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 Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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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

To make a lasting difference in our members' lives by improving their health and well-being. CareSource Indiana, Inc. is a nonprofit HMO licensed by the State of Indiana.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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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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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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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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