MOUNT SINAI MEDICAL CENTER OF FLORIDA INC

EIN: 590624424 501(c)(3) Health Care

MIAMI BEACH, FL

Total Revenue
$1,061,287,456
Total Expenses
$972,412,617
Total Assets
$1,123,672,620
Net Assets
$395,468,090
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Financial Trends

Organization Details

Formation Year
1946
Legal Domicile
FL
Principal Officer
GINO SANTORIO
Phone
3056742032
Tax Period
2023-01-01 to 2023-12-31

MOUNT SINAI MEDICAL CENTER OF FLORIDA INC, founded in 1946, is a large national nonprofit in the Health Care sector that reported $1.1B in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $972.4M left a modest 8% surplus.

Mission

TO PROVIDE HIGH QUALITY HEALTH CARE TO OUR DIVERSE COMMUNITY ENHANCED THROUGH TEACHING, RESEARCH, CHARITY CARE AND FINANCIAL RESPONSIBILITY.

Program Service Accomplishments

Program 1
Expenses: $621,516,195 Revenue: $856,810,063

SAFETY NET HOSPITAL OPERATIONSIN 2023, MOUNT SINAI SERVED 25,632 INPATIENT ADMISSIONS, 275,365 OUTPATIENT ADMISSIONS, 55,135 EMERGENCY CARE VISITS IN ITS PRIMARY SERVICE AREA, 19,429 IN ITS SENIOR...

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SAFETY NET HOSPITAL OPERATIONSIN 2023, MOUNT SINAI SERVED 25,632 INPATIENT ADMISSIONS, 275,365 OUTPATIENT ADMISSIONS, 55,135 EMERGENCY CARE VISITS IN ITS PRIMARY SERVICE AREA, 19,429 IN ITS SENIOR HEALTH TARGET AREA OF AVENTURA AND 35,868 IN ITS HIALEAH FREE STANDING EMERGENCY DEPARTMENT. MOUNT SINAI PERFORMED 14,802 SURGERIES MEETING SURGICAL CARE STANDARDS AND WELCOMED 2,208 INFANTS WITH HEALTHY BIRTH WEIGHTS.

Program 2
Expenses: $55,918,274 Revenue: $46,055,617

TEACHING & RESEARCHIN 2023, MOUNT SINAI RETAINED ITS OWN TEACHING FACULTY AND 15 ACCREDITED GRADUATE MEDICAL EDUCATION PROGRAMS, TEACHING 212 RESIDENTS AND FELLOWS. MOUNT SINAI PROVIDED A TEACHING...

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TEACHING & RESEARCHIN 2023, MOUNT SINAI RETAINED ITS OWN TEACHING FACULTY AND 15 ACCREDITED GRADUATE MEDICAL EDUCATION PROGRAMS, TEACHING 212 RESIDENTS AND FELLOWS. MOUNT SINAI PROVIDED A TEACHING CLINICAL ENVIRONMENT FOR PHYSICIANS TO BECOME BOARD CERTIFIED. ADDITIONALLY, TO MEET THE DEMANDS OF THE WORKFORCE, MOUNT SINAI TAUGHT 285 NURSING STUDENTS, 437 MEDICAL STUDENTS AND 156 ALLIED HEALTH STUDENTS FOR HEALTH CARE CAREERS. TO SUPPLEMENT THE ACADEMIC ENVIRONMENT IN 2023, MOUNT SINAI HAD 162 RESEARCH STUDIES APPROVED BY A NATIONAL REVIEW BOARD OR BY A MOUNT SINAI INSTITUTION PEER REVIEW BOARD. MOUNT SINAI HAD 115 CANCER STUDIES, 16 MEMORY DISORDER, 11 CARDIAC, AND 20 OTHER STUDIES.

Program 3
Expenses: $160,824,006 Revenue: $97,180,506

PHYSICIAN NETWORK AND ACCESS TO CAREACCORDING TO THE 2017 UPDATE TO THE AAMC-COMMISSIONED STUDY OF PHYSICIAN SUPPLY AND DEMAND, PHYSICIAN DEMAND IS PROJECTED TO CONTINUE GROWING FASTER THAN THE...

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PHYSICIAN NETWORK AND ACCESS TO CAREACCORDING TO THE 2017 UPDATE TO THE AAMC-COMMISSIONED STUDY OF PHYSICIAN SUPPLY AND DEMAND, PHYSICIAN DEMAND IS PROJECTED TO CONTINUE GROWING FASTER THAN THE SUPPLY. (THE COMPLEXITIES OF PHYSICIAN SUPPLY AND DEMAND: PROJECTIONS FROM 2015 TO 2030, IHS MARKET, FEBRUARY 17, 2017) THE STATE OF FLORIDA AGENCY FOR HEALTHCARE, AND THE STATEWIDE MEDICAID RESIDENCY PROGRAM SUPPORTED THE TEACHING OF SPECIALTY CLINICAL PROVIDERS. MOUNT SINAI PROVIDED BOTH ACCESS TO CARE AND SUPPORT FOR THE TEACHING OF 437 MEDICAL STUDENTS AND 212 RESIDENTS AND FELLOWS. MOUNT SINAI SERVICES 13 LOCATIONS IN TWO COUNTIES BY PROVIDING 297,037 PRIMARY OR SPECIALTY CARE VISITS. MOUNT SINAI HAS WIDENED ACCESS TO SPECIALTY CARE IN FLORIDA AND THE STATE MEDICAID PROGRAM.

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Trantor Score

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $18,824,462
Program Service Revenue $1,000,046,186
Investment Income $11,290,016
Other Revenue $31,126,792
TOTAL REVENUE $1,061,287,456

Expense Breakdown

Grants Paid $150,000
Salaries & Benefits $477,688,808
Fundraising Expenses $0
Program Expenses $838,258,475
Other Expenses $494,573,809
TOTAL EXPENSES $972,412,617

Year-over-Year Comparison

2023 2022 Change
Revenue $1,061,287,456 $968,566,028 +0.1%
Expenses $972,412,617 $932,653,422 +0.0%
Net Income $88,874,839 $35,912,606 +1.5%
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
24
Independent Members
20
Employees
4210
Volunteers
N/A

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
2
$3,400,987
Total Directors
24
$1,959,421
Key Employees
8
$5,096,637
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
STEVE XYDAS EMPLOYED MD CHIEF, CARDIOTHORACIC SURGERY 60.00
Highest
$2,477,047 $89,575 $2,566,622
GINO SANTORIO PRESIDENT/CEO 60.50
Officer Director
$1,860,277 $74,144 $1,934,421
SAMUEL GOLDSMIT EMPLOYED MD STAFF PHYSICIAN, NEUROSURGERY 60.00
Highest
$1,869,747 $59,492 $1,929,239
STEVEN HOCHWALD MD STAFF PHYSICIAN, SURGICAL ONCOLOGY 60.00
Highest
$1,542,096 $99,042 $1,641,138
ALEXANDER MENDEZ EXECUTIVE VP/CFO 60.00
Officer
$1,366,300 $100,266 $1,466,566
ROY WILLIAMS EMPLOYED MD CHIEF, THORACIC SURGERY 60.00
Highest
$1,192,793 $97,151 $1,289,944
FERNANDO SAFDIE EMPLOYED MD ASSOC. DIR., THORACIC SURGERY 60.00
Highest
$1,192,009 $69,855 $1,261,864
STEVEN SONENREICH FORMER PRESIDENT/CEO 0.00
$1,084,684 $0 $1,084,684
ANGEL PALLIN EXECUTIVE VP/COO 57.00
Key Emp
$627,165 $103,116 $730,281
ARNOLD JAFFEE SENIOR VP/GEN COUNSEL 60.00
Key Emp
$617,375 $100,336 $717,711
THOMAS GILLETTE SENIOR VP/CIO 60.00
Key Emp
$604,677 $99,234 $703,911
ROBERT GOLDSZER SENIOR VP/CMO 57.00
Key Emp
$604,768 $87,676 $692,444
WAYNE CHUTKAN SENIOR VP OF FINANCE 60.00
Key Emp
$551,137 $103,116 $654,253
WENDY STUART SENIOR VP/CNO 60.00
Key Emp
$501,741 $59,779 $561,520
BENJAMIN DAVIS SENIOR VP FACILITIES/RESOURCE MGMT 60.00
Key Emp
$507,884 $40,288 $548,172
ALON WEIZER SVP/CHIEF MEDICAL OFFICER 60.00
Key Emp
$438,387 $49,958 $488,345
ROBERT POPPITI MD PRES MED STAFF/TRUSTEE 2.00
Director
$25,000 $0 $25,000
PAUL BLOCH TRUSTEE 2.00
Director
$0 $0 $0
NORMAN BRAMAN TRUSTEE 2.00
Director
$0 $0 $0
WAYNE CHAPLIN TRUSTEE 2.00
Director
$0 $0 $0
DAPHNA CRAMER SECRETARY 2.00
Director
$0 $0 $0
EDWARD DAUER MD TRUSTEE 2.00
Director
$0 $0 $0
DAVID DEUTCH TRUSTEE 2.00
Director
$0 $0 $0
MARC FARBSTEIN TRUSTEE 2.00
Director
$0 $0 $0
DR ANTONIO FERNANDEZ TRUSTEE 2.00
Director
$0 $0 $0
EUGENE FRENKEL TRUSTEE 2.00
Director
$0 $0 $0
PHILLIP FROST MD TRUSTEE 2.00
Director
$0 $0 $0
JACK GLOTTMANN TRUSTEE 2.00
Director
$0 $0 $0
MARK HALPERN TRUSTEE 2.00
Director
$0 $0 $0
MARK HILDEBRANDT TRUSTEE 2.00
Director
$0 $0 $0
EDIE LAQUER TRUSTEE 2.00
Director
$0 $0 $0
HOWARD LORBER TRUSTEE 2.00
Director
$0 $0 $0
LAURANS MENDELSON TRUSTEE 2.00
Director
$0 $0 $0
SERGIO ROK TRUSTEE 2.00
Director
$0 $0 $0
BRENT SAUNDERS TRUSTEE 2.00
Director
$0 $0 $0
BARRY SIADAT TRUSTEE 2.00
Director
$0 $0 $0
PAUL SINGERMAN VICE CHAIR 2.00
Director
$0 $0 $0
BARRY SKOLNICK CHAIR 2.00
Director
$0 $0 $0
JAMES TATE TRUSTEE 2.00
Director
$0 $0 $0
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 $1,061,287,456 $972,412,617 $1,123,672,620 $88,874,839
2022 $968,566,028 $932,653,422 $944,774,202 $35,912,606
2021 $901,856,611 $849,941,461 $992,427,664 $51,915,150
2020 $744,578,065 $740,781,690 $825,165,487 $3,796,375
2019 $767,922,503 $760,349,709 $1,036,825,508 $7,572,794
2018 $733,083,724 $676,254,137 $1,014,629,732 $56,829,587
2018 $724,864,718 $676,254,137 $1,014,629,732 $48,610,581
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