New York And Presbyterian Hospital
- Assets
- $14.0b
- Revenue
- $6.7b
- Investments
- $81.0m
- Employees
- 32,025
- Location
- New York, NY
- Founding
- 12/1997
- Data as of
- 12/2019
- EIN
- 13-3957095
Organization Overview
New York And Presbyterian Hospital is located in New York, NY. The organization was established in 1997. 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, New York And Presbyterian Hospital employed 32,025 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, New York And Presbyterian Hospital generated $6.7b in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 6.9% each year. All expenses for the organization totaled $6.4b during the year ending 12/2019. While expenses have increased by 7.1% 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, New York And Presbyterian Hospital has awarded 326 individual grants totaling $110,685,249. 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
TO BE A LEADER IN THE PROVISION OF WORLD CLASS PATIENT CARE, TEACHING, RESEARCH, AND SERVICE TO LOCAL, STATE, NATIONAL, AND INTERNATIONAL COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE NEW YORK AND PRESBYTERIAN HOSPITAL PROVIDES QUALITY MEDICAL CARE REGARDLESS OF RACE, CREED, SEX, SEXUAL ORIENTATION, NATIONAL ORIGIN, HANDICAP, AGE, OR ABILITY TO PAY. ALTHOUGH REIMBURSEMENT FOR SERVICES RENDERED IS CRITICAL TO THE OPERATIONS AND STABILITY OF THE HOSPITAL, THE HOSPITAL RECOGNIZES THAT NOT ALL INDIVIDUALS POSSESS THE ABILITY TO PAY FOR ESSENTIAL MEDICAL SERVICES AND, FURTHERMORE, THE HOSPITAL'S MISSION IS TO SERVE THE COMMUNITY WITH RESPECT TO HEALTH CARE. THEREFORE, IN KEEPING WITH THE HOSPITAL'S COMMITMENT TO SERVE ALL MEMBERS OF THE COMMUNITY, THE HOSPITAL PROVIDES THE FOLLOWING: FREE AND REDUCED PRICE MEDICAL CARE (FINANCIAL ASSISTANCE/CHARITY CARE) TO THE INDIGENT; CARE TO PERSONS COVERED BY GOVERNMENTAL PROGRAMS AT BELOW-COST; SUBSIDIZED HEALTH SERVICES; AND HEALTH CARE ACTIVITIES, MEDICAL EDUCATION AND PROGRAMS TO SUPPORT THE COMMUNITY. COMMUNITY BENEFIT ACTIVITIES INCLUDE WELLNESS PROGRAMS, COMMUNITY EDUCATION PROGRAMS, HEALTH SCREENINGS, AND A BROAD VARIETY OF COMMUNITY SUPPORT SERVICES, HEALTH PROFESSIONAL EDUCATION, AND SUBSIDIZED HEALTH SERVICES. THE HOSPITAL HAD 139,008 DISCHARGES AND PROVIDED 1,082,573 OUTPATIENT VISITS (CLINIC 624,378 EMERGENCY ROOM 337,563) PLUS 120,632 AMBULATORY SURGERY PROCEDURES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven J Corwin President & Ceo/trustee | OfficerTrustee | 39.75 | $9,163,395 |
Laura L Forese Evp & COO | Officer | 34.5 | $4,972,422 |
Maxine Frank Evp, G.c. & Clo Thru 3/2019 | Officer | 45.75 | $2,405,480 |
William Lee SVP - Chief Invest Officer | Officer | 19 | $2,113,567 |
Herbert Pardes Executive Vice Chairman | Trustee | 1 | $2,095,517 |
Dov N Schwartzben SVP - Finance | Officer | 60 | $2,067,307 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Turner Construction Co Construction | 12/30/19 | $144,680,756 |
The Seiden Group Inc Advertising | 12/30/19 | $33,314,594 |
Bovis Lend Lease Construction | 12/30/19 | $20,713,997 |
Amn Healthcare Inc Nurse Staffing | 12/30/19 | $25,758,471 |
Hm Hughes Co Inc Construction | 12/30/19 | $14,105,280 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $108,522,753 |
| Government grants | $33,766,291 |
| All other contributions, gifts, grants, and similar amounts not included above | $21,808,729 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $164,097,773 |
| Total Program Service Revenue | $6,488,190,839 |
| Investment income | $18,514,375 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$12,775,783 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,714,154,880 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $79,936,342 |
| Grants and other assistance to domestic individuals. | $1,542,449 |
| Grants and other assistance to Foreign Orgs/Individuals | $326,825 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $46,841,402 |
| Compensation of current officers, directors, key employees. | $46,841,402 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,023,806,761 |
| Pension plan accruals and contributions | $75,124,944 |
| Other employee benefits | $488,368,769 |
| Payroll taxes | $194,410,685 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,106,432 |
| Fees for services: Accounting | $2,577,088 |
| Fees for services: Lobbying | $1,030,739 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $489,069 |
| Fees for services: Other | $286,450,617 |
| Advertising and promotion | $46,697,520 |
| Office expenses | $279,898,171 |
| Information technology | $104,385,449 |
| Royalties | $0 |
| Occupancy | $134,316,534 |
| Travel | $7,051,020 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,658,864 |
| Interest | $52,476,813 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $398,076,297 |
| Insurance | $64,949,266 |
| All other expenses | $333,141 |
| Total functional expenses | $6,401,756,534 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $65,189,581 |
| Savings and temporary cash investments | $237,108,228 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $855,465,743 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $97,909,526 |
| Prepaid expenses and deferred charges | $108,648,006 |
| Net Land, buildings, and equipment | $3,984,592,180 |
| Investments—publicly traded securities | $166,351,912 |
| Investments—other securities | $80,957,737 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,441,207,135 |
| Total assets | $14,037,430,048 |
| Accounts payable and accrued expenses | $1,312,673,941 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $12,692,246 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,057,263,505 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,381,454,013 |
| Total liabilities | $5,764,083,705 |
| Net assets without donor restrictions | $6,095,727,088 |
| Net assets with donor restrictions | $2,177,619,255 |
| 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 | $14,037,430,048 |
Grants Awarded
Over the last fiscal year, New York And Presbyterian Hospital has awarded $79,880,165 in support to 84 organizations.
| Grant Recipient | Amount |
|---|---|
Bronxville, NY PURPOSE: Support | $49,787,552 |
Flushing, NY PURPOSE: SUPPORT | $12,885,827 |
Yorktown Heights, NY PURPOSE: SUPPORT | $8,000,004 |
New York, NY PURPOSE: SUPPORT | $7,229,515 |
Yonkers, NY | | $305,987 |
New York, NY | | $79,000 |
Grants Recieved
Over the last fiscal year, we have identified 17 grants that New York And Presbyterian Hospital has recieved totaling $1,446,087.
| Awarding Organization | Amount |
|---|---|
Jewish Communal Fund New York, NY PURPOSE: General support | $378,790 |
Grace F Lamb Trust B Pittsburgh, PA PURPOSE: GENERAL OPERATING PURPOSES | $247,245 |
E Bamberger Est Art 5th Perp Char Trust New York, NY PURPOSE: GENERAL PURPOSE GRANT | $247,102 |
Joyce And Daniel Cowin Fdn Inc New York, NY PURPOSE: CHARITY | $200,000 |
Rothfeld Family Foundation Inc Royal Palm Beach, FL PURPOSE: UNRESTRICTED GRANT FOR DONEE'S EXEMPT PURPOSE | $100,000 |
Rothfeld Family Foundation Inc Royal Palm Beach, FL PURPOSE: UNRESTRICTED GRANT FOR DONEE'S EXEMPT PURPOSE | $100,000 |
Endowment Analysis
| Beg. Balance | $425,985 |
| Earnings | $26,370 |
| Admin Expense | $10,494 |
| Net Contributions | $2,405 |
| Ending Balance | $444,266 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lahey Clinic Hospital Inc Burlington, MA | $257,027,660 | $1,088,662,930 |
Reading Hospital Reading, PA | $1,183,713,752 | $1,035,019,113 |
St Lukes Hospital Allentown, PA | $2,817,061,751 | $982,677,854 |
Abington Memorial Hospital Philadelphia, PA | $957,526,497 | $866,047,638 |
Presbyterian Medical Center Of The University Of Pennsylvania Health Philadelphia, PA | $812,689,177 | $973,479,342 |
Saint Francis Hospital And Medical Center Hartford, CT | $1,525,942,190 | $973,165,902 |
Newyork-Presbyterian-Queens Flushing, NY | $712,392,894 | $841,266,953 |
New York-Presbyterian Brooklyn Methodist Brooklyn, NY | $1,963,582,802 | $962,946,513 |
Bronxcare Health System Bronx, NY | $743,333,524 | $835,076,495 |
St Francis Hospital United States Catholic Conference Roslyn, NY | $1,306,003,016 | $868,766,076 |
Rwj Barnabas Health Inc Livingston, NJ | $1,606,957,926 | $871,885,801 |
Valley Hospital Inc Ridgewood, NJ | $1,846,770,409 | $860,142,109 |