Hamaspik Choice Inc
- Assets
- $66.8m
- Revenue
- $111.3m
- Investments
- $0.0
- Employees
- 249
- Location
- Monsey, NY
- Founding
- 08/2013
- Data as of
- 12/2021
- EIN
- 45-4781328
Organization Overview
Hamaspik Choice Inc is located in Monsey, NY. The organization was established in 2013. According to its NTEE Classification (E92) the organization is classified as: Home Health Care, under the broad grouping of Health Care and related organizations. As of 12/2021, Hamaspik Choice Inc employed 249 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hamaspik Choice 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 12/2021, Hamaspik Choice Inc generated $111.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.8% each year . All expenses for the organization totaled $88.2m during the year ending 12/2021. While expenses have increased by 13.9% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
HAMASPIK CHOICE IS COMMITTED TO EXCELLENCE IN PROVIDING ACCESS TO QUALITY-DRIVEN HEALTH CARE COVERAGE IN A CULTURALLY-SENSITIVE, TIMELY AND RESPONSIVE MANNER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HAMASPIK CHOICE IS A MANAGED LONG TERM CARE PLAN THAT PROVIDES ELIGIBLE MEMBERS WITH HEALTHCARE-RELATED PRODUCTS AND SERVICES, ON A PARTIALLY CAPITATED BASIS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Yoel Bernath Executive Director | Officer | 40 | $507,293 |
Hammad Rizvi Chief Medical Officer | Officer | 40 | $410,400 |
Karl Dehm VP Of Compliance & Regulat | Officer | 40 | $296,357 |
David M Friedman VP Of Operations | 40 | $226,669 | |
Chaya Back VP Of Strategy And Innovat | 40 | $216,257 | |
Blima Teitelbaum Compliance Director | 40 | $183,524 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Community Home Health Care Medical And Health Care | 12/30/21 | $16,142,529 |
Hamaspik Care Inc Medical And Health Care | 12/30/21 | $5,788,742 |
Priority Home Care Medical And Health Care | 12/30/21 | $3,440,605 |
Unlimited Care Inc Medical And Health Care | 12/30/21 | $5,141,591 |
Preferred Home Care Medical And Health Care | 12/30/21 | $4,954,673 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,910,392 |
| 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 | $3,910,392 |
| Total Program Service Revenue | $107,292,920 |
| Investment income | $62,633 |
| 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 | $111,265,945 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $360,000 |
| 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. | $1,390,844 |
| Compensation of current officers, directors, key employees. | $830,031 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,929,569 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,451,965 |
| Payroll taxes | $656,435 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $250,317 |
| Fees for services: Accounting | $45,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $72,369,361 |
| Advertising and promotion | $82,824 |
| Office expenses | $511,020 |
| Information technology | $925,544 |
| Royalties | $0 |
| Occupancy | $357,703 |
| Travel | $133,516 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $202,557 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,085,533 |
| Insurance | $109,241 |
| All other expenses | $386,854 |
| Total functional expenses | $88,248,283 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,456,101 |
| Savings and temporary cash investments | $32,622,337 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,298,133 |
| Loans from Officers, Directors, or Controlling Persons | $3,605,562 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $346,803 |
| Net Land, buildings, and equipment | $2,666,772 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $12,074,177 |
| Intangible assets | $0 |
| Other assets | $4,756,553 |
| Total assets | $66,826,438 |
| Accounts payable and accrued expenses | $11,797,604 |
| Grants payable | $0 |
| Deferred revenue | $2,000,000 |
| 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 | $5,267,396 |
| Other liabilities | $0 |
| Total liabilities | $19,065,000 |
| Net assets without donor restrictions | $47,761,438 |
| 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 | $66,826,438 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Elderserve Health Inc Bronx, NY | $276,950,489 | $957,027,070 |
Visiting Nurse Service Of New York Home Care Ii New York, NY | $66,481,927 | $266,599,993 |
Chinese-American Planning Council Home Attendant Program Inc New York, NY | $70,469,680 | $201,462,683 |
Visiting Nurse Association Of Central New York Inc Syracuse, NY | $77,454,509 | $171,449,300 |
Hartford Healthcare At Home Inc Wethersfield, CT | $115,645,089 | $133,490,508 |
Community Health Aide Services Inc Montebello, NY | $43,202,636 | $131,385,591 |
Wellspan Surgery And Rehabilitation Hospital York, PA | $85,216,385 | $93,901,214 |
Hamaspik Choice Inc Monsey, NY | $66,826,438 | $111,265,945 |
Genesee Region Home Care Association Inc Rochester, NY | $62,523,238 | $88,633,237 |
Visiting Nursing Association Of Western New York Inc Cheektowaga, NY | $57,829,171 | $111,105,902 |
Nursing Sisters Home Care Inc Farmingdale, NY | $82,721,495 | $86,717,260 |
Walnut Home Therapeutics Inc Philadelphia, PA | $66,661,852 | $70,874,075 |