Overview
What is Innovative Care Solutions Inc?
Innovative Care Solutions Inc is a nonprofit organization based in Brooklyn, New York, specifically at 1817 60th Street, first floor. Their primary mission is to manage pooled Medicaid trusts service programs, benefiting disabled and special needs individuals in the state of New York, as per the NY Social Services Law Section 366 (2) (B) (III). Beyond this, the organization also provides various social service programs to aid these individuals, contributing to their overall well-being. Additionally, Innovative Care Solutions Inc plays a role in promoting Orthodox Jewish religious education, expanding its scope beyond just healthcare and social services. The organization is staffed by a team of three dedicated individuals.
Official website here: www.icstrustservices.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 51% (One-Star out of Four Star rating)
Innovative Care Solutions Inc has received a One-Star rating from Charity Navigator, indicating significant concerns regarding its accountability and financial practices. The organization scored 51% overall, with particular weaknesses in board independence and the lack of available financial statements. The majority of its board members are not independent, and it holds only one independent board member, which raises questions about oversight and governance.
Despite these issues, the nonprofit demonstrates strengths in some areas, such as its strong commitment to maintaining a conflict of interest policy, a whistleblower policy, and a document retention and destruction policy, which were all fully compliant. Additionally, the organization has a high program expense ratio of 78.98%, suggesting that a substantial portion of its funds is directed towards its programs.
However, the charity's financial transparency is a significant limitation, as it has failed to publish essential financial statements and tax forms on its website. This lack of transparency, combined with an extremely high liabilities to assets ratio of 107,729.93%, could signal potential financial instability and raises concerns for donors considering their support.
This AI summary has been generated from information found on Charity Navigator.
Is Innovative Care Solutions Inc legitimate?
Innovative Care Solutions Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Innovative Care Solutions 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: $252,561
Professional Fundraising Fees: $0
Other Salaries and Wages: $78,000
For more financial information, click here
Official website here: www.icstrustservices.org
What is the mission statement of Innovative Care Solutions Inc?
Innovative Care Solutions Inc is committed to providing various social service programs aimed at benefiting disabled and special needs individuals. Additionally, the organization contributes to promoting Orthodox Jewish religious education. In pursuit of this mission, Innovative Care Solutions manages Pooled Medicaid Trusts Service Programs for the benefit of such individuals in New York, as per the NY Social Services Law Section 366 (2) (B) (III). The organization's activities are primarily focused on catering to the needs of these individuals, offering them essential support and resources while also upholding religious values.
Official website here: www.icstrustservices.org
Who is the CEO of Innovative Care Solutions Inc?
Chaim Pollak is the Ceo of Innovative Care Solutions Inc. The CEO's salary of Innovative Care Solutions Inc is $120,000 and their total compensation is $135,820.
Official website here: www.icstrustservices.org
What is the revenue of Innovative Care Solutions Inc?
Innovative Care Solutions Inc's revenue in 2022 was $642,109.
Official website here: www.icstrustservices.org
Who are the executives of Innovative Care Solutions Inc and what are their salaries?
The average compensation at Innovative Care Solutions Inc during 2022 was $110,187. There are 3 employees and 1 volunteer at Innovative Care Solutions Inc.
Here are 3 key members and their salaries (Innovative Care Solutions Inc's CEO's salary is $120,000 and their total compensation is $135,820):
- Compensation: $120,000
- Related: $0
- Other: $15,820
- Compensation: $102,000
- Related: $0
- Other: $14,740
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.icstrustservices.org
Where can I find the form 990 for Innovative Care Solutions Inc?
Innovative Care Solutions Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.icstrustservices.org
Learn more at the official website: www.icstrustservices.org
Mission Statement of Innovative Care Solutions Inc
Innovative Care Solutions Inc, as a nonprofit organization, is dedicated to providing a range of social service programs. Its primary mission is to support individuals with disabilities and special needs, offering them the necessary assistance they require. In addition to this, Innovative Care Solutions Inc also plays a significant role in promoting Orthodox Jewish religious education. The organization generates revenue through managing Pooled Medicaid Trusts service programs, specifically for disabled and special needs individuals in New York, as per the NY Social Services Law Section 366 (2) (B) (III). This mission statement highlights Innovative Care Solutions Inc's commitment to serving its community and ensuring that individuals with unique needs have access to the resources they require.
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Impact
July, 2024
Innovative Care Solutions Inc, through its various social service programs, has a significant impact on the lives of disabled and special needs individuals in New York. By managing pooled Medicaid trusts, the organization provides much-needed financial support and assistance to those in need. Additionally, their efforts in promoting Orthodox Jewish religious education contribute to the cultural and spiritual enrichment of the community. Overall, Innovative Care Solutions Inc plays a vital role in improving the quality of life and support for vulnerable populations in both the social services sector and the religious education realm.
This information is meant to be a general summary of Innovative Care Solutions 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.
- Program Service Revenue: $642,109
- Gross Receipts: $642,109
Assets and Liabilities:
- Total Assets: $147
- Total Liabilities: $158,363
- Net Assets: -$158,216
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MANAGEMENT FEE INCOME
Revenue
$642,109
Organization Details
Founding Year
2017
Phone
(718) 208-1743Principal Officer
Chaim Pollak
Main Address
1817 60TH ST FIRST FLOOR, BROOKLYN, NY, 11204
Website
www.icstrustservices.orgNTEE Category
Code: P82 - Human services
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