HAMASPIK CHOICE INC (EIN 454781328) - Form 990 Financial Analysis & Trantor Score

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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

2012

Legal Domicile

Principal Officer

YOEL BERNATH

Phone

8555524642

Tax Period

2023-01-01 to 2023-12-31

HAMASPIK CHOICE INC, founded in 2012, is a major nonprofit in the Health Care sector that reported $212.3M in total revenue in fiscal year 2023. Revenue surged 129% from the prior year, signaling strong growth momentum. Expenses of $238.3M exceeded revenue, resulting in a 12% operating deficit.

Mission

HAMASPIK CHOICE IS COMMITTED TO EXCELLENCE IN PROVIDING ACCESS TO QUALITY-DRIVEN HEALTH CARE COVERAGE IN A CULTURALLY-SENSITIVE, TIMELY AND RESPONSIVE MANNER.

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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 $200,459,953

Investment Income $1,580,183

Other Revenue $10,275,184

TOTAL REVENUE $212,315,320

Expense Breakdown

Grants Paid $0

Salaries & Benefits $30,239,705

Fundraising Expenses $0

Program Expenses $224,464,690

Other Expenses $208,106,082

TOTAL EXPENSES $238,345,787

Year-over-Year Comparison

	2023	2022	Change
Revenue	$212,315,320	$92,626,820	+1.3%
Expenses	$238,345,787	$92,178,236	+1.6%
Net Income	$-26,030,467	$448,584	-59.0%

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

410

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

$2,402,301

Total Directors

Key Employees

$3,088,816

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HERSCHEL WEISS	PRESIDENT	1.00	Officer Director	$0	$0	$0
JACOB COHN	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
ABRAHAM HERSHKOVITZ	SECRETARY	1.00	Officer Director	$0	$0	$0
ISRAEL STEIN	TREASURER	1.00	Officer Director	$0	$0	$0
MEYER WERTHEIMER	BOARD MEMBER	1.00	Director	$0	$0	$0
YOEL BERNATH	EXECUTIVE DIRECTOR	40.00	Officer	$1,815,146	$8,439	$1,823,585
DAVID M FRIEDMAN	CHIEF OPERATING OFFICER	40.00	Officer	$387,940	$34,508	$422,448
JOEL BRACH	CHIEF FINANCIAL OFFICER	40.00	Officer	$156,268	$0	$156,268
HAMMAD RIZVI	CHIEF MEDICAL OFFICER	40.00	Key Emp	$364,296	$0	$364,296
KARL DEHM	VP OF COMPLIANCE & REGULATORY	40.00	Key Emp	$356,292	$22,248	$378,540
CHAYA BACK	VP OF STRATEGY AND INNOVATION/INTERIM CFO	40.00	Key Emp	$693,068	$0	$693,068
TZIPORAH SCHWARTZ	CHIEF BUSINESS DEVELOPMENT OFFICER	40.00	Key Emp	$646,366	$34,580	$680,946
CHAYA SCHLESINGER	DIRECTOR OF HR	40.00	Key Emp	$217,572	$12,452	$230,024
DEVORA SHTEIERMAN	VP OF UTILIZATION MANAGEMENT	40.00	Key Emp	$187,297	$11,031	$198,328
LINDSAY LAROCQUE	VP OF CARE MANAGEMENT	40.00	Key Emp	$174,772	$11,093	$185,865
ERIC KABEL	VP OF PROVIDER RELATIONS AND CONTRACTING	40.00	Key Emp	$172,945	$11,201	$184,146
CHRISTOPHER HICKEY	VP OF ASSESSMENTS	40.00	Key Emp	$163,154	$10,449	$173,603
EMILY MANNING	CHIEF TECHNOLOGY OFFICER	40.00	Highest	$210,528	$10,984	$221,512
DAVID LANDAU	MANAGER OF FACILITY ENROLLMENTS	40.00	Highest	$234,944	$21,173	$256,117
MENDEL ORNSTEIN	COMPTROLLER	40.00	Highest	$194,191	$34,346	$228,537
SHAINDY MAYER	DIRECTOR OF CLAIMS PROCESSING	40.00	Highest	$190,232	$23,088	$213,320
LIPA STEINBERG	CHIEF INFORMATION SECURITY OFFICER	40.00	Highest	$157,752	$21,284	$179,036

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	$212,315,320	$238,345,787	$98,799,870	$-26,030,467
2022	$92,626,820	$92,178,236	$66,121,497	$448,584
2021	$111,265,945	$88,248,283	$66,826,438	$23,017,662
2020	$112,476,918	$102,342,754	$53,540,409	$10,134,164
2019	$117,042,239	$123,825,377	$39,017,680	$-6,783,138
2018	$115,269,613	$104,842,557	$38,251,719	$10,427,056

HAMASPIK CHOICE INC