MONTANA HEALTH COOPERATIVE

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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

2010

Legal Domicile

Principal Officer

DAVID SLONAKER

Phone

4064479510

Tax Period

2023-01-01 to 2023-12-31

MONTANA HEALTH COOPERATIVE, founded in 2010, is a major nonprofit in the Mutual Benefit sector that reported $482.6M in total revenue in fiscal year 2023. Revenue surged 69% from the prior year, signaling strong growth momentum.

Mission

THE ORGANIZATION OFFERS TRUE NON-PROFIT MEMBER GOVERNED HEALTH INSURANCE THAT PROMOTES MEMBER ENGAGEMENT AND PROVIDES ACCESS TO HIGH QUALITY HEALTH CARE.

Program Service Accomplishments

Program 1

THE ORGANIZATION'S LARGEST PROGRAM SERVICE ACCOMPLISHMENT IS THE SALE OF INSURANCE WHILE SUPPORTING THEIR MEMBERS AND ADHERING TO FEDERAL AND STATE GUIDELINES AS REQUIRED UNDER THE ORGANIZATION...

THE ORGANIZATION'S LARGEST PROGRAM SERVICE ACCOMPLISHMENT IS THE SALE OF INSURANCE WHILE SUPPORTING THEIR MEMBERS AND ADHERING TO FEDERAL AND STATE GUIDELINES AS REQUIRED UNDER THE ORGANIZATION STRUCTURE. THIS INCLUDES MEDICARE SUPPLEMENT POLICY SALES.

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $477,078,124

Investment Income $5,417,027

Other Revenue $64,873

TOTAL REVENUE $482,560,024

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,289,614

Fundraising Expenses $0

Other Expenses $476,844,314

TOTAL EXPENSES $482,133,928

Year-over-Year Comparison

	2023	2022	Change
Revenue	$482,560,024	$285,775,835	+0.7%
Expenses	$482,133,928	$286,126,139	+0.7%
Net Income	$426,096	$-350,304	-2.2%

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

Governance

Voting Members

Independent Members

Employees

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

$1,162,470

Total Directors

$150,000

Key Employees

$900,816

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
REBECCA LAFOND	CHAIR	1.00	Officer Director	$21,800	$0	$21,800
MICHAEL MCMURRAY	TREASURER	1.00	Officer Director	$10,550	$0	$10,550
LISA BALLARD	SECRETARY	1.00	Officer Director	$9,350	$0	$9,350
TOM BASSLER	DIRECTOR	1.00	Director	$9,800	$0	$9,800
LIESEL BRINK	DIRECTOR	1.00	Director	$10,050	$0	$10,050
STASIA CREEK	DIRECTOR	1.00	Director	$9,800	$0	$9,800
CHRISTINA GOE	DIRECTOR	1.00	Director	$9,300	$0	$9,300
PATTY HAMBLOCK	DIRECTOR	1.00	Director	$9,800	$0	$9,800
NOLAN HILL	DIRECTOR	1.00	Director	$10,550	$0	$10,550
LACY KOWALSKI	DIRECTOR	1.00	Director	$9,800	$0	$9,800
MONICA LINDEEN	DIRECTOR	1.00	Director	$8,600	$0	$8,600
PAUL MCDONALD	DIRECTOR	1.00	Director	$9,800	$0	$9,800
T CHRIS MUIRHEAD	DIRECTOR	1.00	Director	$8,300	$0	$8,300
MARK REINSEL	DIRECTOR	1.00	Director	$9,800	$0	$9,800
JOSH SAUNDERS	DIRECTOR (THRU 05/2023)	1.00	Director	$2,700	$0	$2,700
RICHARD MILTENBERGER	CEO	40.00	Officer	$453,691	$55,313	$509,004
DAVID SLONAKER	CFO	40.00	Officer	$267,928	$45,271	$313,199
BLAIR FJESETH	COO	40.00	Officer	$273,373	$25,194	$298,567
JEFFREY SWINGLEY	VP SALES	40.00	Key Emp	$234,977	$12,308	$247,285
GREG SONNENBERG	VP-ID OPS	40.00	Key Emp	$200,767	$26,145	$226,912
DARREL STONE	VP OF IT & BI	40.00	Key Emp	$199,781	$32,684	$232,465
MARK WALTERS	VP BUSINESS DEVELOPMENT	40.00	Key Emp	$153,829	$40,325	$194,154
MELISSA MCVAUGH	DIRECTOR CLINICAL PROGRAM	40.00	Highest	$192,825	$37,015	$229,840
PEGGY WORLEY	CONTROLLER	40.00	Highest	$170,488	$33,196	$203,684
MORRIS MCGAUGH	DIRECTOR PROVIDER NETWORK	40.00	Highest	$134,209	$20,317	$154,526
LEAH MARTIN	ASSISTANT VICE PRESIDENT	40.00	Highest	$117,944	$45,998	$163,942
CHRISTINE MENDENHALL	DIRECTOR MEMBER SERVICES	40.00	Highest	$127,582	$30,345	$157,927
RONDA MCMILLAN	FORMER OFFICER (CEAO)	40.00		$179,464	$0	$179,464

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	No data	No data	No data	No data
2023	$482,560,024	$482,133,928	$182,882,247	$426,096
2022	$285,775,835	$286,126,139	$154,017,085	$-350,304
2021	$256,051,984	$258,763,322	$161,534,963	$-2,711,338
2020	$234,523,363	$188,910,746	$167,525,981	$45,612,617
2019	$254,866,483	$239,694,559	$145,412,106	$15,171,924
2018	$316,396,976	$303,035,198	$125,482,191	$13,361,778