Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $561,111

• 1f · All other contributions, gifts and grants

  $2,056,000

• 2a · Program service revenue: NET PATIENT SERVICES

  total $114,967,509 · related or exempt $114,967,509

• 2f · All other program service revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $208,395 · excluded $208,395

• 6a · Gross rents

  real property $3,924,917

• 6c · Rental income or loss

  real property $3,924,917 · personal property $0

• 6d · Net rental income or loss

  total $3,924,917 · excluded $3,924,917

• 7a · Gross sales of assets other than inventory

  securities $3,112,000

• 7b · Less cost or other basis and sales expenses

  securities $0

• 7c · Gain or loss

  securities $3,112,000 · other assets $0

• 7d · Net gain or loss

  total $3,112,000 · excluded $3,112,000

• 11a · Other revenue: INSURANCE INCENTIVE PAYMENTS

  total $838,963 · related or exempt $838,963

• 11b · Other revenue: Other Physician Services

  total $869,712 · related or exempt $869,712

• 11c · Other revenue: Cafeteria

  total $143,506 · related or exempt $143,506

• 11d · All other revenue

  total $122,385 · related or exempt $86,897 · unrelated business $0 · excluded $35,488

• 11e · Other revenue, total

  $1,974,566

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $1,410,000 · program services $1,410,000

• 5 · Compensation of officers, directors and key employees

  total $2,332,409 · management and general $2,332,409

• 7 · Other salaries and wages

  total $47,366,591 · program services $41,599,157 · management and general $5,672,612 · fundraising $94,822

• 8 · Pension plan contributions

  total $4,397,192 · program services $3,861,782 · management and general $526,607 · fundraising $8,803

• 9 · Other employee benefits

  total $12,801,562 · program services $11,242,823 · management and general $1,533,112 · fundraising $25,627

• 10 · Payroll taxes

  total $3,060,247 · program services $2,687,879 · management and general $366,529 · fundraising $5,839

• 11a · Fees: management

  total $3,706,944 · program services $3,356,076 · management and general $350,868

• 11b · Fees: legal

  total $253,088 · management and general $253,088

• 11c · Fees: accounting

  total $1,241 · management and general $1,241

• 11d · Fees: lobbying

  total $70,196 · program services $70,196

• 11f · Fees: investment management

  total $9,013 · management and general $9,013

• 11g · Fees: other

  total $12,243,399 · program services $10,626,046 · management and general $1,617,353 · fundraising $0

• 12 · Advertising and promotion

  total $478,098 · program services $420,726 · management and general $57,372

• 13 · Office expenses

  total $2,379,915 · program services $2,093,202 · management and general $286,589 · fundraising $124

• 14 · Information technology

  total $2,099,187 · program services $1,843,587 · management and general $251,398 · fundraising $4,202

• 16 · Occupancy

  total $6,879,187 · program services $6,053,581 · management and general $825,488 · fundraising $118

• 17 · Travel

  total $26,554 · program services $23,323 · management and general $3,180 · fundraising $51

• 19 · Conferences, conventions and meetings

  total $37,353 · program services $32,871 · management and general $4,482

• 22 · Depreciation, depletion and amortization

  total $7,578,040 · program services $6,264,008 · management and general $1,314,032

• 23 · Insurance

  total $2,388,243 · program services $2,101,654 · management and general $286,589

• 24a · Other expenses: Supplies

  total $31,042,758 · program services $31,042,758

• 24b · Other expenses: Dietary

  total $449,057 · program services $395,170 · management and general $53,887

• 24e · All other expenses

  total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $273,290 · end of year $6,805,291

• 3 · Pledges and grants receivable

  beginning of year $149,423 · end of year $149,423

• 4 · Accounts receivable

  beginning of year $8,945,070 · end of year $10,262,772

• 5 · Loans and receivables from officers and key people

  beginning of year $0 · end of year $0

• 6 · Loans and receivables from disqualified persons

  beginning of year $0 · end of year $0

• 8 · Inventories for sale or use

  beginning of year $3,214,912 · end of year $3,394,086

• 10a · Land, buildings and equipment: cost or other basis

  $249,181,359

• 10b · Land, buildings and equipment: accumulated depreciation

  $213,544,851

• 10c · Land, buildings and equipment, net

  beginning of year $37,073,490 · end of year $35,636,508

• 11 · Investments: publicly traded securities

  beginning of year $77,837,605 · end of year $58,147,473

• 12 · Investments: other securities

  beginning of year $0

• 13 · Investments: program-related

  beginning of year $109,961

• 15 · Other assets

  beginning of year $37,746,392 · end of year $31,805,619

• 17 · Accounts payable and accrued expenses

  beginning of year $9,858,421 · end of year $12,213,842

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 25 · Other liabilities

  beginning of year $50,933,796 · end of year $47,559,821

• 27 · Net assets without donor restrictions

  beginning of year $78,523,212 · end of year $61,380,554

• 28 · Net assets with donor restrictions

  beginning of year $26,034,714 · end of year $25,046,955

The filer's explanations (Part III)

Schedule J, Part I, Line 4a Severance or change-of-control payment

ARTHUR KLEIN RECEIVED $600,000 OF SEVERANCE PAYMENTS DURING 2023. JEREMY BOAL RECEIVED $148,883 OF SEVERANCE PAYMENTS DURING 2023.

Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan

THE DEAN, DR. DENNIS CHARNEY, WAS THE SOLE PARTICPANT IN THE ORGANIZATION'S SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN ("SERP") AND WAS PAID OUT HIS ONE TIME SERP PAYMENT OF $3,000,000 IN 2023. THE BENEFITS EARNED UNDER THE SERP ARE DESIGNED TO FUND THE DEAN'S EVENTUAL RETIREMENT. THE DEAN HAS WORKED AT MOUNT SINAI FOR 20 YEARS; 17 YEARS AS DEAN.

Schedule J, Part I, Line 6a Compensation contingent on net earnings of the organization

THE MOUNT SINAI HOSPITAL, A RELATED ORGANIZATION, ANSWERED YES TO QUESTIONS 6A AND 6B IN SCHEDULE J AS THE INSTITUTION UTILIZES AN INCENTIVE BASED BONUS PROGRAM FOR CERTAIN EMPLOYEES, INCLUDING SEVERAL OF THOSE EMPLOYEES LISTED IN SCHEDULE J. NET EARNINGS IS ONE OF SEVERAL METRICS UTILIZED BY THE INSTITUTION IN THE ANNUAL BONUS CALCULATION. OTHER METRICS UTILIZED IN THE INCENTIVE COMPENSATION MODEL INCLUDE THE ORGANIZATION'S PERFORMANCE ON THE JCAHO HOSPITAL CORE MEASURES, PATIENT SATISFACTION SCORES, AND OTHER ORGANIZATIONAL GOALS SUCH AS LENGTH OF STAY INITIATIVES. INDIVIDUALS THAT HAVE RESPONSIBILITIES IN RELATED ORGANIZATIONS TO THE HOSPITAL MAY HAVE INCENTIVES BASED ON THE PERFORMANCE OF THESE ORGANIZATIONS AS WELL AS THAT OF THE HOSPITAL. ORGANIZATIONS TO THE HOSPITAL MAY HAVE INCENTIVES BASED ON THE PERFORMANCE OF THESE ORGANIZATIONS AS WELL AS THAT OF THE HOSPITAL.

Schedule J, Part I, Line 6b Compensation contingent on net earnings of a related organization

THE HOSPITAL MAY HAVE INCENTIVES BASED ON THE PERFORMANCE OF THESE ORGANIZATIONS AS WELL AS THAT OF THE HOSPITAL.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• Manhattan Management Services

  C Corporation · MGMT SERVICES · NY

  Directly controlled by SLR

• SLR Management Services

  C Corporation · MGMT SERVICES · NY

  Directly controlled by SLR

• MOUNT SINAI HC VENTURES INC

  C Corporation · HEALTH CARE · NY

  Directly controlled by BIMC HOLDCO

• MSHS VACCINE COMPANY

  C Corporation · CLINICAL LAB · NY

  Directly controlled by ISMMS

• KANTARO BIOSCIENCES LLC

  C Corporation · CLINICAL LAB · NY

  Directly controlled by ISMMS