Mount Sinai Medical Center Inc

Mount Sinai Medical Center Inc Overview

Mount Sinai Medical Center Inc is located in New York, NY. The organization was established in 1967. According to its NTEE Classification (E12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Health Care and related organizations. 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 Medical Center Inc generated $178.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (38.3%) each year. All expenses for the organization totaled $137.5k during the year ending 12/2019. As we would expect to see with falling revenues, expenses have declined by (34.6%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2019

Describe the Organization's Mission:

Part 3 - Line 1

THE MEDICAL CENTER SUPERVISES AND COORDINATES POLICIES AND FUNDRAISING ACTIVITIES AND ADMINISTERS INVESTMENTS FOR ENTITIES OF THE MOUNT SINAI HEALTH SYSTEM, INC.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE MEDICAL CENTER IS A COMMON MEMBER OF AN INVESTMENT IN 8 EAST 102ND STREET MANAGER LLC. ALL EARNINGS RELATED TO THIS INVESTMENT ARE DISTRIBUTED TO ICAHN SCHOOL OF MEDICINE AT MOUNT SINAI TO PROVIDE STRATEGIC SUPPORT.


THE MEDICAL CENTER MAINTAINS INVESTMENTS IN A POOLED INVESTMENT PORTFOLIO FOR THE BENEFIT OF ICAHN SCHOOL OF MEDICINE AT MOUNT SINAI, THE MOUNT SINAI HOSPITAL, MOUNT SINAI AUXILIARY BOARD, ST LUKE'S-ROOSEVELT HOSPITAL CENTER, BETH ISRAEL MEDICAL CENTER, NEW YORK EYE AND EAR INFIRMARY, AS WELL AS THE MEDICAL CENTER; COLLECTIVELY, THE MOUNT SINAI HEALTH SYSTEM. THE MOUNT SINAI HEALTH SYSTEMS PERMANENTLY RESTRICTED ASSETS ARE HELD IN PERPETUITY, BUT THE INCOME DERIVED FROM THESE ASSETS CAN BE USED OR EXPENDED, IN PART OR IN ENTIRETY, FOR EITHER SPECIFIED OR UNSPECIFIED PURPOSES OF THE RESPECTIVE ENTITY, IN ACCORDANCE WITH MOUNT SINAIS POLICIES AND PROCEDURES GOVERNING THE MANAGEMENT OF INSTITUIONAL FUNDS. IN ACCORDANCE WITH THE MOUNT SINAI HEALTH SYSTEMS INVESTMENT POOL AGREEMENT, THE BOOK INCOME EARNED FROM POOLED INVESTMENTS IS CONSOLIDATED IN THE SUPPORTED ENTITIES' RESPECTIVE STATEMENTS OF ACTIVITIES. THE MEDICAL CENTERS BOOK INCOME DERIVED FROM ITS PERMANENTLY RESTRICTED ASSETS IS USED TO SUPPORT EITHER SPECIFIED (GENERALLY, THE SCHOOL) OR UNSPECIFIED PURPOSES. THE INVESTMENTS MAINTAINED BY THE MEDICAL CENTER IN THE POOLED INVESTMENT PORFOLIO MAY GENERATE UNRELATED BUSINESS TAXABLE INCOME ("UBIT"); IN THE EVENT UBTI IS ASSESSED TO THE MEDICAL CENTER, AS THE LEGALLY NAMED ON ENTITY ON THE INVESTMENT (TYPICALLY A K-1 STATEMENT), THE MEDICAL CENTER REPORTS ALL OF THE UBIT ON ITS 990T AND REMITS THE APPROPRIATE TAX LIABILITY ESTIMATES TO THE IRS AND SETTLES ANY INCOME TAX EXPENSE WITH THE IRS WHEN THE MEDICAL CENTERS 990T IS FILED FOR THE CORRESPONDING TAX YEAR. THE MEDICAL CENTER ALLOCATES THE INCOME TAX EXPENSE TO THE ENTITIES OF THE HEALTH SYSTEM BASED ON THE EARNINGS DERRIVED ON THEIR PRORATA SHARE OF THE INVESTMENT POOL IN ACCORDANCE WITH THE MOUNT SINAI HEALTH SYSTEMS INVESTMENT POOL AGREEMENT; NONE OF THE OTHER ENTITIES ARE REQUIRED TO REPORT ANY UBIT FROM THE POOLED INVESTMENTS MAINTAINED BY THE MEDICAL CENTER UNDER THE MOUNT SINAI HEALTH SYSTEMS INVESTMENT POOL AGREEMENT.


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Mount Sinai Medical Center Inc Board, Officers & Key Employees

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$123,048
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$123,048
Total Program Service Revenue$0
Investment income $0
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $178,707

Mount Sinai Medical Center Inc Grants Recieved

Over the last fiscal year, we have identified 12 grants that Mount Sinai Medical Center Inc has recieved totaling $380,439.

Awarding OrganizationAmount
Malcolm Gibbs Foundation Inc

New York, NY

PURPOSE: PSYCHIATRY DEPT.

$85,000
The Cordover Family Foundation

Paramus, NJ

PURPOSE: GENERAL PURPOSE

$70,000
American Online Giving Foundation Inc

Newark, DE

PURPOSE: GENERAL SUPPORT

$55,039
New York Crohns Foundation

New Hyde Park, NY

PURPOSE: RESEARCH FOR THE CURE OF CROHNS DISEASE

$50,000
Philip J Solondz Family Foundation

Millburn, NJ

PURPOSE: UNRESTRICTED GRANT TO SUPPORT ORGANIZATOINS CHARITABLE PURPOSE

$25,000
Philip J Solondz Family Foundation

Millburn, NJ

PURPOSE: UNRESTRICTED GRANT TO SUPPORT ORGANIZATOINS CHARITABLE PURPOSE

$25,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$14,963,205
Ending Balance$14,963,205

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