Miami Children's Health System Inc

EIN: 453481327 501(c)(3) Health Care

Miami, FL

Total Revenue
$324,059,026
Total Expenses
$410,738,878
Total Assets
$1,133,191,352
Net Assets
$956,961,088
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2011
Legal Domicile
FL
Phone
3056666511
Tax Period
2023-01-01 to 2023-12-31

Miami Children's Health System Inc, founded in 2011, is a major nonprofit in the Health Care sector that reported $324.1M in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $410.7M exceeded revenue, resulting in a 27% operating deficit.

Mission

Nicklaus Children's Health System is the region's only healthcare system exclusively for children. Our mission is to inspire hope and promote lifelong health by providing the best care to every child. TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF NICKLAUS CHILDREN'S HOSPITAL AND ITS AFFILIATED ENTITIES, AND TO INVEST IN, RECEIVE, HOLD, USE, AND DISPOSE OF ALL PROPERTY, REAL OR PERSONAL, AS MAY BE NECESSARY OR DESIRABLE TO CARRY INTO EFFECT THE AFOREMENTIONED PURPOSES.

Program Service Accomplishments

Program 1
Expenses: $327,506,773 Revenue: $305,555,804

A NONPROFIT CORPORATION CREATED IN 2011, formed as a holding company for Variety Children's Hospital d/b/a Nicklaus Children's Hospital and Subsidiaries (the Hospital). Additionally, the System...

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A NONPROFIT CORPORATION CREATED IN 2011, formed as a holding company for Variety Children's Hospital d/b/a Nicklaus Children's Hospital and Subsidiaries (the Hospital). Additionally, the System facilitates partnerships with private physicians and explores other revenue opportunities. The System includes a regional pediatric network anchored by the Hospital, located in Miami-Dade County, Florida. The Hospital is complemented by a network of ambulatory centers and pediatric care clinics located throughout South Florida, primarily in Miami-Dade, Broward, and Palm Beach counties. VARIETY CHILDREN'S HOSPITAL D/B/A NICKLAUS CHILDREN'S HOSPITAL PROVIDES SPECIALIZED PEDIATRIC HEALTHCARE TO CHILDREN. Nicklaus Children's Pediatric Specialists, LLC (NCPS) is a single-member Limited Liability Company formed to support the physician practices deemed necessary by the Hospital. NCPS is a subsidiary of the System. Nicklaus Children's Hospital Foundation, LLC (Foundation) is a single-member Limited Liability Company formed to raise funds and support the Hospital and other related organizations. The Foundation is a subsidiary of the System.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $18,988,921
Program Service Revenue $305,109,640
Investment Income $192,728
Other Revenue $-232,263
TOTAL REVENUE $324,059,026

Expense Breakdown

Grants Paid $11,631,467
Salaries & Benefits $256,360,292
Fundraising Expenses $275,890
Program Expenses $327,506,773
Other Expenses $142,471,229
TOTAL EXPENSES $410,738,878

Year-over-Year Comparison

2023 2022 Change
Revenue $324,059,026 $294,404,944 +0.1%
Expenses $410,738,878 $336,188,441 +0.2%
Net Income $-86,679,852 $-41,783,497 +1.1%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Governance

Voting Members
19
Independent Members
18
Employees
1491
Volunteers
269

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✓ Engaged in Lobbying
✗ Operated Donor Advised Fund
✓ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
7
$4,247,029
Total Directors
19
$1,730,719
Key Employees
1
$1,212,087
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
N/A SECRETARY / DIRECTOR 0.1
Officer Director
$0 $0 $0
N/A CHAIRMAN / DIRECTOR 0.1
Officer Director
$0 $0 $0
N/A President & CEO 20.0
Officer Director
$1,483,351 $247,368 $1,730,719
N/A Vice Chairman / Director 0.1
Officer Director
$0 $0 $0
N/A Director 0.1
Director
$0 $0 $0
N/A Director 0.1
Director
$0 $0 $0
N/A Emeritus Director 0.1
Director
$0 $0 $0
N/A Director 0.1
Director
$0 $0 $0
N/A Director 0.1
Director
$0 $0 $0
N/A Director 0.1
Director
$0 $0 $0
N/A DIRECTOR 0.1
Director
$0 $0 $0
N/A Director 0.1
Director
$0 $0 $0
N/A EMERITUS DIRECTOR 0.1
Director
$0 $0 $0
N/A Director 0.1
Director
$0 $0 $0
N/A Emeritus Director 0.1
Director
$0 $0 $0
N/A Director 0.1
Director
$0 $0 $0
N/A Director 0.1
Director
$0 $0 $0
N/A Director 0.1
Director
$0 $0 $0
N/A Director 0.1
Director
$0 $0 $0
N/A SVP / CFO Health System 20.0
Officer
$861,089 $115,190 $976,279
N/A SVP & General Counsel 20.0
Officer
$551,791 $92,549 $644,340
N/A SVP / COO NCHS & President NCH 0.1
Officer
$0 $122,072 $895,691
N/A SVP / President NCPS 40.0
Key Emp
$1,040,270 $171,817 $1,212,087
N/A Chief Cardiovascular Surgeon 40.0
Highest
$1,328,100 $10,223 $1,338,323
N/A Cardiovascular Surgeon 40.0
Highest
$2,319,401 $24,640 $2,344,041
N/A Attending Physician 40.0
Highest
$1,160,923 $25,418 $1,186,341
N/A Orthopedic Attending Physician 40.0
Highest
$1,266,216 $25,194 $1,291,410
N/A Chief Neurosurgery 40.0
Highest
$1,484,526 $11,017 $1,495,543
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $324,059,026 $410,738,878 $1,133,191,352 $-86,679,852
2022 $294,404,944 $336,188,441 $999,802,390 $-41,783,497
2021 $241,176,093 $265,361,642 $1,030,724,418 $-24,185,549
2020 $118,643,924 $118,643,924 $777,804,932 No data
2019 $122,267,186 $113,667,533 $741,992,037 $8,599,653
2018 $121,100,980 $115,678,165 $780,176,705 $5,422,815
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