Financial Information

Giving to HSS

Hospital for Special Surgery made history in 2007, with a record $47,030,690 raised in philanthropic gifts in a single year.

“The remarkable generosity that we have seen this year – from our Board of Trustees, our physicians, and thousands of donors – indicates that people understand Special Surgery’s role in meeting the demand for the highest quality musculoskeletal care.”
                        - Louis A. Shapiro
                          President and Chief Executive Officer

We greatly appreciate your support. Your generosity has enhanced the Hospital’s efforts to advance treatment and research in the fields of orthopedics and rheumatology.

2007 Financial Statement

Financial Information(1)(2)    
Statement of Income(3)

 Year

 Ended,
(In Thousands)

2007

  2006

Hospital for Special Surgery
Total Revenue(4)
Total Expenses(5)

  $470,711
456,240

  $424,369
420,081

Operating Income from Hospital for Special Surgery

 14,471

4,288

     
Affiliated Companies    

Total Revenue
Total Expenses

46,697
46,869

44,197
44,175

Operating Income from Affiliated Companies

 (172)

 (518)

Operating Income

 14,299

 3,770

     
Statement of Financial Position

 Dec.

  31,
(In Thousands)    
     
Assets
Current Assets (Ex. Invstmnts)
Investments(6)
     Current
     Long Term
     Assets Limited as to Use
Property, Plant & Equip. – Net
Other Non-Current Assets

$ 98,972

168,923
60,924
29,699
310,236
38,010

$ 96,262

152,238
56,589
36,724
302,930
40,962

Total Assets

$706,764

$685,705

     
Liabilities and Net Assets
Current Liabilities
Long Term Debt
Other Non-Current Liabilities

$136,405
189,045
22,326

$129,777
191,715
13,936

Total Liabilities

347,776

335,428

Net Assets

358,988

350,277

Total Liabilities and Net Assets

$706,764

$685,705

     

(1) Includes activities relating to Hospital for Special Surgery and its affiliates (Hospital for Special Surgery Fund, Inc., HSS Properties Corporation, HSS Horizons, Inc., HSS Ventures, Inc., and Medical Indemnity Assurance Company, Ltd).
(2) Complete audited Financial Statements of both Hospital for Special Surgery and affiliates are available upon request from the HSS Development Department at 212.606.1196.
(3) Excludes $43.0 and $30.6 million of restricted philanthropic contributions in 2007 and 2006, respectively.
(4) Includes $1.1 million and $1.0 million of transactions between affiliates that are eliminated in consolidation in 2007 and 2006, respectively.
(5) Includes $32.7 million and $29.3 million of transactions between affiliates that are eliminated in consolidation in 2007 and 2006, respectively.
(6) Hospital for Special Surgery is the beneficiary in perpetuity of income from an outside trust. The fair value of investments in the trust are not included above and were $41.3 million and $39.5 million at December 31, 2007 and 2006, respectively.