Vital Healthcare Capital
- Assets
- $25.2m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 4
- Location
- New York, NY
- Founding
- 03/2014
- Data as of
- 12/2021
- 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 12/2021, Vital Healthcare Capital employed 4 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 12/2021, Vital Healthcare Capital generated $1.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.5%) each year. All expenses for the organization totaled $981.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.1%) per year over the past 7 years. 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
2021
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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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Weingarten Chief Executive Officer | Officer | 40 | $195,556 |
Jill Scovanner Director Of Health Investment | 40 | $117,177 | |
Kenneth Gruber Chief Financial Officer | Officer | 8 | $40,950 |
Howard Rifkin Chairman Of The Board | OfficerTrustee | 2 | $0 |
Deborah Bachrach Secretary | OfficerTrustee | 2 | $0 |
Martin Eakes Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $178,318 |
| All other contributions, gifts, grants, and similar amounts not included above | $775,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $953,318 |
| Total Program Service Revenue | $647,111 |
| Investment income | $4,553 |
| 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 | $1,604,982 |
| 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. | $262,320 |
| Compensation of current officers, directors, key employees. | $86,862 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $197,364 |
| Pension plan accruals and contributions | $9,927 |
| Other employee benefits | $21,995 |
| Payroll taxes | $34,859 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,681 |
| Fees for services: Accounting | $25,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $152,632 |
| Advertising and promotion | $0 |
| Office expenses | $10,167 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $31,410 |
| Travel | $490 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $127,376 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,928 |
| Insurance | $41,368 |
| All other expenses | $0 |
| Total functional expenses | $981,035 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $14,319,796 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $46,204 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $10,652,979 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $21,167 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $179,125 |
| Total assets | $25,219,271 |
| Accounts payable and accrued expenses | $27,989 |
| Grants payable | $0 |
| Deferred revenue | $70,462 |
| 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 | $6,471,638 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,199,483 |
| Total liabilities | $8,769,572 |
| Net assets without donor restrictions | $16,449,699 |
| 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 | $25,219,271 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Vital Healthcare Capital has recieved totaling $775,000.
| Awarding Organization | Amount |
|---|---|
Alphadyne Foundation New York, NY PURPOSE: COMMUNITY DEEVELOPMENT FINANCIAL INSTITUTION TO BRING NEW APPROACHES TO COMMUNITY FINANCE IN THE CONTEXT OF HEALTHCARE REFORM, TO PROVIDE FLEXIBLE FINANCING AND TARGETED DEVELOPMENT SERVICES TO CATALYZE QUALITY CARE AND GOOD HEALTHCARE JOBS IN LOW INCOME COMMUNITIES | $625,000 |
Opportunity Finance Network Philadelphia, PA PURPOSE: FINANCE JUSTICE FUND SUBGRANT | $150,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Temple Physicians Inc Philadelphia, PA | $32,827,078 | $80,029,343 |
Finger Lakes Performing Provider System Inc Rochester, NY | $41,997,931 | $67,997,644 |
Holyoke Health Center Inc Holyoke, MA | $37,042,548 | $55,169,928 |
Depaul Adult Care Communties Inc Rochester, NY | $12,844,666 | $48,377,747 |
Federation Of Organizations For The New York State Mentally Disabled West Babylon, NY | $34,800,632 | $51,638,775 |
Long Island Jewish Medical Center At Home Pharmacy Inc Westbury, NY | $5,530,043 | $43,997,615 |
Western New York Independent Living Inc Buffalo, NY | $29,215,885 | $46,881,599 |
Health Federation Of Philadelphia Philadelphia, PA | $18,351,110 | $41,791,030 |
Mcauley-Seton Home Care Inc Buffalo, NY | $77,262,995 | $46,063,677 |
Community Catalyst Inc Boston, MA | $56,345,662 | $63,488,267 |
Community Health Care Inc Bridgeton, NJ | $93,335,050 | $53,828,439 |
Best Choice Home Health Care Inc Flushing, NY | $12,215,789 | $31,841,732 |