Caresource
- Assets
- $1.0b
- Revenue
- $360.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Dayton, OH
- Founding
- 06/2003
- Data as of
- 12/2022
- EIN
- 31-1703368
Organization Overview
Caresource is located in Dayton, OH. The organization was established in 2003. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Caresource is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Caresource generated $360.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (16.1%) each year. All expenses for the organization totaled $28.9m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (41.3%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Caresource has awarded 112 individual grants totaling $10,265,509. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
CARESOURCE'S MISSION IS TO MAKE A LASTING DIFFERENCE IN MEMBERS' LIVES BY IMPROVING THEIR HEALTH AND WELL-BEING BY SUPPORTING THE NONPROFIT ENTITIES IN THE CARESOURCE FAMILY OF CO.
Describe the Organization's Program Activity:
CARESOURCE, AS A SUPPORTING ORGANIZATION UNDER SECTION 509(A)(2) OF THE INTERNAL REVENUE CODE, PROVIDES STRATEGIC OVERSIGHT TO ITS SUPPORTED ORGANIZATIONS, CARESOURCE OHIO, INC., CARESOURCE INDIANA, INC., CARESOURCE KENTUCKY CO, CARESOURCE GEORGIA CO, CARESOURCE WEST VIRGINIA CO, AND CARESOURCE LIFE SERVICES CO (THE "CARESOURCE FAMILY OF COMPANIES"). THESE SUPPORTED ORGANIZATIONS ARE EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. (CONTINUED ON SCHEDULE O)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Erhardt Preitauer President & Ceo, Director | OfficerTrustee | 15 | $0 |
Richard Topping Chief Legal Officer, Secretary | Officer | 45 | $0 |
Jai Pillai Chief Operating Officer | Officer | 15 | $0 |
Lawrence Smart Cfo, Treasurer | Officer | 15 | $0 |
Sanjoy Musunuri Evp Strategy & Business Dev | Officer | 15 | $0 |
Scott Markovich Evp Markets & Products | Officer | 15 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Community For Handicapped Children Medical Services | 12/30/22 | $392,690 |
St Jude Children's Research Hospita Medical Services | 12/30/22 | $325,000 |
Baptist Healthcare System Inc Medical Services | 12/30/22 | $117,817 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $27,530 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $27,530 |
| Total Program Service Revenue | $64,334,424 |
| Investment income | $296,178,447 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $92,743 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $360,633,144 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,500,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $483,115 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $43,146 |
| Fees for services: Accounting | $486,009 |
| Fees for services: Lobbying | $183,643 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,854 |
| Fees for services: Other | $2,040,538 |
| Advertising and promotion | $0 |
| Office expenses | $315,212 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,735,099 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $12,019,792 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,773,921 |
| Insurance | $30,655 |
| All other expenses | $0 |
| Total functional expenses | $28,890,756 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $343,905,147 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $46,932,718 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $173,566 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $158,500 |
| Net Land, buildings, and equipment | $101,768,183 |
| Investments—publicly traded securities | $120,320,200 |
| Investments—other securities | $0 |
| Investments—program-related | $263,378,712 |
| Intangible assets | $0 |
| Other assets | $136,503,641 |
| Total assets | $1,013,140,667 |
| Accounts payable and accrued expenses | $13,404,390 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $262,550,979 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $275,955,369 |
| Net assets without donor restrictions | $737,185,298 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,013,140,667 |
Grants Awarded
Over the last fiscal year, Caresource has awarded $4,500,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
THE CARESOURCE FOUNDATION PURPOSE: General Support | $3,500,000 |
UNITED CHURCH HOMES PURPOSE: Apartment community project support | $1,000,000 |