Beth Israel Medical Center
- Assets
- $1.3b
- Revenue
- $957.8m
- Investments
- $21.1m
- Employees
- 6,122
- Location
- New York, NY
- Founding
- 08/1948
- Data as of
- 12/2021
- EIN
- 13-5564934
Organization Overview
Beth Israel Medical Center, operating under the name Mount Sinai Beth Israel, is located in New York, NY. The organization was established in 1948. 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 Beth Israel employed 6,122 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mount Sinai Beth Israel 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 Beth Israel generated $957.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.0%) each year. All expenses for the organization totaled $1.1b during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.2%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SERVES THE HEALTH CARE NEEDS OF THE NEW YORK COMMUNITY, WHILE ALSO PROVIDING CLINICAL EDUCATION AND ENGAGING IN CLINICAL RESEARCH
Describe the Organization's Program Activity:
PATIENT CARE: BETH ISRAEL MEDICAL CENTER 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 MEDICAL CENTER, IT IS RECOGNIZED THAT NOT ALL INDIVIDUALS POSSESS THE ABILITY TO PURCHASE ESSENTIAL MEDICAL SERVICES AND FURTHER, THAT OUR MISSION, IS TO SERVE THE COMMUNITY WITH RESPECT TO PROVIDING HEALTHCARE SERVICES AND HEALTHCARE EDUCATION. BETH ISRAEL PROVIDES CARE TO PERSONS COVERED BY GOVERNMENTAL PROGRAMS AND THE UNINSURED AT BELOW COST. TO THE EXTENT REIMBURSEMENT IS BELOW COST, OR A PATIENT IS UNABLE TO PAY, BETH ISRAEL RECOGNIZED THESE AMOUNTS AS CHARITY CARE IN MEETING ITS MISSION TO THE COMMUNITY. IN ADDITION, CHARITY CARE IS ALSO PROVIDED THROUGH MANY FREE SERVICES AND PROGRAMS OFFERED THROUGHOUT THE YEAR, WHICH BETH ISRAEL BELIEVES SERVE A BONA FIDE COMMUNITY HEALTH NEED. IN ADDITION, THE HOSPITAL OPERATES TWO EMERGENCY ROOMS THAT ARE OPEN 24 HOURS, SEVEN DAYS A WEEK. THE KARPAS HEALTH INFORMATION CENTER (KHIC) CONSISTING OF 4 HEALTHCARE PROFESSIONALS PROVIDES HEALTH SCREENINGS, HEALTH INFORMATION AND HEALTH EDUCATION TO THE COMMUNITY. ITS REGULAR SERVICES INCLUDE FREE LECTURES, DISTRIBUTION OF FREE PUBLICATIONS, HEALTH SCREENINGS, PHYSICIANS REFERRALS, ETC. BIMC IS THE PRIMARY HEALTHCARE PROVIDER FOR THE LOWER EAST SIDE OF NEW YORK CITY. THE NEIGHBORHOOD IS THE POINT OF ENTRY FOR MANY NEW IMMIGRANTS TO THE UNITED STATES. THE NEIGHBORHOOD IS ALSO AFFLICTED WITH SEVERE SUBSTANCE ABUSE PROBLEMS AND THE RELATED HEALTH CRISIS, AIDS. IN RECOGNITION OF ITS RESPONSIBILITY TO THE COMMUNITY, BETH ISRAEL PROVIDES SERVICES IN VARIOUS LANGUAGES: ENGLISH, HEBREW, CHINESE AND SPANISH.
STUDENT FINANCIAL AID PROGRAM: TO PROVIDE FINANCIAL AID TO QUALIFYING NURSES ATTENDING BETH ISRAEL NURSING SCHOOL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Michael Lorin 2 President | Officer | 60 | $874,733 |
Elizabeth Sellman 2 Senior Vice President | 60 | $760,575 | |
Kenneth Davis MD 2 Chief Executive Officer | Officer | 6.57 | $649,398 |
Barbara Barnett 2 Chief Medical Officer | 38.7 | $545,260 | |
Elvis Deleon VP Ambulatory Operations | 60 | $384,742 | |
Arthur Klein MD 2 Evp, President Of Health Ntwk | Officer | 10.78 | $360,574 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Healthcare Risk Advisors Inc Insurance | 12/30/21 | $12,658,682 |
Laboratory Corp Of America Lab Services | 12/30/21 | $11,453,580 |
Lend Lease Us Construction Lmb In Construction Svcs | 12/30/21 | $46,790,889 |
Crothall Healthcare Inc Housekeeping/evs | 12/30/21 | $15,737,624 |
Rightsourcing Inc Staffing | 12/30/21 | $9,681,689 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $31,225,634 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,038,908 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $32,264,542 |
| Total Program Service Revenue | $806,124,671 |
| Investment income | $7,555,733 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,544,103 |
| Net Gain/Loss on Asset Sales | $306,114 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $957,812,057 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $8,206,000 |
| Grants and other assistance to domestic individuals. | $227,417 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,984,849 |
| Compensation of current officers, directors, key employees. | $3,893,471 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $371,005,173 |
| Pension plan accruals and contributions | $33,040,460 |
| Other employee benefits | $81,965,056 |
| Payroll taxes | $32,083,934 |
| Fees for services: Management | $2,121,169 |
| Fees for services: Legal | $882,476 |
| Fees for services: Accounting | $339,955 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $186,190 |
| Fees for services: Other | $197,968,614 |
| Advertising and promotion | $0 |
| Office expenses | $76,572,733 |
| Information technology | $21,359,181 |
| Royalties | $0 |
| Occupancy | $43,207,384 |
| Travel | $1,194,783 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $106,485 |
| Interest | $11,192,602 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $70,956,034 |
| Insurance | $12,458,677 |
| All other expenses | $0 |
| Total functional expenses | $1,144,467,220 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $113,355,385 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $21,150,365 |
| Accounts receivable, net | $74,743,889 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $8,839,164 |
| Prepaid expenses and deferred charges | $2,165,108 |
| Net Land, buildings, and equipment | $629,198,360 |
| Investments—publicly traded securities | $36,578,707 |
| Investments—other securities | $21,066,997 |
| Investments—program-related | $59,125,315 |
| Intangible assets | $0 |
| Other assets | $313,017,591 |
| Total assets | $1,279,240,881 |
| Accounts payable and accrued expenses | $147,319,221 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,256,897,548 |
| Total liabilities | $1,404,216,769 |
| Net assets without donor restrictions | -$159,923,617 |
| Net assets with donor restrictions | $34,947,729 |
| 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 | $1,279,240,881 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Beth Israel Medical Center has recieved totaling $387,471.
| Awarding Organization | Amount |
|---|---|
Cystic Fibrosis Foundation Bethesda, MD PURPOSE: CF CARE CENTER | $190,410 |
Cystic Fibrosis Foundation Bethesda, MD PURPOSE: CLINICAL RESEARCH CENTER | $172,061 |
Amyotrophic Lateral Sclerosis Assn Arlington, VA PURPOSE: ANNUAL GRANT PAYMENT FY22 CENTER OF EXCELLENCE/RESEARCH | $25,000 |
Endowment Analysis
| Beg. Balance | $11,934,113 |
| Net Contributions | $175 |
| Ending Balance | $11,934,288 |
Peer Organizations
| 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 |