2014-11-12T16:00:07-06:00 2013-12-31 861065772 DELOITTE TAX LLP 201 E KENNEDY BLVD STE 1200 TAMPA FL 33602 990 2013-01-01 591711400 MOUNT SINAI MEDICAL CENTER FOUNDATION MOUN 3056742777 4300 ALTON ROAD MIAMI BEACH FL 33140 ALEXANDER MENDEZ CFO/EVPO 3056742032 2014-11-12 1 STEVEN ROVNER P00648526 8132738355 2013 2015-11-30 17:44:51Z STEVEN D SONENREICH 4300 ALTON ROAD MIAMI BEACH FL 33140 33198655 0 X MSMCFOUNDATION.ORG X 1976 FL TO RAISE FUNDS TO SUPPORT MOUNT SINAI MEDICAL CENTER OF FLORIDA, INC., A NOT-FOR-PROFIT ACUTE CARE TEACHING AND RESEARCH FACILITY. 69 66 12 2 0 0 16342826 16374673 0 0 1296540 2494352 -35296 -80157 17604070 18788868 580966 648963 0 0 1648482 1725832 0 0 560474 2809026 2206422 5038474 4581217 12565596 14207651 107400065 121991067 698516 627154 106701549 121363913 TO RAISE FUNDS TO SUPPORT MOUNT SINAI MEDICAL CENTER OF FLORIDA, INC., A NOT-FOR-PROFIT ACUTE CARE TEACHING AND RESEARCH FACILITY. 0 0 2801523 648963 16374673 THE FOUNDATION RAISES FUNDS FOR MOUNT SINAI MEDICAL CENTER, A 501(C)(3) ORGANIZATION, FOR CAPITAL AND NON-CAPITAL PURPOSES. 2801523 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 1 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 8 0 1 12 1 0 0 0 0 0 0 0 0 0 0 X 69 66 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 X CAMILLE LEWIS 3056742030 4300 ALTON ROAD MIAMI BEACH FL 33140 JAYNE ABESS DIRECTOR 0.50 0.00 X 0 0 0 MATTHEW ADLER DIRECTOR 0.50 0.00 X 0 0 0 MICHAEL M ADLER DIRECTOR 0.50 2.00 X 0 0 0 RONALD ALBERT JR DIRECTOR 0.50 0.00 X 0 0 0 JONATHAN BELOFF VICE PRESIDENT/DIRECTOR 0.50 0.00 X X 0 0 0 MATAN BEN-AVIV DIRECTOR 0.50 0.00 X 0 0 0 MARK BLACKBURN DIRECTOR 0.50 0.00 X 0 0 0 DONNA K BLOOM DIRECTOR 0.50 0.00 X 0 0 0 STEVEN BOUCHER DIRECTOR 0.50 0.00 X 0 0 0 JC CAREY DIRECTOR 0.50 0.00 X 0 0 0 MARKO CERENKO DIRECTOR 0.50 0.00 X 0 0 0 PAUL B CHAPLIN MD DIRECTOR 0.50 2.00 X 0 0 0 WAYNE E CHAPLIN DIRECTOR 0.50 2.00 X 0 0 0 SONYA GELB CHOEFF DIRECTOR 0.50 0.00 X 0 0 0 FERNANDO CRESPO DIRECTOR 0.50 0.00 X 0 0 0 NORMAN S EDELCUP TREASURER/DIRECTOR 0.50 0.00 X X 0 0 0 ROBERT EICHNER DIRECTOR 0.50 0.00 X 0 0 0 MIRIELLE ENLOW DIRECTOR 0.50 0.00 X 0 0 0 DR ANTONIO FERNANDEZ DIRECTOR 0.50 0.00 X 0 17940 0 ROBERT FINVARB DIRECTOR 0.50 0.00 X 0 0 0 RONALD FINVARB DIRECTOR 0.50 0.00 X 0 0 0 JONATHAN FRYD DIRECTOR 0.50 0.00 X 0 0 0 MARTIN J GELB DIRECTOR 0.50 0.00 X 0 0 0 GARY R GERSON DIRECTOR 0.50 0.00 X 0 0 0 NIETY GERSON DIRECTOR 0.50 0.00 X 0 0 0 DALIA GLOTTMANN DIRECTOR 0.50 0.00 X 0 0 0 BARTON S GOLDBERG DIRECTOR 0.50 0.00 X 0 0 0 MICHAEL S GOLDBERG DIRECTOR 0.50 0.00 X 0 0 0 JERROLD GOODMAN DIRECTOR 0.50 0.00 X 0 0 0 MARK H HILDEBRANDT DIRECTOR 0.50 2.00 X 0 0 0 ANDREW R HIRSCHL DDS DIRECTOR 0.50 0.00 X 0 0 0 SHEILA HOLLO SECRETARY/DIRECTOR 0.50 0.00 X X 0 0 0 JUDITH HYDE DIRECTOR 0.50 0.00 X 0 0 0 RONI JACOBSON DIRECTOR 0.50 0.00 X 0 0 0 RICHARD L KRELSTEIN DIRECTOR 0.50 0.00 X 0 0 0 IRA B LAMPERT DIRECTOR 0.50 2.00 X 0 0 0 MATTHEW LAZENBY DIRECTOR 0.50 0.00 X 0 0 0 LINDA LEVY DIRECTOR 0.50 0.00 X 0 0 0 JASON LOEB PRESIDENT/DIRECTOR 0.50 0.00 X X 0 0 0 JACQUELINE J MANSFIELD DIRECTOR 0.50 0.00 X 0 0 0 ISABEL MAY DIRECTOR 0.50 0.00 X 0 0 0 LAURANS A MENDELSON DIRECTOR 0.50 2.00 X 0 0 0 MICHAEL MILBERG CHIEF DEVELOPMENT OFFICER 60.00 0.00 X 381493 0 50302 LISA MILLER EISENBERG DIRECTOR 0.50 0.00 X 0 0 0 JEFFREY E NEWMAN DIRECTOR 0.50 0.00 X 0 0 0 LYNNE NORKIN DIRECTOR 0.50 0.00 X 0 0 0 MATT PAPUNEN DIRECTOR 0.50 0.00 X 0 0 0 JAY PARKER VICE PRESIDENT/DIRECTOR 0.50 0.00 X X 0 0 0 ALAN G RANDOLPH DIRECTOR 0.50 0.00 X 0 0 0 CAROLEE REIBER DIRECTOR 0.50 0.00 X 0 0 0 MARK J REVITZ DIRECTOR 0.50 0.00 X 0 0 0 STEPHEN L RIEMER DIRECTOR 0.50 0.00 X 0 0 0 ROBIN ROSENBLOOM DIRECTOR 0.50 0.00 X 0 0 0 ADAM ROSENFELD DIRECTOR 0.50 0.00 X 0 0 0 MELISSA RUBIN DIRECTOR 0.50 0.00 X 0 0 0 CANDACE RUSKIN DIRECTOR 0.50 0.00 X 0 0 0 CAROLE R SAMET DIRECTOR 0.50 0.00 X 0 0 0 BONNIE SCHAEFER PRESIDENT/DIRECTOR 1.00 0.00 X X 0 0 0 SANDRA SELIGMAN DIRECTOR 0.50 0.00 X 0 0 0 RONALD W SHANE MD DIRECTOR 0.50 0.00 X 0 0 0 STEVEN D SONENREICH DIRECTOR 0.50 61.00 X 0 1197367 340088 SENATOR PAUL B STEINBERG DIRECTOR 0.50 0.00 X 0 0 0 ROBERT A STONE DIRECTOR 0.50 2.00 X 0 0 0 DAVID SUGARMAN DIRECTOR 0.50 0.00 X 0 0 0 ARTHUR S UNGER DIRECTOR 0.50 0.00 X 0 0 0 JOSHUA WALLACK VICE PRESIDENT/DIRECTOR 0.50 0.00 X X 0 0 0 MICHAEL S WEINBERG DIRECTOR 0.50 0.00 X 0 0 0 LEONARD A WIEN JR DIRECTOR 0.50 2.00 X 0 0 0 LINDA ZILBER VICE PRESIDENT/DIRECTOR 0.50 0.00 X X 0 0 0 BATIA SEPIN SENIOR FUND RAISER 60.00 0.00 X 136272 0 53134 517765 1215307 443524 2 0 1 0 BLACKBAUD 2000 DANIEL ISLAND DRIVE CHARLESTON SC 294927541 FUNDRAISING DATABASE MGMT 116472 FONTAINEBLEAU HOTEL 4441 COLLINS AVENUE MIAMI BEACH FL 33140 EVENT HOSTING 102398 2 16374673 92862 16374673 1887020 1887020 14772206 14164874 607332 607332 607332 164756 244913 -80157 -80157 18788868 0 0 2414195 586963 586963 62000 62000 517765 73795 443970 962136 610659 351477 245931 107282 86701 51948 21010 21010 95950 95950 35443 17258 12594 5591 53644 19446 26822 7376 783 284 391 108 207699 207699 BAD DEBT EXPENSE 974324 974324 CONSULTING AGREEMENTS 248601 90118 124301 34182 FOOD & ENTERTAINMENT 217530 106925 61752 48853 PLAQUES 156610 125288 31322 194828 27181 138030 29617 4581217 2801523 1219220 560474 4142093 5545060 33774649 37251946 17954060 19499309 13093 6788 51246530 59654459 31206 31206 238434 2299 107400065 121991067 698516 597474 0 29680 698516 627154 X 19328769 29132133 81702562 86941562 5670218 5290218 106701549 121363913 107400065 121991067 14207651 454713 0 X 0 1 X 1 0 X 15569724 15535269 20564329 13438926 12183207 77291455 15569724 15535269 20564329 13438926 12183207 77291455 14915494 62375961 1365416 1042858 911920 1294497 1887020 6501711 139565 216180 163705 120144 164756 804350 84597516 0.73730 0.77110 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FUNDRAISING REVENUES RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 32882000 1779000 413000 1755000 629000 32690000 31392000 4731000 449000 3041000 649000 32882000 34821000 588000 484000 3914000 587000 31392000 33102000 4128000 500000 1326000 1583000 34821000 29939000 4076000 571000 893000 591000 33102000 0.00000 0.16180 0.83820 0 0 0 DUE TO MSMC 29680 29680 X 19488494 454713 454713 19033781 -244913 -244913 18788868 4826130 244913 244913 4581217 0 4581217 PART V, LINE 4: EXPLANATION: THE FOUNDATION'S ENDOWMENT CONSISTS OF APPROXIMATELY 47 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. THE ENDOWMENT CONSISTS OF DONOR-RESTRICTED FUNDS THAT HAVE BEEN LIMITED BY DONORS TO A SPECIFIC TIME PERIOD OR PURPOSE. AS REQUIRED BY GAAP, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. THE ENDOWMENT NET ASSET COMPOSITION BY FUND TYPE AS OF DECEMBER 31, 2013, IS COMPOSED OF THE FOLLOWING: TEMPORARILY RESTRICTED PERMANENTLY RESTRICTED ALZHEIMER'S PROGRAM 7,379,000 0 MELANOMA RESEARCH 3,945,000 0 CANCER LIFELINE 1,591,000 0 CANCER RESEARCH 2,310,000 0 OTHER PROGRAMS 12,175,000 5,290,000 ------------ ----------- TOTAL FUNDS 27,400,000 5,290,000 PART X, LINE 2: EXPLANATION: THE FOOTNOTE TO THE AUDITED FINANCIAL STATEMENTS FOR MOUNT SINAI MEDICAL CENTER OF FLORIDA, INC. AND SUBSIDIARIES REGARDING FIN48 READS AS FOLLOWS: THE MEDICAL CENTER FOLLOWS THE PROVISIONS OF ASC 740-15-2, INCOME TAXES, AND HAS DETERMINED THAT AS OF DECEMBER 31, 2013 AND 2012, THE MEDICAL CENTER HAD NO MATERIAL UNRECOGNIZED TAX BENEFITS. THE MEDICAL CENTER DOES NOT EXPECT THAT UNRECOGNIZED TAX BENEFITS WILL MATERIALLY INCREASE WITHIN THE NEXT TWELVE MONTHS. IN THE EVENT THE MEDICAL CENTER WERE TO RECOGNIZE INTEREST AND PENALTIES RELATED TO UNCERTAIN TAX POSITIONS, IT WOULD BE RECOGNIZED IN THE CONSOLIDATED FINANCIAL STATEMENTS AS INCOME TAX EXPENSE. TAX YEARS FROM 2009 THROUGH 2013 ARE SUBJECT TO EXAMINATION BY THE FEDERAL AND STATE TAXING AUTHORITIES, RESPECTIVELY. THERE ARE NO INCOME TAX EXAMINATIONS CURRENTLY IN PROCESS. PART XI, LINE 4B - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSE -244,913. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSE 244,913. FOUNDERS BALL 109525 109525 135998 19755 41629 SAKS - KEY TO THE CURE 52771 52771 14000 1 2460 2460 20543 4800 8188 164756 164756 156541 24555 63817 244913 -80157 1 MOUNT SINAI MEDICAL CENTER 4300 ALTON ROAD MIAMI BEACH FL 33140 590624424 501(C)(3) 586963 FAIR MARKET VALUE N/A GENERAL SUPPORT 1 SCHOLARSHIPS FOR STUDENTS ATTENDING SCHOOL 31 62000 FAIR MARKET VALUE N/A PART I, LINE 2: MOUNT SINAI MEDICAL CENTER OR FLORIDA FOUNDATION TRANSFERS A PORTION OF THE CONTRIBUTIONS RECEIVED FROM THE YOUNG PRESIDENTS CLUB TO MSMC OF FLORIDA FOR PROGRAM SERVICES AND TO SPECIFIC INDIVIDUALS IN THE FORM OF SCHOLARSHIPS TO PROVIDE FINANCIAL ASSISTANCE TO THE CHILDREN OF MSMC EMPLOYEES. THE YOUNG PRESIDENTS CLUB BOARD ELECTS EACH YEAR TO DONATE THE FUNDS AND SEE TO IT THAT ALL TRANSFERS ARE USED FOR PROPER PURPOSES AND ARE NOT OTHERWISE DIVERTED FROM THE INTENDED USE. 0 1 0 0 0 0 0 0 0 MICHAEL MILBERG CHIEF DEVELOPMENT OFFICER 284064 0 93685 0 3744 0 47850 0 2452 0 431795 0 0 0 STEVEN D SONENREICH DIRECTOR 0 780629 0 397010 0 19728 0 317048 0 23040 0 1537455 0 0 BATIA SEPIN SENIOR FUND RAISER 118483 0 16097 0 1692 0 45812 0 7322 0 189406 0 0 0 PART I, LINE 3 THE ORGANIZATION RELIED ON THE METHODS OF ESTABLISHING COMPENSATION FOR THE ORGANIZATION'S CEO/EXECUTIVE DIRECTOR EMPLOYED BY MOUNT SINAI MEDICAL CENTER OF FLORIDA, INC. (EIN: 59-0624424). MOUNT SINAI MEDICAL CENTER USES THE FOLLOWING METHODS TO ESTABLISH SUCH COMPENSATION: - COMPENSATION COMMITTEE - INDEPENDENT COMPENSATION CONSULTANT - WRITTEN EMPLOYMENT CONTRACT - COMPENSATION SURVEY OR STUDY - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE. PART I, LINE 4B STEVEN D. SONENREICH, PRESIDENT AND CHIEF EXECUTIVE OFFICER OF MSMC AND MEMBER OF MSMC FOUNDATION BOARD OF DIRECTORS, PARTICIPATES IN AN IRC SEC 457(F) PLAN. THE PAYMENT IN 2013 WAS $ 269,198. X 4 92862 FAIR MARKET VALUE 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 TRUSTEES MICHAEL ADLER AND MATTHEW ADLER HAVE A FAMILY RELATIONSHIP. TRUSTEES WAYNE CHAPLIN AND PAUL CHAPLIN HAVE A BUSINESS RELATIONSHIP. TRUSTEES WAYNE CHAPLIN AND PAUL CHAPLIN HAVE A FAMILY RELATIONSHIP. TRUSTEES WAYNE CHAPLIN AND SHEILA HOLLO HAVE A FAMILY RELATIONSHIP. TRUSTEES MARTIN GELB AND SONIA GELB CHOEFF HAVE A FAMILY RELATIONSHIP. TRUSTEES GARY GERSON AND NIETY GERSON HAVE A FAMILY RELATIONSHIP. TRUSTEES LAURANS MENDELSON AND CANDACE RUSKIN HAVE A FAMILY RELATIONSHIP. TRUSTEES ROBERT FINVARB AND RONALD FINVARB HAVE A FAMILY RELATIONSHIP. TRUSTEES MICHAEL GOLDBERG AND BARTON GOLDBERG HAVE A FAMILY RELATIONSHIP. TRUSTEES MARK H. HILDEBRANDT AND LAURANS A. MENDELSON HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11 THE PROCESS FOR REVIEW OF THE FORM 990 BY MEMBERS OF THE GOVERNING BODY AND MANAGEMENT IS AS FOLLOWS: THE MEMBERS OF THE GOVERNING BODY, MANAGEMENT, AND THE INDEPENDENT TAX CONSULTANTS HAVE MET AND REVIEWED IN DETAIL THE COMPLETED FORM 990. THE FOLLOWING MEMBERS OF THE GOVERNING BODY PERFORMED THE REVIEW ALONG WITH EXECUTIVE MANAGEMENT COMPOSED OF THE CHIEF EXECUTIVE OFFICER AND THE CHIEF FINANCIAL OFFICER, AND INDEPENDENT TAX CONSULTANTS: CHAIRMAN OF THE BOARD VICE-CHAIRMAN OF THE BOARD CHAIRMAN, FINANCE COMMITTEE CHAIRMAN, COMPLIANCE COMMITTEE CHAIRMAN, INVESTMENT COMMITTEE PRESIDENT, FOUNDATION CHAIRMAN, AUDIT COMMITTEE FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY: MOUNT SINAI MEDICAL CENTER FOUNDATION, INC. (THE "MEDICAL CENTER") FORMALLY IMPLEMENTED A WRITTEN CONFLICT OF INTEREST POLICY (THE "POLICY") ON MARCH 2006 TO PROTECT THE MEDICAL CENTER AND ENSURE THAT THE DELIBERATIONS AND DECISIONS MADE ON BEHALF OF THE MEDICAL CENTER ARE MADE IN THE BEST INTEREST OF THE MEDICAL CENTER. THE TERM "CONFLICT OF INTEREST" AS DEFINED BY THIS POLICY REFERS TO SITUATIONS IN WHICH FINANCIAL OR OTHER PERSONAL CONSIDERATIONS MAY COMPROMISE, OR HAVE THE APPEARANCE OF COMPROMISING, THE JUDGMENT OF SOMEONE CHARGED WITH THE RESPONSIBILITY TO ACT ON BEHALF OF THE MEDICAL CENTER. THIS POLICY IS REVIEWED PERIODICALLY BUT NOT LESS THAN ONCE A YEAR BY THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES TO BETTER MEET ITS OBJECTIVES. IT IS INTENDED TO SUPPLEMENT BUT NOT REPLACE ANY APPLICABLE LAWS GOVERNING CONFLICTS OF INTEREST IN NONPROFIT AND CHARITABLE ORGANIZATIONS. PERSONS COVERED UNDER THIS POLICY INCLUDE: (1) ANY CURRENT OR FORMER TRUSTEE, OFFICER, OR MEMBER OF A COMMITTEE WITH BOARD DELEGATED POWERS FOR THE MEDICAL CENTER; (2) MEMBERS OF MANAGEMENT AND ANY EMPLOYEE OF THE MEDICAL CENTER WHO: A) RECEIVES COMPENSATION FROM THE MEDICAL CENTER IN EXCESS OF $150,000 ANNUALLY, WHETHER AS A FULL- OR PART-TIME EMPLOYEE, INDEPENDENT CONTRACTOR, OR OTHERWISE, AND, B) HAS RESPONSIBILITIES, POWER OF INFLUENCE OVER AN ACTIVITY OF THE MEDICAL CENTER SIMILAR TO THAT OF AN OFFICER OR TRUSTEE AND WHICH REPRESENTS MORE THAN 10% OF THE ACTIVITIES, ASSETS, INCOME OR EXPENSES OF THE MEDICAL CENTER, AND C) IS ONE OF THE TWENTY EMPLOYEES WITH THE HIGHEST COMPENSATION FROM THE MEDICAL CENTER. (3) ANY PERSON(S) WHO SERVE AS A MEMBER OF THE MEDICAL CENTER'S MEDICAL STAFF AS A CHAIRPERSON OF A DEPARTMENT, CHIEF OF A CLINICAL SERVICE, OR MEMBER OF THE MEDICAL EXECUTIVE COMMITTEE. MONITORING AND COMPLIANCE: AN IMPORTANT STEP IN MONITORING AND ENFORCING COMPLIANCE WITH A CONFLICT OF INTEREST POLICY INCLUDES MANAGEMENT'S EDUCATION EFFORTS TO MAKE INTERESTED PERSONS AWARE OF THE ORGANIZATION'S CONFLICT OF INTEREST POLICY. TO THAT END, MANAGEMENT HAS INCLUDED IN ITS CODE OF CONDUCT (THE "CODE") A SECTION ON CONFLICTS OF INTEREST WHICH HAS TO BE SIGNED AND RETURNED BY EVERY INTERESTED PERSON TO ACKNOWLEDGE AND ATTEST THAT THEY READ THE CODE INCLUDING THE CONFLICT OF INTEREST SECTION. ANNUALLY, INTERESTED PERSONS ALSO RECEIVE A REFRESHER TRAINING SESSION ON ETHICS AND CONFLICTS OF INTEREST. IN ADDITION, THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES HAS CREATED A SUBCOMMITTEE ON CONFLICTS OF INTEREST ("CONFLICTS COMMITTEE") TO ADMINISTER AND MONITOR COMPLIANCE WITH THIS POLICY. THE CONFLICTS COMMITTEE REQUIRES A STATEMENT FROM EACH INTERESTED PERSON NOT LESS FREQUENTLY THAN ONCE A YEAR SETTING FORTH ALL BUSINESS AND OTHER AFFILIATIONS THAT RELATE IN ANY WAY TO THE BUSINESS AND OTHER ACTIVITIES OF THE MEDICAL CENTER. INTERNAL AUDIT COMPILES AND SUMMARIZES ALL THE DISCLOSURES RECEIVED FROM INTERESTED PERSONS TO FACILITATE THEIR REVIEW BY THE CONFLICTS COMMITTEE. THE CONFLICTS COMMITTEE INDIVIDUALLY DISCUSSES EACH DISCLOSURE TO EVALUATE WHETHER A CONFLICT OF INTEREST EXISTS AND DETERMINES THE APPROPRIATE COURSE OF ACTION TO TAKE. NEITHER THE BOARD NOR ANY COMMITTEE OF THE BOARD SHALL VOTE UPON ANY PROPOSED TRANSACTION OR ARRANGEMENT IN CONNECTION WITH A POTENTIAL CONFLICT OF INTEREST UNTIL SUCH TIME AS THE CONFLICTS COMMITTEE HAS DETERMINED WHETHER A CONFLICT OF INTEREST EXISTS. WHERE THE CONFLICTS COMMITTEE HAS CONCLUDED THAT A CONFLICT OF INTEREST EXISTS, THE CHAIRMAN OF THE CONFLICTS COMMITTEE SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO A PROPOSED TRANSACTION, CONTRACT, OR ARRANGEMENT. IF THE CONFLICTS COMMITTEE DETERMINES THAT THE MEDICAL CENTER CAN OBTAIN A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT WITH REASONABLE EFFORTS FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST, THEN THE MEDICAL CENTER SHALL NOT ENTER INTO THE TRANSACTION THAT INVOLVES THE CONFLICT OF INTEREST. IF A TRANSACTION OR ARRANGEMENT MORE ADVANTAGEOUS IS NOT REASONABLY ATTAINABLE UNDER THE CIRCUMSTANCES THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST, THEN THE BOARD OR COMMITTEE, AS APPLICABLE, SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED TRUSTEES WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE MEDICAL CENTER'S BEST INTEREST AND WHETHER IT IS FAIR AND REASONABLE TO THE MEDICAL CENTER, AND SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT IN CONFORMITY WITH SUCH DETERMINATION. FAILURE BY AN INTERESTED PERSON TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST UNDER THE CONFLICT OF INTEREST POLICY IS CONSIDERED A SERIOUS MATTER AND MAY CONSTITUTE "CAUSE" FOR REMOVAL OR TERMINATION OF A TRUSTEE, OFFICER, OR THE TERMINATION OF ANY CONTRACTUAL OR EMPLOYMENT RELATIONSHIP THE MEDICAL CENTER MAY HAVE WITH AN INTERESTED PERSON OR OTHER PARTY. FORM 990, PART VI, SECTION B, LINE 15 ON AN ANNUAL BASIS, THE MOUNT SINAI MEDICAL CENTER COMPENSATION COMMITTEE CONTRACTS WITH AN INDEPENDENT CONSULTANT TO PREPARE AN OPINION REGARDING THE REASONABLENESS AND COMPARABILITY OF THE TOTAL COMPENSATION PROVIDED TO ITS SENIOR OFFICERS AND KEY EMPLOYEES. THE COMPENSATION COMMITTEE INFORMS THE INDEPENDENT CONSULTANT THAT THE INDEPENDENT CONSULTANT'S OPINION WILL BE PART OF THE COMMITTEE'S PROCEDURE FOR ESTABLISHING THE REBUTTABLE PRESUMPTION OF REASONABLENESS DESCRIBED IN THE INCOME TAX REGULATIONS. THE INDEPENDENT CONSULTANT'S DETERMINATION OF REASONABLENESS IS MADE AFTER A THOROUGH REVIEW OF ALL THE ELEMENTS OF THE TOTAL COMPENSATION COMPRISED OF: CASH COMPENSATION, HEALTH AND WELFARE BENEFITS, RETIREMENT BENEFITS, EXECUTIVE BENEFITS AND PERQUISITES, AND OTHER ELEMENTS OF COMPENSATION INCLUDING SEVERANCE ARRANGEMENTS. THE OPINION EXPRESSED BY THE INDEPENDENT CONSULTANT IS THEN PRESENTED TO THE MSMC COMPENSATION COMMITTEE IN A REPORT FORM FOR THEIR REVIEW. MOUNT SINAI MEDICAL CENTER FOUNDATION RELIES ON THE PROCESS FOR DETERMINING COMPENSATION PERFORMED AT MSMC. FORM 990, PART VI, SECTION C, LINE 19 POLICY FOR ANNUAL INFORMATION REQUEST: DOCUMENTS THAT ARE REQUIRED TO BE OPEN FOR PUBLIC INSPECTION ARE MADE AVAILABLE UPON REQUEST. MOUNT SINAI MEDICAL CENTER OF FLORIDA 4300 ALTON ROAD MIAMI BEACH FL 33140 590624424 HOSPITAL FL 501(C)(3) 3 N/A 0 MSMC INSURANCE TRUST 4300 ALTON ROAD MIAMI BEACH FL 33140 591830065 TRUST FL 501(C)(3) 11 B N/A 0 MSMC OFFICE BUILDING II 4300 ALTON ROAD MIAMI BEACH FL 33140 205737392 TITLE LEASE FL 501(C)(2) N/A N/A 0 RIGHT CHOICE MANAGEMENT SERVICES INC 4300 ALTON ROAD MIAMI BEACH FL 33140 650728277 MGMT SERVICES FL N/A S 0 MT SINAI MED CTR OF FL GUARANTEE CORP PO BOX 1051 CJ KY1-1102 INSURANCE CJ N/A C 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1