Beth Abraham Services EIN 13-1739920 Form 990 (PDF) Claim this org

Beth Abraham Services FY2021 filing

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Offers skilled nursing care in a facility setting. For fiscal year 2021 it reported $893K in revenue, $460K in expenses, and $8.7M in net assets.Pt I

Type
Public charity (501(c)(3)) · Hospitals
Location
Flushing, NY
Website
www.centerlight.org
Filings
6 on file (2019–2021)
Revenue
$893KFY2021
Expenses
$460K
Net assets
$8.7M
People
17
Filings
6
Updates
0
More identity details & actions ⌄
EIN  13-1739920 Public charity (501(c)(3)) Flushing, NY
Form 990 (PDF)
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →
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Size
$100K–1M
What they do
Offers skilled nursing care in a facility setting.
Leadership
Michael R Potack · Chairman
Money in and out
$893K revenue, $460K expenses
Bottom line
0% program efficiency
Where the money goes · FY2021
Total revenue
$893K
Pt VIII · Ln 12
Total expenses
$460K
Pt IX · Ln 25
Net assets
$8.7M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $433K
Where spending went · Part IX cols B–D
Management & general $1.00
Program efficiency
0%
of spending reaches programs
Operating runway
416.0mo
months of highly liquid reserves at operating expense rate
Surplus margin
+49%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2021 · Form 990
Revenue
$893K
FY2021▼ -54%
Expenses
$460K
FY2021▲ +34%
Total assets
$24.0M
FY2021▲ +6%
Total liabilities
$15.3M
FY2021▲ +3%
Total revenue
$893K
Pt VIII · Ln 12
Total expenses
$460K
Pt IX · Ln 25
Net assets
$8.7M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$433K
Total assetsPt X · Ln 16$24.0M
Program-expense ratioPt IX · col B0%
Voting members of governing bodyPt I · Ln 39
Independent voting membersPt I · Ln 49

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CBeth Abraham Services
EINHdr · item D13-1739920
Principal addressHdr · item CFlushing, NY
WebsiteHdr · item Jwww.centerlight.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNY
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHospitals (E22)
Ruling yearIRS BMFMay 1936

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a9
Independent voting membersPt VI · Ln 1b9
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Vice Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
Assistant Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
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Mission & Programs · Part III

Where the work happens

1 program service, described in the organization's own filed words · FY2021.
01

Beth abraham services provided health care on an inpatient basis in its 448 bed skilled nursing facility. The facility served the chronically ill and disabled and provided rehabilitation and postacute services. The center ceased operations on march 15, 2017 after the sale of its plant and operations.

Pt IX · col B

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Statement of Revenue

Part VIII
Investment income$603K · 67%
Program service revenue$145K · 16%
Other revenue$146K · 16%
Investment income67%$603K
Program service revenue16%$145K
Other revenue16%$146K
Total revenueLn 12$893K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Management & general $1.00
Management & general100%$460K
Total functional expensesLn 25$460K

Balance Sheet

Part X · end of year
CashLn 1$5.8M
Total assetsLn 16$24.0M
Total liabilitiesLn 26$15.3M
Total net assetsLn 32$8.7M
Months of cash on handcomputed150.3

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $15.9M · Operating expenses/yr $460K
416.0 months
Where the money goes
Program services
Program services $0 · Total expenses $460K
0%
Management & General
Management & general $460K · Total expenses $460K
100%
Fundraising
Fundraising $0 · Total expenses $460K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $0
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $893K
0%
Government reliance
Government grants — · Total revenue $893K
Earned-income share
Program service revenue $145K · Total revenue $893K
16%
Investment reliance
Investment income $603K · Total revenue $893K
+67%
Program self-sufficiency
Program service revenue $145K · Total expenses $460K
31%
Growth & trend
Revenue growth (YoY)
This year $893K · Prior year $1.9M
-54%
Net-asset trend (YoY)
End of year $8.7M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $893K · Expenses $460K
+49%
Liabilities-to-Assets
Total liabilities — · Total assets $24.0M
Net-asset ratio
Net assets $8.7M · Total assets $24.0M
36%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $10.2M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $24.0M
42%
People & payroll
Highest Reported Total Compensation
Individual Michael R Potack · Reported title CHAIRMAN · Highest reported compensation $0 · Total expenses $460K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $460K
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Overhead ratio 100%
Revenue growth -54%
Investment management fee ratio 0.04%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$620K revenue · ⤓ 990 PDF
FY2023$432K revenue · ⤓ 990 PDF
FY2022$504K revenue · ⤓ 990 PDF
FY2021$893K revenue · viewing · ⤓ 990 PDF
FY2020$1.9M revenue · ⤓ 990 PDF
FY2019$3.3M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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