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Nonprofiteer
← MEDISYS HEALTH NETWORK INC

Form 990 for tax year 2023

Filed by MEDISYS HEALTH NETWORK INC.

Totals

Total revenue
$7,052,717
Total expenses
$6,735,518
Contributions and grants received
$2,506,382
Grants paid
$0
Program service revenue
$3,780,271
Investment income
$727,537
Other revenue
$38,527
Total assets, end of year
$178,107,101
Total liabilities, end of year
$147,467,643
Net assets or fund balances, end of year
$30,639,458
Program services expenses (Part IX)
$5,997,370
Management and general expenses
$738,148
Fundraising expenses
$0
Program service expenses (Part III)
$5,997,370

Program services were 89.0% 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.

  • 1c · Fundraising events

    $2,506,382

  • 2a · Program service revenue: MGMT FEES-FHMC

    total $2,499,996 · related or exempt $2,499,996

  • 2b · Program service revenue: RENTAL INCOME

    total $1,073,159 · related or exempt $1,073,159

  • 2c · Program service revenue: CHARGE BACK REVENUE/JH

    total $207,116 · related or exempt $207,116

  • 3 · Investment income

    total $727,537 · excluded $727,537

  • 8a · Fundraising events: gross income

    $354,825

  • 8a · Fundraising events: contributions included on line 1c

    $2,506,382

  • 8b · Fundraising events: direct expenses

    $812,365

  • 8c · Net income from fundraising events

    total -$457,540 · excluded -$457,540

  • 11a · Other revenue: REBATE INCOME

    total $490,090 · related or exempt $490,090

  • 11d · All other revenue

    total $5,977 · related or exempt $5,977

  • 11e · Other revenue, total

    $496,067

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $2,525,336 · program services $2,222,296 · management and general $303,040

  • 10 · Payroll taxes

    total $54,521 · program services $47,978 · management and general $6,543

  • 11a · Fees: management

    total $185,181 · program services $163,233 · management and general $21,948

  • 11g · Fees: other

    total $107,823 · program services $107,823

  • 12 · Advertising and promotion

    total $1,100 · program services $1,100

  • 13 · Office expenses

    total $56,512 · program services $53,319 · management and general $3,193

  • 14 · Information technology

    total $370,597 · program services $370,597

  • 16 · Occupancy

    total $1,153,342 · program services $989,948 · management and general $163,394

  • 17 · Travel

    total $7,738 · program services $6,577 · management and general $1,161

  • 20 · Interest

    total $360,818 · program services $360,818

  • 22 · Depreciation, depletion and amortization

    total $1,375,964 · program services $1,375,964

  • 24a · Other expenses: CHARGE BACKS

    total $207,116 · management and general $207,116

  • 24b · Other expenses: REPAIRS AND MAINTEANCE

    total $191,818 · program services $160,096 · management and general $31,722

  • 24e · All other expenses

    total $137,652 · program services $137,621 · management and general $31

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $16,643,950 · end of year $28,095,669

  • 4 · Accounts receivable

    beginning of year $10 · end of year $622,395

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

    $61,400,316

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

    $33,843,092

  • 10c · Land, buildings and equipment, net

    beginning of year $17,564,120 · end of year $27,557,224

  • 11 · Investments: publicly traded securities

    beginning of year $3,377,447 · end of year $3,774,124

  • 13 · Investments: program-related

    beginning of year $150,000 · end of year $150,000

  • 15 · Other assets

    beginning of year $117,423,848 · end of year $117,907,689

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,515,528 · end of year $2,115,065

  • 23 · Secured mortgages and notes payable

    beginning of year $6,354,968 · end of year $11,016,370

  • 25 · Other liabilities

    beginning of year $115,134,802 · end of year $134,336,208

  • 27 · Net assets without donor restrictions

    beginning of year $30,154,077 · end of year $30,639,458

Mission and programs · 2023

Mission

TO SUPPORT THE OPERATIONS OF THE JAMAICA HOSPITAL MEDICAL CENTER, FLUSHING HOSPITAL MEDICAL CENTER, AND OTHER ORGANIZATIONS LISTED IN SCHEDULE R, PART II, WHICH ARE HOSPITAL TAX EXEMPT UNDER IRC SECTION 501(C)(3).

Activities or mission (Part I)

TO SUPPORT THE OPERATIONS OF THE JAMAICA HOSPITAL MEDICAL CENTER, FLUSHING HOSPITAL MEDICAL CENTER AND OTHER ORGANIZATIONS LISTED IN SCHEDULE R, PART II, WHICH ARE HOSPITALS TAX EXEMPT UNDER IRC SECTION 501(C)(3).

  • MEDISYS HEALTH NETWORK PROVIDES SERVICES TO SUPPORT AND BENEFIT JAMAICA HOSPITAL MEDICAL CENTER, FLUSHING HOSPITAL MEDICAL CENTER AND IT'S RELATED HEALTHCARE ORGANIZATIONS.

    Expenses $5,997,370 · Revenue $4,276,338

As filed on the 2023 return.

Listed in Part VII

  • Anthony Dimaria MD

    OUTGOING TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Anthony Mazza

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Antonietta Morisco MD

    ASSISTANT SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Bruce Flanz

    PRESIDENT & CEO

    Total calculated
    $3,039,589
    From this org
    $1,687,332
    From related orgs
    $1,290,039
    Other
    $62,218
    Hours/week
    10 + 55 related

    Schedule J breakdown matched by us

    Base
    $1,687,332 + $1,173,281 related
    Bonus
    $0
    Other
    $0 + $116,758 related
    Deferred
    $0 + $8,250 related
    Nontaxable benefits
    $0 + $53,968 related
    Filer's total
    $1,687,332 + $1,352,257 related

  • Douglas W Singer

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Geoffrey Doughlin MD

    ASSISTANT TREASURER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Hon Timothy J Dufficy

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Joseph Ferrara

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Joseph Liana

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Neil Foster Phillips

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Philippa L Karteron

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Robert W Koop

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Michelle Stoddart

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Thomas J Santucci

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Mounir Doss

    EXECUTIVE VP & CFO

    Total calculated
    $1,895,670
    From this org
    $838,312
    From related orgs
    $995,140
    Other
    $62,218
    Hours/week
    10 + 55 related

    Schedule J breakdown matched by us

    Base
    $838,312 + $958,628 related
    Bonus
    $0
    Other
    $0 + $36,512 related
    Deferred
    $0 + $8,250 related
    Nontaxable benefits
    $0 + $53,968 related
    Filer's total
    $838,312 + $1,057,358 related

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 · 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 partnerships

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

  • NHP HOLDINGS LLC

    HOLDING COMPANY · NY

Related corporations and trusts

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

  • FRR RECOVERY SERVICES

    C · COLLECTION AGENCY · NY

  • HI TECH MEDICAL EQUIPMENT

    C · DURABLE MEDICAL EQUIPMENT COMPANY/INACTIVE · NY

  • JAMAICA RX

    C · RETAIL PHARMACY · NY

  • MEDISYS HOME CARE SERVICE INC

    C · HOME CARE STAFFING/INACTIVE · NY

  • MEDISYS IPA

    C · PHYSICIAN CONTRACTING/INACTIVE · NY

  • MEDISYS SERVICE CORPORATION

    C · HOLDING COMPANY · NY

  • MEDISYS VENTURES

    C · HOLDING COMPANY · NY · 100% owned · share of income $35,761,797 · share of assets $33,127,966 · controlled entity

    Directly controlled by MEDISYS HEALTH NETWORK

  • MHN REALTY

    C · REAL ESTATE/INACTIVE · NY

  • SECOND CENTURY SERVICE CORPORATION

    C · RETAIL PHARMACY · NY

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202443199349309724

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