Carepartners Of Connecticut Inc
- Assets
- $23.6m
- Revenue
- $41.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Canton, MA
- Founding
- Data as of
- 12/2022
- EIN
- 82-2604728
Organization Overview
Carepartners Of Connecticut Inc is located in Canton, MA. According to its NTEE Classification (E80) the organization is classified as: Health (General & Financing), 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. Carepartners Of Connecticut 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.
For the year ending 12/2022, Carepartners Of Connecticut Inc generated $41.7m in total revenue. All expenses for the organization totaled $55.5m during the year ending 12/2022. While expenses have increased by 53.2% per year over the past 4 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
CAREPARTNERS OF CONNECTICUT, INC. (CPCT) WAS CREATED AS A NOT-FOR-PROFIT CONNECTICUT CORPORATION LICENSED AS A HEALTH CARE CENTER (HMO) IN CONNECTICUT (SEE SCHEDULE O)
Describe the Organization's Program Activity:
Part 3 - Line 4a
CPCT'S MEDICARE ADVANTAGE PLAN OFFERINGS ARE THE ORGANIZATION'S ONLY PROGRAM SERVICES PROVIDED IN 2022. CPCT FIRST ENROLLED SUBSCRIBERS FOR PLANS EFFECTIVE JANUARY 1, 2019. CPCT AND ITS AFFILIATES HAVE CONTRACTED WITH THOUSANDS OF PRIMARY CARE PHYSICIANS, SPECIALISTS, HOSPITALS AND COMMUNITY ORGANIZATIONS THROUGHOUT CONNECTICUT AND CURRENTLY OFFERS HEALTH COVERAGE IN HARTFORD, LITCHFIELD, NEW HAVEN, NEW LONDON, TOLLAND AND WINDHAM COUNTRIES. CPCT HAS DEVELOPED PROGRAMS TO INCREASE ACCESS TO CARE AND IMPROVE THE COORDINATION OF CARE FOR THOSE WHO NEED IT MOST. IN THE CASE OF MEDICARE ADVANTAGE MEMBERS, THOSE WITH CHRONIC CONDITIONS SUCH AS DIABETES, CHRONIC OBSTRUCTIVE PULMONARY DISORDER AND HEART FAILURE. CPCT PROVIDES HEALTH EDUCATION AND PROMOTION, COACHING, COMPLEX HEALTH ASSISTANCE, CONNECTION TO SOCIAL SERVICES AND PROGRAMS, COORDINATION OF ADDITIONAL SERVICES SUCH AS HOME CARE, AND CAREGIVER ASSISTANCE AND SUPPORT, FORMULATED TO TAKE ACCOUNT OF THE HEALTH RISKS AND CHALLENGES THAT PARTICULARLY AFFECTS SENIORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Derek Abruzzese Svp, Corp Strategy (end 4/15) | Trustee | 2.5 | $0 |
Patricia Blake Svp, President Medicare | Trustee | 10 | $0 |
Adam Scott Svp,pres.divers.bus. (dr. 6/7) | Trustee | 2.5 | $0 |
Roland Price Treasurer | Officer | 2.5 | $0 |
Marla Pantano President, Carepartners Of Ct | Officer | 50 | $0 |
Marc Spooner Former COO | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Magellan Behavioral Health Outsourcing | 12/30/19 | $3 |
Welltok Inc Outsourcing | 12/30/19 | $18,795 |
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 | $41,325,973 |
| Investment income | $342,518 |
| 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 | $41,668,491 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $34,500 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $41,312,690 |
| 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 | $12,556,882 |
| 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 | $0 |
| Fees for services: Other | $105,013 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $54,577 |
| 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 | $26,025 |
| Insurance | $0 |
| All other expenses | $32,505 |
| Total functional expenses | $55,528,279 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $683,361 |
| Savings and temporary cash investments | $13,035,775 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $982,940 |
| 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 | $5,486,334 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,443,414 |
| Total assets | $23,631,824 |
| Accounts payable and accrued expenses | $1,573,946 |
| Grants payable | $0 |
| Deferred revenue | $8,879 |
| 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 | $13,370,429 |
| Total liabilities | $14,953,254 |
| 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 | $8,678,570 |
| Total liabilities and net assets/fund balances | $23,631,824 |
Grants Awarded
Over the last fiscal year, Carepartners Of Connecticut Inc has awarded $34,500 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
HARTFORD MARATHON FOUNDATION PURPOSE: GRAND MASTER AWARDS | $7,500 |
HARTFORD SYMPHONY ORCHESTRA PURPOSE: TALCOTT MUSIC FESTIVAL | $15,000 |
HARTFORD YARD GOATS PURPOSE: HOME & RADIO NETWORK | $12,000 |