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Nonprofiteer
← HUDSON VALLEY CARDIOVASCULAR PRACTICE PC

Form 990 for tax year 2024

Filed by HUDSON VALLEY CARDIOVASCULAR PRACTICE PC.

Totals

Total revenue
$73,329,658
Total expenses
$72,804,931
Contributions and grants received
$0
Grants paid
$0
Program services expenses (Part IX)
$71,697,122
Management and general expenses
$1,107,809
Fundraising expenses
$0
Program service expenses (Part III)
$71,697,122

Program services were 98.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • CHRISTOPHER M LEHRACH MD

    PRESIDENT/CHIEF PHYSICIAN EXECUTIVE

    Total calculated
    $1,430,227
    From this org
    $0
    From related orgs
    $1,361,813
    Other
    $68,414
    Hours/week
    0 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $696,799 related
    Bonus
    $0 + $530,385 related
    Other
    $0 + $134,629 related
    Deferred
    $0 + $20,700 related
    Nontaxable benefits
    $0 + $47,714 related
    Filer's total
    $0 + $1,430,227 related

  • DANIEL DEBARBA

    CHIEF FINANCIAL OFFICER; TREASURER

    Total calculated
    $2,336,530
    From this org
    $0
    From related orgs
    $2,147,602
    Other
    $188,928
    Hours/week
    0 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $840,166 related
    Bonus
    $0 + $1,231,547 related
    Other
    $0 + $75,889 related
    Deferred
    $0 + $159,180 related
    Nontaxable benefits
    $0 + $29,748 related
    Filer's total
    $0 + $2,336,530 related

  • KELLI STOCK

    VP HEART & VASCULAR INSTITUTE

    Total calculated
    $454,916
    From this org
    $0
    From related orgs
    $417,774
    Other
    $37,142
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $0 + $315,470 related
    Bonus
    $0 + $100,000 related
    Other
    $0 + $2,304 related
    Deferred
    $0 + $20,700 related
    Nontaxable benefits
    $0 + $16,442 related
    Filer's total
    $0 + $454,916 related

  • MARK K WARSHOFSKY MD

    SVP & SYS. CHAIR HEART & VASC. INST.

    Total calculated
    $1,199,946
    From this org
    $0
    From related orgs
    $1,139,295
    Other
    $60,651
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $0 + $850,198 related
    Bonus
    $0 + $275,000 related
    Other
    $0 + $14,097 related
    Deferred
    $0 + $20,700 related
    Nontaxable benefits
    $0 + $39,951 related
    Filer's total
    $0 + $1,199,946 related

  • ALI HAMMOUD MD

    PHYSICIAN CLINICAL

    Total calculated
    $1,338,137
    From this org
    $1,285,863
    From related orgs
    $0
    Other
    $52,274
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,202,863
    Bonus
    $60,000
    Other
    $23,000
    Deferred
    $20,700
    Nontaxable benefits
    $31,574
    Filer's total
    $1,338,137

  • ANTHONY J PATRELLO MD

    PHYSICIAN INTERVENTIONAL

    Total calculated
    $1,376,889
    From this org
    $1,308,938
    From related orgs
    $0
    Other
    $67,951
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,262,858
    Bonus
    $45,000
    Other
    $1,080
    Deferred
    $20,700
    Nontaxable benefits
    $47,251
    Filer's total
    $1,376,889

  • JOSEPH W CHRISTIANA MD

    PHYSICIAN- CLINICAL

    Total calculated
    $1,395,312
    From this org
    $1,342,805
    From related orgs
    $0
    Other
    $52,507
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,250,339
    Bonus
    $60,000
    Other
    $32,466
    Deferred
    $20,700
    Nontaxable benefits
    $31,807
    Filer's total
    $1,395,312

  • M ZUBAIR JAFAR MD

    PHYSICIAN INTERVENTIONAL

    Total calculated
    $1,335,496
    From this org
    $1,265,020
    From related orgs
    $0
    Other
    $70,476
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,212,912
    Bonus
    $45,000
    Other
    $7,108
    Deferred
    $20,700
    Nontaxable benefits
    $49,776
    Filer's total
    $1,335,496

  • RAJEEV L NARAYAN MD

    PHYSICIAN INTERVENTIONAL

    Total calculated
    $1,355,592
    From this org
    $1,285,795
    From related orgs
    $0
    Other
    $69,797
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,216,535
    Bonus
    $45,000
    Other
    $24,260
    Deferred
    $20,700
    Nontaxable benefits
    $49,097
    Filer's total
    $1,355,592

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 — 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

  • 1a · Tax indemnification and gross-up payments
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 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 1A TAX INDEMNIFICATION AND GROSS-UP PAYMENTS
FOR THE FOLLOWING BENEFITS REPORTED IN PART VII INCLUDES GROSS-UP PAYMENTS FOR A TAXABLE TRAVEL STIPEND AND/OR EMPLOYEE RECOGNITION PROGRAM AWARD: 1 HIGHEST-COMPENSATED EMPLOYEE
SCHEDULE J, PART I, LINE 3 ARRANGEMENT USED TO ESTABLISH THE TOP MANAGEMENT OFFICIAL'S COMPENSATION
HUDSON VALLEY CARDIOVASCULAR PRACTICE, PC (HVCP) RELIED ON NUVANCE HEALTH, A RELATED TAX-EXEMPT ORGANIZATION, TO APPROVE AND DETERMINE COMPENSATION FOR THE CEO AND TOP MANAGEMENT, WHICH USED A COMPENSATION COMMITTEE, AN INDEPENDENT COMPENSATION CONSULTANT, WRITTEN EMPLOYMENT CONTRACTS, COMPENSATION SURVEY OR STUDY AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE TO GATHER COMPARABLE DATA ON OTHER KEY EMPLOYEES.
SCHEDULE J, PART I, LINE 4B SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN
EFFECTIVE OCTOBER 1, 2020, NUVANCE HEALTH ESTABLISHED AN EXECUTIVE RETIREMENT PLAN IN ORDER TO PROVIDE NONQUALIFIED DEFINED CONTRIBUTION RETIREMENT BENEFITS TO DESIGNATED KEY MEMBERS OF ITS EXECUTIVE MANAGEMENT TEAM, SELECTED BY THE EXECUTIVE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS. ONLY EXECUTIVES OCCUPYING DESIGNATED TIER 1 OR TIER 2 EXECUTIVE POSITIONS ARE ELIGIBLE TO PARTICIPATE IN THE PLAN. THE PLAN IS INTENDED TO COMPLY WITH SECTION 457(F) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. IN CALENDAR YEAR 2024, THE FOLLOWING AMOUNTS EARNED BY THE PARTICIPANTS ARE REPORTED ON SCHEDULE J, PART II, COLUMN (C) RETIREMENT AND OTHER DEFERRED COMPENSATION: DANIEL DEBARBA - $138,480 FOR CALENDAR YEAR 2024, THE FOLLOWING AMOUNTS EARNED AND PAID TO THE PARTICIPANTS WERE REPORTED ON SCHEDULE J, PART II, COLUMN B(III) OTHER REPORTABLE COMPENSATION: CHRISTOPHER LEHRACH, MD - $103,620 DANIEL DEBARBA - $32,749
SCHEDULE J, PART I, LINE 7 NON-FIXED PAYMENTS
NUVANCE HEALTH ANNUAL LEADERSHIP INCENTIVE PLAN (ALIP)(EXCERPTS FROM) THE PURPOSE OF THE NUVANCE HEALTH ANNUAL LEADERSHIP INCENTIVE PLAN ("PLAN") IS TO ENGAGE AND MOTIVATE THE ORGANIZATION'S LEADERS TO FURTHER THE CHARITABLE MISSION OF NUVANCE HEALTH, AND ITS AFFILIATES AND SUBSIDIARIES, BY PROMOTING EFFECTIVE MANAGEMENT OF OPERATIONS, DELIVERY OF HIGH-QUALITY CARE AND SERVICE, AND RESPONSIBLE USE OF RESOURCES TO MEET COMMUNITY NEEDS. THE PLAN IS INTENDED TO ASSIST NUVANCE HEALTH, AND ITS AFFILIATES AND SUBSIDIARIES TO ATTRACT AND RETAIN LEADERSHIP WITH THE TALENT AND EXPERIENCE NEEDED TO BE SUCCESSFUL BY PROVIDING MEANINGFUL INCENTIVES AND REWARDS FOR OUTSTANDING PERFORMANCE. INDIVIDUALS MUST BE AN ELIGIBLE EMPLOYEE TO BE CONSIDERED AS A PARTICIPANT IN THIS PLAN. AN ELIGIBLE EMPLOYEE IS AN INDIVIDUAL EMPLOYED BY NUVANCE HEALTH AND HOLDS A POSITION ASSIGNED TO ONE OF THE FOLLOWING TIERS, AS OF APRIL 30TH OF THE PLAN YEAR; - TIER I, PRESIDENT, CEO, SENIOR EXECUTIVE - TIER II, EXECUTIVE - TIER II, PHYSICIAN EXECUTIVES (B) - TIER III, SENIOR LEADER (A) - TIER III, SENIOR LEADER (B) - TIER IV, LEADER (A) ORGANIZATIONAL GOALS ARE GENERALLY BASED ON THE FOLLOWING CATEGORIES AND ARE WEIGHTED THROUGH A SPLIT BETWEEN ORGANIZATIONAL AND INDIVIDUAL: - QUALITY AND SERVICE - PEOPLE AND CULTURE - PATIENT EXPERIENCE - FINANCIAL STRENGTH EACH PLAN YEAR, THE EXECUTIVE COMPENSATION COMMITTEE OF THE BOARD ("THE COMMITTEE"), IN ITS SOLE DISCRETION AND UNLESS OTHERWISE APPROPRIATELY DELEGATED, SELECTS PARTICIPANTS FROM A LIST OF ELIGIBLE EMPLOYEES NOMINATED BY THE CEO. THE CEO, EX OFFICIO, IS AN ELIGIBLE EMPLOYEE FOR PURPOSES OF SELECTION TO PARTICIPATE IN THE PLAN. EACH PLAN YEAR, THE COMMITTEE, BASED ON INPUT FROM THE CEO, MAY ESTABLISH A THRESHOLD AWARD, A TARGET AWARD AND/OR A MAXIMUM AWARD FOR EACH PARTICIPANT. AWARD OPPORTUNITIES ARE ESTABLISHED BASED ON COMPETITIVE MARKET PRACTICES AND ON NUVANCE HEALTH'S COMPENSATION PHILOSOPHY. AWARD OPPORTUNITIES MAY BE BASED ON ADDITIONAL FACTORS, INCLUDING NUVANCE HEALTH'S FINANCIAL AND OPERATIONAL PERFORMANCE, REFLECTING MARKET PAY PRACTICES AND BENCHMARKING FOR COMPARABLE POSITIONS, AND ANY OTHER FACTORS DEEMED RELEVANT BY THE COMMITTEE. EACH PLAN YEAR, THE COMMITTEE, AND UNLESS OTHERWISE APPROPRIATELY DELEGATED FOR ANY PLAN YEAR, SHALL ESTABLISH PERFORMANCE GOALS TO EVALUATE THE PERFORMANCE OF EACH PARTICIPANT. AFTER COMPLETION OF EACH PLAN YEAR, THE COMMITTEE MAY EVALUATE WHETHER THE PERFORMANCE OF NUVANCE HEALTH AND PARTICIPANT MEETS OR EXCEEDS THE PERFORMANCE GOALS ESTABLISHED FOR THE PLAN YEAR. IF PERFORMANCE WARRANTS, THE COMMITTEE MAY APPROVE A FINAL AWARD AMOUNT FOR EACH PARTICIPANT AND APPROVE ANY ADDITIONAL CONDITION ON PAYMENT OF THE AWARD. NUVANCE HEALTH EXECUTIVE LONG TERM INCENTIVE PLAN (EXCERPTS FROM) ONLY EXECUTIVES OCCUPYING DESIGNATED TIER 1 AND SELECT TIER II EXECUTIVE POSITIONS SHALL BE ELIGIBLE EMPLOYEES TO PARTICIPATE IN THE PLAN. UNDER THE PLAN, PARTICIPANTS WILL BE ELIGIBLE TO RECEIVE INCENTIVE AWARD PAYMENTS BASED UPON THE ACHIEVEMENT OF SELECTED AND STRATEGICALLY IMPORTANT PERFORMANCE GOALS IDENTIFIED FOR EACH PERFORMANCE PERIOD. THE AWARD OPPORTUNITIES FOR AN ELIGIBLE EMPLOYEE WITH RESPECT TO A PERFORMANCE PERIOD SHALL BE EXPRESSED AS A PERCENTAGE OF HIS OR HER AVERAGE BASE SALARY IN EFFECT DURING THE APPLICABLE PERFORMANCE PERIOD. PRIOR TO THE BEGINNING OF EACH PERFORMANCE PERIOD, THE COMMITTEE MAY ESTABLISH A MINIMUM PERFORMANCE REQUIREMENT FOR NUVANCE HEALTH. NO FINAL AWARDS MAY BE GRANTED TO ANY PARTICIPANT FOR A PERFORMANCE PERIOD IN WHICH MINIMUM PERFORMANCE REQUIRMENTS, IF ANY, WERE NOT MET. THE FINAL AWARD PAYABLE TO EACH PARTICIPANT WILL BE DETERMINED WITHIN 60 DAYS FOLLOWING THE END OF THE PERFORMANCE PERIOD. AWARDS FOR A GIVEN PERFORMANCE PERIOD WILL BE PAID IN A SINGLE LUMP-SUM ON THE PAYMENT DATE PROVIDED HOWEVER, THAT NO PAYMENT WILL BE MADE UNTIL THE RESULTS ARE VERIFIED AND AUDITED. HV CARDIO PHYSICIANS ARE ELIGIBLE TO PARTICIPATE IN A PRODUCTION AND VALUE BASED INCENTIVE PLAN. HV CARDIO SETS WRVU PRODUCTION TARGETS AND VALUE BASED METRICS ANNUALLY FOR EACH PHYSICIAN IN THE INCENTIVE PLAN. PHYSICIANS WHO'S ANNUAL PRODUCTION EXCEEDS WRVU TARGETS ESTABLISHED ARE ELIGIBLE TO ACCRUE INCENTIVE COMPENSATION AT A FIXED RATE PER WRVU FOR EACH WRVU IN EXCESS OF THEIR TARGET. INCENTIVE COMPENSATION IS PAID SEMI-ANNUALLY ONCE APPROVALS ARE OBTAINED FROM THE PHYSICIANS MEDICAL DIRECTOR AND CHAIRMAN.

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.

Provenance

Return type
form_990
Tax year
2024
IRS schema version
2024v5.1
Source object
202642249349301044

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