Mt Sinai Health Care Foundation

Analysis

Mt Sinai Health Care Foundation is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in November 1994, 32 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 June 2023, Mt Sinai Health Care Foundation reported income of $2.7m and spending of $9.7m, spending 367% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $5.4m to $2.7m (-50%), an average of -16% a year. The sharpest change came in the year to June 2021, when income rose by 737%. Over the whole period it spent 88% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Mt Sinai Health Care Foundation sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within OH. Charities of a similar size with the same main cause include Shippensburg Area Emergency Medical Services Inc ($2.7m), Olympic Community of Health ($2.7m) and Erie Family Health Foundation Inc ($2.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 60% of the total. Compensation of current officers, directors and key employees was $565k (5.8% of expenses). Other salaries and wages came to $427k. At year end it held assets of $173.6m against liabilities of $14.5m, net assets of $159.1m. It reported 8 employees.