CARMEL RICHMOND NURSING HOME INC

EIN: 132720248 501(c)(3) Health Care

STATEN ISLAND, NY

Total Revenue
$52,709,040
Total Expenses
$50,674,124
Total Assets
$53,633,342
Net Assets
$43,250,578
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1969
Legal Domicile
NY
Principal Officer
SCOTT P LA RUE
Phone
6466334700
Tax Period
2023-01-01 to 2023-12-31

CARMEL RICHMOND NURSING HOME INC, founded in 1969, is a mid-sized nonprofit in the Health Care sector that reported $52.7M in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $50.7M left a modest 4% surplus.

Mission

THE NURSING HOME IS DEVOTED TO CARING FOR THE SICK AND DISABLED WITH COMPASSION IN THE TRADITION OF CATHOLIC HEALTH CARE. IT SEEKS TO DELIVER HIGH QUALITY CARE, TO TREAT ALL PATIENTS WITH DIGNITY, AND TO PROVIDE A CARING ENVIRONMENT FOR PATIENTS AT THE NURSING HOME. AS A PARTICIPATING MEMBER OF THE CATHOLIC HEALTH CARE SYSTEM, THE NURSING HOME IS ALSO COMMITTED TO FURTHERING THE SYSTEM'S ABILITY TO PROMOTE HIGH QUALITY CARE, TO ENHANCE ITS SERVICES, AND TO OPERATE EFFECTIVELY AS A HEALTH CARE SYSTEM.

Program Service Accomplishments

Program 1
Expenses: $42,329,821 Revenue: $49,145,644

CARE SERVICES AT CARMEL RICHMOND INCLUDE: 24-HOUR SKILLED NURSING SERVICES; SHORT-TERM REHABILITATION SERVICES INCLUDING SPEECH, PHYSICAL AND OCCUPATIONAL THERAPY; CLINICAL AND PHYSICIAN SERVICES...

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CARE SERVICES AT CARMEL RICHMOND INCLUDE: 24-HOUR SKILLED NURSING SERVICES; SHORT-TERM REHABILITATION SERVICES INCLUDING SPEECH, PHYSICAL AND OCCUPATIONAL THERAPY; CLINICAL AND PHYSICIAN SERVICES INCLUDING CONSULTING PHYSICIANS FOR DENTAL, OPHTHALMOLOGY, AND PODIATRY; LABORATORY SERVICES; RELIGIOUS SERVICES; RECREATION THERAPY; RADIOLOGY SERVICES; NUTRITION SERVICES; IV THERAPY; PAIN MANAGEMENT; HOSPICE, AND FAMILY AND RESIDENT COUNCILS. IN 2023, THE HOME RENDERED 108,153 NURSING HOME DAYS OF CARE TO 1,245 PATIENTS.

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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 $3,018,113
Program Service Revenue $49,145,644
Investment Income $394,744
Other Revenue $150,539
TOTAL REVENUE $52,709,040

Expense Breakdown

Grants Paid $0
Salaries & Benefits $29,858,645
Fundraising Expenses $0
Program Expenses $42,329,821
Other Expenses $20,815,479
TOTAL EXPENSES $50,674,124

Year-over-Year Comparison

2023 2022 Change
Revenue $52,709,040 $47,352,663 +0.1%
Expenses $50,674,124 $48,479,955 +0.0%
Net Income $2,034,916 $-1,127,292 -2.8%
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
21
Independent Members
21
Employees
511
Volunteers
58

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
6
$3,871,079
Total Directors
22
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
FRANCIS J SERBAROLI ESQ CHAIRMAN 0.10
Officer Director
$0 $0 $0
THOMAS M O'BRIEN VICE-CHAIR 0.10
Officer Director
$0 $0 $0
DR TARA A CORTES SECRETARY 0.10
Officer Director
$0 $0 $0
THOMAS E ALBERTO BOARD MEMBER 0.10
Director
$0 $0 $0
STEVE BUJNO BOARD MEMBER 0.10
Director
$0 $0 $0
JOHN CAHILL BOARD MEMBER 0.10
Director
$0 $0 $0
JOHN T DUNLAP BOARD MEMBER 0.10
Director
$0 $0 $0
MSGR CHARLES J FAHEY BOARD MEMBER THRU NOV. 2023 0.10
Director
$0 $0 $0
THOMAS J FAHEY JR MD BOARD MEMBER 0.10
Director
$0 $0 $0
ERIC P FELDMANN BOARD MEMBER 0.10
Director
$0 $0 $0
SISTER SELINE FLORES BOARD MEMBER 0.10
Director
$0 $0 $0
JOHN GLEASON BOARD MEMBER 0.10
Director
$0 $0 $0
KAREN GRAY BOARD MEMBER 0.10
Director
$0 $0 $0
CLARION E JOHNSON MD BOARD MEMBER 0.10
Director
$0 $0 $0
RORY KELLEHER BOARD MEMBER 0.10
Director
$0 $0 $0
MSGR JOSEPH LAMORTE BOARD MEMBER 0.10
Director
$0 $0 $0
RICHARD PARK MD BOARD MEMBER 0.10
Director
$0 $0 $0
KATHRYN ROONEY BOARD MEMBER 0.10
Director
$0 $0 $0
JOSEPH SAPORITO BOARD MEMBER 0.10
Director
$0 $0 $0
GT SWEENEY BOARD MEMBER 0.10
Director
$0 $0 $0
GENNARO VASILE PHD BOARD MEMBER 0.10
Director
$0 $0 $0
BISHOP GERALD WALSH BOARD MEMBER 0.10
Director
$0 $0 $0
SCOTT P LA RUE PRESIDENT & CEO 0.10
Officer
$0 $412,658 $2,053,206
ANNMARIE COVONE EXECUTIVE VP/CFO 0.10
Officer
$0 $309,335 $1,402,472
MARY E FRANCIS ADMINISTRATOR 37.50
Officer
$343,137 $72,264 $415,401
JANET BELOY RN/RN SUPERVISOR 37.50
Highest
$230,782 $23,464 $254,246
GINA M ESPOSITO CHIEF CLINICAL OFFICER 37.50
Highest
$223,580 $41,400 $264,980
OLIDICHE PHILEMOND RN 37.50
Highest
$169,161 $13,517 $182,678
NOHEMI MANDILE RN 37.50
Highest
$154,614 $20,263 $174,877
KRISTEN A LONG DIRECTOR OF NURSING 37.50
Highest
$155,663 $0 $155,663
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 $52,709,040 $50,674,124 $53,633,342 $2,034,916
2022 $47,352,663 $48,479,955 $52,011,154 $-1,127,292
2021 $48,780,538 $47,112,458 $55,443,617 $1,668,080
2020 $47,075,656 $45,019,067 $54,670,949 $2,056,589
2019 $46,720,899 $43,764,375 $52,633,725 $2,956,524
2018 $46,486,902 $43,132,477 $47,389,553 $3,354,425
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