6 of the Most Well-Funded Hospital Foundations

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6 of the Most Well-Funded Hospital Foundations

6 of the Most Well-Funded Hospital Foundations

6 of the Most Well-Funded Hospital Foundations
6 of the Most Well-Funded Hospital Foundations
6 of the Most Well-Funded Hospital Foundations6 of the Most Well-Funded Hospital Foundations

6 of the Most Well-Funded Hospital Foundations

6 of the Most Well-Funded Hospital Foundations

6 of the Most Well-Funded Hospital Foundations

6 of the Most Well-Funded Hospital Foundations

Hospital foundations or charities have helped thousands of poor and sick people attain medical care and undergo surgeries that they are not able afford. Most of the time, the money these hospital foundations spend come from the pockets of wealthy donors and philanthropists. Here are the top 6 hospital foundations that earn billions of dollars yearly:

Mayo Foundation

The Mayo Foundation is run by the Mayo Clinic, Inc. This corporation is considered the worldwide leader in health care, medical education, and medical research. Apart from managing its clinics at Florida, Minnesota and Arizona and governing its’ own medical school, the Mayo Clinic also handles the revenue of the Mayo Foundation, which had a total annual income of $5.62 billion.

The Mayo Foundation may have spent $5.13 billion of its’ yearly income, yet it still has $489 million in surplus and has more than $3 billion worth of net assets. Despite its 94% decrease in charitable commitment and 88% decrease in fundraising efficiency, the Mayo Foundation remains to be the “richest” charity and hospital foundation in the United States.

Cleveland Clinic Foundation

The Cleveland Clinic Foundation is under the Cleveland Clinic, a nonprofit, multi-specialty academic medical academic center. The Clinic, which was founded in 1921, takes pride in delivering excellent medical services. The Cleveland Clinic has 2,700 medical specialists who cater to the needs of about 4.2 million patients who come in the clinic every year.

The Cleveland Clinic Foundation has earned $3.62 billion for the year, and has spent $3.35 billion of its’ budget, $3.03 billion of which were spent on charitable activities. Despite the huge expenditure, the Cleveland Clinic Foundation still has a surplus of $274 million, and has net assets of over $1.47 billion.

New York-Presbyterian Hospital

The New York-Presbyterian Hospital  (NY-PH) has 5 locations in the state. These hospitals are the NY-PH/Weill Cornell Medical Center, NY-PH/Columbia University Medical Center, NY-PH Morgan Stanley Children’s Hospital, NY-PH The Allen Hospital, and NY-PH Westchester Division. Its centers of excellence include cancer care and pediatric care, among many others.

The New York-Presbyterian Hospital Foundation has earned $2.39 billion – $1.9 billion of which was spent on charitable services. The hospital’s improvement in fundraising efficiency has increased the foundation’s surplus to $219 million and its net assets worth to over $1.58 billion.

Mount Sinai New York Hospital Foundation

The Mount Sinai Hospital has a 1,700-plus bed capacity, and remains to be one of the top teaching hospitals in the world. It was ranked 16th out of 5000 American Hospitals, and is currently the leader in geriatric care services. Mount Sinai was founded in 1852, and currently has 2,500 physicians tending to its millions of clients.

The Mount Sinai Hospital Foundation, which is located in New York, has earned upwards of $1.75 billion, yet its expenses have exceeded to $1.84 billion. The foundation has net assets of $765 million and has increased its charitable commitment to 84%, yet it suffered from a massive loss of $89 million.

Memorial Sloan-Kettering Cancer Center

The Memorial Sloan-Kettering Cancer Center in New York commits itself in delivering quality medical care, conducting cancer research, and educating health care specialists. It is labeled as one of the best cancer hospitals in the world. Sloan-Kettering has a 470-bed capacity, and it takes pride in its 16 multi-disciplinary cancer teams, all of which are treating about 400+ types of cancers.

The Memorial Sloan-Kettering Cancer Center has cashed in a total of $1.69 billion, $1.46 billion of which were spent on charitable services, management, and fundraising activities. Its’ 94% increase in charitable commitment, 88% increase in fundraising efficiency, and decrease in donor dependency has paved the way for the foundation’s surplus money of $222 million and about $3 billion in net assets.

Cedars-Sinai Medical Center

The Cedars-Sinai Medical Center is a Los Angeles-based hospital which employs 2000 physicians and more than 10,000 workers. From its humble beginnings as a 12-bed care center in 1902, it has expanded to a topnotch medical center which features more than 1,000 beds. Now, it’s one of the most popular hospitals in California.

The Cedars-Sinai Medical Center Foundation had earned a total of $1.35 billion, thanks to the help of more than 15,000 fundraising support group members. The foundation had spent $1.29 billion within the year, with $1.07 billion spent on charitable services. Despite the decrease in the foundation’s fundraising efficiency, the Cedars-Sinai Medical Center foundation has managed to keep an excess of $59 million. The Cedars-Sinai Medical Center currently governs over $820 million in net assets.

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