Albert Einstein Healthcare Network Group Letter Ruling
- Assets
- $1.5b
- Revenue
- $1.5b
- Investments
- $0.0
- Employees
- 10,034
- Location
- Philadelphia, PA
- Founding
- 08/1984
- Data as of
- 06/2021
- EIN
- 46-5338502
Organization Overview
Albert Einstein Healthcare Network Group Letter Ruling 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 06/2021, Albert Einstein Healthcare Network Group Letter Ruling employed 10,034 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Albert Einstein Healthcare Network Group Letter Ruling 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 Group Letter Ruling generated $1.5b in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $1.4b during the year ending 06/2021. While expenses have increased by 3.3% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
AEHN GROUP IS LICENSED TO OPERATE 721 ACUTE CARE BEDS. TERTIARY CARE IS PROVIDED THROUGH THREE LOCATIONS, ITS MAIN CAMPUS IN NORTH PHILADELPHIA, ITS CAMPUS AT ELKINS PARK AND ITS CAMPUS AT MONTGOMERY COUNTY. IN ADDITION, ITS MAIN CAMPUS OPERATES A 24-HOUR LEVEL I TRAUMA CENTER WITH AN OPEN ADMISSIONS POLICY PROVIDING EMERGENCY SERVICES TO THE COMMUNITY.
AEHN GROUP PROVIDES HEALTH AND HEALING SERVICES TO THE COMMUNITIES IT SERVES AND TRAINS PHYSICIANS TO BE ACCOMPLISHED LEADERS THROUGH SCHOLARLY ACTIVITY, EXCELLENCE IN TEACHING AND PARTICIPATION IN RESEARCH.
AEHN GROUP IS LICENSED TO OPERATE 197 REHABILITATION BEDS. REHABILITATION SERVICES ARE PROVIDED IN A 17-BED SETTING ON ITS MAIN CAMPUS AND 50-BED SETTING AT FOUR OTHER HOSPITALS AND IN A 130-BED SETTING AT THE ELKINS PARK LOCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Kotapka Physician | 40 | $1,562,209 | |
Sumeet Mainigi Electrophysiologist | 40 | $1,122,015 | |
Radi Zaki Chair-Surgery General | 40 | $1,104,017 | |
Patrick Cooper MD Physician | 40 | $1,087,343 | |
Terence S Matalon Physician | 40 | $1,029,496 | |
Steven L Sivak MD Cmo - President | OfficerTrustee | 39 | $837,130 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cerner Corproation It Services | 6/29/21 | $28,041,571 |
Aramark Healthcare Support Services Contracted Services | 6/29/21 | $7,247,506 |
Change Healthcare Tech Llc Contracted Services | 6/29/21 | $4,655,789 |
Duffy Fulginita Legal Services | 6/29/21 | $3,955,000 |
Trimedx Inc Contracted Services | 6/29/21 | $11,592,479 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $914,173 |
| Related organizations | $4,115,575 |
| Government grants | $15,945,996 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,618,863 |
| Noncash contributions included in lines 1a–1f | $133,736 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $26,594,607 |
| Total Program Service Revenue | $1,380,572,524 |
| Investment income | $30,814,439 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,546,799 |
| Net Gain/Loss on Asset Sales | $28,269,329 |
| Net Income from Fundraising Events | -$55,476 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,468,742,222 |
| 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. | $9,478,470 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $649,050,014 |
| Pension plan accruals and contributions | $40,502,947 |
| Other employee benefits | $50,394,542 |
| Payroll taxes | $42,069,443 |
| Fees for services: Management | $72,084,097 |
| Fees for services: Legal | $314,150 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $533,728 |
| Fees for services: Other | $128,044,833 |
| Advertising and promotion | $177,983 |
| Office expenses | $19,959,815 |
| Information technology | $20,701,892 |
| Royalties | $0 |
| Occupancy | $20,948,190 |
| Travel | $650,879 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $100,584 |
| Interest | $20,694,613 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $66,902,143 |
| Insurance | $46,996,354 |
| All other expenses | $176,762,369 |
| Total functional expenses | $1,406,663,901 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,847,757 |
| Savings and temporary cash investments | $11,812,231 |
| Pledges and grants receivable | $5,000,000 |
| Accounts receivable, net | $134,017,114 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $23,790,195 |
| Prepaid expenses and deferred charges | $14,987,176 |
| Net Land, buildings, and equipment | $532,958,996 |
| Investments—publicly traded securities | $533,807,614 |
| Investments—other securities | $0 |
| Investments—program-related | $103,044,221 |
| Intangible assets | $0 |
| Other assets | $158,387,522 |
| Total assets | $1,548,652,826 |
| Accounts payable and accrued expenses | $315,126,310 |
| Grants payable | $0 |
| Deferred revenue | $2,313,860 |
| Tax-exempt bond liabilities | $439,547,483 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $5,180,390 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $354,489,245 |
| Total liabilities | $1,116,657,288 |
| Net assets without donor restrictions | $278,816,202 |
| Net assets with donor restrictions | $153,179,336 |
| 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 | $1,548,652,826 |
Endowment Analysis
| Beg. Balance | $126,960,405 |
| Earnings | $26,050,931 |
| Net Contributions | $6,607,000 |
| Other Expense | $6,439,000 |
| Ending Balance | $153,179,336 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
St Josephs Health System Subordinate Group Return Paterson, NJ | $1,081,595,215 | $963,799,571 |
Hh Medstar Health Inc Columbia, MD | $303,491,180 | $865,504,764 |
University Hospitals Health System Inc Shaker Heights, OH | $6,082,138,000 | $960,105,000 |
Atlanticare Health System Inc Egg Harbor Township, NJ | $1,893,827,880 | $909,225,575 |
Aultman Health Foundation Group Return Canton, OH | $450,362,832 | $880,954,681 |
Geisinger System Services Danville, PA | $1,398,222,343 | $715,016,181 |
Bon Secours Charity Health System Affiliated Group Suffern, NY | $223,032,633 | $606,730,244 |
Highmark Health Pittsburgh, PA | $708,603,703 | $583,319,053 |
West Virginia University Medical Corporation Morgantown, WV | $212,648,584 | $571,153,959 |
Adena Health System Chillicothe, OH | $876,980,484 | $590,625,475 |
Hackensack Meridian Health Inc Edison, NJ | $279,460,343 | $549,822,020 |
The Johns Hopkins Health System Corporation Baltimore, MD | $2,298,014,981 | $561,406,992 |