AnnualReport2020

Financial Highlights Shriners Hospitals for Children

(in thousands)

Dec. 31, 2019 Dec. 31, 2018

ASSETS Cash and cash equivalents

$

42,723

40,980

Cash and cash equivalents held as collateral under securities lending transactions Patient accounts receivable, net of allowance for doubtful accounts

429,663

531,229

31,256

28,467

Other current assets

73,166

74,340

Patient transportation funds held by Shriners temples

67,474

70,477

Long-term investments

7,767,703

8,711,893

Long-term Investments

Estates in process

254,995

249,788

Land, buildings, and equipment, net of accumulated depreciation

898,303

875,945

8

9,565,283

10,583,119

$

Total assets

LIABILITIES AND NET ASSETS Liabilities: Accounts payable and accrued expenses

7

$

376,077

394,424

6

Liabilities under securities lending transactions

429,663

531,229

41,810

41,681

Other liabilities

847,550

967,334

Total liabilities

5

Net assets: Without donor restrictions (net of accumulative foreign currency adjustment of $9,351 and $9,425, in 2019 and 2018, respectively):

4

$

7,385,912

8,239,945

Charitable Gift Annuities $48,098 Misc. Investments $31,122

1,331,821

1,375,840

With donor restrictions

3

8,717,733

Total net assets

9,615,785

Marketable Securities $7,769,561

9,565,283

10,583,119

$

Total liabilities and net assets

Beneficial Interest $574,397

2

TOTAL REVENUES AND OTHER SUPPORT Investment income

RE & Minerals $288,715

$

194,164

299,968

1

Bequests

197,117

167,612

Donations

174,216

166,475

Fundraising and special events

60,726

65,439

0

Net patient service revenue

152,778

153,586

Total $8,711,893

37,165

46,365

Other

816,166

899,445

Total revenues and other support

OPERATING EXPENSES Hospitals

Investment Income

$

693,875

711,200

Research

34,877

30,429

Trust Income $22,180

Revenue cycle

16,080

15,193

Rents & Royalties $13,602

Information systems

37,112

39,095

Realized Gains on Investments $84,069

Headquarters, administrative, and board related

71,912

87,618

Other $4,297

76,915

85,901

Fundraising and special events

930,771

Total operating expenses

969,436

Decrease in net assets from operating and other activities

(114,605)

(69,991)

Total $299,968

OTHER CHANGES IN NET ASSETS Gain (Loss) on investments

(632,209)

1,010,907

Change in patient transportation funds held by Shriners temples Pension-related changes other than net periodic pension costs

640

3,003

(12,290)

(32,194)

(17,116)

(13,673)

Other, net

(660,975)

Total non-operating gains

968,043

Interest & Dividends (less fees) $175,820

(775,580)

898,052

(Decrease) in net assets

$

2019•2020 YEAR IN REVIEW | 67