SAINT VINCENT CATHOLIC MEDICAL CENTERS
5 Penn Plaza, New York, NY 10001 svcmcny.org

Total Revenue
$108,368,490
Total Expenses
$101,136,725
Net Assets
$18,720,938

Organizations Filed Purposes: Saint Vincents Catholic Medical Centers of New York (the Organization) was established to carry on the healing mission of Jesus to the sick and shall perform its specific corporate purposes in conformity with the teachings and moral tenets set forth in the latest edition of the document entitled Ethical and Religious Directives for Catholic Health Care Services approved by the National Conference of Catholic Bishops and as promulgated by the local diocesan bishop. The Organization continues to operate The Uniformed Services Family Health Plan (USFHP), which is a TRICARE Prime military health care option thats sponsored by the Department of Defense. USFHP has provided comprehensive care for military families for over 30 years. Through the USFHP, the Organization offers health care services, including wellness and disease prevention programs, disease management and continuity of care, to military families including active and retired National Guard and Reservists who reside in New Jersey

Saint Vincents Catholic Medical Centers of New York (the Organization) was established to carry on the healing mission of Jesus to the sick and shall perform its specific corporate purposes in conformity with the teachings and moral tenets set forth in the latest edition of the document entitled Ethical and Religious Directives for Catholic Health Care Services approved by the National Conference of Catholic Bishops and as promulgated by the local diocesan bishop. The Organization continues to operate The Uniformed Services Family Health Plan (USFHP), which is a TRICARE Prime military health care option thats sponsored by the Department of Defense. USFHP has provided comprehensive care for military families for over 30 years. Through the USFHP, the Organization offers health care services, including wellness and disease prevention programs, disease management and continuity of care, to military families including active and retired National Guard and Reservists who reside in New Jersey, New York City, Westchester, Orange, Rockland, Suffolk, and Nassau counties, as well as Eastern Pennsylvania and Western Connecticut. In addition, the Organization is the sole shareholder of Queensbrook Insurance Limited (QIL), a Cayman Islands based, captive insurance company which was set up to insure the medical malpractice of providers employed by the organization, as well as to provide casualty insurance. As the final claims are winding down, the Organization will eventually close out QIL. The Organization also has an ownership interest (as the sole shareholder) in Queensbrook Insurance Limited New York (QIL NY), a domestic captive insurance company set up for the sole purpose of reinsuring the liabilities of QIL and providing excess insurance coverage for physicians who were previously employed by, or affiliated with, the Organization and covered by QIL (this was QIL NYs only source of business). QIL NY ceased to underwrite insurance coverage, effective July 1, 2011, no longer holds a license to do business in New York, and, as such, is in the process of winding down its final claims in order to eventually dissolve.

Executives Listed on Filing

Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing

NameTitleHours Per WeekTotal Salary
SvpOperations40$418,884
SvpLegal40$376,069
PhysicianOperations40$193,245
SvpRisk40$186,572
VpOperations40$183,100
Steven R KorfPresident & CEO8$0
Vaughn WilliamsTrustee0$0
Fred SalernoTrustee0$0
Jane Iannucelli ScChairperson0$0

Data for this page was sourced from XML published by IRS (public 990 form dataset) from: https://s3.amazonaws.com/irs-form-990/202013169349303961_public.xml