Hamaspik Choice Inc
- Assets
- $66.1m
- Revenue
- $92.6m
- Investments
- $0.0
- Employees
- 293
- Location
- Monsey, NY
- Founding
- 08/2013
- Data as of
- 12/2022
- 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 12/2022, Hamaspik Choice Inc employed 293 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 12/2022, Hamaspik Choice Inc generated $92.6m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.0% each year . All expenses for the organization totaled $92.2m during the year ending 12/2022. While expenses have increased by 12.6% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
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 |
|---|---|---|---|
Herschel Weiss President | OfficerTrustee | 1 | $0 |
Abraham Hershkovitz Treasurer | OfficerTrustee | 1 | $0 |
Israel Stein Chairman | Trustee | 1 | $0 |
Jacob Cohn Secretary | OfficerTrustee | 1 | $0 |
Meyer Wertheimer Board Member | Trustee | 1 | $0 |
Yoel Bernath Executive Director | Officer | 40 | $718,639 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Community Home Health Care Medical And Health Care | 12/30/22 | $18,158,966 |
Hamaspik Care Inc Medical And Health Care | 12/30/22 | $6,298,382 |
Unlimited Care Inc Medical And Health Care | 12/30/22 | $4,296,460 |
Priority Home Care Medical And Health Care | 12/30/22 | $3,460,195 |
Preferred Home Care Medical And Health Care | 12/30/22 | $4,246,760 |
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 | $91,318,659 |
| Investment income | $290,929 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,017,232 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $92,626,820 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $419,100 |
| 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. | $2,185,797 |
| Compensation of current officers, directors, key employees. | $1,230,699 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,044,841 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,838,252 |
| Payroll taxes | $914,826 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $289,121 |
| Fees for services: Accounting | $67,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $72,415,365 |
| Advertising and promotion | $64,053 |
| Office expenses | $944,851 |
| Information technology | $1,175,120 |
| Royalties | $0 |
| Occupancy | $388,625 |
| Travel | $213,478 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $217,075 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $450,404 |
| Insurance | $149,940 |
| All other expenses | $400,388 |
| Total functional expenses | $92,178,236 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,473,831 |
| Savings and temporary cash investments | $36,332,463 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $588,079 |
| 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 | $157,108 |
| Net Land, buildings, and equipment | $2,021,352 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $19,074,177 |
| Intangible assets | $0 |
| Other assets | $5,474,487 |
| Total assets | $66,121,497 |
| Accounts payable and accrued expenses | $11,712,824 |
| 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 | $42,493 |
| Other liabilities | $6,156,160 |
| Total liabilities | $17,911,477 |
| Net assets without donor restrictions | $48,210,020 |
| 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 | $66,121,497 |