EMBLEMHEALTH INC

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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

1995

Legal Domicile

Principal Officer

MICHAEL PALMETEER

Phone

6464475000

Tax Period

2024-01-01 to 2024-12-31

EMBLEMHEALTH INC, founded in 1995, is a community nonprofit that reported $2.2M in total revenue in fiscal year 2024. Revenue grew 13% year-over-year, indicating healthy expansion.

Mission

EMBLEMHEALTH, INC. IS A NOT-FOR-PROFIT CORPORATION INCORPORATED IN NEW YORK STATE THAT, TOGETHER WITH ITS SUBSIDIARIES, PROVIDES MANAGED HEALTH CARE SERVICES TO ITS MEMBERS.

Program Service Accomplishments

Program 1

Expenses: $2,212,007 Revenue: $1,833,420

EMBLEMHEALTH'S TAX-EXEMPT MISSION IS TO SUPPORT THE HEALTHCARE ACTIVITIES OF ITS SUPPORTED ORGANIZATION, HEALTH INSURANCE PLAN OF GREATER NEW YORK. MOST OF THE COSTS INCURRED BY EMBLEMHEALTH, INC...

EMBLEMHEALTH'S TAX-EXEMPT MISSION IS TO SUPPORT THE HEALTHCARE ACTIVITIES OF ITS SUPPORTED ORGANIZATION, HEALTH INSURANCE PLAN OF GREATER NEW YORK. MOST OF THE COSTS INCURRED BY EMBLEMHEALTH, INC. ARE ANNUAL BOARD OF DIRECTORS FEES (AND ANCILLARY EXPENSES ASSOCIATED WITH BOARD SERVICE). IN ADDITION, EMBLEMHEALTH, INC. DISTRIBUTED A GRANT TO ITS PARENT ORGANIZATION, AS WELL AS OTHER SMALL GRANTS TO SELECT SECTION 501(C)(3) PUBLIC CHARITIES.

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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 (2024)

Revenue Breakdown

Contributions & Grants $378,587

Program Service Revenue $1,833,420

Investment Income $0

Other Revenue $0

TOTAL REVENUE $2,212,007

Expense Breakdown

Grants Paid $497,132

Salaries & Benefits $1,652,545

Fundraising Expenses $0

Program Expenses $2,212,007

Other Expenses $62,330

TOTAL EXPENSES $2,212,007

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,212,007	$1,960,266	+0.1%
Expenses	$2,212,007	$1,960,266	+0.1%
Net Income	$0	$0	N/A

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

N/A

Volunteers

N/A

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

$11,536,648

Total Directors

$7,015,256

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KAREN IGNAGNI	CHIEF EXECUTIVE OFFICER	2.00	Officer Director	$0	$78,153	$5,320,093
JOHN FEERICK	CHAIRMAN	1.00	Officer Director	$0	$0	$172,500
PAUL GIBSON	VICE CHAIRPERSON OF THE BOARD	1.00	Officer Director	$0	$0	$160,125
BERNARD SCHAYES MD	DIRECTOR	1.00	Director	$0	$21,414	$154,266
RICHARD BERMAN	DIRECTOR	1.00	Director	$0	$5,298	$155,173
BARBARA SHATTUCK KOHN	DIRECTOR	1.00	Director	$0	$0	$147,875
KARIN MAYHEW	DIRECTOR	1.00	Director	$0	$0	$143,750
SAM HAVENS	DIRECTOR	1.00	Director	$0	$0	$138,125
ROSA GIL DSW	DIRECTOR	1.00	Director	$0	$0	$128,545
JO IVEY BOUFFORD	DIRECTOR	1.00	Director	$0	$0	$101,375
JOHN BANKS III	DIRECTOR	1.00	Director	$0	$179	$120,304
GREGORY FLOYD	DIRECTOR	1.00	Director	$0	$0	$0
WAYNE CAFRAN	DIRECTOR	1.00	Director	$0	$0	$145,500
KATHY HIRATA CHIN	DIRECTOR	1.00	Director	$0	$0	$125,875
TOM CANTY	DIRECTOR (AS OF 12/2024)	1.00	Director	$0	$0	$1,750
MICHAEL PALMATEER	PRESIDENT	1.00	Officer	$0	$71,690	$3,280,766
HEATHER TAMBORINO	CHIEF FINANCIAL OFFICER	1.00	Officer	$0	$55,070	$2,603,164

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	$2,212,007	$2,212,007	$587,253	No data
2023	$1,960,266	$1,960,266	$827,526	No data
2022	$4,648,814	$1,647,979	$590,236	$3,000,835
2021	$-630,046	$1,782,555	$1,528,819	$-2,412,601
2020	$667,288	$1,718,917	$2,564,336	$-1,051,629
2019	$821,920	$1,617,045	$1,354,301	$-795,125
2018	$1,560,801	$1,560,801	$1,682,812	No data