2017-05-11T10:06:51-05:00 2016-06-30 ERNST & YOUNG US LLP 5 TIMES SQUARE NEW YORK NY 10036 990 2015-07-01 911943271 MMC RESIDENTIAL CORP I Inc % EVAN RESNICK MMCR 9143498474 3411 Wayne Avenue Bronx NY 104672401 CHRISTOPHER S PANCZNER SECRETARY 9143498455 2017-05-09 true CHRISTOPHER B BOGGS P00032493 2127733000 2015 2021-01-29 14:40:06Z EDWARD PFLEGING 111 EAST 210TH STREET BRONX NY 104672401 2525781 false X N/A X 1995 NY MMC RESIDENTIAL CORP. I, INC. PROVIDES HOUSING TO MEDICAL RESIDENTS OF MONTEFIORE MEDICAL CENTER TO ENSURE THE CONTINUITY OF CARE TO THE PATIENTS SERVED. 3 0 5 0 0 0 0 2457843 2513181 0 0 12600 12600 2470443 2525781 0 0 0 0 251447 262517 0 0 0 1162361 1295734 1413808 1558251 1056635 967530 3265161 3084698 2882178 1734185 382983 1350513 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. false false MMC RESIDENTIAL CORP. I, INC. OWNS AND OPERATES A RENTAL APARTMENT BUILDING NEAR MONTEFIORE MEDICAL CENTER, AN ACADEMIC MEDICAL CENTER, WHOSE MISSION IS TO HEAL, TO TEACH, TO DISCOVER AND TO ADVANCE THE HEALTH OF THE COMMUNITIES IT SERVES. MMC RESIDENTIAL CORP. I, INC. PROVIDES HOUSING TO THE MEDICAL CENTER'S MEDICAL RESIDENTS SO THEY CAN RESIDE NEAR THE MEDICAL CENTER TO PROVIDE THE REQUIRED MEDICAL CARE. false false false false false false false true false true false false true false false false true false false false false false false false false false false false true false false false false false false false false false false false true true true false true X 3 0 true 5 true false false false false false false X 3 0 false false false false true true true true true false false true true true true true true false false false NY X EVAN RESNICK 9143498455 555 SOUTH BROADWAY BLDG A FL 1 TARRYTOWN NY 105916301 EDWARD PFLEGING PRESIDENT 1.0 59.0 X X 0 628249 49705 DAVID INGBER TREASURER (RESIGNED 11/04/16) 1.0 59.0 X X 0 663616 51011 CHRISTOPHER S PANCZNER SECRETARY 1.0 59.0 X X 0 1110865 232140 0 2402730 332856 0 false true false SECURITAS SECURITY SERVICES USA IN PO BOX 403412 ATLANTA GA 303843412 SECURITY 209103 1 0 RENTAL INCOME 531110 2513181 2513181 2513181 0 0 0 0 0 0 0 0 0 0 LAUNDRY ROOM INCOME 812300 12600 12600 12600 2525781 2525781 0 0 0 0 0 0 201114 0 46167 15236 61515 540 0 0 0 0 153992 0 6396 0 0 886568 0 0 0 0 0 186723 0 1558251 0 0 565310 221352 0 0 15388 11774 0 0 0 0 0 0 0 0 293435 440111 7778384 5660997 2276997 2117387 0 0 0 0 0 0 0 0 114031 294074 3265161 3084698 449818 526652 0 0 0 0 0 0 11413 9007 0 0 1276864 1198526 0 0 1144083 0 2882178 1734185 X 382983 1350513 0 0 0 0 382983 1350513 3265161 3084698 967530 X false true X true false false true X 225000 225000 5392320 3974549 1417771 2130597 1671447 459150 30468 15002 15466 2117387 REPLACEMENT RESERVE ESCROW FUN 124718 DEFERRED FINANCING COSTS 7033 DUE FROM MEMBER MMC 153316 TENANT SECURITY DEPOSITS 9007 294074 SCHEDULE D, PART IV, LINE 2B MMC Residential Corp. I, Inc. holds security deposits from tenants in an escrow account pursuant to the individual lease agreements between the tenants and the organization. These deposits are returned to the tenants once they vacate their apartment, less any amounts due from tenants for damages or unpaid rent. false true false EDWARD PFLEGING PRESIDENT 0 482695 0 112000 0 33554 0 17000 0 32705 0 677954 0 0 DAVID INGBER TREASURER (RESIGNED 11/04/16) 0 547161 0 109423 0 7032 0 17000 0 34011 0 714627 0 0 CHRISTOPHER S PANCZNER SECRETARY 0 697112 0 392200 0 21553 0 232140 0 0 0 1343005 0 0 Part I, Line 4B & Part II-Col (C) As it related to the compensation from Montefiore Health System, Inc. The 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. OTHER REPORTABLE COMPENSATION IN PART II COLUMN B(ii) INCLUDES DISTRIBUTIONS FROM THE SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN. 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. Christopher S. Panczner - Accrued and unpaid service costs of $215,540. THE TRUSTEES AND OFFICERS LISTED IN PART II ARE NOT EMPLOYEES OF THIS FILING ORGANIZATION, MMC RESIDENTIAL CORP., I, INC. THESE INDIVIDUALS ARE EMPLOYED AND THEIR COMPENSATION IS PAID BY MONTEFIORE HEALTH SYSTEM, INC. EIN 20-1615393. Form 990, Part IV, Line 12B: THE FINANCIAL INFORMATION REPORTED IN THE FORM 990 IS FOR THE FISCAL YEAR BEGINNING JULY 1, 2015 AND ENDED JUNE 30, 2016. THE FIRST SIX MONTHS (JULY THROUGH DECEMBER 2015) 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, 2015. THE SECOND SIX MONTHS (JANUARY THROUGH JUNE 2016) WERE INCLUDED IN THE CONSOLIDATED AUDITED FINANCIAL STATEMENTS OF MONTEFIORE MEDICAL CENTER FOR THE YEAR ENDED DECEMBER 31, 2016. FORM 990, PART V, LINE 2A: ALL EMPLOYEES ARE PAID BY MONTEFIORE MEDICAL CENTER, EIN 13-1740114, THE COMMON PAYMASTER. MONTEFIORE MEDICAL CENTER ISSUES ALL W-2S. SALARIES ARE DIRECTLY ALLOCATED TO MMC RESIDENTIAL CORP. I, INC. ALL FEDERAL EMPLOYMENT TAX RETURNS ARE FILED BY MONTEFIORE MEDICAL CENTER, THE COMMON PAYMASTER. 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 MAKE THE GOVERNANCE DECISIONS OF THE ORGANIZATION INCLUDING: APPROVING THE OPERATING AND CAPITAL BUDGETS; TO FIX THE SIZE OF THE ORGANIZATIONSS BOARD OF TRUSTEES; REMOVE TRUSTEES AND DIRECTORS; AMEND, REPEAL AND RESTATE THE ORGANIZATIONS BYLAWS; THE APPOINTMENT OF EXECUTIVE AND OTHER COMMITTEES; AUTHORIZE ANY OFFICER OR AGENT TO TAKE ANY ACTION AND TO ENTER INTO ANY CONTRACT, EXECUTE AND DELIVER ALL KINDS OF INSTRUMENTS INCLUDING CHECKS, NOTES, DRAFTS AND BILLS OF EXCHANGE IN THE NAME OF THIS ORGANIZATION. 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 ITS CORPORATE CONTROLLER AND 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, Line 15A & 15B: THE OFFICERS PRESENTED IN PART VII AND SCHEDULE J ARE NOT EMPLOYED AND PAID BY THE ORGANIZATION AND for calendar year 2015 ARE EMPLOYED AND PAID BY MONTEFIORE HEALTH SYSTEM, INC., EIN 20-1615393. MONTEFIORE HEALTH SYSTEM, INC. 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 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. IN ADDITION, THE ORGANIZATIONS FINANCIAL DATA AND TAX RETURNS ARE READILY AVAILABLE TO THE PUBLIC ON WWW.GUIDESTAR.ORG AND WWW.CHARITIESNYS.COM MONTEFIORE HOSP HOUSING SECTION IIINC 3450 WAYNE AVENUE BRONX NY 104672510 237160641 STAFF HOUSING NY 501(C)(2) M MEDICL CTR true MMC CORPORATION 111 EAST 210TH STREET BRONX NY 104672401 133430322 REAL ESTATE NY 501(C)(3) 11A TYPE I M MEDICL CTR true MOSHOLU PRESERVATION CORPORATION 3400 RESERVIOR OVAL EAST BRONX NY 104673102 133109387 COMMUNITY SER NY 501(C)(3) 11B TYPE II M MEDICL CTR true GUN HILL MRI PC 200 EAST GUN HILL ROAD BRONX NY 104672159 133734486 DIAG SERVICES NY 501(C)(3) 11A TYPE I M MEDICL CTR true MONTEFIORE HEALTH SYSTEM INC 555 SOUTH BROADWAY TARRYTOWN NY 105916301 201615393 SYSTEM SERVCS NY 501(C)(3) 11B TYPE II MMAHS INC true MONTEFIORE NORTH AMBULATORY CARE CTR INC 4234 BRONX BOULEVARD BRONX NY 104662668 010796859 HEALTH SVCS NY 501(C)(3) 3 MH SYSTM INC true MONTEFIORE NEW ROCHELLE HOSPITAL 16 GUION PLACE NEW ROCHELLE NY 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