Mount Sinai Hospital

Mount Sinai Hospital Overview

Mount Sinai Hospital is located in New York, NY. The organization was established in 1938. 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 12/2019, Mount Sinai Hospital employed 18,655 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.

For the year ending 12/2019, Mount Sinai Hospital generated $3.1b in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 7.4% each year. All expenses for the organization totaled $3.0b during the year ending 12/2019. While expenses have increased by 7.4% per year over the past 5 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, Mount Sinai Hospital has awarded 51 individual grants totaling $649,015,026. 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2019

Describe the Organization's Mission:

Part 3 - Line 1

MOUNT SINAI PROVIDES COMPASSIONATE PATIENT CARE AND ADVANCED MEDICINE THROUGH EDUCATION, RESEARCH AND OUTREACH IN THE MANY DIVERSE COMMUNITIES IT SERVES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE MOUNT SINAI HOSPITAL PROVIDES QUALITY MEDICAL HEALTHCARE REGARDLESS OF RACE, CREED, SEX, NATIONAL ORIGIN, HANDICAP, AGE, OR ABILITY TO PAY. ALTHOUGH REIMBURSEMENT FOR SERVICES RENDERED IS CRITICAL TO THE OPERATION AND STABILITY OF THE MOUNT SINAI HOSPITAL, IT IS RECOGNIZED THAT NOT ALL INDIVIDUALS POSSESS THE ABILITY TO PURCHASE ESSENTIAL MEDICAL SERVICES AND HEALTHCARE EDUCATION. AS A MATTER OF POLICY, THE HOSPITAL PROVIDES SIGNIFICANT AMOUNTS OF PARTIALLY OR TOTALLY UNCOMPENSATED PATIENT CARE. FOR ACCOUNTING PURPOSES, SUCH UNCOMPENSATED CARE IS TREATED EITHER AS CHARITY CARE OR BAD DEBT EXPENSE. THE HOSPITAL'S CHARITY CARE POLICY ENSURES THE PROVISION OF QUALITY HEALTH CARE TO THE COMMUNITY SERVED WHILE CAREFULLY CONSIDERING THE ABILITY OF THE PATIENT TO PAY. THE POLICY HAS SLIDING FEE SCHEDULES FOR INPATIENT, AMBULATORY AND EMERGENCY SERVICES PROVIDED TO THE UNINSURED AND UNDER-INSURED PATIENTS WHO QUALIFY. PATIENTS ARE ELIGIBLE FOR THE CHARITY CARE FEE SCHEDULE IF THEY MEET CERTAIN INCOME TESTS. FURTHERMORE, AS PART OF ITS CHARITY CARE AND FINANCIAL AID POLICY, THE HOSPITAL OBTAINS AND USES ADDITIONAL FINANCIAL INFORMATION FOR UNINSURED OR UNDER-INSURED PATIENTS WHO HAVE NOT SUPPLIED THE REQUISITE INFORMATION TO QUALIFY FOR CHARITY CARE. THE ADDITIONAL INFORMATION OBTAINED IS USED BY THE HOSPITAL TO DETERMINE WHETHER TO QUALIFY PATIENTS FOR CHARITY CARE AND/OR FINANCIAL AID IN ACCORDANCE WITH THE HOSPITAL'S POLICIES. FOR ACCOUNTING AND DISCLOSURE PURPOSES, CHARITY CARE IS CONSIDERED TO BE THE DIFFERENCE BETWEEN THE HOSPITAL'S CUSTOMARY CHARGES AND THE SLIDING CHARITY CARE FEE SCHEDULE RATES. SINCE PAYMENT OF THIS DIFFERENCE IS NOT SOUGHT, CHARITY CARE ALLOWANCES ARE NOT REPORTED AS REVENUE. THE HOSPITAL'S ESTIMATED COSTS FOR CHARITY CARE WERE $45.0 MILLION AND $33.6 MILLION FOR 2019 AND 2018, RESPECTIVELY. THE COST OF CHARITY INCLUDES THE DIRECT AND INDIRECT COST OF PROVIDING CHARITY CARE SERVICES. THE COST IS ESTIMATED BY UTILIZING A RATIO OF COST TO GROSS CHARGES APPLIED TO THE GROSS UNCOMPENSATED CHARGES ASSOCIATED WITH PROVIDING CHARITY CARE. FUNDS RECEIVED FROM THE NEW YORK STATE INDIGENT CARE POOL TO OFFSET CHARITY SERVICES PROVIDED TOTALED APPROXIMATELY $18.2 MILLION AND $16.6 MILLION FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018, RESPECTIVELY. THE CHARITY CARE COMPONENT OF THE INDIGENT CARE POOL PAYMENTS IS ESTIMATED UTILIZING A RATIO OF CHARITY CARE CHARGES TO TOTAL CHARITY CARE AND BAD DEBT CHARGES APPLIED TO THE INDIGENT CARE POOL REIMBURSEMENT AND EXCLUDES AMOUNTS DESIGNATED FOR TEACHING PROGRAMS. ADDITIONALLY, PATIENTS WHO DO NOT QUALIFY FOR SLIDING SCALE FEES AND ALL UNINSURED INPATIENTS WHO DO NOT QUALIFY FOR MEDICAID ASSISTANCE ARE BILLED AT THE HOSPITAL'S RATES. UNCOLLECTED BALANCES FOR THESE PATIENTS ARE CATEGORIZED AS BAD DEBTS. TOTAL UNCOMPENSATED CARE AS A RESULT OF BAD DEBTS FOR ALL PATIENT SERVICES APPROXIMATED $31.1 MILLION IN 2019 AND $24.8 MILLION IN 2018. THE MOUNT SINAI HOSPITAL IS THE PRIMARY HEALTH CARE PROVIDER FOR THE EAST HARLEM AREA OF NEW YORK CITY. EAST HARLEM IS ONE OF THE POOREST COMMUNITIES IN THE NEW YORK CITY REGION, AND HAS BEEN DESIGNATED AS A MEDICALLY UNDERSERVED AREA. A WIDE VARIETY OF PROGRAMS AND SERVICES ARE CURRENTLY PROVIDED FOR THE COMMUNITY WHICH INCLUDE: -PRIMARY CARE -AIDS -CARDIOVASCULAR HEALTH -CANCER TREATMENT -MATERNAL AND INFANT HEALTH -GERIATRICS -AMBULATORY SENSITIVE CONDITIONS (ASTHMA AND DIABETES) -ADOLESCENT HEALTH -YOUTH EDUCATION -VOLUNTEER SERVICES


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Mount Sinai Hospital Board, Officers & Key Employees

Mount Sinai Hospital Vendors

Vendor Name (Service)Compensation
Crothall Healthcare Inc
Management
$43,916,123
Laboratory Corporation
Lab Services
$27,202,577
Morrison Management Specialists
Management
$8,933,666
Devitoverdi Inc
Marketing
$10,146,737
Rightsourcing Inc
Personnel
$16,031,199
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$386,128
Related organizations$0
Government grants $4,052,650
All other contributions, gifts, grants, and similar amounts not included above$36,189,736
Noncash contributions included in lines 1a–1f $757,376
Total Revenue from Contributions, Gifts, Grants & Similar$40,628,514
Total Program Service Revenue$2,896,336,543
Investment income $18,650,432
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $56,566,294
Net Income from Fundraising Events -$92,681
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $3,126,855,623

Mount Sinai Hospital Grants Awarded

Over the last fiscal year, Mount Sinai Hospital has awarded $107,882,984 in support to 7 organizations.

Grant RecipientAmount

ICHAN SCHOOL OF MEDICINE AT MOUNT SINAI

Org PageRecipient Profile

New York, NY

PURPOSE: FUND PHYSICIAN PRACTICE PROJECT

$58,457,849

MOUNT SINAI HEALTH SYSTEM

Org PageRecipient Profile

New York, NY

PURPOSE: FUND OPERATING LOSS

$25,666,745

SOUTH NASSAU COMMUNITIES HOSPITAL INC

Org PageRecipient Profile

Oceanside, NY

PURPOSE: FUND CAPITAL PROJECT

$20,000,000

INSTITUTE FOR FAMILY HEALTH

Org PageRecipient Profile

New York, NY

PURPOSE: COMMUNITY BENEFIT

$2,981,205

BETH ISRAEL MEDICAL CENTER

Org PageRecipient Profile

New York, NY

PURPOSE: FUND OPERATING LOSS

$590,356

ICHAN SCHOOL OF MEDICINE AT MOUNT SINAI

Org PageRecipient Profile

New York, NY

PURPOSE: FUND STRATEGIC PROJECTS

$123,000
View Grant Profile

Mount Sinai Hospital Grants Recieved

Over the last fiscal year, we have identified 28 grants that Mount Sinai Hospital has recieved totaling $3,898,852.

Awarding OrganizationAmount
Catherine & Henry J Gaisman Fdn

Wainscott, NY

PURPOSE: MEDICAL RESEARCH

$2,001,165
Jewish Communal Fund

New York, NY

PURPOSE: General support

$1,288,780
Fjc

New York, NY

PURPOSE: GENERAL OPERATING SUPPORT

$250,000
Petsmart Charities Inc

Phoenix, AZ

PURPOSE: ANIMAL-ASSISTED THERAPY

$123,000
American Online Giving Foundation Inc

Newark, DE

PURPOSE: GENERAL SUPPORT

$90,267
Network For Good Inc

Washington, DC

PURPOSE: Unrestricted

$26,277
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$194,414,697
Net Contributions$39,384,906
Other Expense$33,439,776
Ending Balance$200,359,827

Mount Sinai Hospital Peer Organizations

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