Spectrum Health Care Inc
- Assets
- $4.8m
- Revenue
- $7.4m
- Investments
- $0.0
- Employees
- 77
- Location
- Jersey City, NJ
- Founding
- 08/1984
- Data as of
- 06/2024
- EIN
- 22-2512383
Organization Overview
Spectrum Health Care Inc is located in Jersey City, NJ. The organization was established in 1984. According to its NTEE Classification (E70) the organization is classified as: Public Health, under the broad grouping of Health Care and related organizations. As of 06/2024, Spectrum Health Care Inc employed 77 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Spectrum Health Care 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 06/2024, Spectrum Health Care Inc generated $7.4m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 18.3% each year . All expenses for the organization totaled $6.0m during the year ending 06/2024. While expenses have increased by 9.9% per year over the past 5 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE COMPREHENSIVE OPIOID THERAPY AND AIDS TESTING TO THOSE SEEKING TREATMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE COMPREHENSIVE OPIOID THERAPY TO THOSE SEEKING TREATMENT IN, AND AROUND, HUDSON COUNTY WITHOUT SEPERATION FROM FAMILY, COMMUNITY AND EMPLOYEES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michele Jeffrey Trustee | Trustee | 0 | $0 |
Edward P Cox CEO | Trustee | 40 | $309,019 |
Gary Defilippo Trustee | Trustee | 0 | $0 |
Thomas Murphy Trustee | Officer | 0 | $0 |
Thomas Cappadona Secretary/treas./trustee | Officer | 0 | $0 |
Sunil Anand CFO | Officer | 40 | $200,810 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dr Chandrakant A Patel Medical Services | 6/29/24 | $216,000 |
Stephen J Manocchio Medical Services | 6/29/24 | $130,200 |
Jasvendar Singh Nandra Medical Services | 6/29/24 | $132,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,792,862 |
| 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 | $1,792,862 |
| Total Program Service Revenue | $5,531,400 |
| Investment income | $117,236 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $7,441,498 |
| 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 | $3,771,707 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $617,635 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $1,324,336 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $223,395 |
| 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 | $53,301 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $5,990,374 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,942,723 |
| Pledges and grants receivable | $316,379 |
| 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 | $0 |
| Net Land, buildings, and equipment | $371,127 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $171,944 |
| Total assets | $4,802,173 |
| Accounts payable and accrued expenses | $26,959 |
| 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 | $0 |
| Total liabilities | $26,959 |
| Net assets without donor restrictions | $4,775,214 |
| 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 | $4,802,173 |