Point32health Inc
- Assets
- $2.5b
- Revenue
- -$13.5m
- Investments
- $28.4m
- Employees
- 0
- Location
- Canton, MA
- Founding
- 03/2017
- Data as of
- 12/2022
- EIN
- 81-4089215
Organization Overview
Point32health Inc is located in Canton, MA. The organization was established in 2017. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Point32health Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
POINT32HEALTH, INC.'S PURPOSE IS TO OPERATE EXCLUSIVELY FOR THE PROMOTION OF SOCIAL WELFARE, FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF,AND TO CARRY OUT THE PURPOSES OF AND OVERSEE ORGANIZATIONS THAT: (A) ARRANGE FOR THE PROVISION OF COMPREHENSIVE HEALTH CARE SERVICES, PRIMARILY ON A PRE-PAID BASIS, MANAGED CARE PROGRAMS,AND OTHER ALTERNATIVE HEALTH CARE DELIVERY PROGRAMS, INCLUDING PROGRAMS DIRECTED PRIMARILY AT LOW INCOME RESIDENTS; (B) PROMOTE HEALTH MAINTENANCE THROUGH PROVIDING AND/OR ARRANGING FOR THE PROVISION OF HEALTH EDUCATION SERVICES; AND/OR (C) PROMOTE POSITIVE REGIONAL HEALTH PLANNING BETWEEN PROVIDERS AND CONSUMERS. POINT32HEALTH, INC.'S ACTIVITIES INCLUDE SUPERVISING, OVERSEEING, AND APPROVING STRATEGIC PLANNING FOR TAHMO, THPP, HPHC ANDOTHER ENTITIES IN THE POINT32HEALTH ENTERPRISE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cain Hayes President & CEO | OfficerTrustee | 2.5 | $0 |
Michael Carson Former President | 0 | $0 | |
Umesh Kurpad CFO | Officer | 2.5 | $0 |
Derek Abruzzese Svp, Corp Strategy (end 4/15) | 2.5 | $0 | |
Thomas Croswell Former CEO | 0 | $0 | |
Tisa Hughes Clerk/secr;chief Legal Officer | Officer | 2.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Change Healthcare Technologies Outsource | 12/30/22 | $2,308,503 |
Ryan Colleary Consulting | 12/30/22 | $1,109,379 |
Deloitte Consulting Llp Consulting | 12/30/22 | $1,101,149 |
Ernst Young Llp Consulting | 12/30/22 | $955,189 |
Microsoft Licensing Gp Outsource | 12/30/22 | $938,325 |
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 | $0 |
| Investment income | $1,105,733 |
| 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 | -$13,473,446 |
| 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 | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $22,235 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $9,076 |
| Information technology | $87,186 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $15,377 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $37,275 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $126,267 |
| Total functional expenses | $1,246,725 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $74,005 |
| Savings and temporary cash investments | $159,714 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $54,128 |
| 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 | $28,350,006 |
| Investments—program-related | $0 |
| Intangible assets | $36,954,590 |
| Other assets | $2,392,598,847 |
| Total assets | $2,458,191,290 |
| Accounts payable and accrued expenses | $48,225 |
| 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 | $137,086 |
| Total liabilities | $185,311 |
| Net assets without donor restrictions | $2,458,005,979 |
| 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 | $2,458,191,290 |