Overview
What is Long Island College Hosp?
Long Island College Hospital (LICH) was a nonprofit organization that functioned as a hospital, adhering to its mission. In 2011, the hospital ceased operations and entered into an asset purchase agreement with the State University of New York (SUNY). As a part of this agreement, LICH retained cash and patient receivables to settle certain liabilities. The remaining assets, if any, were to be transferred to SUNY upon the completion of the agreement's terms. The hospital's primary focus was on delivering healthcare services to its patients.
Is Long Island College Hosp legitimate?
Long Island College Hosp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Long Island College Hosp submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Long Island College Hosp?
Long Island College Hospital (LICH) operated as a hospital, adhering to its mission, until May 29, 2011. On this day, LICH ceased hospital operations and closed on an Asset Purchase Agreement (APA) with the State University of New York (SUNY). As per the APA, LICH retained cash and patient receivables to settle certain accounts payable and accrued expenses. Upon fulfilling its remaining liabilities, any residual assets, if any, were to be transferred to SUNY. Prior to this closure, LICH provided healthcare services in accordance with its mission. However, the mission statement itself is not provided in the given information.
Who is the CEO of Long Island College Hosp?
Unavailable
What is the revenue of Long Island College Hosp?
Long Island College Hosp's revenue in 2022 was $0.
Who are the executives of Long Island College Hosp and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $2,571,508
- Other: $64,512
- Compensation: $0
- Related: $2,113,585
- Other: $77,093
- Compensation: $0
- Related: $1,517,991
- Other: $32,107
- Compensation: $0
- Related: $541,863
- Other: $56,133
Where can I find the form 990 for Long Island College Hosp?
Long Island College Hosp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Long Island College Hosp
Long Island College Hospital (LICH) once operated as a hospital, adhering to its mission. However, in May 2011, the hospital ceased its operations after it closed on an Asset Purchase Agreement (APA) with the State University of New York (SUNY). As part of this agreement, LICH retained cash and patient receivables to pay off certain accounts payable and accrued expenses. Once these liabilities were satisfied, any remaining assets, if any, were to be transferred to SUNY. This marked a significant change in the operations of LICH, shifting its focus away from hospital services.
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Impact
October, 2024
Long Island College Hospital (LICH) had a significant impact on the healthcare landscape prior to ceasing operations in 2011. As a functioning hospital, LICH served the community by providing essential medical services and care. Its closure marked a pivotal moment in health services within the area, reflecting broader challenges faced by healthcare institutions.
Following the asset purchase agreement with the State University of New York (SUNY), LICH retained crucial financial resources to manage and settle outstanding liabilities. This transition aimed to ensure that any remaining assets could be allocated effectively once all debts were resolved. The hospital's legacy continues to influence healthcare access and policy discussions in New York, emphasizing the importance of sustainable healthcare solutions for urban populations.
This information is meant to be a general summary of Long Island College Hosp. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
Assets and Liabilities:
- Total Assets: $19,073,041
- Total Liabilities: $19,073,041
- Net Assets: $0
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Organization Details
Founding Year
1858
Phone
(646) 605-4224Main Address
150 EAST 42ND STREET 5 FLOOR, NEW YORK, NY, 100175612
NTEE Category
Code: E220 - Health
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