Overview
What is Medical Debt Resolution Inc?
Medical Debt Resolution Inc is a New York-based nonprofit organization, specifically located at 28-07 Jackson Ave, 5th Floor, Long Island City, NY 11101. The mission of this organization is to relieve individuals from the burden of medical debt. They target individuals earning 400% or less than the federal poverty level or those carrying a medical debt that exceeds 5% of their estimated annual household gross income. The organization's activities center around locating, acquiring, and abolishing medical debts to bring financial relief to those in need. With a workforce of 20 employees, they are dedicated to ending medical debt.
Official website here: www.ripmedicaldebt.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97% (Four-Star out of Four Stars)
Medical Debt Resolution Inc has achieved a high rating of 97% from Charity Navigator, reflecting its strong accountability and financial health. With an impressive score of 95 in accountability and finance, the organization demonstrates effective management of funds. Its program expense ratio of 81.52% indicates that a significant portion of its budget is directed towards fulfilling its mission.
The organization excels in impact evaluation and community engagement, scoring 100% in both areas. This highlights its commitment to measuring the effectiveness of its programs and actively seeking and utilizing feedback from stakeholders. Additionally, it boasts a robust leadership structure, achieving a perfect score in leadership and adaptability, which underscores its strategic planning capabilities.
While the overall metrics are highly favorable, the data does not indicate any significant limitations or areas of concern, suggesting that Medical Debt Resolution Inc is effectively fulfilling its mission while maintaining strong operational standards.
This AI summary has been generated from information found on Charity Navigator.
Is Medical Debt Resolution Inc legitimate?
Medical Debt Resolution Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Medical Debt Resolution 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: $822,171
Professional Fundraising Fees: $1,079,000
Other Salaries and Wages: $347,554
For more financial information, click here
Official website here: www.ripmedicaldebt.org
What is the mission statement of Medical Debt Resolution Inc?
Medical Debt Resolution Inc is dedicated to alleviating the burden of medical debt for individuals. The organization's mission is to eliminate medical debt for people earning 400% or less than the federal poverty level, or those carrying a debt exceeding 5% of their estimated annual household gross income. By locating, acquiring, and abolishing medical debt, Medical Debt Resolution Inc aims to bring relief to those struggling with overwhelming medical expenses.
Official website here: www.ripmedicaldebt.org
Who is the CEO of Medical Debt Resolution Inc?
Allison Sesso is the Ceo & President of Medical Debt Resolution Inc. The CEO's salary of Medical Debt Resolution Inc is $290,193 and their total compensation is $313,176.
Official website here: www.ripmedicaldebt.org
What is the revenue of Medical Debt Resolution Inc?
Medical Debt Resolution Inc's revenue in 2022 was $42,872,028.
Official website here: www.ripmedicaldebt.org
Who are the executives of Medical Debt Resolution Inc and what are their salaries?
The average compensation at Medical Debt Resolution Inc during 2022 was $58,486. There are 20 employees and 13 volunteers at Medical Debt Resolution Inc.
Here are 22 key members and their salaries (Medical Debt Resolution Inc's CEO's salary is $290,193 and their total compensation is $313,176):
- Compensation: $290,193
- Related: $0
- Other: $22,983
- Compensation: $261,893
- Related: $0
- Other: $29,726
- Compensation: $200,587
- Related: $0
- Other: $16,789
- Compensation: $153,183
- Related: $0
- Other: $27,723
- Compensation: $133,802
- Related: $0
- Other: $11,717
- Compensation: $117,891
- Related: $0
- Other: $22,379
- Compensation: $122,500
- Related: $0
- Other: $2,400
- Compensation: $120,150
- Related: $0
- Other: $4,568
- Compensation: $34,365
- Related: $0
- Other: $0
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Official website here: www.ripmedicaldebt.org
Where can I find the form 990 for Medical Debt Resolution Inc?
Medical Debt Resolution Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ripmedicaldebt.org
Learn more at the official website: www.ripmedicaldebt.org
Mission Statement of Medical Debt Resolution Inc
Medical Debt Resolution Inc, a mission-driven organization, is committed to eradicating medical debt for individuals who earn 400% or less than the federal poverty level or have medical debt constituting more than 5% of their estimated annual household gross income. In simpler terms, this nonprofit aims to provide relief from burdensome medical debts for qualifying individuals.
The organization's primary focus is on locating, acquiring, and abolishing medical debts. It targets individuals who are struggling financially due to overwhelming medical bills, offering them the opportunity to be free from this financial burden. By effectively addressing medical debt, Medical Debt Resolution Inc aspires to improve the financial well-being of those it serves, allowing them to focus on their health and overall welfare.
Moreover, Medical Debt Resolution Inc's efforts are geared towards extending a helping hand to those most in need. By working diligently to alleviate medical debt, this organization plays a crucial role in providing relief and financial stability to individuals who might otherwise be buried under mounting medical bills. This, in turn, enables them to focus on their recovery and rebuilding their lives.
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Impact
October, 2024
Medical Debt Resolution Inc actively works to alleviate the burden of medical debt for individuals facing financial hardships. By identifying and acquiring medical debt for those earning at or below 400% of the federal poverty level, or who have a medical debt surpassing 5% of their estimated annual gross income, the organization plays a critical role in providing relief. This initiative helps vulnerable populations in Long Island City, NY, by locating, acquiring, and abolishing overwhelming medical debt, significantly improving their financial stability and overall quality of life. The impact extends beyond individual cases, contributing to broader social welfare by reducing the strain of medical debt on communities.
This information is meant to be a general summary of Medical Debt Resolution 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: $509,218
- Gross Receipts: $42,951,867
Assets and Liabilities:
- Total Assets: $88,257,653
- Total Liabilities: $968,146
- Net Assets: $87,289,507
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Organization Details
Founding Year
2014
Phone
(844) 637-3328Principal Officer
Allison Sesso
Main Address
28-07 JACKSON AVE 5TH FL, LONG ISLAND CITY, NY, 11101
Website
www.ripmedicaldebt.orgNTEE Category
Code: P50 - Human services
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