CareSource Kentucky Co

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

2014

Legal Domicile

Principal Officer

Michael Taylor

Phone

9372243300

Tax Period

2023-01-01 to 2023-12-31

CareSource Kentucky Co, founded in 2014, is a major nonprofit in the Health Care sector that reported $188.3M in total revenue in fiscal year 2023. Revenue decreased 19% compared to the prior year.

Mission

CARESOURCE KENTUCKY CO.'S MISSION IS TO MAKE A LASTING DIFFERENCE IN MEMBERS' LIVES BY IMPROVING THEIR HEALTH AND WELL-BEING. THE ORGANIZATION'S VISION IS TO TRANSFORM LIVES THROUGH INNOVATIVE HEALTH AND LIFE SERVICES. (CONTINUED ON SCHEDULE O)

Program Service Accomplishments

Program 1

Expenses: $161,624,577 Revenue: $185,899,673

CareSource Kentucky Co. ("CSKY") is a nonprofit organization established under the Commonwealth of Kentucky. CSKY was granted a Certificate of Authority by the Kentucky Department of Insurance...

CareSource Kentucky Co. ("CSKY") is a nonprofit organization established under the Commonwealth of Kentucky. CSKY was granted a Certificate of Authority by the Kentucky Department of Insurance ("KDOI"), allowing it to operate as a Health Maintenance Organization ("HMO"). On July 7, 2016, CSKY received a determination letter from the Internal Revenue Service, recognizing CSKY as an organization exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code, effective as of the date of CSKY's formation. CSKY is a member of the CareSource group of nonprofit tax-exempt organizations (the "CareSource Public Charities"). (Continued on Schedule O)

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $185,899,673

Investment Income $2,397,429

Other Revenue $0

TOTAL REVENUE $188,297,102

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $161,624,577

Other Expenses $184,767,394

TOTAL EXPENSES $184,767,394

Year-over-Year Comparison

	2023	2022	Change
Revenue	$188,297,102	$233,440,176	-0.2%
Expenses	$184,767,394	$237,898,173	-0.2%
Net Income	$3,529,708	$-4,457,997	-1.8%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

$23,097,018

Total Directors

$24,014,124

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Erhardt Preitauer	Pres/CEO to 4/23 then Chr/Dir	8.0	Officer Director	$0	$4,047,739	$12,030,121
Richard Topping	Secretary/Director (Eff 5/23)	8.0	Officer Director	$0	$942,437	$3,371,871
Lawrence Smart	CFO, Treasurer/Dir (Eff 5/23)	8.0	Officer Director	$0	$712,492	$2,994,866
Scott Markovich	Director (To 4/23)	8.0	Director	$0	$861,652	$2,908,164
Jai Pillai	Chief Operating Ofr (To 4/23)	8.0	Officer	$0	$15,770	$1,991,058
Stephanie Williams	Dir (To 4/23) then Asst Treas	10.0	Officer Director	$0	$548,452	$1,422,827
Michael Taylor	Dir (To 4/23), Pres (Eff 5/23)	30.0	Officer Director	$0	$392,563	$1,286,275
Daniel McCabe	Former Chief Admin Officer	0.0		$0	$0	$140,542
William Coffin Jr	Former VP Mkt Finance/Director	0.0		$0	$0	$24,304

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	$188,297,102	$184,767,394	$63,052,991	$3,529,708
2022	$233,440,176	$237,898,173	$65,144,241	$-4,457,997
2021	$313,174,321	$295,814,892	$82,427,236	$17,359,429
2020	$254,549,061	$244,062,173	$77,405,583	$10,486,888
2019	$237,068,323	$211,848,520	$70,198,631	$25,219,803
2018	$278,110,590	$277,729,119	$78,641,159	$381,471