QUARTZ HEALTH PLAN MN CORPORATION

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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

2011

Legal Domicile

Principal Officer

CHRISTINE C SENTY

Phone

6084714771

Tax Period

2023-01-01 to 2023-12-31

QUARTZ HEALTH PLAN MN CORPORATION, founded in 2011, is a mid-sized nonprofit in the Health Care sector that reported $44.3M in total revenue in fiscal year 2023. Revenue grew 14% year-over-year, indicating healthy expansion.

Mission

TO PROMOTE SOCIAL WELFARE BY OPERATION OF A HEALTH MAINTENANCE ORGANIZATION AND OTHER ACTIVITIES INCIDENTAL THERETO, AND ANY OTHER LAWFUL ACTIVITY WITHIN THE PURPOSE FOR WHICH A CORPORATION MAY BE ORGANIZED UNDER THE MINNESOTA NONPROFIT CORPORATION ACT, SECTION 501(C)(4) OF THE INTERNAL REVENUE CODE AND THE MINNESOTA HEALTH MAINTENANCE ACT.

Program Service Accomplishments

Program 1

Expenses: $40,863,348 Revenue: $43,747,329

TO PROMOTE SOCIAL WELFARE BY OPERATION OF HEALTH MAINTENANCE ORGANIZATION PROVIDING COMPREHENSIVE HEALTH CARE INSURANCE AND OTHER HEALTH CARE ACTIVITIES FOR 5,859 MINNESOTA MEMBERS UNDER THE...

TO PROMOTE SOCIAL WELFARE BY OPERATION OF HEALTH MAINTENANCE ORGANIZATION PROVIDING COMPREHENSIVE HEALTH CARE INSURANCE AND OTHER HEALTH CARE ACTIVITIES FOR 5,859 MINNESOTA MEMBERS UNDER THE MINNESOTA NONPROFIT CORPORATION ACT, SECTION 501(C)(4) OF THE INTERNAL REVENUE CODE AND THE MINNESOTA HEALTH MAINTENANCE ACT.

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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 $43,747,329

Investment Income $521,167

Other Revenue $0

TOTAL REVENUE $44,268,496

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,339,577

Fundraising Expenses $0

Program Expenses $40,863,348

Other Expenses $42,350,198

TOTAL EXPENSES $43,689,775

Year-over-Year Comparison

	2023	2022	Change
Revenue	$44,268,496	$38,902,465	+0.1%
Expenses	$43,689,775	$38,876,170	+0.1%
Net Income	$578,721	$26,295	+21.0%

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

N/A

Volunteers

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

$3,671,534

Total Directors

$1,465,813

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARK J SELNA MD	PRESIDENT & CEO (TERM 05/2023)	2.00	Officer Director	$0	$37,104	$847,355
CHRISTINE C SENTY JD	PRESIDENT & CEO	2.00	Officer Director	$0	$46,696	$618,458
CHARLES L JOHNSON	BOD - MEMBER	1.00	Director	$0	$0	$0
CHRISTINA BRENNAN OTT	BOD - MEMBER	1.00	Director	$0	$0	$0
ROBERTA J HAUGAN	BOD - MEMBER	1.00	Director	$0	$0	$0
STACEY L MOUNCE ARNOLD	BOD - MEMBER	1.00	Director	$0	$0	$0
JEFFREY A BUTCHER	SENIOR VP, TREASURER & CFO	2.00	Officer	$0	$35,818	$686,402
DAVID S HANEKOM MD	SENIOR VP & CHIEF MEDICAL OFFICER	2.00	Officer	$0	$48,240	$588,700
JAMES L HIVELEY	VP, TREASURER & CFO (TERM 04/2023)	2.00	Officer	$0	$23,113	$540,467
KRISTIE S BREUNIG JD	GENERAL COUNSEL, VP & SECRETARY	2.00	Officer	$0	$38,955	$311,194
JAMI J BERGER SR VP CHIEF	CLINICAL OFFICER (AS OF 11/2023)	2.00	Officer	$0	$0	$78,958

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	$44,268,496	$43,689,775	$19,664,103	$578,721
2022	$38,902,465	$38,876,170	$18,352,476	$26,295
2021	$31,014,352	$30,314,976	$12,772,052	$699,376
2020	$21,604,448	$21,058,121	$8,565,078	$546,327
2019	$15,570,477	$15,438,934	$7,373,034	$131,543