University Health Network
- Assets
- $2.5b
- Revenue
- $2.4b
- Investments
- $19.2k
- Employees
- 0
- Location
- Founding
- 10/1964
- Data as of
- 03/2024
- EIN
- 98-6000971
Organization Overview
University Health Network is located in null. The organization was established in 1964. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, 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. University Health Network 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 03/2024, University Health Network generated $2.4b in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 8.6% each year. All expenses for the organization totaled $2.4b during the year ending 03/2024. While expenses have increased by 8.5% 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
UNIVERSITY HEALTH NETWORK/RESEAU UNIVERSITAIRE DE SANTE ("UHN") IS CANADA'S LARGEST HEALTHCARE RESEARCH ORGANIZATION. (CONTINUED ON SCHDULE O)
Describe the Organization's Program Activity:
Part 3 - Line 4a
UNIVERSITY HEALTH NETWORK (UHN) CONTINUES TO LEAD THE WAY, BY IMPLEMENTING OUR STRATEGIC PLAN TO CREATE A HEALTHIER WORLD AND ELEVATING OUR PURPOSE: TRANSFORMING LIVES AND COMMUNITIES THROUGH EXCELLENCE IN CARE, DISCOVERY AND LEARNING. THE OVERALL ACTIVITY IN 23/24 AT UHN INCLUDE THE FOLLOWING: -AVERAGE TOTAL BEDS STAFFED AND IN OPERATION = 1,343 -TOTAL INPATIENT DAYS = 476,573 -AMBULATORY CARE VISITS TOTAL = 1,177,238 -O.R. CASES (INPATIENT AND OUTPATIENT) = 25,016 -EMERGENCY VISITS = 124,475
UNIVERSITY HEALTH NETWORK (UHN) IS CANADA'S TOP RESEARCH HOSPITAL AND IT IS FULLY AFFILIATED WITH THE UNIVERSITY OF TORONTO AND A MEMBER OF THE TORONTO ACADEMIC HEALTH SCIENCE NETWORK. UHN COMPRISES FIVE ACADEMIC HOSPITAL SITES, AN EDUCATION INSTITUTE AND SIX RESEARCH INSTITUTES. RESEARCH IS SUPPORTED IN PART BY TWO FOUNDATIONS. THE SCOPE OF RESEARCH AND COMPLEXITY OF CASES AT UHN HAVE MADE IT A NATIONAL AND INTERNATIONAL SOURCE FOR DISCOVERY, EDUCATION AND PATIENT CARE. RESEARCH CONDUCTED AT UHN SPANS THE FULL SPECTRUM OF DISEASES AND DISCIPLINES, INCLUDING CANCER, CARDIOVASCULAR SCIENCES, TRANSPLANTATION, NEURAL AND SENSORY SCIENCES, MUSCULOSKELETAL HEALTH, REHABILITATION SCIENCES, COMMUNITY AND POPULATION HEALTH, AND MORE.
THE UHN/MOUNT SINAI HOSPITAL DEPARTMENT OF MEDICINE PRACTICE PLAN IS THE VEHICLE FOR SUPPORTING 392 ACADEMIC PHYSICIANS AT TWO OF THE UNIVERSITY OF TORONTO'S TEACHING HOSPITALS. THE PURPOSE OF THE PLAN IS TO SUPPORT CLINICAL, EDUCATIONAL AND RESEARCH ACTIVITIES OF THE GROUP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Smith President & CEO | Officer | 37.5 | $693,714 |
Brian D Hodges Executive Vice President | Officer | 35 | $374,869 |
Stephen Michael Smith Laboratory Physician | 37.5 | $366,513 | |
A Keith Stewart Vice President | 35 | $357,408 | |
Sheila O'brien Executive Vice President | Officer | 37.5 | $354,201 |
Zaid Saeed Kamil Laboratory Physician | 37.5 | $344,390 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pcl Constructors Canada Inc Construction | 3/30/24 | $22,567,704 |
Mmc Plexxus Sap & Supply Chain | 3/30/24 | $10,448,024 |
Ellisdon Corporation Construction | 3/30/24 | $13,598,424 |
Canadian Turner Construction Construction | 3/30/24 | $10,460,480 |
Diligent Construction Construction | 3/30/24 | $8,021,936 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $185,585,677 |
| Government grants | $54,267,739 |
| All other contributions, gifts, grants, and similar amounts not included above | $96,339,234 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $336,192,650 |
| Total Program Service Revenue | $2,038,519,340 |
| Investment income | $37,811,043 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,578,703 |
| 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 | $2,427,464,225 |
| 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 | $59,848,743 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $5,304,102 |
| Compensation of current officers, directors, key employees. | $5,304,102 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,190,828,653 |
| Pension plan accruals and contributions | $81,059,857 |
| Other employee benefits | $63,568,848 |
| Payroll taxes | $85,915,340 |
| Fees for services: Management | $25,681,007 |
| Fees for services: Legal | $2,771,558 |
| Fees for services: Accounting | $710,395 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $140,065,491 |
| Advertising and promotion | $192,643 |
| Office expenses | $16,103,702 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $27,432,177 |
| Travel | $12,657,070 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $843,705 |
| Interest | $8,747,683 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $107,764,514 |
| Insurance | $9,060,433 |
| All other expenses | $0 |
| Total functional expenses | $2,413,016,979 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $853,435,245 |
| Pledges and grants receivable | $42,048,770 |
| Accounts receivable, net | $224,570,502 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,178,724 |
| Inventories for sale or use | $26,337,852 |
| Prepaid expenses and deferred charges | $20,805,953 |
| Net Land, buildings, and equipment | $1,220,797,849 |
| Investments—publicly traded securities | $99,879,917 |
| Investments—other securities | $19,154 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,489,073,966 |
| Accounts payable and accrued expenses | $559,205,835 |
| Grants payable | $0 |
| Deferred revenue | $1,226,306,174 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $243,416,090 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $39,119,640 |
| Total liabilities | $2,068,047,739 |
| Net assets without donor restrictions | $421,026,227 |
| Net assets with donor restrictions | $0 |
| 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 | $2,489,073,966 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|