2020-09-25T17:05:04-07:00
2019-12-31
990
2019-01-01
471442997
MEDICAL DEBT RESOLUTION INC
MEDI
8446373328
80 THEODORE FREMD AVE
RYE
NY
10580
Allison Sesso
Executive Director
8446373328
2020-09-22
151.205.180.161
2019
2021-01-29 14:40:06Z
RIP MEDICAL DEBT
ALLISON SESSO
80 THEODORE FREMD AVE
RYE
NY
10580
10067024
0
X
WWW.RIPMEDICALDEBT.ORG
X
2014
NY
ACQUIRE AND ABOLISH, I.E. FORGIVE, MEDICAL DEBT OWED BY INDIVIDUALS EXPERIENCING POVERTY OR OTHER HARDSHIP (PLEASE SEE SCHEDULE O FOR A MORE COMPLETE DESCRIPTION OF THE ORGANIZATION'S MISSION)
9
7
9
0
0
0
5339832
9891080
120755
174791
0
1153
0
0
5460587
10067024
0
0
0
0
806827
1041977
242000
528000
699495
4196108
5514817
5244935
7084794
215652
2982230
1577897
4572339
293794
306006
1284103
4266333
X
ACQUIRE AND ABOLISH, I.E. FORGIVE, MEDICAL DEBT OWED BY INDIVIDUALS EXPERIENCING POVERTY OR OTHER HARDSHIP (PLEASE SEE SCHEDULE O FOR A MORE COMPLETE DESCRIPTION OF THE ORGANIZATION'S MISSION)
0
0
4668837
0
MEDICAL DEBT RELIEF: LOCATE, ACQUIRE, AND ABOLISH, I.E. FORGIVE, MEDICAL DEBT FOR INDIVIDUALS WHO ARE EXPERIENCING POVERTY, GENERALLY DEFINED AS EARNING 200% OR LESS THAN THE FEDERAL POVERTY LEVEL, OR WHO ARE EXPERIENCING HARDSHIPS THAT MAKE PAYING OFF THE DEBT DIFFICULT OR IMPOSSIBLE. EXAMPLES OF HARDSHIPS INCLUDE EXCESSIVE MEDICAL DEBT (I.E. OUT OF POCKET MEDICAL EXPENSES AMOUNTING TO MORE THAN 5% OF GROSS INCOME), EXCESSIVE NON-MEDICAL DEBT, JOB LOSS, NUMEROUS OR SICK DEPENDENTS, ETC.
386723
174790
MEDICAL DEBT RESEARCH: ACQUIRE AND ABOLISH MEDICAL DEBT IN CONNECTION WITH RESEARCH CONDUCTED BY MAJOR UNIVERSITIES INTO THE ECONOMIC AND SOCIAL EFFECTS OF MEDICAL DEBT.
183780
0
EDUCATION & OUTREACH: CONDUCT CONFERENCES AND PUBLISH WEBSITES, BOOKS, AND ARTICLES TO RAISE PUBLIC AWARENESS OF THE ECONOMIC AND SOCIAL EFFECTS OF MEDICAL DEBT.
24000
0
ADDITIONAL DETAILS PROVIDED IN SCHEDULE O
24000
0
0
5263340
1
1
0
0
0
0
0
0
0
0
1
0
0
0
0
0
1
0
0
0
0
0
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1
0
0
0
0
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1
0
0
0
0
0
0
0
0
0
0
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0
0
0
1
19
0
1
9
1
0
0
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0
0
0
0
0
0
0
0
X
9
7
1
0
0
0
0
0
0
1
1
0
0
1
1
1
1
1
1
1
1
0
AK
AL
AR
AZ
CA
CO
CT
DC
DE
FL
GA
HI
IA
ID
IL
IN
KS
KY
LA
MA
MD
ME
MI
MN
MO
MS
MT
NC
ND
NE
NH
NJ
NM
NV
NY
OH
OK
OR
PA
PR
RI
SC
SD
TN
TX
UT
VA
VT
WA
WI
WV
WY
X
ALLISON SESSO
8446373328
80 THEORDORE FREMD AVE
RYE
NY
10580
X
CRAIG ANTICO
DIRECTOR & DEPT HEAD - DEBT OPERATIONS
40
0
X
304511
0
0
CHRISTOPHER SIMMONS
TREASURER
40
0
X
167244
0
0
HAROLD JERRY ASHTON
DIRECTOR & DEPT HEAD - EDUCATION & OUTREACH
40
0
X
132000
0
0
DAVID REYNOLDS
DEPT HEAD - INFORMATION SYSTEMS
40
0
X
88038
0
0
WILLIAM VON MUEFFLING
DIRECTOR & BOARD CHAIR
5
0
X
X
0
0
0
MICHELE MASUCCI
DIRECTOR & SECRETARY
1
0
X
X
0
0
0
TED SANN
DIRECTOR & EXECUTIVE DIRECTOR
30
0
X
X
0
0
0
ROBERT GOFF
DIRECTOR
1
0
X
0
0
0
JOSE PENABAD
DIRECTOR
1
0
X
0
0
0
ELIZABETH MARINCOLA
DIRECTOR
1
0
X
0
0
0
JEFF SMEDSRUD
DIRECTOR
1
0
X
0
0
0
691793
0
0
4
0
1
0
SANDRA DAVIS LLC DBA DONORLY
1460 BROADWAY
New York
NY
10036
FUNDRAISING COUNSEL
528000
1
0
0
0
0
0
9891080
639457
9891080
PROGRAM SERVICE REVENUE
900099
174791
174791
0
0
0
0
0
0
174791
1153
0
0
1153
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
10067024
174791
0
1153
X
694168
380901
226770
86497
291911
214122
56134
21655
3239
3239
52659
36442
8533
7684
134433
16514
117919
112690
112690
528000
528000
390711
126088
251122
13501
14579
14132
447
145986
22966
109519
13501
65587
3814
57685
4088
112040
112040
88201
30944
33135
24122
1123
398
725
8525
8525
9791
9791
COST OF DEBT ABOLISHED: SEE SCHEDULE O
4445361
4445361
0
0
CAPITALIZED LABOR - INTRNL USE SOFTWARE
-14210
-14210
0
0
0
0
0
0
7084794
5263340
1121959
699495
1200703
2964945
890
510701
314136
167001
8912
179141
26746
682801
28973
18998
14646
9975
45911
11864
11864
1577897
4572339
293794
306006
293794
306006
X
298890
1014787
985213
3251546
1284103
4266333
1577897
4572339
2982230
0
0
0
0
0
X
X
0
1
X
1
0
X
11416
259534
2163479
5339832
9891081
17665342
0
0
0
0
0
0
0
0
0
0
0
0
11416
259534
2163479
5339832
9891081
17665342
643650
17021692
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
17665342
295545
0.96356
0.9384
X
RESTRICTED
RESTRICTED
RESTRICTED
RESTRICTED
RESTRICTED
RESTRICTED
RESTRICTED
RESTRICTED
0
0
0
0
0
0
0
0
0
0
0
0
27704
18215
9489
0
1269
783
486
9975
10259537
0
192513
0
0
192513
10067024
0
0
0
10067024
7277307
192513
0
0
0
192513
7084794
0
0
0
7084794
Schedule D, Part X
INTANGIBLE ASSETS AS REPORTED ON FORM 990, PART X, LINE 14: CAPITALIZED PUBLIC WEBSITE COSTS NET OF AMORTIZATION...................$12,985 CAPITALIZED INTERNAL USE SOFTWARE NET OF AMORTIZATION................$32,926 TOTAL INTANGIBLE ASSETS PER FORM 990 PART X, LINE 14.........................$45,911
X
X
X
X
1
DONORLY
1460 BROADWAY
NEW YORK
NY
10036
AS FUNDRAISING COUNSEL FOR THE ORGANIZATION, THE FIRM OF SANDRA DAVIS, LLC DBA "DONORLY", PROVIDES A TEAM OF SKILLED PERSONNEL WHO MANAGE SUBSTANTIALLY ALL BACK OFFICE ACTIVITIES ASSOCIATED WITH THE ORGANIZATION'S FUNDRAISING AND DEVELOPMENT FUNCTION, INCLUDING CAMPAIGN DEVELOPMENT AND EXECUTION, DONOR RESEARCH, GIFT ACKNOWLEDGMENT, GRANT APPLICATIONS, DONOR MANAGEMENT SYSTEMS MAINTENANCE, IN ADDITION TO PROVIDING ADVICE ON HIGH LEVEL FUNDRAISING AND DEVELOPMENT STRATEGY. IN PERFORMING THESE FUNCTIONS, DONORLY IS EITHER DIRECTLY OR INDIRECTLY RESPONSIBILITY FOR VIRTUALLY ALL REVENUE, EXCEPT IN-KIND REVENUE.
0
0
528000
-528000
0
528000
-528000
AK
AL
AR
AZ
CA
CO
CT
DC
DE
FL
GA
HI
IA
ID
IL
IN
KS
KY
LA
MA
MD
ME
MI
MN
MO
MS
MT
NC
ND
NE
NH
NJ
NM
NV
NY
OH
OK
OR
PA
PR
RI
SC
SD
TN
TX
UT
VA
VT
WA
WI
WV
WY
Schedule G, Part I, Line 2b
LIST OF TEN HIGHEST PAID FUNDRAISERS: (I) NAME OF FUNDRAISER: DONORLY (II) ADDRESS OF FUNDRAISER: 1460 BROADWAY, NEW YORK, NY 10036 ................. PART I, LINE 2B, COLUMN (V): AS FUNDRAISING COUNSEL FOR THE ORGANIZATION, THE FIRM OF SANDRA DAVIS, LLC DBA "DONORLY", PROVIDES A TEAM OF SKILLED PERSONNEL WHO MANAGE SUBSTANTIALLY ALL BACK OFFICE ACTIVITIES ASSOCIATED WITH THE ORGANIZATION'S FUNDRAISING AND DEVELOPMENT FUNCTION, INCLUDING CAMPAIGN DEVELOPMENT AND EXECUTION, DONOR RESEARCH, GIFT ACKNOWLEDGMENT, GRANT APPLICATIONS, DONOR MANAGEMENT SYSTEMS MAINTENANCE, IN ADDITION TO PROVIDING ADVICE ON HIGH LEVEL FUNDRAISING AND DEVELOPMENT STRATEGY. IN PERFORMING THESE FUNCTIONS, DONORLY IS EITHER DIRECTLY OR INDIRECTLY RESPONSIBLE FOR VIRTUALLY ALL REVENUE, EXCEPT IN-KIND REVENUE.
X
X
0
0
0
0
0
0
0
0
0
CRAIG ANTICO
DIRECTOR & DEPT HEAD - DEBT OPERATIONS
240000
0
36000
0
28511
0
0
0
0
0
304511
0
0
0
Schedule J, Part II
IN 2019, THE ORGANIZATION ABOLISHED $1,673,250,259 OF MEDICAL DEBT, HELPING 1,260,529 INDIVIDUALS AND FAMILIES, COMPARED TO $505,577,211 OF DEBT AND 180,286 INDIVIDUALS AND FAMILIES IN THE PRIOR YEAR. IN RECOGNITION OF HIS ROLE, AS DIRECTOR OF DEBT OPERATIONS, IN ACHIEVING THESE RESULTS, THE BOARD OF DIRECTORS APPROVED A BONUS OF $36,000 FOR MR. ANTICO IN 2019. ALSO, THE BOARD APPROVED ADDITIONAL FULLY TAXABLE COMPENSATION OF $28,511 IN LIEU OF HIS PARTICIPATION IN A GROUP HEALTH INSURANCE PLAN.
Form 990, Part I, Line 1
MISSION OF MEDICAL DEBT RESOLUTION, INC., DBA "RIP MEDICAL DEBT" RIP MEDICAL DEBT IS A 501(C)(3) NONPROFIT WHOSE MISSION IS TO LOCATE, PURCHASE AND THEN ABOLISH UNPAID AND UNPAYABLE MEDICAL DEBT AS A BENEFIT TO SOCIETY AS WELL AS THE DEBTOR. RIP WAS FOUNDED IN 2014 BY TWO FORMER COLLECTION INDUSTRY EXECUTIVES WHO DECIDED TO PUT THEIR EXPERTISE TO WORK TO FORGIVE DEBT RATHER THAN COLLECT IT. USING DEMOGRAPHIC AND CONSUMER CREDIT DATA, RIP ANALYZES BUNDLED DEBT PORTFOLIOS HELD BY HEALTHCARE PROVIDERS AND SECONDARY MARKET DEBT SELLERS TO IDENTIFY ACCOUNTS MEETING ITS CRITERIA FOR FINANCIAL RELIEF. RIP THEN NEGOTIATES TO BUY THESE PORTFOLIOS AT THEIR CURRENT INDUSTRY MARKET VALUE, OFTEN PAYING LESS THAN A PENNY ON THE DOLLAR. ONCE PURCHASED, RIP FORGIVES THE DEBT ON BEHALF OF THE DONOR, AT NO COST OR TAX CONSEQUENCE TO THE DEBTOR. THE DEBT IS ALSO REMOVED FROM THE CREDIT REPORTS OF THE DEBTOR. WHY MEDICAL DEBT? * UNLIKE OTHER DEBT, MEDICAL DEBT IS NOT A DEBT OF "CHOICE", I.E. PEOPLE DO NOT "CHOOSE" TO GET SICK * DEBTORS ARE THE "COLLATERAL DAMAGE" OF A FLAWED HEALTHCARE, PHARMA AND INSURANCE SYSTEM * 43 MILLION AMERICANS NOW OWE ABOUT $75 BILLION IN PAST-DUE MEDICAL DEBT * MORE THAN 1 IN 3 AMERICANS STRUGGLE TO AFFORD THE COST OF THEIR MEDICAL CARE * MEDICAL DEBT CONTRIBUTES TO MORE THAN 60 PERCENT OF ALL BANKRUPTCIES IN THE USA * 75 PERCENT OF ALL INDIVIDUALS IN MEDICAL BANKRUPTCY HAD HEALTH INSURANCE COVERAGE * MEDICAL DEBT LINGERS ON A PERSON'S CREDIT REPORT, MAKING IT HARDER TO PURCHASE OR RENT A HOME, BUY A VEHICLE, OBTAIN A CREDIT CARD, OR EVEN GAIN EMPLOYMENT. WHO QUALIFIES FOR RIP DEBT FORGIVENESS? * HOUSEHOLDS EARNING LESS THAN TWO TIMES THE FEDERAL POVERTY LEVEL * PERSONS FACING INSOLVENCY, DEFINED AS HAVING DEBTS GREATER THAN ASSETS * THOSE EXPERIENCING OTHER TYPES OF FINANCIAL HARDSHIP HOW IS A GIFT TO RIP DIFFERENT FROM A GIFT TO OTHER CHARITIES? BECAUSE RIP BUYS DEBT IN BULK, SPECIFICALLY TARGETING PEOPLE UNABLE TO PAY, IT IS ABLE TO BUY DEBT AT A LARGE DISCOUNT, OFTEN PAYING LESS THAN A PENNY ON THE DOLLAR. EVEN AFTER TAKING INTO ACCOUNT RIP'S OTHER PROGRAM AND ADMINISTRATIVE COSTS, A DONOR'S GIFT IS ABLE TO PROVIDE BENEFITS FAR GREATER THAN THE AMOUNT OF THE GIFT ITSELF. BECAUSE OF THIS LEVERAGE EFFECT, OVER ITS SHORT HISTORY RIP HAS BEEN ABLE TO FORGIVE MORE THAN $2.6 BILLION OF MEDICAL DEBT, PROVIDING MORE THAN $100 OF DEBT RELIEF FOR EACH DOLLAR DONATED. NO OTHER CHARITY WE ARE AWARE OF PROVIDES THIS KIND OF RETURN ON A DONOR'S INVESTMENT.
Form 990, Part I, Line 3
CHANGES TO TOTAL NUMBER OF DIRECTORS FROM DECEMBER 31, 2019 TO FORM 990 FILING DATE: ON JANUARY 9, 2020, JONATHAN LINDSEY WAS ELECTED TO THE BOARD OF DIRECTORS. ON AUGUST 24, 2020, CRAIG ANTICO RESIGNED FROM THE BOARD OF DIRECTORS AND, IN A RESOLUTION PASSED BY THE BOARD OF DIRECTORS, WAS AWARDED THE TITLE, DIRECTOR EMERITUS, WHICH UNDER THE AMENDED BYLAWS OF THE CORPORATION IS NOT COUNTED AS A MEMBER OF THE BOARD FOR PURPOSES OF VOTING AND ESTABLISHING A QUORUM. AFTER TAKING INTO ACCOUNT THE CHANGES DESCRIBED ABOVE, THE TOTAL NUMBER OF DIRECTORS OF THE CORPORATION AS OF THE DATE OF THIS FILING IS 9.
Form 990, Part I, Line 4
CHANGES TO NUMBER OF INDEPENDENT DIRECTORS FROM DECEMBER 31, 2019 TO FORM 990 FILING DATE: ON JANUARY 9, 2020, JONATHAN LINDSEY WAS ELECTED TO THE BOARD AS AN INDEPENDENT DIRECTOR. AFTER TAKING INTO ACCOUNT THIS CHANGE, THE NUMBER OF INDEPENDENT DIRECTORS OF THE CORPORATION AS OF THE DATE OF THIS FILING IS 8.
Form 990, Part III, Line 4d
DESCRIPTION OF TECHNOLOGY INFRASTRUCTURE DEVELOPMENT PROGRAM: RESEARCH, DESIGN, AND DEVELOP TECHNOLOGIES TO DIRECTLY SUPPORT THE ORGANIZATION'S CORE MISSION OF LOCATING, ACQUIRING, AND ABOLISHING MEDICAL DEBT.
Form 990, Part VI, Section A, Line 2
FAMILY RELATIONSHIPS: TED SANN, DIRECTOR, IS THE BROTHER-IN-LAW OF WILLIAM VON MUEFFLING, DIRECTOR AND BOARD CHAIR.
Form 990, Part VI, Section B, Line 11b
FORM 990 REVIEW PROCESS: A COMPLETE COPY OF THIS FORM 990 HAS BEEN REVIEWED BY BOTH THE AUDIT COMMITTEE AND THE FULL BOARD OF DIRECTORS PRIOR TO FILING. THIS PROCESS IS PRESCRIBED IN THE CHARTER OF THE ORGANIZATION'S AUDIT COMMITTEE.
Form 990, Part VI, Section B, Line 12c
THE ORGANIZATION ENFORCES THE CONFLICT OF INTEREST POLICY BY MONITORING KNOWN RELATIONSHIPS, QUESTIONNAIRES, AND NOTING ANY CHANGES IN DISCLOSED INFORMATION. ANY CONFLICT IS REVIEWED BY THE BOARD BEFORE A DECISION IS MADE AS TO WHETHER TO APPROVE THE TRANSACTION.
Form 990, Part VI, Section B, Line 15
PROCESS FOR DETERMINING COMPENSATION OF THE ORGANIZATION'S EXECUTIVE DIRECTOR: IN 2019, THE ORGANIZATION'S EXECUTIVE DIRECTOR, TED SANN, SERVED WITHOUT COMPENSATION. IN JANUARY 2020, THE ORGANIZATION HIRED A NEW EXECUTIVE DIRECTOR, WHOSE COMPENSATION WAS DETERMINED BY THE INDEPENDENT MEMBERS OF THE BOARD IN ACCORDANCE WITH WRITTEN POLICY, AND INFORMED BY A REPORT OF INDEPENDENT COMPENSATION CONSULTANTS, INCLUDING MARKET SURVEYS, AND OTHER INDEPENDENT RESEARCH.PROCESS FOR DETERMINING COMPENSATION OF OFFICERS AND OTHER KEY EMPLOYEES: IN 2019, THE COMPENSATION OF OFFICERS AND KEY EMPLOYEES WAS DETERMINED BY THE INDEPENDENT MEMBERS OF THE BOARD IN ACCORDANCE WITH WRITTEN POLICY, INFORMED, WHERE APPROPRIATE BY A REPORT OF INDEPENDENT COMPENSATION CONSULTANTS AND OTHER INDEPENDENT RESEARCH, INCLUDING MARKET SURVEYS. COMPENSATION COMMITTEE: IN 2020, THE BOARD ESTABLISHED A NEW COMPENSATION COMMITTEE, COMPRISED OF AT LEAST THREE (3) INDEPENDENT DIRECTORS, WITH RESPONSIBILITY FOR ADVISING THE INDEPENDENT MEMBERS OF THE BOARD IN SETTING THE COMPENSATION OF THE ORGANIZATION'S EXECUTIVE DIRECTOR, OFFICERS, AND OTHER KEY EMPLOYEES. CURRENTLY THE NUMBER OF PERSONS SERVING ON THE COMPENSATION COMMITTEE IS FOUR (4).
Form 990, Part VI, Section C, Line 17
STATES TO WHICH ORGANIZATION SUBMITS A COPY OF FORM 990: AL,AK,AZ,AR,CA,CO,CT,DC,FL,GA,HI,IL,KS,KY,LA,ME,MD,MA,MI,MN,MS,NV,NH,NJ,NM,NC,ND,OH,OK,OR,PA,RI,SC,TN,UT,VA,WA,WV,WI
Form 990, Part VI, Section C, Line 19
THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. WHERE REQUIRED, THE ORGANIZATION ALSO FURNISHES THESE DOCUMENTS TO STATE AUTHORITIES.
Form 990, Part VII, Section A, Line 1a
CHANGES TO TOTAL NUMBER OF DIRECTORS FROM DECEMBER 31, 2019 TO FORM 990 FILING DATE: ON JANUARY 9, 2020, JONATHAN LINDSEY WAS ELECTED TO THE BOARD OF DIRECTORS. ON AUGUST 24, 2020, CRAIG ANTICO RESIGNED FROM THE BOARD OF DIRECTORS AND, IN A RESOLUTION PASSED BY THE BOARD OF DIRECTORS, WAS AWARDED THE TITLE, DIRECTOR EMERITUS, WHICH UNDER THE AMENDED BYLAWS OF THE CORPORATION IS NOT COUNTED AS A MEMBER OF THE BOARD FOR PURPOSES OF VOTING AND ESTABLISHING A QUORUM. AFTER TAKING INTO ACCOUNT THE CHANGES DESCRIBED ABOVE, THE TOTAL NUMBER OF DIRECTORS OF THE CORPORATION AS OF THE DATE OF THIS FILING IS 9.CHANGES TO OFFICERS FROM DECEMBER 31, 2019 TO FORM 990 FILING DATE: AT A MEETING OF THE ORGANIZATION'S BOARD OF DIRECTORS ON DECEMBER 18, 2019, ALLISON SESSO WAS ELECTED TO THE POSITION OF EXECUTIVE DIRECTOR AS OF JANUARY 27, 2020, SUCCEEDING TED SANN. AT A MEETING OF THE ORGANIZATION'S BOARD OF DIRECTORS ON SEPTEMBER 16, 2020, JOSE PENABAD WAS ELECTED TO SERVE AS TREASURER, SUCCEEDING CHRISTOPHER SIMMONS.
Form 990, Part IX, Line 24a - 24d
DETAILS OF COST OF DEBT ABOLISHED........ PURCHASES - DEBT PORTFOLIOS: 3,845,633; PURCHASES - DONATED DEBT: 639,457; PURCHASES - DEBT ANALYSIS FEES: 48,700; PURCHASES - DEBT PLATFORM FEES: 42,147; PURCHASES - ANALYTICAL DATA: 199,567; DE/(IN)CREASE IN DEFERRED DEBT COSTS: (541,001); MAILING SERVICES: 210,858 ............... TOTAL COST OF DEBT ABOLISHED: 4,445,361
Form 990, Part XII, Line 2c
DURING 2019, THE ORGANIZATION'S INDEPENDENT DIRECTORS HAD RESPONSIBILITY UNDER THE ORGANIZATION'S FINANCIAL REPORTING POLICY FOR OVERSIGHT OF THE ORGANIZATION'S AUDIT AND SELECTION OF AUDITOR. IN 2020, THE ORGANIZATION ESTABLISHED AN AUDIT COMMITTEE AND ASSIGNED IT RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT, SELECTION OF AUDITORS, REVIEW OF THE ORGANIZATION'S FORM 990, AND ASSESSMENT OF INTERNAL CONTROLS.