PARTNERS HEALTH PLAN 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

2012

Legal Domicile

Principal Officer

KERRY ANN DELANEY-MASAWI

Phone

6468444020

Tax Period

2023-01-01 to 2023-12-31

PARTNERS HEALTH PLAN INC, founded in 2012, is a major nonprofit in the Health Care sector that reported $336.5M in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $323.2M left a modest 4% surplus.

Mission

PARTNERS HEALTH PLAN ("PHP") IS A MANAGED CARE ORGANIZATION DEDICATED SOLELY TO PROVIDING SUPPORT AND SERVICES FOR ADULTS AGE 21 AND OLDER WITH INTELLECTUAL AND DEVELOPMENTAL DISABILITIES. PHP IS COMMITTED TO KEEPING MEMBERS AS HEALTHY AND AS INDEPENDENT AS POSSIBLE, SO THEY CAN LIVE THE LIFE THEY CHOOSE. PHP PROMOTES THE WELLNESS, SUPPORTS THE CHOICES, INTEGRATES THE SERVICES, RESPECTS THE DIVERSITY OF AND IMPROVES THE LIFE OF PEOPLE WITH INTELLECTUAL AND DEVELOPMENTAL DISABILITIES.

Program Service Accomplishments

Program 1

Expenses: $316,493,184 Revenue: $336,504,244

EFFECTIVE APRIL 1, 2016, THE NEW YORK STATE DEPARTMENT OF HEALTH (NYDOH) ISSUED A HEALTH MAINTENANCE ORGANIZATION CERTIFICATE OF AUTHORITY, LICENSING PARTNERS HEALTH PLAN (PHP) TO OPERATE A FIDA-IDD PLAN IN THE FIVE BOROUGHS OF NEW YORK CITY AND NASSAU, SUFFOLK, WESTCHESTER AND ROCKLAND COUNTIES. IN 2023 PHP PROVIDED A WIDE RANGE OF SUPPORT SERVICES, INCLUDING MEDICAID, MEDICARE, PERSONAL CARE AND THOSE OFFERED BY THE OFFICE FOR PEOPLE WITH DEVELOPMENTAL DISABILITIES FOR APPROXIMATELY 1,700 DUAL MEDICAID AND MEDICARE ELIGIBLE ADULTS, AGE 21 AND OLDER, WITH INTELLECTUAL AND OTHER DEVELOPMENTAL DISABILITIES.

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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 $336,504,244

Investment Income $1,159

Other Revenue $0

TOTAL REVENUE $336,505,403

Expense Breakdown

Grants Paid $0

Salaries & Benefits $12,323,268

Fundraising Expenses $0

Program Expenses $316,493,184

Other Expenses $310,897,993

TOTAL EXPENSES $323,221,261

Year-over-Year Comparison

	2023	2022	Change
Revenue	$336,505,403	$302,379,602	+0.1%
Expenses	$323,221,261	$293,122,825	+0.1%
Net Income	$13,284,142	$9,256,777	+0.4%

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

N/A

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

$900,953

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KERRY ANN DELANEY-MASAWI	CHIEF EXECUTIVE OFFICER	45.0	Officer	$568,525	$30,296	$598,821
CHRISTOPHER MASI	CHIEF FINANCIAL OFFICER	45.0	Officer	$258,180	$43,952	$302,132
KARLEEN HAINES	CHIEF-COMM. RELATIONS&OUTREACH	45.0	Highest	$194,853	$50,747	$245,600
TRACY CORRARO	VP OF ANALYTICS	45.0	Highest	$189,340	$40,548	$229,888
DIANE MARRONE	CHIEF OF CARE COORDINATION	45.0	Highest	$196,955	$9,596	$206,551
PREMILA KUMAR	VP- QUALITY PROG & INITIATIVES	45.0	Highest	$197,180	$8,962	$206,142
NATALIA MCGARRY	ASST. VP OF HEALTH CARE MGMT.	45.0	Highest	$156,340	$46,716	$203,056
MICHAEL MASCARI	CHAIRMAN OF THE BOARD	2.0	Officer Director	$0	$0	$0
MARTIN BOORSTEIN	DIRECTOR AND TREASURER	2.0	Officer Director	$0	$0	$0
HOWARD JURIST	DIRECTOR AND SECRETARY	2.0	Officer Director	$0	$0	$0
KEVIN CONROY	DIRECTOR	2.0	Director	$0	$0	$0
HOWARD GOLD	DIRECTOR	2.0	Director	$0	$0	$0
ALDEN KAPLAN	DIRECTOR	2.0	Director	$0	$0	$0
STEVE LOGAN	DIRECTOR	2.0	Director	$0	$0	$0
DR TIMOTHY SULLIVAN	DIRECTOR	2.0	Director	$0	$0	$0
ARTHUR WEBB	DIRECTOR	2.0	Director	$0	$0	$0
ROBERT NORRIS	DIRECTOR, thru 3/8/23	2.0	Director	$0	$0	$0
JOHN SARDELIS	DIRECTOR, thru 7/19/23	2.0	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
2024	No data	No data	No data	No data
2023	$336,505,403	$323,221,261	$116,304,805	$13,284,142
2022	$302,379,602	$293,122,825	$76,215,193	$9,256,777
2021	$287,431,178	$311,851,883	$49,889,991	$-24,420,705
2020	$260,649,333	$277,681,092	$48,917,554	$-17,031,759
2019	$221,034,942	$230,469,415	$58,658,370	$-9,434,473
2018	$148,202,298	$149,597,174	$40,743,616	$-1,394,876