Hamaspik Choice Inc
- Assets
- $39.0m
- Revenue
- $117.0m
- Investments
- $0.0
- Employees
- 146
- Location
- Monsey, NY
- Founding
- 08/2013
- Data as of
- 12/2019
- EIN
- 45-4781328
Organization Overview
Hamaspik Choice Inc is located in Monsey, NY. The organization was established in 2013. According to its NTEE Classification (E92) the organization is classified as: Home Health Care, under the broad grouping of Health Care and related organizations. As of 12/2019, Hamaspik Choice Inc employed 146 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 12/2019, Hamaspik Choice Inc generated $117.0m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 25.5% each year . All expenses for the organization totaled $123.8m during the year ending 12/2019. While expenses have increased by 28.3% per year over the past 5 years. They've been increasing with an increasing level of total revenue. 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
WE ARE COMMITTED TO OPTIMIZING OUR MEMBERS' QUALITY OF LIFE BY COORDINATING AND PROVIDING LONG TERM SUPPORTS AND SERVICES, AND BY RESPONDING PROMPTLY TO OUR MEMBERS' NEEDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HAMASPIK CHOICE IS A MANAGED LONG TERM CARE PLAN THAT PROVIDES ELIGIBLE MEMBERS WITH HEALTHCARE-RELATED PRODUCTS AND SERVICES, ON A PARTIALLY CAPITATED BASIS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Yoel Bernath Executive Director | Officer | 40 | $499,361 |
Hammad Rizvi Chief Medical Officer | 25 | $286,055 | |
Chaya Back Vice President Of Strategy Nad Innovation | Officer | 40 | $215,261 |
Vaishali Patel Director Of Um | 40 | $179,120 | |
Joshua Weiss Vice President Of Network Development And Fiscal | Officer | 38 | $166,161 |
Alex Lowy Director Of Office Operations And Systems | 38 | $164,501 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Community Home Health Care Medical And Health Care | 12/30/19 | $14,822,075 |
Any-time Home Care Medical And Health Care | 12/30/19 | $4,780,559 |
Hamaspik Care Inc Medical And Health Care | 12/30/19 | $6,474,704 |
Marquis Home Care Llc Medical And Health Care | 12/30/19 | $5,222,364 |
Unlimited Health Care Inc Medical And Health Care | 12/30/19 | $9,171,195 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,562,808 |
| 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 | $1,562,808 |
| Total Program Service Revenue | $115,479,431 |
| Investment income | $0 |
| 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 | $117,042,239 |
| 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. | $988,941 |
| Compensation of current officers, directors, key employees. | $988,941 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,736,705 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,617,395 |
| Payroll taxes | $0 |
| Fees for services: Management | $229,608 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $109,046,172 |
| Advertising and promotion | $0 |
| Office expenses | $1,084,461 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $345,946 |
| Travel | $114,808 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $197,687 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $912,771 |
| Insurance | $28,192 |
| All other expenses | $105,574 |
| Total functional expenses | $123,825,377 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $25,369,016 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,004,469 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $453,302 |
| Net Land, buildings, and equipment | $3,167,781 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,023,112 |
| Total assets | $39,017,680 |
| Accounts payable and accrued expenses | $18,471,128 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $3,700,000 |
| Other liabilities | $2,236,940 |
| Total liabilities | $24,408,068 |
| Net assets without donor restrictions | $14,609,612 |
| 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 | $39,017,680 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Elderserve Health Inc Bronx, NY | $219,261,791 | $943,724,186 |
Visiting Nurse Association Of Central New York Inc Syracuse, NY | $85,782,659 | $546,254,448 |
Visiting Nurse Service Of New York Home Care Ii New York, NY | $69,547,265 | $241,945,833 |
Chinese-American Planning Council Home Attendant Program Inc New York, NY | $78,924,011 | $201,420,671 |
Hartford Healthcare At Home Inc Wethersfield, CT | $108,238,472 | $131,819,503 |
Hamaspik Choice Inc Monsey, NY | $39,017,680 | $117,042,239 |
Community Health Aide Services Inc Montebello, NY | $15,428,811 | $98,473,658 |
Bayada Moorestown, NJ | $18,180,506 | $18,069,243 |
Wellspan Specialty Services York, PA | $85,216,385 | $93,901,214 |
Genesee Region Home Care Association Inc Rochester, NY | $49,693,701 | $86,759,784 |
Visiting Nursing Association Of Western New York Inc Cheektowaga, NY | $57,764,154 | $106,050,847 |
Mercy Home Health Springfield, PA | $13,173,168 | $93,547,410 |