INDEPENDENCE CARE SYSTEM 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

1999

Legal Domicile

Principal Officer

REGINA ESTELA

Phone

8774272525

Tax Period

2023-01-01 to 2023-12-31

INDEPENDENCE CARE SYSTEM INC, founded in 1999, is a mid-sized nonprofit in the Health Care sector that reported $13.5M in total revenue in fiscal year 2023.

Mission

INDEPENDENCE CARE SYSTEM (ICS) IS A NONPROFIT ORGANIZATION COMMITTED TO ASSISTING PEOPLE WITH DISABILITIES TO LIVE INDEPENDENTLY AND PARTICIPATE FULLY IN COMMUNITY LIFE. WE SEEK TO BECOME A MODEL OF INTEGRATED HEALTH CARE AND SOCIAL SUPPORTS BASED ON COLLABORATION BETWEEN CONSUMERS, PROVIDERS AND CARE COORDINATORS.

Program Service Accomplishments

Program 1

Expenses: $11,555,815 Revenue: $12,622,718

EFFECTIVE APRIL 1, 2019, INDEPENDENCE CARE SYSTEM (ICS) IS THE FIRST AND ONLY "HEALTH HOME" PROGRAM IN NEW YORK STATE TO PROMOTE THE HEALTH AND INDEPENDENCE FOR INDIVIDUALS WITH SPINAL CORD INJURIES, MULTIPLE SCLEROSIS AND OTHER PHYSICAL DISABILITIES THAT LIMIT THEIR MOBILITY. THE NEW YORK STATE DEPARTMENT OF HEALTH (DOH) DESIGNATED ICS AS A HEALTH HOME FOR INDIVIDUALS WITH PHYSICAL DISABILITIES AND ICS ENTERED INTO A CARE MANAGEMENT AGREEMENT WITH VNS CHOICE. THESE TWO AGREEMENTS ALLOWED ICS TO CONTINUE ITS MISSION OF SUPPORTING ADULTS WITH PHYSICAL DISABILITIES AND CHRONIC CONDITIONS TO LIVE AT HOME AND PARTICIPATE FULLY IN COMMUNITY LIFE.

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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 $570,014

Program Service Revenue $12,622,718

Investment Income $212,459

Other Revenue $135,491

TOTAL REVENUE $13,540,682

Expense Breakdown

Grants Paid $0

Salaries & Benefits $11,765,307

Fundraising Expenses $0

Program Expenses $11,555,815

Other Expenses $3,110,503

TOTAL EXPENSES $14,875,810

Year-over-Year Comparison

	2023	2022	Change
Revenue	$13,540,682	$14,053,133	0.0%
Expenses	$14,875,810	$15,383,843	0.0%
Net Income	$-1,335,128	$-1,330,710	+0.0%

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

139

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

$600,082

Total Directors

$22,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JEFFREY M KRAUSS	CHAIRPERSON	1.00	Officer Director	$0	$0	$0
THOMAS K SMALL	TREASURER	1.00	Officer Director	$0	$0	$0
GERRY DICKERSON	BOARD MEMBER	1.00	Director	$0	$0	$0
CHRIS DUFF	BOARD MEMBER	1.00	Director	$0	$0	$0
CARLA BOUTIN- FOSTER	BOARD MEMBER	1.00	Director	$0	$0	$0
DONNA GALENO	BOARD MEMBER	1.00	Director	$0	$0	$0
BILL GUERCI	BOARD MEMBER	1.00	Director	$0	$0	$0
JOSE HERNANDEZ	BOARD MEMBER	1.00	Director	$0	$0	$0
JANINE KNUDSEN	BOARD MEMBER	1.00	Director	$0	$0	$0
GREGORY NERSESSIAN	BOARD MEMBER	1.00	Director	$0	$0	$0
ADRIA POWELL	BOARD MEMBER	1.00	Director	$0	$0	$0
RICK SURPIN	BOARD MEMBER	1.00	Director	$22,000	$0	$22,000
REGINA ESTELA	CEO/PRESIDENT	35.00	Officer	$304,145	$24,811	$328,956
KERRI O'NEILL	SVP-OPERATIONS & INFORMATION	35.00	Officer	$248,796	$22,330	$271,126
RACHAEL STACOM	SVP, CLINIC PROG & POPULATION HEALTH	35.00	Highest	$175,809	$0	$175,809
HARRY K BONSU	SVP, ADMINISTRATIVE & MEMBER SVCS	35.00	Highest	$225,651	$0	$225,651
DONNA LOONIE	SVP, COMMUNICATIONS & MARKETING	35.00	Highest	$217,510	$0	$217,510
CATHERINE H BARUFALDI	SVP, HUMAN RESOURCES	35.00	Highest	$195,389	$24,811	$220,200
MEGAN ROGERS	VP, OPERATIONS & INFORMATION SYSTEMS	35.00	Highest	$173,993	$12,405	$186,398

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	$13,540,682	$14,875,810	$12,382,855	$-1,335,128
2022	$14,053,133	$15,383,843	$14,082,337	$-1,330,710
2021	$18,543,015	$15,574,541	$10,653,055	$2,968,474
2020	$15,933,144	$15,683,957	$19,186,856	$249,187
2019	$10,424,062	$13,008,923	$5,464,015	$-2,584,861
2018	$437,036,759	$505,186,525	$33,309,364	$-68,149,766