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Nonprofiteer
← HAMASPIK CHOICE INC

Form 990 for tax year 2023

Filed by HAMASPIK CHOICE INC.

Totals

Total revenue
$212,315,320
Total expenses
$238,345,787
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$200,459,953
Investment income
$1,580,183
Other revenue
$10,275,184
Total assets, end of year
$98,799,870
Total liabilities, end of year
$76,620,317
Net assets or fund balances, end of year
$22,179,553
Program services expenses (Part IX)
$224,464,690
Management and general expenses
$13,881,097
Fundraising expenses
$0
Program service expenses (Part III)
$224,464,690

Program services were 94.2% 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 REVENUE

    total $199,940,384 · related or exempt $199,940,384

  • 2b · Program service revenue: PATIENT SURPLUS

    total $519,569 · related or exempt $519,569

  • 3 · Investment income

    total $1,551,758 · excluded $1,551,758

  • 7a · Gross sales of assets other than inventory

    securities $78,910

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

    securities $50,485

  • 7c · Gain or loss

    securities $28,425

  • 7d · Net gain or loss

    total $28,425 · excluded $28,425

  • 11a · Other revenue: REIMBURSED EXPENSES

    total $10,275,184 · related or exempt $10,275,184

  • 11e · Other revenue, total

    $10,275,184

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $5,491,114 · program services $1,959,057 · management and general $3,532,057

  • 7 · Other salaries and wages

    total $20,819,194 · program services $16,371,631 · management and general $4,447,563

  • 9 · Other employee benefits

    total $1,811,534 · program services $1,223,498 · management and general $588,036

  • 10 · Payroll taxes

    total $2,117,863 · program services $1,590,221 · management and general $527,642

  • 11b · Fees: legal

    total $324,684 · management and general $324,684

  • 11c · Fees: accounting

    total $62,500 · management and general $62,500

  • 11g · Fees: other

    total $203,722,845 · program services $201,818,596 · management and general $1,904,249

  • 12 · Advertising and promotion

    total $58,944 · management and general $58,944

  • 13 · Office expenses

    total $973,719 · program services $735,622 · management and general $238,097

  • 14 · Information technology

    total $1,196,995 · management and general $1,196,995

  • 16 · Occupancy

    total $429,776 · management and general $429,776

  • 17 · Travel

    total $354,181 · program services $348,220 · management and general $5,961

  • 20 · Interest

    total $398,159 · management and general $398,159

  • 22 · Depreciation, depletion and amortization

    total $257,260 · program services $257,260

  • 23 · Insurance

    total $160,585 · program services $160,585

  • 24a · Other expenses: ASSOCIATION FEES

    total $166,434 · management and general $166,434

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,473,831 · end of year $36,624,128

  • 2 · Savings and temporary cash investments

    beginning of year $36,332,463 · end of year $92,983

  • 4 · Accounts receivable

    beginning of year $588,079 · end of year $2,831,785

  • 9 · Prepaid expenses and deferred charges

    beginning of year $157,108 · end of year $144,078

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

    $6,010,239

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

    $3,581,077

  • 10c · Land, buildings and equipment, net

    beginning of year $2,021,352 · end of year $2,429,162

  • 13 · Investments: program-related

    beginning of year $19,074,177 · end of year $40,021,677

  • 15 · Other assets

    beginning of year $5,474,487 · end of year $16,656,057

  • 17 · Accounts payable and accrued expenses

    beginning of year $11,712,824 · end of year $37,214,284

  • 24 · Unsecured notes and loans payable

    beginning of year $42,493

  • 25 · Other liabilities

    beginning of year $6,156,160 · end of year $39,406,033

  • 27 · Net assets without donor restrictions

    beginning of year $48,210,020 · end of year $22,179,553

Mission and programs · 2023

Mission

HAMASPIK CHOICE IS COMMITTED TO EXCELLENCE IN PROVIDING ACCESS TO QUALITY-DRIVEN HEALTH CARE COVERAGE IN A CULTURALLY-SENSITIVE, TIMELY AND RESPONSIVE MANNER.

  • HAMASPIK CHOICE IS A MANAGED LONG TERM CARE PLAN THAT PROVIDES ELIGIBLE MEMBERS WITH HEALTHCARE-RELATED PRODUCTS AND SERVICES, ON A PARTIALLY CAPITATED BASIS.

    Expenses $224,464,690 · Revenue $210,735,137

As filed on the 2023 return.

Listed in Part VII

  • Herschel Weiss

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Jacob Cohn

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Abraham Hershkovitz

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Israel Stein

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Meyer Wertheimer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Yoel Bernath

    EXECUTIVE DIRECTOR

    Total calculated
    $1,823,585
    From this org
    $1,815,146
    From related orgs
    $0
    Other
    $8,439
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,815,146
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $8,439
    Filer's total
    $1,823,585

  • David M Friedman

    CHIEF OPERATING OFFICER

    Total calculated
    $422,448
    From this org
    $387,940
    From related orgs
    $0
    Other
    $34,508
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $387,940
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $34,508
    Filer's total
    $422,448

  • Joel Brach

    CHIEF FINANCIAL OFFICER

    Total calculated
    $156,268
    From this org
    $156,268
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $156,268
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $156,268

  • Hammad Rizvi

    CHIEF MEDICAL OFFICER

    Total calculated
    $364,296
    From this org
    $364,296
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $364,296
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $364,296

  • Karl Dehm

    VP OF COMPLIANCE & REGULATORY

    Total calculated
    $378,540
    From this org
    $356,292
    From related orgs
    $0
    Other
    $22,248
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $356,292
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $22,248
    Filer's total
    $378,540

  • Chaya Back

    VP OF STRATEGY AND INNOVATION/INTERIM CFO

    Total calculated
    $693,068
    From this org
    $693,068
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $693,068
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $693,068

  • Tziporah Schwartz

    CHIEF BUSINESS DEVELOPMENT OFFICER

    Total calculated
    $680,946
    From this org
    $646,366
    From related orgs
    $0
    Other
    $34,580
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $646,366
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $34,580
    Filer's total
    $680,946

  • Chaya Schlesinger

    DIRECTOR OF HR

    Total calculated
    $230,024
    From this org
    $217,572
    From related orgs
    $0
    Other
    $12,452
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $217,572
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $12,452
    Filer's total
    $230,024

  • Devora Shteierman

    VP OF UTILIZATION MANAGEMENT

    Total calculated
    $198,328
    From this org
    $187,297
    From related orgs
    $0
    Other
    $11,031
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $187,297
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $11,031
    Filer's total
    $198,328

  • Lindsay Larocque

    VP OF CARE MANAGEMENT

    Total calculated
    $185,865
    From this org
    $174,772
    From related orgs
    $0
    Other
    $11,093
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $174,772
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $11,093
    Filer's total
    $185,865

  • Eric Kabel

    VP OF PROVIDER RELATIONS AND CONTRACTING

    Total calculated
    $184,146
    From this org
    $172,945
    From related orgs
    $0
    Other
    $11,201
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $172,945
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $11,201
    Filer's total
    $184,146

  • Christopher Hickey

    VP OF ASSESSMENTS

    Total calculated
    $173,603
    From this org
    $163,154
    From related orgs
    $0
    Other
    $10,449
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $163,154
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $10,449
    Filer's total
    $173,603

  • Emily Manning

    CHIEF TECHNOLOGY OFFICER

    Total calculated
    $221,512
    From this org
    $210,528
    From related orgs
    $0
    Other
    $10,984
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $210,528
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $10,984
    Filer's total
    $221,512

  • David Landau

    MANAGER OF FACILITY ENROLLMENTS

    Total calculated
    $256,117
    From this org
    $234,944
    From related orgs
    $0
    Other
    $21,173
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $234,944
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $21,173
    Filer's total
    $256,117

  • Mendel Ornstein

    COMPTROLLER

    Total calculated
    $228,537
    From this org
    $194,191
    From related orgs
    $0
    Other
    $34,346
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $194,191
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $34,346
    Filer's total
    $228,537

  • Shaindy Mayer

    DIRECTOR OF CLAIMS PROCESSING

    Total calculated
    $213,320
    From this org
    $190,232
    From related orgs
    $0
    Other
    $23,088
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $190,232
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $23,088
    Filer's total
    $213,320

  • Lipa Steinberg

    CHIEF INFORMATION SECURITY OFFICER

    Total calculated
    $179,036
    From this org
    $157,752
    From related orgs
    $0
    Other
    $21,284
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $157,752
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $21,284
    Filer's total
    $179,036

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 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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

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.

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 corporations and trusts

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

  • HAMASPIK INC

    C · HEALTH INSURANCE · NY · 100% owned · share of income $85,861,320 · share of assets $31,268,900 · controlled entity

    Directly controlled by HAMASPIK CHOICE INC

Provenance

Return type
form_990
Tax year
2023
Filed
5 November 2024
IRS schema version
2023v5.1
Source object
202433199349317633

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