2017-08-15T11:01:17-05:00 2016-09-30 PricewaterhouseCoopers LLP 101 SEAPORT BOULEVARD BOSTON MA 02210 990 2015-10-01 042785453 FOUNDATION OF THE MASSACHUSETTS EYE AND EAR INFIRMARY INC % JACK MALLEY FOUN 6175733942 243 CHARLES STREET BOSTON MA 02114 CAROLANN WILLIAMS CFO & VP FIN AND ADMIN 6175733012 2017-08-01 true ERIN COUTURE P01390592 6175305000 2015 2021-01-29 14:40:06Z JOHN FERNANDEZ 243 CHARLES STREET BOSTON MA 02114 116660955 false X WWW.MASSEYEANDEAR.ORG X 1983 MA SEE SCHEDULE O. 19 15 0 19 -7149 -48967 17354853 15144783 0 0 43952713 25657948 -1447157 121841 59860409 40924572 30279434 26885050 0 0 0 0 0 0 0 1931441 1990609 32210875 28875659 27649534 12048913 220089293 251927436 38892285 54225094 181197008 197702342 X SEE SCHEDULE O. false false 27268605 26885050 THE FOUNDATION IS ORGANIZED EXCLUSIVELY FOR THE BENEFIT OF AND TO CARRY OUT THE PURPOSE OF THE MASSACHUSETTES EYE AND EAR INFIRMARY ("THE INFIRMARY"), A TAX-EXEMPT MEDICAL AND SURGICAL HOSPITAL, WHICH PROVIDES PATIENT CARE, RESEARCH AND EDUCATION IN OPHTHALMOLOGY, OTOLARYNGOLOGY AND RELATED SPECIALTIES. THE FOUNDATION RAISES FUNDS, INVESTS FUNDS AND MAKES GRANTS TO THE INFIRMARY. 27268605 true true false false false false false false false true false true false true true true false true false false true false false true true false false true true true false false false false false false false false true false false false false true true true false false true 11 0 0 true true false false false false true true false false false false X 19 15 false false false false false false false true true false false true true true true true true false false false CA CT FL GA IL MD MA MI MN NH NJ NY NC OH PA RI SC X JACK MALLEY 6175733235 243 CHARLES STREET BOSTON MA 02114 X ANNETTE NOVA DIRECTOR 2.0 6.0 X 0 0 0 CHARLES DE GUNZBURG DIRECTOR 2.0 6.0 X 0 0 0 D BRADLEY WELLING MD DIRECTOR 2.0 58.0 X 0 1028145 58456 DEWALT PETE ANKENY DIRECTOR 2.0 6.0 X 0 0 0 DIANE E KANEB DIRECTOR 2.0 2.0 X 0 0 0 EUGENE HILL DIRECTOR 2.0 2.0 X 0 0 0 FREDERICK THORNE DIRECTOR (UNTIL 8/2016) 2.0 2.0 X 0 0 0 HARVEY FREISHTAT DIRECTOR 2.0 2.0 X 0 0 0 JAMES CARLISLE DIRECTOR 2.0 2.0 X 0 0 0 JOAN W MILLER MD DIRECTOR 2.0 58.0 X 0 882170 58456 JOHN R FERNANDEZ PRESIDENT 10.0 50.0 X X 0 1073655 251186 JONATHAN KUTCHINS DIRECTOR 2.0 4.0 X 0 0 0 JONATHAN UHRIG TREASURER 3.0 7.0 X X 0 0 0 LYLE HOWLAND SECRETARY 2.0 6.0 X X 0 0 0 RICHARD H ALDRICH DIRECTOR (UNTIL 12/2015) 2.0 2.0 X 0 0 0 ROBERT ATCHINSON DIRECTOR 2.0 2.0 X 0 0 0 ROBERT KNAPP DIRECTOR (AS OF 12/2015) 2.0 2.0 X 0 0 0 SAMUEL FLEMING DIRECTOR 2.0 2.0 X 0 0 0 THOMAS LAUER DIRECTOR 2.0 2.0 X 0 0 0 VICTORIA MCCULLOUGH DIRECTOR (UNTIL 12/2015) 2.0 6.0 X 0 0 0 WILLIAM ROMAN DIRECTOR 2.0 2.0 X 0 0 0 WYCLIFFE GROUSBECK CHAIR 3.0 7.0 X X 0 0 0 CAROLANN WILLIAMS CFO & VP FINANCE AND ADMIN 3.0 57.0 X 0 482121 34184 MARTHA PYLE FARRELL ASSISTANT SECRETARY 3.0 57.0 X 0 363042 32265 MAUREEN KELLEY ASSISTANT SECRETARY 3.0 57.0 X 0 193850 26570 0 4022983 461117 0 false true false CAMBRIDGE ASSOCIATES 125 HIGH STREET BOSTON MA 02110 INVESTMENT CONSULTNT 246373 MFS INTERNATIONAL GROWTH FUND 111 HUNTINGTON AVENUE BOSTON MA 02199 INVESTMENT MANAGER 107521 THE SILCHESTER INTERNATIONAL INVEST 780 THIRD AVE 42ND FLOOR NEW YORK NY 10017 INVESTMENT MANAGER 102985 3 2165148 12979635 2614924 15144783 0 1671632 -7149 1678781 0 0 0 0 0 73410452 25614011 73062104 1976043 348348 23637968 23986316 23986316 57750 2165148 698236 -640486 -640487 0 0 GAIN ON BENEFICIAL INTEREST IN TRUSTS 762327 762327 762327 40924572 -7149 25786937 26760653 26760653 124397 124397 0 0 0 0 0 0 0 0 0 39381 39381 118183 118183 0 0 640776 640776 57858 57858 5000 5000 2651 2651 0 0 0 65005 65005 0 6660 6660 0 0 0 832 832 REIMB/MEEI/EMP BENEFITS 675021 675021 MISCELLANEOUS 287652 287652 FOOD 2372 2372 BANK FEE 75835 75835 13383 13383 28875659 27268605 1607054 0 1874227 187882 0 0 12119404 12087765 0 0 0 0 0 0 0 0 0 0 0 0 0 93356134 104047131 94235523 99897818 0 0 0 0 18504005 35706840 220089293 251927436 38539 40879 0 0 0 0 0 0 0 0 0 0 0 0 0 0 38853746 54184215 38892285 54225094 X 79664352 93365856 41320031 39824547 60212625 64511939 181197008 197702342 220089293 251927436 12048913 4456421 X false true X true false X 8066534 17869359 16441403 17354853 15144783 74876932 0 0 8066534 17869359 16441403 17354853 15144783 74876932 8197054 66679878 1349835 1241363 1360300 1484211 1678781 7114490 33185 8587 0 0 0 41772 1641648 871255 856070 0 820077 4189050 86222244 0.77335 0.79174 X PART II, LINE 10: INCOME RELATES TO GAINS ON BENEFICIAL INTEREST IN TRUST. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 72613174 1960347 2728854 3796280 1045439 72460656 78511651 1229040 -274466 5028553 1824498 72613174 87204661 746394 5114694 12790645 1763453 78511651 89724541 2692680 3521682 7238559 1495683 87204661 86399272 1269332 6139492 2803513 1280042 89724541 0.03980 0.76480 0.19540 false false INVSTMNT IN LIMITED PARTNERSHP 34650502 C FIXED INCOME INVESTMENTS 8840155 C CLOSELY HELD EQUITIES 55317161 C OTHER 1090000 C 99897818 BENEFICIAL INTEREST IN TRUSTS 15891307 REMAINDER INTEREST-CHAR TRUST 436613 INTEREST IN PROFESSORSHIP 3000000 DUE FROM AFFILIATES 16378920 35706840 0 CHAR GIFT ANNUITY & UNITRUST PAY 572660 DUE TO AFFILIATES 53611555 54184215 X SCHEDULE D, PART V, LINE 4: THE ENDOWMENT FUNCTIONS TO SUPPORT THE MISSION OF THE MASSACHUSETTS EYE AND EAR INFIRMARY TO PROVIDE SUPERIOR PATIENT CARE AND RESEARCH. THE INCOME FROM THE ENDOWMENT FUNDS ARE SUBJECT TO DONOR-IMPOSED STIPULATIONS USUALLY FOR RESEARCH, EDUCATION AND PATIENT CARE. SCHEDULE D, PART X, LINE 2: THE FOUNDATION OF THE MASSACHUSETTS EYE AND EAR INFIRMARY, INC. ("THE FOUNDATION") WAS INCLUDED IN CONSOLIDATED FINANCIAL STATEMENTS WITH ITS AFFILIATED ORGANIZATIONS. THE INCOME TAX FOOTNOTE IS AS FOLLOWS : THE FOUNDATION AND ITS AFFILIATES QUALIFY AS TAX-EXEMPT ORGANIZATIONS UNDER THE INTERNAL REVENUE CODE. THE FOUNDATION, INFIRMARY, ASSOCIATES, SCHEPENS AND EMBANKMENT ARE TAX-EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND CIRCLE IS TAX-EXEMPT UNDER 501(C)(25) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE ACCOMPANYING FINANCIAL STATEMENTS. MANAGEMENT HAS EVALUATED ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES AND THERE WAS NO IMPACT TO THE FOUNDATION'S FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30, 2016. true Central America and the Caribbean Investments 36318967 Europe (Including Iceland and Greenland) Investments 5000000 Central America and the Caribbean Program Services TRAVEL 114 East Asia and the Pacific Program Services TRAVEL 13688 Europe (Including Iceland and Greenland) Program Services TRAVEL 12340 Middle East and North Africa Program Services TRAVEL 2232 North America Program Services TRAVEL 4472 South America Program Services TRAVEL 3928 South Asia Program Services TRAVEL 175 Sub-Saharan Africa Program Services TRAVEL 268 41356184 41356184 true false true true true false The Organization identifies foreign expenditures separately on its books and records. X X X X X X true CA CT FL GA IL ME MD MA MI MN NH NJ NY NC OH PA RI SC VA SENSE-ATION 1425529 1386379 39150 347228 47819 211016 MARATHON 611719 611719 1 185650 167050 18600 16920 42111 33142 2222898 2165148 57750 16920 389339 47819 244158 698236 -640486 PART I, LINE 2 MASSACHUSETTS EYE & EAR INFIRMARY FUNDRAISING EXPENSES ARE INCURRED AND REPORTED IN THE EXPENSES IN AUDITED FINANCIALS OF THE OPERATING ENTITY, MASS. EYE AND EAR INFIRMARY. true MASSACHUSETTS EYE AND EAR INFIRMARY 243 CHARLES STREET BOSTON MA 02114 042103591 501(C)(3) 18188435 FMV N/A TFR FOR SPECIFIC USES MASSACHUSETTS EYE AND EAR ASSOCIATES INC 243 CHARLES STREET BOSTON MA 02114 222658209 501(C)(3) 4845685 BKV N/A TFR FOR SPECIFIC USES SCHEPENS EYE RESEARCH INSTITUTE INC 20 STANIFORD STREET BOSTON MA 02114 042129889 501(C)(3) 3285359 AMV N/A TFR FOR SPECIFIC USES HARVARD UNIVERSITY 1033 Massachusetts Ave Cambridge MA 02138 042103580 501(c)(3) 159966 FMV N/A SPEECH AND HEARING MASSACHUSETTS GENERAL HOSPITAL PO BOX 3829 BOSTON MA 02114 042697983 501(C)(3) 234701 FMV N/A NEW ENGLAND EYE CENTER 800 Washington Street Boston MA 02111 043400617 501(c)(3) 23253 HIS N/A CORNEA RESEARCH MASS LIONS RESEARCH LAB AT BU 88 East Concord Street Boston MA 02118 042103547 501(c)(3) 23253 FMV N/A CORNEA RESEARCH 7 FREE MEDICAL CARE FOR INDIVIDUALS 1130 124397 FMV N/A SCHEDULE I, PART I, LINE 2: THE FOUNDATION IS THE PARENT OF THE INFIRMARY, SCHEPENS EYE RESEARCH INSTITUTE AND THE MASSACHUSETTS EYE AND EAR ASSOCIATES (THE "ASSOCIATES"), A RELATED GROUP OF TAX-EXEMPT ENTITIES. TRANSFERS ARE MADE BETWEEN THESE GROUPS TO CARRY OUT THE MISSION THEY ARE DEDICATED TO: PATIENT CARE, RESEARCH AND TEACHING. THE BOARD OF DIRECTORS, MANAGEMENT TEAMS, MEDICAL DOCTORS, AND EMPLOYEES, WORK CLOSELY TO MONITOR AND ENSURE THAT THE POLICIES AND PROCEDURES IN PLACE WITH RESPECT TO THESE TRANSFERS ARE BEING CARRIED OUT TO FURTHER THE CHARITABLE CAUSE OF ALL ENTITIES. false true false false false false false false false CAROLANN WILLIAMS CFO & VP FINANCE AND ADMIN 0 406712 0 74599 0 810 0 12810 0 21374 0 516305 0 0 D BRADLEY WELLING MD DIRECTOR 0 885677 0 122920 0 19548 0 36475 0 21981 0 1086601 0 0 JOAN W MILLER MD DIRECTOR 0 718928 0 142920 0 20322 0 36475 0 21981 0 940626 0 0 JOHN R FERNANDEZ PRESIDENT 0 734263 0 200000 0 139392 0 229746 0 21440 0 1324841 0 120000 MARTHA PYLE FARRELL ASSISTANT SECRETARY 0 282191 0 61720 0 19131 0 11637 0 20628 0 395307 0 0 MAUREEN KELLEY ASSISTANT SECRETARY 0 189446 0 4000 0 404 0 5890 0 20680 0 220420 0 0 SCHEDULE J, PART I, LINE 3: THE FOUNDATION OF THE MASSACHUSETTS EYE AND EAR INFIRMARY, INC. ("THE FOUNDATION") DOES NOT HAVE ANY PAID EMPLOYEES. EMPLOYEES OF THE FOUNDATION ARE LEASED FROM THE MASSACHUSETTS EYE AND EAR INFIRMARY ("THE INFIRMARY"), A RELATED ORGANIZATION. THE INFIRMARY USED A COMPENSATION COMMITTEE, COMPENSATION SURVEY, APPROVAL BY THE BOARD, AND AN INDEPENDENT COMPENSATION CONSULTANT TO ESTABLISH THE COMPENSATION OF THE PRESIDENT. SCHEDULE J, PART I, LINE 4B: JOHN FERNANDEZ PARTICIPATES IN A DEFERRED COMPENSATION ARRANGEMENT WITH MASSACHUSETTS EYE AND EAR. UNDER THIS AGREEMENT, MR. FERNANDEZ WILL BE CREDITED $200,000 FOR CALENDAR YEAR 2015. EACH ANNUAL CREDIT WILL VEST ON THE FOURTH ANNIVERSARY OF THE DATE SUCH CREDIT WAS MADE OR UPON (1) THE ATTAINMENT OF THE AGE OF 65 WHILE EMPLOYED; (2) TERMINATION WITHOUT CAUSE OR RESIGNATION FOR GOOD REASON; (3) DEATH; (4) DISABILITY; OR (5) CHANGE OF CONTROL OF MASSACHUSETTS EYE AND EAR WITHIN THE MEANING OF SECTION 409A OF THE INTERNAL REVENUE CODE. MR. FERNANDEZ RECEIVED A PAYOUT OF $138,150 FROM THE DEFERRED COMPENSATION AGREEMENT IN 2015. X 47 2614924 HI/LO MEAN false true false SCHEDULE M, PART I, COLUMN (B) THE FOUNDATION IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED DURING THE YEAR. FORM 990, PART I, LINE 1 & PART III, LINE 1: THE FOUNDATION OF THE MASSACHUSETTS EYE AND EAR INFIRMARY, INC. ("THE FOUNDATION") IS ORGANIZED EXCLUSIVELY FOR THE BENEFIT OF AND TO CARRY OUT THE PURPOSE OF THE MASSACHUSETTS EYE AND EAR INFIRMARY, (THE "INFIRMARY") A TAX EXEMPT MEDICAL AND SURGICAL HOSPITAL WHICH PROVIDES PATIENT CARE, RESEARCH AND EDUCATION IN OPHTHALMOLOGY, OTOLARYNGOLOGY AND RELATED SPECIALTIES. THE FOUNDATION RAISES FUNDS, INVESTS FUNDS AND MAKES GRANTS TO THE INFIRMARY. FORM 990, PART VI, LINE 1A: THE FOUNDATION'S BYLAWS STATE THE FOLLOWING: THERE SHALL BE AN EXECUTIVE COMMITTEE CONSISTING OF THE CHAIR OF THE BOARD OF DIRECTORS, WHO SHALL CHAIR THE COMMITTEE, THE VICE CHAIR(S) OF THE BOARD OF DIRECTORS, IF ANY, THE SECRETARY, THE TREASURER, THE PRESIDENT OF THE CORPORATION, AND TWO OTHER MEMBERS OF THE BOARD OF DIRECTORS APPOINTED ANNUALLY ON A ROTATING BASIS BY THE BOARD OF DIRECTORS UPON RECOMMENDATION OF THE CHAIR OF THE BOARD OF DIRECTORS. THE EXECUTIVE COMMITTEE SHALL HAVE THE POWER TO TRANSACT ALL EMERGENCY BUSINESS OF THE CORPORATION DURING THE PERIOD BETWEEN THE MEETINGS OF THE BOARD OF DIRECTORS. THE EXECUTIVE COMMITTEE SHALL ALSO TRANSACT SUCH BUSINESS, PERFORM SUCH DUTIES, AND EXERCISE SUCH POWERS AS MAY BE DIRECTED OR DELEGATED BY THE BOARD OF DIRECTORS FROM TIME TO TIME. THE EXECUTIVE COMMITTEE SHALL KEEP A RECORD OF ITS PROCEEDINGS. ALL ACTIONS OF THE EXECUTIVE COMMITTEE SHALL BE REPORTED TO THE BOARD OF DIRECTORS AT ITS NEXT REGULAR MEETING. FORM 990, PART VI, LINE 11B: THE FOUNDATION'S FORM 990 IS PREPARED BY PRICEWATERHOUSECOOPERS, LLP USING INFORMATION PREPARED BY MANAGEMENT. AFTER THE FORM 990 IS COMPLETED, IT IS REVIEWED BY THE MANAGER OF INVESTMENTS AND FOUNDATION ACCOUNTING OF THE FOUNDATION. THE FORM 990 IS THEN PRESENTED TO THE FINANCE COMMITTEE FOR FURTHER REVIEW AND APPROVAL AS AUTHORIZED BY THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS IS ALSO GIVEN THE FORM 990 FOR REVIEW WITH TIME TO SUBMIT COMMENTS AND QUESTIONS BEFORE FINAL FILING. FORM 990, PART VI, LINE 12C: ALL EMPLOYEES OF THE FOUNDATION ARE LEASED FROM THE INFIRMARY AND COVERED BY THE INFIRMARY CONFLICT OF INTEREST POLICY. MEMBERS OF THE STAFF ARE REQUIRED TO DISCLOSE CONFLICTS OF INTEREST TO THEIR CHIEF OF SERVICE, DEPARTMENT AND DIRECTOR OF LABORATORY/UNIT. MEMBERS OF THE BOARD OF DIRECTORS ARE REQUIRED TO DISCLOSE ANNUALLY, IN WRITING, ANY INTERESTS THAT COULD RISE TO CONFLICTS. THE OFFICE OF THE INTERNAL LEGAL COUNSEL OBTAINS AND REVIEWS THE ANNUAL CONFLICTS OF INTEREST STATEMENTS SUBMITTED BY MEMBERS OF THE BOARD OF DIRECTORS, AND REPORTS ON THE SAME TO THE AUDIT AND COMPLIANCE COMMITTEE OF THE BOARD. WITH RESPECT TO INTERESTS DISCLOSED BY THE BOARD MEMBERS THAT COULD GIVE RISE TO CONFLICTS OF INTEREST, THE INTERNAL LEGAL COUNSEL REVIEWS ALL TRANSACTIONS BETWEEN SUCH INTERESTS AND AFFILIATES OF THE FOUNDATION, TO DETERMINE WHETHER THESE TRANSACTION WERE CONDUCTED AT ARM'S LENGTH. FORM 990, PART VI, LINE 15: EMPLOYEES ARE LEASED FROM THE INFIRMARY. PLEASE SEE THE INFIRMARY'S RETURN FOR COMPENSATION DISCLOSURES. THE CHAIRMAN OF THE COMPENSATION COMMITTEE OF THE BOARD OF THE MASSACHUSETTS EYE AND EAR INFIRMARY PRESENTS A RECOMMENDATION TO THE COMPENSATION COMMITTEE WHO HAVE FINAL APPROVAL OF THE CEO'S BASE SALARY AND BONUS AMOUNT. THE CEO RECOMMENDS EXECUTIVE SALARIES TO THE COMPENSATION COMMITTEE OF THE BOARD WHICH HAS FINAL AUTHORIZATION TO APPROVE IT. THE COMPENSATION COMMITTEE MEETING WAS HELD ON NOVEMBER 18, 2015. TOTAL COMPENSATION FOR THE CEO, CHIEFS AND VICE PRESIDENTS, INCLUDING BONUS PAYMENTS, INCLUDING COMPARABILITY DATA, IS ANALYZED BY INDEPENDENT COMPENSATION CONSULTANTS AND IS DETERMINED TO BE REASONABLE. FORM 990, PART VI, LINE 19: SUMMARIZED FINANCIAL STATEMENTS ARE AVAILABLE ON THE INFIRMARY'S WEBSITE: WWW.MASSEYEANDEAR.ORG. AUDITED FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. THE FORM 990 IS AVAILABLE UPON REQUEST. GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE ALSO AVAILABLE UPON REQUEST. FORM 990, PART VII: COMPENSATION IS FOR PROFESSIONAL SERVICES AND NOT FOR SERVICE AS OFFICERS. THE FOUNDATION LEASES EMPLOYEES FROM THE INFIRMARY. PLEASE SEE THE INFIRMARY'S RETURN FOR COMPENSATION DISCLOSURES. MASSACHUSETTS EYE & EAR INFIRMARY 243 CHARLES STREET BOSTON MA 02114 042103591 HOSPITAL MA 501(C)(3) 3 FOUNDATION true MASSACHUSETTS EYE & EAR ASSOCIATES INC 243 CHARLES STREET BOSTON MA 02114 222658209 PATIENT CARE MA 501(C)(3) 9 FOUNDATION true EMBANKMENT SERVICES INC 14 DAVID MUGAR WAY BOSTON MA 02114 043272965 SUPPORT MA 501(C)(3) 11 -TYPE I FOUNDATION true CIRCLE COMPANY INC 243 CHARLES STREET BOSTON MA 02114 042801797 TITLE HOLDNG MA 501(C)(25) N/A FOUNDATION true SCHEPENS EYE RESEARCH INSTITUTE INC 20 STANIFORD STREET BOSTON MA 02114 042129889 RESEARCH MA 501(C)(3) 7 FOUNDATION true false true false false false false false false false false false false true true true true false false true MASSACHUSETTS EYE AND EAR INFIRMARY B 18188435 CASH MASSACHUSETTS EYE AND EAR ASSOCIATES INC B 4845685 CASH SCHEPENS EYE RESEARCH INSTITUTE INC B 3285359 CASH MASSACHUSETTS EYE AND EAR INFIRMARY M 2237636 CASH MASSACHUSETTS EYE AND EAR INFIRMARY O 675021 CASH MASSACHUSETTS EYE AND EAR ASSOCIATES INC S 6128729 CASH MASSACHUSETTS EYE AND EAR INFIRMARY P 10304894 CASH