The organization, which has locations in New York and New Jersey, reported a total operating revenue of $1.6 billion in the first quarter of 2022, a 10.3 percent increase from the same period last year at $1.5 billion.
Its expenses reached $1.6 billion for the first quarter of 2022, an 8.7 percent increase year over year from $1.5 billion. Its compensation and fringe benefits also rose by 7.2 percent year over year, from $824 million in the first quarter of 2021, to $882.9 million in the first quarter of 2022.
Memorial Sloan Kettering reported a decrease in net assets without donor restrictions of $246 million in the first quarter of 2022, compared to an increase in the same period last year of $157.5 million.
The organization received $73.1 million in Coronavirus Aid, Relief, and Economic Security funds, according to the report.
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