NY44 HEALTH BENEFITS PLAN TRUST

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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

2003

Legal Domicile

Principal Officer

JAMES FREGELETTE

Phone

7168217161

Tax Period

2023-07-01 to 2024-06-30

NY44 HEALTH BENEFITS PLAN TRUST, founded in 2003, is a major nonprofit in the Mutual Benefit sector that reported $130.6M in total revenue in fiscal year 2023.

Mission

PURSUANT TO ARTICLE 44 OF NYS INSURANCE LAW, PROVIDING HEALTH BENEFIT COVERAGE FOR ELIGIBLE EMPLOYEES.

Program Service Accomplishments

Program 1

PROVIDE 18 SCHOOL DISTRICTS WITH LOW COST HEALTH INSURANCE

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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 $0

Program Service Revenue $128,844,410

Investment Income $1,718,013

Other Revenue $68,579

TOTAL REVENUE $130,631,002

Expense Breakdown

Grants Paid $0

Salaries & Benefits $213,017

Fundraising Expenses $0

Other Expenses $135,970,727

TOTAL EXPENSES $136,183,744

Year-over-Year Comparison

	2023	2022	Change
Revenue	$130,631,002	$126,809,593	+0.0%
Expenses	$136,183,744	$119,408,852	+0.1%
Net Income	$-5,552,742	$7,400,741	-1.8%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CANDACE REIMER	TRUSTEE	1.00	Director	$0	$0	$0
ELIZABETH FREAS	TRUSTEE	1.00	Director	$0	$0	$0
JAMES FREGELETTE	CHAIR	1.00	Director	$0	$0	$0
DAVID SCALZO	TRUSTEE	1.00	Director	$0	$0	$0
CHRISTA MCHALE	TRUSTEE	1.00	Director	$0	$0	$0
DEBORAH PIATEK	TRUSTEE	1.00	Director	$0	$0	$0
JOHN POPE	TRUSTEE	1.00	Director	$0	$0	$0
DONNA WALTERS	VICE CHAIR	1.00	Director	$0	$0	$0
MICHELLE OKAL-FINK	TRUSTEE	1.00	Director	$0	$0	$0
ROBERT GIANNICCHI	TRUSTEE	1.00	Director	$0	$0	$0
WAYNE DRESCHER	TRUSTEE	1.00	Director	$0	$0	$0
MICHELLE STRUZIK	TRUSTEE	1.00	Director	$0	$0	$0
MARIA MASSARO	TRUSTEE	1.00	Director	$0	$0	$0
ALICIA SAVINO	TRUSTEE	1.00	Director	$0	$0	$0

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
2025	No data	No data	No data	No data
2024	$130,631,002	$136,183,744	$72,565,555	$-5,552,742
2023	$126,809,593	$119,408,852	$74,731,714	$7,400,741
2022	$123,095,182	$117,447,977	$65,564,066	$5,647,205
2021	$129,133,795	$119,148,419	$56,544,646	$9,985,376
2019	$196,914,250	$178,303,895	$23,278,561	$18,610,355