Hudson East River Systems Llc

Nonprofit profile at a glance

EIN
822253311
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-T 2024, Form 990-N 2017
Location
New York, NY, USA
Phone
2122974255
Rating
26
Verdict
REVIEW
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Reported finances

Revenue
$156,888,599
Expenses
$8,447,543
Assets
$12,376,550,855
Liabilities
$12,376,550,855

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • MICHAEL P BRESLIN (PRESIDENT)

Highest reported compensation

  • MICHAEL P BRESLIN (PRESIDENT): $3,273,376 total reported compensation
  • ANNE DINNEEN (CHIEF INVESTMENT OFFICER): $2,854,650 total reported compensation
  • WILLIAM J FARRELL (TREASURER): $1,680,696 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To receive, hold, manage and invest the non-erisa investment assets of the company's members and to support the delivery of health care to the public by its support of the company's members.

What it reported doing in 2024

Receive, hold, manage and invest the non-erisa investment assets of the company's members and to support the delivery of health care to the public by its support of the company's members and to conduct any other activities that may be necessary, useful, or desirable for the furtherance or accomplishment of the foregoing purposes, provided those activities would not endanger the company's tax exempt status.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - Revenue comfortably covers expenses and revenue has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 41
  • Accountability: 32
  • Sustainability: 79
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: Limited
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 94.6%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 1,465.11; rating input score 100; 100th percentile among comparable filings
  • Liabilities to assets ratio: 1; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 4.5%; rating input score 21; 21st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 10.7% per year; rating input score 100; 79th percentile among comparable filings
  • Asset growth: 12.1% per year; rating input score 100; 78th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $3.3M · 4 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $4.4M reported
  • Consistency: 16 of 16 current checks pass
  • Schedules: 6 filed schedules · includes foreign activity and executive pay
  • Filing history: 6 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 57 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.
  • High — Sustainability: Officer compensation ratio scored 21/100.