2014-11-17T15:48:52-06:00 2013-12-31 Charles A Barragato & Co LLP 950 Third Avenue - 20th FL New York NY 10022 990 2013-01-01 112626155 Interfaith Medical Center Inc % ROBERT MARIANI INTE 7186134000 1545 Atlantic Avenue Suite Brooklyn NY 11213 ROBERT MARIANI SVP & CFO 7186134003 2014-11-15 true Angelo Pirozzi CPA P00446022 7186134003 2013 2015-11-30 17:44:51Z Patrick Sullivan 1545 ATLANTIC AVENUE BROOKLYN NY 11213 174759706 false X WWW.INTERFAITHMEDICAL.COM X 1984 NY INTERFAITH MEDICAL CENTER'S MISSION IS TO PROVIDE EXCEPTIONAL PATIENT SERVICE THROUGH PREVENTION, EDUCATION AND TREATMENT IN A SAFE ENVIRONMENT. 4 2 1850 45 0 3299515 3621751 172969100 162468048 3204628 1942030 3716177 6727877 183189420 174759706 0 0 0 0 137587196 138260912 0 0 0 68632707 63607668 206219903 201868580 -23030483 -27108874 157084047 128353130 361608066 345825742 -204524019 -217472612 INTERFAITH MEDICAL CENTER'S MISSION IS TO PROVIDE EXCEPTIONAL PATIENT SERVICE THROUGH PREVENTION, EDUCATION AND TREATMENT IN A SAFE ENVIRONMENT. false false 185506518 168641782 INTERFAITH MEDICAL CENTER, INC. ("IMC") PROVIDES A WIDE RANGE OF COMPREHENSIVE INPATIENT AND OUTPATIENT MEDICAL, SURGICAL, GYNECOLOGICAL, PSYCHIATRIC AND PEDIATRIC CARE SERVICES THROUGHOUT THE CENTRAL BROOKLYN, NEW YORK AREA. IMC ALSO PROVIDES TERTIARY HEALTHCARE SERVICES, INCLUDING RENAL DIALYSIS, MEDICAL ONCOLOGY SERVICES, NUCLEAR MEDICINE AND RADIATION ONCOLOGY. AMBULATORY, PODIATRIC AND DENTAL SERVICES ARE ALSO AVAILABLE. IN DECEMBER 2012, IMC FILED A VOLUNTARY PETITION SEEKING PROTECTION UNDER CHAPTER 11 OF THE U.S. BANKRUPTCY CODE AND COMMENCING AS CASE IN THE UNITED STATES BANKRUPTCY COURT FOR THE EASTERN DISTRICT OF NEW YORK. IN CONNECTION WITH THE ORDER ENTERED BY THE BANKRUPTCY COURT, IN SEPTEMBER 2013, THE DORMITORY AUTHORITY OF THE STATE OF NEW YORK AGREED TO PROVIDE IMC WITH DEBTOR IN POSSESSION FINANCING. 185506518 true true false true false false false false false true true false false true true false true false false false false false false false false false true true false false true true false false false false false false false false false false false false false false false true true true false false true 94 0 true 1850 true false false false false false false false false false false X 4 2 false true false false false false false true true false false false true true true true true true true false NY X ROBERT MARIANI 7186134003 1545 ATLANTIC AVENUE BROOKLYN NY 11213 Nathan M Barotz Esq Chairman - 1/1/13-3/30/13 5.0 0.0 X X 0 0 0 Canon Diane M Porter Board Member/DIR COMM AFFAIRS 5.0 35.0 X X 18321 72000 0 Charles Grannum DMD Treasurer 20.0 0.0 X X 111586 0 0 James Philips Vice Chairman 5.0 0.0 X X 0 0 0 Albert Wiltshire Chairman 5.0 0.0 X X 0 0 0 BRENDA BENNETT BOARD MEMBER - 1/1/13-6/30/13 5.0 0.0 X 0 0 0 Luis Hernandez CEO - 1/1/13 - 7/1/13 40.0 0.0 X 135498 0 0 Patrick Sullivan COO AND INTERIM CEO 40.0 0.0 X 383875 0 0 Robert Mariani SVP & CFO 40.0 0.0 X 383875 0 0 Pradeep Chandra CMO 40.0 0.0 X 432700 0 0 GWENDOLYN LEWIS CNO 40.0 0.0 X 105772 0 0 PATRICIA CAHILL CNO - 1/1/13 - 7/1/13 40.0 0.0 X 238477 0 0 Valcy Etienne Chair Anesthesia 40.0 0.0 X 325400 0 0 TITUS OKUNLOLA CHAIRMAN, PSYCHIATRY 40.0 0.0 X 308148 0 0 MOHAMMED EL-DAKKAK DIRECTOR, ORTHOPEDICS 40.0 0.0 X 297390 0 0 STACEY SMITH ASST DIR, ANESTHESIOLOGY 40.0 0.0 X 270824 0 0 CHARLES LAWRENCE INTERIM CHAIR, ED 40.0 0.0 X 259896 0 0 3271762 72000 0 231 false true false ADVANCED MEDICAL STAFFING CORP 331 RUTLEDGE STREET SUITE 204 BROOKLYN NY 11211 NURSING & CLINICAL 2553606 SECURITAS SECURITY SERVICES USA IN PO BOX 403412 ATLANTA GA 303843412 SECURITY SERVICES 2255536 Willkie Farr and Gallagher LLP 787 Seventh Avenue NEW YORK NY 10019 legal services 2484939 COHN REZNICK 1212 AVENUE OF THE AMERICAS NEW YORK NY 10036 BUSINESS CONSULTING 1573326 SODEXHO INC AFFILIATES PO BOX 360170 PITTSBURGH PA 152516170 DIET & HOUSEKEEPING 2001524 35 3172725 449026 3621751 NET PATIENT SERVICE REVENUE 621990 167940359 167940359 PROVISION FOR BAD DEBTS-SEE SCHEDULE O 621990 -5472311 -5472311 162468048 1942030 1942030 0 0 436601 436601 0 436601 436601 0 0 0 0 MEDICAL RESIDENT/STUDENT TRAINING 900099 2451145 2451145 MEANINGFUL USE INCOME 900099 3269854 3269854 MISCELLANEOUS REVENUE 900099 570277 452735 117542 6291276 174759706 168641782 2496173 0 0 0 0 1810105 1810105 0 101108725 94364948 6743777 0 9728252 8919709 808543 0 18313062 16791010 1522052 0 7300768 6693980 606788 0 747351 747351 0 829852 760881 68971 0 284058 284058 0 11581 11581 0 0 16945362 15536984 1408378 0 0 2740000 2522889 217111 0 0 0 4403195 4037233 365962 0 75489 69215 6274 0 0 7941 7281 660 0 6944723 6367527 577196 0 0 11329614 11329614 0 6635830 6084307 551523 0 MEDICAL SUPPLIES 8254186 8254186 0 PATIENT FOOD SERVICES 2111293 2111293 0 COLLECTION FEES 1655461 1655461 0 REORGANIZATION ITEMS 631732 631732 0 201868580 185506518 16362062 0 9907 9907 13504574 8103176 1927346 825120 17520951 14584809 0 0 0 0 0 0 606751 465245 359358 306864 165406821 102367150 74248487 63039671 18185000 14152449 0 0 0 0 0 0 30721673 26865889 157084047 128353130 15337304 16942557 0 0 0 0 117784158 117784158 0 0 0 0 8330206 7635457 0 0 220156398 203463570 361608066 345825742 X -205759793 -218707391 126926 125931 1108848 1108848 -204524019 -217472612 157084047 128353130 X -27108874 -562 -489815 14650658 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 11581 11581 false false PART II-B, LINE 1I INTERFAITH MEDICAL CENTER PAYS DUES TO THE GREATER NEW YORK HOSPITAL ASSOCIATION (GNYHA). IN ACCORDANCE WITH SECTION 6033 (E) OF THE INTERNAL REVENUE CODE, AND AS REPORTED BY GNYHA, A PORTION OF THESE DUES ARE ATTRIBUTABLE TO LOBBYING ACTIVITIES. THE LOBBYING ACTIVITIES APPLICABLE TO 2013 GNYHA ANNUAL DUES WAS $10,866. IN CONNECTION WITH COLLECTIVE BARGAINING NEGOTIATIONS BETWEEN INTERFAITH MEDICAL CENTER AND 1199/CEIU, CERTAIN EMPLOYER CONTRIBUTION AMOUNTS THAT GO TO THE LABOR MANAGEMENT INITIATIVE (FORMERLY CALLED THE PLANNING AND PLACEMENT FUND) AND THE JOB SECURITY FUND ARE ALLOCATED TO HEALTHCARE EDUCATION PROJECT(HEP) FOR ITS PROGRAMS, SERVICES, AND ACTIVITIES. A PORTION OF SUCH FUNDS THAT HEP RECEIVES IS USED FOR LOBBYING PURPOSES IN CONNECTION WITH NEW YORK STATE AND FEDERAL POLICY ISSUES. INTERFAITH MEDICAL CENTER'S PRO-RATED SHARE OF HEP LOBBYING EXPENSES FOR 2013 IS $715. 1235774 46 1041 1234779 1269363 1010 34599 1235774 3545715 36761 13389 2299724 1269363 3552000 12261 18546 3545715 3563083 9145213 9156296 3552000 0.90000 0.10000 false false 1305622 1305622 27977813 11006302 16971511 26074784 9172842 16901942 108034709 81751297 26283412 2013893 436709 1577184 63039671 DEFERRED FINANCING COSTS 2009647 OTHER LONG TERM ASSET 2011175 DUE FROM 3RD PARTY PAYORS 6915797 OTHER RECEIVABLES 1040192 INVESTMENT IN HEALTHFIRST 7664989 HEALTHFIRST RETAINED PAYMENTS 5954639 SECURITY DEPOSITS 1269450 26865889 0 DUE TO THIRD PARTY PAYORS 26560201 SELF-INSURED PROFESSIONAL LIAB 10338977 DUE TO IM FOUNDATION 4300000 ACCRUED BOND INTEREST PAYABLE 5877789 LIABILITIES SUBJECT TO COMPROM 137674337 ACCRUED RETIREMENT BENEFITS 6694921 DIP FINANCING 8000000 ESCROW LIABILITY 4017345 203463570 174759144 -562 -562 174759706 174759706 201868580 201868580 201868580 PART V, LINE 4 INTERFAITH MEDICAL CENTER'S ENDOWMENT FUNDS ARE FOR SPECIFIC PURPOSES DEFINED UNDER INTERNAL DESIGNATION OR TERMS OF AGREEMENT. true true true X true X true true true false true true 5398527 14558877 -9160350 0.04540 82273405 72216212 10057193 0.04980 87671932 86775089 896843 0.00440 3676253 0 3676253 0.01820 13732657 7985423 5747234 0.02850 17408910 7985423 9423487 0.04670 105080842 94760512 10320330 0.05110 true 5472311 1658346 28893049 17401835 11491214 X true false 1 1 Interfaith Medical Center Inc 1545 Atlantic Avenue Brooklyn NY 11213 X X X X Interfaith Medical Center Inc true X X X X X X X X 13 true true true X X X X X X X true false true true 100 true 300. true X X X X X X true true X X X X X true false true X false false PART V, SEC B, LINE 4 OTHER HOSPITAL FACILITIES INCLUDE: AW MEDICAL, CONEY ISLAND HOSPITAL, KINGS COUNTY HOSPITAL CENTER, LUTHERAN MEDICAL CENTER, MAIMONIDES MEDICAL CENTER, SUNY DOWNSTATE MEDICAL CENTER, WOODHULL MEDICAL AND MENTAL HEALTH CENTER. 8 BISHOP ORRIS G WALKER JR HEALTH CENTER 528 PROSPECT PLACE BROOKLYN NY 11238 CLINIC PRIMARY CARE DESIG AIDS TREATMENT CENTER 880 BERGEN STREET BROOKLYN NY 11238 AIDS TREATMENT CENTER DENTAL CENTER 1536 BEDFORD AVENUE BROOKLYN NY 11216 DENTAL CLINIC ALTERNATIVE HOUSINGAPT PROGRAM 1366 EAST NEW YORK AVENUE BROOKLYN NY 11233 BEHAVIORAL HEALTH CLINIC METHADONE MAINTENANCE TREATMENT PROGRAM 882 BERGEN STREET BROOKLYN NY 11238 DETOX AND CONSULTATION BEHAVIORAL HEALTH PROGRAM - ADULT CLINIC 1038 BROADWAY BROOKLYN NY 11221 BEHAVIORAL HEALTH CLINIC CONTINUING DAY TREATMENT PROGRAM 1275 BEDFORD AVENUE BROOKLYN NY 11216 DETOX AND CONSULTATION KINGSBORO MEN'S SHELTER 681 CLARKSON AVENUE BROOKLYN NY 11213 SHELTER PART I, LINE 7 INTERFAITH MEDICAL CENTER USES PATIENT COST TO CHARGES RATIO FROM THE NEW YORK STATE DEPARTMENT OF HEALTH INSTITUTIONAL COST REPORT. PART III, LINE 2 THE AMOUNT REPORTED ON LINE 2 IS EQUAL TO THE PROVISION FOR BAD DEBTS PER THE AUDITED FINANCIAL STATEMENTS ("AFS"). THE EXPLANATION OF THE METHODOLOGY USED TO ESTIMATE THIS AMOUNT CAN BE FOUND IN FOOTNOTE 2 ON PAGES 16 AND 17 OF THE ATTACHED AFS. PART III, LINE 4 THE TEXT OF THE FOOTNOTE THAT DESCRIBES BAD DEBT EXPENSE CAN BE FOUND ON PAGES 16 AND 17 OF THE ATTACHED AUDITED FINANCIAL STATEMENTS. PART III, LINE 8 MEDICARE'S COST FINDING IS THE DETERMINATION OF THE ALLOCATION OF DIRECT COSTS AND PRORATION OF INDIRECT COSTS. THE COST REPORT ALLOWS FOR THE ALLOCATION OF GENERAL SERVICE COST CENTERS, INPATIENT ROUTINE SERVICE COST CENTERS, ANCILLARY SERVICE COST CENTERS, OUTPATIENT SERVICE COST CENTERS, OTHER REIMBURSABLE COST CENTERS, SEPCIAL PURPOSE COST CENTERS AND NONREIMBURSABLE COST CENTERS. MOST COST CENTERS ARE ALLOCATED ON DIFFERENT STATISTICAL BASES. AFTER THE ALLOCATION OF THESE COSTS, MEDICARE ALLOWABLE COST IS DERIVED. THE HOSPITAL SERVES PATIENTS WITH GOVERNMENT HEALTH BENEFITS, INCLUDING MEDICARE. MEDICARE IS OUR SECONDARY PAYOR AND HOSPITALS MUST ACCEPT THESE PATIENTS REGARDLESS OF WHETHER THEY MAKE A SURPLUS OR DEFICIT FROM PROVIDING SUCH SERVICES. MEDICARE SERVICES PROMOTE ACCESS TO HEALTH CARE SERVICES. PART III, LINE 9B INTERFAITH MEDICAL CENTER ADOPTS A WRITTEN COLLECTION POLICY TO FOLLOW UP ON SELF PAY ACCOUNTS CONSISTENTLY TO ENSURE MAXIMIZATION OF CASH FLOW AND FOR TIMELY IDENTIFICATION OF BAD DEBT ACCOUNTS. SELF-PAY PATIENTS WILL BE MAILED AN ITEMIZED COPY OF THEIR HOSPITAL BILL, ALONG WITH FINANCIAL ASSISTANCE INFORMATION. PAYMENT IS EXPECTED WITHIN 30 DAYS OF BILLING. IF THE BALANCE CAN NOT BE PAID WITHIN 30 DAYS, THE PATIENT IS ASKED TO CALL THE ACCOUNT REPRESENTATIVE. AFTER ALL OTHER METHODS OF PAYMENT HAVE BEEN EXHAUSTED, A CONTRACT PAYMENT AGREEMENT MAY BE ACCEPTED. A SERIES OF BILLING STATEMENTS ARE MAILED TO THE GUARANTOR WITH EACH MESSAGE PROGRESSIVELY STRONGER. TELEPHONE COLLECTION ACTIVITY OCCURS FOR INPATIENT SELF-PAY ACCOUNTS THAT ARE GREATER THAN $1,000. ONCE THE BILLING STATEMENTS AND FINAL LETTER HAVE BEEN SENT, THE ACCOUNT WILL CYCLE FOR A PRE-COLLECTION LETTER. AFTER 120 DAYS, ANY SELF-PAY ACCOUNTS DETERMINED TO BE UNCOLLECTIBLE WILL BE WRITTEN OFF TO BAD DEBT AND IMMEDIATELY PLACED WITH A COLLECTION AGENCY. PART V, SECTION B, LINE 20D The hospital facility used the Medicaid rates when calculating the maximum amounts that can be charged & no less than $150.00. PART VI, LINE 2 INTERFAITH MEDICAL CENTER RELIES ON DATA PROVIDED BY THE NEW YORK CITY DEPARTMENT OF HEALTH AND MENTAL HYGIENE COMMUNITY HEALTH PROFILES, AND THE NEW YORK STATE DEPARTMENT OF HEALTH. IT HAS BEEN FEDERALLY DESIGNATED AS LOCATED WITHIN A HEALTH PROFESSIONAL SHORTAGE AREA AND MEDICALLY UNDERSERVED AREA. THE HOSPITAL ALSO PARTICIPATES IN HEALTH PLANNING AND EVALUATION COALITIONS IN BROOKLYN, I.E. BHIX - BROOKLYN HEALTH INFORMATION EXCHANGE AND SIMILAR PLANNING GROUPS. PART VI, LINE 3 PATIENT EDUCATION OF ELIGIBILITY OF ASSISTANCE: INTERFAITH MEDICAL CENTER HAS DEVELOPED A FINANCIAL ASSISTANCE POLICY THAT PROVIDES MEDICAL/FINANCIAL ASSISTANCE TO ALL. THE POLICY IS UPDATED ANNUALLY ESPECIALLY THE PORTIONS REGARDING CURRENT FEDERAL POVERTY LEVELS AND THAT INFORMATION IS DISTRIBUTED TO ALL THE REGISTRATION AREAS. A COPY OF THE FINANCIAL ASSISTANCE APPLICATION IS INCLUDED IN THE PATIENT'S REGISTRATION PACKAGE AND EACH UNINSURED PERSON IS ADVISED OF THE PROCESS FOR BECOMING ENROLLED AND IF ELIGIBLE ASSISTANCE IS PROVIDED WITH MEDICAID ENROLLING AT THE FACILITY INFORMATION REGARDING THE FINANCIAL ASSISTANCE POLICY IS POSTED IN THE ADMITTING DEPARTMENT AND AT ALL OUTPATIENT REGISTRATION LOCATIONS. TRANSLATION SERVICES ARE AVAILABLE FOR THOSE FOR WHOM ENGLISH IS NOT THEIR FIRST LANGUAGE. PART VI, LINE 4 INTERFAITH MEDICAL CENTER IS LOCATED IN CENTRAL BROOKLYN, NEW YORK. WE PROVIDE SERVICE TO PEOPLE THROUGHOUT KINGS COUNTY AND EVEN INTO THE SURROUNDING BOROUGHS OF NEW YORK CITY HOWEVER OUR PRIMARY SERVICE AREA COVERS ZIP CODES: 11212, 11213, 11221, 11233, 11238 AND THE SECONDARY SERVICE ZIP CODES ARE: 11203, 11206, 11207,11208, 11217, 11221, 11225, AND 11226. OUR SERVICE AREA HAS A POPULATION OF NEARLY 900,000 WITH APPROXIMATELY IN THE PRIMARY 5 ZIP CODES. THE ETHNIC COMPOSITION IS 80% AFRICAN-AMERICAN OR CARIBBEAN AMERICAN, 11% HISPANIC, 5% WHITE AND 4% OTHER. NEARLY 1 IN 3 OR 31% LIVE BELOW THE POVERTY LEVEL. PART VI, LINE 5 INTERFAITH MEDICAL CENTER STRIVES TO BE A GOOD NEIGHBOR AND TO MAINTAIN OPEN COMMUNICATIONS WITH ITS COMMUNITY AND BEYOND. THE HOSPITAL READILY MAKES ITS CONFERENCE ROOM AND CAFETERIA AVAILABLE TO NEIGHBORHOOD GROUPS FOR MEETINGS, RECEPTIONS AND COMMUNITY FORUM. IN ADDITION TO MAKING SPACE AVAILABLE, THE MEDICAL STAFF GRACIOUSLY OFFERS FREE CLINICS AND SCREENINGS THROUGHOUT THE YEAR AT CHURCHES, SENIOR CENTERS, DAY CARE CENTER, HIGH SCHOOLS AND COLLEGE MENTORING SESSIONS AND ANY NUMBER OF STREET FAIRS. THE HOSPITAL ALSO WELCOMES THE INPUT OF THE COMMUNITY THROUGH AN ADVISORY BOARD FOR SEVERAL OF ITS PROGRAMS AND A MONTHLY OPEN DISCUSSION FORUM WITH MEMBERS OF THE BOARD OF TRUSTEES. IN ADDITION TO THE HEAL PROGRAMS OF UTMOST IMPORTANCE TO WOMEN, THE WOMEN'S HEALTH PROGRAM OFFERS WORKSHOPS IN BUDGETING, STRESS REDUCTION, HEALTHY LIVING/COOKING, AND PROVIDES FACILITIES FOR JOB SEARCHES AND HELP WITH AT RISK YOUTH. X X X true false false false false false false false false Patrick Sullivan COO AND INTERIM CEO 383875 0 0 0 0 0 0 0 0 0 383875 0 0 0 Robert Mariani SVP & CFO 383875 0 0 0 0 0 0 0 0 0 383875 0 0 0 Pradeep Chandra CMO 432700 0 0 0 0 0 0 0 0 0 432700 0 0 0 Valcy Etienne Chair Anesthesia 325400 0 0 0 0 0 0 0 0 0 325400 0 0 0 TITUS OKUNLOLA CHAIRMAN, PSYCHIATRY 308148 0 0 0 0 0 0 0 0 0 308148 0 0 0 PATRICIA CAHILL CNO - 1/1/13 - 7/1/13 226313 0 0 0 12164 0 0 0 0 0 238477 0 0 0 MOHAMMED EL-DAKKAK DIRECTOR, ORTHOPEDICS 297390 0 0 0 0 0 0 0 0 0 297390 0 0 0 STACEY SMITH ASST DIR, ANESTHESIOLOGY 270824 0 0 0 0 0 0 0 0 0 270824 0 0 0 CHARLES LAWRENCE INTERIM CHAIR, ED 259896 0 0 0 0 0 0 0 0 0 259896 0 0 0 PART III EXECUTIVES, LUIS HERNANDEZ, PATRICK SULLIVAN, AND ROBERT MARIANI WERE EMPLOYED BY A MANAGEMENT COMPANY, KURRON SHARES OF AMERICA, INC. THROUGH MARCH 2013 AT WHICH TIME THE AGREEMENT WAS TERMINATED. INTERFAITH MEDICAL CENTER PAID THE MANAGEMENT COMPANY $950,000 FOR THE EXECUTIVES' SERVICES DURING THE PERIOD. THESE EXECUTIVES WERE SUBSEQUENTLY EMPLOYED BY INTERFAITH MEDICAL CENTER AFTER THE MANAGEMENT AGREEMENT WAS TERMINATED. PART 1, LINE A PATRICIA CAHILL RECEIVED SEVERANCE PAYMENTS OF $12,164 DURING 2013. A Dormitory Authority of the State of New York 146000293 64983MVK1 2007-03-28 132587135 SEE PART VI false false false A 0 0 132587135 10565216 0 0 1723677 0 0 0 0 0 false true false true A 0 A false false false false false false 0 false 0 false false A false SCHEDULE K, PART I, COLUMN F THE PROJECT CONSISTS OF (I) THE REFUNDING OF THE OUTSTANDING BONDS DESIGNATED DORMITORY AUTHORITY OF THE STATE OF NEW YORK SECURED HOSPITAL REVENUE BONDS, SERIES 1998D, THE PROCEEDS OF WHICH WERE LOANED TO THE INSTITUTION AND INCLUDING EACH "PROJECT" FINANCED AND REFINANCED WITH THE PROCEEDS OF SUCH BONDS, (II) THE FUNDING OF THE CAPITAL RESERVE FUND REQUIREMENT AND (III) PAYING THE COSTS OF ISSUANCE OF THE BONDS. THE ORIGINAL ISSUE DATE FOR THE SERIES 1998D BONDS WAS FEBRUARY 26, 1998. FORM 990, PART VI, LINE 3 INTERFAITH MEDICAL CENTER ENGAGED THE SERVICES OF KURRON SHARES OF AMERICA, INC. ("KURRON"), AN UNRELATED COMPANY, TO PROVIDE MANAGEMENT SERVICES. THE APPLICABLE NAMES AND TITLES OF KURRON PERSONNEL ARE DISCLOSED ON PART VII - SECTION A - OFFICERS, DIRECTORS, TRUSTEES, KEY EMPLOYEES, AND HIGHEST COMPENSATED EMPLOYEES. THE SERVICES OF KURRON TERMINATED IN MARCH 2013 AT WHICH TIME THESE EXECUTIVES WERE EMPLOYED BY INTERFAITH MEDICAL CENTER, INC. FORM 990, PART VI, LINE 11B THE INTERFAITH MEDICAL CENTER BOARD IS NOTIFIED WHEN THE FORM 990 IS AVAILABLE AND THEY HAVE THE OPPORTUNITY TO REVIEW THE FORM. THE CHIEF FINANCIAL OFFICER REVIEWS THE FORM 990 BEFORE IT IS FILED WITH THE IRS. FORM 990, PART VI, LINE 12C ANNUAL QUESTIONNAIRE IS SENT TO ALL DIRECTORS AND MANAGEMENT PERSONNEL. QUESTIONNAIRES ARE REVIEWED BY THE EXECUTIVE STAFF. ANY DISCREPANCIES ARE SENT TO THE BOARD. FORM 990, PART VI, LINE 15A THE CEO WAS PAID BY KURRON SHARES OF AMERICA, INC. ("KURRON"), AN UNRELATED COMPANY, WHO PROVIDED MANAGEMENT SERVICES THROUGH MARCH 2013 WHEN THE AGREEMENT TERMINATED. THE CEO WAS SUBSEQUENTLY EMPLOYED BY INTERFAITH MEDICAL CENTER, INC. THE BOARD OF DIRECTORS IS RESPONSIBLE FOR HIRING AND ESTABLISHING THE COMPENSATION (SALARY AND BENEFITS) OF THE EXECUTIVE DIRECTOR/CHIEF EXECUTIVE OFFICER ("CEO") BY IDENTIFYING COMPENSATION THAT IS "REASONABLE AND NOT EXCESSIVE," BUT THAT ALSO IS ATTRACTIVE ENOUGH TO RETAIN THE BEST POSSIBLE TALENT TO LEAD THE ORGANIZATION. THE PROCESS IS TO CONDUCT A REVIEW OF WHAT SIMILARLY SIZED PEER ORGANIZATIONS IN THE SAME GEOGRAPHIC LOCATION OFFER THEIR SENIOR LEADERS. SELECTED BOARD MEMBERS ALSO TAKE ON THE TASK AS MEMBERS OF THE COMPENSATION COMMITTEE TO BE RESPONSIBLE FOR THE REVIEW AND TO CONDUCT A "COMPARABILITY REVIEW". FINAL DOCUMENTATION IS PRESENTTED TO THE FULL BOARD FOR REVIEW AND APPROVAL. ONCE APPROVED, A WRITTEN CONTRACT IS DELIVERED TO THE CEO AND BOARD MEMBERS FOR SIGNATURE. BOARD DECISIONS ARE CONTEMPORANEOUSLY DOCUMENTED BY THE BOARD. BOARD DECISIONS ARE CONTEMPORANEOUSLY DOCUMENTED BY THE BOARD. FORM 990, PART VI, LINE 15B When determining if compensation was fair value for the services, Interfaith Medical Center, Inc. compared current compensation to compensation that had been paid previously to an employee for similar services. BOARD DECISIONS ARE CONTEMPORANEOUSLY DOCUMENTED BY THE BOARD. FORM 990, PART VI, LINE 19 UPON REQUEST, THE ORGANIZATION WILL MAKE AVAILABLE ONLY THOSE DOCUMENTS REQUIRED TO BE DISCLOSED UNDER THE PUBLIC INSPECTION LAWS. FORM 990, PART VII LUIS HERNANDEZ, PATRICK SULLIVAN, AND ROBERT MARIANI: INTERFAITH MEDICAL CENTER, INC. ENGAGED THE SERVICES OF KURRON SHARES OF AMERICA, INC.("KURRON"), AN UNRELATED COMPANY, TO PROVIDE DAY-TO-DAY AND CONSULTING SERVICES. THE SERVICES OF KURRON TERMINATED IN MARCH 2013 AT WHICH TIME THESE EXECUTIVES WERE EMPLOYED BY INTERFAITH MEDICAL CENTER, INC. FORM 990, PART XI, LINE 9 CHANGE IN ADDITIONAL MINIMUM PENSION LIABILITY . . . . . $ 24,488,990 REORGANIZATION ITEMS . . . . . . . . . . . . . . . . . . $ (9,838,332) TOTAL OTHER CHANGES IN NET ASSETS OR FUND BALANCES . . .$ 14,650,658 I M FOUNDATION INC 1545 ATLANTIC AVENUE BROOKLYN NY 11213 113144364 FUNDRAISING NY 501(c)(3) 11 TYPE I IMC true Interfaith Emergency Medicine PC 1545 Atlantic Avenue Brooklyn NY 11213 452480633 Physician Bil NY IMC C Corp 0 0 0.00000 true Interfaith Professional Physician Svc PC 1545 Atlantic Avenue Brooklyn NY 11213 451861648 Physician Bil NY IMC C Corp 0 0 0.00000 true Interfaith Psychiatry Services PC 1545 Atlantic Avenue Brooklyn NY 11213 274297404 Physician Bil NY IMC C Corp 0 0 0.00000 true false false false false true false false false false false false false false false true true false false I M FOUNDATION INC E 4300000 COST I M FOUNDATION INC Q 200000 COST INTERFAITH PSYCHIATRY SERVICES PC P 2750797 COST INTERFAITH EMERGENCY MEDICINE PC P 2240549 COST INTERFAITH PROFESSIONAL PHYSICIAN SERVICES PC P 5437540 COST