Health Insurance Plan Of Greater New York
- Assets
- $2.5b
- Revenue
- $5.8b
- Investments
- $724.9m
- Employees
- 2,422
- Location
- New York, NY
- Founding
- 02/2004
- Data as of
- 12/2022
- EIN
- 13-1828429
Organization Overview
Health Insurance Plan Of Greater New York is located in New York, NY. The organization was established in 2004. According to its NTEE Classification (E32) the organization is classified as: Community Clinics, under the broad grouping of Health Care and related organizations. As of 12/2022, Health Insurance Plan Of Greater New York employed 2,422 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Health Insurance Plan Of Greater New York is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2022, Health Insurance Plan Of Greater New York generated $5.8b in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $5.8b during the year ending 12/2022. While expenses have increased by 1.2% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Health Insurance Plan Of Greater New York has awarded 176 individual grants totaling $3,141,950. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
HIPGNY'S MISSION IS TO CREATE HEALTHIER FUTURES FOR ITS CUSTOMERS (CONTINUED ON SCHEDULE O)
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUBSCRIBER BENEFITS - HIPGNY IS A NOT-FOR-PROFIT CORPORATION THAT ARRANGES FOR THE PROVISION OF COMPREHENSIVE MEDICAL AND HEALTH CARE SERVICES FOR ITS SUBSCRIBERS/MEMBERS (INCLUDING HEALTH CARE SERVICES TO MEDICARE AND MEDICAID MEMBERS) WHICH IS AN EXEMPT FUNCTION. IN 2022, HIPGNY PROVIDED SERVICES (ACROSS ALL SERVICE LINES) TO APPROXIMATELY 273,000 MEMBERS.
MEDICARE - HIPGNY SERVED APPROXIMATELY 108,000 MEDICARE MEMBERS THROUGH ITS MEDICARE RISK AND COST CONTRACT PROGRAMS.
MEDICAID - HIPGNY SERVED APPROXIMATELY 236,000 MEDICAID MEMBERS. HIP HAS BEEN SERVICING THE MEDICAID POPULATION SINCE 1967 (WITH THE PASSAGE OF FEDERAL LEGISLATION AUTHORIZING THIS PROGRAM) AND HAS AN EXTENSIVE PROGRAM IN PLACE TO ENCOURAGE PREVENTIVE MEDICAL CARE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen Ignagni Chief Executive Officer | OfficerTrustee | 35 | $5,045,764 |
John Feerick Chairman | OfficerTrustee | 2 | $161,125 |
Bernard Schayes MD Director | Trustee | 2 | $142,391 |
Gregory Floyd Director | Trustee | 2 | $0 |
John H Banks III Director | Trustee | 2 | $118,375 |
Richard Berman Director | Trustee | 2 | $128,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cognizant Healthcare Services Llc Consulting | 12/30/22 | $166,781,397 |
The Sourcing Group Llc Business Solutions | 12/30/22 | $9,294,487 |
Wpp Group Usa Inc Media Services | 12/30/22 | $4,941,621 |
The Rawlings Company Llc Legal Services | 12/30/22 | $3,796,762 |
Deloitte & Touche Llp Accounting Services | 12/30/22 | $2,152,494 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $150,000 |
| Government grants | $16,913,298 |
| 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 | $17,063,298 |
| Total Program Service Revenue | $5,690,531,383 |
| Investment income | $1,563,176 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,076,113 |
| Net Gain/Loss on Asset Sales | $45,100,035 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,756,466,800 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $227,043 |
| 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. | $27,139,633 |
| Compensation of current officers, directors, key employees. | $27,139,633 |
| Compensation to disqualified persons | $329,625 |
| Other salaries and wages | $124,756,068 |
| Pension plan accruals and contributions | $18,963,472 |
| Other employee benefits | $15,057,587 |
| Payroll taxes | $11,120,583 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,982,871 |
| Fees for services: Accounting | $2,385,561 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $171,099 |
| Fees for services: Other | $219,724,931 |
| Advertising and promotion | $5,451,832 |
| Office expenses | $14,666,541 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $24,307,474 |
| Travel | $1,841,651 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $81,398 |
| Interest | $1,745,753 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,015,718 |
| Insurance | $15,554,973 |
| All other expenses | $49,330,256 |
| Total functional expenses | $5,755,127,247 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $255,271,461 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $395,619,160 |
| 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 | $16,599,190 |
| Net Land, buildings, and equipment | $181,143,016 |
| Investments—publicly traded securities | $74,087,127 |
| Investments—other securities | $724,896,507 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $864,393,212 |
| Total assets | $2,512,009,673 |
| Accounts payable and accrued expenses | $954,011,921 |
| Grants payable | $0 |
| Deferred revenue | $34,832,710 |
| 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 | $86,575,948 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $902,774,318 |
| Total liabilities | $1,978,194,897 |
| Net assets without donor restrictions | $533,814,776 |
| 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 | $2,512,009,673 |
Grants Awarded
Over the last fiscal year, Health Insurance Plan Of Greater New York has awarded $212,298 in support to 19 organizations.
| Grant Recipient | Amount |
|---|---|
ARCHCARE GALA BENEFITS OFFICE PURPOSE: GENERAL SUPPORT | $25,000 |
FAMILY SERVICE LEAGUE PURPOSE: GENERAL SUPPORT | $15,000 |
THE DOMINICAN MEDICAL DENTAL SOCIETY PURPOSE: GENERAL SUPPORT | $25,000 |
1199SEIU HOME CARE INDUSTRY EDUCATION FUND PURPOSE: GENERAL SUPPORT | $15,000 |
CITIZENS BUDGET COMMISSION INC PURPOSE: GENERAL SUPPORT | $12,000 |
CEREBRAL PALSY OF WESTCHESTER PURPOSE: GENERAL SUPPORT | $10,000 |