Mount Sinai Hospital Insurance Trust No 1

Analysis

Mount Sinai Hospital Insurance Trust No 1 is a registered charity in United States, based in Miami Beach, FL. It received its IRS tax-exemption ruling in September 1978, 48 years ago. Its declared purposes cover mutual and membership benefit, which this site groups under other charitable purposes. 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, Mount Sinai Hospital Insurance Trust No 1 reported income of $16.1m and spending of $16.1m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $15.2m to $16.1m (+5.5%), an average of +1.4% a year. The sharpest change came in the year to December 2021, when income rose by 68%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Mount Sinai Hospital Insurance Trust No 1 sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within FL. Charities of a similar size with the same main cause include Blind Center of Nevada Inc ($16.1m), Kents Hill School ($16.1m) and Portsmouth Community Health Center Inc ($16.1m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $2.5m against liabilities of $0, net assets of $2.5m.