Graphite Health INC EIN 87-0933859 Form 990 (PDF) Claim this org

Graphite Health INC

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Develops health data standards to automate processes and improve interoperability for healthcare systems. For fiscal year 2025 it reported $47.4M in revenue, $6.7M in expenses, and $75K in net assets.Pt I

Founded
2021
Type
Membership association · Health Care
Location
Farmington, UT
Website
graphitehealth.io
Filings
5 on file (2021–2025)
Revenue
$47.4MFY2025
Expenses
$6.7M
Net assets
$75K
People
13
Filings
5
Updates
0
More identity details & actions ⌄
EIN  87-0933859 Membership association Farmington, UT Founded 2021
Form 990 (PDF)
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Figures match the IRS filing checked 9/1/26 · see original: IRS
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Size
$10–100M
What they do
Develops health data standards to automate processes and improve interoperability for healthcare systems.
Leadership
Jennifer Corey Schmid · Chief Commercial Officer · $474K
Money in and out
$47.4M revenue, $6.7M expenses
Bottom line
+86% operating surplus
Membership & operating revenue · FY2025
Total revenue
$47.4M
Pt VIII · Ln 12
Total expenses
$6.7M
Pt IX · Ln 25
Net assets
$75K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $40.6M
Where spending went · Part IX cols B–D
Program services $0.70 Management & general $0.30
Operating surplus
+86%
revenue over expenses▲ +100% vs prior filing year
Earned revenue
0%
of revenue from program services & dues
Payroll share
49%
of spending is salaries & benefits▲ +3% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$47.4M
FY2025▲ ×2785
Expenses
$6.7M
FY2025▼ -49%
Total assets
$606K
FY2025▼ -85%
Total liabilities
$531K
FY2025▼ -99%
Total revenue
$47.4M
Pt VIII · Ln 12
Total expenses
$6.7M
Pt IX · Ln 25
Net assets
$75K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$40.6M
Total assetsPt X · Ln 16$606K
Program-expense ratioPt IX · col B70%
Voting members of governing bodyPt I · Ln 36
Independent voting membersPt I · Ln 45
Mission & Programs · Part III

Where the work happens

2 program services account for $4.7M of program spending, described in the organization's own filed words · FY2025.
01

Platform Development

In 2025, graphite continued to enhance its platform software and refined its capabilities until the decision was made to cease all operations on may 1, 2025.

$3.3Mprogram expense
02

S2 Standard Development

In 2025, graphite continued development of a new standard which encodes operational semantics of health data, enabling process automation and interoperability for frictionless computing until the decision was made to cease all operations on may 1, 2025.

$1.4Mprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CGraphite Health INC
EINHdr · item D87-0933859
Principal addressHdr · item CFarmington, UT
WebsiteHdr · item Jgraphitehealth.io
Year of formationHdr · item L2021
State of legal domicileHdr · item MUT
Exempt statusHdr · item I501(c)(4) · active
NTEE classificationIRS BMFHealth Care (E60)
Ruling yearIRS BMFMar 2024

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a6
Independent voting membersPt VI · Ln 1b5
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 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Chief Commercial Officer
$473,925Pt VII · Sec A
SVP of Technology
$386,237Pt VII · Sec A
VP of Informatics
$272,893Pt VII · Sec A
VP of Finance
$236,926Pt VII · Sec A
VP of Operations
$192,208Pt VII · Sec A
Senior Medical Informatici
$170,959Pt VII · Sec A
Principal Software Enginee
$152,345Pt VII · Sec A
Principal Software Enginee
$151,923Pt VII · Sec A

Jennifer Corey Schmid’s $474K as Chief Commercial Officer is at the 74th percentile of top reported officer pay among 2900 $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

NameFY2025FY2024FY2023FY2022FY2021
Mark Ries Robinson$1,316,047$845,493$209,805
Harold Gaubert$188,726$1,279,801$739,945
Ryan Smith$851,876$1,075,144$507,102
Jennifer Brown$158,561$1,051,298$486,820
Swaminathan Sundaramurthy$386,237$512,076
Jennifer Corey Schmid$473,925$443,054$481,133$318,038$157,087
Joshua Karetney$432,864$295,648
Thomas Beale$272,893$416,342

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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Statement of Revenue

Part VIII
Other revenue$46.9M · 99%
Contributions & grants$500K · 1%
Other revenue99%$46.9M
Contributions & grants1%$500K
Investment income$6K
Total revenueLn 12$47.4M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.70 Management & general $0.30
Program services70%$4.7M
Management & general30%$2.0M
Total functional expensesLn 25$6.7M

Balance Sheet

Part X · end of year
CashLn 1$606K
Total assetsLn 16$606K
Total liabilitiesLn 26$531K
Total net assetsLn 32$75K
Months of cash on handcomputed1.1

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $606K · Operating expenses/yr $6.7M
1.1 months
Where the money goes
Program services
Program services $4.7M · Total expenses $6.7M
70%
Management & General
Management & general $2.0M · Total expenses $6.7M
30%
Fundraising
Fundraising $0 · Total expenses $6.7M
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $167K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $500K · Total revenue $47.4M
1%
Government reliance
Government grants — · Total revenue $47.4M
Earned-income share
Program service revenue $0 · Total revenue $47.4M
0%
Investment reliance
Investment income $6K · Total revenue $47.4M
+0.01%
Program self-sufficiency
Program service revenue $0 · Total expenses $6.7M
0%
Growth & trend
Revenue growth (YoY)
This year $47.4M · Prior year $17K
Prior-year revenue below floor — showing dollar change
Revenue CAGR
FY2021 $4.0M · FY2025 $47.4M
+85%
Net-asset trend (YoY)
End of year $75K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $47.4M · Expenses $6.7M
+86%
Liabilities-to-Assets
Total liabilities — · Total assets $606K
Net-asset ratio
Net assets $75K · Total assets $606K
12%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $606K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Jennifer Corey Schmid · Reported title CHIEF COMMERCIAL OFFICER · Highest reported compensation $474K · Total expenses $6.7M
7%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $3.3M · Total expenses $6.7M
49%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 70%
Overhead ratio 30%
Revenue growth ×2785

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
FY2025 (Latest)$47.4M revenue · viewing · ⤓ 990 PDF
FY2024$17K revenue · ⤓ 990 PDF
FY2023$17K revenue · ⤓ 990 PDF
FY2022$218 revenue · ⤓ 990 PDF
FY2021$4.0M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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