Icahn School Of Medicine At Mount Sinai
- Assets
- $4.2b
- Revenue
- $3.7b
- Investments
- $1.6b
- Employees
- 14,433
- Location
- New York, NY
- Founding
- 02/1964
- Data as of
- 12/2021
- EIN
- 13-6171197
Organization Overview
Icahn School Of Medicine At Mount Sinai is located in New York, NY. The organization was established in 1964. According to its NTEE Classification (B50) the organization is classified as: Graduate & Professional Schools, under the broad grouping of Education and related organizations. As of 12/2021, Icahn School Of Medicine At Mount Sinai employed 14,433 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Icahn School Of Medicine At Mount Sinai 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, Icahn School Of Medicine At Mount Sinai generated $3.7b in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.4% each year. All expenses for the organization totaled $3.6b during the year ending 12/2021. While expenses have increased by 7.3% 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE SCHOOL COMMITS TO DRAMATICALLY ADVANCING THE ART AND SCIENCE OF MEDICAL CARE THROUGH AN ATMOSPHERE OF INTENSE COLLABORATIVE LEARNING, SOCIAL CONCERN, AND SCHOLARLY INQUIRY.
Describe the Organization's Program Activity:
ICAHN SCHOOL OF MEDICINE AT MOUNT SINAI PROVIDES BASIC & TERTIARY PHYSICIANS SERVICES AND LABORATORY TESTING SERVICES TO PATIENTS ON AN ONGOING BASIS.
ICAHN SCHOOL OF MEDICINE AT MOUNT SINAI CONDUCTS RESEARCH IN THE AREAS OF BIOLOGICAL, SOCIAL AND PHYSICAL SCIENCES. FUNDAMENTAL AND APPLIED RESEARCH IS PRIMARILY ENTERED IN GEOGRAPHIC PROXIMITY TO CLINICAL FACILITIES.
ICAHN SCHOOL OF MEDICINE AT MOUNT SINAI PASSIONATELY ADVANCES EDUCATION AND IS RESPONSIBLE FOR THE CERTIFICATION OF PHYSICIANS AT THE UNDERGRADUATE, GRADUATE AND POST-GRADUATE LEVELS AS WELL AS THE CERTIFICATION OF BIOMEDICAL SCIENTISTS AT THE GRADUATE LEVEL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew Hecht MD Assistant Professor | 60 | $8,736,364 | |
Hani Sbitany MD Associate Professor Surgery | 60 | $8,291,741 | |
David Adams MD Chairman | 59.5 | $6,452,377 | |
Mark Sultan MD Professor, Surgery | 60 | $5,739,038 | |
Jordan Jacobs MD Assistant Professor, Surgery | 60 | $4,750,207 | |
Kenneth Davis MD Chief Executive Officer | Officer | 20.15 | $1,993,463 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Change Healthcare Llc Billing Services | 12/30/21 | $12,215,656 |
Mitchell Giurgola Architect Llp Architects | 12/30/21 | $4,299,352 |
Vrp Of Ny Pa Physician Services | 12/30/21 | $2,677,420 |
Hellmuth Obata Kassabaum Pc Architects | 12/30/21 | $2,576,353 |
Ogden Cap Properties Llc Real Estate Agent | 12/30/21 | $2,102,885 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $6,250,290 |
| Related organizations | $170,227,312 |
| Government grants | $30,940,332 |
| All other contributions, gifts, grants, and similar amounts not included above | $639,767,396 |
| Noncash contributions included in lines 1a–1f | $21,079,025 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $847,185,330 |
| Total Program Service Revenue | $2,595,347,519 |
| Investment income | $8,255,838 |
| Tax Exempt Bond Proceeds | $7,736 |
| Royalties | $22,287,419 |
| Net Rental Income | $21,365 |
| Net Gain/Loss on Asset Sales | $133,038,396 |
| Net Income from Fundraising Events | -$400,731 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,694,495,688 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $947,772 |
| Grants and other assistance to domestic individuals. | $8,548,095 |
| Grants and other assistance to Foreign Orgs/Individuals | $46,734 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $10,521,415 |
| Compensation of current officers, directors, key employees. | $9,759,749 |
| Compensation to disqualified persons | $3,139,343 |
| Other salaries and wages | $2,197,940,076 |
| Pension plan accruals and contributions | $114,112,287 |
| Other employee benefits | $177,023,945 |
| Payroll taxes | $115,967,103 |
| Fees for services: Management | $45,996,048 |
| Fees for services: Legal | $9,077,305 |
| Fees for services: Accounting | $2,572,234 |
| Fees for services: Lobbying | $862 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,336,553 |
| Fees for services: Other | $167,664,360 |
| Advertising and promotion | $7,620,340 |
| Office expenses | $25,975,038 |
| Information technology | $17,639,278 |
| Royalties | $13,160,652 |
| Occupancy | $148,875,521 |
| Travel | $4,927,604 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,893,992 |
| Interest | $30,531,606 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $106,138,867 |
| Insurance | $64,374,049 |
| All other expenses | $21,137,504 |
| Total functional expenses | $3,564,467,528 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,662,837 |
| Savings and temporary cash investments | $344,566,472 |
| Pledges and grants receivable | $115,094,465 |
| Accounts receivable, net | $137,610,906 |
| Loans from Officers, Directors, or Controlling Persons | $500,000 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $96,587,529 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $35,016,185 |
| Net Land, buildings, and equipment | $1,212,528,433 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,634,860,861 |
| Investments—program-related | $10,159,262 |
| Intangible assets | $0 |
| Other assets | $624,539,994 |
| Total assets | $4,225,126,944 |
| Accounts payable and accrued expenses | $185,941,223 |
| Grants payable | $0 |
| Deferred revenue | $89,508,171 |
| Tax-exempt bond liabilities | $513,175,672 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $428,844,035 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,120,421,500 |
| Total liabilities | $2,337,890,601 |
| Net assets without donor restrictions | $856,504,971 |
| Net assets with donor restrictions | $1,030,731,372 |
| 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 | $4,225,126,944 |
Grants Awarded
Over the last fiscal year, Icahn School Of Medicine At Mount Sinai has awarded $947,772 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: FUNDING EQUITY LOSS | $473,886 |
New York, NY PURPOSE: FUNDING EQUITY LOSS | $473,886 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Icahn School Of Medicine At Mount Sinai has recieved totaling $1,090,000.
| Awarding Organization | Amount |
|---|---|
Peter Schub Foundation New York, NY PURPOSE: FOR RESEARCH EFFORTS STUDYING POST-TRAUMATIC STRESS DISORDER (PTSD) | $1,000,000 |
Gray Foundation Cohoes, NY PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION. | $50,000 |
Cure For Ibd Basking Ridge, NJ PURPOSE: RESEARCH | $15,000 |
David L Klein Jr Foundation King Of Prussia, PA PURPOSE: OPERATING SUPPORT | $15,000 |
Gray Foundation Cohoes, NY PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION. | $10,000 |
Endowment Analysis
| Beg. Balance | $754,013,772 |
| Earnings | $96,738,870 |
| Net Contributions | -$5,347,771 |
| Other Expense | $8,986,648 |
| Grants | $8,198,604 |
| Ending Balance | $828,219,619 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Albert Einstein College Of Medicine Bronx, NY | $1,023,925,401 | $371,509,260 |
Bentley University Waltham, MA | $681,081,992 | $316,624,866 |
Mcphs University Boston, MA | $1,998,877,330 | $374,201,406 |
Teachers College Columbia University New York, NY | $726,324,570 | $250,184,193 |
Feinberg Graduate School Of The Weizmann Institute Of Science New York, NY | $6,818,981 | $172,532,346 |
Philadelphia College Of Osteopathic Medicine Philadelphia, PA | $181,055,167 | $168,282,211 |
New York Medical College Valhalla, NY | $318,677,910 | $119,697,970 |
Lake Erie College Of Osteopathic Medicine Inc Erie, PA | $757,028,043 | $202,994,752 |
Touro University New York, NY | $83,518,573 | $93,950,601 |
New York Law School New York, NY | $345,948,911 | $82,190,230 |
Brooklyn Law School Brooklyn, NY | $395,638,685 | $73,619,300 |
Bank Street College Of Education New York, NY | $91,645,236 | $64,451,080 |