CONSUMERS CHOICE HEALTH INSURANCE … - Form 990 Financial Data

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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

MICHAEL J FITZGIBBONS

Phone

4809484351

Tax Period

2023-01-01 to 2023-02-28

CONSUMERS CHOICE HEALTH INSURANCE COMPANY IN LIQUIDATION, founded in 2011, is a small nonprofit that reported $346K in total revenue in fiscal year 2022. Revenue fell 56% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $178K, a strong 52% operating margin.

Mission

HAS PROVIDED HEALTHCARE BENEFITS TO ITS MEMBERS. THE ENTITY OFFICIALLY LIQUIDATED FEBRUARY 28, 2023.

Program Service Accomplishments

Program 1

THE COMPANY CEASED PROVIDING HEALTH INSURANCE COVERAGE AFTER DECEMBER 31, 2015 AND WAS PLACED IN RECEIVERSHIP ON JANUARY 8, 2016. COVERED CLAIMS ARE NOW BEING PAID BY THE SOUTH CAROLINA LIFE AND...

THE COMPANY CEASED PROVIDING HEALTH INSURANCE COVERAGE AFTER DECEMBER 31, 2015 AND WAS PLACED IN RECEIVERSHIP ON JANUARY 8, 2016. COVERED CLAIMS ARE NOW BEING PAID BY THE SOUTH CAROLINA LIFE AND ACCIDENT AND HEALTH GUARANTY ASSOCIATION.

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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 (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $345,921

Other Revenue $0

TOTAL REVENUE $345,921

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $167,688

TOTAL EXPENSES $167,688

Year-over-Year Comparison

	2022	2021	Change
Revenue	$345,921	$786,719	-0.6%
Expenses	$167,688	$372,821	-0.6%
Net Income	$178,233	$413,898	-0.6%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Mike FitzGibbons	Special Deputy Receiver	5.0	Director	$0	$0	$0

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
2023	$345,921	$167,688	No data	$178,233
2022	$786,719	$372,821	$54,998,486	$413,898
2021	$25,060	$-1,050,127	$55,472,389	$1,075,187
2020	$23,244	$6,928,539	$59,963,486	$-6,905,295

CONSUMERS CHOICE HEALTH INSURANCE COMPANY IN LIQUIDATION