State of Indiana Health Reimbursement Arrangement HRA Account Plan Trust (EIN 566626298) - 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

2003

Legal Domicile

Principal Officer

Steven R Sherman

Phone

5098385571

Tax Period

2023-01-01 to 2023-12-31

State of Indiana Health Reimbursement Arrangement HRA Account Plan Trust, founded in 2003, is a mid-sized nonprofit in the Mutual Benefit sector that reported $18.7M in total revenue in fiscal year 2023. Revenue decreased 5% compared to the prior year. Net assets of $320.9M represent 206 months of operating reserves.

Mission

To provide qualified health and welfare benefits through a health reimbursement arrangement (HRA).

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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 $6,229,099

Investment Income $12,489,370

Other Revenue $0

TOTAL REVENUE $18,718,469

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $1,656,385

TOTAL EXPENSES $18,294,541

Year-over-Year Comparison

	2023	2022	Change
Revenue	$18,718,469	$19,798,932	-0.1%
Expenses	$18,294,541	$18,922,046	0.0%
Net Income	$423,928	$876,886	-0.5%

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	Trustee	2.00		$0	$0	$102,805

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	$18,718,469	$18,294,541	$321,245,258	$423,928
2022	$19,798,932	$18,922,046	$298,738,342	$876,886
2021	$23,046,860	$18,309,062	$344,630,068	$4,737,798
2020	$19,867,665	$17,992,025	$319,915,899	$1,875,640
2019	$18,299,709	$19,279,695	$299,533,414	$-979,986
2018	$19,648,141	$20,150,922	$269,932,641	$-502,781

State of Indiana Health Reimbursement Arrangement HRA Account Plan Trust