CARDIOVASCULAR & IMAGING RESEARCH FOUNDATION OF NY

EIN: 202597925 501(c)(3) Medical Research

Lloyd Harbor, NY

Total Revenue
$103,198
Total Expenses
$347,067
Total Assets
$177,622
Net Assets
$177,622
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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
2005
Legal Domicile
NY
Principal Officer
David Rausnitz
Phone
5162411314
Tax Period
2025-01-01 to 2025-12-31

CARDIOVASCULAR & IMAGING RESEARCH FOUNDATION OF NY, founded in 2005, is a small nonprofit in the Medical Research sector that reported $103K in total revenue in fiscal year 2025. Revenue grew 19% year-over-year, indicating healthy expansion. Expenses of $347K exceeded revenue, resulting in a 236% operating deficit.

Mission

Cardiovascular & Imaging Research Foundation of New York's mission statement is to support medical research and education and other projects aimed at treating and preventing cardiovascular diseases.

Program Service Accomplishments

Program 1
Expenses: $93,247 Revenue: $0

Retrospective clinical trial to assess long term cardiac effects after COVID diagnosis with Coronary CT Angiography both pre and post COVID diagnosis

Program 2
Expenses: $155,412 Revenue: $0

Retrospective clinical trial to assess diagnostic accuracy of Artificial Intelligence software verse coronary CT Angiography in an outpatient physician office setting

Program 3
Expenses: $62,165 Revenue: $0

Evaluate a new design for the treatment of various coronary disease with enhanced external counter pulsation therapy

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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 (2025)

Revenue Breakdown

Contributions & Grants $99,691
Program Service Revenue $0
Investment Income $557
Other Revenue $2,950
TOTAL REVENUE $103,198

Expense Breakdown

Grants Paid $0
Salaries & Benefits $299,938
Fundraising Expenses $0
Program Expenses $310,824
Other Expenses $47,129
TOTAL EXPENSES $347,067

Year-over-Year Comparison

2025 2024 Change
Revenue $103,198 $86,901 +0.2%
Expenses $347,067 $667,120 -0.5%
Net Income $-243,869 $-580,219 -0.6%
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

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Governance

Voting Members
4
Independent Members
3
Employees
3
Volunteers
5

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
2
$30,000
Total Directors
3
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Michael Poon Principal Investigator 15
Highest
$200,000 $0 $200,000
Michael J Cortegiano Treasurer 15
Officer
$30,000 $0 $30,000
Charles Gargano Drector 2
Director
$0 $0 $0
Howard Printz Director 2
Director
$0 $0 $0
Gerald Rausnitz Director 2
Director
$0 $0 $0
David Rausnitz President 3
Officer
$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 $103,198 $347,067 $177,622 $-243,869
2024 $86,901 $667,120 $421,491 $-580,219
2023 $90,731 $398,402 $1,001,710 $-307,671
2022 $179,560 $382,859 $1,312,848 $-203,299
2021 $1,026,272 $729,125 $1,516,147 $297,147
2020 $304,709 $280,104 $1,219,000 $24,605
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