Albert Einstein Healthcare Network
- Assets
- $101.9m
- Revenue
- $75.2m
- Investments
- $16.5m
- Employees
- 522
- Location
- Philadelphia, PA
- Founding
- 08/1984
- Data as of
- 06/2021
- EIN
- 23-2290323
Organization Overview
Albert Einstein Healthcare Network is located in Philadelphia, PA. The organization was established in 1984. According to its NTEE Classification (E12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Health Care and related organizations. As of 06/2021, Albert Einstein Healthcare Network employed 522 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Albert Einstein Healthcare Network 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 06/2021, Albert Einstein Healthcare Network generated $75.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (8.0%) each year. All expenses for the organization totaled $79.4m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (3.3%) per year over the past 6 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
SEE SCHEDULE O
Describe the Organization's Program Activity:
THE ALBERT EINSTEIN HEALTHCARE NETWORK PARENT CORPORATION PROVIDES HEALTH EDUCATION; HEALTH PROMOTION AND FUNDRAISING ACTIVITIES; CONDUCTS HEALTH SYSTEM WIDE PLANNING; ESTABLISHES OVERALL GOALS; AND OVERSEES FUND MANAGEMENT. THE ENTITY ALSO PROVIDES ADMINISTRATIVE AND GENERAL SERVICES FOR WHICH ITS RELATED MEMBER ORGANIZATIONS PAY A MANAGEMENT FEE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barry Freedman President & CEO (thru 12/20) | OfficerTrustee | 20 | $2,437,511 |
Kenneth Levitan President & CEO (beg 1/21) | OfficerTrustee | 20 | $949,044 |
Penny J Rezet ESQ Chief Legal Counsel- Ass't Sec | Officer | 20 | $877,541 |
Gerard Blaney CFO - Assistant Treasurer | Officer | 20 | $834,635 |
Beth Duffy COO - Emcm | 1 | $640,025 | |
Rohit Gulati Evp & Chief Medical Officer | Officer | 10 | $618,825 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hogan Lovells Us Llp Legal Services | 6/29/21 | $5,563,804 |
Harmelin Media Promotional Services | 6/29/21 | $3,575,749 |
Nera Economic Consulting Consulting Services | 6/29/21 | $3,467,854 |
Deloitte Consulting Llp Consulting Services | 6/29/21 | $2,323,137 |
Bates White Llc Consulting Services | 6/29/21 | $1,935,178 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $73,825,266 |
| Investment income | $351,523 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $481,016 |
| Net Gain/Loss on Asset Sales | $497,636 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $75,155,441 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $6,261,598 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $33,146,754 |
| Pension plan accruals and contributions | $3,640,963 |
| Other employee benefits | $3,015,152 |
| Payroll taxes | $2,222,083 |
| Fees for services: Management | $0 |
| Fees for services: Legal | -$2,509,474 |
| Fees for services: Accounting | $628,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $24,000 |
| Fees for services: Other | $6,298,366 |
| Advertising and promotion | $7,841,812 |
| Office expenses | $333,585 |
| Information technology | $2,248,742 |
| Royalties | $0 |
| Occupancy | $591,422 |
| Travel | $31,676 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $36,160 |
| Interest | $0 |
| Payments to affiliates | $4,115,575 |
| Depreciation, depletion, and amortization | $5,603,847 |
| Insurance | $918,107 |
| All other expenses | $2,257,929 |
| Total functional expenses | $79,358,105 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $48,066,010 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,143,807 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $664,286 |
| Net Land, buildings, and equipment | $4,156,555 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $16,547,677 |
| Investments—program-related | $10,862,003 |
| Intangible assets | $0 |
| Other assets | $11,452,187 |
| Total assets | $101,892,525 |
| Accounts payable and accrued expenses | $57,252,877 |
| Grants payable | $0 |
| Deferred revenue | $3,900 |
| 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 | $26,794,092 |
| Total liabilities | $84,050,869 |
| Net assets without donor restrictions | $17,841,656 |
| Net assets with donor restrictions | $0 |
| 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 | $101,892,525 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Albert Einstein Healthcare Network has recieved totaling $15,400.
| Awarding Organization | Amount |
|---|---|
Parkinson Council Philadelphia, PA PURPOSE: SALARY SUPPORT FOR FOUR PT, A PT AIDE, AND ADMIN TIME FOR WEEKLY IN-PERSON CLASSES AT TWO LOCATIONS. | $7,900 |
United Way Of Bergen County Paramus, NJ PURPOSE: DONOR DESIGNATION | $7,500 |
Endowment Analysis
| Beg. Balance | $12,853,448 |
| Earnings | $3,694,229 |
| Ending Balance | $16,547,677 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New York-Presbyterian Fund Inc New York, NY | $3,232,360,059 | $309,360,854 |
Summit Physician Services York, PA | $14,991,039 | $137,854,804 |
Hearthstone Senior Communities Inc Bala Cynwyd, PA | $23,952,064 | $83,448,118 |
University Of Maryland Faculty Physicians Inc Baltimore, MD | $357,134,333 | $108,138,580 |
Albert Einstein Healthcare Network Philadelphia, PA | $101,892,525 | $75,155,441 |
Northwell Health Foundation Westbury, NY | $461,901,470 | $139,689,097 |
Penn Highlands Healthcare Dubois, PA | $174,985,367 | $81,650,655 |
Good Shepherd Rehabilitation Network Allentown, PA | $439,427,307 | $71,655,842 |
Catholic Health System Of Long Island Rockville Centre, NY | $580,308,381 | $30,450,419 |
Elizabeth Gamble Deaconess Home Association Cincinnati, OH | $1,636,339,650 | $77,696,826 |
United Breast Cancer Foundation Inc Huntington, NY | $11,258,240 | $32,891,411 |
Johns Hopkins Hospital Endowment Fund Incorporated Baltimore, MD | $745,035,781 | $11,088,977 |