Garnet Health
- Assets
- $9.0m
- Revenue
- $3.9m
- Investments
- $0.0
- Employees
- 19
- Location
- Middletown, NY
- Founding
- 11/1998
- Data as of
- 12/2022
- EIN
- 06-1488219
Organization Overview
Garnet Health is located in Middletown, NY. The organization was established in 1998. According to its NTEE Classification (E80) the organization is classified as: Health (General & Financing), under the broad grouping of Health Care and related organizations. As of 12/2023, Garnet Health employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Garnet Health is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Garnet Health generated $3.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (8.2%) each year. All expenses for the organization totaled $4.4m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (6.3%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
GARNET HEALTH (GH) IS A NEW YORK STATE, NOT-FOR-PROFIT CORPORATION HEADQUARTERED IN MIDDLETOWN, NEW YORK, APPROXIMATELY 60 MILES NORTH OF NEW YORK CITY. IT IS CURRENTLY THE ACTIVE PARENT COMPANY FOR TWO MEMBER HOSPITALS - GARNET HEALTH MEDICAL CENTER - CATSKILLS AND GARNET HEALTH MEDICAL CENTER . GARNET HEALTH IS ALSO THE ACTIVE PARENT COMPANY FOR THE GARNET HEALTH FOUNDATION AND GARNET HEALTH MEDICAL CENTER - CATSKILLS FOUNDATION. GARNET HEALTH DOCTORS PC AND GARNET HEALTH URGENT CARE PC ARE ALSO PARTICIPANTS IN THE SYSTEM. GH IS DEDICATED TO DEVELOPING SPECIALTY SERVICES, MEDICAL PROGRAMS AND NEEDED HEALTHCARE SERVICES THAT ALLOW RESIDENTS TO REMAIN CLOSE TO HOME TO RECEIVE QUALITY CARE.
Describe the Organization's Program Activity:
GARNET HEALTH (GH) IS DEDICATED TO DEVELOPING SPECIALTY SERVICES, MEDICAL PROGRAMS AND NEEDED HEALTHCARE SERVICES THAT ALLOW RESIDENTS TO REMAIN CLOSE TO HOME TO RECEIVE QUALITY CARE. PROVIDING HEALTHCARE TO NEARLY 485,000 RESIDENTS IN ORANGE, SULLIVAN, AND ULSTER COUNTIES IN NEW YORK, GH WAS DESIGNED TO IMPROVE THE QUALITY, STABILITY AND EFFICIENCY OF HEALTHCARE SERVICES IN THE MID-HUDSON AND CATSKILL REGIONS. SERVICES PROVIDED BY MORE THAN 3,600 EMPLOYED PROFESSIONALS AND OVER 510 MEDICAL STAFF MEMBERS MAKES GH ONE OF THE LARGEST HEALTHCARE PROVIDERS IN THE TRI-STATE AREA. THE SYSTEM'S THREE HOSPITAL CAMPUSES (GARNET HEALTH MEDICAL CENTER - CATSKILLS - HARRIS, GARNET HEALTH MEDICAL CENTER - CATSKILLS - CALLICOON, GARNET HEALTH MEDICAL CENTER), PLUS PHYSICAN PRACTICES, URGENT CARE, AND OUTPATIENT LOCATIONS OFFER A BROAD SPECTRUM OF CARE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Secretary | OfficerTrustee | 2 | $0 |
Name Not Listed Treasurer | OfficerTrustee | 2 | $0 |
Name Not Listed Chariman As Of Apirl 2022 | OfficerTrustee | 2 | $0 |
Name Not Listed Vice Chair | OfficerTrustee | 2 | $0 |
Name Not Listed Board Member, Chair Until April, 2022 | OfficerTrustee | 2 | $0 |
Name Not Listed Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $3,856,295 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $12,482 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,869,547 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $534,156 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,000,003 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $2,642,968 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $211,293 |
| Insurance | $0 |
| All other expenses | $1,978 |
| Total functional expenses | $4,390,398 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $307,799 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $15,431 |
| Net Land, buildings, and equipment | $2,518,218 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,112,946 |
| Total assets | $8,954,394 |
| Accounts payable and accrued expenses | $1,282,990 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,034,518 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,632,679 |
| Total liabilities | $5,950,187 |
| Net assets without donor restrictions | $3,004,207 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $8,954,394 |