Mount Sinai Medical Center Foundation Inc

Analysis

Mount Sinai Medical Center Foundation Inc is a registered charity in United States, based in Miami Beach, FL. It received its IRS tax-exemption ruling in April 1979, 47 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Mount Sinai Medical Center Foundation Inc reported income of $83.4m and spending of $28.3m, leaving 66% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $29.1m to $83.4m (+187%), an average of +30% a year. The sharpest change came in the year to December 2021, when income rose by 77%. Over the whole period it spent 34% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Mount Sinai Medical Center Foundation Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within FL. Charities of a similar size with the same main cause include Cancer Care Co-Payment Assistance Foundation Inc ($83.4m), National Council for Behavioral Health ($83.6m) and Texas Biomedical Research Institute ($83.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 90% of the total. Compensation of current officers, directors and key employees was $991k (3.5% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $492.6m against liabilities of $657k, net assets of $492.0m. It reported 10 employees.