Civic Intelligence

Garnet Health Doctors PC

990 • Fiscal year 2016 • EIN 37-1743537

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 14, 2017

707 East Main StreetMiddletown, NY 10940

(845) 333-7575

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

89th percentile

1.36x

Higher debt load relative to assets than 89% of similar nonprofits.

2016 filings • NTEE E • $25M-$50M nonprofits • Source year 2016

Liabilities / Revenue

34th percentile

0.20x

Higher debt load relative to revenue than 34% of similar nonprofits.

2016 filings • NTEE E • $25M-$50M nonprofits • Source year 2016

Net Margin

35th percentile

-3.6%

Higher net margin than 35% of similar nonprofits.

2016 filings • NTEE E • $25M-$50M nonprofits • Source year 2016

Top Officer Pay

61st percentile

$705,548

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 2.0% of source-year revenue.

2016 filings • NTEE E • $25M-$50M nonprofits • Source year 2016

Asset Growth

87th percentile

21%

Faster asset growth than 87% of similar nonprofits.

2016 filings • NTEE E • $25M-$50M nonprofits • Annualized from 2015 to 2016

Revenue Growth

93rd percentile

45%

Faster revenue growth than 93% of similar nonprofits.

2016 filings • NTEE E • $25M-$50M nonprofits • Annualized from 2015 to 2016

Assets

Up

$5,152,161

Up $880,625 (+21%) from 2015

Net Assets

Down

-$1,865,631

Down $1,251,651 (-204%) from 2015

Liabilities

Up

$7,017,792

Up $2,132,276 (+44%) from 2015

Revenue

Up

$34,665,605

Up $10,686,852 (+45%) from 2015

Expenses

Up

$35,917,256

Up $11,258,537 (+46%) from 2015

Net Income

Down

-$1,251,651

Down $571,685 (-84%) from 2015

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$100M$50M$0-$50MAssets 2014: $1,514,534Liabilities 2014: $1,448,548Net Assets 2014: $65,9862014Assets 2015: $4,271,536Liabilities 2015: $4,885,516Net Assets 2015: -$613,9802015Assets 2016: $5,152,161Liabilities 2016: $7,017,792Net Assets 2016: -$1,865,6312016Assets 2017: $5,480,414Liabilities 2017: $7,333,813Net Assets 2017: -$1,853,3992017Assets 2018: $14,926,397Liabilities 2018: $16,673,629Net Assets 2018: -$1,747,2322018Assets 2019: $27,469,134Liabilities 2019: $29,125,263Net Assets 2019: -$1,656,1292019Assets 2020: $29,014,072Liabilities 2020: $30,543,686Net Assets 2020: -$1,529,6142020Assets 2021: $50,171,701Liabilities 2021: $51,564,196Net Assets 2021: -$1,392,4952021Assets 2022: $49,674,730Liabilities 2022: $55,078,583Net Assets 2022: -$5,403,8532022Assets 2023: $35,143,227Liabilities 2023: $51,746,771Net Assets 2023: -$16,603,5442023Assets 2024: $32,977,548Liabilities 2024: $59,209,352Net Assets 2024: -$26,231,8042024

Highlighted filing

2016

Assets$5,152,161
Liabilities$7,017,792
Net Assets-$1,865,631

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$100M$50M$0-$50MRevenue 2014: $477,292Expenses 2014: $1,182,306Net Income 2014: -$705,0142014Revenue 2015: $23,978,753Expenses 2015: $24,658,719Net Income 2015: -$679,9662015Revenue 2016: $34,665,605Expenses 2016: $35,917,256Net Income 2016: -$1,251,6512016Revenue 2017: $48,378,362Expenses 2017: $48,378,362Net Income 2017: $02017Revenue 2018: $54,781,666Expenses 2018: $54,781,666Net Income 2018: $02018Revenue 2019: $63,981,217Expenses 2019: $63,981,217Net Income 2019: $02019Revenue 2020: $77,092,624Expenses 2020: $77,092,624Net Income 2020: $02020Revenue 2021: $81,156,131Expenses 2021: $81,156,131Net Income 2021: $02021Revenue 2022: $80,513,518Expenses 2022: $84,663,692Net Income 2022: -$4,150,1742022Revenue 2023: $69,598,965Expenses 2023: $81,939,516Net Income 2023: -$12,340,5512023Revenue 2024: $66,856,280Expenses 2024: $86,627,450Net Income 2024: -$19,771,1702024

Highlighted filing

2016

Revenue$34,665,605
Expenses$35,917,256
Net Income-$1,251,651
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 14, 2017
Return Version
2016v3.1
Gross Receipts
$34,665,605
Mission and Program Overview

Mission

Delivery of primary care and numerous specialty medical care services to patients in the hudson valley of new york. Our mission is to improve the health of our community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$353,377$1,652,744▲ $1,299,367
Accounts Receivable$765,591$1,130,459▲ $364,868
Prepaid Expenses and Deferred Charges$463,124$718,363▲ $255,239
Inventories for Sale or Use$0$110,838▲ $110,838
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$4,271,536$5,152,161▲ $880,625
Other Assets Total$2,689,444$1,539,757▼ $1,149,687
Liabilities
Other Liabilities$3,570,986$5,336,613▲ $1,765,627
Accounts Payable and Accrued Expenses$1,314,530$1,681,179▲ $366,649
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$4,885,516$7,017,792▲ $2,132,276
Net Assets / Fund Balance
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Unrestricted Net Assets$-613,980$-1,865,631▼ $1,251,651
Total Net Assets Fund Balance$-613,980$-1,865,631▼ $1,251,651
Total Liabilities and Net Assets / Fund Balance$4,271,536$5,152,161▲ $880,625

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$1,539,757--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Abdul Shazad MdPhysicianFT$386,961$255,936$642,897
Eric L Martin MdPhysicianFT$447,616$74,593$522,209
Michelle L Fontaine MdPhysicianFT$472,407$30,843$503,250
Izabela Nowosielski MdPhysicianFT$400,540$40,843$441,383
Paramjeet Singh MdPhysicianFT$399,472$10,927$410,399
Gerard DunlaveyExecutive DirectorFT$277,203$128,632$405,835
Gerard Galarneau MdDirect., Secretary & TreasurerPT$192,342$15,481$207,823

Board Members and Trustees

NameTitle
James Oxley DoDirector and President

Highest Paid Contractors

ContractorServicesLocationCompensation
None---
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$34,665,605
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-1,251,651
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$23,867,751
Other Expenses$12,049,505
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$19,020,631$1,124,525-$20,145,156
Fees for Services Other$5,349,935--$5,349,935
Insurance$2,330,237--$2,330,237
Other Employee Benefits$1,649,800$75,175-$1,724,975
Occupancy$948,597--$948,597
Payroll Taxes$876,627$69,303-$945,930
Fees for Services Management-$728,908-$728,908
Current Officers, Directors, Trustees, and Key Employees$213,125$451,284-$664,409
Pension Plan Contributions$358,907$28,374-$387,281
Office Expenses$343,843--$343,843
Advertising$305,206--$305,206
Depreciation Depletion$142,318--$142,318
Travel$107,206--$107,206
Conferences and Meetings$83,144--$83,144
Other Expenses$63,023--$63,023
Fees for Services Accounting-$27,500-$27,500
Total Functional Expenses$33,412,187$2,505,069$0$35,917,256
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Related Org - Admin Svc$5,336,613
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

FORM 990, PART VI, SECTION A, LINE 7A:

James Oxley, D.O. has the power to appoint members to the governing body.

FORM 990, PART VI, SECTION A, LINE 7B:

Greater Hudson Valley Health System, Inc. Has the right to remove directors. For additional information, see schedule A, Part VI.

FORM 990, PART VI, SECTION B, LINE 11B:

The form 990 is prepared by the finance department and submitted to ghvhs medical group pc's tax preparer for processing. The initial draft return provided by the tax preparer is reviewed by members of executive management, the corporate compliance officer, and the audit and compliance committee of the board of directors. The final version of the organization's form 990 is provided to all voting members of the baord of directors prior to submission to the internal revenue service.

FORM 990, PART VI, SECTION B, LINE 12C:

The conflict of interest (coi) policy applies to all directors and employees who are in a position to influence any substantial business decision by ghvhs medical group, p.c. And ghvhs. A corporate compliance program has been instituted to ensure that all of its business practices are compliant with applicable civil and criminal laws, rules, and regulations. The coi policy requires all directors and covered employees to read and understand the policy and review it at least annually in order to be alert to situations that could create a conflict of interest or otherwise be contrary to ghvhs medical group, p.c. Or ghvhs policy. They are also required annually to sign a conflicts policy disclosure form. The compliance officer for ghvhs monitors the coi disclosures, and is present and available to assist with any potential conflict issues and provide advice on abstention, recusal, etc. A summary of the coi disclosures is produced for the board, as are annual updates to the coi policy. Form 990, part vi, section b, lines 15a & 15b: compensation review & approval process for officers & key employees in determining compensation for executive director, ghvhs medical group, pc utilizes one or more of the follwing at the ghvhs level - a compensation committee made up of independent members of the executive committee of the board, an independent compensation consultant, and compensation surveys or studies. These surveys include healthcare providers with comparable net revenue and in comparable geographic regions. Following the recommendations of the board of directors, ghvhs medical group, pc looks to hire at approximately the 50th percentile of the market. This is determined by using the previously mentioned data resources.

FORM 990, PART VI, SECTION C, LINE 19:

Once a request is made for the ghvhs medical group, p.c. Form 990, a copy is sent to the requesting party through the administration office of orange regional medical center. The organization was included in consolidated financial statements for the tax year. These statements are kept on file in the finance department at greater hudson valley health system.

Filing and Contact Details

Filer

Filer Name
GHVHS Medical Group PC
EIN
37-1743537
In Care Of
% JAMES GRIGG INTERIM CFO
Phone
8453337575
Address
707 EAST MAIN STREET, MIDDLETOWN, NY 10940
Doing Business As
Orange Regional Medical Group

Signing Officer

Name
Gerard Galarneau Md
Title
President
Phone
8453427349
Signed
2017-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James E Oxley
Formed
2013
Legal Domicile
Ny
Voting Board Members
2
Independent Board Members
0
Employees
176
Volunteers
0

Preparer

Firm
Kpmg Llp
Address
345 Park Avenue, New York, NY 10154-0102
Preparer
Mary-Evelyn Antonetti
Phone
2127589700
Supplemental Narrative

Additional Explanations

Medical Group education/marketing efforts:

The GHVHS Medical Group, P.C. as an affiliate of the Greater Hudson Valley Health System (GHVHS), mirrors the mission, vision, and values of the health system. The medical group was created to support several mission critical initiatives of the health system including access to primary care, support of medical education and staffing of critical hospital services including behavioral health, trauma, critical care, surgery and hospitalist services. The medical group provides care to our community, regardless of their ability to pay for such services. The group has policies and protocols in place where patients are treated first, regardless of their ability to pay. These patients are then connected with a financial advocate who can assist with determining their ability to qualify for Medicaid benefits. The medical group also offers charitable care with a discounted scale similar to that of the GHVHS. In 2016 alone, the GHVHS Medical Group provided $151,609.00 in charitable care. The GHVHS Medical Group, P.C. currently offers medical services in six locations throughout Orange and Sullivan Counties. Services provided at the Grover Herman Critical Access Hospital located in Callicoon, NY includes Primary Care and Emergency Medical Services for this medically underserved section of Sullivan County. Similarly, the medical group operates a Primary Care clinic in Livingston Manor, NY, and another underserved section of Sullivan County. The Medical Groups Harris, NY location, situated on the main campus of Catskill Regional Medical Center, provides a number of difficult to access medical specialty services including general surgery, orthopedic surgery, urology, wound care, rheumatology, cardiology, and hematology / oncology. Finally, the medical groups newest Sullivan County addition is an 11,000 sq. ft. medical office building that currently provides primary care and urgent care services and has averaged more than 1,100 visits per month over the first four months of operations. The group is committed to recruiting additional high need medical specialties to Sullivan County including but not limited to endocrinology, gastroenterology, pulmonary critical care, hospitalists, infectious disease, psychiatry, occupational medicine, and primary care. Orange County is the home to the GHVHS Medical Groups two remaining locations in Middletown and Monroe. The Monroe location was established to provide residents of southern Orange County with a convenient location to access primary care services. It also offers patients from the Monroe area who are discharged from Orange Regional Medical Center an accessible location to receive their follow up care. Finally, the medical groups largest presence is located in Middletown, NY on the main campus of Orange Regional Medical Center. Services offered include primary care, urgent care, behavioral health, pulmonary critical care, hospitalist service, palliative care, infectious disease, trauma surgery, general surgery, orthopedics, rheumatology, urology, and hematology / oncology. Similar to Sullivan County, the group is committed to recruiting a number of additional physicians in a variety of medical specialties including but not limited to pediatrics, neurology, geriatrics, obstetrics & gynecology, endocrinology, gastroenterology, and psychiatry as well as additional physicians in the specialties already in place. The medical groups recruitment plan will continue to grow and evolve as we strive to answer as many unmet needs in our community as possible. In addition to our six current locations, the GHVHS Medical Group leadership team, in partnership with GHVHS leaders is conducting a needs analysis in consideration of two new locations intended to improve access to high quality medical services, one located in eastern Orange County and a second located in western Orange County. As part of our mission, we are committed to developing "grass roots" connections to the communities we serve. Our physicians and

FORM 990, PART XII, LINE 2C:

The oversight of the audit is performed by greater valley health system, inc.

Form 990 Part IX Line 11G

Description:professional fees total fees:1830138

Form 990 Part IX Line 11G

Description:temporary agency fees total fees:2169032

Form 990 Part IX Line 11G

Description:contracted services total fees:12913

Form 990 Part IX Line 11G

Description:purchased services total fees:1046434

Form 990 Part IX Line 11G

Description:collection fees total fees:234050

Form 990 Part IX Line 11G

Description:consulting fees total fees:6413

Form 990 Part IX Line 11G

Description:other fees total fees:50955

Financial Statement Notes

SCHEDULE D, PART X, LINE 2:

Footnote 2(q) to consolidated financial statements for greater hudson valley health system, inc.: ghvhs, ormc, crmc, and ghvhs medical pc, have been determined by the internal revenue service to be organizations described in the code section 501(c)(3) and, threfore, are generally exempt form federal income taxes. Synera corporation, a dormant corporation, is exempt as an organization described in 501(c)(2) of the code. Ems and the pho are dormant taxable corporations. No provision for income taxes has been recorded. The system recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely to be realized upon settlement. Charnges in recognition in measurement are relfected in the period in which the change in judgment occurs. The system did not recognize the effect of any income tax positions in either 2016 or 2015.

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IRS990/Form990PartVIISectionAGrp/PersonNm2GERARD DUNLAVEY
IRS990/Form990PartVIISectionAGrp/PersonNm3ABDUL SHAZAD MD
IRS990/Form990PartVIISectionAGrp/PersonNm4ERIC L MARTIN MD
IRS990/Form990PartVIISectionAGrp/PersonNm5PARAMJEET SINGH MD
IRS990/Form990PartVIISectionAGrp/PersonNm6IZABELA NOWOSIELSKI MD
IRS990/Form990PartVIISectionAGrp/PersonNm7MICHELLE L FONTAINE MD
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IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR AND PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECT., SECRETARY & TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt2EXECUTIVE DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3PHYSICIAN
IRS990/Form990PartVIISectionAGrp/TitleTxt4PHYSICIAN
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IRS990/MissionDesc0DELIVERY OF PRIMARY CARE AND NUMEROUS SPECIALTY MEDICAL CARE SERVICES TO PATIENTS IN THE HUDSON VALLEY OF NEW YORK. OUR MISSION IS TO IMPROVE THE HEALTH OF OUR COMMUNITY.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0GREATER HUDSON VALLEY HEALTH SYSTEM INC (GHVHS), THE ACTIVE PARENT OF BOTH ORANGE REGIONAL MEDICAL CENTER AND CATSKILL REGIONAL MEDICAL CENTER MAINTAINS LETTER AGREEMENTS WITH EACH SHAREHOLDER, OFFICER, AND DIRECTOR OF GHVHS MEDICAL GROUP, PC THAT REQUIRE EACH SUCH SHAREHOLDER, OFFICER, AND DIRECTOR TO "(i) CONSULT WITH THE GHVHS PRESIDENT AND CEO (OR HIS DESIGNEE) IN CONNECTION WITH, AND IN ADVANCE OF, ALL ACTIONS TAKEN IN [HIS/HER] CAPACITY AS A SHAREHOLDER, OFFICER, OR DIRECTOR OF THE PC; AND (ii) FOLLOW SUCH INSTRUCTIONS AND TAKE SUCH ACTIONS AS ARE DEEMED REASONABLE AND NECESSARY BY GHVHS WITH RESPECT TO THE OPERATION AND ACTIVITIES OF THE PC." IN THIS MANNER,THE SUPPORTED ORGANIZATIONS EFFECTIVELY OPERATED, SUPERVISED OR CONTROLLED THE ACTIVITIES OF GHVHS MEDICAL GROUP, PC. GREATER HUDSON VALLEY HEALTH SYSTEM INC (GHVHS) HAS THE POWER TO REMOVE DIRECTORS FROM THE BOARD.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Schedule A, Part IV, Section B, Line 1
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0CATSKILL REGIONAL MEDICAL CENTER
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt1ORANGE REGIONAL MEDICAL CENTER
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FOOTNOTE 2(Q) TO CONSOLIDATED FINANCIAL STATEMENTS FOR GREATER HUDSON VALLEY HEALTH SYSTEM, INC.: GHVHS, ORMC, CRMC, AND GHVHS MEDICAL PC, HAVE BEEN DETERMINED BY THE INTERNAL REVENUE SERVICE TO BE ORGANIZATIONS DESCRIBED IN THE CODE SECTION 501(C)(3) AND, THREFORE, ARE GENERALLY EXEMPT FORM FEDERAL INCOME TAXES. SYNERA CORPORATION, A DORMANT CORPORATION, IS EXEMPT AS AN ORGANIZATION DESCRIBED IN 501(C)(2) OF THE CODE. EMS AND THE PHO ARE DORMANT TAXABLE CORPORATIONS. NO PROVISION FOR INCOME TAXES HAS BEEN RECORDED. THE SYSTEM RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. RECOGNIZED INCOME TAX POSITIONS ARE MEASURED AT THE LARGEST AMOUNT THAT IS GREATER THAN 50% LIKELY TO BE REALIZED UPON SETTLEMENT. CHARNGES IN RECOGNITION IN MEASUREMENT ARE RELFECTED IN THE PERIOD IN WHICH THE CHANGE IN JUDGMENT OCCURS. THE SYSTEM DID NOT RECOGNIZE THE EFFECT OF ANY INCOME TAX POSITIONS IN EITHER 2016 OR 2015.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PART X, LINE 2:
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