Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: MEDICAID CAPITATION

  total $1,112,039,404 · related or exempt $1,112,039,404

• 2b · Program service revenue: MEDICARE

  total $19,908,767 · related or exempt $19,908,767

• 2c · Program service revenue: SURPLUS MEMBER INCOME

  total $229,998 · related or exempt $229,998

• 2f · All other program service revenue

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

• 3 · Investment income

  total $2,812,357 · excluded $2,812,357

• 6c · Rental income or loss

  real property $0 · personal property $0

• 7a · Gross sales of assets other than inventory

  securities $181,667,217

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

  securities $182,406,386

• 7c · Gain or loss

  securities -$739,169 · other assets $0

• 7d · Net gain or loss

  total -$739,169 · excluded -$739,169

• 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 $1,716,373 · management and general $1,716,373

• 7 · Other salaries and wages

  total $39,796,223 · program services $30,946,578 · management and general $8,849,645

• 8 · Pension plan contributions

  total $2,225,186 · program services $1,699,155 · management and general $526,031

• 9 · Other employee benefits

  total $6,026,946 · program services $4,556,913 · management and general $1,470,033

• 10 · Payroll taxes

  total $3,102,300 · program services $2,319,188 · management and general $783,112

• 11a · Fees: management

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

• 11b · Fees: legal

  total $3,989,421 · management and general $3,989,421

• 11c · Fees: accounting

  total $36,556 · management and general $36,556

• 11f · Fees: investment management

  total $282,384 · management and general $282,384

• 11g · Fees: other

  total $1,032,567,366 · program services $1,030,673,526 · management and general $1,893,840 · fundraising $0

• 12 · Advertising and promotion

  total $558,610 · management and general $558,610

• 13 · Office expenses

  total $1,924,601 · management and general $1,924,601

• 14 · Information technology

  total $4,387,774 · management and general $4,387,774

• 16 · Occupancy

  total $3,579,896 · management and general $3,579,896

• 17 · Travel

  total $662,862 · management and general $662,862

• 20 · Interest

  total $469,366 · management and general $469,366

• 22 · Depreciation, depletion and amortization

  total $394,763 · management and general $394,763

• 23 · Insurance

  total $2,140,408 · management and general $2,140,408

• 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 $54,734,957 · end of year $30,378,730

• 2 · Savings and temporary cash investments

  beginning of year $1,480,557 · end of year $1,477,829

• 3 · Pledges and grants receivable

  beginning of year $0

• 4 · Accounts receivable

  beginning of year $49,850,187 · end of year $78,320,719

• 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

• 7 · Other notes and loans receivable

  beginning of year $0

• 8 · Inventories for sale or use

  beginning of year $0

• 9 · Prepaid expenses and deferred charges

  beginning of year $452,178 · end of year $377,764

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

  $13,593,216

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

  $9,070,890

• 10c · Land, buildings and equipment, net

  beginning of year $4,265,852 · end of year $4,522,326

• 11 · Investments: publicly traded securities

  beginning of year $93,695,788 · end of year $94,507,395

• 12 · Investments: other securities

  beginning of year $0

• 13 · Investments: program-related

  beginning of year $0

• 15 · Other assets

  beginning of year $11,606,804 · end of year $9,294,668

• 17 · Accounts payable and accrued expenses

  beginning of year $70,505,924 · end of year $77,838,690

• 18 · Grants payable

  beginning of year $0

• 19 · Deferred revenue

  beginning of year $0

• 20 · Tax-exempt bond liabilities

  beginning of year $0

• 21 · Escrow or custodial account liability

  beginning of year $0

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $0

• 24 · Unsecured notes and loans payable

  beginning of year $0 · end of year $9,066,640

• 25 · Other liabilities

  beginning of year $87,540,355 · end of year $60,463,430

• 27 · Net assets without donor restrictions

  beginning of year $58,040,044 · end of year $71,510,671

• 28 · Net assets with donor restrictions

  beginning of year $0

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.