THE FLOATING HOSPITAL INC

EIN: 131624169 501(c)(3) Health Care

LONG ISLAND CITY, NY

Total Revenue
$32,401,064
Total Expenses
$31,087,766
Total Assets
$16,206,358
Net Assets
$9,662,518
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1866
Legal Domicile
NY
Principal Officer
SEAN T GRANAHAN
Phone
7187842240
Tax Period
2023-01-01 to 2023-12-31

THE FLOATING HOSPITAL INC, founded in 1866, is a mid-sized nonprofit in the Health Care sector that reported $32.4M in total revenue in fiscal year 2023. Expenses of $31.1M left a modest 4% surplus.

Mission

THE HOSPITAL IS A FREE STANDING DIAGNOSTIC AND TREATMENT CENTER, LICENSED UNDER ARTICLE 28 AND ARTICLE 31 OF THE NYS HEALTH LAW, LOCATED IN LONG ISLAND CITY, NY. THE HOSPITAL PROVIDES A BROAD RANGE OF PRIMARY HEALTH CARE SERVICES TO A LARGELY MEDICALLY UNDERSERVED POPULATION. THF IS ALSO A FEDERALLY QUALIFIED HEALTH CENTER WITH ALL THREE URBAN DESIGNATIONS UNDER SECTION 330.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $15,911,991
Program Service Revenue $16,401,589
Investment Income $70,302
Other Revenue $17,182
TOTAL REVENUE $32,401,064

Expense Breakdown

Grants Paid $0
Salaries & Benefits $18,937,170
Fundraising Expenses $0
Program Expenses $27,391,762
Other Expenses $12,150,596
TOTAL EXPENSES $31,087,766

Year-over-Year Comparison

2023 2022 Change
Revenue $32,401,064 $30,271,999 +0.1%
Expenses $31,087,766 $30,138,362 +0.0%
Net Income $1,313,298 $133,637 +8.8%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
13
Independent Members
13
Employees
286
Volunteers
14

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
5
$430,867
Total Directors
13
$0
Key Employees
1
$346,350
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ALLISON SOKARIS TRUSTEE 1.00
Director
$0 $0 $0
ANTHONY BROWNIE SECRETARY 1.00
Officer Director
$0 $0 $0
BARBARA LINDER TRUSTEE 1.00
Director
$0 $0 $0
CAROL JACKSON TRUSTEE 1.00
Director
$0 $0 $0
DAVID KOCHANOWSKY TRUSTEE 1.00
Director
$0 $0 $0
DOMINICK DELORENZO CHAIR OF BOARD OF TRUSTEES 1.00
Officer Director
$0 $0 $0
EVELYN LORD TRUSTEE 1.00
Director
$0 $0 $0
HAYWARD GILL TRUSTEE 1.00
Director
$0 $0 $0
KHADIJAH WATKINS TRUSTEE 1.00
Director
$0 $0 $0
MADELINE NAEGLE TRUSTEE 1.00
Director
$0 $0 $0
MICHAEL GEORGE TRUSTEE 1.00
Director
$0 $0 $0
PRISCILLA BAYLEY TRUSTEE 1.00
Director
$0 $0 $0
REGINA JASLOW VICE CHAIR & TREASURER 1.00
Officer Director
$0 $0 $0
GLORIA CARNEY JACKSON EXECUTIVE VICE PRESIDENT OF FINANCE 30.00
Officer
$175,797 $14,865 $190,662
SEAN T GRANAHAN PRESIDENT/GENERAL COUNSEL 30.00
Officer
$211,550 $28,655 $240,205
SHANI ANDRE MD EXCEUTIVE VICE PRESIDENT CLINICAL ADMIN 35.00
Key Emp
$322,700 $23,650 $346,350
JANICE CRISTOBAL PHYSICIAN 35.00
Highest
$199,577 $10,849 $210,426
KAREN MYRIE MEDICAL DIRECTOR-ACS 35.00
Highest
$197,021 $19,695 $216,716
KIM HENEGHAN PHYSCIAN ASSISTANT 35.00
Highest
$195,683 $19,660 $215,343
MARK SETHNA MEDICAL DIRECTOR 35.00
Highest
$210,071 $20,863 $230,934
SHARI POTTER PHYSICIAN ASSISTANT 35.00
Highest
$196,735 $38,546 $235,281
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 $32,401,064 $31,087,766 $16,206,358 $1,313,298
2022 $30,271,999 $30,138,362 $15,495,678 $133,637
2021 $29,287,827 $27,786,188 $12,792,635 $1,501,639
2020 $26,887,400 $23,679,613 $11,819,449 $3,207,787
2019 $21,463,067 $21,480,552 $9,632,056 $-17,485
2018 $21,772,839 $20,683,462 $5,954,027 $1,089,377
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