Overview
What is The Mount Sinai Hospital?
The Mount Sinai Hospital, located in New York City, is a leading healthcare provider committed to delivering quality medical services to all individuals, regardless of their background or ability to pay. They prioritize providing significant amounts of uncompensated care through sliding fee schedules for uninsured and under-insured patients. The hospital's charity care policy ensures access to healthcare for those in need, carefully assessing their financial situation. The hospital's estimated charity care costs were $42.2 million and $45.5 million for 2022 and 2021, respectively. Funds from the New York State Indigent Care Pool help offset these costs. For patients who do not qualify for sliding scale fees, uncollected balances are categorized as bad debts. The Mount Sinai Hospital serves the East Harlem community, which is designated as a medically underserved area, and offers a wide range of programs and services including primary care, AIDS care, cardiovascular health, cancer treatment, maternal and infant health, geriatrics, and adolescent health, among others. Their mission is centered on clinical excellence, patient care, teaching, and scholarly inquiry into the causes, prevention, and treatment of human disease.
Official website here: www.mountsinai.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 93% (Four-Star out of Four Stars)
The Mount Sinai Hospital has achieved a commendable Four-Star rating from Charity Navigator, indicating strong accountability and financial health. This rating reflects a robust commitment to transparency, with 100% of its board members being independent and a high score for its audit and oversight practices. The hospital's fiscal responsibility is evidenced by its low liabilities to assets ratio and a significant percentage of expenses directed toward programs, reinforcing its effectiveness in utilizing funds.
Strengths include comprehensive policies on conflict of interest, whistleblowing, and document retention, all of which contribute to a high level of organizational integrity. Additionally, the hospital's financial practices show a commitment to ethical governance, making it a trustworthy institution for donors and stakeholders. Its dedication to maintaining and displaying transparency in financial statements further enhances its credibility.
However, while the overall financial health appears strong, the liabilities to assets ratio, at 54.55%, suggests some financial leverage that may warrant monitoring in the long-term. Nonetheless, the hospital's performance in key areas of accountability and finance demonstrates a well-managed organization focused on delivering value to its community and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is The Mount Sinai Hospital legitimate?
The Mount Sinai Hospital is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Mount Sinai Hospital submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $11,607,567
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,318,352,588
For more financial information, click here
Official website here: www.mountsinai.org
What is the mission statement of The Mount Sinai Hospital?
The Mount Sinai Hospital is dedicated to delivering top-notch patient care and advancing medical knowledge through education, research, and community outreach. Its central mission involves providing high-quality healthcare with a strong emphasis on compassion and scholarly inquiry. The hospital caters to all individuals, irrespective of their race, creed, sex, national origin, or ability to pay. Despite relying on reimbursement for services, the hospital recognizes the need to provide uncompensated care to those in need, offering sliding fee schedules for the underinsured and uninsured who qualify. The hospital's total uncompensated care costs due to bad debts totaled $111.7 million in 2022 and $83.6 million in 2021. The Mount Sinai Hospital serves as the primary healthcare provider for a medically underserved area, offering a wide array of programs and services, including primary care, AIDS support, cardiovascular health, cancer treatment, maternal and infant health, geriatrics, and ambulatory sensitive conditions care, among others.
Official website here: www.mountsinai.org
Who is the CEO of The Mount Sinai Hospital?
Stephen Harvey is the Chief Executive Officer of The Mount Sinai Hospital. The CEO's salary of The Mount Sinai Hospital is $2,542,406 and their total compensation is $6,896,381.
Official website here: www.mountsinai.org
What is the revenue of The Mount Sinai Hospital?
The Mount Sinai Hospital's revenue in 2022 was $3,709,594,465.
Official website here: www.mountsinai.org
Who are the executives of The Mount Sinai Hospital and what are their salaries?
The average compensation at The Mount Sinai Hospital during 2022 was $65,603. There are 20273 employees and 786 volunteers at The Mount Sinai Hospital.
Here are 61 key members and their salaries (The Mount Sinai Hospital's CEO's salary is $2,542,406 and their total compensation is $6,896,381):
- Compensation: $2,542,406
- Related: $4,264,570
- Other: $89,405
- Compensation: $1,062,112
- Related: $4,046,385
- Other: $40,857
- Compensation: $960,458
- Related: $1,611,050
- Other: $64,512
- Compensation: $836,411
- Related: $1,402,976
- Other: $50,417
- Compensation: $1,205,110
- Related: $1,015,881
- Other: $62,920
- Compensation: $760,257
- Related: $1,353,328
- Other: $77,093
- Compensation: $2,047,394
- Related: $0
- Other: $57,621
- Compensation: $697,568
- Related: $1,170,084
- Other: $87,355
- Compensation: $606,764
- Related: $1,080,097
- Other: $51,704
- Compensation: $980,061
- Related: $658,563
- Other: $41,771
- Compensation: $546,021
- Related: $971,970
- Other: $32,107
- Compensation: $803,816
- Related: $627,736
- Other: $81,070
- Compensation: $0
- Related: $1,455,900
- Other: $51,827
- Compensation: $261,843
- Related: $1,011,761
- Other: $41,879
- Compensation: $832,092
- Related: $11,815
- Other: $63,714
- Compensation: $832,331
- Related: $0
- Other: $61,967
- Compensation: $794,993
- Related: $0
- Other: $36,126
- Compensation: $241,321
- Related: $429,574
- Other: $52,869
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Official website here: www.mountsinai.org
Where can I find the form 990 for The Mount Sinai Hospital?
The Mount Sinai Hospital's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mountsinai.org
Learn more at the official website: www.mountsinai.org
Mission Statement of The Mount Sinai Hospital
The Mount Sinai Hospital, a leading medical institution, is dedicated to delivering compassionate patient care and advancing medicine through education, research, and outreach. Committed to the advancement of the art and science of medicine, the hospital prioritizes high-quality patient care and teaching in an atmosphere of scholarly inquiry and social concern.
Mount Sinai is renowned for its mission to provide essential medical services to individuals, irrespective of their race, creed, sex, national origin, disability, age, or inability to pay. The hospital understands that not all individuals possess the financial capacity to access necessary medical care and education, and as a result, it provides significant amounts of uncompensated patient care. The hospital's charity care policy ensures the provision of quality healthcare to the community, carefully considering each patient's ability to pay.
The Mount Sinai Hospital's charity care policy includes sliding fee schedules for uninsured and under-insured patients who qualify based on income tests. The hospital obtains and uses additional financial information for those who have not supplied the necessary information to determine their eligibility for charity care and financial aid. The hospital's estimated charity care costs were $42.2 million in 2022 and $45.5 million in 2021, covering the direct and indirect costs of providing charity care services. The hospital also receives funds from the New York State Indigent Care Pool to offset these costs.
Mount Sinai is a significant provider of healthcare services to the East Harlem community, which is one of the poorest in the New York City region and has been designated as a medically underserved area. The hospital offers a wide range of programs and services to meet the diverse needs of the community, including primary care, AIDS treatment, cardiovascular health, cancer treatment, maternal and infant health, geriatrics, and ambulatory sensitive conditions such as asthma and diabetes. Additionally, the hospital provides adolescent health services, youth education, and volunteer opportunities.
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Impact
October, 2024
The Mount Sinai Hospital significantly impacts the health and well-being of the diverse communities it serves, particularly in East Harlem, one of New York City's most economically disadvantaged areas. By providing compassionate patient care and advanced medical services, it ensures access to quality healthcare without discrimination based on race, creed, sex, national origin, handicap, age, or ability to pay.
A key aspect of its mission is the provision of substantial charity care, which amounted to an estimated $42.2 million in 2022. This care is vital for residents who may not have the financial means to afford necessary medical services or healthcare education. The hospital employs a sliding fee schedule to offer services to uninsured and under-insured patients, thus adapting its offerings to meet the financial capabilities of its patients.
Moreover, Mount Sinai addresses a broad spectrum of health needs, providing services ranging from primary care and maternal health to specialized programs for conditions like asthma, diabetes, cardiovascular health, and cancer treatment. Its dedication to outreach and education, particularly targeting youth and vulnerable populations, further solidifies its role as a cornerstone healthcare provider in a medically underserved community.
Overall, The Mount Sinai Hospital not only delivers essential medical services but also contributes significantly to public health, serving as a critical resource for some of New York's most disadvantaged residents while fostering a clinical environment committed to excellence and social responsibility.
This information is meant to be a general summary of The Mount Sinai Hospital. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $24,596,260
- Program Service Revenue: $3,244,127,592
- Gross Receipts: $3,709,681,487
Assets and Liabilities:
- Total Assets: $6,009,433,106
- Total Liabilities: $3,278,712,106
- Net Assets: $2,730,721,000
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
NET PATIENT SERVICE
Revenue
$3,244,127,592
Organization Details
Founding Year
1852
Phone
(212) 731-3149Principal Officer
Stephen Harvey
Main Address
ONE GUSTAVE L LEVY PLACE, NEW YORK, NY, 100296574
Website
www.mountsinai.orgNTEE Category
Code: E22 - Health
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