2025-11-07T10:53:52-05:00 2024-12-31 PwC US Tax LLP 2001 MARKET ST SUITE 1800 PHILADELPHIA PA 19103 990 2024-01-01 112608229 MAIMONIDES RESEARCH & DEVELOPMENT FOUNDATION % PATRICK BORGEN MD MAIM 7182836456 4802 TENTH AVENUE BROOKLYN NY 11219 PATRICK BORGEN MD PRES/MED DIRECTOR 7182836456 2025-11-05 true true MEREDITH MONROE P01441362 2673303000 2024 2025-03-06 01:10:19Z PATRICK BORGEN MD 4802 TENTH AVENUE BROOKLYN NY 11219 5593358 false X WWW.maimonidesmed.org X 1982 NY Maimonides Research and Development FOUNDATION AWARDS GRANTS FOR RESEARCH AND DEVELOPMENT ACTIVITIES PRIMARILY TO PHYSICIANS ASSOCIATED WITH MAIMONIDES MEDICAL CENTER. 17 5 0 0 0 0 0 0 275000 275000 573323 630160 1215 1936 849538 907096 351369 486728 0 0 0 0 0 0 0 437331 493981 788700 980709 60838 -73613 19807901 22470558 650101 816568 19157800 21653990 X MAIMONIDES RESEARCH AND DEVELOPMENT FOUNDATION WAS ESTABLISHED EXCLUSIVELY FOR THE EDUCATIONAL, SCIENTIFIC, MEDICAL AND CHARITABLE PURPOSES CARRIED ON BY MAIMONIDES MEDICAL CENTER. false false 742580 486728 275000 EXPENDITURES FOR GRANTS REPRESENT FUNDS AWARDED BY THE FOUNDATION'S BOARD OF DIRECTORS FOR MEDICAL RESEARCH AND DEVELOPMENT PROJECTS. INCLUDED IN EXPENSES ARE $218,528 RESEARCH RELATED ADMINISTRATIVE FEES. 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THE MAJORITY OF THE BOARD OF DIRECTORS OF THE FOUNDATION CONTINUES TO CONSIST OF THE MEDICAL CENTER'S OFFICERS, DIRECTORS, SENIOR MANAGEMENT AND DEPARTMENT CHAIRS. 425000 425000 1325000 1324941 59 5022 5022 0 425059 PRIVATE EQUITY 3911565 F HEDGE FUND 484238 F 4395803 0 DUE TO AFFILIATES 39958 39958 3378097 2569803 2569803 808294 98802 98802 907096 881907 881907 98802 98802 980709 PART X - OTHER LIABILITIES, LINE 2 FIN 48 FOOTNOTE THERE WAS NO LIABILITY FOR UNCERTAIN TAX POSITIONS UNDER FIN 48, MAKING THE FOOTNOTE UNNECESSARY. Central America and the Caribbean 0 0 Investments 1849319 0 0 0 0 1849319 1849319 true false true false false false true MAIMONIDES MEDICAL CENTER 4802 TENTH AVE BROOKLYN NY 11219 111635081 501(C)(3) 486728 N/A N/A MEDICAL RESEARCH 1 0 PART I - GENERAL INFORMATION ON GRANTS AND ASSISTANCE, LINE 2 Investigator-initiated research grant applications are submitted by employees of Maimonides Medical Center. The applicants are all screened and ranked by a Grants Committee. Grants are awarded, based on rankings, after review by the Foundation's Board of Directors. The grants are monitored for compliance by the Board's Medical Director. Progress reports must be prepared for each project and are monitored for compliance. false true false false false false true false false PATRICK BORGEN MD PRESIDENT/MEDICAL DIRECTOR 0 1987489 0 0 0 4572 0 24908 0 41331 0 2058300 0 0 KENNETH GIBBS DIRECTOR 0 1258857 0 0 0 498700 0 26442 0 31128 0 1815127 0 0 JOHN MARSHALL MD DIRECTOR 0 1081522 0 0 0 341912 0 24658 0 42764 0 1490856 0 0 LAURIE WEINSTEIN SECRETARY 0 864524 0 0 0 224183 0 26441 0 30978 0 1146126 0 0 DAVID COHEN MD DIRECTOR 0 744957 0 0 0 194965 0 26441 0 18571 0 984934 0 0 AFSHIN RAZI MD DIRECTOR 0 597416 0 90000 0 552 0 23645 0 44734 0 756347 0 0 JEFFREY AVNER MD DIRECTOR 0 593220 0 75000 0 2376 0 24728 0 28528 0 723852 0 0 ARIEL SCHULMAN MD DIRECTOR 0 582585 0 0 0 346 0 21554 0 10027 0 614512 0 0 ANTHONY KALLOO MD DIRECTOR THRU 12/24 0 466155 0 0 0 2858 0 22817 0 3988 0 495818 0 0 SERGEY MOTOV MD DIRECTOR 0 434604 0 0 0 552 0 24045 0 41684 0 500885 0 0 MONICA GHITAN MD DIRECTOR THRU 6/24 0 354044 0 0 0 992 0 19298 0 20607 0 394941 0 0 EDMUND SCHMIDT DIRECTOR 0 351312 0 0 0 2903 0 23837 0 2215 0 380267 0 0 YU SHAI LIN MD DIRECTOR 0 309849 0 0 0 1032 0 21857 0 44184 0 376922 0 0 JUAN KUPFERMAN MD DIRECTOR AS OF 9/24 0 329531 0 20900 0 1462 0 21189 0 3728 0 376810 0 0 SCHEDULE J SUPPLEMENTAL INFORMATION PART I, LINE 4B - THE MAIMONIDES MEDICAL CENTER SUPPLEMENTAL EXECUTIVE BENEFIT PLAN (THE "SEBP PLAN"), AS AMENDED FROM TIME TO TIME, WAS EFFECTIVE AS OF JANUARY 1, 2006. TO PARTICIPATE, AN EMPLOYEE MUST HOLD THE TITLE OF PRESIDENT, EXECUTIVE VICE PRESIDENT, SENIOR VICE PRESIDENT OR VICE PRESIDENT. THE SEBP PLAN PROVIDES FOR AN ANNUAL EMPLOYER CONTRIBUTION OF 6.5% OF COMPENSATION IN EXCESS OF THE AMOUNTS WHICH CAN BE RECOGNIZED BY THE MAIMONIDES MEDICAL CENTER TAX DEFERRED RETIREMENT PLAN PURSUANT TO CODE SECTION 401(a)(17). THE PARTICIPANT MUST BE AN ELIGIBLE EMPLOYEE ON THE LAST DAY OF THE CALENDAR YEAR TO RECEIVE THE CONTRIBUTION FOR THAT YEAR. IN ACCORDANCE WITH TERMS OF THE SEBP PLAN, THE FOLLOWING PERSONS RECEIVED AN ANNUAL EMPLOYER CONTRIBUTION IN 2024. KENNETH GIBBS - $60,174 JOHN MARSHALL, MD - $35,425 LAURIE WEINSTEIN, ESQ - $34,450 DAVID COHEN, MD - $26,507 EDMUND SCHMIDT - $527 THE MAIMONIDES MEDICAL CENTER SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN FOR CHIEF EXECUTIVE OFFICER AND EXECUTIVE VICE PRESIDENTS (THE "SERP PLAN"), AS AMENDED FROM TIME TO TIME, WAS EFFECTIVE AS OF JANUARY 1, 2012. TO PARTICIPATE, AN EMPLOYEE MUST HOLD THE TITLE OF CEO OR EVP, BE A KEY EMPLOYEE WITHIN THE MEANING OF THE INTERNAL REVENUE CODE AND BE DESIGNATED AS A PARTICIPANT BY THE COMPENSATION COMMITTEE OF THE BOARD. THE SERP PLAN PROVIDES FOR AN ANNUAL EMPLOYER ACCRUED CONTRIBUTION OF 20% OF BASE SALARY FOR THAT CALENDAR YEAR INCLUDING INTEREST OF 4.5%. THE PARTICIPANT MUST BE AN ELIGIBLE EMPLOYEE ON THE LAST DAY OF THE CALENDAR YEAR TO ACCRUE THE CONTRIBUTION FOR THAT YEAR. THE SERP PLAN PROVIDES THAT THE MEDICAL CENTER'S COMPENSATION COMMITTEE MAY APPROVE AN ANNUAL SUPPLEMENTAL SERP CONTRIBUTION FOR THE CEO UP TO 10% OF BASE SALARY FOR EACH PLAN YEAR AFTER 2017. THE COMPENSATION COMMITTEE APPROVED A SUPPLEMENTAL 10% CONTRIBUTION FOR THE CEO FOR THE YEARS 2018 THROUGH 2024. IN ACCORDANCE WITH TERMS OF THE SERP PLAN, VESTED BENEFITS WERE PAID OUT IN 2024 TO THE FOLLOWING PARTICIPANTS. KENNETH GIBBS - $398,380 JOHN MARSHALL, MD - $304,552 LAURIE WEINSTEIN, ESQ - $182,875 DAVID COHEN, MD - $157,334 THE AMOUNT OF SUPPLEMENTAL NONQUALIFIED DEFERRED COMPENSATION IS INCLUDED IN THE COMPENSATION AMOUNT DISCLOSED IN PART II, COLUMN (B)(III). THE COMPENSATION COMMITTEE OF THE BOARD REVIEWED AND APPROVED ALL PAYMENTS IN ADVANCE AND CONDUCTED ITS REVIEW AND APPROVAL PROCESS IN A MANNER INTENDED TO QUALIFY FOR THE REBUTTABLE PRESUMPTION OF REASONABLENESS UNDER SECTION 4958 OF THE INTERNAL REVENUE CODE. MAIMONIDES RESEARCH AND DEVELOPMENT FOUNDATION DID NOT PAY COMPENSATION OR BENEFITS. THE COMPENSATION OR BENEFITS WERE PAID BY MAIMONIDES MEDICAL CENTER, THE RELATED ORGANIZATION. PART I, LINE 6B - THE RELATED ORGANIZATION PAYS, PURSUANT TO INDIVIDUAL EMPLOYMENT CONTRACT AGREEMENTS, A PORTION OF FACULTY PRACTICE EARNINGS, NET OF EXPENSES. FORM 990, PART VI, SECTION A, LINE 2 STEVEN EISENSTADT IS MARVIN EISENSTADT'S SON. FORM 990, PART VI, SECTION A, LINE 7A THE CHAIRMAN OF THE BOARD OF TRUSTEES OF MAIMONIDES MEDICAL CENTER, OR HIS DESIGNEE, SERVES AS A DIRECTOR OF THE BOARD OF DIRECTORS. AT LEAST ONE MORE THAN THAT NUMBER WHICH CONSTITUTES A QUORUM OF THE BOARD OF DIRECTORS, CONSISTS OF PERSONS WHO ARE TRUSTEES ON THE BOARD OF TRUSTEES OF MAIMONIDES MEDICAL CENTER, OR ARE OFFICERS, SENIOR MANAGEMENT EMPLOYEES OR DEPARTMENT CHAIRS AT MAIMONIDES MEDICAL CENTER. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FORM 990 IS REVIEWED BY THE OUTSIDE TAX PREPARER WHO SIGNS OFF ON THE RETURN. THE REVIEWED RETURN AND ATTACHMENTS ARE THEN PRESENTED TO THE PRESIDENT OF THE ORGANIZATION AND THE FINANCE AND AUDIT COMMITTEE OF THE BOARD OF TRUSTEES TO WHOM THE RESPONSIBILITY FOR REVIEWING THE FORM 990 HAS BEEN DELEGATED FOR THEIR COMMENTS AND QUESTIONS PRIOR TO FILING. UPON THEIR FINAL REVIEW A COMPLETE COPY OF THE FORM 990 IS PROVIDED TO THE ENTIRE BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C IT IS THE RESPONSIBILITY OF ALL TRUSTEES, OFFICERS AND MEMBERS OF THE MEDICAL STAFF TO FAMILIARIZE THEMSELVES WITH THE CONFLICTS OF INTEREST POLICY AND TO COMPLY AND ENSURE COMPLIANCE OF FAMILY MEMBERS WHERE APPLICABLE. THEY ARE REQUIRED TO DISCLOSE IN DETAIL ANY ACTIVITIES OR INTEREST WHICH MAY BE A CONFLICT OF INTEREST WITH THE MAIMONIDES RESEARCH AND DEVELOPMENT FOUNDATION'S BEST INTEREST BY ANNUALLY COMPLETING A CONFLICT OF INTEREST CERTIFICATE. ANY CONFLICTS OF INTEREST AND OTHER POTENTIALLY IMPROPER ACTIVITIES ARE REVIEWED BY THE CHAIRMAN AND PRESIDENT. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S ARTICLES OF INCORPORATION MAY BE OBTAINED FROM THE NYS SECRETARY OF STATE'S OFFICE. THEY ARE ALSO AVAILABLE TOGETHER WITH THE BY-LAWS UPON SPECIAL REQUEST TO THE EXECUTIVE OFFICE OF MAIMONIDES MEDICAL CENTER AT 4802 TENTH AVE, ADMIN BLDG, 2ND FLOOR, BROOKLYN, NY 11219. THE AUDITED FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST TO THE MEDICAL CENTER'S EXECUTIVE OFFICE AND ARE POSTED ON THE NYS CHARITABLE BUREAU WEBSITE, OAG.STATE.NY.US. 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