Montefiore Health System Inc

Analysis

Montefiore Health System Inc is a registered charity in United States, based in Bronx, NY. It received its IRS tax-exemption ruling in July 2005, 21 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Montefiore Health System Inc reported income of $393.4m and spending of $444.6m, spending 113% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $308.6m to $393.4m (+28%), an average of +6.3% a year. The sharpest change came in the year to December 2022, when income rose by 38%. Over the whole period it spent 111% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Montefiore Health System Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within NY. Charities of a similar size with the same main cause include Central Arkansas Radiation Therapy Institute Inc ($393.0m), Methodist Healthcare Ministries of South Texas Inc ($394.0m) and Childrens Hospital Pediatric Associates Inc ($392.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.0% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $2.3m (0.5% of expenses). Other salaries and wages came to $133.8m. At year end it held assets of $886.3m against liabilities of $250.4m, net assets of $635.9m. It reported 951 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.