Montefiore Mount Vernon Hospital

Analysis

Montefiore Mount Vernon Hospital is a registered charity in United States, based in New Rochelle, NY. It received its IRS tax-exemption ruling in November 2014, 12 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a hospital or medical research organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Montefiore Mount Vernon Hospital reported income of $61.7m and spending of $93.5m, spending 152% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $95.1m to $61.7m (-35%), an average of -10% a year. The sharpest change came in the year to December 2021, when income dropped by 20%. Over the whole period it spent 110% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Montefiore Mount Vernon Hospital sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within NY. Charities of a similar size with the same main cause include Harmony Health Care Long Island ($61.7m), Cahaba Medical Care Foundation ($61.9m) and Central Valley Medical Center ($61.7m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $38.3m. At year end it held assets of $41.9m against liabilities of $94.1m, net assets of -$52.2m. It reported 542 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.