Caresource Kentucky Co
- Assets
- $65.1m
- Revenue
- $233.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Dayton, OH
- Founding
- 07/2016
- Data as of
- 12/2022
- EIN
- 46-4991603
Organization Overview
Caresource Kentucky Co is located in Dayton, OH. The organization was established in 2016. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, 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 Kentucky Co 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 Kentucky Co generated $233.4m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 48.3% each year . All expenses for the organization totaled $237.9m during the year ending 12/2022. While expenses have increased by 42.4% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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"). ON JULY 7, 2016, CSKY RECEIVED A DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE, RECOGNIZING CSKY AS AN ORGANIZATION EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, EFFECTIVE AS OF THE DATE OF CSKY'S FORMATION. CSKY IS A MEMBER OF THE CARESOURCE GROUP OF NONPROFIT ORGANIZATIONS (THE "CARESOURCE GROUP"). (CONTINUED ON SCHEDULE O)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Erhardt Preitauer President & CEO | Officer | 8 | $0 |
Jai Pillai Chief Operating Officer | Officer | 8 | $0 |
Lawrence Smart Chief Financial Officer | Officer | 8 | $0 |
Scott Markovich Evp Markets & Products, Dir | Trustee | 8 | $0 |
Daniel Mccabe Chief Admin Officer (to 4/22) | Officer | 1 | $0 |
Stephanie Williams SVP Ch Acty, Dir (eff 4/22) | Trustee | 10 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Express Scripts Inc Pharmacy Services | 12/30/22 | $79,611,312 |
Dentaquest Group Inc Medical Services | 12/30/22 | $645,270 |
National Imaging Associates Inc Medical Services | 12/30/22 | $113,391 |
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 | $232,716,749 |
| Investment income | $723,427 |
| 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 | $233,440,176 |
| 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 | $104,971 |
| Fees for services: Accounting | $117,637 |
| Fees for services: Lobbying | $30,015 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,400 |
| Fees for services: Other | $9,299,566 |
| Advertising and promotion | $1,095,501 |
| Office expenses | $4,004,482 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $609,808 |
| Travel | $76,727 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,582 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $91,914 |
| All other expenses | $1,500,052 |
| Total functional expenses | $237,898,173 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $26,831,546 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,386,998 |
| 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 | $13,305 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $33,912,392 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $65,144,241 |
| Accounts payable and accrued expenses | $33,251,589 |
| Grants payable | $0 |
| Deferred revenue | $4,830,910 |
| 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 | $1,904,144 |
| Total liabilities | $39,986,643 |
| Net assets without donor restrictions | $25,157,598 |
| 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 | $65,144,241 |