Colorado Health Benefit Exchange
- Assets
- $41.2m
- Revenue
- $42.7m
- Investments
- $0.0
- Employees
- 182
- Location
- Denver, CO
- Founding
- 05/2014
- Data as of
- 06/2021
- EIN
- 45-3733823
Organization Overview
Colorado Health Benefit Exchange, operating under the name Connect For Health Colorado, is located in Denver, CO. The organization was established in 2014. According to its NTEE Classification (E80) the organization is classified as: Health (General & Financing), under the broad grouping of Health Care and related organizations. As of 06/2021, Connect For Health Colorado employed 182 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Connect For Health Colorado 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 06/2021, Connect For Health Colorado generated $42.7m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $42.5m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (5.2%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Connect For Health Colorado has awarded 180 individual grants totaling $20,756,143. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO INCREASE ACCESS, AFFORDABILITY, AND CHOICE FOR INDIVIDUALS PURCHASING INSURANCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
C4HCO CONTINUED TO MEET THE EXPECTATIONS OF ITS MISSION OF INCREASING ACCESS, AFFORDABILITY AND CHOICE FOR COLORADO HEALTH INSURANCE CUSTOMERS. ACROSS THE STATE, COLORADAN'S CONTINUED TO MAINTAIN INSURANCE COVERAGE THROUGH C4HCO IN 2021, WITH RESIDENTS FROM EVERY COUNTY IN THE STATE SIGNING UP FOR MEDICAL COVERAGE THROUGH THE MARKETPLACE. CONNECT FOR HEALTH COLORADO SAW NEARLY 180,000 COLORADANS SIGN UP FOR A MEDICAL PLAN DURING THE OPEN ENROLLMENT PERIOD THAT RAN FROM NOVEMBER 1, 2020 TO JANUARY 15, 2021. THREE OUT OF FOUR OF THOSE CUSTOMERS (74%) RECEIVED FINANCIAL HELP TO REDUCE THEIR MONTHLY PREMIUM.(CONTINUED ON SCHEDULE O.)UPON THE ISSUANCE OF THE AMERICAN RESCUE PLAN ACT ("ARP") IN MARCH 2021, ENROLLMENT WAS EXTENDED TO AUGUST 15. THE ARP INCREASED ACA SUBSIDY AMOUNTS AND EXPANDED ELIGIBILITY TO HIGHER INCOME HOUSEHOLDS RESULTING IN AN ADDITIONAL 32,000 COLORADANS SIGNING UP FOR A MEDICAL PLAN DURING 2021. FOR THE 2020 PLAN YEAR, COLORADANS RECEIVED $497 MILLION IN FEDERAL TAX CREDITS THROUGH THE MARKETPLACE. CONNECT FOR HEALTH COLORADO WAS ALSO FOCUSED ON IMPLEMENTING TWO NEW PIECES OF STATE LEGISLATION DURING THE YEAR. BOTH OF THE PROGRAMS ESTABLISHED BY THESE STATE ACTS ARE EXPECTED TO HAVE A POSITIVE IMPACT ON ENROLLMENT. WE CONTINUED OUR MULTI-YEAR COMMITMENT TO INVEST IN TECHNOLOGY TO IMPROVE THE USER EXPERIENCE. IN ADDITION TO TECHNOLOGY ENHANCEMENTS IN RESPONSE TO NEW LEGISLATION, CONNECT FOR HEALTH COLORADO CONTINUED TO MODERNIZE THE MARKETPLACE PLATFORM DURING THE FISCAL YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Patterson Chief Executive Officer | Officer | 43 | $295,408 |
Brian Braun Chief Financial Officer | Officer | 48 | $231,706 |
Kelly Guthner Chief Innovation Officer | Officer | 43 | $213,655 |
Monica Vanbuskirk Chief Policy & Relationships Officer | 45 | $189,913 | |
Nyle Boyd Chief Human Resources Director | 45 | $180,084 | |
Alan Schmitz General Counsel/compliance Officer | 43 | $175,937 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cgi Technology Developmnet | 6/29/21 | $11,570,519 |
Faneuil Inc Technology Developmnet | 6/29/21 | $4,762,290 |
Hcentive Technology Developmnet | 6/29/21 | $1,594,613 |
Hire Connections Customer Service | 6/29/21 | $1,063,386 |
Quanta Intelligence Inc Technology Developmnet | 6/29/21 | $496,665 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $6,702,194 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,000,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,702,194 |
| Total Program Service Revenue | $30,963,128 |
| Investment income | $63,682 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $42,741,707 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $746,782 |
| Compensation of current officers, directors, key employees. | $216,173 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,696,584 |
| Pension plan accruals and contributions | $895,887 |
| Other employee benefits | $2,283,393 |
| Payroll taxes | $898,568 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $26,430 |
| Fees for services: Accounting | $353,630 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $215,515 |
| Advertising and promotion | $0 |
| Office expenses | $339,617 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $499,264 |
| Travel | $2,398 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,397 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,524,574 |
| Insurance | $89,689 |
| All other expenses | $36,210 |
| Total functional expenses | $42,502,061 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,665,800 |
| Savings and temporary cash investments | $4,710,790 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,429,504 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,417,952 |
| Net Land, buildings, and equipment | $14,893,961 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $25,000 |
| Intangible assets | $0 |
| Other assets | $68,875 |
| Total assets | $41,211,882 |
| Accounts payable and accrued expenses | $5,783,428 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $134,108 |
| Total liabilities | $5,917,536 |
| Net assets without donor restrictions | $20,400,385 |
| Net assets with donor restrictions | $14,893,961 |
| 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 | $41,211,882 |
Grants Awarded
Over the last fiscal year, Colorado Health Benefit Exchange has awarded $3,996,446 in support to 36 organizations.
| Grant Recipient | Amount |
|---|---|
Aurora, CO PURPOSE: ASSISTANCE NETWORK | $214,712 |
Aurora, CO PURPOSE: ASSISTANCE NETWORK | $214,712 |
BOULDER COUNTY HOUSING AND HUMAN SERVICES PURPOSE: ASSISTANCE NETWORK | $210,240 |
BOULDER COUNTY HOUSING AND HUMAN SERVICES PURPOSE: ASSISTANCE NETWORK | $210,240 |
Littleton, CO PURPOSE: ASSISTANCE NETWORK | $198,482 |
Littleton, CO PURPOSE: ASSISTANCE NETWORK | $198,482 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Colorado Health Benefit Exchange has recieved totaling $3,153,800.
| Awarding Organization | Amount |
|---|---|
The Colorado Health Foundation Denver, CO PURPOSE: IMPROVE ACCESS TO HEALTH COVERAGE | $3,153,800 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Comprehensive Health Insurance Association Great Bend, KS | $122,969,212 | $99,936,486 |
Delta Dental Plan Of New Mexico Inc Albuquerque, NM | $81,908,346 | $75,517,286 |
Oneworld Community Health Centers Inc Omaha, NE | $55,753,804 | $50,338,832 |
Valley-Wide Health Systems Inc Alamosa, CO | $46,697,315 | $52,431,671 |
Delta Dental Plan Of Wyoming Cheyenne, WY | $25,241,153 | $47,484,534 |
Colorado Health Benefit Exchange Denver, CO | $41,211,882 | $42,741,707 |
Nurse Family Partnership Denver, CO | $58,934,670 | $51,421,295 |
Uchealth Laboratory Services Llc Denver, CO | $0 | $34,399,374 |
Washington State Health Insurance Pool Great Bend, KS | $15,414,499 | $29,306,973 |
Delta Dental Of Nebraska Omaha, NE | $13,547,591 | $26,037,391 |
Zion Health St George, UT | $13,690,027 | $30,278,817 |
Northeast Oklahoma Community Health Centers Inc Hulbert, OK | $28,383,218 | $24,477,125 |