Mount Sinai Medical Center Of Florida Inc
- Assets
- $1.0b
- Revenue
- $767.9m
- Investments
- $0.0
- Employees
- 5,108
- Location
- Miami Beach, FL
- Founding
- 05/1948
- Data as of
- 12/2019
- EIN
- 59-0624424
Organization Overview
Mount Sinai Medical Center Of Florida Inc is located in Miami Beach, FL. The organization was established in 1948. 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 Medical Center Of Florida Inc employed 5,108 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 Medical Center Of Florida Inc generated $767.9m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $760.3m during the year ending 12/2019. While expenses have increased by 6.0% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2019
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HIGH QUALITY HEALTH CARE TO OUR DIVERSE COMMUNITY ENHANCED THROUGH TEACHING, RESEARCH, CHARITY CARE AND FINANCIAL RESPONSIBILITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SAFETY NET HOSPITAL OPERATIONSIN 2019, MOUNT SINAI SERVED 24,712 INPATIENT ADMISSIONS, 246,595 OUTPATIENT ADMISSIONS, 53,792 EMERGENCY CARE VISITS IN ITS PRIMARY SERVICE AREA, 18,695 IN ITS SENIOR HEALTH TARGET AREA OF AVENTURA AND 26,806 IN ITS HIALEAH FREE STANDING EMERGENCY DEPARTMENT. MOUNT SINAI PERFORMED 14,107 SURGERIES MEETING SURGICAL CARE STANDARDS AND WELCOMED 2,639 INFANTS WITH HEALTHY BIRTH WEIGHTS.
TEACHING & RESEARCHIN 2019, MOUNT SINAI RETAINED ITS OWN TEACHING FACULTY AND 12 ACCREDITED GRADUATE MEDICAL EDUCATION PROGRAMS, TEACHING 171 RESIDENTS AND FELLOWS. MOUNT SINAI PROVIDED A TEACHING CLINICAL ENVIRONMENT FOR PHYSICIANS TO BECOME BOARD CERTIFIED. ADDITIONALLY, TO MEET THE DEMANDS OF THE WORKFORCE, MOUNT SINAI TAUGHT 163 NURSING STUDENTS, 432 MEDICAL STUDENTS AND 125 ALLIED HEALTH STUDENTS FOR HEALTH CARE CAREERS. TO SUPPLEMENT THE ACADEMIC ENVIRONMENT IN 2019, MOUNT SINAI HAD 166 RESEARCH STUDIES APPROVED BY A NATIONAL REVIEW BOARD OR BY A MOUNT SINAI INSTITUTION PEER REVIEW BOARD. MOUNT SINAI HAD 102 CANCER STUDIES, 19 CARDIAC, AND 45 OTHER STUDIES.
PHYSICIAN NETWORK AND ACCESS TO CAREACCORDING TO THE 2017 UPDATE TO THE AAMC-COMMISSIONED STUDY OF PHYSICIAN SUPPLY AND DEMAND, PHYSICIAN DEMAND IS PROJECTED TO CONTINUE GROWING FASTER THAN THE SUPPLY. (THE COMPLEXITIES OF PHYSICIAN SUPPLY AND DEMAND: PROJECTIONS FROM 2015 TO 2030, IHS MARKIT, FEBRUARY 17, 2017) THE STATE OF FLORIDA AGENCY FOR HEALTHCARE, AND THE STATEWIDE MEDICAID RESIDENCY PROGRAM SUPPORTED THE TEACHING OF SPECIALTY CLINICAL PROVIDERS. MOUNT SINAI PROVIDED BOTH ACCESS TO CARE AND SUPPORT FOR THE TEACHING OF 432 MEDICAL STUDENTS AND 171 RESIDENTS AND FELLOWS. MOUNT SINAI SERVICES 13 LOCATIONS IN TWO COUNTIES BY PROVIDING NEARLY 210,000 PRIMARY OR SPECIALTY CARE VISITS. MOUNT SINAI HAS WIDENED ACCESS TO SPECIALTY CARE IN FLORIDA AND THE STATE MEDICAID PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven Sonenreich President/ceo | OfficerTrustee | 60 | $2,415,293 |
Steve Xydas Employed MD Chief, Cardiothoracic Surgery | 60 | $1,964,765 | |
Alexander Mendez Exec VP Of Operations/cfo | Officer | 60 | $1,318,231 |
Roy Williams Employed MD Chief, Thoracic Surgery | 60 | $1,039,003 | |
Michael Schwartz Employed MD Med Co-Dir, Breast Cancer Oncology | 60 | $842,163 | |
Mike Cusnir Employed MD Chief, Hematology & Oncology | 60 | $832,052 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Robins & Morton General Contractoral | 12/30/19 | $22,122,782 |
Trustee Of Columbia University Medical Programs Affiliation | 12/30/19 | $4,001,744 |
Brasfield & Gorrie Llc General Contractor | 12/30/19 | $3,887,165 |
Aramark Cts Inc Management Services For Equipment Mainte | 12/30/19 | $3,714,486 |
Epic System Corporation It Consultants, Maintenace & Programming | 12/30/19 | $2,551,222 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $6,421,964 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $18,094 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,440,058 |
| Total Program Service Revenue | $727,322,001 |
| Investment income | $3,928,182 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,660,338 |
| Net Gain/Loss on Asset Sales | -$997,414 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $767,922,503 |
| 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. | $9,598,097 |
| Compensation of current officers, directors, key employees. | $9,598,097 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $281,557,144 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $30,323,441 |
| Payroll taxes | $18,383,628 |
| Fees for services: Management | $376,746 |
| Fees for services: Legal | $819,512 |
| Fees for services: Accounting | $567,200 |
| Fees for services: Lobbying | $534,282 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,504,934 |
| Advertising and promotion | $2,908,546 |
| Office expenses | $16,682,880 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $19,807,644 |
| Travel | $1,170,196 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,632,816 |
| Interest | $12,482,584 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $43,836,395 |
| Insurance | $22,852,225 |
| All other expenses | $16,527,474 |
| Total functional expenses | $760,349,709 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $155,563,736 |
| Pledges and grants receivable | $1,607,645 |
| Accounts receivable, net | $77,738,300 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $10,258,195 |
| Prepaid expenses and deferred charges | $17,736,765 |
| Net Land, buildings, and equipment | $451,635,464 |
| Investments—publicly traded securities | $13,412,642 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $308,872,761 |
| Total assets | $1,036,825,508 |
| Accounts payable and accrued expenses | $64,168,101 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $266,673,801 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $882,596 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $149,926,446 |
| Total liabilities | $481,650,944 |
| Net assets without donor restrictions | $267,522,604 |
| Net assets with donor restrictions | $287,651,960 |
| 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 | $1,036,825,508 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Mount Sinai Medical Center Of Florida Inc has recieved totaling $594,589.
| Awarding Organization | Amount |
|---|---|
University Of Kansas Medical Center Research Institute Kansas City, KS PURPOSE: RESEARCH | $475,796 |
University Of Miami Coral Gables, FL PURPOSE: RESEARCH | $76,080 |
Mayo Clinic Group Return Rochester, MN PURPOSE: SUPPORT CHARITABLE PROGRAMS | $23,138 |
South Florida Regional Disaster Medical Assistance Team Inc Davie, FL PURPOSE: SEE ADD INFORMATION | $19,575 |
Endowment Analysis
| Beg. Balance | $94,395,000 |
| Earnings | $356,000 |
| Admin Expense | $945,000 |
| Net Contributions | $19,487,000 |
| Other Expense | $5,472,000 |
| Ending Balance | $107,821,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Piedmont Hospital Incorporated Atlanta, GA | $1,763,549,225 | $1,110,027,803 |
Shands Jacksonville Medical Center Inc Jacksonville, FL | $664,920,656 | $872,003,409 |
Lakeland Regional Medical Center Inc Lakeland, FL | $848,882,351 | $905,422,211 |
Morton Plant Hospital Association Inc Clearwater, FL | $1,199,138,244 | $852,052,211 |
Medical Center Of Central Georgia Inc Macon, GA | $1,263,100,131 | $832,091,905 |
Mount Sinai Medical Center Of Florida Inc Miami Beach, FL | $1,036,825,508 | $767,922,503 |
University Community Hospital Inc Tampa, FL | $1,125,458,239 | $761,872,885 |
Tallahassee Memorial Healthcare Inc Tallahassee, FL | $991,316,249 | $705,262,777 |
Holmes Regional Medical Center Rockledge, FL | $836,033,476 | $676,432,078 |
Baptist Hospital Inc Pensacola, FL | $424,581,073 | $637,271,785 |
Cobb Hospital Marietta, GA | $377,533,901 | $772,795,328 |
South Miami Hospital Inc Miami, FL | $328,157,202 | $674,336,307 |