Peconic Cardiology PC

Tax-deductible

Westbury, NY501(c)(3)Since 2016Health CareEIN 81-3149464Revenue $25.8M in FY2024

On file with the IRSnorthwell.edu972 Brush Hollow Rd 5th FL, 11590-1740 · Westbury, NYTax-exempt since Nov 2017Supporting org, Type I — 509(a)(3)

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Peconic Cardiology, PC strives to improve the health of the communities IT serves and is committed to providing the highest quality clinical care.

501(c)(3) charity; gifts are tax-deductible.
88¢ of each $1 spent went to programs.
$4.6M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $2.0M a year · 10% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$4.6M
to officers and key staff · 18% of spending
Top officer’s pay higher than 92% of similar orgs
Fine: pay to officers and key staff is 18% of spending; 15% to 20%.
Pt VII · Sec A
Liabilities
$4.2M
94% of total assets
Concern: liabilities are 94% of assets; over 80%.
Pt X · Ln 26
Independent board members
0
of 2 voting members
Concern: none of 2 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$25.8M
+7% vs prior year
Spent
$25.8M
To programs
88%
Net assets
$277K
By yearFY2020–FY2024
Revenue
$25.8M
FY2024▲ +7%
Tap a bar for its year
Revenue by fiscal year
FY2020$15.3M
FY2021$17.2M
FY2022$23.7M
FY2023$24.2M
FY2024$25.8M
Expenses
$25.8M
FY2024▲ +6%
Tap a bar for its year
Expenses by fiscal year
FY2020$20.8M
FY2021$21.9M
FY2022$23.7M
FY2023$24.2M
FY2024$25.8M
Net assets
$277K
FY2024+0.1%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.8M
FY2021$282K
FY2022$282K
FY2023$277K
FY2024$277K

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 2017.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $22.8M Management & general 12% · $3.0M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

11 people listed on the 990; $4.6M paid to officers and key staff.

Part VII, Section A · reportable compensation
$941,041Pt VII · Sec A
Cardiologist
$932,662Pt VII · Sec A
Cardiologist
$924,578Pt VII · Sec A
Cardiologist
$922,262Pt VII · Sec A
Interventional Cardiologist
$918,590Pt VII · Sec A
$0Pt VII · Sec A
President, Sec & Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A

Vincenzo Barbato DO’s $941K as Cardiologist is at the 92nd percentile of top reported officer pay among 2901 $10–100M health care nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Vincenzo Barbato DO$941,041————
Prateek Dalal MD$932,662$869,661———
Sean Donahoe MD$924,578$863,042———
Rajoo Patel MD$922,262————
Steven Lederman MD$918,590————
Stanley Katz MD—$899,567———
Rameshchandra Dabhi MD—$858,961———
Patrick Valentino DO—$858,503———

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides high-quality heart care to improve community health.

Provided by the organization

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1 program · $22.8M · in their own filed words · FY2024
01

Peconic cardiology, PC is an affiliated member of northwell health, inc. ("northwell") and part of northwell's medical group and ambulatory lines of service. It strives to make a measurable difference in the health status of the communities it serves by providing comprehensive health care regardless of ability to pay.

$22.8Mprogram expense

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$25.8M
Ln 12
Fees for servicesLn 2g$18.3M
Other incomeLn 4–11$7.5M
Money outPt IX
$25.8M
Ln 25
Programscol B$22.8M
Managementcol C$3.0M
Owns and owesPt X
$277K
net assets · Ln 32
Total assetsLn 16$4.5M
LiabilitiesLn 26$4.2M
PeoplePt VI, VII
11
listed · VII A
PaidVII A5
Voting boardVI 1a2
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$18.3M
Other incomeLn 4–11$7.5M
Gains on assetsLn 7$0
Total revenueLn 12$25.8M
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$0
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$1.3M
Other assetsLn 15$3.2M
Total assetsLn 16$4.5M
LiabilitiesLn 26$4.2M
Net assetsLn 32$277K
OperationsPt I, VI
EmployeesI 5121
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$0$0
InvestmentsLn 11–13$0$0
Land, buildings, equipmentLn 10c$1.4M$1.3M
Total assetsLn 16$5.2M$4.5M
LiabilitiesLn 26$4.9M$4.2M
Net assetsLn 32$277K$277K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$17.8M$16.0M$1.8M
Pension plan contributionsLn 8$818K$736K$82K
Other employee benefitsLn 9$1.9M$1.7M$187K
Payroll taxesLn 10$873K$786K$87K
Management feesLn 11a$70K$70K
Legal feesLn 11b$0
Accounting feesLn 11c$0
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$83K$74K$8K
Advertising and promotionLn 12$2K$2K$170
Office expensesLn 13$604K$543K$60K
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$1.1M$1.0M$112K
TravelLn 17$9K$9K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$11K$11K
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$123K$111K$12K
InsuranceLn 23$445K$445K
Other expenses (24a–d)Ln 24$2.0M$1.3M$645K
All other expensesLn 24e$17K$16K$2K
Total functional expensesLn 25$25.8M$22.8M$3.0M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $25.8M$25.8M$0$277K 990 PDF
FY2023 $24.2M$24.2M−$9K$277K 990 PDF
FY2022 $23.7M$23.7M$0$282K 990 PDF
FY2021 $17.2M$21.9M−$4.7M$282K 990 PDF
FY2020 $15.3M$20.8M−$5.5M$1.8M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $25,792,033 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $37,144$0
I-9 Program service revenuePrior year $17,168,415$18,302,678
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $7,006,749$7,489,355
I-12 Total revenuePrior year $24,212,308$25,792,033
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $19,297,467$21,323,384
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $4,924,124$4,468,649
I-18 Total expensesPrior year $24,221,591$25,792,033
I-19 Revenue less expensesPrior year −$9,283$0
Part VI · Governance 0 of 2 board members independent, no flags
VI-1a Voting members of the governing body2
VI-1b Independent voting members0
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $25,792,033 across 9 lines filed
Lines not itemized here account for $60,460 of total revenue; see the IRS return.
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $18,302,678$18,302,678
VIII-3 Investment income$0
VIII-5 Royalties$0
VIII-6 Net rental income or lossExcluded from tax $100,705$100,705
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $7,114,190 · Excluded from tax $214,000$7,328,190
VIII-12 Total revenueRelated to mission $25,477,328 · Excluded from tax $314,705$25,792,033
Part IX · Statement of functional expenses $25,792,033 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $15,988,460 · Management $1,776,495$17,764,955
IX-8 Pension plan contributionsPrograms $736,413 · Management $81,824$818,237
IX-9 Other employee benefitsPrograms $1,680,633 · Management $186,737$1,867,370
IX-10 Payroll taxesPrograms $785,540 · Management $87,282$872,822
IX-11a Management feesManagement $69,741$69,741
IX-11b Legal fees$0
IX-11c Accounting fees$0
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $74,475 · Management $8,275$82,750
IX-12 Advertising and promotionPrograms $1,528 · Management $170$1,698
IX-13 Office expensesPrograms $543,409 · Management $60,379$603,788
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 OccupancyPrograms $1,010,671 · Management $112,297$1,122,968
IX-17 TravelPrograms $8,889$8,889
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsPrograms $10,657$10,657
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $110,844 · Management $12,316$123,160
IX-23 InsurancePrograms $445,463$445,463
IX-24 Other expenses (24a–d)Programs $1,337,560 · Management $644,646$1,982,206
IX-24e All other expensesPrograms $15,596 · Management $1,733$17,329
IX-25 Total functional expensesPrograms $22,750,138 · Management $3,041,895 · Fundraising $0$25,792,033
Part X · Balance sheet $4,522,572 assets, 24 lines filed
X-1 Cash, non-interest-bearingStart of year $0$0
X-2 Savings and temporary cash investmentsStart of year $0$0
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $0$415
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $81,259$87,666
X-10c Land, buildings and equipment, netStart of year $1,395,654$1,279,444
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $3,728,060$3,155,047
X-16 Total assetsStart of year $5,204,973$4,522,572
X-17 Accounts payable and accrued expensesStart of year $1,286,115$1,387,352
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $3,641,836$2,857,867
X-26 Total liabilitiesStart of year $4,927,951$4,245,219
X-27 Net assets without donor restrictionsStart of year $277,022$277,353
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $277,022$277,353
X-33 Total liabilities and net assetsStart of year $5,204,973$4,522,572
Part XI · Reconciliation of net assets $277,353 net assets at year end
XI-1 Total revenue$25,792,033
XI-2 Total expenses$25,792,033
XI-3 Revenue less expenses$0
XI-4 Net assets at start of year$277,022
XI-9 Other changes in net assets$331
XI-10 Net assets at end of year$277,353

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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