Caresource Kentucky Co FY2022 filing

Tax-deductible

Dayton, OH501(c)(3)Since 2014HospitalsEIN 46-4991603Revenue $233.4M in FY2022

On file with the IRSPo Box 8738, 45401-8738 · Dayton, OHTax-exempt since Jul 2016Publicly supported — 509(a)(2)

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To Make a Lasting Difference in our members' lives by improving their health and well-being. CareSource Kentucky Co. is a nonprofit HMO licensed by the State of Kentucky.

501(c)(3) charity; gifts are tax-deductible.
87¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2022 · 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
3 of 5
filings with a surplus
Average deficit $1.2M a year · under 1% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
87%
of spending
Looks good: 87% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.4 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$40.0M
61% of total assets
Fine: liabilities are 61% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
0
of 3 voting members
Concern: none of 3 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$233.4M
-25% vs prior year
Spent
$237.9M
To programs
87%
Net assets
$25.2M
By yearFY2020–FY2024
Revenue
$233.4M
FY2022▼ -25%
Tap a bar for its year
Revenue by fiscal year
FY2020$254.5M
FY2021$313.2M
FY2022$233.4M
FY2023$188.3M
FY2024$172.8M
Expenses
$237.9M
FY2022▼ -20%
Tap a bar for its year
Expenses by fiscal year
FY2020$244.1M
FY2021$295.8M
FY2022$237.9M
FY2023$184.8M
FY2024$205.7M
Net assets
$25.2M
FY2022▼ -15%
Tap a bar for its year
Net assets by fiscal year
FY2020$30.3M
FY2021$29.6M
FY2022$25.2M
FY2023$28.7M
FY2024−$4.2M

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 2016.

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

Where the money goes

87 cents of each dollar spent went to programs.

Program services 87% · $207.8M Management & general 13% · $30.0M

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

9 people listed on the 990.

Part VII, Section A · reportable compensation
President & CEO
$0Pt VII · Sec A
Chief Operating Officer
$0Pt VII · Sec A
Chief Financial Officer
$0Pt VII · Sec A
EVP Markets & Products, Dir
$0Pt VII · Sec A
Chief Admin Officer (to 4/22)
$0Pt VII · Sec A
SVP Ch Acty, Dir (eff 4/22)
$0Pt VII · Sec A
President Market, Director
$0Pt VII · Sec A
VP Mkt Finance, Dir (to 4/22)
$0Pt VII · Sec A
See Caresource Kentucky Co executive salaries →

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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 15aNo

Programs and updates

Improves members' health and well-being to make a lasting difference in their lives.

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Provided by the organization

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1 program · $207.8M · in their own filed words · FY2022
01

CareSource Kentucky Co. ("CSKY"CareSource Kentucky") is a nonprofit organization established under the Commonwealth of Kentucky. CSKY was granted a Certificate of Authority by the Kentucky Department of Insurance ("KDOI"), allowing it to operate as a Health Maintenance Organization ("HMO").

$207.8Mprogram expense

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$233.4M
Ln 12
Fees for servicesLn 2g$232.7M
Investment incomeLn 3$723K
Money outPt IX
$237.9M
Ln 25
Programscol B$207.8M
Managementcol C$30.0M
Owns and owesPt X
$25.2M
net assets · Ln 32
Cash and savingsLn 1–2$26.8M
Total assetsLn 16$65.1M
LiabilitiesLn 26$40.0M
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$232.7M
Investment incomeLn 3$723K
Gains on assetsLn 7$0
Total revenueLn 12$233.4M
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$26.8M
Cash and savings togetherLn 1–2$26.8M
InvestmentsLn 11–13$33.9M
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$65.1M
LiabilitiesLn 26$40.0M
Net assetsLn 32$25.2M
OperationsPt I, VI
EmployeesI 50
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 FY22End FY22
Cash and savingsLn 1–2$69.4M$26.8M
InvestmentsLn 11–13$3.7M$33.9M
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$82.4M$65.1M
LiabilitiesLn 26$52.8M$40.0M
Net assetsLn 32$29.6M$25.2M
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$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$0
Legal feesLn 11b$105K$12K$93K$0
Accounting feesLn 11c$118K$0$118K$0
Lobbying feesLn 11d$30K$254$30K$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$3K$0$3K$0
Other fees for servicesLn 11g$9.3M$381K$8.9M$0
Advertising and promotionLn 12$1.1M$135$1.1M$0
Office expensesLn 13$4.0M$26K$4.0M$0
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$610K$0$610K$0
TravelLn 17$77K$11K$65K$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$5K$0$5K$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$92K$0$92K$0
Other expenses (24a–d)Ln 24$221.0M$207.2M$13.8M$0
All other expensesLn 24e$1.5M$237K$1.3M
Total functional expensesLn 25$237.9M$207.8M$30.0M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $172.8M$205.7M−$32.9M−$4.2M 990 PDF
FY2023 $188.3M$184.8M$3.5M$28.7M 990 PDF
FY2022 Viewing $233.4M$237.9M−$4.5M$25.2M 990 PDF
FY2021 $313.2M$295.8M$17.4M$29.6M 990 PDF
FY2020 $254.5M$244.1M$10.5M$30.3M 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 FY2022 990 (6 parts)
Part I · Summary $233,440,176 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $313,085,570$232,716,749
I-10 Investment incomePrior year $88,751$723,427
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $313,174,321$233,440,176
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 $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $295,814,892$237,898,173
I-18 Total expensesPrior year $295,814,892$237,898,173
I-19 Revenue less expensesPrior year $17,359,429−$4,457,997
Part VI · Governance 0 of 3 board members independent, 1 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members0
VI-15a Process for setting top official's payNo
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
Part VIII · Statement of revenue $233,440,176 across 8 lines filed
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 $232,716,749$232,716,749
VIII-3 Investment incomeExcluded from tax $723,427$723,427
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $232,716,749 · Excluded from tax $723,427$233,440,176
Part IX · Statement of functional expenses $237,898,173 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 wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal feesPrograms $11,722 · Management $93,249 · Fundraising $0$104,971
IX-11c Accounting feesPrograms $0 · Management $117,637 · Fundraising $0$117,637
IX-11d Lobbying feesPrograms $254 · Management $29,761 · Fundraising $0$30,015
IX-11e Professional fundraising fees$0
IX-11f Investment management feesPrograms $0 · Management $3,400 · Fundraising $0$3,400
IX-11g Other fees for servicesPrograms $380,747 · Management $8,918,819 · Fundraising $0$9,299,566
IX-12 Advertising and promotionPrograms $135 · Management $1,095,366 · Fundraising $0$1,095,501
IX-13 Office expensesPrograms $25,999 · Management $3,978,483 · Fundraising $0$4,004,482
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 OccupancyPrograms $0 · Management $609,808 · Fundraising $0$609,808
IX-17 TravelPrograms $11,246 · Management $65,481 · Fundraising $0$76,727
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 InterestPrograms $0 · Management $4,582 · Fundraising $0$4,582
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 InsurancePrograms $0 · Management $91,914 · Fundraising $0$91,914
IX-24 Other expenses (24a–d)Programs $207,182,368 · Management $13,777,150 · Fundraising $0$220,959,518
IX-24e All other expensesPrograms $237,393 · Management $1,262,659$1,500,052
IX-25 Total functional expensesPrograms $207,849,864 · Management $30,048,309 · Fundraising $0$237,898,173
Part X · Balance sheet $65,144,241 assets, 24 lines filed
X-1 Cash, non-interest-bearingStart of year $0$0
X-2 Savings and temporary cash investmentsStart of year $69,400,046$26,831,546
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $9,333,599$4,386,998
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $13,814$13,305
X-10c Land, buildings and equipment, netStart of year $0$0
X-11 Publicly traded securitiesStart of year $3,679,777$33,912,392
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 $0$0
X-16 Total assetsStart of year $82,427,236$65,144,241
X-17 Accounts payable and accrued expensesStart of year $38,765,980$33,251,589
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $12,538,784$4,830,910
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 $1,506,975$1,904,144
X-26 Total liabilitiesStart of year $52,811,739$39,986,643
X-27 Net assets without donor restrictionsStart of year $29,615,497$25,157,598
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $29,615,497$25,157,598
X-33 Total liabilities and net assetsStart of year $82,427,236$65,144,241
Part XI · Reconciliation of net assets $25,157,598 net assets at year end
XI-1 Total revenue$233,440,176
XI-2 Total expenses$237,898,173
XI-3 Revenue less expenses−$4,457,997
XI-4 Net assets at start of year$29,615,497
XI-5 Net unrealized gains (losses) on investments$98
XI-10 Net assets at end of year$25,157,598

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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