Maimonides Medical Center-
- Assets
- $1.7b
- Revenue
- $1.3b
- Investments
- $0.0
- Employees
- 7,998
- Location
- Brooklyn, NY
- Founding
- 12/1949
- Data as of
- 12/2021
- EIN
- 11-1635081
Organization Overview
Maimonides Medical Center- is located in Brooklyn, NY. The organization was established in 1949. 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 12/2022, Maimonides Medical Center- employed 7,998 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Maimonides Medical Center- 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, Maimonides Medical Center- generated $1.3b in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $1.5b during the year ending 12/2021. While expenses have increased by 4.7% 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 2014, Maimonides Medical Center- has awarded 174 individual grants totaling $3,417,603. 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
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
INPATIENT SERVICES. THIS IS FURTHER DESCRIBED IN SCHEDULE O.
EMERGENCY SERVICES. THIS IS FURTHER DESCRIBED IN SCHEDULE O.
MATERNITY SERVICES. THIS IS FURTHER DESCRIBED IN SCHEDULE O.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jacob Shani MD Chair, Cardiology | 40 | $3,498,724 | |
Patrick I Borgen MD Chair, Dept Of Surgery | 40 | $1,989,629 | |
David Edelstein MD Orthopedic Surgery | 40 | $1,928,500 | |
Greg H Ribakove MD Chief Cardiothoracic Surgery | 40 | $1,794,058 | |
Robert A Frankel MD Dir, Interventional Cardiology | 40 | $1,784,952 | |
Kenneth D Gibbs President & CEO | OfficerTrustee | 40 | $1,760,796 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Blue Hill Data Services It Services | 12/30/22 | $5,158,770 |
Alvarez Marsal Hlthcare Ind Group Healthcare Consultng | 12/30/22 | $5,548,990 |
Alliance Healthcare Services Medical Services | 12/30/22 | $3,859,379 |
Allscripts Healthcare Llc It Services | 12/30/22 | $12,493,257 |
Anesthesiology Assoc Of Boro Park L Medical Services | 12/30/22 | $15,270,827 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $47,081,065 |
| Investment income | $7,348,560 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $488 |
| Net Income from Fundraising Events | -$218,861 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,327,224,906 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $1,439,302 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $7,699,971 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $705,733,445 |
| Pension plan accruals and contributions | $51,344,163 |
| Other employee benefits | $108,632,205 |
| Payroll taxes | $44,577,743 |
| Fees for services: Management | $1,379,745 |
| Fees for services: Legal | $3,595,643 |
| Fees for services: Accounting | $990,183 |
| Fees for services: Lobbying | $786,051 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $478,961 |
| Fees for services: Other | $64,871,581 |
| Advertising and promotion | $5,932,566 |
| Office expenses | $6,503,095 |
| Information technology | $31,535,333 |
| Royalties | $0 |
| Occupancy | $43,184,381 |
| Travel | $173,309 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,585,495 |
| Interest | $7,488,456 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $58,392,761 |
| Insurance | $57,088,764 |
| All other expenses | $0 |
| Total functional expenses | $1,493,123,688 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,734,972 |
| Savings and temporary cash investments | $79,661,901 |
| Pledges and grants receivable | $2,930,503 |
| Accounts receivable, net | $155,089,325 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $17,012,599 |
| Prepaid expenses and deferred charges | $9,840,113 |
| Investments—publicly traded securities | $360,899,330 |
| Investments—other securities | $0 |
| Investments—program-related | $107,969,719 |
| Intangible assets | $0 |
| Other assets | $532,866,677 |
| Total assets | $1,684,839,092 |
| Accounts payable and accrued expenses | $238,990,061 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $135,845,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $254,441,171 |
| Unsecured mortgages and notes payable | $25,516,143 |
| Other liabilities | $624,677,042 |
| Total liabilities | $1,279,469,417 |
| Net assets without donor restrictions | $402,365,675 |
| Net assets with donor restrictions | $3,004,000 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $405,369,675 |
Grants Awarded
Over the last fiscal year, Maimonides Medical Center- has awarded $173,415 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN LUNG ASSOCIATION PURPOSE: General Support | $10,000 |
ARAB AMERICAN ASSOC OF NY PURPOSE: GENERAL SUPPORT | $9,000 |
BANGLADESHI AMERICAN FRIENDSHIP SOCIETY PURPOSE: GENERAL SUPPORT | $6,000 |
BAY RIDGE CENTER PURPOSE: GENERAL SUPPORT | $10,000 |
BEDFORD STUYVESANT RESTORATION CORP PURPOSE: GENERAL SUPPORT | $8,690 |
BEIT EL-MAQDIS ISLAMIC CENTER PURPOSE: GENERAL SUPPORT | $9,000 |