Mount Sinai Medical Center Of Florida Inc
- Assets
- $992.4m
- Revenue
- $901.9m
- Investments
- $0.0
- Employees
- 5,393
- Location
- Miami Beach, FL
- Founding
- 05/1948
- Data as of
- 12/2021
- EIN
- 59-0624424
Organization Overview
Mount Sinai Medical Center Of Florida Inc is located in Miami Beach, FL. The organization was established in 1948. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. As of 12/2021, Mount Sinai Medical Center Of Florida Inc employed 5,393 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mount Sinai Medical Center Of Florida Inc 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, Mount Sinai Medical Center Of Florida Inc generated $901.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $849.9m during the year ending 12/2021. 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HIGH QUALITY HEALTH CARE TO OUR DIVERSE COMMUNITY ENHANCED THROUGH TEACHING, RESEARCH, CHARITY CARE AND FINANCIAL RESPONSIBILITY.
Describe the Organization's Program Activity:
SAFETY NET HOSPITAL OPERATIONSIN 2021, MOUNT SINAI SERVED 25,086 INPATIENT ADMISSIONS, 226,437 OUTPATIENT ADMISSIONS, 51,015 EMERGENCY CARE VISITS IN ITS PRIMARY SERVICE AREA, 18,075 IN ITS SENIOR HEALTH TARGET AREA OF AVENTURA AND 34,212 IN ITS HIALEAH FREE STANDING EMERGENCY DEPARTMENT. MOUNT SINAI PERFORMED 13,360 SURGERIES MEETING SURGICAL CARE STANDARDS AND WELCOMED 2,207 INFANTS WITH HEALTHY BIRTH WEIGHTS.
TEACHING & RESEARCHIN 2021, MOUNT SINAI RETAINED ITS OWN TEACHING FACULTY AND 14 ACCREDITED GRADUATE MEDICAL EDUCATION PROGRAMS, TEACHING 205 RESIDENTS AND FELLOWS. MOUNT SINAI PROVIDED A TEACHING CLINICAL ENVIRONMENT FOR PHYSICIANS TO BECOME BOARD CERTIFIED. ADDITIONALLY, TO MEET THE DEMANDS OF THE WORKFORCE, MOUNT SINAI TAUGHT 44 NURSING STUDENTS, 177 MEDICAL STUDENTS AND 114 ALLIED HEALTH STUDENTS FOR HEALTH CARE CAREERS. TO SUPPLEMENT THE ACADEMIC ENVIRONMENT IN 2021, MOUNT SINAI HAD 171 RESEARCH STUDIES APPROVED BY A NATIONAL REVIEW BOARD OR BY A MOUNT SINAI INSTITUTION PEER REVIEW BOARD. MOUNT SINAI HAD 120 CANCER STUDIES, 18 MEMORY DISORDER, 12 CARDIAC, AND 21 OTHER STUDIES.
PHYSICIAN NETWORK AND ACCESS TO CAREACCORDING TO THE 2017 UPDATE TO THE AAMC-COMMISSIONED STUDY OF PHYSICIAN SUPPLY AND DEMAND, PHYSICIAN DEMAND IS PROJECTED TO CONTINUE GROWING FASTER THAN THE SUPPLY. (THE COMPLEXITIES OF PHYSICIAN SUPPLY AND DEMAND: PROJECTIONS FROM 2015 TO 2030, IHS MARKET, FEBRUARY 17, 2017) THE STATE OF FLORIDA AGENCY FOR HEALTHCARE, AND THE STATEWIDE MEDICAID RESIDENCY PROGRAM SUPPORTED THE TEACHING OF SPECIALTY CLINICAL PROVIDERS. MOUNT SINAI PROVIDED BOTH ACCESS TO CARE AND SUPPORT FOR THE TEACHING OF 177 MEDICAL STUDENTS AND 205 RESIDENTS AND FELLOWS. MOUNT SINAI SERVICES 13 LOCATIONS IN TWO COUNTIES BY PROVIDING 264,000 PRIMARY OR SPECIALTY CARE VISITS. MOUNT SINAI HAS WIDENED ACCESS TO SPECIALTY CARE IN FLORIDA AND THE STATE MEDICAID PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Xydas Employed MD Chief, Cardiothoracic Surgery | 60 | $2,462,365 | |
Steven Sonenreich President/ceo (end 2/21) | OfficerTrustee | 60.5 | $1,560,368 |
Alexander Mendez Executive Vp/cfo | Officer | 60 | $1,326,608 |
Samuel Goldsmit Employed MD Staff Physician, Neurosurgery | 60 | $1,263,719 | |
Gino Santorio President/ceo (beg. 2/21) | OfficerTrustee | 60.5 | $1,152,304 |
Nicolas Kuritzky Employed MD Staff Physician, Radiation Oncology | 60 | $1,008,407 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aya Healthcare Nursing Labor | 12/30/21 | $2,968,282 |
Brilliant Healthcare Training Inc Nursing Labor | 12/30/21 | $2,562,441 |
Trimedx Management Services For Equipment Mainte | 12/30/21 | $6,535,417 |
Dva Healthcare Renal Care Inc Management Of Dialysis Patients | 12/30/21 | $2,378,855 |
Ccs-circulatory Support Llc Perfusion & Ecmo Services | 12/30/21 | $2,320,306 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $11,075,215 |
| Government grants | $392,090 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,419 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,472,724 |
| Total Program Service Revenue | $874,137,836 |
| Investment income | $2,056,051 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$409,769 |
| Net Gain/Loss on Asset Sales | -$189,784 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $901,856,611 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $150,000 |
| 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. | $11,528,166 |
| Compensation of current officers, directors, key employees. | $1,749,216 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $333,341,449 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $31,319,606 |
| Payroll taxes | $19,858,293 |
| Fees for services: Management | $500,431 |
| Fees for services: Legal | $903,602 |
| Fees for services: Accounting | $452,200 |
| Fees for services: Lobbying | $449,756 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,782,820 |
| Advertising and promotion | $4,095,077 |
| Office expenses | $24,849,931 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,813,525 |
| Travel | $357,573 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,208,763 |
| Interest | $10,912,837 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $45,419,343 |
| Insurance | $24,823,016 |
| All other expenses | $23,200,849 |
| Total functional expenses | $849,941,461 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $293,360,600 |
| Pledges and grants receivable | $1,445,857 |
| Accounts receivable, net | $91,114,982 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $11,534,519 |
| Prepaid expenses and deferred charges | $8,146,672 |
| Net Land, buildings, and equipment | $412,283,421 |
| Investments—publicly traded securities | $163,015,116 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,526,497 |
| Total assets | $992,427,664 |
| Accounts payable and accrued expenses | $85,219,113 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $404,872,059 |
| 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 | $201,130,294 |
| Total liabilities | $691,221,466 |
| Net assets without donor restrictions | $301,206,198 |
| 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 | $992,427,664 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Mount Sinai Medical Center Of Florida Inc has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
Pagoumian Fam Charitable Tr Sunny Isles Beach, FL PURPOSE: SUPPORT FOR NEW SURGICAL TOWER AND EMERGENCY DEPARTMENT | $25,000 |
Endowment Analysis
| Beg. Balance | $111,845,000 |
| Earnings | $445,000 |
| Admin Expense | $599,000 |
| Net Contributions | $19,552,000 |
| Other Expense | $10,503,000 |
| Ending Balance | $120,740,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Community Hospital Inc Tampa, FL | $1,235,213,568 | $915,701,443 |
Morton Plant Hospital Association Inc Clearwater, FL | $1,389,589,934 | $934,836,650 |
Mount Sinai Medical Center Of Florida Inc Miami Beach, FL | $992,427,664 | $901,856,611 |
Shands Jacksonville Medical Center Inc Jacksonville, FL | $750,537,278 | $894,366,475 |
Lakeland Regional Medical Center Inc Lakeland, FL | $799,528,886 | $860,757,084 |
Tallahassee Memorial Healthcare Inc Tallahassee, FL | $1,130,180,703 | $783,859,263 |
Baptist Hospital Inc Pensacola, FL | $1,048,797,666 | $758,112,762 |
Medical Center Of Central Georgia Inc Macon, GA | $1,397,526,718 | $800,413,800 |
Holmes Regional Medical Center Rockledge, FL | $903,830,612 | $776,752,725 |
Phoebe Putney Memorial Hospital Inc Albany, GA | $729,879,818 | $712,342,689 |
Cobb Hospital Marietta, GA | $403,732,052 | $857,038,951 |
South Miami Hospital Inc Miami, FL | $413,367,432 | $763,720,505 |