Program areas at Mount Sinai Hospital
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 $42.2 million and $45.5 million for 2022 and 2021, 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 $26.4 million and $13.3 million for the years ended December 31, 2022 and 2021, 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 $111.7 million in 2022 and $83.6 million in 2021. 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
Grants made by Mount Sinai Hospital
Who funds Mount Sinai Hospital
Grants from foundations and other nonprofits
Grantmaker | Grantmaker tax period | Description | Amount |
---|
Jewish Communal Fund | 2023-06 | In Furtherance of Grantee's Tax-Exempt Purpose | $7,352,495 |
Thomas L. Kempner Jr Foundation | 2022-12 | To Be Used Solely To Support the Pediatric Cardiac Intensive Care Unit, A Priority Program Under the President's Strategic Initiative Fund, As Recommended By Kenneth L. Davis, MD, President and Chief Executive Officer of the Mount Sinai Health System. | $2,000,000 |
Fidelity Investments Charitable Gift Fund | 2023-06 | For Grant Recipient's Exempt Purposes | $1,464,407 |
...and 70 more grants received totalling $15,550,005 |
Personnel at Mount Sinai Hospital
Name | Title | Compensation | Date of data |
---|
Brendan Carr | Chief Executive Officer | | 2024-01-22 |
Cameron Hernandez | Executive Director and Chief Operating Officer MSHQ | $832,331 | 2022-12-31 |
Margaret Pastuszko | President and Chief Operating Officer | $960,458 | 2024-01-22 |
Michael Pastier | Senior Vice President , Chief Financial Officer | $803,816 | 2022-12-31 |
David A. Feinberg | Senior Vice President , Chief Marketing and Communications Officer | | 2024-01-22 |
...and 44 more key personnel |
Financials for Mount Sinai Hospital
Revenues | FYE 12/2022 | FYE 12/2021 | % Change |
---|
Total grants, contributions, etc. | $94,101,513 | $125,934,560 | -25.3% |
Program services | $3,244,127,592 | $3,084,638,403 | 5.2% |
Investment income and dividends | $8,774,260 | $24,450,266 | -64.1% |
Tax-exempt bond proceeds | $0 | $0 | - |
Royalty revenue | $0 | $0 | - |
Net rental income | $0 | $0 | - |
Net gain from sale of non-inventory assets | $15,822,000 | $64,693,000 | -75.5% |
Net income from fundraising events | $-45,172 | $-14,020 | -222.2% |
Net income from gaming activities | $0 | $0 | - |
Net income from sales of inventory | $0 | $0 | - |
Miscellaneous revenues | $346,814,272 | $262,171,057 | 32.3% |
Total revenues | $3,709,594,465 | $3,561,873,266 | 4.1% |
Organizations like Mount Sinai Hospital
Organization | Type | Location | Revenue |
---|
MaineHealth (MMC) | 501(c)(3) | Portland, ME | $3,690,471,384 |
Hartford Hospital | 501(c)(3) | Hartford, CT | $2,582,241,968 |
Ochsner Medical Center | 501(c)(3) | New Orleans, LA | $5,075,999,430 |
Boston Medical Center Corporation (BMC) | 501(c)(3) | Boston, MA | $2,380,282,356 |
Maimonides Medical Center | 501(c)(3) | Brooklyn, NY | $1,451,215,166 |
Beth Israel Deaconess Medical Center (BIDMC) | 501(c)(3) | Boston, MA | $2,688,941,672 |
Atrium Health Wake Forest Baptist Me | 501(c)(3) | Winstonsalem, NC | $2,499,734,301 |
Sharp Memorial Hospital | 501(c)(3) | San Diego, CA | $1,539,570,652 |
St. Lukes Hospital of Kansas City | 501(c)(3) | Kansas City, MO | $1,021,262,170 |
Tampa General Hospital (TGH) | 501(c)(3) | Tampa, FL | $2,356,345,813 |
Data update history
May 18, 2024
Received grants
Identified 26 new grant, including a grant for $7,352,495 from Jewish Communal Fund January 22, 2024
Updated personnel
Identified 4 new personnel
January 20, 2024
Posted financials
Added Form 990 for fiscal year 2022
January 20, 2024
Updated personnel
Identified 1 new personnel
Nonprofit Types
Grantmaking organizationsHospitalsHealth organizationsHeadquarter / parent organizations
Issues
Health
Characteristics
LobbyingFundraising eventsOperates internationallyState / local levelReceives government fundingEndowed supportCommunity engagement / volunteeringTax deductible donationsAccepts online donations
General information
- Address
- 1 Gustave L Levy Pl
- New York, NY 10029
- Metro area
- New York-Newark-Jersey City, NY-NJ-PA
- County
- New York County, NY
- Website URL
- mountsinai.org/locations/mount-sinai?utm_source=yext&utm_medium=local_listing&utm_campaign=mountsinaiÂ
- Phone
- (212) 241-6500
- Facebook page
- mountsinainycÂ
- Twitter profile
- @mountsinainycÂ
IRS details
- EIN
- 13-1624096
- Fiscal year end
- December
- Taxreturn type
- Form 990
- Year formed
- 1852
- Eligible to receive tax-deductible contributions (Pub 78)
- Yes
Categorization
- NTEE code, primary
- E22: Hospital, General
- NAICS code, primary
- 622: Hospitals
- Parent/child status
- Central organization
California AB-488 details
- AB 488 status
- May Operate or Solicit for Charitable Purposes
- Charity Registration status
- Exempt
- FTB status revoked
- Not revoked
- AG Registration Number
- CT0209242
- FTB Entity ID
- None yet
- AB 488 data last updated ("as-of") date
- 2024-10-16
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