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Nonprofiteer
← BASSETT HEALTHCARE NETWORK

Form 990 for tax year 2024

Filed by BASSETT HEALTHCARE NETWORK.

Totals

Total revenue
$5,387,568
Total expenses
$140,405
Contributions and grants received
$441,659
Grants paid
$0
Program service revenue
$3,436,930
Investment income
$1,508,979
Other revenue
$0
Total assets, end of year
$704,671,850
Total liabilities, end of year
$733,442,857
Net assets or fund balances, end of year
-$28,771,007
Program services expenses (Part IX)
$140,405
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$140,405

Program services were 100.0% 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.

  • 1d · Related organizations

    $441,659

  • 2a · Program service revenue: AFFILIATE REVENUE

    total $3,436,930 · related or exempt $3,436,930

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $1,508,979 · excluded $1,508,979

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 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.

  • 7 · Other salaries and wages

    total -$1,310,675 · program services -$1,310,675

  • 9 · Other employee benefits

    total -$253,289 · program services -$253,289

  • 11g · Fees: other

    total $1,281,281 · program services $1,281,281 · management and general $0 · fundraising $0

  • 20 · Interest

    total $22,776 · program services $22,776

  • 22 · Depreciation, depletion and amortization

    total $0 · program services $0

  • 23 · Insurance

    total $400,312 · program services $400,312

  • 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 $22,015,683 · end of year $50,215,133

  • 2 · Savings and temporary cash investments

    beginning of year $4,743 · end of year $4,913

  • 3 · Pledges and grants receivable

    beginning of year $7,298,746 · end of year $13,594,319

  • 4 · Accounts receivable

    beginning of year $1,008,189 · end of year $1,117,290

  • 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

  • 8 · Inventories for sale or use

    beginning of year $2,572,101 · end of year $2,688,345

  • 9 · Prepaid expenses and deferred charges

    beginning of year $324,292 · end of year $1,201

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

    $734

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $734 · end of year $734

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $10,408,879 · end of year $637,049,915

  • 17 · Accounts payable and accrued expenses

    beginning of year $73,984,452 · end of year $96,789,168

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $3,667,085 · end of year $636,653,689

  • 27 · Net assets without donor restrictions

    beginning of year -$34,434,716 · end of year -$29,189,434

  • 28 · Net assets with donor restrictions

    beginning of year $416,546 · end of year $418,427

Mission and programs · 2024

Mission

SEE SCHEDULE O

  • BASSETT HEALTHCARE NETWORK (THE NETWORK), IS A NEW YORK BASED TAX-EXEMPT ORGANIZATION THAT IS THE SOLE MEMBER VARIOUS ORGANIZATIONS THAT WORK TOGETHER AS A SINGLE INTEGRATED HEALTHCARE NETWORK TO DELIVER CARE AND SERVICES TO PEOPLE LIVING IN A 5,600 SQUARE MILE REGION COVERING SEVEN COUNTIES OF UPSTATE AND CENTRAL NEW YORK. REVENUE AND EXPENSES FROM THE INVESTMENT ACTIVITIES ARE USED TO SUPPORT THE ADMINISTRATION OF THE HEALTHCARE NETWORK.

    Expenses $140,405 · Revenue $3,436,930

As filed on the 2024 return.

Listed in Part VII

  • Doug Hastings

    Chair

    Total calculated
    $0
    Hours/week
    2

  • Staci Thompson

    Network President CEO

    Total calculated
    $878,927
    From this org
    $866,810
    From related orgs
    $0
    Other
    $12,117
    Hours/week
    40 + 14 related

    Schedule J breakdown matched by us

    Base
    $826,810
    Bonus
    $40,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $12,117
    Filer's total
    $878,927

  • V Daniel Robinson II

    Vice Chair

    Total calculated
    $0
    Hours/week
    2

  • Anil Rustgi MD

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Carl Mummenthey

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Jane Forbes Clark

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • John Zogby

    Board Member (Thru 1/24)

    Total calculated
    $0
    Hours/week
    2

  • Joseph Scopelliti

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Julie Yoo

    Board Member (Thru 12/24)

    Total calculated
    $0
    Hours/week
    2

  • Kevin S Moore

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Lorraine Zimniewicz

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Marion Terenzio PhD

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Robert Hanft

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Steven Kroll

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Susan Turney MD

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Walter Franck MD

    Board Member

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Craig Faerber

    Interim Network CFO

    Total calculated
    $524,460
    From this org
    $0
    From related orgs
    $524,460
    Other
    $0
    Hours/week
    2 + 56 related

    Schedule J breakdown matched by us

    Base
    $0 + $524,460 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $524,460 related

  • Jeffrey Morgan

    SVP Chief Financial Officer (THRU 10/24)

    Total calculated
    $616,874
    From this org
    $610,588
    From related orgs
    $0
    Other
    $6,286
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $556,782
    Bonus
    $53,806
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $6,286
    Filer's total
    $616,874

  • Paul Uhrig

    SVP Chief Legal Digital Health Officer

    Total calculated
    $515,334
    From this org
    $484,196
    From related orgs
    $0
    Other
    $31,138
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $430,390
    Bonus
    $53,806
    Other
    $0
    Deferred
    $20,856
    Nontaxable benefits
    $10,282
    Filer's total
    $515,334

  • Reggie Knight MD

    CCIO (Thru 4/24)

    Total calculated
    $196,411
    From this org
    $174,453
    From related orgs
    $10,735
    Other
    $11,223
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $174,453 + $10,735 related
    Bonus
    $0
    Other
    $0
    Deferred
    $11,223
    Nontaxable benefits
    $0
    Filer's total
    $185,676 + $10,735 related

  • Angela Belmont

    SVP Chief Nursing Exec

    Total calculated
    $394,769
    From this org
    $368,843
    From related orgs
    $0
    Other
    $25,926
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $335,003
    Bonus
    $33,840
    Other
    $0
    Deferred
    $20,328
    Nontaxable benefits
    $5,598
    Filer's total
    $394,769

  • Christine Pirri

    VP Chief Workforce Solutions (Thru 4/24)

    Total calculated
    $432,997
    From this org
    $424,892
    From related orgs
    $0
    Other
    $8,105
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $111,017
    Bonus
    $33,592
    Other
    $280,283
    Deferred
    $6,732
    Nontaxable benefits
    $1,373
    Filer's total
    $432,997

  • Deanna Charles

    SVP Chief Ambulatory Transformation Of

    Total calculated
    $354,424
    From this org
    $333,943
    From related orgs
    $0
    Other
    $20,481
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $303,693
    Bonus
    $30,250
    Other
    $0
    Deferred
    $20,481
    Nontaxable benefits
    $0
    Filer's total
    $354,424

  • Henry Weil MD

    SVP Chief Clinical Ac

    Total calculated
    $851,976
    From this org
    $809,687
    From related orgs
    $0
    Other
    $42,289
    Hours/week
    40 + 4 related

    Schedule J breakdown matched by us

    Base
    $735,627
    Bonus
    $74,060
    Other
    $0
    Deferred
    $31,206
    Nontaxable benefits
    $11,083
    Filer's total
    $851,976

  • Michael Thompson

    VP Sys Imp Chief of Staff

    Total calculated
    $331,983
    From this org
    $316,515
    From related orgs
    $0
    Other
    $15,468
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $286,981
    Bonus
    $29,534
    Other
    $0
    Deferred
    $5,907
    Nontaxable benefits
    $9,561
    Filer's total
    $331,983

  • Tommy Ibrahim MD

    Former President

    Total calculated
    $424,611
    From this org
    $411,723
    From related orgs
    $0
    Other
    $12,888
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $411,723
    Deferred
    $12,888
    Nontaxable benefits
    $0
    Filer's total
    $424,611

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 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 7 · Other non-fixed payments

Answered no

  • 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 4a Severance or change-of-control payment
TOMMY IBRAHIM, MD RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $166,325 AND PTO PAYOUT IN THE AMOUNT OF $245,398. CHRISTINE PIRRI RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $223,947 AND PTO PAYOUT IN THE AMOUNT OF $56,336. THESE AMOUNTS ARE INCLUDED IN THE TOTAL REPORTED IN COLUMN B(III).
Schedule J, Part I, Line 7 Non-fixed payments
NON-FIXED PAYMENTS ARE MADE BASED ON THE SUCCESS IN MEETING PERFORMANCE CRITERIA THAT ARE PROSPECTIVELY AGREED UPON AS GOALS FOR THE OFFICERS AND OTHER EMPLOYEES.

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 partnerships

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

  • FIRST COMMUNITY CARE OF BASSETT

    Related · HEALTHCARE · NY · 50% owned · share of income $487,518 · share of assets $699,639

    Directly controlled by BHN

  • STAMFORD PROFESSIONAL ASSOCIATES

    Related · RENTAL · NY · 75% owned · share of income $0

    Directly controlled by CATSKILL CARE

Related corporations and trusts

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

  • LEATHERSTOCKING PHYSICIANS PC

    C Corporation · HEALTHCARE SVCS · NY · controlled entity

    Directly controlled by NA

  • CATSKILL CARE ENTERPRISES

    C Corporation · RETAIL PHARMACY · NY · controlled entity

    Directly controlled by AO Fox

Provenance

Return type
form_990
Tax year
2024
Filed
13 November 2025
IRS schema version
2024v5.1
Source object
202543179349307144

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