Mt Sinai Health Care Foundation
- Assets
- $168.4m
- Revenue
- $5.6m
- Investments
- $47.2m
- Employees
- 7
- Location
- Cleveland, OH
- Founding
- 11/1994
- Data as of
- 06/2022
- EIN
- 34-1777878
Organization Overview
Mt Sinai Health Care Foundation is located in Cleveland, OH. The organization was established in 1994. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. As of 06/2022, Mt Sinai Health Care Foundation employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mt Sinai Health Care Foundation 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 06/2022, Mt Sinai Health Care Foundation generated $5.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.6% each year . All expenses for the organization totaled $8.9m during the year ending 06/2022. While expenses have increased by 5.9% 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 2016, Mt Sinai Health Care Foundation has awarded 354 individual grants totaling $40,107,908. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
HEALTH GRANT MAKER AND SUPPORTING ORGANIZATION TO THE JEWISH FEDERATION OF CLEVELAND (THE FEDERATION).
Describe the Organization's Program Activity:
TO ENGAGE IN GRANT MAKING TO SUPPORT AND CARRY OUT THE PURPOSES OF THE JEWISH FEDERATION OF CLEVELAND, BY ENCOURAGING ACTIVITIES DESIGNED TO IMPROVE THE HEALTH STATUS OF THE RESIDENTS OF GREATER CLEVELAND, OH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mitchell Balk President | Officer | 40 | $366,954 |
Dan Cohn Vice President | Officer | 40 | $154,368 |
Ira C Kaplan Chair | OfficerTrustee | 8 | $0 |
James A Ratner Vice-Chair | OfficerTrustee | 2 | $0 |
Beth D Rosenberg Vice-Chair | OfficerTrustee | 2 | $0 |
Michael Goldberg Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $91,326 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $20,577 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $111,903 |
| Total Program Service Revenue | $0 |
| Investment income | $4,231,333 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,227,197 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,570,433 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,041,217 |
| 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. | $611,284 |
| Compensation of current officers, directors, key employees. | $109,411 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $379,648 |
| Pension plan accruals and contributions | $29,402 |
| Other employee benefits | $69,838 |
| Payroll taxes | $56,225 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $37,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $263,787 |
| Fees for services: Other | $94,709 |
| Advertising and promotion | $1,087 |
| Office expenses | $71,581 |
| Information technology | $37,488 |
| Royalties | $0 |
| Occupancy | $39,920 |
| Travel | $6,902 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,285 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $27,846 |
| Insurance | $9,887 |
| All other expenses | $9,391 |
| Total functional expenses | $8,906,997 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,003,571 |
| Savings and temporary cash investments | $12,483,242 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,644,281 |
| 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 | $0 |
| Net Land, buildings, and equipment | $506,582 |
| Investments—publicly traded securities | $102,114,186 |
| Investments—other securities | $47,233,208 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $416,950 |
| Total assets | $168,402,020 |
| Accounts payable and accrued expenses | $462,325 |
| Grants payable | $7,100,251 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $11,029,013 |
| 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 | $0 |
| Total liabilities | $18,591,589 |
| Net assets without donor restrictions | $67,186,822 |
| Net assets with donor restrictions | $82,623,609 |
| 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 | $168,402,020 |
Grants Awarded
Over the last fiscal year, Mt Sinai Health Care Foundation has awarded $7,169,091 in support to 54 organizations.
| Grant Recipient | Amount |
|---|---|
JEWISH FEDERATION OF CLEVELAND PURPOSE: SEE PART IV | $2,525,785 |
CANOPY CHILD ADVOCACY CENTER PURPOSE: SEE PART IV | $199,453 |
JEWISH FEDERATIONS OF NORTH AMERICA PURPOSE: SEE PART IV | $150,000 |
ENTERPRISE COMMUNITY PARTNERS INC PURPOSE: SEE PART IV | $75,000 |
PRETERM CLEVELAND PURPOSE: SEE PART IV | $75,000 |
CASE WESTERN RESERVE UNIVERSITY PURPOSE: SEE PART IV | $1,185,000 |