Platinum Home Care Health Benefits Trust

EIN: 876504428 Mutual Benefit

Brooklyn, NY

Total Revenue
$3,754,288
Total Expenses
$6,510,374
Total Assets
$1,011,908
Net Assets
$-1,593,048
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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
2021
Legal Domicile
NY
Phone
7186160800
Tax Period
2023-09-01 to 2024-08-31

Platinum Home Care Health Benefits Trust, founded in 2021, is a community nonprofit in the Mutual Benefit sector that reported $3.8M in total revenue in fiscal year 2023. Revenue fell 22% from the prior year — a significant decline worth monitoring. Expenses of $6.5M exceeded revenue, resulting in a 73% operating deficit.

Mission

TO MAINTAIN THE ASSETS OF THE BENEFIT PLAN KNOWN AS the Platinum Health Care Benefits Trust.

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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 $0
Program Service Revenue $3,754,288
Investment Income $0
Other Revenue $0
TOTAL REVENUE $3,754,288

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $3,036,206
TOTAL EXPENSES $6,510,374

Year-over-Year Comparison

2023 2022 Change
Revenue $3,754,288 $4,825,319 -0.2%
Expenses $6,510,374 $4,371,854 +0.5%
Net Income $-2,756,086 $453,465 -7.1%
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
2
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
0
$0
Total Directors
2
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Joel Goldberger Trustee 5.00
Director
$0 $0 $0
Abe Goldberger Trustee 1.00
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 $3,754,288 $6,510,374 $1,011,908 $-2,756,086
2023 $4,825,319 $4,371,854 $1,948,238 $453,465
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