,911
- Liabilities
- $313,448
- Net assets
- $11,930,463
- Revenue
- $3,201,229
- Expenses
- $1,379,599
- Net income
- $1,821,630
Latest Detailed Filing
The latest 2023 filing currently has summary financial data only. Showing the latest detailed filing from 2022 below.
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2021 to Jun 30, 2022
- Signed
- May 9, 2023
- Return Version
- 2021v4.2
- Gross Receipts
- $3,113,054
Mission and Program Overview
Mission
Mmc residential corp. I, inc. Provides commercial rental space to montefiore medical center in furtherance of the medical center mission to heal, to teach, to discover and to advance the health of the communities it serves.
MMC RESIDENTIAL CORP. PROVIDES commercial space to MONTEFIORE MEDICAL CENTER in furtherance of the Medical center mission of advancing the health of the communities served.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Land, Buildings, and Equipment, Net | $2,003,342 | $1,835,789 | ▼ $167,553 |
| Cash and Non-Interest-Bearing Accounts | $0 | $0 | → $0 |
| Savings and Temporary Cash Investments | $0 | $0 | → $0 |
| Accounts Receivable | $0 | $0 | → $0 |
| Other Notes and Loans Receivable, Net | $0 | $0 | → $0 |
| Pledges and Grants Receivable | $0 | $0 | → $0 |
| Receivable From Disqualified Prsn | $0 | $0 | → $0 |
| Receivables From Officers Etc | $0 | $0 | → $0 |
| Investments Other Securities | $0 | $0 | → $0 |
| Investments Program Related | $0 | $0 | → $0 |
| Investments in Publicly Traded Securities | $0 | $0 | → $0 |
| Intangible Assets | $0 | $0 | → $0 |
| Inventories for Sale or Use | $0 | $0 | → $0 |
| Loans From Officers Directors | $0 | $0 | → $0 |
| Prepaid Expenses and Deferred Charges | $0 | $0 | → $0 |
| Total Assets | $8,405,676 | $10,358,508 | ▲ $1,952,832 |
| Other Assets Total | $6,402,334 | $8,522,719 | ▲ $2,120,385 |
| Liabilities | |||
| Accounts Payable and Accrued Expenses | $282,520 | $249,675 | ▼ $32,845 |
| Grants Payable | $0 | $0 | → $0 |
| Mortgage Notes Payable Secured by Investment Property | $0 | $0 | → $0 |
| Unsecured Notes Loans Payable | $0 | $0 | → $0 |
| Other Liabilities | $0 | $0 | → $0 |
| Deferred Revenue | $0 | $0 | → $0 |
| Escrow Account Liability | $0 | $0 | → $0 |
| Tax Exempt Bond Liabilities | $0 | $0 | → $0 |
| Total Liabilities | $282,520 | $249,675 | ▼ $32,845 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $8,123,156 | $10,108,833 | ▲ $1,985,677 |
| Net Assets With Donor Restrictions | $0 | $0 | → $0 |
| Total Net Assets Fund Balance | $8,123,156 | $10,108,833 | ▲ $1,985,677 |
| Total Liabilities and Net Assets / Fund Balance | $8,405,676 | $10,358,508 | ▲ $1,952,832 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Buildings | $1,548,147 | $5,685,583 | $7,233,730 |
| Other Land Buildings | $62,630 | $752,602 | $815,232 |
| Land | $225,000 | - | $225,000 |
| Equipment | $12 | $43,598 | $43,610 |
| Other Assets Org | $8,522,719 | - | - |
Compensation and Service Providers
Board Members and Trustees
| Name | Title |
|---|---|
| Edward Pfleging | President |
| Christopher S Panczner | Secretary |
| Evan Resnick | Treasurer (as of 12/7/2021) |
Highest Paid Contractors
| Contractor | Services | Location | Compensation |
|---|---|---|---|
| Securitas Security Services USA In | Security services | PO Box 403412, Atlanta, GA 30384-3412 | $287,242 |
| AA Maintenance Enterprise Inc | Cleaning Services | 965 Midland Avenue, Yonkers, NY 10704 | $166,623 |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $0
- Program Service Revenue
- $3,061,258
- Investment Income
- $0
- Other Revenue
- $51,796
- Change in Net Assets
- $1,985,677
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $797,964 |
| Salaries, Compensation, and Employee Benefits | $329,413 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Occupancy | - | - | - | $348,156 |
| Other Salaries and Wages | - | - | - | $250,130 |
| Depreciation Depletion | - | - | - | $185,126 |
| Office Expenses | - | - | - | $104,863 |
| Fees for Services Other | - | - | - | $92,217 |
| Other Employee Benefits | - | - | - | $79,283 |
| Fees for Services Management | - | - | - | $62,899 |
| Insurance | - | - | - | $4,703 |
| Total Functional Expenses | $0 | $0 | $0 | $1,127,377 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Fundraising Direct Expenses | $0 |
| Fundraising Gross Income | $0 |
| Gaming Direct Expenses | $0 |
| Gaming Gross Income | $0 |
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Subject to proxy tax
- No
Insider Transactions and Loans
Loans and Receivables
| Line Item | Beginning | End | Change |
|---|---|---|---|
| Loans from Officers, Directors, Trustees, and Key Employees | $0 | $0 | → $0 |
| Receivables from Disqualified Persons | $0 | $0 | → $0 |
| Receivables from Officers, Directors, Trustees, and Key Employees | $0 | $0 | → $0 |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- Yes
- Audit committee
- Yes
- Backup withholding compliance
- Yes
- Business relationship with 35% controlled entity
- No
- Business relationship with family members
- No
- Business relationship with organization members
- No
- Material changes to governing documents
- No
- Compensation from other sources disclosed
- No
- CEO compensation reviewed
- No
- Other officer compensation reviewed
- No
- Conflict-of-interest policy
- Yes
- Audited financial statements prepared
- Yes
- Key decisions subject to board approval
- Yes
- Management duties delegated
- No
Governance Explanations
Form 990, Part VI, Section A, Line 6
“THE SOLE MEMBER OF MMC RESIDENTIAL CORP. I, INC. IS MONTEFIORE MEDICAL Center a SECTION 501(C)(3) TAX-EXEMPT NEW YORK NOT-FOR-PROFIT Corporation.”
Form 990, Part VI, Section A, Line 7A
“The board of trustees of montefiore medical center, the sole member, has the authority to appoint the board of trustees of mmc residential corp. I, inc.”
Form 990, Part VI, Section A, Line 7B
“THE BOARD OF TRUSTEES OF MONTEFIORE MEDICAL CENTER, THE SOLE MEMBER OF THE ORGANIZATION, HAS THE AUTHORITY TO approve the operating and capital BUDGETS OF MMC Residential Corp. I, Inc.”
Form 990, Part VI, Section B, Line 11B
“THE FORM 990 WAS PREPARED BY THE FINANCE DEPARTMENT OF MONTEFIORE MEDICAL Center AND WAS REVIEWED AND APPROVED BY the VICE PRESIDENT - FINANCE. AN independent PUBLIC ACCOUNTING FIRM WAS ENGAGED TO REVIEW THE FORM 990. Upon completion OF THE VARIOUS REVIEWS, THE FINAL FORM 990 WAS PRESENTED TO THE Board OF TRUSTEES OF MMC RESIDENTAL CORP. I, INC. FOR APPROVAL PRIOR TO filing.”
Form 990, Part VI, Section B, Line 12C
“THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES compliance with THE CONFLICT OF INTEREST POLICY BY MEANS OF A SURVEY THAT WAS DEVELOPED by MONTEFIORE MEDICAL CENTER'S COUNSEL. THE MMC RESIDENTIAL CORP. I, INC.'S Board OF TRUSTEES ADOPTED THE POLICY OF MONTEFIORE MEDICAL CENTER, ITS SOLE member. THE POLICY STIPULATES THAT THE GENERAL APPROACH WHEN A POTENTIAL conflict ARISES IS TO DISCLOSE THE POSSIBLE CONFLICT TO THE COMPLIANCE Officer. THE COMPLIANCE OFFICER WILL MAKE EVERY EFFORT TO PROVIDE GUIDANCE TO permit RESOLUTION OF ANY ACTUAL OR POTENTIAL CONFLICTS OF INTEREST. THE Compliance OFFICER WILL TAKE THE APPROPRIATE ACTIONS, INCLUDING ADVISING MMC RESIDENTIAL CORP. I, INC.'S BOARD OF TRUSTEES REGARDING PARTICULAR CONFLICTS OF INTEREST.”
Form 990, Part VI, Section B, Lines 15A & 15B
“THE OFFICERS PRESENTED IN PART VII AND SCHEDULE J ARE EMPLOYED AND compensated by Montefiore Medicine Academic Health System, Inc. and not the filing organization. Montefiore Health System IS COMMITTED TO ENSURING THAT ITS EXECUTIVE COMPENSATION PROGRAM ADHERES TO THE HIGHEST STANDARDS OF REGULATORY COMPLIANCE AND BEST CORPORATE GOVERNANCE. THE BOARD OF TRUSTEES HAS CHARGED THE COMPENSATION COMMITTEE OF THE BOARD (WHICH IS COMPRISED OF INDEPENDENT BOARD MEMBERS WITH NO CONFLICTS OF INTEREST IN REGARDS TO EXECUTIVE COMPENSATION) WITH MAKING ALL DECISIONS RELATED TO COMPENSATION FOR ITS OFFICERS AND KEY EMPLOYEES. ALL DECISIONS MADE BY THE COMPENSATION COMMITTEE ARE APPROPRIATELY AND TIMELY DOCUMENTED IN MEETING MINUTES. THE COMPENSATION COMMITTEE'S REVIEW PROCESS FOLLOWS THE INTERMEDIATE SANCTIONS GUIDELINES FOR QUALIFYING FOR THE REBUTTABLE PRESUMPTION OF REASONABLENESS. THE COMMITTEE RETAINS AN INDEPENDENT COMPENSATION CONSULTANT TO ASSIST IT WITH THIS PROCESS. COMPENSATION LEVELS ARE ESTABLISHED CONSIDERING DATA FOR COMPARABLE ORGANIZATIONS, AN ASSESSMENT OF MANAGEMENT PERFORMANCE (INCLUDING THE SERVICES PROVIDED TO THE COMMUNITY), AND OTHER BUSINESS JUDGMENT FACTORS, CONSISTENT WITH MONTEFIORE'S EXECUTIVE COMPENSATION PHILOSOPHY. THE COMMITTEE'S DECISIONS ARE MADE IN THE BEST INTEREST OF MONTEFIORE, 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 OF TRUSTEES WITH A DESCRIPTION OF THE COMMITTEE'S REVIEW AND APPROVAL PROCESS AND ITS DECISIONS.”
Form 990, Part VI, Section C, Line 19
“THE CONFLICT OF INTEREST POLICY, GOVERNING DOCUMENTS AND FINANCIAL statements are MADE AVAILABLE TO THE PUBLIC UPON REQUEST.”
Filing and Contact Details
Filer
- Filer Name
- Mmc Residential Corp I Inc
- EIN
- 91-1943271
- In Care Of
- % EVAN RESNICK
- Phone
- 9143498474
- Address
- 3411 WAYNE AVENUE, BRONX, NY 10467-2401
Signing Officer
- Name
- Evan Resnick
- Title
- Treasurer
- Phone
- 9143498400
- Signed
- 2023-05-09
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Edward Pfleging
- Formed
- 1995
- Legal Domicile
- Ny
- Voting Board Members
- 3
- Independent Board Members
- 0
- Employees
- 3
- Volunteers
- 0
Preparer
- Firm
- Ernst & Young US Llp
- Address
- One Manhattan West, NEW YORK, NY 10001
- Preparer
- Nicole M Sokolowski
- Phone
- 2127733000
Supplemental Narrative
Additional Explanations
Form 990, Part IV, Line 12B
“THE FINANCIAL INFORMATION REPORTED IN THE FORM 990 IS FOR THE FISCAL YEAR beginning JULY 1, 2021 AND ENDED JUNE 30, 2022. THE FIRST SIX MONTHS (JULY through DECEMBER 2021) OF THE AMOUNTS REPORTED IN THIS RETURN WERE INCLUDED IN THE CONSOLIDATED AUDITED FINANCIAL STATEMENTS OF MONTEFIORE MEDICAL CENTER FOR THE YEAR ENDED DECEMBER 31, 2021. THE SECOND SIX MONTHS (JANUARY THROUGH JUNE 2022) WERE INCLUDED IN THE CONSOLIDATED AUDITED FINANCIAL STATEMENTS OF Montefiore MEDICAL CENTER FOR THE YEAR ENDED DECEMBER 31, 2022.”
Form 990, Part V, Line 2A
“ALL EMPLOYEES of the organization ARE PAID BY MONTEFIORE MEDICAL CENTER, EIN 13-1740114, THE COMMON PAYMASTER. MONTEFIORE MEDICAL CENTER ISSUES ALL W-2S and files all required federal employment tax returns. SALARIES ARE DIRECTLY allocated TO and reimbursed by the organization for its DESIGNATED EMPLOYEES.”
Raw XML AppendixShowing 400 of 1,144 raw XML fields
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
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| IRS990/AccountsPayableAccrExpnssGrp/EOYAmt | 0 | 249675 |
| IRS990/AccountsReceivableGrp/BOYAmt | 0 | 0 |
| IRS990/AccountsReceivableGrp/EOYAmt | 0 | 0 |
| IRS990/ActivitiesConductedPrtshpInd | 0 | false |
| IRS990/ActivityOrMissionDesc | 0 | MMC RESIDENTIAL CORP. PROVIDES commercial space to MONTEFIORE MEDICAL CENTER in furtherance of the Medical center mission of advancing the health of the communities served. |
| IRS990/AdvertisingGrp/TotalAmt | 0 | 0 |
| IRS990/AnnualDisclosureCoveredPrsnInd | 0 | true |
| IRS990/AuditCommitteeInd | 0 | true |
| IRS990/BackupWthldComplianceInd | 0 | true |
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| IRS990/BooksInCareOfDetail/USAddress/CityNm | 0 | TARRYTOWN |
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| IRS990/BooksInCareOfDetail/USAddress/ZIPCd | 0 | 105916301 |
| IRS990/BusinessRlnWith35CtrlEntInd | 0 | false |
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| IRS990/CompensationFromOtherSrcsInd | 0 | false |
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| IRS990/ConservationEasementsInd | 0 | false |
| IRS990/ConsolidatedAuditFinclStmtInd | 0 | true |
| IRS990/ContractorCompensationGrp/CompensationAmt | 0 | 287242 |
| IRS990/ContractorCompensationGrp/CompensationAmt | 1 | 166623 |
| IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt | 0 | PO Box 403412 |
| IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt | 1 | 965 Midland Avenue |
| IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm | 0 | ATLANTA |
| IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm | 1 | YONKERS |
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| IRS990/DelegationOfMgmtDutiesInd | 0 | false |
| IRS990/DepreciationDepletionGrp/TotalAmt | 0 | 185126 |
| IRS990/Desc | 0 | MMC RESIDENTIAL CORP. I, INC., a subsidiary of Montefiore Medical Center, OWNS AND OPERATES A RENTAL BUILDING NEAR MONTEFIORE MEDICAL CENTER. The building is rented out as housing and auxiliary space by the Medical Center in furtherance of its mission TO TEACH, TO DISCOVER AND TO ADVANCE THE HEALTH OF THE COMMUNITIES IT SERVES. |
| IRS990/DescribedInSection501c3Ind | 0 | false |
| IRS990/DisregardedEntityInd | 0 | false |
| IRS990/DocumentRetentionPolicyInd | 0 | true |
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| IRS990/DonorRstrOrQuasiEndowmentsInd | 0 | false |
| IRS990/ElectionOfBoardMembersInd | 0 | true |
| IRS990/EmployeeCnt | 0 | 3 |
| IRS990/EmploymentTaxReturnsFiledInd | 0 | true |
| IRS990/EscrowAccountLiabilityGrp/BOYAmt | 0 | 0 |
| IRS990/EscrowAccountLiabilityGrp/EOYAmt | 0 | 0 |
| IRS990/FamilyOrBusinessRlnInd | 0 | false |
| IRS990/FederalGrantAuditRequiredInd | 0 | false |
| IRS990/FeesForServicesAccountingGrp/TotalAmt | 0 | 0 |
| IRS990/FeesForServicesLegalGrp/TotalAmt | 0 | 0 |
| IRS990/FeesForServicesLobbyingGrp/TotalAmt | 0 | 0 |
| IRS990/FeesForServicesManagementGrp/TotalAmt | 0 | 62899 |
| IRS990/FeesForServicesOtherGrp/TotalAmt | 0 | 92217 |
| IRS990/FeesForServicesProfFundraising/TotalAmt | 0 | 0 |
| IRS990/FeesForSrvcInvstMgmntFeesGrp/TotalAmt | 0 | 0 |
| IRS990/ForeignActivitiesInd | 0 | false |
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| IRS990/ForeignGrantsGrp/TotalAmt | 0 | 0 |
| IRS990/ForeignOfficeInd | 0 | false |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt | 0 | 58.0 |
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| IRS990/Form990PartVIISectionAGrp/TitleTxt | 1 | SECRETARY |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 2 | TREASURER (AS OF 12/7/2021) |
| IRS990/Form990ProvidedToGvrnBodyInd | 0 | true |
| IRS990/FormationYr | 0 | 1995 |
| IRS990/FormerOfcrEmployeesListedInd | 0 | false |
| IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd | 0 | X |
| IRS990/FSAuditedInd | 0 | true |
| IRS990/FundraisingActivitiesInd | 0 | false |
| IRS990/FundraisingDirectExpensesAmt | 0 | 0 |
| IRS990/FundraisingGrossIncomeAmt | 0 | 0 |
| IRS990/GamingActivitiesInd | 0 | false |
| IRS990/GamingDirectExpensesAmt | 0 | 0 |
| IRS990/GamingGrossIncomeAmt | 0 | 0 |
| IRS990/GoverningBodyVotingMembersCnt | 0 | 3 |
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| IRS990/GrantsPayableGrp/EOYAmt | 0 | 0 |
| IRS990/GrantsToDomesticIndividualsGrp/TotalAmt | 0 | 0 |
| IRS990/GrantsToDomesticOrgsGrp/TotalAmt | 0 | 0 |
| IRS990/GrantsToIndividualsInd | 0 | false |
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| IRS990/GrantToRelatedPersonInd | 0 | false |
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| IRS990/GrossSalesOfInventoryAmt | 0 | 0 |
| IRS990/GroupReturnForAffiliatesInd | 0 | false |
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| IRS990/MissionDesc | 0 | MMC RESIDENTIAL CORP. I, INC. PROVIDES COMMERCIAL RENTAL SPACE TO MONTEFIORE MEDICAL CENTER IN FURTHERANCE OF THE MEDICAL CENTER MISSION TO HEAL, TO TEACH, TO DISCOVER AND TO ADVANCE THE HEALTH OF THE COMMUNITIES IT SERVES. |
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| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm | 1 | CHRISTOPHER S PANCZNER |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm | 2 | EVAN RESNICK |
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| IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt | 0 | As it related to compensation from Montefiore Medicine Academic Health System, Inc., a related entity of the organization: The Health System Compensation Committee reviews and approves all forms of compensation and benefits provided to each executive (except those generally provided to all management level employees) with the assistance of a national independent compensation consulting firm. The consulting firm assists the Compensation Committee with its decision-making process to ensure executive compensation levels are reasonable and appropriate relative to those of other similar organizations. Base salaries in Column B(i) are determined based on competitive market practices for comparable positions with similar size organizations and scope of responsibilities. Bonus and incentive compensation in Column B(ii) is based on the achievement of performance goals. The executives' compensation program has a significant pay-at-risk component to ensure the alignment of pay and organizational performance. Goals are set in advance in areas such as quality of care, patient satisfaction, community services and financial performance. Compensation is at risk if the goals established by the Compensation Committee are not met. In a manner designed to qualify for the "rebuttable presumption of reasonableness" the Compensation Committee of the Board of Trustees expressly reviewed and approved these retirement benefit arrangements for senior executives in a manner that qualified under the intermediate sanctions rules of the Federal tax law, and in recognition of (a) the executives' years of service to the organization and (b) the significant contributions to enhancing the ability of the organization to achieve its charitable mission in a manner consistent with financial solvency. Accordingly, this benefit should be viewed as applying to years of service for the organization. POOLED SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN DISTRIBUTIONs based on multiple years of service to the Health System and paid out in 2021 as taxable income: Christopher Panczner - $318,597. The Health System also funds a second defined contribution SERP plan. An officer of the organization currently participates in this plan. Contributions are at a fixed percentage of base salary or total cash compensation (base salary plus annual incentive award). A notional balance is developed for each participant that is the total of contributions less distributions (interest is not accrued). On January 1 following the third, sixth and ninth anniversaries of each participant's participation date, 50% of the remaining SERP account becomes vested and is paid out if the participant is employed on that date. On January 1 following the twelfth anniversary of each participant's participation date, the remainder of the SERP account becomes fully vested and is paid out. If a participant reaches age 65 before their twelfth anniversary of their participation date, their SERP account balance will become fully vested on the later of the first of the month following their 65th birthday or the third anniversary of their participation date. SERP account balances will also become fully vested upon the earliest of death or disability while employed by Montefiore, involuntary termination without cause or if Montefiore chooses to terminate the plan. In calendar year 2021, the participating officer was paid a taxable distribution from the plan included in his column B(iii) Other compensation: Edward Pfleging - $282,272. |
| IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt | 1 | The officers listed in Part II are not employees of THIS FILING organization. All officers of MMC Residential Corp. I, Inc. are employed and compensated by Montefiore Medicine Academic Health System, Inc., the parent company of Montefiore Health System. |
| IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Part I, Line 4B & Part II, Column (C) |
| IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Part II - Compensation from related organization |
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| IRS990/ScheduleORequiredInd | 0 | true |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | THE FINANCIAL INFORMATION REPORTED IN THE FORM 990 IS FOR THE FISCAL YEAR beginning JULY 1, 2021 AND ENDED JUNE 30, 2022. THE FIRST SIX MONTHS (JULY through DECEMBER 2021) OF THE AMOUNTS REPORTED IN THIS RETURN WERE INCLUDED IN THE CONSOLIDATED AUDITED FINANCIAL STATEMENTS OF MONTEFIORE MEDICAL CENTER FOR THE YEAR ENDED DECEMBER 31, 2021. THE SECOND SIX MONTHS (JANUARY THROUGH JUNE 2022) WERE INCLUDED IN THE CONSOLIDATED AUDITED FINANCIAL STATEMENTS OF Montefiore MEDICAL CENTER FOR THE YEAR ENDED DECEMBER 31, 2022. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | ALL EMPLOYEES of the organization ARE PAID BY MONTEFIORE MEDICAL CENTER, EIN 13-1740114, THE COMMON PAYMASTER. MONTEFIORE MEDICAL CENTER ISSUES ALL W-2S and files all required federal employment tax returns. SALARIES ARE DIRECTLY allocated TO and reimbursed by the organization for its DESIGNATED EMPLOYEES. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | THE SOLE MEMBER OF MMC RESIDENTIAL CORP. I, INC. IS MONTEFIORE MEDICAL Center a SECTION 501(C)(3) TAX-EXEMPT NEW YORK NOT-FOR-PROFIT Corporation. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | THE BOARD OF TRUSTEES OF MONTEFIORE MEDICAL CENTER, THE SOLE MEMBER, HAS THE AUTHORITY TO APPOINT THE BOARD OF TRUSTEES OF MMC RESIDENTIAL CORP. I, INC. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | THE BOARD OF TRUSTEES OF MONTEFIORE MEDICAL CENTER, THE SOLE MEMBER OF THE ORGANIZATION, HAS THE AUTHORITY TO approve the operating and capital BUDGETS OF MMC Residential Corp. I, Inc. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | THE FORM 990 WAS PREPARED BY THE FINANCE DEPARTMENT OF MONTEFIORE MEDICAL Center AND WAS REVIEWED AND APPROVED BY the VICE PRESIDENT - FINANCE. AN independent PUBLIC ACCOUNTING FIRM WAS ENGAGED TO REVIEW THE FORM 990. Upon completion OF THE VARIOUS REVIEWS, THE FINAL FORM 990 WAS PRESENTED TO THE Board OF TRUSTEES OF MMC RESIDENTAL CORP. I, INC. FOR APPROVAL PRIOR TO filing. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES compliance with THE CONFLICT OF INTEREST POLICY BY MEANS OF A SURVEY THAT WAS DEVELOPED by MONTEFIORE MEDICAL CENTER'S COUNSEL. THE MMC RESIDENTIAL CORP. I, INC.'S Board OF TRUSTEES ADOPTED THE POLICY OF MONTEFIORE MEDICAL CENTER, ITS SOLE member. THE POLICY STIPULATES THAT THE GENERAL APPROACH WHEN A POTENTIAL conflict ARISES IS TO DISCLOSE THE POSSIBLE CONFLICT TO THE COMPLIANCE Officer. THE COMPLIANCE OFFICER WILL MAKE EVERY EFFORT TO PROVIDE GUIDANCE TO permit RESOLUTION OF ANY ACTUAL OR POTENTIAL CONFLICTS OF INTEREST. THE Compliance OFFICER WILL TAKE THE APPROPRIATE ACTIONS, INCLUDING ADVISING MMC RESIDENTIAL CORP. I, INC.'S BOARD OF TRUSTEES REGARDING PARTICULAR CONFLICTS OF INTEREST. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 7 | THE OFFICERS PRESENTED IN PART VII AND SCHEDULE J ARE EMPLOYED AND compensated by Montefiore Medicine Academic Health System, Inc. and not the filing organization. Montefiore Health System IS COMMITTED TO ENSURING THAT ITS EXECUTIVE COMPENSATION PROGRAM ADHERES TO THE HIGHEST STANDARDS OF REGULATORY COMPLIANCE AND BEST CORPORATE GOVERNANCE. THE BOARD OF TRUSTEES HAS CHARGED THE COMPENSATION COMMITTEE OF THE BOARD (WHICH IS COMPRISED OF INDEPENDENT BOARD MEMBERS WITH NO CONFLICTS OF INTEREST IN REGARDS TO EXECUTIVE COMPENSATION) WITH MAKING ALL DECISIONS RELATED TO COMPENSATION FOR ITS OFFICERS AND KEY EMPLOYEES. ALL DECISIONS MADE BY THE COMPENSATION COMMITTEE ARE APPROPRIATELY AND TIMELY DOCUMENTED IN MEETING MINUTES. THE COMPENSATION COMMITTEE'S REVIEW PROCESS FOLLOWS THE INTERMEDIATE SANCTIONS GUIDELINES FOR QUALIFYING FOR THE REBUTTABLE PRESUMPTION OF REASONABLENESS. THE COMMITTEE RETAINS AN INDEPENDENT COMPENSATION CONSULTANT TO ASSIST IT WITH THIS PROCESS. COMPENSATION LEVELS ARE ESTABLISHED CONSIDERING DATA FOR COMPARABLE ORGANIZATIONS, AN ASSESSMENT OF MANAGEMENT PERFORMANCE (INCLUDING THE SERVICES PROVIDED TO THE COMMUNITY), AND OTHER BUSINESS JUDGMENT FACTORS, CONSISTENT WITH MONTEFIORE'S EXECUTIVE COMPENSATION PHILOSOPHY. THE COMMITTEE'S DECISIONS ARE MADE IN THE BEST INTEREST OF MONTEFIORE, 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 OF TRUSTEES WITH A DESCRIPTION OF THE COMMITTEE'S REVIEW AND APPROVAL PROCESS AND ITS DECISIONS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 8 | THE CONFLICT OF INTEREST POLICY, GOVERNING DOCUMENTS AND FINANCIAL statements are MADE AVAILABLE TO THE PUBLIC UPON REQUEST. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Form 990, Part IV, Line 12B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Form 990, Part V, Line 2A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | Form 990, Part VI, Section A, Line 6 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | Form 990, Part VI, Section A, Line 7A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | Form 990, Part VI, Section A, Line 7B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | Form 990, Part VI, Section B, Line 11B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 6 | Form 990, Part VI, Section B, Line 12C |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 7 | Form 990, Part VI, Section B, Lines 15a & 15b |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 8 | Form 990, Part VI, Section C, Line 19 |
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| IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd | 12 | true |
| IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd | 13 | true |
| IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd | 14 | true |
| IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd | 15 | true |
| IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd | 16 | true |
| IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd | 17 | true |
| IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd | 18 | true |
| IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd | 19 | true |
| IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd | 20 | true |
| IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd | 21 | true |
| IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd | 22 | true |
| IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd | 23 | true |
| IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd | 24 | true |
| IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd | 25 | true |
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