|According to the Memorial Sloan Kettering Cancer Center (the Institute or the Center) 2017 tax filing, the Center reports re: Business Transactions Involving Interested Persons (IRS Form 990, Schedule L, Parts IV & V):
"1. Dr. Thompson is the President of the Institute. His spouse is a laboratory member for Sloan-Kettering Institute for Cancer Research. Her compensation for 2017 was $211,950."
"2. Mr. Michael P. Gutnick is the Executive Vice President and Chief Financial Officer. His son is a fund coordinator in the Division of Medicine in the hospital. His son's total compensation for 2017 was $105,088."
"3. Ms. Jamie Nicholls is a board member of the Institution. Her spouse is a co-founder of King Street Capital Management. During 2017, the Center paid King Street $733,235 in management fees. The investment agreement calls for carried interest income that is normal and customary in the course of investing in alternative investments. During 2017, carried interest income earned was $542,381. The Institution invested in King Street prior to Ms. Nicholls joining the board of Memorial Sloan Kettering Cancer Center."
"4. Jose Baselga MD PhD is the Physician in Chief and Chief Medical Officer of the Organization. He is also 100% owner of Memorial Medical Care PC. Memorial Medical Care PC was established as a 501(c)(3) to provide home healthcare to the hospital's bone marrow transplant patients. The PC and the hospital have a management agreement where there is no cost to the hospital for the service. The hospital provides and charges the PC for leased employees and medical services as needed. Patients enrolled in this program are billed accordingly. The amount reported is the cost of such services provided to the PC."
"The individuals listed were not a party to the transactions. There is no sharing of the Institution's revenue. The purchases of goods or services by the Institution were made in the ordinary course of the provider's business, at commercially available rates normally charged to regular customers."
|According to the Memorial Sloan Kettering Cancer Center (the Center) 2017 tax filing, the Center reports re: Compensation, Supplemental Information (IRS Form 990, Schedule J, Part III):
Regarding severance payments to officers, directors, trustees, key employees and highest compensated employees (Schedule J, Part I, Line 4A):
"Included in Form 990 is severance pay for Edwin Taliaferro, VP Internal Audit & Compliance, of $220,608. He terminated in April 2017."
Regarding nonfixed payments to officers, directors, trustees, key employees and highest compensated employees (Schedule J, Part I, Line 7):
"Incentive pay is provided to officers and key employees based on their achievement of pre-determined goals relating to quality of care, patient safety, operational efficiency and financial performance. The compensation committee of the board authorizes all executive bonuses and incentive plans on an annual basis. In addition, as well as an overall authorization and approval for key employees and other management including professional and other staff by setting the bonus pool in conjunction with the input from human resources. Staff bonuses are impacted by annual merit review process."
The Center reports "Bonus & incentive compensation" payments to 21 individuals in 2017. The five highest amounts reported are as follows (IRS Form 990, Schedule J, Part II):
(1) Craig B Thompson MD, President & CEO: $2,084,620, with reported total compensation of $5,303,958;
(2) Bernard Bochner MD, Attending-Surgery: $1,890,000, with reported total compensation of $2,903,222;
(3) Anne McSweeney, Special Advisor to President: $1,584,118, with reported total compensation of $2,188,970;
(4) Mark Bilsky MD, Attending-Dept of Neurosurgery: $1,500,000, with reported total compensation of $3,568,374; and
(5) Kathryn Martin, Chief Operating Officer: $1,490,220, with reported total compensation of $3,382,794.
In addition, the Center reports that five individuals received "Bonus & incentive compensation" payments in amounts ranging from $1,326,230 to $1,050,000; six individuals in amounts ranging from $778,881 to $503,250; and five individuals in amounts ranging from $414,650 to $76,862 (IRS Form 990, Schedule J, Part II).