Hartford HealthCare Endowment LLC

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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

2016

Legal Domicile

Phone

8606963555

Tax Period

2023-10-01 to 2024-09-30

Hartford HealthCare Endowment LLC, founded in 2016, is a mid-sized nonprofit that reported $92.6M in total revenue in fiscal year 2023. Revenue grew 8% year-over-year, indicating healthy expansion. The organization ran a surplus of $81.8M, a strong 88% operating margin.

Mission

NONE

Program Service Accomplishments

Program 1

Expenses: $10,757,604 Revenue: $0

THE FOUNDATION'S SOLE ACTIVITY CONSISTS OF HOLDING POOLED ENDOWMENT FUNDS OF CERTAIN TAX EXEMPT AFFILIATES OF HARTFORD HEALTHCARE CORPORATION (HHC) AND INVESTING SUCH POOLED FUNDS. MORE SPECIFICALLY, THE FOUNDATION'S ACTIVITIES SUPPORTING THESE TAX EXEMPT AFFILIATES CONSISTS OF (A) INVESTING AND MANAGING THE TAX EXEMPT AFFILIATES' ENDOWMENT FUNDS; (B) DISTRIBUTING INCOME EARNED FROM THE ENDOWMENT FUNDS TO THE TAX EXEMPT AFFILIATES; AND (C) POTENTIALLY HOLDING AND MANAGING OTHER ASSETS OWNED BY THE TAX EXEMPT AFFILIATES. THE FOUNDATION DOES NOT RAISE, MANAGE OR INVEST ON BEHALF OF ANY ENTITY OTHER THAN THESE HHC TAX EXEMPT AFFILIATES.

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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 $0

Investment Income $92,589,948

Other Revenue $0

TOTAL REVENUE $92,589,948

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $10,757,604

Other Expenses $10,757,604

TOTAL EXPENSES $10,757,604

Year-over-Year Comparison

	2023	2022	Change
Revenue	$92,589,948	$85,609,852	+0.1%
Expenses	$10,757,604	$14,891,245	-0.3%
Net Income	$81,832,344	$70,718,607	+0.2%

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

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

$9,975,370

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BIMAL PATEL	DIRECTOR	1.0	Director	$0	$70,326	$2,447,701
CHIBUEZE AGBA	DIRECTOR	1.0	Director	$0	$235,578	$1,934,908
DONNA HANDLEY	DIRECTOR	1.0	Director	$0	$75,283	$978,621
ERIC SMULLEN	DIRECTOR	1.0	Director	$0	$72,288	$727,676
GARY HAVICAN	DIRECTOR	1.0	Director	$0	$136,812	$900,380
JAMES O'DEA	DIRECTOR	1.0	Director	$0	$64,726	$641,134
JEFFREY FINKELSTEIN	DIRECTOR	1.0	Director	$0	$71,147	$679,632
WILLIAM JENNINGS	DIRECTOR	1.0	Director	$0	$191,193	$1,665,318
DAVID HOLMGREN	FORMER CIO	0.0		$0	$0	$590,775

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	$92,589,948	$10,757,604	$2,207,694,000	$81,832,344
2023	$85,609,852	$14,891,245	$2,005,367,000	$70,718,607
2022	$82,489,042	$16,621,700	$1,938,113,000	$65,867,342
2021	$117,058,642	$2,596,095	$2,059,506,000	$114,462,547
2020	$65,437,349	$2,091,974	$1,621,873,000	$63,345,375
2019	$35,814,736	$2,872,511	$1,468,738,000	$32,942,225
2018	$102,761,078	$4,477,996	$1,428,326,000	$98,283,082