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Nonprofiteer
← HAMASPIK CHOICE INC

Form 990 for tax year 2022

Filed by HAMASPIK CHOICE INC.

Totals

Total revenue
$92,626,820
Total expenses
$92,178,236
Contributions and grants received
$0
Grants paid
$419,100
Program service revenue
$91,318,659
Investment income
$1,308,161
Other revenue
$0
Total assets, end of year
$66,121,497
Total liabilities, end of year
$17,911,477
Net assets or fund balances, end of year
$48,210,020
Program services expenses (Part IX)
$79,256,860
Management and general expenses
$12,921,376
Fundraising expenses
$0
Program service expenses (Part III)
$79,256,860

Program services were 86.0% 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 $89,758,038 · related or exempt $89,758,038

  • 2b · Program service revenue: QUALITY INCENTIVE POOL AWARD

    total $1,016,986 · related or exempt $1,016,986

  • 2c · Program service revenue: PATIENT SURPLUS

    total $543,635 · related or exempt $543,635

  • 3 · Investment income

    total $290,929 · excluded $290,929

  • 7a · Gross sales of assets other than inventory

    securities $2,000,000

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

    securities $982,768

  • 7c · Gain or loss

    securities $1,017,232

  • 7d · Net gain or loss

    total $1,017,232 · excluded $1,017,232

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $419,100 · program services $419,100

  • 5 · Compensation of officers, directors and key employees

    total $2,185,797 · program services $955,098 · management and general $1,230,699

  • 7 · Other salaries and wages

    total $10,044,841 · program services $4,270,203 · management and general $5,774,638

  • 9 · Other employee benefits

    total $1,838,252 · program services $1,516,548 · management and general $321,704

  • 10 · Payroll taxes

    total $914,826 · program services $390,248 · management and general $524,578

  • 11b · Fees: legal

    total $289,121 · management and general $289,121

  • 11c · Fees: accounting

    total $67,000 · management and general $67,000

  • 11g · Fees: other

    total $72,415,365 · program services $70,404,815 · management and general $2,010,550

  • 12 · Advertising and promotion

    total $64,053 · management and general $64,053

  • 13 · Office expenses

    total $944,851 · program services $494,574 · management and general $450,277

  • 14 · Information technology

    total $1,175,120 · management and general $1,175,120

  • 16 · Occupancy

    total $388,625 · management and general $388,625

  • 17 · Travel

    total $213,478 · program services $205,930 · management and general $7,548

  • 20 · Interest

    total $217,075 · management and general $217,075

  • 22 · Depreciation, depletion and amortization

    total $450,404 · program services $450,404

  • 23 · Insurance

    total $149,940 · program services $149,940

  • 24a · Other expenses: ASSOCIATION FEES

    total $400,388 · management and general $400,388

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,456,101 · end of year $2,473,831

  • 2 · Savings and temporary cash investments

    beginning of year $32,622,337 · end of year $36,332,463

  • 4 · Accounts receivable

    beginning of year $3,298,133 · end of year $588,079

  • 5 · Loans and receivables from officers and key people

    beginning of year $3,605,562

  • 9 · Prepaid expenses and deferred charges

    beginning of year $346,803 · end of year $157,108

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

    $5,373,594

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

    $3,352,242

  • 10c · Land, buildings and equipment, net

    beginning of year $2,666,772 · end of year $2,021,352

  • 13 · Investments: program-related

    beginning of year $12,074,177 · end of year $19,074,177

  • 15 · Other assets

    beginning of year $4,756,553 · end of year $5,474,487

  • 17 · Accounts payable and accrued expenses

    beginning of year $11,797,604 · end of year $11,712,824

  • 19 · Deferred revenue

    beginning of year $2,000,000

  • 24 · Unsecured notes and loans payable

    beginning of year $5,267,396 · end of year $42,493

  • 25 · Other liabilities

    beginning of year $0 · end of year $6,156,160

  • 27 · Net assets without donor restrictions

    beginning of year $47,761,438 · end of year $48,210,020

Mission and programs · 2022

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 $79,256,860 · Grants $419,100 · Revenue $91,318,659

As filed on the 2022 return.

Listed in Part VII

  • Herschel Weiss

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Abraham Hershkovitz

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Israel Stein

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Jacob Cohn

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Meyer Wertheimer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Yoel Bernath

    EXECUTIVE DIRECTOR

    Total calculated
    $726,860
    From this org
    $718,639
    From related orgs
    $0
    Other
    $8,221
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $718,639
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $8,221
    Filer's total
    $726,860

  • Joel Brach

    CHIEF FINANCIAL OFFICER

    Total calculated
    $170,113
    From this org
    $156,268
    From related orgs
    $0
    Other
    $13,845
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $156,268
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $13,845
    Filer's total
    $170,113

  • Hammad Rizvi

    CHIEF MEDICAL OFFICER

    Total calculated
    $397,040
    From this org
    $397,040
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $397,040
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $397,040

  • Karl Dehm

    VP OF COMPLIANCE & REGULAT

    Total calculated
    $314,679
    From this org
    $295,204
    From related orgs
    $0
    Other
    $19,475
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $295,204
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $19,475
    Filer's total
    $314,679

  • Chaya Back

    VP OF STRATEGY AND INNOVAT/INTERIM CFO

    Total calculated
    $267,315
    From this org
    $223,633
    From related orgs
    $0
    Other
    $43,682
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $223,633
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $43,682
    Filer's total
    $267,315

  • David M Friedman

    VP OF OPERATIONS

    Total calculated
    $309,790
    From this org
    $279,530
    From related orgs
    $0
    Other
    $30,260
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $279,530
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $30,260
    Filer's total
    $309,790

  • Emily Manning

    VP OF OPERATION - MEDICARE

    Total calculated
    $201,660
    From this org
    $192,027
    From related orgs
    $0
    Other
    $9,633
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $192,027
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $9,633
    Filer's total
    $201,660

  • Tziporah Schwartz

    CHIEF BUSINESS DEVELOPMENT OFFICER

    Total calculated
    $369,882
    From this org
    $354,025
    From related orgs
    $0
    Other
    $15,857
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $354,025
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $15,857
    Filer's total
    $369,882

  • David Landau

    MANAGER OF FACILITY ENROLLMENTS

    Total calculated
    $207,611
    From this org
    $189,043
    From related orgs
    $0
    Other
    $18,568
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $189,043
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $18,568
    Filer's total
    $207,611

  • Shaindy Mayer

    DIRECTOR OF CLAIMS PROCESSING

    Total calculated
    $228,133
    From this org
    $207,728
    From related orgs
    $0
    Other
    $20,405
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $207,728
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $20,405
    Filer's total
    $228,133

  • Chaya Schlesinger

    DIRECTOR OF HR

    Total calculated
    $228,246
    From this org
    $217,145
    From related orgs
    $0
    Other
    $11,101
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $217,145
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $11,101
    Filer's total
    $228,246

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

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 $45,172,707 · share of assets $21,605,009 · controlled entity

    Directly controlled by HAMASPIK CHOICE INC

Provenance

Return type
form_990
Tax year
2022
Filed
16 November 2023
IRS schema version
2022v5.0
Source object
202343199349326194

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