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Nonprofiteer
← ELDERSERVE HEALTH INC

Form 990 for tax year 2024

Filed by ELDERSERVE HEALTH INC.

Totals

Total revenue
$1,265,590,864
Total expenses
$1,262,206,822
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,261,444,388
Investment income
$4,146,476
Other revenue
$0
Total assets, end of year
$223,017,693
Total liabilities, end of year
$146,581,520
Net assets or fund balances, end of year
$76,436,173
Program services expenses (Part IX)
$1,203,741,535
Management and general expenses
$58,465,287
Fundraising expenses
$0
Program service expenses (Part III)
$1,203,741,535

Program services were 95.4% 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.

  • 2a · Program service revenue: MEDICAID CAPITATION

    total $1,234,634,440 · related or exempt $1,234,634,440

  • 2b · Program service revenue: MEDICARE

    total $26,538,680 · related or exempt $26,538,680

  • 2c · Program service revenue: SURPLUS MEMBER INCOME

    total $271,268 · related or exempt $271,268

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $4,446,137 · excluded $4,446,137

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $257,706,949

  • 7b · Less cost or other basis and sales expenses

    securities $258,006,610

  • 7c · Gain or loss

    securities -$299,661 · other assets $0

  • 7d · Net gain or loss

    total -$299,661 · excluded -$299,661

  • 8c · Net income from fundraising events

    total $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,833,942 · management and general $1,833,942

  • 7 · Other salaries and wages

    total $43,573,397 · program services $33,502,229 · management and general $10,071,168

  • 8 · Pension plan contributions

    total $2,320,426 · program services $1,760,693 · management and general $559,733

  • 9 · Other employee benefits

    total $6,883,994 · program services $5,141,012 · management and general $1,742,982

  • 10 · Payroll taxes

    total $3,366,803 · program services $2,490,894 · management and general $875,909

  • 11a · Fees: management

    total $20,749,923 · management and general $20,749,923

  • 11b · Fees: legal

    total $573,278 · management and general $573,278

  • 11c · Fees: accounting

    total $236,160 · management and general $236,160

  • 11d · Fees: lobbying

    total $32,500 · management and general $32,500

  • 11f · Fees: investment management

    total $332,856 · management and general $332,856

  • 11g · Fees: other

    total $1,166,104,016 · program services $1,160,846,707 · management and general $5,257,309 · fundraising $0

  • 12 · Advertising and promotion

    total $1,050,174 · management and general $1,050,174

  • 13 · Office expenses

    total $2,050,120 · management and general $2,050,120

  • 14 · Information technology

    total $4,455,701 · management and general $4,455,701

  • 16 · Occupancy

    total $1,365,034 · management and general $1,365,034

  • 17 · Travel

    total $308,934 · management and general $308,934

  • 20 · Interest

    total $366,000 · management and general $366,000

  • 22 · Depreciation, depletion and amortization

    total $3,415,440 · management and general $3,415,440

  • 23 · Insurance

    total $3,188,124 · management and general $3,188,124

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $30,378,730 · end of year $7,205,832

  • 2 · Savings and temporary cash investments

    beginning of year $1,477,829 · end of year $1,475,142

  • 4 · Accounts receivable

    beginning of year $78,320,719 · end of year $49,419,128

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $377,764 · end of year $438,194

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

    $14,761,953

  • 10b · Land, buildings and equipment: accumulated depreciation

    $9,532,567

  • 10c · Land, buildings and equipment, net

    beginning of year $4,522,326 · end of year $5,229,386

  • 11 · Investments: publicly traded securities

    beginning of year $94,507,395 · end of year $142,055,850

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 14 · Intangible assets

    end of year $8,861,290

  • 15 · Other assets

    beginning of year $9,294,668 · end of year $8,332,871

  • 17 · Accounts payable and accrued expenses

    beginning of year $77,838,690 · end of year $84,107,136

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $9,066,640 · end of year $7,637,008

  • 25 · Other liabilities

    beginning of year $60,463,430 · end of year $54,837,376

  • 27 · Net assets without donor restrictions

    beginning of year $71,510,671 · end of year $76,436,173

Mission and programs · 2024

Mission

See Schedule O

Activities or mission (Part I)

MANAGED LONG TERM CARE FOR FRAIL, ELDERLY, AND DISABLED INDIVIDUALS.

  • MANAGED LONG TERM CARE FOR FRAIL, ELDERLY, AND DISABLED INDIVIDUALS WITH HIGH QUALITY SERVICES TO HELP THEM MAINTAIN MAXIMUM INDEPENDENCE AND QUALITY OF LIFE.

    Expenses $1,203,741,535 · Revenue $1,261,444,388

As filed on the 2024 return.

Listed in Part VII

  • ANDREW L GAINES

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1 + 7 related

  • JEFFREY S MAUER

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 9 related

  • JOSEPH WYGODA

    SECRETARY & TREASURER

    Total calculated
    $0
    Hours/week
    1 + 7 related

  • CONSTANTINE DIMAS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 7 related

  • DAVID SABLE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • ELIOT ENGEL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • ISABEL RIVERA

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • James Shifren

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • JAMES SHIFREN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 6 related

  • Jonathan Resnick

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • LAWRENCE J BURIAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • MARTIN HOFFMAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • MICHELE R COHEN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • THOMAS S ROGERS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • TIMOTHY BAXTER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • CARL WILNER

    INTERIM CFO

    Total calculated
    $482,681
    From this org
    $0
    From related orgs
    $419,816
    Other
    $62,865
    Hours/week
    5 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $293,004 related
    Bonus
    $0 + $100,000 related
    Other
    $0 + $26,812 related
    Deferred
    $0 + $26,812 related
    Nontaxable benefits
    $0 + $36,053 related
    Filer's total
    $0 + $482,681 related

  • DANIEL REINGOLD

    PRESIDENT

    Total calculated
    $1,826,440
    From this org
    $0
    From related orgs
    $1,759,233
    Other
    $67,207
    Hours/week
    1 + 34 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,728,919 related
    Bonus
    $0
    Other
    $0 + $30,314 related
    Deferred
    $0 + $30,314 related
    Nontaxable benefits
    $0 + $36,893 related
    Filer's total
    $0 + $1,826,440 related

  • DAVID POMERANZ

    CHIEF OPERATING OFFICER

    Total calculated
    $933,009
    From this org
    $0
    From related orgs
    $898,166
    Other
    $34,843
    Hours/week
    25 + 10 related

    Schedule J breakdown matched by us

    Base
    $0 + $767,670 related
    Bonus
    $0 + $100,000 related
    Other
    $0 + $30,496 related
    Deferred
    $0 + $30,496 related
    Nontaxable benefits
    $0 + $4,347 related
    Filer's total
    $0 + $933,009 related

  • MARGOT NONES

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • SUSAN ALDRICH

    CEO/EXECUTIVE VP

    Total calculated
    $999,467
    From this org
    $960,713
    From related orgs
    $0
    Other
    $38,754
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $703,297
    Bonus
    $250,000
    Other
    $7,416
    Deferred
    $23,532
    Nontaxable benefits
    $15,222
    Filer's total
    $999,467

  • JENNY LING

    SR. VP OF REGULATORY AFFAIRS

    Total calculated
    $465,382
    From this org
    $431,616
    From related orgs
    $0
    Other
    $33,766
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $399,200
    Bonus
    $25,000
    Other
    $7,416
    Deferred
    $19,969
    Nontaxable benefits
    $13,797
    Filer's total
    $465,382

  • Julieanne J Lau

    SR. VP OF CLINICAL OPERATIONS

    Total calculated
    $369,093
    From this org
    $317,380
    From related orgs
    $0
    Other
    $51,713
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $291,720
    Bonus
    $25,000
    Other
    $660
    Deferred
    $15,904
    Nontaxable benefits
    $35,809
    Filer's total
    $369,093

  • CAMILLE SANDS

    VP OF Outreach

    Total calculated
    $330,710
    From this org
    $299,424
    From related orgs
    $0
    Other
    $31,286
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $293,311
    Bonus
    $0
    Other
    $6,113
    Deferred
    $17,091
    Nontaxable benefits
    $14,195
    Filer's total
    $330,710

  • Elizabeth Musto

    MLTC-AVP of ISNP

    Total calculated
    $324,790
    From this org
    $304,600
    From related orgs
    $0
    Other
    $20,190
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $303,377
    Bonus
    $0
    Other
    $1,223
    Deferred
    $18,203
    Nontaxable benefits
    $1,987
    Filer's total
    $324,790

  • IRINA VAINRIB

    VP OF CLINICAL OPERATIONS

    Total calculated
    $344,709
    From this org
    $293,824
    From related orgs
    $0
    Other
    $50,885
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $285,330
    Bonus
    $4,250
    Other
    $4,244
    Deferred
    $14,962
    Nontaxable benefits
    $35,923
    Filer's total
    $344,709

  • John Kehoe

    Sr. VP OF FINANCE

    Total calculated
    $440,590
    From this org
    $417,621
    From related orgs
    $0
    Other
    $22,969
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $377,473
    Bonus
    $35,000
    Other
    $5,148
    Deferred
    $19,933
    Nontaxable benefits
    $3,036
    Filer's total
    $440,590

  • MARCIA KONRAD

    SENIOR VP OF QUALITY

    Total calculated
    $296,407
    From this org
    $280,562
    From related orgs
    $0
    Other
    $15,845
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $275,000
    Bonus
    $0
    Other
    $5,562
    Deferred
    $13,960
    Nontaxable benefits
    $1,885
    Filer's total
    $296,407

  • Michelle A Lugo

    MLTC-VP Finance

    Total calculated
    $307,225
    From this org
    $284,817
    From related orgs
    $0
    Other
    $22,408
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $283,480
    Bonus
    $1,337
    Other
    $0
    Deferred
    $19,528
    Nontaxable benefits
    $2,880
    Filer's total
    $307,225

  • Peter K Davidson

    Medical Director

    Total calculated
    $469,550
    From this org
    $410,099
    From related orgs
    $0
    Other
    $59,451
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $309,987
    Bonus
    $0
    Other
    $100,112
    Deferred
    $23,402
    Nontaxable benefits
    $36,049
    Filer's total
    $469,550

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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
THE CEO AND OFFICERS AND SELECT KEY EMPLOYEES' COMPENSATION IS PAID THROUGH A RELATED MANAGEMENT SERVICE ORGANIZATION; RIVERSPRING SERVICES CORP. COMPENSATION IS ALLOCATED TO EACH RELATED ENTITY BASED ON AN APPROVED METHODOLOGY. DETERMINATION OF THE COMPENSATION IS BASED ON INDEPENDENT COMPARATIVE ANALYSIS OF COMPENSATION LEVELS FOR OTHER CEO'S AND OFFICERS IN ORGANIZATIONS OF SIMILAR SIZE IN THE LONG-TERM CARE INDUSTRY PRIMARILY IN THE NY METROPOLITAN AREA. THIS IS DONE BY AN INDEPENDENT COMPENSATION CONSULTANT AND THE INFORMATION IS THEN REVIEWED BY A COMPENSATION COMMITTEE AND APPROVED BY THE FULL BOARD OF THE RELATED ENTITIES PAYING THE COMPENSATION.
Schedule J, Part I, Line 7 Non-fixed payments
BONUSES GIVEN ARE AT THE DISCRETION OF THE COMPENSATION COMMITTEE DEPENDING ON WHETHER OR NOT METRICS ESTABLISHED EVERY YEAR ARE MET.

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

No itemized grants to organizations 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.

Provenance

Return type
form_990
Tax year
2024
Filed
12 November 2025
IRS schema version
2024v5.1
Source object
202533169349301843

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