Overview
What is Wmc-New York Inc?
Wmc-New York Inc, based in Valhalla, New York, serves as a supportive entity for Westchester Medical Center (WMC) and its affiliated institutions. It holds memberships in various organizations and is the sole proprietor of several businesses, including an off-shore captive insurance company. Wmc-New York Inc operates with a charitable, scientific, and educational purpose, furthering the objectives and activities of WCHCC, which encompasses Westchester Medical Center, Maria Fareri Children's Hospital, and The Behavioral Health Center at Westchester. By engaging in various initiatives, Wmc-New York Inc contributes significantly to the overall mission and growth of the Westchester County Health Care Corporation.
Official website here: www.westchestermedicalcenter.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Wmc-New York Inc has received a two-star rating from Charity Navigator, indicating that while the organization demonstrates some accountability and financial responsibility, there are significant areas for improvement. The score of 66% reflects strengths such as a comprehensive audit of financial statements and a strong program expense ratio, showcasing a commitment to its mission-related activities. However, the lack of independent board members and issues related to the transparency of financial documents highlight critical weaknesses in governance.
The organization's governance practices raise concerns, particularly with a score of 0 for majority independent board members and independent board size. This lack of independent oversight could impact decision-making and overall accountability. Additionally, the failure to post tax forms on the nonprofit's website further detracts from transparency efforts, which are essential for building trust with donors and the public.
Despite these challenges, Wmc-New York Inc demonstrates a commitment to ethical practices, with high scores in conflict of interest and whistleblower policies, suggesting a framework for responsible management. To enhance its rating and effectiveness, the organization should focus on improving its governance structure and transparency measures.
This AI summary has been generated from information found on Charity Navigator.
Is Wmc-New York Inc legitimate?
Wmc-New York Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Wmc-New York Inc 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: $79,606,256
For more financial information, click here
Official website here: www.westchestermedicalcenter.com
What is the mission statement of Wmc-New York Inc?
Wmc-New York Inc is a charitable organization primarily focused on supporting and furthering the objectives, purposes, and activities of Westchester County Health Care Corp. This includes entities such as Westchester Medical Center, The Behavioral Health Center at Westchester, Maria Fareri Children's Hospital, and Midhudson Regional Hospital. Additionally, the organization acts as a holding corporation for both for-profit and not-for-profit corporations, including a not-for-profit captive insurance corporation, which serves to satisfy professional liability claims and other insurance-related matters. In essence, Wmc-New York Inc plays a crucial role in enhancing the capabilities and resources of Westchester County Health Care Corp through various charitable, scientific, and educational initiatives.
Official website here: www.westchestermedicalcenter.com
Who is the CEO of Wmc-New York Inc?
Unavailable
Official website here: www.westchestermedicalcenter.com
What is the revenue of Wmc-New York Inc?
Wmc-New York Inc's revenue in 2022 was $112,433,761.
Official website here: www.westchestermedicalcenter.com
Who are the executives of Wmc-New York Inc and what are their salaries?
The average compensation at Wmc-New York Inc during 2022 was $51,458. There are 1547 employees at Wmc-New York Inc.
Here are 12 key members and their salaries:
- Compensation: $0
- Related: $2,333,526
- Other: $70,137
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $1,062,607
- Other: $47,287
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $3,405,987
- Other: $57,096
- Compensation: $0
- Related: $859,127
- Other: $89,868
- Compensation: $196,677
- Related: $0
- Other: $61,626
- Compensation: $193,749
- Related: $0
- Other: $65,188
- Compensation: $178,560
- Related: $0
- Other: $47,957
- Compensation: $190,959
- Related: $0
- Other: $69,544
- Compensation: $226,552
- Related: $0
- Other: $29,552
- Compensation: $0
- Related: $552,051
- Other: $30,807
Official website here: www.westchestermedicalcenter.com
Where can I find the form 990 for Wmc-New York Inc?
Wmc-New York Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.westchestermedicalcenter.com
Learn more at the official website: www.westchestermedicalcenter.com
Mission Statement of Wmc-New York Inc
Wmc-New York Inc, a charitable organization, operates with the primary objective of advancing the goals, missions, and objectives of Westchester County Health Care Corp. This nonprofit entity is dedicated to supporting various activities that enhance and contribute to the charitable, scientific, and educational pursuits of Westchester Medical Center, The Behavioral Health Center at Westchester, Maria Fareri Children's Hospital, Midhudson Regional Hospital, and the Westchester Medical Center Foundation, Inc.
Wmc-New York Inc serves a significant role as a holding corporation, accommodating both for-profit and not-for-profit corporations. Among these corporations is a not-for-profit captive insurance company. The purpose of this insurance company is to accumulate, hold, and function as an insurance company to address professional liability claims and other claims for Westchester County Health Care Corp's entities. By taking on this responsibility, Wmc-New York Inc plays a crucial part in ensuring the continued operation and protection of these health care organizations.
In summary, Wmc-New York Inc is a pivotal figure in the Westchester County Health Care Corp network. Its mission is to collaborate and support the activities of the various health care entities under its umbrella, including providing a holding corporation for insurance purposes. This enables the health care organizations to focus on their primary objectives, which include delivering quality health care services to their communities.
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Impact
October, 2024
Wmc-New York Inc significantly enhances the healthcare landscape in the Hudson Valley region, particularly supporting the Westchester County Health Care Corporation and its affiliated facilities. By engaging in diverse activities that promote the missions and operations of institutions such as Westchester Medical Center, Maria Fareri Children's Hospital, and the Behavioral Health Center at Westchester, WMC NY plays a critical role in ensuring that these vital healthcare services are well-resourced and innovative.
Furthermore, Wmc-New York Inc is instrumental in establishing a comprehensive network of healthcare delivery, which includes operating as a centralized services provider through its Center for Regional Healthcare Innovation. This effort aims to evaluate and implement best practices in healthcare delivery, contributing to improved patient outcomes across the region.
In addition, WMC NY manages various corporate entities, such as offshore insurance operations and professional employer organizations, effectively streamlining administrative and operational frameworks. This infrastructure not only enhances the financial health of the healthcare system but also safeguards it against professional liability claims, thereby allowing healthcare facilities to focus on delivering quality patient care.
Overall, Wmc-New York Inc's impact is profound, fostering a healthier community by ensuring robust healthcare infrastructure, promoting innovation in healthcare delivery, and mitigating financial risks for the organizations it supports.
This information is meant to be a general summary of Wmc-New York Inc. 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.
- Investment Income: -$1,048,545
- Program Service Revenue: $113,714,402
- Gross Receipts: $184,435,973
Assets and Liabilities:
- Total Assets: $42,823,340
- Total Liabilities: $44,605,847
- Net Assets: -$1,782,507
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MANAGEMENT FEES
Revenue
$111,299,090
RENTAL REVENUE
Revenue
$2,415,312
Organization Details
Founding Year
1999
Phone
(914) 493-2187Main Address
100 WOODS RD TAYLOR PAVILION M222, VALHALLA, NY, 10595
NTEE Category
Code: E20 - Health
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