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Nonprofiteer
← HUDSON RIVER HEALTHCARE LOCAL DEVELOPMENT CORPORATION

Form 990 for tax year 2022

Filed by HUDSON RIVER HEALTHCARE LOCAL DEVELOPMENT CORPORATION.

Totals

Total revenue
$72,451
Total expenses
$12,586,315
Contributions and grants received
$0
Grants paid
$12,539,405
Program service revenue
$0
Investment income
$0
Other revenue
$72,451
Total assets, end of year
$0
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$0
Program services expenses (Part IX)
$12,539,405
Management and general expenses
$46,910
Fundraising expenses
$0
Program service expenses (Part III)
$12,539,405

Program services were 99.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 11a · Other revenue: FORGIVENESS OF DEBT

    total $72,451 · related or exempt $72,451

  • 11e · Other revenue, total

    $72,451

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $12,539,405 · program services $12,539,405

  • 11b · Fees: legal

    total $18,375 · management and general $18,375

  • 13 · Office expenses

    total $8 · management and general $8

  • 22 · Depreciation, depletion and amortization

    total $25,321 · management and general $25,321

  • 23 · Insurance

    total $3,206 · management and general $3,206

Balance sheet

Part X, book values.

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,206

  • 10a · Land, buildings and equipment: cost or other basis

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $12,582,560

  • 25 · Other liabilities

    beginning of year $71,902 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $12,513,864 · end of year $0

Mission and programs · 2022

Mission

HUDSON RIVER HEALTHCARE LOCAL DEVELOPMENT CORPORATION WILL ACQUIRE, REHABILITATE AND CONSTRUCT AN EXPANDED FEDERALLY QUALIFIED HEALTH CENTER LOCATED AT 1037 MAIN STREET, 1031 MAIN STREET AND 55 BANK STREET, PEEKSKILL, NEW YORK 10566 (THE "PROJECT"). THE PROJECT WILL BE LEASED TO SUN RIVER HEALTH, INC. TO BE OPERATED AS A COMMUNITY HEALTH CENTER.

Activities or mission (Part I)

HUDSON RIVER HEALTHCARE LOCAL DEVELOPMENT CORPORATION ("HRLDC") WILL ACQUIRE, REHABILITATE AND CONSTRUCT AN EXPANDED FEDERALLY QUALIFIED HEALTH CENTER LOCATED AT 1037 MAIN STREET, 1031 MAIN STREET AND 55 BANK STREET, PEEKSKILL, NEW YORK 10566 (THE "PROJECT"). THE PROJECT WILL BE LEASED TO SUN RIVER HEALTH, INC. TO BE OPERATED AS A COMMUNITY HEALTH CENTER.

  • DEVELOP AND OWN FACILITIES FOR DELIVERY OF SOCIAL AND HEALTH CARE SERVICES IN THE COMMUNITY OF PEEKSKILL, NY.

    Expenses $12,539,405 · Grants $12,539,405

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Alan L Steiner

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Andrew S Richter PhD

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Luke Hilpert

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Marcia Jacobowitz-Paz

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Norma Johnson

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Norman Haight

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Rose Noonan

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Anne K Nolon

    PRESIDENT & CEO

    Total calculated
    $1,073,176
    From this org
    $0
    From related orgs
    $1,044,235
    Other
    $28,941
    Hours/week
    1 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $816,147 related
    Bonus
    $0 + $187,329 related
    Other
    $0 + $40,759 related
    Deferred
    $0 + $19,825 related
    Nontaxable benefits
    $0 + $9,116 related
    Filer's total
    $0 + $1,073,176 related

  • James Sinkoff

    DEO & CFO

    Total calculated
    $730,091
    From this org
    $0
    From related orgs
    $707,516
    Other
    $22,575
    Hours/week
    1 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $580,643 related
    Bonus
    $0 + $92,983 related
    Other
    $0 + $33,890 related
    Deferred
    $0 + $19,825 related
    Nontaxable benefits
    $0 + $2,750 related
    Filer's total
    $0 + $730,091 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

SCHEDULE J, PART II, COLUMN B(II):
THE CENTER HAS ESTABLISHED A DISCRETIONARY 162 PERFORMANCE BONUS PLAN (THE "162 BONUS PLAN") FOR CERTAIN ELIGIBLE EMPLOYEES. THE 162 BONUS PLAN IS EXEMPT FROM ERISA AND IS INTENDED TO BE EXEMPT FROM SECTION 409A OF THE CODE UNDER THE SHORT-TERM DEFERRAL EXCEPTION. THE 162 BONUS PLAN INCLUDES A BASE CONTRIBUTION OF 8% OF THE PARTICIPANT'S COMPENSATION FOR THE FIRST PLAN YEAR; BASE CONTRIBUTION FOR SUBSEQUENT PLAN YEARS SHALL BE DETERMINED BY THE BOARD OF DIRECTORS OF THE CENTER. THE CENTER MAY ALSO MAKE DISCRETIONARY CONTRIBUTIONS TO THE 162 BONUS PLAN FOR ANY PLAN YEAR. PARTICIPANTS WILL BE 100% VESTED IN CONTRIBUTIONS MADE TO THE 162 BONUS PLAN. BONUS CONTRIBUTIONS ARE GROSSED UP FOR TAX PURPOSE.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • CBHCARE IPA LLC

    BEHAVIORAL HEALTH · NY

  • BRIGHTPOINT SEARCH LLC

    RECRUITMENT COMPANY · NY

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • SOLUTIONS 4 COMMUNITY HEALTH INC

    MEDICAL BILLING · NY

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

Provenance

Return type
form_990
Tax year
2022
Filed
19 September 2023
IRS schema version
2022v5.0
Source object
202342629349300319

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