The Gustave L. and Janet W. Levy Library
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ArchivesCollectionsSelected: Board of Trustees, The Mount Sinai Hospital, Treasurer's Office (Ira Schur)Summary | Preface | History | Scope and Content Note | Subjects | Container List SummaryCreator: Board of Trustees, MSH. Treasurer's Office (Schur)
PrefaceThis collection was accessioned with files from the President/Dean's office. It was received by the Archives in July of 1988. HistoryIn January 1852, the Jews' Hospital in New York was incorporated. The nine men responsible for its creation quickly set about raising funds so they could build a hospital and begin to pursue the "benevolent, charitable and scientific purposes" outlined in their charter. The first Treasurer of the Board of Directors (later called Trustees), Henry Hendricks, was appointed in 1852. Originally, the only responsibility of the Treasurer as stated in Article 27 of the Hospital's constitution was to "give bonds from time to time in such amounts as the directors may prescribe." However, minutes of the Board of Directors reveal that in addition to giving bonds, the Treasurer also presented receipts and total disbursements for each month, reported the cash on hand, and provided a list of donations. In the 1896 constitution and by-laws of the Hospital more extensive duties for the Treasurer were enumerated. These included: the investment of all funds (under the supervision of the Finance Committee); custody of title deeds, bonds, moneys, and documents relating to property; collection of all interest and dividends on properties belonging to the hospital; the keeping of accounts showing receipts and expenditures (to be shown at every board meeting); and the preparation and reporting of an annual summary of receipts, expenditures, funds, assets and investments. The position description further notes that the Treasurer must give bond within one week of his election to the office and that no money shall be paid except on the order of the President. In the 1913 constitution and by-laws there were two added duties. These were the custody of securities and mortgages. It is also noted that the Treasurer must be a member of the Finance Committee. Beginning with the 1944 by-laws, it is stated that the Treasurer can pay interest, taxes, assessments and insurance obligations without obtaining other authority. Other than small modifications, the responsibilities set forth for the Treasurer in 1896 did not change significantly until the late 1960s. In 1968-1969, the duties of the office of the Treasurer of The Mount Sinai Hospital extended to the newly formed Mount Sinai School of Medicine and The Mount Sinai Medical Center. The financial responsibilities of these three institutions was overseen by one treasurer. In 1980 the by-laws of Mount Sinai show a decreased specificity in the duties of the Treasurer. The responsibilities are listed as: the care and custody of all securities; the keeping of a full and accurate account of all moneys received and paid; and production of a statement of accounts whenever the Board of Trustees requires it. In addition, the by-laws also state that, "He shall have such other powers and duties as may be assigned to him from time to time by the Board of Trustees or the Chairman of the Board of Trustees." The responsibilities of the Treasurer were extensive and more than one person working part-time could handle. In 1944 the first Assistant Treasurer was appointed. This new office was held by Ira A. Schur. In 1948, Mr. Schur was promoted to Associate Treasurer and in 1955, following the death of Joseph F. Cullman, Jr., Ira A. Schur assumed the office of Treasurer. The office of Associate Treasurer was filled by William E. Arnstein. The position of Assistant Treasurer was not filled again until 1971 when Harry R. Mancher took that office. From that point on, the office of Assistant Treasurer was filled sporadically. A complete chronology of the officers appears below. Ira A. Schur was born in Boston, Massachusetts on April 11, 1901. Shortly thereafter, his family moved to New York where he attended public school. At the age of 15 Schur had a summer job at S.D. Leidesdorf and Company, Certified Public Accountants. He attended night school at New York University and continued working at S.D. Leidesdorf. He passed his CPA exam in 1926. He continued his career at S.D. Leidesdorf until his retirement in 1969 at which time he was the managing partner. Mr. Schur was very active in the community. Among his numerous philanthropic affiliations were the American Red Cross, the Metropolitan Opera Guild, Inc., and he was a Trustee at The Mount Sinai Hospital from 1943-1977. He was also a member in many professional organizations. Mr. Schur had an avid interest in photography and fine wine.
Scope and Content NoteThese Treasurer's Office files contain records from the years 1948-1976. The bulk of this collection falls between 1960-1974, when Ira A. Schur was Treasurer. The types of records in this collection are varied and numerous and they reveal the activities and priorities of the Treasurer's Office over this time. They include: minutes of Board of Trustee meetings and of various committees; correspondence with administration, faculty, other institutions, businesses, governmental agencies, lawyers, and many others; printed reports concerning various aspects of the Hospital; loan requests; employee agreements; and various budgetary reports. The documentation reveals a few recurring themes. A large percentage of the records concern personnel management. Among the employee related material are: employee agreements and contracts; retirement agreements; data on retirement funds; tax annuity reports; private practice agreements; and comparative studies of executive benefits, perquisites, and salaries. Two sets of folders in the collection relate directly to employee benefit issues. The first contains the files of the Ad Hoc Committee for Executive Benefits, which existed from 1962-1970 to determine appropriate benefits for executive level personnel. They are found in folders labeled "Executive Insurance and Benefits." The second folder group contains the records of the Compensation Committee, which was formed in 1972 (the records continue to 1973) and had similar objectives to that of the previously mentioned Ad Hoc Committee. This second series is found in folders labeled "Compensation Committee." There are several other subjects that recur in these files. Many documents relate to funds and fundraising, including records concerning funds for the then new Annenberg Building and School of Medicine. There are many documents relating to the tax status of corporations, house staff, executives, and other employees. Also found here is correspondence regarding the incorporation of The Mount Sinai Medical Center and name changes for Mount Sinai School of Medicine. In addition, as might be expected, there are data on expenses and supply costs. Throughout the collection is correspondence with many prominent Mount Sinai individuals including Gustave Levy, Chairman of the Boards of Trustees; Martin Steinberg, MD, Director of The Mount Sinai Hospital from 1948 to 1969; Hans Popper, MD, Ph.D., Chairman of the Department of Pathology and President/Dean of Mount Sinai; Jack Herman, Director of Development; and S. David Pomrinse, MD, Director of The Mount Sinai Hospital from 1969 to 1977. The Treasurer's Office hired outside consulting firms to perform many studies. Included in the collection are a compensation study completed by the Martin E. Segal Company (1973) and a Mount Sinai Medical Center report on tax shelter annuity programs conducted by S. B. Ackerman Associates (1973). Ira A. Schur conducted the majority of his Treasurer's responsibilities from his office at S. D. Leidesdorf and Co. where he worked from 1916 until his retirement in 1969. However, there are many documents that reveal that he also conducted business at Mount Sinai and occasionally from his homes in Manhattan and Scarsdale, New York. The files contained in this collection are of value for many reasons, one being the level of the office and its importance to the institution. Another aspect that brings value to these records is their relative completeness and comprehensiveness. An examination of these records provides an understanding of the evolution and workings of the Treasurer's Office. It is difficult to say what gaps the collection may have since the records were not donated directly from the Treasurer's office and contain files only as recent as 1976. However, it is surprising that there is only minimal mention of issues regarding property and no information on banking or evidence of bank accounts and bill payments, which are all major responsibilities of the office. On the whole, the collection lacks budgetary data. Although it does contain some budgetary reports and financial statements, the majority of the collection is composed of day to day personnel and individually-focused issues. There are restrictions on the use of this collection. Due to the existence of extensive private personnel data and private institutional information, parts of this collection are open only at the discretion of the Archivist. Subjects
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