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← WMC-NEW YORK INC

Form 990 for tax year 2023

Filed by WMC-NEW YORK INC.

What the amendment changed

Compared with the return it replaced , filed 1 November 2024. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Both are the same on the two returns, so the amendment changed something else.

Totals

Total revenue
$124,578,683
Total expenses
$123,974,371
Contributions and grants received
$0
Grants paid
$1,151,536
Program service revenue
$124,641,111
Investment income
$93,453
Other revenue
-$155,881
Total assets, end of year
$34,253,798
Total liabilities, end of year
$42,536,587
Net assets or fund balances, end of year
-$8,282,789
Program services expenses (Part IX)
$117,784,755
Management and general expenses
$6,189,616
Fundraising expenses
$0
Program service expenses (Part III)
$117,784,755

Program services were 95.0% 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: MANAGEMENT FEES

    total $122,261,908 · related or exempt $122,261,908

  • 2b · Program service revenue: RENTAL REVENUE

    total $2,379,203 · related or exempt $2,379,203

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $93,453 · excluded $93,453

  • 6a · Gross rents

    real property $695,970

  • 6b · Less rental expenses

    real property $822,503

  • 6c · Rental income or loss

    real property -$126,533 · personal property $0

  • 6d · Net rental income or loss

    total -$126,533 · excluded -$126,533

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11a · Other revenue: Seminar Income

    total $52,900 · excluded $52,900

  • 11b · Other revenue: LEASE ACCOUNTING ADJUSTMENT

    total -$82,248 · excluded -$82,248

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    -$29,348

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,151,536 · program services $1,151,536

  • 7 · Other salaries and wages

    total $88,345,596 · program services $83,928,316 · management and general $4,417,280

  • 8 · Pension plan contributions

    total $2,805,652 · program services $2,665,369 · management and general $140,283

  • 9 · Other employee benefits

    total $22,862,662 · program services $21,719,529 · management and general $1,143,133

  • 10 · Payroll taxes

    total $7,073,151 · program services $6,719,493 · management and general $353,658

  • 11b · Fees: legal

    total $11,063 · program services $10,510 · management and general $553

  • 11g · Fees: other

    total $667,415 · program services $544,955 · management and general $122,460 · fundraising $0

  • 13 · Office expenses

    total $546 · program services $36 · management and general $510

  • 14 · Information technology

    total $63,690 · program services $60,506 · management and general $3,184

  • 17 · Travel

    total $106,658 · program services $101,325 · management and general $5,333

  • 19 · Conferences, conventions and meetings

    total $4,099 · program services $3,894 · management and general $205

  • 20 · Interest

    total $838,066 · program services $838,066

  • 23 · Insurance

    total $43,613 · program services $40,626 · management and general $2,987

  • 24a · Other expenses: FOOD EXPENSES

    total $527 · program services $502 · management and general $25

  • 24b · Other expenses: MEMBERSHIP FEES

    total $97 · program services $92 · management and general $5

  • 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 $0 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $2,977,454 · end of year $400,368

  • 4 · Accounts receivable

    beginning of year $16,391,176 · end of year $10,902,232

  • 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 $171,714 · end of year $94,929

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

    $143,576

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

    $143,576

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $451,245 · end of year $472,512

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $22,831,751 · end of year $22,383,757

  • 17 · Accounts payable and accrued expenses

    beginning of year $17,854,188 · end of year $17,154,834

  • 19 · Deferred revenue

    beginning of year $15,740 · end of year $15,740

  • 20 · Tax-exempt bond liabilities

    beginning of year $20,138,766 · end of year $19,353,283

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $6,597,153 · end of year $6,012,730

  • 27 · Net assets without donor restrictions

    beginning of year -$1,782,507 · end of year -$8,282,789

Mission and programs · 2023

Mission

WMC NEW YORK, INC. SHALL AT ALL TIMES BE OPERATED EXCLUSIVELY FOR CHARITABLE, SCIENTIFIC, AND EDUCATIONAL PURPOSES WITHIN THE MEANING OF SECTION 170(C)(2)(B) AND 501(C)(3) OF THE CODE, AND FOR THE PURPOSE OF ENGAGING IN VARIOUS ACTIVITIES THAT FURTHER, SUPPORT, BENEFIT OR CARRY OUT THE PURPOSES, MISSIONS, OBJECTIVES, OPERATIONS, AND ACTIVITIES OF 1) WCHCC, WHICH INCLUDES, WESTCHESTER MEDICAL CENTER, THE BEHAVIORAL HEALTH CENTER AT WESTCHESTER, MARIA FARERI CHILDREN'S HOSPITAL, AND MIDHUDSON REGIONAL HOSPITAL, AND 2) WESTCHESTER MEDICAL CENTER FOUNDATION, INC., A NEW YORK NOT-FOR-PROFIT CORPORATION, INCLUDING, WITHOUT LIMITATION, FOR THE PURPOSE OF SERVING AS A HOLDING CORPORATION FOR ONE OR MORE OTHER FOR-PROFIT AND NOT-FOR-PROFIT CORPORATIONS, INCLUDING SPECIFICALLY, A NOT-FOR-PROFIT CAPTIVE INSURANCE CORPORATION THAT OPERATES FOR THE PURPOSE OF ACCUMULATING, HOLDING, AND OTHERWISE SERVING AS AN INSURANCE COMPANY TO BE USED TO SATISFY PROFESSIONAL LIABILITY CLAIMS AND OTHER CLAIMS.

Activities or mission (Part I)

ENGAGES IN ACTIVITIES THAT FURTHER SUPPORT, BENEFIT, AND CARRYOUT THE PURPOSES, MISSIONS, OBJECTIVES, AND ACTIVITIES OF WESTCHESTER COUNTY HEALTH CARE CORP.

  • WMC NEW YORK, INC. (WMC NY)'S PURPOSE IS TO ENGAGE IN VARIOUS ACTIVITIES THAT FURTHER, SUPPORT, BENEFIT OR CARRY OUT THE PURPOSES, MISSIONS, OBJECTIVES, OPERATIONS AND ACTIVITIES OF WESTCHESTER MEDICAL CENTER, WHICH INCLUDES WESTCHESTER MEDICAL CENTER, MARIA FARERI CHILDREN'S HOSPITAL, THE BEHAVIORAL HEALTH CENTER AT WESTCHESTER, AND SUCH OTHER HOSPITALS AND HEALTH CARE FACILITIES AS MAY BE ESTABLISHED OR TO OTHERWISE BECOME PART OF WESTCHESTER MEDICAL CENTER IN THE FUTURE, AND WESTCHESTER MEDICAL CENTER FOUNDATION, INC., A NEW YORK NOT-FOR-PROFIT CORPORATION. IN ADDITION, WMC NY IS THE HOLDER OF 100% OF THE MEMBERSHIP SHARES IN WCHCC (BERMUDA), LIMITED, A BERMUDA INSURANCE COMPANY FORMED TO SERVE AS AN OFF-SHORE CAPTIVE INSURANCE COMPANY FOR WESTCHESTER COUNTY HEALTH CARE CORPORATION (WCHCC). WMC NY IS ALSO THE SOLE MEMBER OF MID-HUDSON VALLEY STAFFCO, LLC, A PROFESSIONAL EMPLOYER ORGANIZATION. WMC NY IS ALSO THE SOLE MEMBER OF HUDSON VALLEY PROPERTY HOLDINGS LLC. WMC NY IS ALSO THE SOLE MEMBER OF CENTER FOR REGIONAL HEALTHCARE INNOVATION LLC, WHICH SERVES AS A CENTRALIZED SERVICES PROVIDER TO THE PERFORMING PROVIDER SYSTEM BEING ESTABLISHED BY WCHCC TO SERVE AS A CENTER TO EVALUATE AND IMPLEMENT BEST PRACTICES IN HEALTHCARE DELIVERY FOR THE HUDSON VALLEY REGION.

    Expenses $117,784,755 · Grants $1,151,536 · Revenue $124,641,111

As filed on the 2023 return.

Listed in Part VII

  • GARY BRUDNICKI

    TREASURER (Resigned October 2023)

    Total calculated
    $2,409,647
    From this org
    $0
    From related orgs
    $2,366,825
    Other
    $42,822
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,403,075 related
    Bonus
    $0 + $933,750 related
    Other
    $0 + $30,000 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $42,822 related
    Filer's total
    $0 + $2,409,647 related

  • JOHN MORGAN

    EXECUTIVE DIRECTOR (EFFECTIVE November 2023)

    Total calculated
    $655,103
    From this org
    $0
    From related orgs
    $622,886
    Other
    $32,217
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $480,935 related
    Bonus
    $0 + $119,451 related
    Other
    $0 + $22,500 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $32,217 related
    Filer's total
    $0 + $655,103 related

  • JULIE SWITZER

    SECRETARY

    Total calculated
    $1,093,397
    From this org
    $0
    From related orgs
    $1,059,210
    Other
    $34,187
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $798,636 related
    Bonus
    $0 + $230,574 related
    Other
    $0 + $30,000 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $34,187 related
    Filer's total
    $0 + $1,093,397 related

  • MARK TULIS

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • JOHN HEIMERDINGER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 7 related

  • MICHAEL ISRAEL

    TRUSTEE

    Total calculated
    $3,457,592
    From this org
    $0
    From related orgs
    $3,394,564
    Other
    $63,028
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,999,564 related
    Bonus
    $0 + $1,365,000 related
    Other
    $0 + $30,000 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $63,028 related
    Filer's total
    $0 + $3,457,592 related

  • DAVID INGBER

    EXECUTIVE DIRECTOR (Resigned November 2023)

    Total calculated
    $465,648
    From this org
    $0
    From related orgs
    $381,163
    Other
    $84,485
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $207,672 related
    Bonus
    $0 + $154,379 related
    Other
    $0 + $19,112 related
    Deferred
    $0 + $46,725 related
    Nontaxable benefits
    $0 + $37,760 related
    Filer's total
    $0 + $465,648 related

  • KALPU SHAH

    REGISTERED NURSE

    Total calculated
    $276,993
    From this org
    $250,091
    From related orgs
    $0
    Other
    $26,902
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $248,591
    Bonus
    $1,500
    Other
    $0
    Deferred
    $26,902
    Nontaxable benefits
    $0
    Filer's total
    $276,993

  • KOFI ADJEI

    DIRECTOR, PHARMACY

    Total calculated
    $270,529
    From this org
    $200,019
    From related orgs
    $0
    Other
    $70,510
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $200,019
    Bonus
    $0
    Other
    $0
    Deferred
    $29,996
    Nontaxable benefits
    $40,514
    Filer's total
    $270,529

  • LESLIE PITTS

    REGISTERED NURSE

    Total calculated
    $224,504
    From this org
    $196,933
    From related orgs
    $0
    Other
    $27,571
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $195,433
    Bonus
    $1,500
    Other
    $0
    Deferred
    $27,571
    Nontaxable benefits
    $0
    Filer's total
    $224,504

  • PETER BURDASH

    MANAGER, PHARMACY

    Total calculated
    $273,875
    From this org
    $197,788
    From related orgs
    $0
    Other
    $76,087
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $197,788
    Bonus
    $0
    Other
    $0
    Deferred
    $35,576
    Nontaxable benefits
    $40,511
    Filer's total
    $273,875

  • SUCHITA YESUPATHAM

    REGISTERED NURSE

    Total calculated
    $280,885
    From this org
    $248,320
    From related orgs
    $0
    Other
    $32,565
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $246,820
    Bonus
    $1,500
    Other
    $0
    Deferred
    $32,565
    Nontaxable benefits
    $0
    Filer's total
    $280,885

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 I, Line 3 Arrangement used to establish the top management official's compensation
THE ORGANIZATION RELIED ON A RELATED ORGANIZATION THAT USED ONE OR MORE OF THE METHODS DESCRIBED IN SCHEDULE J PART I LINE 3 TO ESTABLISH THE TOP MANAGEMENT OFFICIAL'S COMPENSATION AS DESCRIBED BELOW: THE BOARD OF DIRECTORS PERSONNEL AND COMPENSATION COMMITTEE SETS THE LEVEL OF TOTAL COMPENSATION (BASE SALARY AND INCENTIVE COMPENSATION) AND THE BENEFITS PROVIDED TO THE ORGANIZATION'S SENIOR EXECUTIVES. IN ORDER TO SET BASE SALARY AND INCENTIVE COMPENSATION LEVELS, THE COMMITTEE WORKS WITH A NATIONAL INDEPENDENT COMPENSATION CONSULTING FIRM. THE CONSULTING FIRM ASSISTS THE COMMITTEE WITH ITS DECISION-MAKING PROCESSES TO ENSURE THAT (I) EXECUTIVE COMPENSATION LEVELS ARE REASONABLE AND APPROPRIATE RELATIVE TO THOSE OF OTHER SIMILAR ORGANIZATIONS, AS WELL AS (II) SUCH LEVELS MEET THE 'REBUTTABLE PRESUMPTION OF REASONABLENESS' STANDARD. COMPENSATION LEVELS ARE DETERMINED BASED ON COMPETITIVE MARKET DATA FOR COMPARABLE POSITIONS IN SIMILAR SIZED AND TYPE OF ORGANIZATIONS AND EACH EXECUTIVE'S SCOPE OF RESPONSIBILITIES. IN ADDITION, INCENTIVE COMPENSATION ARRANGEMENTS ARE BASED ON EACH EXECUTIVE'S ACHIEVEMENT OF SPECIFIC PERFORMANCE GOALS SET FORTH AT THE BEGINNING OF EACH CALENDAR YEAR, THE ACHIEVEMENT OF WHICH IS MEASURED AT THE END OF EACH CALENDAR YEAR BY THE CEO OR THE BOARD OF DIRECTORS DEPENDING ON THE EXECUTIVE.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Related corporations and trusts

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

  • HUDSON RIVER WEST INSURANCE LIMITED

    C Corporation · CAP INSURANCE · CJ · 0% owned · share of income $0 · share of assets $0

    Directly controlled by BSCHSI

  • HUDSON RIVER NORTH INSURANCE LIMITED

    C Corporation · CAP INSURANCE · CJ · 0% owned · share of income $0 · share of assets $0

    Directly controlled by HA INC

  • NORTHEAST PROVIDER SOLUTIONS INC

    C Corporation · MSO & HEARING · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • WESTCHESTER MEDICAL CENTER ADVANCED PHYSICIAN SERVICES PC

    C Corporation · PHYSICIAN OFFICE · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • WCHCC (BERMUDA) LIMITED

    C Corporation · CAP INSURANCE · BD · 100% owned · share of income $27,043,588 · share of assets $229,998,836 · controlled entity

    Directly controlled by WMC NEW YORK

  • KINGSTON REGIONAL HEALTH CARE ENTERPRISE

    C Corporation · INVESTMENT · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by HAH BWAY

  • MID HUDSON PHYSICIANS PC

    C Corporation · MEDICAL SVCS · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by NA

  • BCCHS MEDICAL GROUP PC

    C Corporation · PHYSICIAN OFFICE · NJ · 0% owned · share of income $0 · share of assets $0

    Directly controlled by BSCHSI

Provenance

Return type
form_990
Tax year
2023
Filed
6 November 2024
IRS schema version
2023v5.1
Source object
202433119349303668

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