Healthfirst Phsp Inc
98% goes to programs
Healthfirst Phsp Inc is a 501(c)(3) organization based in New York, New York, registered in 1995, with $12,172,591,281 in FY2024 revenue. CharityIndex grades it A, and it directs about 98% of spending to programs.
100 Church St Fl 18, New York, NY, 10007 EIN 13-3783732 Since 1995
Revenue (FY2024)
$12.2B
▲ 0.7% vs prior year
Health median: $840K
Expenses (FY2024)
$12.0B
Net assets
$1.6B
Employees
0
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
A+Program efficiency40% of the rating98% to programs
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Healthfirst Phsp Inc: 98% to programs earns a A+ on this criterion. See the exact thresholds →
BFinancial health25% of the rating2 mo reserves · +2% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Healthfirst Phsp Inc: 2 mo reserves · +2% margin earns a B on this criterion. See the exact thresholds →
AGovernance25% of the rating5 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Healthfirst Phsp Inc: 5 of 6 checks met earns a A on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Healthfirst Phsp Inc: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
Improve the health & well-being of under- served populations by providing gov't purchased prepaid healthcare coverage to individuals covered under medicaid and other health progs.
What they do
Health and recovery plan (harp): healthfirst phsp, inc. (phsp) is a licensed prepaid health services plan that provides comprehensive prepaid health care coverage to medicaid eligible individuals that have serious behavioral health diagnoses. the harp program was introduced in 2015 and is a managed care program within medicaid. for 2024 there were 38,017 members enrolled in phsp's harp program.
Essential plan (ep): healthfirst phsp, inc. (phsp) is a licensed prepaid health services plan that provides comprehensive prepaid health care coverage to beneficiaries of government health care coverage programs. ep is a program which covers individuals who would otherwise be eligible for either certain categories of expanded medicaid coverage or significant subsidies for qualified health plan (qhp) for little or no member contribution. for 2024 there were 554,466 members enrolled in phsp's ep plan.
Contact & location
- Address
- 100 Church St Fl 18, New York, NY, 10007
- City
- New York
- State
- New York
- Category
- Health Care
- Subcategory
- Clinics & Primary Care
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $3.3B (FY2013) to $12.2B (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $2.7BNet assets $1.6B
Operating margin
1.6%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$4.2B
Total liabilities
$2.7B
Net assets
$1.6B
Salaries & benefits
$0
0% of expenses
Board members
6
2 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $12,172,591,281▲0.7% | $11,974,155,917▲0.4% | $1,559,175,264▲17.3% | $4,230,712,832▼3.2% | 990 |
| 2023 | $12,085,677,439▲7.2% | $11,924,402,575▲6.3% | $1,329,454,663▲20.5% | $4,369,670,653▲31.0% | 990 |
| 2022 | $11,273,526,910▲6.5% | $11,216,726,379▲6.7% | $1,103,259,412▼2.6% | $3,335,789,304▲0.4% | 990 |
| 2021 | $10,588,698,647▲20.2% | $10,515,289,387▲20.7% | $1,132,775,214▲7.7% | $3,321,440,434▲15.7% | 990 |
| 2020 | $8,806,000,909▲1.2% | $8,708,873,824▲0.4% | $1,051,682,566▲14.6% | $2,870,766,607▲24.5% | 990 |
| 2019 | $8,698,913,059▲6.6% | $8,678,457,116▲7.5% | $917,918,323▲6.8% | $2,305,850,904▲2.8% | 990 |
| 2018 | $8,158,924,588▲8.1% | $8,075,037,421▲7.5% | $859,483,108▲13.3% | $2,243,449,792▲11.5% | 990 |
| 2017 | $7,545,520,325▲25.5% | $7,509,745,485▲24.3% | $758,316,138▲60.2% | $2,012,360,481▲26.4% | 990 |
| 2016 | $6,011,909,761▲17.1% | $6,044,053,170▲18.4% | $473,476,203▲19.0% | $1,591,670,184▲14.3% | 990 |
| 2015 | $5,133,153,576▲23.8% | $5,103,578,899▲23.0% | $397,960,670▲25.5% | $1,392,900,428▲38.5% | 990 |
| 2014 | $4,147,859,743▲25.4% | $4,148,812,838▲26.2% | $317,093,767▲25.3% | $1,005,634,686▲27.3% | 990 |
| 2013 | $3,307,259,420 | $3,287,232,831▲33.3% | $253,039,747▲25.3% | $789,982,541▲30.5% | 990 |
| 2012 | — | $2,466,103,551▲42.7% | $202,023,203▲20.0% | $605,495,403▲22.2% | 990 |
| 2011 | — | $1,728,069,509▲25.7% | $168,284,810▲1.9% | $495,534,814▲21.9% | 990 |
| 2010 | — | $1,375,258,305 | $165,096,060 | $406,633,994 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Barbara Montresor | Svp Comm & Marketing | 1 | — |
| David Evangelista | Director | 1 | — |
| Derek Lam | Vp Delivery System Innovation | 1 | — |
| Errol Pierre | Svp State Programs | 1 | — |
| Gerald T Sweeney | Svp Chief Information Officer | 1 | — |
| Jay A Schechtman | Chief Medical Officer | 1 | — |
| Jennifer Cohen | Svp Medicare | 1 | — |
| John J Bermel | Chief Financial Officer | 1 | — |
| Karen Weinseiss | Svp Operations | 1 | — |
| Kathryn Howell | Clo and General Counsel | 1 | — |
| Linda Tiano | Clo/secretary Ended 6/2023 | 0 | — |
| Patricia J Wang | President and Ceo | 1 | — |
| Robert P Blanchard | Treasurer | 1 | — |
| Sean Kane | Chief Hr Officer | 1 | — |
| Stephen Rosenthal | Director | 1 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Nyc Health and Hospital Corp | Medical/hospital | $862,999,143 |
| Montefiore Medical Center | Medical/hospital | $851,382,248 |
| Cvs Pharmacy Inc | Pharmacy | $751,867,388 |
| Ny Presbyterian Hosp-columbia | Medical/hospital | $731,702,977 |
| Nyu Lutheran Family Health Center | Medical/hospital | $353,565,991 |
Grants received · $280K total
1 grant to Healthfirst Phsp Inc totaling $280K, reported by foundations on their Schedule I filings.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Robin Hood Foundation | Poverty relief | 2024 | $280,000 |
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Frequently asked questions
- Is Healthfirst Phsp Inc a legitimate nonprofit?
- Yes. Healthfirst Phsp Inc is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 13-3783732, based in New York, New York. Donations are tax-deductible.
- What is Healthfirst Phsp Inc's EIN?
- Healthfirst Phsp Inc's Employer Identification Number (EIN) is 13-3783732.
- How much revenue does Healthfirst Phsp Inc report?
- Healthfirst Phsp Inc reported $12,172,591,281 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Healthfirst Phsp Inc's spending goes to programs?
- Healthfirst Phsp Inc spends about 98% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Healthfirst Phsp Inc have?
- CharityIndex grades Healthfirst Phsp Inc A, based on program efficiency and fundraising cost.
- How much does Healthfirst Phsp Inc's highest-paid employee make?
- The highest reported compensation on Healthfirst Phsp Inc's latest Form 990 is $0, paid to Barbara Montresor (Svp Comm & Marketing).
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Data for Healthfirst Phsp Inc (EIN 13-3783732) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.