Memorial Sloan Kettering Cancer Center does not meet the following 4 Standards for Charity Accountability:
Standard 1 (Oversight of Operations and Staff)
Organizations shall have a board of directors that provides adequate oversight of the charity's operations and its staff. Indication of adequate oversight includes, but is not limited to, regularly scheduled appraisals of the CEO's performance, evidence of disbursement controls such as board approval of the budget, fund raising practices, establishment of a conflict of interest policy, and establishment of accounting procedures sufficient to safeguard charity finances.
MSK does not meet this Standard because its board of directors did not:
- Receive information about the financial arrangements made with outside development consultants hired in 2021.
Standard 14 (Budget)
Have a board-approved annual budget for its current fiscal year, outlining projected expenses for major program activities, fund raising, and administration.
MSK does not meet this Standard because:
- The organization did not produce a budget for 2022.
Standard 16 (Annual Report)
Have an annual report available to all, on request, that includes: (a) the organization's mission statement, (b) a summary of the past year's program service accomplishments, (c) a roster of the officers and members of the board of directors, (d) financial information that includes (i) total income in the past fiscal year, (ii) expenses in the same program, fund raising and administrative categories as in the financial statements, and (iii) ending net assets.
MSK does not meet this Standard because the 2020 annual report did not include:
- Total administrative expenses.
- Total fundraising expenses.
- Total program expenses broken down by major program category (patient care, research, and education).
Standard 18 (Privacy for Written Appeals & Internet Privacy)
Address privacy concerns of donors by (a) providing in written appeals, at least annually, a means (e.g., such as a check off box) for both new and continuing donors to inform the charity if they do not want their name and address shared outside the organization, (b) providing a clear, prominent and easily accessible privacy policy on any of its websites that tells visitors (i) what information, if any, is being collected about them by the charity and how this information will be used, (ii) how to contact the charity to review personal information collected and request corrections, (iii) how to inform the charity (e.g., a check off box) that the visitor does not wish his/her personal information to be shared outside the organization, and (iv) what security measures the charity has in place to protect personal information.
MSK does not meet this Standard because the organization's website, https://mskcc.org/, does not include:
- What security measures the charity has in place to protect personal information provided by visitors.
The BBB Wise Giving Alliance requested but did not receive complete information from the organization and is unable to verify the organization's compliance with the following Standard(s) for Charity Accountability:
3
5
6
7
13
15
Memorial Sloan Kettering Cancer Center meets the remaining 10 Standards for Charity Accountability.
COMPLAINTS
Number of complaints processed by the BBB in the last 36 months: 2
The organization addressed the complaint issues brought to its attention: 2
(These complaints involved a donation refund and order fulfillment).
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Year, State Incorporated
1960, NY
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Stated Purpose
"to provide leadership in the prevention, treatment and cure of cancer through excellence, vision, and cost effectiveness in patient care, outreach programs, research and education."
Memorial Sloan Kettering Cancer Center (MSK) reports that it is devoted to cancer prevention, treatment, research, and education. The organization focuses on multidisciplinary care, where experts from many fields of medicine come together to develop treatments for individual patients to work towards more effective treatments for cancer with less side effects to patients. MSK states that its basic and translational researchers have made contributions to the scientific community's understanding of cancer biology and cancer genetics as well as related fields. Additionally, the organization sponsors programs that give medical students, undergraduates, and high school students the opportunity to work at the institution doing clinical and laboratory research, increasing the pipeline of scientists and physicians working in oncology.
For the year ended December 31, 2020, Memorial Sloan Kettering Cancer Center's program expenses were:
| Patient care |
$4,663,380,000 |
| Research |
$765,284,000 |
| Education |
$251,758,000 |
| Total Program Expenses: |
$5,680,422,000 |
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Chief Executive
Craig B. Thompson, MD, President and Chief Executive Officer
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Compensation*
$3,593,918
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Chair of the Board
Scott Stuart
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Chair's Profession / Business Affiliation
Founding Partner, Sageview Capital
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Board Size
52
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Paid Staff Size
21105
*2020 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
Note: Viviane Tabar, MD, Chairman, Attending Neurosurgery, was the highest paid employee in 2020, receiving $4,878,269 in compensation.
Method(s) Used:
Direct mail appeals, Grant proposals, Internet, Invitations to fund raising events, Planned giving arrangements, Cause- related marketing (affinity credit cards, consumer product sales, etc.)
MSK incurred joint costs of $12,401,430 for informational materials and activities that included fundraising materials. Of those costs $7,828,650 was allocated to fundraising expenses and $4,572,780 was allocated to program expenses.
Fundraising costs were 13% of related contributions. (Related contributions, which totaled $611,112,000, are donations received as a result of fundraising activities.)
This organization is tax-exempt under section 501(c) (3) of the Internal Revenue Code.It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
The following information is based on Memorial Sloan Kettering Cancer Center's audited financial statements - combined for the year ended December 31, 2020.
| Source of Funds |
| Hospital care and services |
$4,261,296,000 |
| Investment return |
$1,277,454,000 |
| Other income |
$357,654,000 |
| Grants and contracts |
$347,540,000 |
| Contributions |
$263,572,000 |
| Board-designated other additions |
$350,000 |
| Other nonoperating income and expenses, net |
($16,668,000) |
| Total Income |
$6,491,198,000 |
- Programs: 98%
- Fundraising: Less than 1%
- Administrative: Less than 1%
| Total Income |
$6,491,198,000 |
| Program expenses |
$5,680,422,000 |
| Fundraising expenses |
$81,637,000 |
| Administrative expenses |
$62,309,000 |
| Other expenses |
$0 |
| Total expenses: |
$5,824,368,000 |
| Income in Excess of Expenses |
$666,830,000 |
| Beginning Net Assets |
$6,975,340,000 |
| Other Changes In Net Assets |
$426,371,000 |
| Ending Net Assets |
$8,068,541,000 |
| Total Liabilities |
$5,246,709,000 |
| Total Assets |
$13,315,250,000 |
Note: As noted in the above financial section, "other changes in net assets" refers to a change in pension and postretirement benefit obligations.