Floating Hospital Inc
Public records show a registered, tax-exempt organization in good standing.
What it says it does
THE HOSPITAL IS A FREE STANDING DIAGNOSTIC AND TREATMENT CENTER LICENSED UNDER ARTICLE 28 AND ARTICLE 31 OF THE NYS HEALTH LAW LOCATED IN LONG ISLAND CITY, NY. THE HOSPITAL PROVIDES A BROAD RANGE OF PRIMARY HEALTH CARE SERVICES TO A LARGELY MEDICALLY UNDERSERVED POPULATION. TFH IS ALSO A FEDERALLY QUALIFIED HEALTH CENTER WITH ALL THREE URBAN DESIGNATIONS UNDER SECTION 330.
- Income
- $33.6 million
- Spending
- $35.5 million
- Spent on programs
- 90%
- Reserves
- 1.9 months of spending
- Largest source of income
- fees for its services, 54%
- Employees
- 308
- Volunteers
- 15
- Highest pay
- $366,578, exceutive vp/cmo
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Weak: 49 out of 100. Higher than 31% of charities in its peer group (health care, $10m to $100m).
Reserves
10 of 35Spendable reserves would cover 1.9 months of spending.
Debt
5 of 20It owes 54% of what it owns.
Living within its means
4 of 15Spending exceeded income by 6% of income.
Income trend
15 of 15Income rose 4% on the year before.
Spending floor
15 of 1590% of spending went to programs and raising each dollar of donations cost 0 cents.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Strong: 100 out of 100. Higher than 52% of charities in its peer group (health care, $10m to $100m).
Independent board
25 of 2515 of 15 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (3)
- $12.8 million spent. THE FLOATING HOSPITAL IS A LEGACY ORGANIZATION IN NYC, FOUNDED IN 1866, THAT PROVIDES CARE IN THE FORM OF TRADITIONAL HEALTHCARE, HEALTH EDUCATION, AND RELIEF (THE DISTRIBUTION OF FOOD, CLOTHES, AND HYGIENE PRODUCTS) TO THE POOREST FAMILIES. IN ADDITION, IT OPERATES CAMPS, INTERNSHIPS AND LIFE SKILLS PROGRAMS TO HELP DISRUPT THE CYCLE OF POVERTY THAT ENGULFS THOSE FAMILIES MOST AT RISK. IT IS THE LARGEST PROVIDER OF SUCH CARE TO BOTH THE CITY'S HOMELESS FAMILY, AS WELL AS THE DV SAFE HOUSE, POPULATIONS. A SIGNIFICANT PORTION OF ITS WORK IS NOT FUNDED BY GOVERNMENT INSURANCE OR OTHER GOVERNMENT-BASED FUNDING.
- $12.8 million spent. IN ADDITION TO ITS HOMELESS FAMILY PROGRAMMING, THE HOSPITAL IS THE PRIMARY HEALTHCARE PROVIDER TO THOSE LIVING IN THE QUEENSBRIDGE/RAVENSWOOD HOUSES, THE LARGEST PUBLIC HOUSING COMPLEX IN NORTH AMERICA. THERE, IT PROVIDES SIMILAR CARE AND SERVICES TO THOSE IN THE HOMELESS FAMILY PROGRAMS.
- $6.3 million spent. ACS MEDICAL AND DENTAL PROGRAM - TFH IS THE MEDICAL PROVIDER TO THE NYC ADMINISTRATION FOR CHILDREN'S SERVICES, WHICH HANDLES ALL ASPECTS OF YOUTH UNASSOCIATED WITH A SPECIFIC HOME LIFE AT A PARTICULAR TIME, I.E., FOSTER CHILDREN (BOTH TEMPORARY AND PERMANENT), DETAINED YOUTH, ETC. TFH PROVIDES HEALTH CARE AND HEALTH EDUCATION TO THIS MEDICALLY FRAGILE AND INNER-CITY AT-RISK POPULATION AT SITES IN THE BRONX AND BROOKLYN.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since July 1924.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.