MOUNT CARMEL HEALTH PLAN OF NEW YORK INC

EIN: 833278543

COLUMBUS, OH

Total Revenue
$4,147,541
Total Expenses
$3,145,851
Total Assets
$27,530,233
Net Assets
$26,258,540
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Financial Trends

Organization Details

Formation Year
2019
Legal Domicile
NY
Principal Officer
JACK RANDOLPH
Phone
6145464000
Tax Period
2024-01-01 to 2024-12-31

MOUNT CARMEL HEALTH PLAN OF NEW YORK INC, founded in 2019, is a community nonprofit that reported $4.1M in total revenue in fiscal year 2024. Revenue surged 48% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.0M, a strong 24% operating margin.

Mission

WE, MOUNT CARMEL AND TRINITY HEALTH, SERVE TOGETHER IN THE SPIRIT OF THE GOSPEL AS A COMPASSIONATE AND TRANSFORMING HEALING PRESENCE WITHIN OUR COMMUNITIES.MOUNT CARMEL HEALTH PLAN OF NEW YORK IS A MEMBER OF MOUNT CARMEL AND TRINITY HEALTH.

Program Service Accomplishments

Program 1
Expenses: $2,498,645 Revenue: $3,145,559

MOUNT CARMEL HEALTH PLAN OF NEW YORK WAS FORMED IN 2019 FOR THE PURPOSE OF PROVIDING COMPREHENSIVE HEALTH CARE COVERAGE TO SENIORS IN NEW YORK AS A WHOLLY OWNED SUBSIDIARY OF MOUNT CARMEL HEALTH...

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MOUNT CARMEL HEALTH PLAN OF NEW YORK WAS FORMED IN 2019 FOR THE PURPOSE OF PROVIDING COMPREHENSIVE HEALTH CARE COVERAGE TO SENIORS IN NEW YORK AS A WHOLLY OWNED SUBSIDIARY OF MOUNT CARMEL HEALTH PLAN. IT IS A MEMBER OF THE MOUNT CARMEL HEALTH SYSTEM, A TAX-EXEMPT HEALTH CARE SYSTEM UNDER IRC SECTION 501(C)(3). MOUNT CARMEL HEALTH PLAN OF NEW YORK IS A NONPROFIT ORGANIZATION THAT OFFERS BENEFITS THROUGH A MEDICARE ADVANTAGE PLAN (MEDIGOLD) APPROVED BY THE CENTERS OF MEDICARE AND MEDICAID SERVICES (CMS) THAT REPLACES TRADITIONAL MEDICARE COVERAGE. MEDIGOLD SERVES SENIORS AND OTHER MEDICARE BENEFICIARIES IN EIGHT NEW YORK COUNTIES.MEDIGOLD MEMBERS ELECT TO HAVE MOUNT CARMEL HEALTH PLAN OF NEW YORK (INSTEAD OF THE FEDERAL GOVERNMENT) ADMINISTER THE BENEFITS OF MEDICARE PART A AND PART B, AND MEDIGOLD ALSO OFFERS PHARMACEUTICAL COVERAGE UNDER MEDICARE PART D. MOUNT CARMEL HEALTH PLAN OF NEW YORK IS REQUIRED TO PROVIDE COVERAGE FOR EVERYTHING THAT THE FEDERAL MEDICARE PROGRAM COVERS, PLUS MEDIGOLD ALSO OFFERS ADDITIONAL ITEMS SUCH AS: UNLIMITED INPATIENT HOSPITAL DAYS COVERED AT 100% WITH NO DEDUCTIBLE; OUTPATIENT SURGERY FOR A SMALL CO-PAYMENT; DIAGNOSTIC AND TESTING SERVICES FOR A SMALL CO-PAYMENT; HOME HEALTH CARE AND SKILLED NURSING CARE COVERAGE WHEN NECESSARY; PRESCRIPTION DRUG BENEFITS; PHYSICIAN OFFICE VISITS WITH FIXED COPAYMENTS; AND UNLIMITED GENERIC DRUG COVERAGE.AS AN INTEGRAL PART OF MOUNT CARMEL HEALTH SYSTEM, MOUNT CARMEL HEALTH PLAN OF NEW YORK IS A COMMUNITY-BASED MANAGED HEALTH CARE ORGANIZATION THAT WORKS IN COLLABORATION WITH EMPLOYERS, INDIVIDUAL MEMBERS, PHYSICIANS, HEALTH CARE PROVIDERS, AND COMMUNITY AND GOVERNMENTAL AGENCIES TO CONTINUALLY IMPROVE THE HEALTH OF ITS MEMBERS BY PROVIDING EXCEPTIONAL COVERAGE AND ACCESS TO HIGH QUALITY AND COST-EFFECTIVE CARE.PLEASE VISIT OUR WEBSITE FOR ADDITIONAL INFORMATION:WWW.THPMEDICARE.ORG/NEW-YORK

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $3,145,559
Investment Income $1,001,982
Other Revenue $0
TOTAL REVENUE $4,147,541

Expense Breakdown

Grants Paid $0
Salaries & Benefits $329,568
Fundraising Expenses $0
Program Expenses $2,498,645
Other Expenses $2,816,283
TOTAL EXPENSES $3,145,851

Year-over-Year Comparison

2024 2023 Change
Revenue $4,147,541 $2,804,082 +0.5%
Expenses $3,145,851 $2,506,029 +0.3%
Net Income $1,001,690 $298,053 +2.4%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
3
Independent Members
N/A
Employees
N/A
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
5
$2,657,449
Total Directors
3
$2,142,585
Key Employees
2
$854,500
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JACK RANDOLPH DIRECTOR; CHAIR; PRESIDENT & CEO 2.00
Officer Director
$0 $198,404 $1,121,281
ANDY PRIDAY MOUNT CARMEL CFO 2.00
Officer
$0 $35,089 $584,670
MARK MURPHY DIR;VP & CHIEF STRAT OFFICER, NY REG 2.00
Director
$0 $63,416 $577,276
GREG WISE MD MEDICAL DIRECTOR MCHP 2.00
Key Emp
$0 $32,473 $466,792
DAVID VIS DIR; SEC;TREAS;VP FINANCE OPERATIONS 2.00
Officer Director
$0 $44,341 $444,028
CARLOS ALVARADO CHIEF ADMINISTRATIVE OFFICER MCHP 2.00
Key Emp
$0 $54,963 $387,708
TRISHA WHETSTONE ASST SECRETARY; MCHS ASSOC COUNSEL 2.00
Officer
$0 $44,947 $264,412
FATOU NDOYE ASST TREASURER; MCHP CONTROLLER 2.00
Officer
$0 $49,873 $243,058
GINO LOGIUDICE SALES MANAGER 40.00
Highest
$0 $40,676 $188,365
CHRIS BRINO MARKET MANAGER 40.00
Highest
$0 $3,581 $136,870
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 $4,147,541 $3,145,851 $27,530,233 $1,001,690
2023 $2,804,082 $2,506,029 $26,180,291 $298,053
2022 $2,848,324 $2,769,650 $24,800,697 $78,674
2021 $31,278 $1,550 $27,028,993 $29,728
2020 $338,910 $1,470 $22,127,078 $337,440
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