Velatura Hie Corporation
- Assets
- $2.6m
- Revenue
- $4.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Lansing, MI
- Founding
- Data as of
- 09/2023
- EIN
- 86-1398387
Organization Overview
Velatura Hie Corporation is located in Lansing, MI. According to its NTEE Classification (E02) the organization is classified as: Management & Technical Assistance, 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. Velatura Hie Corporation 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 09/2023, Velatura Hie Corporation generated $4.9m in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 44.6% each year . All expenses for the organization totaled $4.7m during the year ending 09/2023. While expenses have increased by 27.3% per year over the past 2 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
NOT-FOR-PROFIT ORGANIZATION OFFERING AFFILIATION, COLLABORATION, AND INTEGRATION OPPORTUNITIES TO HEALTH INFORMATION EXCHANGES (HIES) ACROSS THE COUNTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OFFERING AFFILIATION, COLLABORATION, AND INTEGRATION OPPORTUNITIES TO HEALTH INFORMATION EXCHANGES (HIES) ACROSS THE COUNTRY. VELATURA HIE IS A CONSOLIDATION OF HIES, COMMUNITY-BASED ORGANIZATIONS, AND HEALTH INFORMATION NETWORKS THAT HAVE FORMALLY AFFILIATED TO ACHIEVE NATIONAL ECONOMIES OF SCALE WHILE MAINTAINING LOCALIZED STAKEHOLDER ALIGNMENT AND FOCUS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth Van Der Wende Director | $0 | ||
Timothy Pletcher CEO | OfficerTrustee | 0.5 | $0 |
Angela Bass Evp & Cso | OfficerTrustee | 0.5 | $0 |
Stephanie Schultz CFO | Officer | 0.5 | $0 |
Dr Andrew Rosenberg Director | Trustee | 2 | $0 |
Dr Kevin Bohnsack Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Intersystems Corporation Health It | 9/29/23 | $650,660 |
West Front Strategies Gov't Relations | 9/29/23 | $112,500 |
Xchangeworx Inc Health It | 9/29/23 | $117,780 |
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 | $4,856,562 |
| Investment income | $0 |
| 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 | $4,856,562 |
| 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 | $8,902 |
| 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 | $1,567,267 |
| Advertising and promotion | $0 |
| Office expenses | $551 |
| Information technology | $1,613,276 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $13,863 |
| 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 | $362,526 |
| Insurance | $22,111 |
| All other expenses | $0 |
| Total functional expenses | $4,666,140 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $927,797 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,488,657 |
| 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 | $137,712 |
| Net Land, buildings, and equipment | $30,192 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,584,358 |
| Accounts payable and accrued expenses | $469,005 |
| Grants payable | $0 |
| Deferred revenue | $904,169 |
| 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 | $1,373,174 |
| Net assets without donor restrictions | $1,211,184 |
| 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 | $2,584,358 |