Virginia Center For Health Innovation
- Assets
- $1.4m
- Revenue
- $953.1k
- Investments
- $0.0
- Employees
- 6
- Location
- Midlothian, VA
- Founding
- 03/2013
- Data as of
- 12/2023
- EIN
- 80-0796077
Organization Overview
Virginia Center For Health Innovation is located in Midlothian, VA. The organization was established in 2013. According to its NTEE Classification (E05) the organization is classified as: Research Institutes & Public Policy Analysis, under the broad grouping of Health Care and related organizations. As of 12/2023, Virginia Center For Health Innovation employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Center For Health Innovation 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 12/2023, Virginia Center For Health Innovation generated $953.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (8.9%) each year. All expenses for the organization totaled $1.1m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (6.9%) per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE VIRGINIA CENTER FOR HEALTH INNOVATION (VCHI) IS TO FACILITATE INNOVATION BY CONVENING KEY STAKEHOLDERS AND SECURING THE RESOURCES TO ACCELERATE VALUE-DRIVEN MODELS OF WELLNESS AND HEALTH CARE THROUGHOUT VIRGINIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SMARTER CARE VA - THIS INITIATIVE, FUNDED BY ARNOLD VENTURES, EMPLOYS A TWO-PART STRATEGY TO REDUCE NINE SOURCES OF PROVIDER-DRIVEN LOW-VALUE CARE, PRIORITIZE A NEXT SET OF CONSUMER-DRIVE MEASURES AND EVALUATE RESULTS.
VA HEALTH VALUE DASHBOARD - THE PURPOSE IS TO BETTER UNDERSTAND HOW VIRGINIA PERFORMS IN TERMS OF DELIVERING HEALTH VALUE AND TO DETERMINE HOW WE CAN PROMPT ACTION FOR IMPROVEMENT WHERE NECESSARY. THE DASHBOARD HAS 3 AIMS: REDUCING LOW VALUE HEALTH CARE, INCREASING HIGH VALUE HEALTH CARE, AND IMPROVING THE INFRASTRUCTURE FOR ADVANCING VALUE-BASED HEALTH CARE, WITH A FOCUS ON DATA INFRASTRUCTURE, HEALTH INFORMATION EXCHANGE, AND INVESTMENT IN POPULATION HEALTH INITIATIVES.
VCHI LAUNCHED THE VIRGINIA TASK FORCE ON PRIMARY CARE TO: BUILD A STAKEHOLDER COALITION TO DIRECT PRIMARY CARE SUPPORT AND ADVANCE THE USE OF DATA/COMMUNICATION SYSTEMS FOR ACTION; DEFINE PAYMENT MODELS TO BETTER SUPPORT PRIMARY CARE AND SUPPORT PRACTICE VIABILITY THROUGH SYSTEMS THAT ALLOW FOR PREDICTABILITY IN FINANCIAL SUPPORT; DESCRIBE THE INFRASTRUCTURE NEEDED TO SUPPORT PRIMARY CARE; IDENTIFY MARKERS OF HIGH VALUE CARE IN THE COVID AND POST COVID ERA TO FUNCTION AS QUALITY METRICS; AND PROMOTE INNOVATIONS IN TELEHEALTH, POPULATION HEALTH MANAGEMENT, AND OUTREACH TO ADAPT TO THE CHANGING COVID ENVIRONMENT.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anthony Tony Keck Immediate Past Chair | OfficerTrustee | 1 | $0 |
Jane Kusiak Director | Trustee | 1 | $0 |
Christina Stasiuk Former Secretary | OfficerTrustee | 1 | $0 |
Melinda Hancock Chair | OfficerTrustee | 1 | $0 |
Jeff Ricketts Vice Chair | OfficerTrustee | 1 | $0 |
Meredith Touchstone Vice Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Virginia Health Information Smarter Care Va And Dashboard Consulting | 12/30/22 | $167,500 |
Community Health Solutions Strategy Consulting And Learning Support | 12/30/22 | $101,702 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $178,513 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $23,624 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $202,137 |
| Total Program Service Revenue | $717,980 |
| Investment income | $29,244 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$396 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $953,065 |
| 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. | $284,854 |
| Compensation of current officers, directors, key employees. | $56,971 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $189,174 |
| Pension plan accruals and contributions | $19,071 |
| Other employee benefits | $20,580 |
| Payroll taxes | $31,548 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,500 |
| Fees for services: Accounting | $61,264 |
| Fees for services: Lobbying | $32,800 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $459,289 |
| Advertising and promotion | $1,656 |
| Office expenses | $5,037 |
| Information technology | $4,091 |
| Royalties | $0 |
| Occupancy | $974 |
| Travel | $1,750 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,309 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,646 |
| Insurance | $8,595 |
| All other expenses | $0 |
| Total functional expenses | $1,145,763 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $666,095 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $186,532 |
| 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 | $4,121 |
| Net Land, buildings, and equipment | $4,367 |
| Investments—publicly traded securities | $500,556 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,361,671 |
| Accounts payable and accrued expenses | $102,776 |
| Grants payable | $0 |
| Deferred revenue | $266,619 |
| 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 | $0 |
| Total liabilities | $369,395 |
| Net assets without donor restrictions | $863,098 |
| Net assets with donor restrictions | $129,178 |
| 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 | $1,361,671 |