Overview
What is The Long Island College Hospital Malpractice Trust?
The Long Island College Hospital Malpractice Trust is a nonprofit entity established with a specific purpose. Its funds are intended to settle both medical malpractice and general liability cases that arose between July 1, 2004, and May 29, 2011, at Long Island College Hospital (LICH). The trust was created following LICH's asset conveyance to the State University of New York (SUNY) Downstate, an event that took place with court approval on May 29, 2011. The primary role of this trust is to manage and settle these cases, thus resolving any legal liabilities related to LICH's operations during that timeframe.
Is The Long Island College Hospital Malpractice Trust legitimate?
The Long Island College Hospital Malpractice Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Long Island College Hospital Malpractice Trust 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
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What is the mission statement of The Long Island College Hospital Malpractice Trust?
The Long Island College Hospital Malpractice Trust's primary purpose is to manage and settle both medical malpractice and general liability claims that were incurred by Long Island College Hospital during the period from July 1, 2004, to May 29, 2011. This trust was established as a result of Long Island College Hospital's asset transfer to SUNY Downstate, which was approved by the court. The trust's main objective is to resolve these outstanding legal cases efficiently.
Who is the CEO of The Long Island College Hospital Malpractice Trust?
Nancy Margro is the Trustee of The Long Island College Hospital Malpractice Trust.
What is the revenue of The Long Island College Hospital Malpractice Trust?
The Long Island College Hospital Malpractice Trust's revenue in 2022 was $355,686.
Who are the executives of The Long Island College Hospital Malpractice Trust and what are their salaries?
There is 1 key member and their salary:
- Compensation: $125,000
- Related: $0
- Other: $0
Where can I find the form 990 for The Long Island College Hospital Malpractice Trust?
The Long Island College Hospital Malpractice Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of The Long Island College Hospital Malpractice Trust
The Long Island College Hospital Malpractice Trust is established with a specific purpose. This organization is tasked with managing both the medical malpractice and general liability cases that Long Island College Hospital incurred between July 1, 2004, and May 29, 2011. The Malpractice Trust operates under court approval, and its primary role is to oversee the resolution of these cases. The aim is to efficiently handle these cases, ensuring that all legal matters related to medical malpractice and liability during this period are concluded in an orderly manner. The Trust plays a crucial role in finalizing these cases following Long Island College Hospital's transfer of its assets to Suny Downstate in May 2011.
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Impact
October, 2024
The Long Island College Hospital Malpractice Trust plays a crucial role in addressing past medical malpractice and general liability cases linked to Long Island College Hospital (LICH) from July 1, 2004, to May 29, 2011. By allocating funds specifically for the resolution of these cases, the Trust ensures that patients affected during that period receive financial support and compensation for any grievances experienced.
This initiative contributes to the broader legal ecosystem by facilitating the runoff of medical malpractice claims, thereby providing a structured means to address liabilities incurred before LICH's transition of assets to SUNY Downstate. It alleviates potential burdens on both the hospital system and affected individuals, promoting accountability and fair treatment in the healthcare sector. Additionally, the existence of this trust reinforces the commitment to patient rights and safety by ensuring that previous issues are properly managed and resolved.
This information is meant to be a general summary of The Long Island College Hospital Malpractice Trust. 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: $355,686
- Gross Receipts: $74,794,135
Assets and Liabilities:
- Total Assets: $30,022,935
- Total Liabilities: $30,022,935
- Net Assets: $0
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Organization Details
Founding Year
2011
Phone
(212) 643-8100Principal Officer
Nancy Margro
Main Address
14 PENN PLAZA 1105, NEW YORK, NY, 10122
NTEE Category
Code: E111 - Health
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