Montefiore Health System

What it reported doing in 2024

Montefiore health system, inc. Serves as the direct parent or indirect parent corporation operating in furtherance and support of montefiore medical center, montefiore new rochelle hospital, montefiore mount vernon hospital, schaffer extended care center, montefiore nyack hospital, white plains hospital medical center, the winifred masterson burke rehabilitation hospital, st luke's cornwall health system, inc. As well as the other not-for profit and for-profit entities that have been formed in connection with the charitable, educational and scientific purposes, missions, and objectives of the corporation and the montefiore health system. Montefiore health system's objective is to improve and enhance the general health and well-being of the communities it serves by providing various governance and support services to the constituent entities of the health system. Montefiore information technology (mit), the formerly disregarded entity of the organization, became part of the montefiore health system, inc. 1-1-23. Mit was organized primarily to provide information technology support services to the member organizations, working to deploy new technologies and define new business practices in order to provide stakeholders across the institution with the resources needed to meet their most difficult challenges. Montefiore medical center, the university hospital for albert einstein college of medicine and one of the organization's supported entity, is one of healthcare's most wired hospitals, widely recognized for its ability to adopt new technology to support clinical care, patient safety and privacy, infrastructure, business and administrative management and the continuum of care.

Financial Efficiency

• Mission deployment rate: 79.9%; rating input score 80
• Program expense ratio: 71.1%; rating input score 71
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
• Pay-setting controls: 0 of 6 controls in place; rating input score 0
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Missing
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Limited
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 97.2%; rating input score 97; 53rd percentile among comparable filings
• Governance controls: 8 of 9 controls in place; rating input score 89
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Fail
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -12%; rating input score 7; 7th percentile among comparable filings
• Total-asset coverage ratio: 2.47; rating input score 70; 70th percentile among comparable filings
• Liabilities to assets ratio: 0.4; rating input score 45; 45th percentile among comparable filings
• Officer compensation ratio: 2.9%; rating input score 40; 40th percentile among comparable filings

Growth

• Program expense growth: 12.2% per year; rating input score 100; 82nd percentile among comparable filings
• Revenue growth: 10.9% per year; rating input score 100; 80th percentile among comparable filings
• Asset growth: 11.3% per year; rating input score 100; 76th percentile among comparable filings