Variety Childrens Hospital
- Assets
- $1.5b
- Revenue
- $777.0m
- Investments
- $139.0m
- Employees
- 3,597
- Location
- Miami, FL
- Founding
- 05/1951
- Data as of
- 12/2021
- EIN
- 59-0638499
Organization Overview
Variety Childrens Hospital, operating under the name Nicklaus Children's Hospital, is located in Miami, FL. The organization was established in 1951. According to its NTEE Classification (E24) the organization is classified as: Specialty Hospitals, under the broad grouping of Health Care and related organizations. As of 12/2021, Nicklaus Children's Hospital employed 3,597 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nicklaus Children's Hospital 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, Nicklaus Children's Hospital generated $777.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $671.5m during the year ending 12/2021. While expenses have increased by 3.4% 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
THE HOSPITAL PROVIDES SPECIALIZED PEDIATRIC HEALTH CARE TO CHILDREN REGARDLESS OF RACE, CREED, SEX, NATIONAL ORIGIN, AGE, OR ABILITY TO PAY.
Describe the Organization's Program Activity:
VARIETY CHILDREN'S HOSPITAL, ESTABLISHED IN 1950, OWNS AND OPERATES A PEDIATRIC SPECIALTY HOSPITAL NOW KNOWN AS NICKLAUS CHILDREN'S HOSPITAL. THE HOSPITAL IS ONE OF THE LARGEST FREESTANDING PEDIATRIC TEACHING HOSPITALS IN THE SOUTHEASTERN UNITED STATES. IT PROVIDES SPECIALIZED PEDIATRIC HEALTHCARE FOR CHILDREN REGARDLESS OF RACE, CREED, SEX, NATIONAL ORIGIN, AGE OR ABILITY TO PAY. THE HOSPITAL HAS 309 LICENSED BEDS. NICKLAUS CHILDREN'S HOSPITAL SERVES AS A REFERRAL CENTER FOR CHILDREN WITH COMPLEX, CRITICAL OR LIFE-THREATENING ILLNESSES REQUIRING SPECIALIZED CARE. IT HAS A STATE-DESIGNATED PEDIATRIC TRAUMA CENTER. MANY PATIENTS ARE REFERRED BY OTHER HOSPITALS REGARDLESS OF THE EXISTENCE OF FORMAL ARRANGEMENTS.. (CONTINUED ON SCHEDULE O)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed President - CEO (former) | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Phi Air Medical Llc Flight Hours | 12/30/21 | $3,176,117 |
Aya Healthcare Inc Nurse Services | 12/30/21 | $1,720,760 |
Miami Associates In Pediatric Surgery Pa Physician Services | 12/30/21 | $1,529,420 |
A And S Total Cleaning Cleaning Services | 12/30/21 | $1,405,930 |
Mayo Medical Laboratories Laboratory Services | 12/30/21 | $1,436,688 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $7,030,463 |
| Government grants | $15,757,123 |
| All other contributions, gifts, grants, and similar amounts not included above | $48,274 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $22,835,860 |
| Total Program Service Revenue | $712,432,301 |
| Investment income | $10,440,347 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $4,965 |
| Net Rental Income | $5,515,687 |
| Net Gain/Loss on Asset Sales | $15,607,976 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $356,318 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $776,970,014 |
| 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. | $1,521,222 |
| Compensation of current officers, directors, key employees. | $304,244 |
| Compensation to disqualified persons | $1,056,951 |
| Other salaries and wages | $199,358,032 |
| Pension plan accruals and contributions | $1,365,096 |
| Other employee benefits | $32,171,416 |
| Payroll taxes | $13,875,764 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,696,650 |
| Fees for services: Other | $168,664,725 |
| Advertising and promotion | $15,715 |
| Office expenses | $6,473,475 |
| Information technology | $394,152 |
| Royalties | $0 |
| Occupancy | $30,117,507 |
| Travel | $116,524 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $9,881,305 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $41,517,628 |
| Insurance | $17,153,168 |
| All other expenses | $1,522,145 |
| Total functional expenses | $671,519,701 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,691,494 |
| Savings and temporary cash investments | $34,105,456 |
| Pledges and grants receivable | $147,463,428 |
| Accounts receivable, net | $101,683,508 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $379,836 |
| Inventories for sale or use | $11,911,190 |
| Prepaid expenses and deferred charges | $3,829,198 |
| Net Land, buildings, and equipment | $344,080,446 |
| Investments—publicly traded securities | $466,739,260 |
| Investments—other securities | $138,977,425 |
| Investments—program-related | $37,886,008 |
| Intangible assets | $0 |
| Other assets | $210,783,143 |
| Total assets | $1,508,530,392 |
| Accounts payable and accrued expenses | $32,557,936 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $492,085,009 |
| 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 | $180,138,870 |
| Total liabilities | $704,781,815 |
| Net assets without donor restrictions | $665,841,118 |
| Net assets with donor restrictions | $137,907,459 |
| 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 | $1,508,530,392 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Variety Childrens Hospital has recieved totaling $419,552.
| Awarding Organization | Amount |
|---|---|
Ldg & Lpr Charitable Foundation Jupiter, FL PURPOSE: CHARITABLE | $246,991 |
The Miami Foundation Inc Miami, FL PURPOSE: PROGRAM SUPPORT | $62,500 |
Cystic Fibrosis Foundation Bethesda, MD PURPOSE: CF CARE CENTER | $54,150 |
University Of Miami Coral Gables, FL PURPOSE: RESEARCH | $36,411 |
Trinity Credit Counseling Inc Cincinnati, OH PURPOSE: GENERAL SUPPORT OF THE ORGANIZATION | $12,000 |
Institute For Advanced Clinical Trials For Children Rockville, MD PURPOSE: ADMINISTRATIVE STARTUP FEE | $7,500 |
Endowment Analysis
| Beg. Balance | $51,847,151 |
| Earnings | $6,880,578 |
| Net Contributions | $1,424,279 |
| Other Expense | $2,079,106 |
| Ending Balance | $58,072,902 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Shriners Hospitals For Children Tampa, FL | $10,877,290,799 | $896,169,390 |
Childrens Hospital Of Alabama Birmingham, AL | $847,897,331 | $804,255,338 |
Variety Childrens Hospital Miami, FL | $1,508,530,392 | $776,970,014 |
Brooks Rehabilitation Hospital Jacksonville, FL | $156,540,953 | $127,892,982 |
The Shriners Hospital For Children Tampa, FL | $587,730,249 | $83,244,690 |
Lifestream Behavioral Center Inc Leesburg, FL | $60,011,568 | $62,613,825 |
Florida Proton Therapy Institute Inc Jacksonville, FL | $150,447,220 | $41,049,374 |
Baycare Alliant Hospital Inc Dunedin, FL | $10,505,745 | $19,943,014 |
Southern Crescent Hospital For Specialty Care Inc Riverdale, GA | $4,410,694 | $7,739,688 |
Florida Elks Childrens Therapy Services Inc Umatilla, FL | $461,628 | $3,806,118 |
Georgia Mountains Hospice Inc Jasper, GA | $1,571,072 | $2,350,267 |
Childrens Cancer Center Inc Tampa, FL | $3,487,210 | $2,609,619 |