SPRINGFIELD, MA
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)HNE OF CONNECTICUT INC, founded in 2014, is a small nonprofit in the Health Care sector that reported $179K in total revenue in fiscal year 2023. Revenue surged 605% from the prior year, signaling strong growth momentum. The organization ran a surplus of $178K, a strong 100% operating margin.
THE MISSION OF HNE OF CONNECTICUT, INC., LIKE THAT OF ITS SOLE MEMBER HEALTH NEW ENGLAND, INC, ("HNE"), IS TO IMPROVE THE OVERALL QUALITY OF LIFE AND HEALTH STATUS OF THE COMMUNITIES WE SERVE AND TO CONTRIBUTE TO THE ECONOMIC SUCCESS OF OUR REGION.
HNE OF CONNECTICUT WAS LICENSED AS A HEALTH CARE CENTER (HMO) UNDER CHAPTER 698A OF THE CONNECTICUT GENERAL STATUTES IN 2014. SINCE JANUARY 1, 2015, THE ORGANIZATION'S MAIN ACTIVITY WAS TO OFFER...
HNE OF CONNECTICUT WAS LICENSED AS A HEALTH CARE CENTER (HMO) UNDER CHAPTER 698A OF THE CONNECTICUT GENERAL STATUTES IN 2014. SINCE JANUARY 1, 2015, THE ORGANIZATION'S MAIN ACTIVITY WAS TO OFFER, THROUGH THE MEDICARE ADVANTAGE PROGRAM, LOW COST, HIGH QUALITY HEALTH CARE COVERAGE TO PERSONS ELIGIBLE FOR MEDICARE. EFFECTIVE JANUARY 1, 2018 THE ORGANIZATION CEASED OFFERING COVERAGE THROUGH ITS MEDICARE ADVANTAGE PROGRAM, BUT CONTINUES TO MAINTAIN ITS LICENSE TO OPERATE.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2023 | 2022 | Change | |
|---|---|---|---|
| Revenue | $178,898 | $25,366 | +6.1% |
| Expenses | $490 | $-1,337 | -1.4% |
| Net Income | $178,408 | $26,703 | +5.7% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| MARK A KEROACK MD | CHAIR/DIRECTOR, PRES. & CEO BH | 1.00 |
Director
|
$0 | $42,615 | $2,761,223 |
| RICHARD SWIFT | PRESIDENT & CEO | 1.00 |
Officer
Director
|
$0 | $371,042 | $1,574,161 |
| RAYMOND MCCARTHY | TREASURER & DIRECTOR, SVP CFO BH | 1.00 |
Director
|
$0 | $24,432 | $1,205,675 |
| DAVID LEON FRIED DDS | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| JAMES MICHAEL KESSLER ESQ | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| MARYLYNN EILEEN IRELAND PHD | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| LISA M COHEN | CHIEF FINANCIAL OFFICER | 1.00 |
Officer
|
$0 | $202,947 | $781,518 |
| JUDITH DANEK | DIR OFFICE OF PRES & GOVT RELATIONS | 1.00 |
Officer
|
$0 | $47,154 | $216,882 |
| KEITH LEDOUX | VP COMM LOB & SALES (TERM 12/31/22) | 1.00 |
|
$0 | $21,524 | $214,871 |
| MICHAEL FASO | FORMER INTERIM CFO | 1.00 |
|
$0 | $0 | $248,050 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | No data | No data | No data | No data |
| 2023 | $178,898 | $490 | $4,486,888 | $178,408 |
| 2022 | $25,366 | $-1,337 | $4,308,480 | $26,703 |
| 2021 | $9,356 | $44,163 | $4,289,644 | $-34,807 |
| 2020 | $9,374 | $1,561 | $4,316,969 | $7,813 |
| 2019 | $3,497 | $-21,904 | $4,308,771 | $25,401 |
| 2018 | $16,250 | $-328,456 | $4,309,235 | $344,706 |
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