Vital Healthcare Capital
- Assets
- $23.2m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 8
- Location
- New York, NY
- Founding
- 03/2014
- Data as of
- 12/2022
- EIN
- 45-4014553
Organization Overview
Vital Healthcare Capital is located in New York, NY. The organization was established in 2014. According to its NTEE Classification (E99) the organization is classified as: Health Care N.E.C., under the broad grouping of Health Care and related organizations. As of 12/2022, Vital Healthcare Capital employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vital Healthcare Capital is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Vital Healthcare Capital generated $2.4m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.9%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
VITAL HEALTHCARE CAPITAL ("V-CAP") WAS INCORPORATED IN WASHINGTON, D.C. DURING NOVEMBER 2011. V-CAP IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) SUPPORTING QUALITY CARE AND GOOD HEALTHCARE JOBS IN LOW-INCOME AND HISTORICALLY DISADVANTAGED COMMUNITIES THROUGH ADVANTAGEOUS FINANCING, STRONG COMMUNITY PARTNERSHIPS, AND ADVOCACY FOR HEALTH ACCESS AND EQUITY. V-CAP FINANCES COMMUNITY-BASED HEALTHCARE ORGANIZATIONS INCLUDING COMMUNITY HEALTH CENTERS, BEHAVIORAL HEALTH PROVIDERS, PROVIDERS OF INTEGRATED OR SPECIALTY CARE, AND OTHER PROJECTS SUBSTANTIALLY IMPACTING COMMUNITY HEALTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
V-CAP IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) SUPPORTING QUALITY CARE AND GOOD HEALTHCARE JOBS IN LOW-INCOME AND HISTORICALLY DISADVANTAGED COMMUNITIES THROUGH ADVANTAGEOUS FINANCING, STRONG COMMUNITY PARTNERSHIPS, AND ADVOCACY FOR HEALTH ACCESS AND EQUITY. V-CAP FINANCES COMMUNITY-BASED HEALTHCARE ORGANIZATIONS INCLUDING COMMUNITY HEALTH CENTERS, BEHAVIORAL HEALTH PROVIDERS, PROVIDERS OF INTEGRATED OR SPECIALTY CARE, AND OTHER PROJECTS SUBSTANTIALLY IMPACTING COMMUNITY HEALTH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Abbey Nyamekye Director | Trustee | 2 | $0 |
Cindy Willard Director | Trustee | 2 | $0 |
Deborah Bachrach Secretary | OfficerTrustee | 2 | $0 |
Frances Padilla Director | Trustee | 2 | $0 |
Howard Rifkin Chairman Of The Board | OfficerTrustee | 2 | $0 |
Louis Giraudo Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,915,769 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,915,769 |
| Total Program Service Revenue | $435,155 |
| Investment income | $7,195 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,358,119 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $238,929 |
| Compensation of current officers, directors, key employees. | $55,730 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $266,473 |
| Pension plan accruals and contributions | $11,833 |
| Other employee benefits | $34,729 |
| Payroll taxes | $35,805 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,400 |
| Fees for services: Accounting | $51,095 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $221,060 |
| Advertising and promotion | $0 |
| Office expenses | $17,188 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $38,490 |
| Travel | $5,204 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $114,723 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $23,405 |
| Insurance | $38,871 |
| All other expenses | $0 |
| Total functional expenses | $1,232,406 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $8,506,047 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $12,413,984 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $25,002 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,070,921 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $208,100 |
| Total assets | $23,224,054 |
| Accounts payable and accrued expenses | $55,649 |
| Grants payable | $0 |
| Deferred revenue | $65,455 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $5,232,788 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $283,764 |
| Total liabilities | $5,637,656 |
| Net assets without donor restrictions | $17,586,398 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $23,224,054 |