CHILDREN'S MEDICAL FUND OF NEW YORK

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1963

Legal Domicile

Principal Officer

DAVID BLUMENFELD

Phone

5166241971

Tax Period

2023-01-01 to 2023-12-31

CHILDREN'S MEDICAL FUND OF NEW YORK, founded in 1963, is a small nonprofit in the Health Care sector that reported $625K in total revenue in fiscal year 2023. Revenue fell 36% from the prior year — a significant decline worth monitoring. Expenses of $973K exceeded revenue, resulting in a 56% operating deficit.

Mission

THE ORGANIZATION RAISES FUNDS TO SUPPORT THE PROGRAMS OF THE COHEN CHILDREN'S MEDICAL CENTER OF NEW YORK.

Program Service Accomplishments

Program 1

Expenses: $665,190

CHILD LIFE PROGRAM - THESE PROGRAM SERVICES CONSIST OF TRANSFERS OF FUNDS FROM THE ORGANIZATION TO BENEFIT PROGRAMS AT THE COHEN CHILDREN'S MEDICAL CENTER OF NY (CCMC) INCLUDING: SUPPORT FOR THE...

CHILD LIFE PROGRAM - THESE PROGRAM SERVICES CONSIST OF TRANSFERS OF FUNDS FROM THE ORGANIZATION TO BENEFIT PROGRAMS AT THE COHEN CHILDREN'S MEDICAL CENTER OF NY (CCMC) INCLUDING: SUPPORT FOR THE PEDIATRIC ER BUILDING, PROVIDE ENTERTAINMENT, GIFTS, THERAPEUTIC PLAY, INCLUDING THERAPEUTIC ART WORK FOR THE PEDIATRIC OUTPATIENT CHEMOTHERAPY UNIT TO PROVIDE DISTRACTION FOR THE PATIENTS AS THEY UNDERGO EXTENSIVE AND LENGTHY TREATMENTS. PROVIDE PATIENTS AND FAMILIES ACCESS TO SPECIALISTS TRAINED IN MULTI-DISCIPLINARY HEALTH CARE TEAMS TO LEARN TO COPE WITH THE STRESS OF HOSPITAL STAYS. PROVIDES THE SOLE FINANCIAL SUPPORT OF THE CHILDREN'S MEDICAL FUND CENTER FOR PEDIATRIC DIAGNOSTIC STUDIES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $519,794

Program Service Revenue $0

Investment Income $23,262

Other Revenue $81,472

TOTAL REVENUE $624,528

Expense Breakdown

Grants Paid $634,875

Salaries & Benefits $229,372

Fundraising Expenses $198,259

Program Expenses $665,190

Other Expenses $108,855

TOTAL EXPENSES $973,102

Year-over-Year Comparison

	2023	2022	Change
Revenue	$624,528	$982,049	-0.4%
Expenses	$973,102	$488,947	+1.0%
Net Income	$-348,574	$493,102	-1.7%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$169,630

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID BLUMENFELD	CHAIRMAN	5.00	Officer Director	$0	$0	$0
HOWARD TANNEY	PRESIDENT	1.00	Officer Director	$0	$0	$0
ERIC NIERENBERG	ASSISTANT TREASURER	1.00	Officer Director	$0	$0	$0
MARK WOLF	ASSISTANT SECRETARY	1.00	Officer Director	$0	$0	$0
MICHAEL A KAUFMAN ESQ	SECRETARY	1.00	Officer Director	$0	$0	$0
NEIL SCHORR	TEASURER	0.50	Officer Director	$0	$0	$0
DAVID AARONS	TRUSTEE	0.50	Director	$0	$0	$0
LANCE ALSTODT	TRUSTEE	0.50	Director	$0	$0	$0
CLARE BARBADILLO	TRUSTEE	0.50	Director	$0	$0	$0
STEVEN BLOCK	TRUSTEE	0.50	Director	$0	$0	$0
BRAD BLUMENFELD	TRUSTEE	0.50	Director	$0	$0	$0
RANDI BULLER	TRUSTEE	0.50	Director	$0	$0	$0
RICHARD CHIPMAN	TRUSTEE	0.50	Director	$0	$0	$0
SETH COLLINS	TRUSTEE	0.50	Director	$0	$0	$0
JEFF COVIELLO	TRUSTEE	0.50	Director	$0	$0	$0
MARK GOODMAN	TRUSTEE	0.50	Director	$0	$0	$0
JAY HOCHHEISER	TRUSTEE	0.50	Director	$0	$0	$0
JARED KAPLAN	TRUSTEE	0.50	Director	$0	$0	$0
ADAM KOBLENZ ESQ	TRUSTEE	0.50	Director	$0	$0	$0
JAHN LEVIN	TRUSTEE	0.50	Director	$0	$0	$0
CRAIG LITT	TRUSTEE	0.50	Director	$0	$0	$0
CHRISTOPHER MONGELUZO	TRUSTEE	0.50	Director	$0	$0	$0
ADARSH MUDGIL MD	TRUSTEE	0.50	Director	$0	$0	$0
RANDY NAROD	TRUSTEE	0.50	Director	$0	$0	$0
MICHAEL OSTAD MD	TRUSTEE	0.50	Director	$0	$0	$0
CHARLES RICK	TRUSTEE	0.50	Director	$0	$0	$0
GREGORY RUSH	TRUSTEE	0.50	Director	$0	$0	$0
RICHARD RUSH	TRUSTEE	0.50	Director	$0	$0	$0
ADAM SINGER	TRUSTEE	0.50	Director	$0	$0	$0
ERIC SMALLOWITZ	TRUSTEE	0.50	Director	$0	$0	$0
MICHAEL SMITH	TRUSTEE	0.50	Director	$0	$0	$0
JEREMY TAUBES	TRUSTEE	0.50	Director	$0	$0	$0
ERICK VALLELY	TRUSTEE	0.50	Director	$0	$0	$0
JASON WACHTEL	TRUSTEE	0.50	Director	$0	$0	$0
BRIAN WASSERMAN	TRUSTEE	0.50	Director	$0	$0	$0
JONATHAN WEBB	TRUSTEE	0.50	Director	$0	$0	$0
REGINA SEGRETI	EXECUTIVE DIRECTOR	40.00	Officer	$147,856	$21,774	$169,630

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$624,528	$973,102	$596,037	$-348,574
2022	$982,049	$488,947	$980,040	$493,102
2021	$872,804	$522,209	$942,755	$350,595
2020	$442,457	$246,568	$950,621	$195,889
2019	$600,261	$381,695	$844,033	$218,566
2018	$549,913	$391,496	$922,616	$158,417