2015-08-17T07:53:08-05:00 2014-09-30 PricewaterhouseCoopers LLP 125 High Street Boston MA 02110 990 2013-10-01 042785453 FOUNDATION OF THE MASSACHUSETTS EYE AND EAR INFIRMARY INC % PHILLIP C JOHNSON FOUN 6175733942 243 CHARLES STREET Suite BOSTON MA 02114 CAROLANN WILLIAMS CFO & VP FIN AND ADMIN 6175733105 2015-08-04 true ERIN COUTURE P01390592 6175733105 2013 2016-03-07 17:11:31Z JOHN FERNANDEZ 243 CHARLES STREET BOSTON MA 02114 99853266 false X WWW.MASSEYEANDEAR.ORG X 1983 MA SEE SCHEDULE O. 21 19 0 18 -37015 -72595 17969359 16441403 0 0 7467834 8858061 521866 533302 25959059 25832766 14267985 17062243 0 0 0 0 0 0 0 1494538 1826031 15762523 18888274 10196536 6944492 203158036 202815766 52777267 45995057 150380769 156820709 X SEE SCHEDULE O. false false 17674588 17062243 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. 17674588 true true false false false false false false false true false true false true true true false true false false true false false false 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 18 1 0 true true false false false false true true false false false false X 21 19 false false false false false false false true true false false true true true true true true false false false MA NY X PHILLIP C JOHNSON 6175733105 243 CHARLES STREET BOSTON MA 02114 X JOHN R FERNANDEZ PRESIDENT 10.0 50.0 X X 0 793469 207663 WYCLIFFE GROUSBECK CHAIR 3.0 7.0 X X 0 0 0 JONATHAN UHRIG TREASURER 3.0 7.0 X X 0 0 0 RICHARD H ALDRICH DIRECTOR 2.0 2.0 X 0 0 0 DEWALT PETE ANKEY DIRECTOR 2.0 6.0 X 0 0 0 JAMES CARLISLE DIRECTOR 2.0 2.0 X 0 0 0 CHARLES DE GUNZBURG DIRECTOR 2.0 6.0 X 0 0 0 SAMUEL FLEMING DIRECTOR 2.0 2.0 X 0 0 0 HARVEY FREISHTAT DIRECTOR 2.0 2.0 X 0 0 0 LYLE HOWLAND DIRECTOR 2.0 2.0 X 0 0 0 DIANE E KANEB DIRECTOR 2.0 2.0 X 0 0 0 JONATHAN KUTCHINS DIRECTOR 2.0 4.0 X 0 0 0 VICTORIA MCCULLOUGH DIRECTOR 2.0 6.0 X 0 0 0 JOAN W MILLER MD DIRECTOR 2.0 58.0 X 0 765352 58725 JOSEPH B NADOL JR MD DIRECTOR (until 2/28/2014) 2.0 58.0 X 0 773544 58846 ANNETTE NOVA DIRECTOR 2.0 6.0 X 0 0 0 WILLIAM ROMAN DIRECTOR 2.0 2.0 X 0 0 0 FREDERICK THORNE DIRECTOR 2.0 2.0 X 0 0 0 KATHRYN VECELLIO DIRECTOR 2.0 6.0 X 0 0 0 EUGENE HILL DIRECTOR 2.0 2.0 X 0 0 0 D BRADLEY WELLING MD DIRECTOR (effective 3/1/2014) 2.0 4.0 X 0 0 0 ROBERT ATCHINSON DIRECTOR (effective 3/4/14) 2.0 2.0 X 0 0 0 LILY H BENTAS SECRETARY (UNTIL 4/29/14) 3.0 7.0 X 0 0 0 MAUREEN KELLEY ASSISTANT SECRETARY 3.0 57.0 X 0 184820 30228 CAROLANN WILLIAMS CFO & VP FINANCE AND ADMIN 3.0 57.0 X 0 366768 11715 MARTHA PYLE FARRELL Assistant Secretary 3.0 57.0 X 0 0 0 SUSAN WILLIAMS Former Assistant Secretary X 0 229297 8955 0 3113250 376132 0 true true false CAMBRIDGE ASSOCIATES 125 HIGH STREET BOSTON MA 02110 INVESTMENT CONSULTNT 334439 1 2213451 400000 13827952 3038593 16441403 0 1360300 -37015 1397315 0 0 0 0 0 81094244 73596483 7497761 7497761 7497761 101249 2213451 424017 -322768 -322768 0 0 GAIN ON BENEFICIAL INTEREST IN TRUSTS 856070 856070 856070 25832766 -37015 9428378 16821293 16821293 240950 240950 0 0 0 0 0 0 0 0 0 0 0 76474 76474 0 0 510960 510960 24346 24346 0 15456 15340 116 0 0 0 67775 67775 0 0 0 0 0 0 REIMB/MEEI/EMP BENEFITS 538528 538528 MISCELLANEOUS 453559 452966 593 FOOD 51918 51918 BANK FEE 87015 87015 18888274 17674588 1213686 0 863986 644124 0 0 8943048 11650940 0 0 0 0 0 0 0 0 0 0 0 0 0 66930504 72130475 107392717 98719709 0 0 0 0 19027781 19670518 203158036 202815766 75317 191415 0 0 0 0 0 0 0 0 0 0 0 0 0 0 52701950 45803642 52777267 45995057 X 53386061 54317593 39271922 41635933 57722786 60867183 150380769 156820709 203158036 202815766 X 6944492 -504552 X false true X true false X 6228576 7847609 8066534 17869359 16441403 56453481 0 0 6228576 7847609 8066534 17869359 16441403 56453481 3696306 52757175 1216632 676409 1349835 1241363 1360300 5844539 0 244740 33185 8587 0 286512 1641648 871255 856070 3368973 65953505 0.79992 0.75946 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 87204661 746394 5114694 12790645 1763453 78511651 89724541 2692680 3521682 7238559 1495683 87204661 86399272 1269332 6139492 2803513 1280042 89724541 60472244 29640100 1622561 4005052 1330581 86399272 60355993 736023 4138384 3579845 1178311 60472244 0.06240 0.66520 0.27240 false false INVSTMNT IN LIMITED PARTNERSHP 37089853 C FIXED INCOME INVESTMENTS 8176913 C CLOSELY HELD EQUITIES 53002943 C OTHER 450000 C 98719709 BENEFICIAL INTEREST IN TRUSTS 16255998 REMAINDER INTEREST-CHAR TRUST 414520 INTEREST IN PROFESSORSHIP 3000000 19670518 0 CHAR GIFT ANNUITY & UNITRUST PAYABLE 618692 DUE TO AFFILIATES 45184950 45803642 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, 2014. true Europe (Including Iceland and Greenland) Program Services CONFERENCE/EDUCATION 14200 North America Program Services CONFERENCE/EDUCATION 1597 East Asia and the Pacific Program Services CONFERENCE/EDUCATION 4106 Middle East and North Africa Program Services CONFERENCE/EDUCATION 3968 South America Program Services CONFERENCE/EDUCATION 19960 Central America and the Caribbean Investments 42955725 42999556 42999556 true false true true true false The Organization identifies foreign expenditures separately on its books and records. X X X X X true ME MA NY SENSE-ATION 1224386 1150707 73679 0 114919 500 140452 GOLF 244300 216730 27570 2000 50538 0 32456 1 846014 846014 0 0 0 83152 2314700 2213451 101249 2000 165457 500 256060 424017 -322768 true MASSACHUSETTS EYE AND EAR INFIRMARY 243 CHARLES STREET BOSTON MA 02114 042103591 501(C)(3) 13777170 FMV N/A MASSACHUSETTS EYE AND EAR ASSOCIATES INC 243 CHARLES STREET BOSTON MA 02114 222658209 501(C)(3) 2896087 FMV N/A SCHEPENS EYE RESEARCH INSTITUTE INC 20 STANIFORD STREET BOSTON MA 02114 042129889 501(C)(3) 97734 FMV N/A NEW ENGLAND EYE CENTER 800 Washington Street Boston MA 02111 043400617 501(c)(3) 25151 FMV N/A MASS LIONS RESEARCH LAB AT BU 88 East Concord Street Boston MA 02118 042103547 501(c)(3) 25151 FMV N/A 5 FREE MEDICAL CARE FOR INDIVIDUALS 4032 240950 FMV N/A SCHEDULE I, PART I, LINE 2: THE FOUNDATION IS THE PARENT OF THE INFIRMARY 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. true true false false false false false false false JOHN R FERNANDEZ PRESIDENT 0 694419 0 98240 0 810 0 184446 0 23217 0 1001132 0 0 JOAN W MILLER MD DIRECTOR 0 672191 0 73339 0 19822 0 35115 0 23610 0 824077 0 0 JOSEPH B NADOL JR MD DIRECTOR (until 2/28/2014) 0 705204 0 36150 0 32190 0 35115 0 23731 0 832390 0 0 SUSAN WILLIAMS Former Assistant Secretary 0 116502 0 0 112795 0 3015 0 5940 0 238252 0 0 MAUREEN KELLEY ASSISTANT SECRETARY 0 179931 0 4500 0 389 0 7773 0 22455 0 215048 0 0 CAROLANN WILLIAMS CFO & VP FINANCE AND ADMIN 0 330066 0 36193 0 509 0 10081 0 1634 0 378483 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 4A: In connection with her departure effective August 7, 2013, Susan Williams received 6 months of salary continuation. Amounts paid under this agreement in 2013 of $83,393 are included in part ii, column b(iii). 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 $150,000 for CALENDAR YEAR 2013. 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. X 54 3038593 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 DIRECTOR FINANCE OPERATIONS OF THE INFIRMARY. 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. 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 PATRIENT 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 true false false false false false false false false true true true true true false false true EMBANKMENT SERVICES INC C 50000 CASH MASSACHUSETTS EYE AND EAR INFIRMARY B 13777169 CASH MASSACHUSETTS EYE AND EAR ASSOCIATES INC B 2896087 CASH SCHEPENS EYE RESEARCH INSTITUTE INC B 97734 CASH CIRCLE COMPANY INC C 350000 CASH MASSACHUSETTS EYE AND EAR INFIRMARY M 1847926 CASH MASSACHUSETTS EYE AND EAR INFIRMARY O 538528 CASH MASSACHUSETTS EYE AND EAR ASSOCIATES INC S 6007609 CASH MASSACHUSETTS EYE AND EAR INFIRMARY P 4150661 CASH MASSACHUSETTS EYE AND EAR INFIRMARY N