Kentucky Health Cooperative Inc
- Assets
- $91.0m
- Revenue
- $6.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Stuart, VA
- Founding
- 05/2013
- Data as of
- 12/2021
- EIN
- 45-3763404
Organization Overview
Kentucky Health Cooperative Inc is located in Stuart, VA. The organization was established in 2013. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 12/2021, Kentucky Health Cooperative Inc generated $6.9m 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 (36.3%) each year. All expenses for the organization totaled $1.5m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (52.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
KENTUCKY HEALTH COOPERATIVE EXISTED TO PROMOTE COMMUNITY HEALTH AND WELL-BEING BY ENGAGING THE MEMBERS AND PROVIDERS IT SERVED IN THE VALUED DELIVERY OF QUALITY COVERAGE OF INTEGRATED HEALTH CARE SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
KENTUCKY HEALTH COOPERATIVE, INC IS A CONSUMER GOVERNED, PRIVATE, NONPROFIT HEALTH INSURANCE ENTITY FOR THE PURPOSE OF ESTABLISHING A QUALIFIED NOT-FOR-PROFIT HEALTH INSURANCE ISSUER TO OFFER QUALIFIED HEALTH PLANS PRIMARILY IN THE INDIVIDUAL AND SMALL GROUP MARKETS IN THE COMMONWEALTH OF KENTUCKY IN ACCORDANCE WITH THE PROVISIONS OF THE PATIENT PROTECTION AND AFFORDABLE CARE ACT ENACTED ON MARCH 23, 2010. THE COOPERATIVE IS SUBJECT TO INSURANCE LAWS AND REGULATIONS OF THE KENTUCKY DEPARTMENT OF INSURANCE. DURING 2021, THE COMPANY DID NOT INSURE ANY MEMBERS AS THE FILING ORGANIZATION WAS ORDERED INTO LIQUIDATION IN 2016.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Jeremy Dunn Senior Accountant | Officer | 40 | $122,885 |
Don Roof Liquidator/ceo | OfficerTrustee | 15 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Examination Resources Liquidation Management | 12/30/21 | $256,113 |
Stoll Keenon Ogden Pllc Legal Services | 12/30/21 | $229,813 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $6,889,000 |
| Investment income | $6,178 |
| 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 | $6,895,178 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $913,316 |
| Fees for services: Accounting | $17,062 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $16,175 |
| Fees for services: Other | $407,146 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $35,547 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,461,443 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $90,968,622 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $399 |
| Total assets | $90,969,021 |
| Accounts payable and accrued expenses | $6,893,937 |
| 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 | $83,291,002 |
| Total liabilities | $90,184,939 |
| Net assets without donor restrictions | $0 |
| 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 | $784,082 |
| Total liabilities and net assets/fund balances | $90,969,021 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Tri-County Building Trades Welfare Fund Ona, WV | $25,786,876 | $22,983,725 |
Bush Brothers & Company Employees Benefit Tr Knoxville, TN | $646,705 | $13,680,587 |
Childrens Hospital Self-Insurance Trust Washington, DC | $0 | $0 |
North Carolina Insurance Guaranty Association Raleigh, NC | $120,494,721 | $22,094,183 |
Southern States Group Benefit Trust Richmond, VA | $1,559,030 | $9,812,364 |
Jackson Utility Division Benefits Program Trust Jackson, TN | $8,539,572 | $8,659,868 |
Property & Casualty Insurance Guaranty Corporation Towson, MD | $24,268,806 | $4,102,215 |
Hedrick Employee Group Benefit Plan Trust Salisbury, NC | $2,627,065 | $8,303,348 |
Asphalt Institute Inc Lexington, KY | $13,937,095 | $7,949,306 |
Piedmont Liability Trust Charlottesville, VA | $77,604,181 | $9,580,879 |
Baptist Healthcare System Inc Louisville, KY | $962,738 | $6,805,562 |
National Association Of Health Underwriters Washington, DC | $5,260,956 | $6,921,904 |