Hudson Valley Cardiovascular Pract… - Form 990 Financial Data

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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

2013

Legal Domicile

Phone

8454759500

Tax Period

2023-10-01 to 2024-09-30

Hudson Valley Cardiovascular Practice PC, founded in 2013, is a mid-sized nonprofit in the Health Care sector that reported $64.9M in total revenue in fiscal year 2023. Revenue grew 16% year-over-year, indicating healthy expansion.

Mission

IMPROVE THE HEALTH OF EVERY PERSON IN OUR COMMUNITY THROUGH THE EFFICIENT DELIVERY OF EXCELLENT, INNOVATIVE AND COMPASSIONATE CARE.

Program Service Accomplishments

Program 1

Expenses: $65,098,232 Revenue: $64,902,616

HUDSON VALLEY CARDIOVASCULAR PRACTICE, PC (HVCP) PROVIDE CARDIOVASCULAR CARE TO PATIENTS IN THE MID-HUDSON VALLEY AND NORTHWEST CONNECTICUT, WITH APPROXIMATELY 12 LOCATIONS. 89,552 PATIENTS DURING...

HUDSON VALLEY CARDIOVASCULAR PRACTICE, PC (HVCP) PROVIDE CARDIOVASCULAR CARE TO PATIENTS IN THE MID-HUDSON VALLEY AND NORTHWEST CONNECTICUT, WITH APPROXIMATELY 12 LOCATIONS. 89,552 PATIENTS DURING FISCAL YEAR 2024 307,755 VISITS DURING FISCAL YEAR 2024 $245,256 - CHARITY CARE DURING FISCAL YEAR 2024 HVCP SERVES INDIVIDUALS OF ALL INCOME LEVELS AND FOLLOWS THE FINANCIAL ASSISTANCE POLICY ESTABLISHED BY ITS PARENT ORGANIZATION, NUVANCE HEALTH, AND FOLLOWED BY VASSAR BROTHERS MEDICAL CENTER, NORTHERN DUTCHESS HOSPITAL, PUTNAM HOSPITAL AND SHARON 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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $431

Program Service Revenue $64,832,515

Investment Income $5,406

Other Revenue $70,101

TOTAL REVENUE $64,908,453

Expense Breakdown

Grants Paid $0

Salaries & Benefits $59,288,837

Fundraising Expenses $0

Program Expenses $65,098,232

Other Expenses $7,113,277

TOTAL EXPENSES $66,402,114

Year-over-Year Comparison

	2023	2022	Change
Revenue	$64,908,453	$55,992,836	+0.2%
Expenses	$66,402,114	$60,860,308	+0.1%
Net Income	$-1,493,661	$-4,867,472	-0.7%

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

N/A

Employees

237

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

$3,088,612

Total Directors

$1,438,820

Key Employees

$1,584,613

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHRISTOPHER M LEHRACH MD	HVCP PRES/CHIEF PHYSICIAN EXECUTIVE	12.0	Officer Director	$0	$64,150	$1,438,820
DANIEL DEBARBA	CHIEF FINANCIAL OFFICER; TREASURER	2.0	Officer	$0	$175,627	$1,649,792
KELLY STOCK	VP HEART & VASCULAR INSTITUTE	20.0	Key Emp	$0	$32,888	$423,235
MARK K WARSHOFSKY MD	SVP & SYS. CHAIRMAN HEART & VASC. INST.	20.0	Key Emp	$0	$63,729	$1,161,378
ALI HAMMOUD MD	PHYSICIAN CLINICAL	40.0	Highest	$1,163,775	$47,249	$1,211,024
ANTHONY J PATRELLO MD	PHYSICIAN INTERVENTIONAL	40.0	Highest	$1,178,565	$64,150	$1,242,715
JOSEPH W CHRISTIANA MD	PHYSICIAN- CLINICAL	40.0	Highest	$1,144,832	$50,191	$1,195,023
M ZUBAIR JAFAR MD	PHYSICIAN INTERVENTIONAL	40.0	Highest	$1,166,791	$67,506	$1,234,297
RAJEEV L NARAYAN MD	PHYSICIAN INTERVENTIONAL	40.0	Highest	$1,187,667	$66,550	$1,254,217
DANIEL J O'DEA MD	FORMER PRESIDENT	40.0		$512,281	$54,644	$566,925
DENISE GEORGE	FORMER CORPORATE SECRETARY	0.0		$0	$39,779	$792,314

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	$64,908,453	$66,402,114	$83,420,996	$-1,493,661
2023	$55,992,836	$60,860,308	$57,956,633	$-4,867,472
2022	$55,077,693	$53,249,154	$37,454,411	$1,828,539
2021	$54,008,950	$50,963,597	$50,537,643	$3,045,353
2020	$43,703,701	$45,035,993	$15,329,648	$-1,332,292
2018	$29,664,750	$41,902,005	$14,982,137	$-12,237,255

Hudson Valley Cardiovascular Practice PC