CareSource Indiana Inc

EIN: 320121856 501(c)(3) Health Care

Dayton, OH

Total Revenue
$1,324,786,071
Total Expenses
$1,304,987,103
Total Assets
$437,371,962
Net Assets
$156,181,063
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Financial Trends

Organization Details

Formation Year
2004
Legal Domicile
IN
Principal Officer
Steve Smitherman
Phone
9372243300
Tax Period
2024-01-01 to 2024-12-31

CareSource Indiana Inc, founded in 2004, is a large national nonprofit in the Health Care sector that reported $1.3B in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion.

Mission

CareSource Indiana, Inc.'s mission is to make a lasting difference in members' lives by improving their health and well-being. The organization's vision is to transform lives through innovative health and life services. (continued on Schedule O)CareSource Indiana, Inc. is a health maintenance organization licensed by the state of Indiana and serves members through Marketplace, Medicaid, Healthy Indiana, and Hoosier Healthwise Plans.

Program Service Accomplishments

Program 1
Expenses: $1,147,270,796 Revenue: $1,309,520,427

CareSource Indiana, Inc. ("CSIN") is a nonprofit organization established under the state law of Indiana. On February 2, 2007, CSIN received a determination letter from the Internal Revenue Service...

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CareSource Indiana, Inc. ("CSIN") is a nonprofit organization established under the state law of Indiana. On February 2, 2007, CSIN received a determination letter from the Internal Revenue Service, recognizing CSIN as an organization exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code, effective as of the date of CSIN's formation. CSIN is a member of the CareSource group of nonprofit tax-exempt organizations (the "CareSource Public Charities"). (Continued on Schedule O)The sole member of the CareSource Public Charities is CareSource, an Ohio nonprofit corporation that is tax-exempt under section 501(c)(3) of the Internal Revenue Code of 1986 (the "Code"). The CareSource Public Charities' primary activity for the last three decades has been to provide nonprofit Medicaid, Medicare, and Marketplace health maintenance organization ("HMO") services.As a mission-driven organization, CSIN follows the guidance of the CareSource Public Charities and is focused on transforming health care with innovative programs that address the social determinants of health, health equity, prevention and access to care. CSIN has served Hoosiers since 2016 with CareSource Marketplace plans. In 2017, CSIN was selected to serve Healthy Indiana Plan ("HIP") and Hoosier Healthwise ("HHW") Members. Since then, the health plan has launched a number of innovative programs including the CareSource Re-entry Program to ensure the successful transition of justice-involved individuals back into communities, as well as initiatives to remove barriers to health care, housing, employment, and maternal and infant health and to improve health equity.The State of Indiana requires all Medicaid plans to offer certain benefits, however, we offer so much more. Members enrolled in our CSIN plans have access to the following services:(1) Life Coaches who work with Members to connect them to community resources, provide support with educational & employment goals, and help coordinate rides to non-medical appointments in the community,(2) CareSource24, nurse advice line, (3) Care managers who can assist with housing, medical equipment, utilities and other urgent basic needs,(4) Rewards programs for all Members,(5) A free message three times per week, timed to the due date or baby's birth date, through pregnancy and up until the baby's first birthday,(6) One-on-one medication review and consultation with the pharmacist to ensure medications are appropriate and safe,(7) Telemedicine access to a doctor using a phone or computer, (8) CareSource mobile app for access to Member ID card, "how-to" videos and a quick search for doctors, and (9) Programs for asthma, ADHD, addiction, autism, behavioral health, chronic kidney disease and more.2024 Highlights:(1) CSIN supported the Bowen Health Clinic's Empowerment Art Competition, which awarded scholarship money to students at Fort Wayne's Northrop High School who created artwork which will be displayed at Bowen Clinic locations.(2) CSIN expanded our Bumps and Babies Fair to 8 locations across the state, connecting pregnant women and new families to critical resources to help them and their families live better lives.(3) CSIN worked with The City League and John Boner Centers in Indianapolis to launch a Health, Job, and Resource Fair connecting the community to resources just in time for Back To School.(4) CSIN supported Back To School events all across the state, including at La Casa De Amistad, Westminster Neighborhood Services, John Boner Center, Shalom Healthcare Center, Shepherd Community Center, Covering Kids and Families and more.(5) CSIN worked with partners at Indiana Pacers, Indianapolis Colts, Indiana University, Gary Railcats, South Bend Cubs, Fort Wayne Komets, Fort Wayne Tin Caps, and Indy Eleven to sponsor various programming that supports underserved populations. These included youth camps, reading programs, school field trips, and more.(6) CSIN hosted several vaccination events across the state, helping to prevent the spread of Covid, Flu, MMR, and other communicable diseases.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $1,309,520,427
Investment Income $15,265,644
Other Revenue $0
TOTAL REVENUE $1,324,786,071

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $1,147,270,796
Other Expenses $1,304,987,103
TOTAL EXPENSES $1,304,987,103

Year-over-Year Comparison

2024 2023 Change
Revenue $1,324,786,071 $1,218,667,752 +0.1%
Expenses $1,304,987,103 $1,112,999,592 +0.2%
Net Income $19,798,968 $105,668,160 -0.8%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
3
Independent Members
N/A
Employees
N/A
Volunteers
N/A

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$24,779,085
Total Directors
3
$17,133,339
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Erhardt Preitauer Chair/Director 8.00
Officer Director
$0 $6,124,441 $12,201,162
Lawrence Smart CFO, Treasurer/Director 8.00
Officer Director
$0 $1,813,852 $3,471,086
Steve Smitherman President/Director 59.00
Officer Director
$0 $431,714 $1,461,091
Richard Topping Secretary (To 5/31) 8.00
Officer
$0 $831,276 $3,490,556
Edward Stubbers Secretary (Eff 6/1) 8.00
Officer
$0 $1,137,246 $2,198,075
Stephanie Williams Assistant Treasurer 10.00
Officer
$0 $1,020,408 $1,957,115
Jai Pillai Former Chief Operating Ofr 0.00
$0 $0 $244,761
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $1,324,786,071 $1,304,987,103 $437,371,962 $19,798,968
2023 $1,218,667,752 $1,112,999,592 $463,855,622 $105,668,160
2022 $1,036,113,607 $1,049,992,612 $478,256,817 $-13,879,005
2021 $990,208,142 $963,967,552 $434,368,652 $26,240,590
2020 $751,111,177 $744,908,345 $327,554,719 $6,202,832
2019 $641,719,004 $594,936,324 $241,392,526 $46,782,680
2018 $795,707,884 $786,449,043 $231,216,052 $9,258,841
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