Mount Sinai Medical Center Insurance Trust
Nonprofit profile at a glance
- EIN
- 591830065
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Miami Beach, FL, USA
- Phone
- 3056742121
- Rating
- 67
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Insurance Providers
Reported finances
- Revenue
- $47,019,813
- Expenses
- $46,995,922
- Assets
- $2,480,191
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
5 people listed
Executive titles in this filing
- GINO SANTORIO (PRESIDENT/CEO)
- STEVEN D SONENREICH (FORMER PRESIDENT/CEO)
Highest reported compensation
- GINO SANTORIO (PRESIDENT/CEO): $2,535,492 total reported compensation
- ALEXANDER A MENDEZ (EXECUTIVE VP/CFO): $1,748,341 total reported compensation
- ARNOLD JAFFEE (SENIOR VP/GEN COUNSEL): $812,499 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Mt. Sinai medical center insurance trust is a self-insurance trust that has been set up to cover malpractice and general liability claims filed against mt. Sinai medical center of Florida, inc.
Operating model
- Revenue model
- Earned-program. 100% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.
Rating breakdown
- Financial Efficiency: 89
- Transparency & Controls: 60
- Accountability: 32
- Sustainability: 38
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 99.9%; rating input score 100
- Program expense ratio: 100%; rating input score 100
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 0%; rating input score 0; 3rd percentile among comparable filings
- Governance controls: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 0.1%; rating input score 32; 32nd percentile among comparable filings
- Total-asset coverage ratio: 0.05; rating input score 2; 2nd percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 99; 99th percentile among comparable filings
- Officer compensation ratio: 0.6%; rating input score 89; 89th percentile among comparable filings
Growth
- Program expense growth: 10.2% per year; rating input score 100; 71st percentile among comparable filings
- Revenue growth: 9.5% per year; rating input score 100; 72nd percentile among comparable filings
- Asset growth: 4.9% per year; rating input score 100; 35th percentile among comparable filings
Details
- Where the money goes: 99.9% of revenue deployed · 100% of spending went to programs
- Governance: 0 of 3 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $47M in reported program spending
- Leadership: top reported pay $2.5M · 5 people listed · 0 of 6 pay-setting controls reported
- Highest-paid contractors: 4 contractors listed · $2.4M reported
- Consistency: 11 of 11 current checks pass
- Schedules: 5 filed schedules · includes executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: 4 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Accountability: Independent voting board scored 0/100.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- Moderate — Sustainability: Operating margin scored 32/100.
- High — Sustainability: Total-asset coverage ratio scored 2/100.