Independence Care System Inc
- Assets
- $12.4m
- Revenue
- $13.5m
- Investments
- $0.0
- Employees
- 139
- Location
- Brooklyn, NY
- Founding
- 08/1998
- Data as of
- 12/2023
- EIN
- 13-3964284
Organization Overview
Independence Care System Inc is located in Brooklyn, NY. The organization was established in 1998. According to its NTEE Classification (E99) the organization is classified as: Health Care N.E.C., under the broad grouping of Health Care and related organizations. As of 12/2023, Independence Care System Inc employed 139 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Independence Care System Inc 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 12/2023, Independence Care System Inc generated $13.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (31.2%) each year. All expenses for the organization totaled $14.9m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (30.5%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE THE HEALTH OF, AND SERVICES FOR, DISABLED PEOPLE REQUIRING LONG TERM HOME CARE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EFFECTIVE APRIL 1, 2019, INDEPENDENCE CARE SYSTEM (ICS) IS THE FIRST AND ONLY "HEALTH HOME" PROGRAM IN NEW YORK STATE TO PROMOTE THE HEALTH AND INDEPENDENCE FOR INDIVIDUALS WITH SPINAL CORD INJURIES, MULTIPLE SCLEROSIS AND OTHER PHYSICAL DISABILITIES THAT LIMIT THEIR MOBILITY. THE NEW YORK STATE DEPARTMENT OF HEALTH (DOH) DESIGNATED ICS AS A HEALTH HOME FOR INDIVIDUALS WITH PHYSICAL DISABILITIES AND ICS ENTERED INTO A CARE MANAGEMENT AGREEMENT WITH VNS CHOICE. THESE TWO AGREEMENTS ALLOWED ICS TO CONTINUE ITS MISSION OF SUPPORTING ADULTS WITH PHYSICAL DISABILITIES AND CHRONIC CONDITIONS TO LIVE AT HOME AND PARTICIPATE FULLY IN COMMUNITY LIFE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey M Krauss Chairperson | OfficerTrustee | 1 | $0 |
Thomas K Small Treasurer | OfficerTrustee | 1 | $0 |
Gerry Dickerson Board Member | Trustee | 1 | $0 |
Chris Duff Board Member | Trustee | 1 | $0 |
Carla Boutin- Foster Board Member | Trustee | 1 | $0 |
Donna Galeno Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Supersum Solutions Inc It Consulting | 12/30/22 | $249,210 |
Master Cleaning Cleaning Services | 12/30/22 | $114,440 |
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 | $570,014 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $570,014 |
| Total Program Service Revenue | $12,622,718 |
| Investment income | $203,912 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $74,660 |
| Net Gain/Loss on Asset Sales | $8,547 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,540,682 |
| 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. | $600,081 |
| Compensation of current officers, directors, key employees. | $600,081 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,629,222 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,833,573 |
| Payroll taxes | $702,431 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $22,389 |
| Fees for services: Accounting | $65,850 |
| Fees for services: Lobbying | $1,118 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $698,879 |
| Advertising and promotion | $21,551 |
| Office expenses | $305,337 |
| Information technology | $280,691 |
| Royalties | $0 |
| Occupancy | $971,212 |
| Travel | $33,960 |
| 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 | $299,679 |
| Insurance | $203,946 |
| All other expenses | $23,244 |
| Total functional expenses | $14,875,810 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $751,979 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $3,716 |
| Accounts receivable, net | $1,180,597 |
| 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 | $255,055 |
| Net Land, buildings, and equipment | $825,562 |
| Investments—publicly traded securities | $462,128 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,903,818 |
| Total assets | $12,382,855 |
| Accounts payable and accrued expenses | $1,063,504 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,567,746 |
| Total liabilities | $6,631,250 |
| Net assets without donor restrictions | $5,296,858 |
| Net assets with donor restrictions | $454,747 |
| 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 | $12,382,855 |