Hudson East River Systems Llc
- Assets
- $7.4b
- Revenue
- $135.3m
- Investments
- $4.1b
- Employees
- 0
- Location
- New York, NY
- Founding
- 10/2017
- Data as of
- 12/2019
- EIN
- 82-2253311
Organization Overview
Hudson East River Systems Llc is located in New York, NY. The organization was established in 2017. According to its NTEE Classification (E12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 12/2019, Hudson East River Systems Llc generated $135.3m in total revenue. All expenses for the organization totaled $8.8m during the year ending 12/2019. While expenses have increased by 26.4% per year over the past 2 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
TO RECEIVE, HOLD, MANAGE AND INVEST THE NON-ERISA INVESTMENT ASSETS OF THE COMPANYS MEMBERS AND TO SUPPORT THE DELIVERY OF HEALTH CARE TO THE PUBLIC BY ITS SUPPORT OF THE MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
RECEIVE, HOLD, MANAGE AND INVEST THE NON-ERISA INVESTMENT ASSETS OF THE COMPANY'S MEMBERS AND TO SUPPORT THE DELIVERY OF HEALTH CARE TO THE PUBLIC BY ITS SUPPORT OF THE COMPANY'S MEMBERS AND TO CONDUCT ANY OTHER ACTIVITIES THAT MAY BE NECESSARY, USEFUL, OR DESIRABLE FOR THE FURTHERANCE OR ACCOMPLISHMENT OF THE FOREGOING PURPOSES, PROVIDED THOSE ACTIVITIES WOULD NOT ENDANGER THE COMPANY'S TAX EXEMPT STATUS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Breslin President | Officer | 0.5 | $0 |
William J Farrell Treasurer | Officer | 0.5 | $0 |
William Lee Chief Investment Officer | Officer | 2 | $0 |
Richard Einwechter Assistant Treasurer | Officer | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Payden Rygel Investment Managemen Investment Managem't | 12/30/19 | $906,669 |
Marathon Asset Management Llp Investment Managem't | 12/30/19 | $759,968 |
Independent Franchise Partners Llp Investment Managem't | 12/30/19 | $1,186,639 |
Longview Partners Assets Management Investment Managem't | 12/30/19 | $773,072 |
Steadfast Financial Lp Investment Managem't | 12/30/19 | $839,150 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $87,975,359 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $47,301,936 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $135,277,295 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| 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 | $8,818,426 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $8,818,426 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $589,488,705 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,680,064,381 |
| Investments—other securities | $4,094,523,379 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,364,076,465 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Other liabilities | $7,364,076,465 |
| Total liabilities | $7,364,076,465 |
| Net assets without donor restrictions | $0 |
| 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 | $7,364,076,465 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
United Breast Cancer Foundation Inc Huntington, NY | $6,322,991 | $15,288,108 |
Newcourtland Elder Service Philadelphia, PA | $113,919,337 | $4,650,021 |
Doylestown Health Foundation Doylestown, PA | $88,236,207 | $10,269,180 |
Foundation For Morristown Medical Center Inc Morristown, NJ | $160,123,203 | $28,655,949 |
The Childrens Health Fund New York, NY | $9,511,799 | $11,375,056 |
Hudson East River Systems Llc New York, NY | $7,364,076,465 | $135,277,295 |
Ecmc Foundation Inc Buffalo, NY | $13,441,438 | $5,063,551 |
New York Hospital Cornell Medical Center Fund Inc New York, NY | $181,712,632 | $6,775,017 |
Templeton Foundation Cooperstown, NY | $45,610,084 | $7,264,422 |
Northeast Health Foundation Inc Albany, NY | $18,476,793 | $5,766,244 |
Tufts Health Plan Foundation Inc Watertown, MA | $107,159,016 | $7,885,480 |
York Health Foundation York, PA | $9,770,241 | $5,742,819 |