Mount Sinai Health System Self Insurance Trust

Analysis

Mount Sinai Health System Self Insurance Trust is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in July 2019, 7 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 (type ii) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Mount Sinai Health System Self Insurance Trust reported income of $108.6m and spending of $110.5m, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $77.5m to $108.6m (+40%), an average of +8.8% a year. The sharpest change came in the year to December 2023, when income rose by 81%. Over the whole period it spent 116% 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 Health System Self Insurance Trust 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 NY. Charities of a similar size with the same main cause include American Lung Association ($108.6m), Great Plains Tribal Leaders Health Board ($108.7m) and Geneva General Hospital ($108.5m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 95% of the total. Compensation of current officers, directors and key employees was $2,502 (0.0% of expenses). At year end it held assets of $481.9m against liabilities of $485.3m, net assets of -$3.4m.

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.