Healthfirst Health Plan of New Jersey Inc (EIN 510609967) - 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

2006

Legal Domicile

Principal Officer

PATRICIA J WANG

Phone

2128016000

Tax Period

2022-01-01 to 2022-12-31

Healthfirst Health Plan of New Jersey Inc, founded in 2006, is a micro nonprofit that reported $21K in total revenue in fiscal year 2022. Revenue fell 50% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $213K, a strong 1027% operating margin.

Mission

TO PROMOTE THE HEALTH OF THE PEOPLE OF THE STATE OF NEW JERSEY BY ARRANGING FOR THE PROVISION OF HEALTH CARE SERVICES TO MEDICARE AND MEDICAID BENEFICIARIES.

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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 $20,755

Other Revenue $0

TOTAL REVENUE $20,755

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $-206,627

Other Expenses $-192,335

TOTAL EXPENSES $-192,335

Year-over-Year Comparison

	2022	2021	Change
Revenue	$20,755	$41,504	-0.5%
Expenses	$-192,335	$-172,404	+0.1%
Net Income	$213,090	$213,908	0.0%

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

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

$3,959,394

Total Directors

$1,268,275

Key Employees

$6,817,528

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PATRICIA J WANG	PRESIDENT AND CEO	1.0	Key Emp	$0	$509,860	$4,584,870
STEVEN H BLACK	CHIEF OPERATING OFFICER	1.0	Key Emp	$0	$20,412	$2,232,658
JOHN J BERMEL	CHIEF FINANCIAL OFFICER	1.0	Officer	$0	$35,336	$1,923,485
GERALD T SWEENEY	SVP CHIEF INFORMATION OFFICER	1.0	Highest	$0	$176,764	$1,778,444
SEAN KANE	CHIEF HR OFFICER	1.0	Highest	$0	$157,892	$1,480,958
JAY A SCHECHTMAN	CHIEF MEDICAL OFFICER	1.0	Highest	$0	$149,783	$1,451,000
LINDA TIANO	CHIEF LEGAL OFFICER/SECRETARY	1.0	Officer	$0	$138,813	$1,438,485
BARBARA MONTRESOR	SVP Comm & Marketing	1.0	Highest	$0	$119,759	$1,125,913
SHERYL MARKOWITZ	Executive Medical Director	1.0	Highest	$0	$93,889	$1,125,018
DEBORAH E HAMMOND	VP, MEDICAL DIRECTOR	1.0	Director	$0	$22,275	$670,851
CRAIG BARATTIN	CONTROLLER	1.0	Officer Director	$0	$44,324	$597,424
ANTHONY T ORLANDO	DIRECTOR	1.0	Director	$0	$0	$0
MICHAEL MARON	DIRECTOR	1.0	Director	$0	$0	$0
RICHARD SMITH	DIRECTOR	1.0	Director	$0	$0	$0
EDWARD CONDIT	DIRECTOR	1.0	Director	$0	$0	$0
TOM DALY	DIRECTOR	1.0	Director	$0	$0	$0
CHAD FORBES	DIRECTOR	1.0	Director	$0	$0	$0
ALAN BEATTY	DIRECTOR	1.0	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
2022	$20,755	$-192,335	No data	$213,090
2021	$41,504	$-172,404	$23,685,176	$213,908
2020	$193,608	$-8,113,309	$23,358,375	$8,306,917
2019	$573,920	$116,213	$30,956,124	$457,707
2018	$285,446	$1,673,708	$30,437,159	$-1,388,262

Healthfirst Health Plan of New Jersey Inc