Mount Sinai Hospital is located in New York, NY. The organization was established in 1938. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. As of 12/2021, Mount Sinai Hospital employed 18,316 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mount Sinai Hospital is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Mount Sinai Hospital generated $3.6b in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.2% each year. All expenses for the organization totaled $3.3b during the year ending 12/2021. While expenses have increased by 7.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Mount Sinai Hospital has awarded 62 individual grants totaling $938,405,465. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
MOUNT SINAI PROVIDES COMPASSIONATE PATIENT CARE AND ADVANCED MEDICINE THROUGH EDUCATION, RESEARCH AND OUTREACH IN THE MANY DIVERSE COMMUNITIES IT SERVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MOUNT SINAI HOSPITAL PROVIDES QUALITY MEDICAL HEALTHCARE REGARDLESS OF RACE, CREED, SEX, NATIONAL ORIGIN, HANDICAP, AGE, OR ABILITY TO PAY. ALTHOUGH REIMBURSEMENT FOR SERVICES RENDERED IS CRITICAL TO THE OPERATION AND STABILITY OF THE MOUNT SINAI HOSPITAL, IT IS RECOGNIZED THAT NOT ALL INDIVIDUALS POSSESS THE ABILITY TO PURCHASE ESSENTIAL MEDICAL SERVICES AND HEALTHCARE EDUCATION. AS A MATTER OF POLICY, THE HOSPITAL PROVIDES SIGNIFICANT AMOUNTS OF PARTIALLY OR TOTALLY UNCOMPENSATED PATIENT CARE. FOR ACCOUNTING PURPOSES, SUCH UNCOMPENSATED CARE IS TREATED EITHER AS CHARITY CARE OR BAD DEBT EXPENSE. THE HOSPITAL'S CHARITY CARE POLICY ENSURES THE PROVISION OF QUALITY HEALTH CARE TO THE COMMUNITY SERVED WHILE CAREFULLY CONSIDERING THE ABILITY OF THE PATIENT TO PAY. THE POLICY HAS SLIDING FEE SCHEDULES FOR INPATIENT, AMBULATORY AND EMERGENCY SERVICES PROVIDED TO THE UNINSURED AND UNDER-INSURED PATIENTS WHO QUALIFY. PATIENTS ARE ELIGIBLE FOR THE CHARITY CARE FEE SCHEDULE IF THEY MEET CERTAIN INCOME TESTS. FURTHERMORE, AS PART OF ITS CHARITY CARE AND FINANCIAL AID POLICY, THE HOSPITAL OBTAINS AND USES ADDITIONAL FINANCIAL INFORMATION FOR UNINSURED OR UNDER-INSURED PATIENTS WHO HAVE NOT SUPPLIED THE REQUISITE INFORMATION TO QUALIFY FOR CHARITY CARE. THE ADDITIONAL INFORMATION OBTAINED IS USED BY THE HOSPITAL TO DETERMINE WHETHER TO QUALIFY PATIENTS FOR CHARITY CARE AND/OR FINANCIAL AID IN ACCORDANCE WITH THE HOSPITAL'S POLICIES. FOR ACCOUNTING AND DISCLOSURE PURPOSES, CHARITY CARE IS CONSIDERED TO BE THE DIFFERENCE BETWEEN THE HOSPITAL'S CUSTOMARY CHARGES AND THE SLIDING CHARITY CARE FEE SCHEDULE RATES. SINCE PAYMENT OF THIS DIFFERENCE IS NOT SOUGHT, CHARITY CARE ALLOWANCES ARE NOT REPORTED AS REVENUE. THE HOSPITAL'S ESTIMATED COSTS FOR CHARITY CARE WERE $45.5 MILLION AND $41.5 MILLION FOR 2021 AND 2020, RESPECTIVELY. THE COST OF CHARITY INCLUDES THE DIRECT AND INDIRECT COST OF PROVIDING CHARITY CARE SERVICES. THE COST IS ESTIMATED BY UTILIZING A RATIO OF COST TO GROSS CHARGES APPLIED TO THE GROSS UNCOMPENSATED CHARGES ASSOCIATED WITH PROVIDING CHARITY CARE. FUNDS RECEIVED FROM THE NEW YORK STATE INDIGENT CARE POOL TO OFFSET CHARITY SERVICES PROVIDED TOTALED APPROXIMATELY $13.3 MILLION AND $18.5 MILLION FOR THE YEARS ENDED DECEMBER 31, 2021 AND 2020, RESPECTIVELY. THE CHARITY CARE COMPONENT OF THE INDIGENT CARE POOL PAYMENTS IS ESTIMATED UTILIZING A RATIO OF CHARITY CARE CHARGES TO TOTAL CHARITY CARE AND BAD DEBT CHARGES APPLIED TO THE INDIGENT CARE POOL REIMBURSEMENT AND EXCLUDES AMOUNTS DESIGNATED FOR TEACHING PROGRAMS. ADDITIONALLY, PATIENTS WHO DO NOT QUALIFY FOR SLIDING SCALE FEES AND ALL UNINSURED INPATIENTS WHO DO NOT QUALIFY FOR MEDICAID ASSISTANCE ARE BILLED AT THE HOSPITAL'S RATES. UNCOLLECTED BALANCES FOR THESE PATIENTS ARE CATEGORIZED AS BAD DEBTS. TOTAL UNCOMPENSATED CARE AS A RESULT OF BAD DEBTS FOR ALL PATIENT SERVICES APPROXIMATED $83.6 MILLION IN 2021 AND $41.0 MILLION IN 2020. THE MOUNT SINAI HOSPITAL IS THE PRIMARY HEALTH CARE PROVIDER FOR THE EAST HARLEM AREA OF NEW YORK CITY. EAST HARLEM IS ONE OF THE POOREST COMMUNITIES IN THE NEW YORK CITY REGION, AND HAS BEEN DESIGNATED AS A MEDICALLY UNDERSERVED AREA. A WIDE VARIETY OF PROGRAMS AND SERVICES ARE CURRENTLY PROVIDED FOR THE COMMUNITY WHICH INCLUDE: -PRIMARY CARE -AIDS -CARDIOVASCULAR HEALTH -CANCER TREATMENT -MATERNAL AND INFANT HEALTH -GERIATRICS -AMBULATORY SENSITIVE CONDITIONS (ASTHMA AND DIABETES) -ADOLESCENT HEALTH -YOUTH EDUCATION -VOLUNTEER SERVICES
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Kenneth Davis MD Chief Executive Officer | Officer | 20.5 | $2,028,112 |
David L Reich MD President And COO | Officer | 60 | $1,808,577 |
Arthur Klein MD Evp, President Of Health Ntwk | Officer | 32.09 | $1,073,407 |
Samin Sharma MD Professor, Cardiology | 30.05 | $1,073,038 | |
Shirish Huprikar Professor, Infectious Disease | 59.16 | $817,926 | |
Stephen Furia Sr VP Mount Sinai Health Sys | 36.24 | $789,593 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Crothall Healthcare Inc Management | 12/30/21 | $41,111,176 |
Healthcare Risk Advisors Consulting | 12/30/21 | $34,863,883 |
Rightsourcing Inc Personnel | 12/30/21 | $34,272,283 |
Laboratory Corporation Lab Services | 12/30/21 | $66,301,597 |
Mckesson Corporation Billing | 12/30/21 | $27,339,048 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $244,337 |
Related organizations | $2,508,440 |
Government grants | $4,805,977 |
All other contributions, gifts, grants, and similar amounts not included above | $118,375,806 |
Noncash contributions included in lines 1a–1f | $834,203 |
Total Revenue from Contributions, Gifts, Grants & Similar | $125,934,560 |
Total Program Service Revenue | $3,084,638,403 |
Investment income | $24,450,266 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $64,693,000 |
Net Income from Fundraising Events | -$14,020 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $3,561,873,266 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $161,671,182 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $10,473,093 |
Compensation of current officers, directors, key employees. | $9,815,016 |
Compensation to disqualified persons | $358,783 |
Other salaries and wages | $1,194,967,716 |
Pension plan accruals and contributions | $94,320,180 |
Other employee benefits | $152,145,287 |
Payroll taxes | $95,615,991 |
Fees for services: Management | $37,597,284 |
Fees for services: Legal | $2,883,291 |
Fees for services: Accounting | $3,266,387 |
Fees for services: Lobbying | $607,487 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $4,858,263 |
Fees for services: Other | $419,964,530 |
Advertising and promotion | $16,734,936 |
Office expenses | $32,400,957 |
Information technology | $40,972,132 |
Royalties | $0 |
Occupancy | $68,188,020 |
Travel | $907,225 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $628,292 |
Interest | $43,632,395 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $130,097,875 |
Insurance | $86,375,443 |
All other expenses | $0 |
Total functional expenses | $3,335,744,023 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $497,258 |
Savings and temporary cash investments | $356,536,552 |
Pledges and grants receivable | $86,696,287 |
Accounts receivable, net | $434,418,698 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $4,028,900 |
Inventories for sale or use | $81,105,125 |
Prepaid expenses and deferred charges | $7,088,959 |
Net Land, buildings, and equipment | $1,042,531,457 |
Investments—publicly traded securities | $1,582,282,715 |
Investments—other securities | $1,132,859,000 |
Investments—program-related | $96,545,444 |
Intangible assets | $0 |
Other assets | $1,633,835,663 |
Total assets | $6,458,426,058 |
Accounts payable and accrued expenses | $469,659,298 |
Grants payable | $0 |
Deferred revenue | $60,294,774 |
Tax-exempt bond liabilities | $1,474,903,382 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $1,720,170 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $1,534,944,386 |
Total liabilities | $3,541,522,010 |
Net assets without donor restrictions | $2,635,710,000 |
Net assets with donor restrictions | $281,194,048 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $6,458,426,058 |
Over the last fiscal year, Mount Sinai Hospital has awarded $161,671,182 in support to 5 organizations.
Grant Recipient | Amount |
---|---|
New York, NY PURPOSE: FUND PHYSICIAN PRACTICE PROJECT | $83,565,311 |
New York, NY PURPOSE: FUND STRATEGIC PROJECTS | $33,308,304 |
New York, NY PURPOSE: FUND OPERATING LOSS | $21,187,142 |
Oceanside, NY PURPOSE: FUND CAPITAL PROJECT | $20,000,000 |
New York, NY PURPOSE: COMMUNITY BENEFIT | $3,610,425 |
Over the last fiscal year, we have identified 5 grants that Mount Sinai Hospital has recieved totaling $691,000.
Awarding Organization | Amount |
---|---|
Gray Foundation Cohoes, NY PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION. | $500,000 |
Needlers Foundation New York, NY PURPOSE: Support pediatric neurosurgery center | $100,000 |
The Mdc Foundation Charlottesville, VA PURPOSE: GENERAL | $50,000 |
David B Kriser Foundation Inc New York, NY PURPOSE: GENERAL CONTRIBUTION | $30,000 |
Sharon Houminer Foundation Wilmington, DE PURPOSE: CATH LAB PROGRAM | $11,000 |
Beg. Balance | $194,397,512 |
Net Contributions | $122,213,689 |
Other Expense | $35,417,153 |
Ending Balance | $281,194,048 |
Organization Name | Assets | Revenue |
---|---|---|
Lahey Clinic Hospital Inc Burlington, MA | $439,333,881 | $1,036,261,688 |
Presbyterian Medical Center Of The University Of Pennsylvania Health Philadelphia, PA | $864,132,692 | $1,007,924,819 |
Newyork-Presbyterian-Queens Flushing, NY | $898,800,022 | $913,594,490 |
New York-Presbyterian Brooklyn Methodist Brooklyn, NY | $1,733,884,296 | $932,635,722 |
Abington Memorial Hospital Philadelphia, PA | $948,017,930 | $858,404,541 |
Englewood Hospital And Medical Center A New Jersey Nonprofit Corp Englewood, NJ | $770,563,796 | $890,451,423 |
Saint Francis Hospital And Medical Center Hartford, CT | $1,654,893,576 | $997,837,414 |
Inspira Medical Centers Inc Bridgeton, NJ | $1,997,035,403 | $960,599,521 |
Valley Hospital Inc Ridgewood, NJ | $2,214,086,950 | $1,000,529,103 |
St Francis Hospital Roslyn, NY | $1,505,143,319 | $834,224,682 |
Virtu-West Jersey Health System Inc Marlton, NJ | $2,706,789,713 | $1,000,808,483 |
Bronxcare Health System Bronx, NY | $743,333,524 | $835,076,495 |