2022-11-11T10:12:27-06:00 2021-12-31 ERNST & YOUNG US LLP 111 MONUMENT CIRCLE INDIANAPOLIS IN 46204 990 2021-01-01 131924236 Memorial Sloan-Kettering Cancer Center % MARK K SVENNINGSON MEMO 6462273092 1275 YORK AVENUE NEW YORK NY 100656007 MARK K SVENNINGSON SVP FINANCE 6462273092 2022-11-10 true MARK K SVENNINGSON 999009999 JENNIFER D RHODERICK P00395735 3176817000 2 2021 2022-09-23 18:48:47Z SELWYN M VICKERS MD 1275 YORK AVENUE NEW YORK NY 100656007 2103389743 false 3475 X WWW.MSKCC.ORG X 1960 NY LEADERSHIP IN THE PREVENTION, TREATMENT, AND CURE OF CANCER THROUGH EXCELLENCE, VISION, AND COST EFFECTIVENESS IN PATIENT CARE, OUTREACH PROGRAMS, RESEARCH, AND EDUCATION 31 30 29732 262 7147496 42290773 257200000 897928000 1053813000 132556000 210943000 39249001 29465000 1112023774 1551421000 0 0 0 0 585073238 686762230 0 0 71894554 546406536 570218420 1131479774 1256980650 -19456000 294440350 6797163000 8128780000 3643290000 3959968000 3153873000 4168812000 X MEMORIAL SLOAN-KETTERING CANCER CENTER IS DEDICATED TO THIS MISSION: LEADERSHIP IN THE PREVENTION, TREATMENT, AND CURE OF CANCER THROUGH EXCELLENCE, VISION, AND COST-EFFECTIVENESS IN PATIENT CARE, OUTREACH PROGRAMS, RESEARCH, AND EDUCATION. false false 1094895570 0 1050200000 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. 19845312 0 18527000 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. EXPENSES REVENUE CAFETERIA $ 4,362,921 $ 3,613,000 SOCIETY $ 2,624,067 $ 0 PCCTC $12,858,324 $14,914,000 TOTAL $19,845,312 $18,527,000 12116760 0 0 MSKCC PAYS FEES TO CORNELL MEDICAL CENTER AND OTHER MEDICAL INSTITUTIONS FOR STAFF TO FURTHER THEIR SCIENTIFIC EDUCATION. IN ADDITION, THE CENTER HOSTS A NUMBER OF SYMPOSIUMS, SOME OF WHICH ARE OPEN TO THE PUBLIC. 0 0 0 1126857642 true true false true false false false false false true true true false false true false false true false true true false false false false false false false false true true false false false false false false false false false false true false false false true true true true false false true 1329 0 true 29732 true true true false false false false false false false false false true false X 31 30 true false false false false false false true true false false false true true true true true true true true true AL AK AZ AR CA CO CT DE DC FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA PR RI SC SD TN TX UT VT VA WA WV WI WY X X MARK K SVENNINGSON 6462273414 633 THIRD AVENUE New York NY 10017 X CRAIG P THOMPSON MD BOARD MBR, PRESIDENT & CEO 50.0 0.0 X X 2684526 0 280957 JASON KLEIN SVP & CHIEF INVESTMENT OFFICER 50.0 0.0 X 2731258 0 87025 KATHRYN MARTIN EVP & COO 50.0 0.0 X 1760489 0 85572 MICHAEL HARRINGTON evp & CFO 50.0 0.0 X 1774641 0 63339 PHILIP KANTOFF VISITING INVESTIGATOR 50.0 0.0 X 1484778 0 47755 JORGE LOPEZ ESQ EVP & GENERAL COUNCEL 50.0 0.0 X 1307132 0 80359 KERRY BESSEY SVP & CHIEF HR OFFICER 50.0 0.0 X 1260979 0 81357 KENNETH MANOTTI SVP DEVELOPMENT 50.0 0.0 X 1250637 0 67241 GREGORY RASKIN VP, TECHNOLOGY DEVELOPMENT 50.0 0.0 X 1142149 0 74487 ROXANNE TAYLOR CHIEF MARKET & COMM. OFFICER 50.0 0.0 X 1149642 0 38174 WENDY PERCHICK SVP STRATEGIC PLANNING & INNOV 50.0 0.0 X 1018805 0 70069 DEBRA BERNS ESQ SVP & CHIEF RISK OFFICER 50.0 0.0 X 987455 0 48303 ERIC M COTTINGTON PHD SVP, RESEARCH & TECH MGMT 50.0 0.0 X 950138 0 73969 LARRY NORTON SVP OFFICE OF THE PRESIDE/CEO 50.0 0.0 X 939686 0 81451 ATEFEH RIAZI CHIEF INFORMATION OFFICER 50.0 0.0 X 968348 0 34436 MARK SVENNINGSON SVP FINANCE 50.0 0.0 X 850147 0 73017 EDWARD MAHONEY SVP, FACILITIES MGMT & CONST 50.0 0.0 X 837621 0 49785 CLAUS JENSEN EVP & CHIEF DIGITAL OFFICER 50.0 0.0 X 688368 0 43434 CAROLYN LEVINE ESQ DEPUTY GEN COUNSEL CORP SECTY 50.0 0.0 X 541368 0 58986 PATRICIA C SKARULIS FORMER SVP CIO until 12/2019 0.0 0.0 X 377770 0 6521 AVICE MEEHAN FORMER SVP CCO until 5/2019 0.0 0.0 X 198979 0 11714 RICHARD I BEATTIE BOARD MEMBER 1.0 0.0 X 0 0 0 IAN COOK BOARD MEMBER 1.0 0.0 X 0 0 0 STANLEY F DRUCKENMILLER BOARD MEMBER 1.0 0.0 X 0 0 0 ANTHONY B EVNIN BOARD MEMBER 1.0 0.0 X 0 0 0 ROGER W FERGUSON BOARD MEMBER 1.0 0.0 X 0 0 0 WILLIAM E FORD BOARD MEMBER 1.0 0.0 X 0 0 0 RICHARD N FOSTER BOARD MEMBER 1.0 0.0 X 0 0 0 STEPHEN FRIEDMAN BOARD MEMBER 1.0 0.0 X 0 0 0 ELLEN V FUTTER BOARD MEMBER 1.0 0.0 X 0 0 0 LOUIS V GERSTNER JR BOARD MEMBER 1.0 0.0 X 0 0 0 JONATHAN N GRAYER BOARD MEMBER 1.0 0.0 X 0 0 0 BENJAMIN W HEINEMAN JR BOARD MEMBER 1.0 0.0 X 0 0 0 MARIE-JOSEE KRAVIS VICE CHAIR OF THE BOARD 2.0 0.0 X 0 0 0 JAMIE C NICHOLLS VICE CHAIR OF THE BOARD 2.0 0.0 X 0 0 0 JAMES G NIVEN BOARD MEMBER 1.0 0.0 X 0 0 0 BRUCE C RATNER BOARD MEMBER 1.0 0.0 X 0 0 0 ALEXANDER T ROBERTSON BOARD MEMBER 1.0 0.0 X 0 0 0 JAMES D ROBINSON III BOARD MEMBER 1.0 0.0 X 0 0 0 VIRGINIA M ROMETTY BOARD MEMBER 1.0 0.0 X 0 0 0 PETER J SOLOMON BOARD MEMBER 1.0 0.0 X 0 0 0 JOHN R STRANGFELD BOARD MEMBER 1.0 0.0 X 0 0 0 PETER A WEINBERG BOARD MEMBER & SECRETARY 2.0 0.0 X 0 0 0 SCOTT M STUART CHAIR OF THE BOARD 2.0 0.0 X 0 0 0 CLIFTON S ROBBINS BOARD MEMBER & TREASURER 2.0 0.0 X X 0 0 0 DOUGLAS A WARNER III HONORARY CHAIR OF THE BOARD 2.0 0.0 X X 0 0 0 HENRY A FERNANDEZ BOARD MEMBER 1.0 0.0 X 0 0 0 ALAN D SCHNITZER BOARD MEMBER 1.0 0.0 X 0 0 0 WILLIAM HELMAN BOARD MEMBER 1.0 0.0 X 0 0 0 MARGARET KEANE BOARD MEMBER 1.0 0.0 X 0 0 0 STEPHEN C SHERRILL BOARD MEMBER 1.0 0.0 X 0 0 0 24904916 0 1457951 1861 true true false TURNER CONSTRUCTION 375 HUDSON STREET NEW YORK NY 10014 GENERAL CONSTRUCTION 31623606 ACCENTURE LLP 1345 AVENUE OF THE AMERICAS NEW YORK NY 10105 CONSULTING 10486074 JGN CONSTRUCTION CORP 66-40 69TH STREET MIDDLE VILLAGE NY 11379 GENERAL CONSTRUCTION 10146701 LEND LEASE US CONSTRUCTION 200 PARK AVENUE NEW YORK NY 10166 GENERAL CONSTRUCTION 8221785 MICHAEL ANTHONY CONTRACTING 161 RAILROAD AVENUE NEW HYDE PARK NY 11040 GENERAL CONSTRUCTION 5129938 161 257200000 1726828 257200000 SERVICES PROVIDED SEE NOTE A & ATTACH.1 IN SCH O 900099 1050200000 1050200000 CAFETERIA 721000 3613000 3613000 1053813000 10111000 7147496 2963504 0 30000 30000 0 0 0 752800743 551968743 200832000 200832000 200832000 0 0 0 0 0 0 0 0 0 RESEARCH EXPENSE RECOVERY 711110 14914000 14914000 GIFT SHOP INCOME 811000 1542000 1542000 VENDOR DISCOUNT 900099 1012000 1012000 11967000 11967000 29435000 1551421000 1068727000 7147496 218346504 0 0 0 0 19905919 14773817 3762293 1369809 594984 488023 106000 961 507372455 466915672 10535293 29921490 38878093 35520634 1608793 1748666 83118001 77329922 14176 5773903 36892778 33706768 1510126 1675884 0 13374098 12717901 652771 3426 1138833 1119936 18208 689 540244 540244 0 9337887 9337887 64342581 50873266 6062472 7406843 34652604 32619027 0 2033577 155445613 129297230 9520758 16627625 91265211 89636234 415120 1213857 0 29449596 28672368 656777 120451 224401 195699 1628 27074 0 1884023 1808466 21859 53698 18207554 6123398 12084156 0 93050695 92431130 132458 487107 2578567 2419944 24678 133945 NET REQUISITIONED SERVICES 34709868 29710014 1709190 3290664 MED/SURG SUPPLIES 6662833 6659907 2424 502 UBIT EXPENSE 50576 50576 PHARMACEUTICALS 444913 439719 811 4383 12858323 13297950 1256980650 1126857642 58228454 71894554 X 15573219 5642489 9930730 329227000 155009000 818066000 1040648000 70767000 168331000 145070000 0 0 0 0 0 47269000 55117000 624000 3248000 141356000 327165000 1529154000 770263000 609800000 758891000 3186062000 3652595000 1448922000 1967776000 0 0 0 0 0 0 6797163000 8128780000 509931000 568953000 0 0 0 0 1615976000 1651455000 0 0 0 0 0 0 1381956000 1350000000 135427000 389560000 3643290000 3959968000 X 2829703000 3726253000 324170000 442559000 3153873000 4168812000 6797163000 8128780000 X 294440350 498992000 221506650 X X false true X true true true X 34535000 169497434 31560247 42290773 257200000 535083454 0 0 34535000 169497434 31560247 42290773 257200000 535083454 150754520 384328934 47403556 90780000 70401294 34044000 10141000 252769850 0 0 787853304 3073395227 0.48782 0.43003 X PART I, LINE 3 THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT MEMORIAL SLOAN-KETTERING CANCER CENTER QUALIFIES AS A PUBLIC CHARITY UNDER SECTION 170 (B) (1) (A) (iii). HOWEVER, SINCE IT DOES NOT OPERATE A HOSPITAL, IT IS NOT REQUIRED TO COMPLETE SCHEDULE H. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 540244 935326 540244 935326 1256440406 6143421674 1256980650 6144357000 1000000 1000000 250000 250000 1000000 1000000 1000000 1000000 4000000 6000000 872735 921757 675588 540244 3010324 250000 250000 250000 250000 1000000 1500000 PART II-A LOBBYING ACTIVITIES PERFORMED BY BOTH MEMORIAL SLOAN-KETTERING CANCER CENTER (EIN 13-1924236) AND MEMORIAL HOSPITAL (EIN 13-1624082). LOBBYING EXPENDITURES ARE REPORTED ON THE STATEMENT OF FUNCTIONAL EXPENSE LINE 11d. THE CENTER HAS MADE THE 501(h) ELECTION. OUR AFFILIATED ORGANIZATIONS ARE IDENTIFIED BELOW. ALL AFFILIATES USE THE CORPORATE ADDRESS 1275 YORK AVENUE, NEW YORK, N.Y. 10065-6007. MEMORIAL HOSPITAL FOR CANCER AND ALLIED DISEASES (13-1624082), SLOAN-KETTERING INSTITUTE FOR CANCER RESEARCH (13-1624182), SKI REALTY, INC. (13-3389586), LOUIS V. GERSTNER JR., GRADUATE SCHOOL (20-2212588), MSK. INSURANCE U.S., INC. (83-0363317), AND MSKCC PROTON INC., (35-2397819). 397079000 7845000 934000 405858000 396451000 636000 -8000 397079000 385622000 10435000 394000 396451000 250120000 139261000 -3759000 385622000 217145357 20320000 12654643 250120000 0.45780 0.54220 false false 0 341952000 107743000 234209000 23435000 19748000 3687000 866362000 627675000 238687000 297405000 15097000 282308000 758891000 PRIVATE EQUITY & VENTURE CAP 1967776000 F 1967776000 0 PENSION AND POSTRETIREMENT 46437000 DEFERRED GIFT ANNUITY 16442000 ASSET RETIREMENT OBLIGATION 3156000 CAPTIVE INSURANCE LOAN AGREEME 71799000 ACCRUED SICK PAY 567000 NET INTERCORPORATE LIABILITY 225306000 OTHER LIABILITIES 25853000 389560000 2022997000 498992000 498992000 1524005000 27416000 27416000 1551421000 1229564650 1229564650 27416000 27416000 1256980650 INTENDED USE OF ENDOWMENT FUNDS PERMANENT ENDOWMENT FUNDS ARE HELD BY THE ORGANIZATION IN PERPETUITY. INCOME EARNED ON THE FUND BALANCE IS USED TO SUPPORT THE OPERATIONS OF MEMORIAL SLOAN-KETTERING CANCER CENTER. FIN 48 LIABILITY FOR UNCERTAIN TAX POSITIONS A FIN 48 FOOTNOTE DISCLOSURE, RELATING TO THE ACCOUNTING FOR INCOME TAXES, WAS NOT REQUIRED BECAUSE THERE WAS NO MATERIAL IMPACT ON THE INSTITUTION'S FINANCIAL STATEMENTS. Europe (Including Iceland and Greenland) 0 5 Program Services ADMIN SUPPORT 1072673 Middle East and North Africa 0 1 Program Services ADMIN SUPPORT 204387 Central America and the Caribbean 0 0 Investments 3148653396 Sub-Saharan Africa 0 0 Investments 63436653 Europe (Including Iceland and Greenland) 0 0 Investments 21094339 0 6 0 6 3234461448 3234461448 true false true true true false SCHEDULE F, PART I , LINE 3, COLUMN f VALUES SHOWN IN COLUMN F ARE THE MARKET VALUES FOR THE INVESTMENTS AT DECEMBER 31. X X true true X X X X X true true false false false false false true true true KATHRYN MARTIN EVP & COO 1427165 0 287106 0 46218 0 39200 0 46372 0 1846061 0 16500 0 CRAIG P THOMPSON MD BOARD MBR, PRESIDENT & CEO 1791351 0 360000 0 533175 0 39200 0 241757 0 2965483 0 16500 0 JASON KLEIN SVP & CHIEF INVESTMENT OFFICER 976596 0 594840 0 1159822 0 39200 0 47825 0 2818283 0 16500 0 MICHAEL HARRINGTON evp & CFO 1436288 0 288400 0 49953 0 31200 0 32139 0 1837980 0 8250 0 KERRY BESSEY SVP & CHIEF HR OFFICER 703818 0 510773 0 46388 0 39200 0 42157 0 1342336 0 16500 0 JORGE LOPEZ ESQ EVP & GENERAL COUNCEL 950745 0 337089 0 19298 0 31200 0 49159 0 1387491 0 8250 0 KENNETH MANOTTI SVP DEVELOPMENT 892932 0 315620 0 42085 0 31200 0 36041 0 1317878 0 8250 0 EDWARD MAHONEY SVP, FACILITIES MGMT & CONST 564736 0 244312 0 28573 0 27089 0 22696 0 887406 0 16500 0 ERIC M COTTINGTON PHD SVP, RESEARCH & TECH MGMT 636930 0 261209 0 51999 0 38364 0 35605 0 1024107 0 32500 0 PATRICIA C SKARULIS FORMER SVP CIO until 12/2019 0 0 0 0 377770 0 0 0 6521 0 384291 0 0 0 CLAUS JENSEN EVP & CHIEF DIGITAL OFFICER 390333 0 288400 0 9635 0 26923 0 16511 0 731802 0 8250 0 DEBRA BERNS ESQ SVP & CHIEF RISK OFFICER 712890 0 261000 0 13565 0 31200 0 17103 0 1035758 0 8250 0 GREGORY RASKIN VP, TECHNOLOGY DEVELOPMENT 580704 0 491750 0 69695 0 31200 0 43287 0 1216636 0 8250 0 MARK SVENNINGSON SVP FINANCE 689445 0 126002 0 34700 0 39200 0 33817 0 923164 0 16500 0 WENDY PERCHICK SVP STRATEGIC PLANNING & INNOV 673377 0 305024 0 40404 0 39200 0 30869 0 1088874 0 16500 0 LARRY NORTON SVP OFFICE OF THE PRESIDE/CEO 899226 0 0 0 40460 0 31200 0 50251 0 1021137 0 8250 0 CAROLYN LEVINE ESQ DEPUTY GEN COUNSEL CORP SECTY 439477 0 89116 0 12775 0 30980 0 28006 0 600354 0 7880 0 AVICE MEEHAN FORMER SVP CCO until 5/2019 0 0 0 0 198979 0 0 0 11714 0 210693 0 0 0 PHILIP KANTOFF VISITING INVESTIGATOR 731532 0 0 0 753246 0 31200 0 16555 0 1532533 0 8250 0 ATEFEH RIAZI CHIEF INFORMATION OFFICER 759598 0 200000 0 8750 0 16700 0 17736 0 1002784 0 8250 0 ROXANNE TAYLOR CHIEF MARKET & COMM. OFFICER 750009 0 375000 0 24633 0 31200 0 6974 0 1187816 0 8250 0 SUPPLEMENTAL COMPENSATION INFORMATION SCHEDULE J, PART I LINE 1A - BUSINESS OR FIRST-CLASS TRAVEL IS ALLOWED FOR FLIGHTS GREATER THAN SIX CONTINUOUS HOURS FOR ANY EMPLOYEE NOT FUNDED BY FEDERAL GRANTS. EXCEPTIONS TO THE SIX HOUR RULE ARE REVIEWED ON AN INDIVIDUAL BASIS. ALL TRAVEL MUST BE APPROVED BEFORE ANY ARRANGEMENTS ARE MADE. MSKCC HAS AN ACCOUNTABLE TRAVEL POLICY AND THEREFORE, DOES NOT INCLUDE TRAVEL AS TAXABLE COMPENSATION. THE DUTIES TO BE PERFORMED BY OUR PRESIDENT REQUIRE HIM TO BE ON CALL AND TO PERFORM DUTIES AS AND WHEN APPROPRIATE DURING HIS OFF-DUTY PERIODS AS WELL AS DURING NORMAL OFFICE HOURS. AN EMPLOYMENT CONTRACT REQUIRES OUR PRESIDENT TO LIVE IN THE OFFICIAL RESIDENCE OWNED AND MAINTAINED BY THE INSTITUTION. THE CONTRACT REQUIRES OUR PRESIDENT TO USE THE RESIDENCE FOR INSTITUTIONAL PURPOSES, INCLUDING, BUT NOT LIMITED TO, MEETINGS WITH STAFF, DONORS AND POTENTIAL DONORS, VISITING PROFESSORS AND SCIENTISTS, AND OTHER PERSONS INVOLVED WITH THE AFFAIRS OF THE INSTITUTION, CONFIDENTIAL INTERVIEWS WITH MEMBERS AND PROSPECTIVE MEMBERS OF THE STAFF; AND FOR OTHER INSTITUTIONAL ACTIVITIES CONDUCTED DURING AND OUTSIDE OF NORMAL OFFICE HOURS. THE COST IS REPORTED AS COMPENSATION ON FORM 990 AND IS EXCLUDED FROM TAXABLE COMPENSATION IN ACCORDANCE WITH CODE SECTION 119. SCHEDULE J, PART I LINE 4A - INCLUDED IN FORM 990 IS SEVERANCE PAY FOR AVICE MEEHAN, SVP & CHIEF COMMUNICATION OFFICER, OF $201,688, TERMINATED IN MAY 2019 AND PATRICIA SKARULIS, SVP & CHIEF INFORMATION OFFICER, OF $379,001, TERMINATED IN DECEMBER 2019. LINE 4B - JASON KLEIN WAS PAID $1,073,126 AS PART OF A DEFERRED COMPENSATION AGREEMENT. LINE 7 - INCENTIVE PAY IS PROVIDED TO OFFICERS AND KEY EMPLOYEES BASED ON THEIR ACHIEVEMENT OF PRE-DETERMINED GOALS RELATING TO QUALITY OF CARE, PATIENT SAFETY, OPERATIONAL EFFICIENCY AND FINANCIAL PERFORMANCE. THE COMPENSATION COMMITTEE OF THE BOARD AUTHORIZES ALL EXECUTIVE BONUSES AND INCENTIVE PLANS ON AN ANNUAL BASIS. IN ADDITION, AS WELL AS AN OVERALL AUTHORIZATION AND APPROVAL FOR KEY EMPLOYEES AND OTHER MANAGEMENT INCLUDING PROFESSIONAL AND OTHER STAFF BY SETTING THE BONUS POOL IN CONJUNCTION WITH THE INPUT FROM HUMAN RESOURCES. STAFF BONUSES ARE IMPACTED BY ANNUAL MERIT REVIEW PROCESS. LINE 8 - AN EMPLOYMENT CONTRACT WAS ENTERED INTO AND SIGNED PRIOR TO EMPLOYMENT. A DORMITORY AUTHORITY OF THE STATE OF NEW YORK 146000293 6499063Z7 2013-06-28 80000000 SEE PART VI false false false B DORMITORY AUTHORITY OF THE STATE OF NEW YORK 146000293 000000000 2016-04-28 110000000 SEE PART VI false false false C DORMITORY AUTHORITY OF THE STATE OF NEW YORK 146000293 000000000 2016-09-09 145000000 SEE PART VI false false false D NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY 222045817 000000000 2017-12-20 335567386 SEE PART VI false false false A 66000000 0 80000000 0 0 0 0 0 0 0 80000000 0 2013 true false true true B 18702374 0 110239999 0 0 0 155282 0 0 110009717 75000 0 2017 false false true true C 76125000 0 145000000 0 0 0 72861 0 0 144627139 300000 0 2018 false false true true D 11550000 0 339194534 0 0 0 2262236 0 0 245499309 91432989 0 2019 true false true true A false false false true false 0.00000 0.00000 0.00000 false false 0.00000 false true B false false false true false 0.00000 0.00000 0.00000 false false 0.00000 false true C false false false true false 0.00000 0.00000 0.00000 false false 0.00000 false true D false false false true false 0.00000 0.00000 0.00000 false 0.00000 true A false false false true false false 0 false 0 false true B false false false true false false 0 false 0 false true C false false false true false false 0 false 0 false true D false true false false false false 0 false 0 false true A true B true C true D true PART I, COLUMN (F) DESCRIPTION OF PURPOSE 2013 SERIES BONDS (DASNY)- CUSIP #6499063Z7: 2013 SERIES BONDS WERE USED TO CURRENT REFUND THE 2010 SERIES BONDS ISSUED 9/2/2010. 2016 SERIES BONDS (DASNY) - CUSIP #000000000: 2016 SERIES BONDS WERE USED TO CONSTRUCT/RENOVATE AND UPGRADE AND EQUIP VARIOUS FACILITIES. 2016 SERIES BONDS (NJEDA) - CUSIP #000000000: 2016 SERIES BONDS WERE USED TO CONSTRUCT AND EQUIP VARIOUS FACILITIES. 2017 SERIES BONDS (DASNY)- CUSIP #000000000: 2017 SERIES BONDS WERE USED TO CURRENT REFUND THE 2015 SERIES BONDS ISSUED JULY 16, 2015 AND CONSTRUCT VARIOUS FACILITIES. 2019 SERIES BONDS (DASNY) - CUSIP #64990GVG4: 2019 SERIES BONDS WERE USED TO REIMBURSE EXPENDITURES INCURRED TO CONSTRUCT A PATIENT CARE FACILITY. PART II LINE 3 - THE AMOUNT OF PROCEEDS ON PART II LINE 3 IS DIFFERENT FROM PART I COLUMN (E) BECAUSE PART II LINE 3 INCLUDES INVESTMENT INCOME AND GAINS/LOSSES. PART III LINE 3(D) - ANY MANAGEMENT CONTRACTS AND RESEARCH AGREEMENTS THAT MAY RESULT IN PRIVATE BUSINESS USE OF BONDS FINANCED PROPERTIES ARE REVIEWED FIRST BY IN-HOUSE STAFF WHO ARE KNOWLEDGEABLE OF AND RESPONSIBLE FOR THE FORM 990. OUTSIDE COUNSEL IS CONSULTED IF QUESTIONS ARISE. THE 2013 SERIES BONDS REBATE CALCULATIONS WERE LAST PERFORMED ON JUNE 21, 2019. THE DASNY 2016 SERIES BONDS REBATE CALCULATIONS WERE PERFORMED ON APRIL 14, 2021. THE NJEDA 2016 SERIES BONDS REBATE CALCULATIONS WERE PERFORMED ON JULY 6, 2022. A DORMITORY AUTHORITY OF THE STATE OF NEW YORK 146000293 64990GVG4 2019-11-01 342248699 SEE PART VI false false false A 0 0 342248699 0 0 0 2248699 0 0 340000000 0 0 2019 false false true true A false false false true false 0.00000 0.00000 0.00000 false false 0.00000 false true A false true false false false false 0 false 0 false true A true X 248 3324493 MARKET VALUE false true false SALE OF NON CASH CONTRIBUTIONS INCLUDED IN THIS VALUE ARE PLEDGE PAYMENTS, MADE BY STOCK, TOTALING $1,597,665. PROMISES TO GIVE ARE REPORTED AT THE DATE THE INTENT IS MADE IN WRITING. PUBLICLY TRADED DONATED STOCK IS SOLD BY MERRILL LYNCH ON BEHALF OF MEMORIAL SLOAN-KETTERING CANCER CENTER. NOTE A - AFFILIATED ORGANIZATIONS MEMORIAL SLOAN-KETTERING CANCER CENTER (THE CENTER) IS AFFILIATED WITH THE FOLLOWING 501 (C) (3) ORGANIZATIONS: SLOAN-KETTERING INSTITUTE FOR CANCER RESEARCH (THE INSTITUTE), MEMORIAL HOSPITAL FOR CANCER AND ALLIED DISEASES (THE HOSPITAL), S.K.I. REALTY, INC., MSK INSURANCE US, INC., THE LOUIS V. GERSTNER JR., GRADUATE SCHOOL OF BIOMEDICAL SCIENCES, MSKCC PROPERTIES LLC, WITH THE HOSPITAL BEING THE SOLE MEMBER, THE PROSTATE CANCER CLINICAL TRIALS CONSORTIUM (PCCTC) AND MSKCC PROTON INC. WITH THE CENTER BEING THE SOLE MEMBER. THE ORGANIZATIONS SHARE CERTAIN FACILITIES AND VARIOUS SERVICES INCLUDING ADMINISTRATIVE, PLANT AND ANCILLARY SERVICES. THE FOLLOWING IS A SUMMARY OF SUCH SERVICES AMOUNTS IN 2021: SERVICES PROVIDED TO THE CENTER BY: THE HOSPITAL $ 16,964,000 THE INSTITUTION $ 9,660,000 S.K.I. REALTY, INC. $ 8,089,000 TOTAL $ 34,713,000 SERVICES PROVIDED BY THE CENTER TO: THE HOSPITAL $ 832,014,000 THE INSTITUTION $ 210,760,000 S.K.I. REALTY, INC. $ 5,223,000 GERSTNER GRADUATE SCHOOL $ 19,000 TOTAL $1,048,015,000 MEMORIAL SLOAN-KETTERING CANCER CENTER AND ITS AFFILIATES ARE COLLECTIVELY REFERRED TO AS "THE ORGANIZATION". THE CENTER CARRIES ON FUNDRAISING ACTIVITIES ON ITS OWN BEHALF AND ON BEHALF OF THE AFFILIATES. CONTRIBUTIONS AND PLEDGES ARE RECORDED BASED ON THE DONOR'S INTENT IN THE RECORDS OF THE APPROPRIATE ENTITY. FOR 2021, TOTAL CONTRIBUTIONS AND PLEDGES RAISED ON BEHALF OF THE CENTER, HOSPITAL, INSTITUTE AND GRADUATE SCHOOL WERE $576,500,000. CONTRIBUTORS' INFORMATION PROVIDED IN THE ATTACHED SCHEDULE B REPRESENTS THE DONORS' TOTAL PHILANTHROPIC CONTRIBUTIONS TO THE CENTER ONLY. IF ANY DONOR LISTED ON SCHEDULE B MADE CONTRIBUTIONS TO THE HOSPITAL, INSTITUTE, OR GRADUATE SCHOOL, THOSE CONTRIBUTIONS WOULD NOT BE REFLECTED ON THE ATTACHED SCHEDULE B. FUNDRAISING EXPENSES OF $71,894,554 WERE INCURRED AND REPORTED BY THE CENTER IN PART IX, STATEMENT OF FUNCTIONAL EXPENSES. THE CENTER IS ALSO INVOLVED IN LOBBYING FOR THE HOSPITAL AND INSTITUTE, SEE SCHEDULE C. PART II-A. FORM 990, PART VI, LINE 2 FOR THE TAX YEAR 2021, THE FOLLOWING BUSINESS RELATIONSHIPS WERE REPORTED: 1. DIRECTORS ELLEN V. FUTTER AND PETER J. SOLOMON 2. DIRECTORS ALEXANDER T. ROBERTSON AND CLIFTON S. ROBBINS 3. DIRECTORS ELLEN V. FUTTER AND RICHARD I. BEATTIE 4. DIRECTORS WILLIAM FORD AND HENRY FERNANDEZ FORM 990, PART VI, LINE 11B 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. FORM 990, PART VI, LINE 12C IN 2021, 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 ADMINISTRATION OF THIS POLICY, UNDER THE OVERSIGHT OF THE NEWLY CREATED 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 FIVE SENIOR EXECUTIVE OFFICERS DEEMED "INSTITUTIONAL OFFICIALS,THEIR IMMEDIATE FAMILY MEMBERS. INSTITUTIONAL OFFICIALS INCLUDED THE PRESIDENT AND CHIEF EXECUTIVE OFFICER, THE PHYSICIAN-IN-CHIEF AND CHIEF MEDICAL OFFICER, THE CHIEF OPERATING OFFICER, THE CHIEF FINANCIAL OFFICER, AND THE DIRECTOR OF THE SLOAN-KETTERING INSTITUTE FOR CANCER RESEARCH. 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 INTEREST HELD BY MSK OR AN INSTITUTIONAL OFFICIAL (OR THEIR IMMEDIATE FAMILY MEMBERS) COULD, OR COULD REASONABLY BE PERCEIVED TO, DIRECTLY AND SIGNIFICANTLY AFFECT THE DESIGN, CONDUCT, REPORTING, REVIEW, OR OVERSIGHT OF MSK RESEARCH OR THE OUTCOME OF AN MSK ACTIVITY OR DECISION. d. THE POLICY REQUIRED ANY INSTITUTIONAL CONFLICT OF INTEREST TO BE MANAGED, REDUCED OR ELIMINATED. WHEN AN INSTITUTIONAL CONFLICT OF INTEREST DETERMINATION WAS MADE, THE MSK COI COMMITTEE AND/OR THE MSK COI COMMITTEE DESIGNEE(S) DETERMINED HOW TO ADDRESS IT. FOR THOSE CONFLICTS DEEMED MANAGEABLE, MANAGEMENT STRATEGIES IMPLEMENTED INCLUDED RECUSAL OF THE APPLICABLE INSTITUTIONAL OFFICIAL FROM DECISION-MAKING REGARDING THE ARRANGEMENT AND DISCLOSURE TO RELEVANT PERSONNEL; DISCLOSURE OF THE INTEREST IN RELEVANT PUBLICATIONS, PRESENTATIONS, CONSENT FORMS, AND EDUCATIONAL MATERIALS; INDEPENDENT OVERSIGHT BY A DISINTERESTED SENIOR PERSONNEL MEMBER OR COMMITTEE; AND TEMPORARY OR PERMANENT REDUCTION, DIVESTITURE, RELINQUISHMENT, OR TERMINATION OF MSK'S OR AN INSTITUTIONAL OFFICIAL'S INSTITUTIONAL INTEREST. 3. BOARDS OF GOVERNING TRUSTEES CONFLICT OF INTEREST POLICY (THE "BOARD COI POLICY"). a. THE BOARD COI POLICY APPLIED TO BOARD MEMBERS, OFFICERS, AND OTHER MSK SENIOR LEADERSHIP. INDIVIDUALS COVERED BY THE BOARD COI POLICY WERE REQUIRED TO DISCLOSE FINANCIAL INTERESTS AND RELATIONSHIPS, AS DEFINED BY THE POLICY, ANNUALLY AND ON AN ONGOING BASIS. OTHER ENTITIES IN THE SAME TAX-EXEMPT GROUP HAD OVERLAPPING OFFICERS AND BOARD MEMBERS AS DESCRIBED IN SCHEDULE O; SUCH PERSONS REPORTED FINANCIAL INTERESTS THROUGH THIS OR RELATED PROCESSES. b. THE BOARD COI COMMITTEE WAS RESPONSIBLE FOR DETERMINING WHETHER ANY INTEREST DISCLOSED UNDER THE BOARD COI POLICY GAVE RISE TO A CONFLICT OF INTEREST. THE POLICY REQUIRED THAT THE MEMBERS OF THE BOARD COI COMMITTEE VOTE, WITHOUT THE INDIVIDUAL WITH THE POTENTIAL CONFLICT PRESENT, TO DETERMINE WHETHER A CONFLICT OF INTEREST EXISTED. ALL MEMBERS PARTICIPATING IN THE VOTE WERE REQUIRED TO BE DISINTERESTED WITH RESPECT TO THE TRANSACTION, ARRANGEMENT, OR RELATIONSHIP. c. THE COVERED INDIVIDUAL WITH THE CONFLICT OF INTEREST COULD MAKE A PRESENTATION TO THE BOARD COI COMMITTEE, BUT COULD NOT PARTICIPATE IN OR INFLUENCE THE DISCUSSION OF, OR VOTE ON, THE PROPOSED TRANSACTION, ARRANGEMENT, OR RELATIONSHIP. THE EXISTENCE AND RESOLUTION OF ANY CONFLICT OF INTEREST, ALONG WITH ASSOCIATED DETERMINATIONS MADE AND VOTES TAKEN, WERE REQUIRED TO BE DOCUMENTED IN WRITING. d. FOR ANY TRANSACTION, ARRANGEMENT, OR RELATIONSHIP THAT INVOLVED A CONFLICT OF INTEREST, A CONFLICT MANAGEMENT PLAN COULD BE IMPLEMENTED IF DOING SO WAS IN THE BEST INTERESTS OF MSK. MANAGEMENT PLANS COULD REQUIRE DISCLOSURE, RECUSAL OR OTHER LIMITATION OF ROLE, INDEPENDENT OVERSIGHT AND CONFIDENTIALITY. FORM 990, PART VI, LINE 15 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 2021, WHICH SET THE COMPENSATION FOR THE PERIOD APRIL 2021 TO MARCH 2022. 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. FORM 990, PART VI, LINE 19 THE AUDITED FINANCIAL STATEMENTS OF MEMORIAL SLOAN-KETTERING CANCER CENTER AND ITS AFFILIATES ARE AVAILABLE TO THE PUBLIC UPON REQUEST. IN ADDITION, THE FINANCIAL STATEMENTS CAN BE ACCESSED AT THE FOLLOWING WEB ADDRESS: WWW.DACBOND.COM. THE ORGANIZATION HAS ENGAGED DAC BOND AS OUR INVESTOR RELATIONS AND DISCLOSURE/DISSEMINATION AGENT. THE INFORMATION AVAILABLE ON THIS WEB SITE INCLUDES AUDITED FINANCIAL STATEMENTS, QUARTERLY UNAUDITED FINANCIAL STATEMENTS AND THE BOND OFFERING STATEMENTS FOR ALL DEBT ISSUES. IN ADDITION, COPIES OF THE GROUP 990 AND THE APPLICABLE 990T ARE ALSO AVAILABLE. THE CONFLICT OF INTEREST POLICY IS AVAILABLE TO THE PUBLIC UPON REQUEST AND IT ALSO CAN BE FOUND AT THE FOLLOWING INSTITUTIONAL WEB SITE: WWW.MSKCC.ORG. GOVERNING DOCUMENTS SUCH AS THE ARTICLES OF INCORPORATION AND CORPORATE BY-LAWS ARE NOT AVAILABLE TO THE PUBLIC. FORM 990, PART VII, SECTION B AMOUNTS PAID TO INDEPENDENT CONTRACTORS INCLUDE AMOUNTS FOR SUBCONTRACTORS AS WELL AS REIMBURSABLE EXPENSES. FORM 990, PART XI, LINE 9 CHANGE IN POSTRETIREMENT REVENUE $231,707,800 OTHER NON-OPERATING EXPENSES ($10,201,150) TOTAL-OTHER CHANGES IN NET ASSETS $221,506,650 FORM 990, PART XII, LINE 2 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). THE CENTER'S FINANCIAL STATEMENTS ARE NOT AUDITED INDEPENDENT OF THE COMBINED. REFER TO SCHEDULE D FOR A RECONCILIATION OF THE 990 TO THE CENTER'S FINANCIAL STATEMENTS. STRATEGIC PLANNING AND COMMUNITY BENEFITS MEMORIAL SLOAN-KETTERING CANCER CENTER (MSK) AND ITS AFFILIATES AS REPORTED ON A COMBINED BASIS WITH A SEPARATE GROUP 990 FILING UNDER EIN # 91-2154236. MEMORIAL SLOAN-KETTERING CANCER CENTER AND ITS AFFILIATES ARE INTERTWINED WITH A FINANCIAL ASSISTANCE PROGRAM AND COMMUNITY BENEFIT ACTIVITIES AS OUTLINED BELOW. MSK'S INPATIENT HOSPITAL IS IN MID-MANHATTAN WITH ADDITIONAL OUTPATIENT TREATMENT CENTERS IN BROOKLYN, LONG ISLAND, WESTCHESTER COUNTY, AND NEW JERSEY. OUR PRIMARY CATCHMENT AREA ENCOMPASSES 23 COUNTIES ACROSS THE FIVE BOROUGHS OF NEW YORK CITY, LONG ISLAND, SOUTHERN NEW YORK STATE, NEW JERSEY, AND SOUTHWESTERN CONNECTICUT. A TOTAL OF 201,586 PATIENTS WERE SEEN AT MSK'S FACILITIES IN 2021, INCLUDING 184,175 PATIENTS FROM THE TRI-STATE AREA (NY, NJ, CT); 16,994 PATIENTS FROM OTHER PARTS OF THE UNITED STATES; AND 417 PATIENTS FROM OTHER COUNTRIES. THESE PATIENTS ACCOUNTED FOR 24,142 ADMISSIONS TO OUR HOSPITAL WITH 160,922 RELATED PATIENT DAYS AND 904,743 OUTPATIENT VISITS AT OUR COMBINED FACILITIES IN NEW YORK CITY AND THE REGION. SINCE 1987, MSK HAS HAD A FINANCIAL ASSISTANCE PROGRAM (FAP) IN PLACE TO ASSIST UNDERINSURED AND UNINSURED PATIENTS WHO ARE EXPERIENCING DIFFICULTIES MEETING THEIR FINANCIAL RESPONSIBILITIES TO MEMORIAL HOSPITAL AND ITS PHYSICIANS. FINANCIAL COUNSELORS WORK WITH PATIENTS AND INSURANCE COMPANIES INCLUDING MEDICARE AND MEDICAID TO HELP THEM ACCESS SERVICES. THOSE WHO DO NOT QUALIFY FOR PUBLICLY AVAILABLE HEALTH INSURANCE, OR WHO ARE UNABLE TO PAY THEIR PORTION OF FEES ABOVE INSURANCE REIMBURSEMENT, MAY OBTAIN HELP THROUGH THE INSTITUTION'S FAP IF THEY ARE ELIGIBLE. THE INSTITUTION USES A 500% OF THE FEDERAL POVERTY LEVEL (FPL) AS AN ANNUAL INCOME GUIDELINE, TO DETERMINE A PATIENT'S ELIGIBILITY. HOWEVER, A PATIENT MAY QUALIFY FOR FAP EVEN WITH AN INCOME EXCEEDING THE 500% FPL. THAT'S BECAUSE WE ALLOW A DEDUCTION FOR MONTHLY ROUTINE HOUSEHOLD BILLS BASED ON FAMILY SIZE. PATIENTS WITH A ZERO OR NEGATIVE BALANCE ARE THEREFORE, ELIGIBLE FOR THE PROGRAM UNLESS THEY HAVE LARGE ASSETS NOT LINKED TO THEIR RETIREMENT OR EDUCATION. MORE INFORMATION ON THE FINANCIAL ASSISTANCE PROGRAM CAN BE OBTAINED ON THE MSK'S WEBSITE AT WWW.MSKCC.ORG/FINANCIAL-ASSISTANCE. THE TABLE BELOW ALSO ILLUSTRATES THE INCOME GUIDELINE USED IN EVALUATING THE PATIENT'S FINANCIAL STATUS. FAMILY SIZE ALLOWED INCOME RESOURCE LEVELS 1 $ 64,400 $ 37,875 2 $ 87,100 $ 55,500 3 $109,800 $ 62,535 4 $132,500 $ 70,688 5 $155,200 $ 78,848 6 $177,900 $ 87,000 STRATEGIC PLANNING AND COMMUNITY BENEFITS - CONTINUED MSKCC'S STRATEGIC PLANNING PROCESS INCLUDES DEVELOPING PROGRAMS IN RESPONSE TO CANCER MORBIDITY AND MORTALITY DATA, DEMOGRAPHIC DATA, AND COMMUNITY INPUT IN ACCORDANCE WITH THE IRS COMMUNITY HEALTH NEEDS ASSESSMENTS REQUIREMENTS. THESE FINDINGS ARE USED IN DESIGNING THE IMPLEMENTATION STRATEGY TO PLAN INITIATIVES AND PROGRAMS AIMED AT IMPROVING OUR COMMUNITIES' ACCESS TO CANCER INFORMATION, CANCER CARE. THE ORGANIZATION'S STRATEGIC EFFORTS ARE ALSO FOCUSED ON REDUCING THE CRITICAL ISSUE OF CANCER HEALTH DISPARITIES AMONG MINORITY AND MEDICALLY UNDERSERVED POPULATIONS. THESE PROGRAM SERVICES ARE OFFERED THROUGH VARIOUS CHANNELS WITHIN THE INSTITUTION. THE MSK RALPH LAUREN CENTER (RLC), PROVIDES CANCER PREVENTION, SCREENING, DIAGNOSIS, AND TREATMENT AS WELL AS SOCIAL SERVICES, FINANCIAL COUNSELING AND A FOOD PANTRY SUPPLEMENTED WITH NUTRITIONAL COUNSELING. RLC'S SCOPE OF SERVICES INCLUDE BREAST CANCER EVALUATION, DIAGNOSTIC AND TREATMENT SERVICES, INCLUDING CHEMOTHERAPY, FOR MOST CANCERS AND BLOOD DISEASES, AND SCREENING SERVICES FOR BREAST, CERVICAL, COLON, PROSTATE AND LUNG CANCER AND SMOKING CESSATION PROGRAM. RLC IS STAFFED BY MEDICAL ONCOLOGISTS, A BREAST SURGEON, APP'S, REGISTERED NURSES, PATIENT CARE TECHNICIANS, A DIETICIAN/NUTRITIONIST, RADIOLOGY TECHNOLOGISTS, AND LAB TECHNICIANS. REFERRALS TO CLINICIANS, PROGRAMS, AND FACILITIES WITHIN MEMORIAL HOSPITAL ARE COORDINATED FOR PATIENTS REQUIRING SUCH SERVICES. TO-DATE RLC HAS MANAGED MORE THAN 180,000 PATIENT VISITS AND REPORTED MORE THAN 2,000 FINANCIAL ASSESSMENT CASES. THE PSYCHIATRY & BEHAVIORAL SERVICES DEPARTMENT'S PSYCHIATRISTS AND PSYCHOLOGISTS USE THEIR EXPERTISE TO ASSIST PATIENTS WITH THE SPECTRUM OF PSYCHIATRIC AND BEHAVIORAL ISSUES THAT ARISE DURING DIAGNOSIS AND TREATMENT. THE DEPARTMENT ALSO WORKS TO DEEPEN ITS UNDERSTANDING AND EXPAND TREATMENT OPTIONS FOR ONCOLOGY PATIENTS AROUND THE GLOBE THROUGH CLINICAL TRIALS, RESEARCH, AND OTHER MEANS. THE DEPARTMENT ALSO OFFERS INPATIENT AND OUTPATIENT PSYCHOLOGICAL AND SOCIAL SUPPORT SERVICES TO PATIENTS, THEIR FAMILIES, AND CAREGIVERS. SERVICES PROVIDED INCLUDE CONSULTATIONS AND EVALUATION, PSYCHOTHERAPY, MEDICATION MANAGEMENT AND PHARMACOTHERAPY, SUPPORTIVE COUNSELING, SMOKING CESSATION, HYPNOTHERAPY, AND VARIOUS DIAGNOSTIC TESTS, AND OTHERS. DURING 2021, THE DEPARTMENT EXPERIENCED 32,600 INPATIENT AND OUTPATIENT ENCOUNTERS WITH 1,739 PATIENTS TREATED THROUGH THE SMOKING CESSATION PROGRAM. APPROXIMATELY $4.49M WAS EXPENDED BY THE DEPARTMENT TO SUPPORT ITS COMMUNITY BENEFIT-RELATED PROGRAMS. AT MSK WE BELIEVE IN CARING FOR THE WHOLE PERSON NOT JUST THE DISEASE OR SYMPTOM. INTEGRATIVE MEDICINE WEAVES NATURAL TREATMENTS SUCH AS ACUPUNCTURE, MASSAGE, AND YOGA INTO OUR OVERALL CARE PLAN. ALL OF OUR HOLISTIC HEALTH SERVICES AND PROGRAMS ARE BASED ON THE LATEST SCIENTIFIC EVIDENCE. THE INTEGRATIVE MEDICINE SERVICE PROVIDES FREE CLINICAL CARE FOR INPATIENTS. DURING 2021, THE DEPARTMENT SERVICED 7,903 PATIENT VISITS. THESE CLINICAL SERVICES INCLUDED MUSIC THERAPY, TOUCH THERAPY, ACUPUNCTURE, YOGA AND YOGIC BREATHING, MEDITATION AND GUIDED IMAGERY, KARATE AND DANCE THERAPY. WE ALSO PROVIDED EXTENSIVE EDUCATION FOR PATIENTS AND CAREGIVERS DURING BEDSIDE AND GROUP VISITS. IN ADDITION, WE OFFER OUTPATIENT ACUPUNCTURE CONSULTATIONS TO ANYONE IN THE COMMUNITY AT NO COST TO THEM. THESE CONSULTATIONS ADVISED CLIENTS ON HOW ACUPUNCTURE COULD BENEFIT THEIR CONDITION BASED ON THEIR SPECIFIC THERAPEUTIC NEEDS. THERE WERE 91 ACUPUNCTURE CONSULTATIONS PROVIDED IN 2021. THE DEPARTMENT INCURRED $1.53M IN PERSONNEL COST TO DELIVER COMMUNITY BENEFIT-RELATED PROGRAMS. MSK ENGAGES IN AND SUPPORTS COALITION-BUILDING ACTIVITIES THAT PROMOTE THE HEALTH OF THE COMMUNITIES IT SERVES. STAFF MEMBERS ARE ENCOURAGED TO SHARE THEIR CLINICAL EXPERTISE AND EXPERIENCE WITH PARTNERING HEALTHCARE FACILITIES AND COMMUNITY ORGANIZATIONS. STAFF SERVE AND PARTICIPATE IN NUMEROUS COMMUNITY GROUPS INCLUDING THE AMERICAN CANCER SOCIETY, THE GREATER NEW YORK HOSPITAL ASSOCIATION, AND MANY HEALTH IMPROVEMENT ADVOCACY GROUPS FOR VARIOUS TYPES OF CANCER. FOR INSTANCE, MSK SPONSORS SEVERAL PROGRAMS THAT GIVE MEDICAL STUDENTS, UNDERGRADUATES, AND HIGH SCHOOL STUDENTS THE OPPORTUNITY TO WORK AT THE INSTITUTION DOING CLINICAL AND LABORATORY RESEARCH. THROUGH THESE PROGRAMS, MEMORIAL SLOAN KETTERING STRIVES TO INCREASE THE PIPELINE OF SCIENTISTS AND PHYSICIANS WORKING IN ONCOLOGY. IN 2021, THE ORGANIZATION ESTABLISHED THE OFFICE OF HEALTH EQUITY (OHE) TO ADDRESS CANCER DISPARITIES THAT EXIST DUE TO RACIAL, ETHNIC, CULTURAL, OR SOCIOECONOMIC BARRIERS. THROUGH A PATIENT CENTRIC FOCUS, THE OHE IS RESPONSIBLE FOR LEADING PATIENT CARE AND RESEARCH ACTIVITIES INCLUDING THE CANCER HEALTH EQUITY RESEARCH PROGRAM (CHERP) AND CANCER EQUITY PROGRAMS. INTEGRAL TO OHE'S ROLE IS THE DEVELOPMENT OF HEALTH EQUITY RESEARCH AND EDUCATION AND TRAINING. AS SUCH THE OHE HAS IMPLEMENTED RECRUITING AND TRAINING INITIATIVES ACROSS THE INSTITUTION. THE OBJECTIVE OF THESE TRAINING PROGRAMS IS TO ENHANCE THE DIVERSITY OF FUTURE CANCER RESEARCH WORKFORCE BY PROVIDING MINORITY STUDENTS WITH EXPOSURE TO CUTTING-EDGE CANCER RESEARCH WITH RENOWNED MENTORS. OUR BASIC AND TRANSLATIONAL RESEARCHERS HAVE MADE MANY SIGNIFICANT CONTRIBUTIONS TO THE SCIENTIFIC COMMUNITY'S UNDERSTANDING OF CANCER BIOLOGY AND CANCER GENETICS AS WELL AS TO RELATED FIELDS CELL BIOLOGY, MOLECULAR BIOLOGY, STRUCTURAL BIOLOGY, DEVELOPMENTAL BIOLOGY, MOLECULAR PHARMACOLOGY AND CHEMISTRY, IMMUNOLOGY, COMPUTATIONAL BIOLOGY, AND DRUG DEVELOPMENT. GENES FIRST IDENTIFIED IN OUR LABORATORIES ARE NOW THE FOCUS OF INTENSE RESEARCH IN OTHER LABORATORIES AROUND THE WORLD. DRUGS, MONOCLONAL ANTIBODIES, AND OTHER AGENTS FIRST DEVELOPED IN OUR LABORATORIES HAVE GONE ON TO GAIN REGULATORY APPROVAL FOR TREATING PATIENTS WORLDWIDE. RECENT EXPANSION OF OUR LABORATORY SPACE HAS ALLOWED US TO GROW OUR RESEARCH EFFORTS SO THAT GOING FORWARD WE CAN CONTINUE TO MAKE DISCOVERIES THAT WILL CHANGE THE WAY THE WORLD UNDERSTANDS CANCER AND AID IN THE DEVELOPMENT OF BETTER TREATMENTS FOR CANCER PATIENTS EVERYWHERE. IN 2021, MEMORIAL SLOAN KETTERING SPENT $662.3M IN SUPPORT OF ITS RESEARCH MISSION, OF WHICH $241.0M WAS SPONSORED BY GOVERNMENTAL AND OTHER NON-PROFIT ORGANIZATIONS, $142.4M FROM PHILANTHROPY, AND $278.9M FROM THE INSTITUTION'S FUNDS. EDUCATION AND TRAINING ARE KEY COMPONENTS OF MEMORIAL SLOAN KETTERING'S MISSION AND IMPORTANT EXAMPLES OF HOW THE INSTITUTION MAKES CONTRIBUTIONS TO THE CARE AND TREATMENT OF CANCER PATIENTS FAR BEYOND ITS OWN WALLS THROUGH WORKFORCE DEVELOPMENT. OUR TRAINING, GRADUATE, AND CONTINUING EDUCATION PROGRAMS PREPARE PHYSICIANS, SCIENTISTS, NURSES, AND TECHNICIANS TO BE LEADERS IN THEIR CHOSEN FIELDS. THESE HEALTHCARE PROVIDERS CAN THEN TAKE THE EXPERTISE GAINED FROM WORKING WITH OUR SPECIALISTS TO OTHER HEALTHCARE INSTITUTIONS AROUND THE COUNTRY AND THROUGHOUT THE WORLD. MSK ALSO TRAINS GRADUATE STUDENTS AND POSTDOCTORAL RESEARCHERS WORKING IN MANY AREAS OF BASIC SCIENCE AND TRANSLATIONAL RESEARCH. WHEN THESE YOUNG SCIENTISTS COMPLETE THEIR TRAINING, THEY BRING THE SKILLS OBTAINED IN OUR LABORATORIES INTO THE ACADEMIC COMMUNITY AT LARGE AS WELL AS THE PRIVATE SECTOR. MEMORIAL SLOAN KETTERING UTILIZED $213.9M OF THE INSTITUTION'S RESOURCES DURING 2021 TO SUPPORT ITS EDUCATION AND TRAINING MISSION, WHICH WE CONSIDER VITAL, GIVEN OUR LEADERSHIP ROLE IN CANCER CARE TREATMENT AND RESEARCH. $58.0M OF THE AMOUNT WAS SPONSORED BY GOVERNMENTAL AND OTHER REVENUE SOURCES AND $155.9M FROM THE INSTITUTION'S GENERAL FUND. COVID-19 ON MARCH 11, 2020, THE WORLD HEALTH ORGANIZATION DESIGNATED THE COVID-19 OUTBREAK AS A GLOBAL PANDEMIC. FEDERAL, STATE AND LOCAL GOVERNMENT POLICIES RESULTED IN A SUBSTANTIAL PORTION OF THE POPULATION REMAINING AT HOME AND FORCED THE CLOSURE OF CERTAIN BUSINESSES. THESE ACTIONS PRESENTED UNPRECEDENTED CHALLENGES TO ALL, INCLUDING THE MEDICAL COMMUNITY AS THEY GRAPPLED TO CONTAIN THE DEADLY COVID-19 PANDEMIC WHILE CARING FOR THE RAPID SURGE OF ITS AILING CONSTITUENTS. THE INSTITUTION RESPONDED QUICKLY TO LEAD OUR COMMUNITIES THROUGH A SERIES OF VIRTUAL INFORMATION SESSIONS TO EDUCATE THE COMMUNITY ABOUT THE COVID-19 VIRUS, CONTINUING CARE, AND OTHER CANCER-RELATED TOPICS. MSK ALSO DEVELOPED THE FIRST COVID-19 TEST IN NEW YORK CITY. THIS GAME-CHANGING ACHIEVEMENT CREATED ROBUST TESTING CAPACITY SINCE THE EARLY DAYS OF THE PANDEMIC. MSK'S CONTRIBUTION TO THE FIGHT AGAINST COVID EXTENDED FAR BEYOND OUR INSTITUTION. OUR FACULTY HAVE GENERATED MORE THAN 230 COVID-19 RELATED PUBLICATIONS RANGING FROM PRACTICE-CHANGING GUIDELINES TO THE FIRST REPORTS OF THE CLINICAL EXPERIENCE IN TREATING CANCER PATIENTS WITH COVID-19, TO PROMISING COVID-19 DRUGS CANDIDATES AND NEW INSIGHTS INTO THE STRUCTURE AND FUNCTION OF THE VIRUS. IN ADDITION, THE INSTITUTION GREATLY EXPANDED ITS FOOD PANTRY AND INCREASED THE AMOUNT OF FOOD DISTRIBUTED. 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