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← MOUNT SINAI HEALTH SYSTEM SELF INSURANCE TRUST

Form 990 for tax year 2023

Filed by MOUNT SINAI HEALTH SYSTEM SELF INSURANCE TRUST.

Totals

Total revenue
$108,638,173
Total expenses
$110,450,022
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$103,452,620
Investment income
$5,185,553
Other revenue
$0
Total assets, end of year
$481,911,261
Total liabilities, end of year
$485,294,783
Net assets or fund balances, end of year
-$3,383,522
Program services expenses (Part IX)
$110,450,022
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$110,450,022

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: PREMIUM EARNED AND PREMIUM ADJUSTMENT

    total $103,452,620 · related or exempt $103,452,620

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $5,185,553 · excluded $5,185,553

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $2,502 · program services $2,502

  • 11g · Fees: other

    total $31,698 · program services $31,698 · management and general $0 · fundraising $0

  • 24a · Other expenses: LOSS & LAE ADJUSTMENT

    total $110,415,822 · program services $110,415,822

  • 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 $18,531,349 · end of year $4,144,685

  • 4 · Accounts receivable

    beginning of year $63,785,147 · end of year $67,434,798

  • 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

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $300,438,634 · end of year $410,331,778

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $444,381,722 · end of year $485,294,783

  • 27 · Net assets without donor restrictions

    beginning of year -$61,626,592 · end of year -$3,383,522

Mission and programs · 2023

Mission

MOUNT SINAI HEALTH SYSTEM SELF INSURANCE TRUST IS A SELF INSURANCE PROGRAM FOR THE PURPOSE OF SETTLING HEALTH CARE PATIENT CLAIMS ARISING FROM MEDICAL MALPRACTICE LIABILITY AND HOSPITAL PROFESSIONAL LIABILITY CLAIMS AGAINST THE MEMBERS OF THE MOUNT SINAI HEALTH SYSTEM THEIR EMPLOYEES AND AGENTS.

Activities or mission (Part I)

A SELF INSURANCE PROGRAM FOR THE PURPOSE OF SETTLING HEALTH CARE PATIENT CLAIMS

  • PAYMENTS FROM THE TRUST FOR SETTLING HEALTH CARE CLAIMS ASSERTING PROFESSIONAL NEGLIGENCE; INCLUDING EXCESS INSURANCE PREMIUMS FOR CLAIMS EXCEEDING THE SELF INSURANCE RETENTION AND OTHER MISCELLANEOUS EXPENSES RELATED TO THE PROGRAM FOR ACTUARIAL EXPENSES.

    Expenses $110,450,022 · Revenue $103,452,620

As filed on the 2023 return.

Listed in Part VII

  • Comerica Bank & Trust Nationa

    INSTITUTIONAL TRUSTEE

    Total calculated
    $2,502
    From this org
    $2,502
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.3

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

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

    C Corporation · HEALTH CARE MGMT · NY

    Directly controlled by BIMC HOLDCO

  • MSHS Vaccine Company

    C Corporation · Clinical Lab · DE

    Directly controlled by ISMMS

  • Kantaro Biosciences LLC

    C Corporation · clinical lab · NY

    Directly controlled by ISMMS

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202443199349306254

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