Albert Einstein Healthcare Network
- Assets
- $1.6b
- Revenue
- $1.5b
- Investments
- $0.0
- Employees
- 10,351
- Location
- Philadelphia, PA
- Founding
- 08/1984
- Data as of
- 06/2022
- EIN
- 46-5338502
Organization Overview
Albert Einstein Healthcare Network is located in Philadelphia, PA. The organization was established in 1984. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. As of 06/2022, Albert Einstein Healthcare Network employed 10,351 individuals. This organization is a subordinate organization within 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 06/2022, Albert Einstein Healthcare Network generated $1.5b in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $1.4b during the year ending 06/2022. While expenses have increased by 3.1% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE ORGANIZATION IS THE PROVISION OF COMPASSIONATE, HIGH QUALITY HEALTH CARE IN ORDER TO ELEVATE THE HEALTH STATUS OF THE PATIENTS IT SERVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENSES INCURRED IN PROVIDING EMERGENCY AND OTHER MEDICALLY NECESSARY HEALTHCARE SERVICES TO ALL INDIVIDUALS IN A NON-DISCRIMINATORY MANNER REGARDLESS OF RACE, COLOR, CREED, SEX, NATIONAL ORIGIN OR ABILITY TO PAY. PLEASE REFER TO SCHEDULE O FOR THE ORGANIZATION'S COMMUNITY BENEFIT STATEMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Kotapka MD Physician | 55 | $1,473,602 | |
Kenneth D Levitan Trustee - President & CEO | OfficerTrustee | 55 | $0 |
James Raphael MD Physician | 55 | $1,253,911 | |
Gerard F Blaney Trustee - Cfo/asst Treasurer | OfficerTrustee | 55 | $0 |
Sumeet Mainigi MD Electrophysiologist | 55 | $1,122,720 | |
Patrick Cooper MD Physician | 55 | $1,195,868 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cerner Corporation It | 6/29/22 | $30,132,975 |
Aramark Healthcare Support Services Facility Management | 6/29/22 | $8,579,641 |
Workforce Logiq Management | 6/29/22 | $7,965,044 |
Ross Feller Casey Llp Legal | 6/29/22 | $6,960,068 |
Sodexo Inc Food Management | 6/29/22 | $4,941,479 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $686,814 |
| Related organizations | $5,604,356 |
| Government grants | $16,001,464 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,363,072 |
| Noncash contributions included in lines 1a–1f | $1,991,730 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $30,655,706 |
| Total Program Service Revenue | $1,386,784,173 |
| Investment income | $83,639,478 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,216,369 |
| Net Gain/Loss on Asset Sales | -$29,036,517 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,474,259,209 |
| 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. | $11,124,631 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $659,055,978 |
| Pension plan accruals and contributions | $11,307,935 |
| Other employee benefits | $57,557,602 |
| Payroll taxes | $44,382,787 |
| Fees for services: Management | $64,055,719 |
| Fees for services: Legal | $430,404 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $355,512 |
| Fees for services: Other | $161,211,170 |
| Advertising and promotion | $146,440 |
| Office expenses | $23,310,023 |
| Information technology | $24,198,928 |
| Royalties | $0 |
| Occupancy | $18,523,411 |
| Travel | $1,083,221 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $147,991 |
| Interest | $18,731,848 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $59,199,375 |
| Insurance | $44,282,767 |
| All other expenses | $0 |
| Total functional expenses | $1,434,481,733 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $137,211,109 |
| Savings and temporary cash investments | $71,286,692 |
| Pledges and grants receivable | $5,000,000 |
| Accounts receivable, net | $152,953,416 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $25,295,720 |
| Prepaid expenses and deferred charges | $10,907,630 |
| Net Land, buildings, and equipment | $667,522,593 |
| Investments—publicly traded securities | $254,717,215 |
| Investments—other securities | $0 |
| Investments—program-related | $133,783,563 |
| Intangible assets | $0 |
| Other assets | $157,897,762 |
| Total assets | $1,616,575,700 |
| Accounts payable and accrued expenses | $301,736,324 |
| Grants payable | $0 |
| Deferred revenue | $4,076,110 |
| 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 | $3,579,733 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $724,135,632 |
| Total liabilities | $1,033,527,799 |
| Net assets without donor restrictions | $443,931,798 |
| Net assets with donor restrictions | $139,116,103 |
| 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 | $1,616,575,700 |