Mount Sinai Community Foundation

Analysis

Mount Sinai Community Foundation is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in July 1984, 42 years ago. 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, Mount Sinai Community Foundation reported income of $101.3m and spending of $130.1m, spending 128% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $106.6m to $101.3m (-5.0%), an average of -1.3% a year. The sharpest change came in the year to June 2021, when income dropped by 43%. Over the whole period it spent 113% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Mount Sinai Community Foundation sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within IL. Charities of a similar size with the same main cause include Hospital de LA Concepcion Inc ($101.1m), Catholic Charities of the Diocese of Rochester ($101.5m) and Salem Health Hospitals and Clinics ($100.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 2.6% and program service revenue 97% of the total. Other salaries and wages came to $75.4m. At year end it held assets of $16.0m against liabilities of $73.2m, net assets of -$57.2m. It reported 513 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.