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Nonprofiteer
← FLOATING HOSPITAL INC

Form 990 for tax year 2024

Filed by FLOATING HOSPITAL INC.

Totals

Total revenue
$33,578,866
Total expenses
$35,481,253
Contributions and grants received
$15,341,384
Grants paid
$0
Program service revenue
$18,102,024
Investment income
$117,224
Other revenue
$18,234
Total assets, end of year
$17,021,701
Total liabilities, end of year
$9,261,570
Net assets or fund balances, end of year
$7,760,131
Program services expenses (Part IX)
$31,912,802
Management and general expenses
$3,568,451
Fundraising expenses
$0
Program service expenses (Part III)
$31,912,802

Program services were 89.9% 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.

  • 1e · Government grants (contributions)

    $13,980,396

  • 1f · All other contributions, gifts and grants

    $1,360,988

  • 1g · Noncash contributions included above

    $2,362,559

  • 2a · Program service revenue: MEDICAID

    total $12,597,502 · related or exempt $12,597,502

  • 2b · Program service revenue: PHARMACY REVENUE

    total $2,267,299 · related or exempt $1,507,027 · unrelated business $760,272

  • 2c · Program service revenue: NYRX REINVESTMENT PAYMENT

    total $1,100,039 · related or exempt $1,100,039

  • 2d · Program service revenue: NYS UNCOMPENSATED CARE

    total $696,888 · related or exempt $696,888

  • 2e · Program service revenue: OTHER THIRD PARTY

    total $529,796 · related or exempt $529,796

  • 2f · All other program service revenue

    total $910,500 · related or exempt $910,500

  • 3 · Investment income

    total $69,474 · excluded $69,474

  • 7a · Gross sales of assets other than inventory

    other assets $47,750

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

    other assets $0

  • 7c · Gain or loss

    other assets $47,750

  • 7d · Net gain or loss

    total $47,750 · excluded $47,750

  • 11a · Other revenue: MEDICAL RECORDS

    total $3,490 · related or exempt $3,490

  • 11d · All other revenue

    total $14,744 · related or exempt $14,744

  • 11e · Other revenue, total

    $18,234

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,020,555 · program services $907,012 · management and general $113,543

  • 7 · Other salaries and wages

    total $15,517,860 · program services $13,739,423 · management and general $1,778,437

  • 8 · Pension plan contributions

    total $395,340 · program services $363,230 · management and general $32,110

  • 9 · Other employee benefits

    total $3,012,462 · program services $2,767,790 · management and general $244,672

  • 10 · Payroll taxes

    total $1,556,858 · program services $1,430,410 · management and general $126,448

  • 11b · Fees: legal

    total $84,439 · program services $16,177 · management and general $68,262

  • 11c · Fees: accounting

    total $172,764 · program services $32,460 · management and general $140,304

  • 11d · Fees: lobbying

    total $40,100 · program services $40,100

  • 11g · Fees: other

    total $2,288,609 · program services $2,098,936 · management and general $189,673

  • 12 · Advertising and promotion

    total $17,394 · program services $15,306 · management and general $2,088

  • 13 · Office expenses

    total $267,327 · program services $222,639 · management and general $44,688

  • 16 · Occupancy

    total $973,368 · program services $712,417 · management and general $260,951

  • 17 · Travel

    total $233,254 · program services $226,329 · management and general $6,925

  • 19 · Conferences, conventions and meetings

    total $43,383 · program services $16,418 · management and general $26,965

  • 20 · Interest

    total $116,293 · program services $116,293

  • 22 · Depreciation, depletion and amortization

    total $575,887 · program services $401,489 · management and general $174,398

  • 23 · Insurance

    total $1,307,326 · program services $1,226,857 · management and general $80,469

  • 24a · Other expenses: CONSUMABLE SUPPLIES

    total $5,494,601 · program services $5,479,290 · management and general $15,311

  • 24b · Other expenses: REPAIRS AND MAINTENANCE

    total $690,083 · program services $567,785 · management and general $122,298

  • 24c · Other expenses: DATA PROCESSING

    total $498,091 · program services $468,826 · management and general $29,265

  • 24d · Other expenses: EQUIPMENT RENTAL

    total $97,507 · program services $73,476 · management and general $24,031

  • 24e · All other expenses

    total $1,077,752 · program services $990,139 · management and general $87,613

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $615,300 · end of year $847,058

  • 2 · Savings and temporary cash investments

    beginning of year $17,826 · end of year $26,118

  • 3 · Pledges and grants receivable

    beginning of year $936,074 · end of year $2,656,607

  • 4 · Accounts receivable

    beginning of year $3,020,291 · end of year $1,871,846

  • 7 · Other notes and loans receivable

    beginning of year $4,971,400 · end of year $4,971,400

  • 8 · Inventories for sale or use

    beginning of year $268,454 · end of year $233,649

  • 9 · Prepaid expenses and deferred charges

    beginning of year $86,285 · end of year $107,430

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

    $7,424,107

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

    $5,340,140

  • 10c · Land, buildings and equipment, net

    beginning of year $1,997,864 · end of year $2,083,967

  • 12 · Investments: other securities

    beginning of year $16,856 · end of year $16,856

  • 14 · Intangible assets

    beginning of year $1,844,017 · end of year $1,613,181

  • 15 · Other assets

    beginning of year $2,431,991 · end of year $2,593,589

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,231,979 · end of year $4,058,052

  • 19 · Deferred revenue

    beginning of year $1,256,060 · end of year $911,516

  • 23 · Secured mortgages and notes payable

    beginning of year $549,583 · end of year $1,987,802

  • 25 · Other liabilities

    beginning of year $2,506,218 · end of year $2,304,200

  • 27 · Net assets without donor restrictions

    beginning of year $9,559,706 · end of year $7,657,319

  • 28 · Net assets with donor restrictions

    beginning of year $102,812 · end of year $102,812

Mission and programs · 2024

Mission

THE HOSPITAL IS A FREE STANDING DIAGNOSTIC AND TREATMENT CENTER LICENSED UNDER ARTICLE 28 AND ARTICLE 31 OF THE NYS HEALTH LAW LOCATED IN LONG ISLAND CITY, NY. THE HOSPITAL PROVIDES A BROAD RANGE OF PRIMARY HEALTH CARE SERVICES TO A LARGELY MEDICALLY UNDERSERVED POPULATION. TFH IS ALSO A FEDERALLY QUALIFIED HEALTH CENTER WITH ALL THREE URBAN DESIGNATIONS UNDER SECTION 330.

Activities or mission (Part I)

THE HOSPITAL IS A FREE STANDING DIAGNOSTIC AND TREATMENT CENTER, LICENSED UNDER ARTICLE 28 AND ARTICLE 31 OF THE NYS HEALTH LAW, LOCATED IN LONG ISLAND CITY, NY. THE HOSPITAL PROVIDES A BROAD RANGE OF PRIMARY HEALTH CARE SERVICES TO A LARGELY MEDICALLY UNDERSERVED POPULATION. THF IS ALSO A FEDERALLY QUALIFIED HEALTH CENTER WITH ALL THREE URBAN DESIGNATIONS UNDER SECTION 330.

  • THE FLOATING HOSPITAL IS A LEGACY ORGANIZATION IN NYC, FOUNDED IN 1866, THAT PROVIDES CARE IN THE FORM OF TRADITIONAL HEALTHCARE, HEALTH EDUCATION, AND RELIEF (THE DISTRIBUTION OF FOOD, CLOTHES, AND HYGIENE PRODUCTS) TO THE POOREST FAMILIES. IN ADDITION, IT OPERATES CAMPS, INTERNSHIPS AND LIFE SKILLS PROGRAMS TO HELP DISRUPT THE CYCLE OF POVERTY THAT ENGULFS THOSE FAMILIES MOST AT RISK. IT IS THE LARGEST PROVIDER OF SUCH CARE TO BOTH THE CITY'S HOMELESS FAMILY, AS WELL AS THE DV SAFE HOUSE, POPULATIONS. A SIGNIFICANT PORTION OF ITS WORK IS NOT FUNDED BY GOVERNMENT INSURANCE OR OTHER GOVERNMENT-BASED FUNDING.

    Expenses $12,791,637 · Revenue $8,679,993

  • IN ADDITION TO ITS HOMELESS FAMILY PROGRAMMING, THE HOSPITAL IS THE PRIMARY HEALTHCARE PROVIDER TO THOSE LIVING IN THE QUEENSBRIDGE/RAVENSWOOD HOUSES, THE LARGEST PUBLIC HOUSING COMPLEX IN NORTH AMERICA. THERE, IT PROVIDES SIMILAR CARE AND SERVICES TO THOSE IN THE HOMELESS FAMILY PROGRAMS.

    Expenses $12,791,636 · Revenue $8,679,993

  • ACS MEDICAL AND DENTAL PROGRAM - TFH IS THE MEDICAL PROVIDER TO THE NYC ADMINISTRATION FOR CHILDREN'S SERVICES, WHICH HANDLES ALL ASPECTS OF YOUTH UNASSOCIATED WITH A SPECIFIC HOME LIFE AT A PARTICULAR TIME, I.E., FOSTER CHILDREN (BOTH TEMPORARY AND PERMANENT), DETAINED YOUTH, ETC. TFH PROVIDES HEALTH CARE AND HEALTH EDUCATION TO THIS MEDICALLY FRAGILE AND INNER-CITY AT-RISK POPULATION AT SITES IN THE BRONX AND BROOKLYN.

    Expenses $6,329,529

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • ALLISON SOKARIS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ANTHONY BROWNIE

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • BARBARA LINDER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • CAROL JACKSON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • DAVID KOCHANOWSKY

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • DOMINICK DELORENZO

    CHAIR OF BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • HAYWARD GILL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • THE HONORABLE CAROLYN MALONEY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • KHADIJAH WATKINS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MADELINE NAEGLE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MARY SUE RICHARDSON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MATT BARBA

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL GEORGE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • PRISCILLA BAYLEY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • REGINA JASLOW

    OUTGOING VICE CHAIR & TREASURER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • GLORIA CARNEY JACKSON

    EXECUTIVE VICE PRESIDENT O

    Total calculated
    $195,029
    From this org
    $180,024
    From related orgs
    $0
    Other
    $15,005
    Hours/week
    30 + 5 related

    Schedule J breakdown matched by us

    Base
    $180,024
    Bonus
    $0
    Other
    $0
    Deferred
    $7,392
    Nontaxable benefits
    $7,613
    Filer's total
    $195,029

  • SEAN T GRANAHAN

    PRESIDENT/GENERAL COUNSEL

    Total calculated
    $259,083
    From this org
    $229,570
    From related orgs
    $0
    Other
    $29,513
    Hours/week
    30 + 5 related

    Schedule J breakdown matched by us

    Base
    $229,570
    Bonus
    $0
    Other
    $0
    Deferred
    $10,548
    Nontaxable benefits
    $18,965
    Filer's total
    $259,083

  • PHILIP LAROCCO

    VP OF HUMAN RESOURCES

    Total calculated
    $199,865
    From this org
    $157,400
    From related orgs
    $0
    Other
    $42,465
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $157,400
    Bonus
    $0
    Other
    $0
    Deferred
    $661
    Nontaxable benefits
    $41,804
    Filer's total
    $199,865

  • SHANI ANDRE MD

    EXCEUTIVE VP/CMO

    Total calculated
    $366,578
    From this org
    $351,154
    From related orgs
    $0
    Other
    $15,424
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $351,154
    Bonus
    $0
    Other
    $0
    Deferred
    $14,046
    Nontaxable benefits
    $1,378
    Filer's total
    $366,578

  • JONATHAN ZIMMERMAN

    PHYSICIAN

    Total calculated
    $289,345
    From this org
    $287,967
    From related orgs
    $0
    Other
    $1,378
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $287,967
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $1,378
    Filer's total
    $289,345

  • KIM HENEGHAN

    PHYSCIAN ASSISTANT

    Total calculated
    $252,515
    From this org
    $229,709
    From related orgs
    $0
    Other
    $22,806
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $158,869
    Bonus
    $70,840
    Other
    $0
    Deferred
    $9,220
    Nontaxable benefits
    $13,586
    Filer's total
    $252,515

  • MARK SETHNA

    MEDICAL DIRECTOR

    Total calculated
    $243,245
    From this org
    $219,335
    From related orgs
    $0
    Other
    $23,910
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $204,155
    Bonus
    $15,180
    Other
    $0
    Deferred
    $8,845
    Nontaxable benefits
    $15,065
    Filer's total
    $243,245

  • OTUODICHINMA NWANKPA

    FAMILY NURSE PRACTITIONER

    Total calculated
    $256,053
    From this org
    $214,835
    From related orgs
    $0
    Other
    $41,218
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $214,835
    Bonus
    $0
    Other
    $0
    Deferred
    $8,656
    Nontaxable benefits
    $32,562
    Filer's total
    $256,053

  • SHARI POTTER

    PHYSICIAN ASSISTANT

    Total calculated
    $283,969
    From this org
    $239,975
    From related orgs
    $0
    Other
    $43,994
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $239,975
    Bonus
    $0
    Other
    $0
    Deferred
    $9,725
    Nontaxable benefits
    $34,269
    Filer's total
    $283,969

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 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 7
INCLUDED ON SCHEDULE J, PART II, COLUMN B(II) ARE AMOUNTS REPRESENTS PERFORMANCE INCENTIVES. THESE AMOUNTS WERE INCLUDED IN THE INDIVIDUALS W-2S AND APPROVED BY THE BOARD.

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.

Provenance

Return type
form_990
Tax year
2024
Filed
14 November 2025
IRS schema version
2024v5.2
Source object
202533169349304378

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