COLORADO HEALTH BENEFIT EXCHANGE (EIN 453733823) - Form 990 Financial Analysis & Trantor Score

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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

KEVIN PATTERSON

Phone

7204962530

Tax Period

2024-07-01 to 2025-06-30

COLORADO HEALTH BENEFIT EXCHANGE, founded in 2011, is a mid-sized nonprofit in the Health Care sector that reported $72.3M in total revenue in fiscal year 2024. Revenue grew 20% year-over-year, indicating healthy expansion. The organization ran a surplus of $13.0M, a strong 18% operating margin.

Mission

TO INCREASE ACCESS, AFFORDABILITY, AND CHOICE FOR INDIVIDUALS PURCHASING INSURANCE.

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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 (2024)

Revenue Breakdown

Contributions & Grants $5,281,579

Program Service Revenue $65,885,333

Investment Income $1,103,669

Other Revenue $3,216

TOTAL REVENUE $72,273,797

Expense Breakdown

Grants Paid $0

Salaries & Benefits $25,968,057

Fundraising Expenses $10,306

Program Expenses $49,658,517

Other Expenses $33,316,254

TOTAL EXPENSES $59,284,311

Year-over-Year Comparison

	2024	2023	Change
Revenue	$72,273,797	$60,286,142	+0.2%
Expenses	$59,284,311	$53,991,039	+0.1%
Net Income	$12,989,486	$6,295,103	+1.1%

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

242

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

$1,145,671

Total Directors

Key Employees

$446,773

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DICK THOMPSON	BOARD CHAIR	5.00	Officer Director	$0	$0	$0
MARA BAER	BOARD CHAIR-ELECT	3.00	Officer Director	$0	$0	$0
ANNIE LEE	VICE-CHAIR	3.00	Officer Director	$0	$0	$0
LOREZ MEINHOLD	TREASURER	3.00	Officer Director	$0	$0	$0
CHRISTY BLAKELY	DIRECTOR	3.00	Director	$0	$0	$0
PATRICK GORDON	DIRECTOR	3.00	Director	$0	$0	$0
ADAM FOX	DIRECTOR	3.00	Director	$0	$0	$0
ROBERT RUIZ-MOSS	DIRECTOR	3.00	Director	$0	$0	$0
JENNIFER BROOKS	DIRECTOR	3.00	Director	$0	$0	$0
KEVIN PATTERSON	CHIEF EXECUTIVE OFFICER	45.00	Officer	$398,905	$40,400	$439,305
BRIAN BRAUN	CHIEF FINANCIAL OFFICER	45.00	Officer	$292,599	$62,162	$354,761
KELLY GUTHNER	CHIEF INNOVATION OFFICER	45.00	Officer	$295,531	$56,074	$351,605
KATHERINE DAVIES	CHIEF PRODUCT OFFICER	45.00	Key Emp	$200,488	$39,262	$239,750
NINA SCHWARTZ	CHIEF POLICY AND EXTERNAL AFFAIRS OFFICER	42.00	Key Emp	$176,907	$30,116	$207,023
RENATA ROBINSON	CHIEF HUMAN RESOURCES AND TRAINING OFFICER	41.00	Highest	$292,056	$50,750	$342,806
ALAN SCHMITZ	GENERAL COUNSEL/COMPLIANCE OFFICER	41.00	Highest	$255,772	$52,926	$308,698
JUSTIN BRANDON	SENIOR DIRECTOR OF CUSTOMER AND ISSUER OPERATIONS	45.00	Highest	$201,500	$45,693	$247,193
WILLIAM SCHWARTZ	DIRECTOR OF SOFTWARE DEVELOPMENT	41.28	Highest	$188,523	$44,623	$233,146
MOLLY MCCLURG	DEPUTY GENERAL COUNSEL	40.00	Highest	$184,450	$29,119	$213,569

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
2025	$72,273,797	$59,284,311	$72,790,021	$12,989,486
2024	$60,286,142	$53,991,039	$55,485,461	$6,295,103
2023	$52,392,912	$50,064,090	$48,762,811	$2,328,822
2022	$46,009,200	$44,649,952	$43,264,341	$1,359,248
2021	$42,741,707	$42,502,061	$41,211,882	$239,646
2020	$45,376,594	$46,043,852	$42,000,411	$-667,258
2019	$46,683,878	$45,093,055	$40,873,922	$1,590,823
2018	$43,214,914	$55,189,943	$39,588,661	$-11,975,029

COLORADO HEALTH BENEFIT EXCHANGE