PHELPS MEDICAL SERVICES PC

EIN: 274416017 501(c)(3) Health Care

SLEEPY HOLLOW, NY

Total Revenue
$93,825,848
Total Expenses
$107,055,897
Total Assets
$16,066,031
Net Assets
$-19,523,344
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2010
Legal Domicile
NY
Principal Officer
MICHAEL DOWLING
Phone
9143661017
Tax Period
2023-01-01 to 2023-12-31

PHELPS MEDICAL SERVICES PC, founded in 2010, is a mid-sized nonprofit in the Health Care sector that reported $93.8M in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $107.1M exceeded revenue, resulting in a 14% operating deficit.

Mission

A TAX EXEMPT CORPORATION ORGANIZED FOR THE SOLE PURPOSE OF SUPPORTING THE CHARITABLE PURPOSES OF PHELPS MEMORIAL HOSPITAL ASSOCIATION,BY ENGAGING IN THE PRACTICE OF MEDICINE.

Program Service Accomplishments

Program 1
Expenses: $104,198,284 Revenue: $88,037,789

SUPPORT AND FURTHER THE CHARITABLE PURPOSES OF PHELPS MEMORIAL HOSPITAL ASSOCIATION, (THE HOSPITAL) BY ENGAGING IN THE PRACTICE OF MEDICINE AS DIRECTED BY THE HOSPITAL.

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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 $167,397
Program Service Revenue $88,037,789
Investment Income $0
Other Revenue $5,620,662
TOTAL REVENUE $93,825,848

Expense Breakdown

Grants Paid $0
Salaries & Benefits $86,728,980
Fundraising Expenses $0
Program Expenses $104,198,284
Other Expenses $20,326,917
TOTAL EXPENSES $107,055,897

Year-over-Year Comparison

2023 2022 Change
Revenue $93,825,848 $85,628,153 +0.1%
Expenses $107,055,897 $93,877,250 +0.1%
Net Income $-13,230,049 $-8,249,097 +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
1
Independent Members
N/A
Employees
424
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
1
$546,264
Total Directors
1
$546,264
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DAVID GORDON Chf, Neurosurgery 50.0
Highest
$702,761 $76,833 $1,862,593
FLOYD BYFIELD Chf, Div Gastroentrlgy 50.0
Highest
$847,609 $78,507 $926,116
PARUL SHUKLA Regional Chief, Colorectal Sur 50.0
Highest
$752,915 $36,900 $789,815
DINA KATZ Physician 50.0
Highest
$673,837 $78,507 $752,344
RICHARD FINDLING Assoc Director 50.0
Highest
$661,623 $36,900 $698,523
ROBBINS GOTTLOCK President 0.0
Officer Director
$0 $51,710 $546,264
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 $93,825,848 $107,055,897 $16,066,031 $-13,230,049
2022 $85,628,153 $93,877,250 $14,127,679 $-8,249,097
2021 $48,861,957 $50,082,597 $9,407,436 $-1,220,640
2020 $42,631,141 $46,398,367 $8,548,807 $-3,767,226
2019 $42,630,342 $43,934,548 $8,856,303 $-1,304,206
2018 $20,347,692 $36,498,405 $4,964,101 $-16,150,713
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