CAREPARTNERS OF CONNECTICUT INC

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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

2017

Legal Domicile

Principal Officer

MARLA PANTANO

Phone

6179729400

Tax Period

2023-01-01 to 2023-12-31

CAREPARTNERS OF CONNECTICUT INC, founded in 2017, is a mid-sized nonprofit in the Health Care sector that reported $56.0M in total revenue in fiscal year 2023. Revenue surged 34% from the prior year, signaling strong growth momentum. Expenses of $71.5M exceeded revenue, resulting in a 28% operating deficit.

Mission

AS DESCRIBED IN FURTHER DETAIL IN PART I, LINE I, CPCT IS A CONNECTICUT HEALTH CARE CENTER* (HMO) ESTABLISHED FOR THE PURPOSE OF ARRANGING FOR THE DELIVERY OF COMPREHENSIVE HEALTH CARE SERVICES, ON A PREPAID BASIS, TO SUBSCRIBING INDIVIDUALS AND GROUPS. CPCT'S AIM IS TO IMPROVE THE HEALTH AND WELLNESS OF THE COMMUNITIES IT SERVES BY ARRANGING FOR THE PROVISION OF COMPREHENSIVE HEALTH CARE SERVICES, INCLUDING PROVIDING COMMUNITY OUTREACH AND EDUCATION AND COORDINATING CARE TO ENSURE THAT THOSE WITH THE MOST CHALLENGING HEALTH NEEDS ARE BEST ABLE TO ACCESS THE CARE THEY NEED. CPCT AIMS TO IMPROVE THE LIVES OF OLDER CONNECTICUT RESIDENTS PRIMARILY THROUGH MANAGED CARE MEDICARE ADVANTAGE PROGRAMS WITH INTEGRATED, COORDINATED MEDICAL AND BEHAVIORAL HEALTH CARE FOR RESIDENTS OF THE STATE OF CONNECTICUT THAT ARE ELIGIBLE FOR MEDICARE (TYPICALLY THOSE THAT ARE AGE 65 OR OLDER). *IN CONNECTICUT, "HEALTH CARE CENTER" IS THE TERM USED TO DESCRIBE HEALTH MAINTENANCE ORGANIZATIONS.

Program Service Accomplishments

Program 1

Expenses: $54,292,681 Revenue: $55,187,551

CPCT'S MEDICARE ADVANTAGE PLAN OFFERINGS ARE THE ORGANIZATION'S ONLY PROGRAM SERVICES PROVIDED IN 2023. CPCT FIRST ENROLLED SUBSCRIBERS FOR PLANS EFFECTIVE JANUARY 1, 2019. CPCT AND ITS AFFILIATES...

CPCT'S MEDICARE ADVANTAGE PLAN OFFERINGS ARE THE ORGANIZATION'S ONLY PROGRAM SERVICES PROVIDED IN 2023. CPCT FIRST ENROLLED SUBSCRIBERS FOR PLANS EFFECTIVE JANUARY 1, 2019. CPCT AND ITS AFFILIATES HAVE CONTRACTED WITH THOUSANDS OF PRIMARY CARE PHYSICIANS, SPECIALISTS, HOSPITALS AND COMMUNITY ORGANIZATIONS THROUGHOUT CONNECTICUT AND CURRENTLY OFFERS HEALTH COVERAGE IN HARTFORD, LITCHFIELD, NEW HAVEN, NEW LONDON, TOLLAND AND WINDHAM COUNTRIES. CPCT HAS DEVELOPED PROGRAMS TO INCREASE ACCESS TO CARE AND IMPROVE THE COORDINATION OF CARE FOR THOSE WHO NEED IT MOST. IN THE CASE OF MEDICARE ADVANTAGE MEMBERS, THOSE WITH CHRONIC CONDITIONS SUCH AS DIABETES, CHRONIC OBSTRUCTIVE PULMONARY DISORDER AND HEART FAILURE. CPCT PROVIDES HEALTH EDUCATION AND PROMOTION, COACHING, COMPLEX HEALTH ASSISTANCE, CONNECTION TO SOCIAL SERVICES AND PROGRAMS, COORDINATION OF ADDITIONAL SERVICES SUCH AS HOME CARE, AND CAREGIVER ASSISTANCE AND SUPPORT, FORMULATED TO TAKE ACCOUNT OF THE HEALTH RISKS AND CHALLENGES THAT PARTICULARLY AFFECTS SENIORS.

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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 $55,187,551

Investment Income $819,786

Other Revenue $0

TOTAL REVENUE $56,007,337

Expense Breakdown

Grants Paid $2,500

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $54,292,681

Other Expenses $17,257,023

TOTAL EXPENSES $71,549,704

Year-over-Year Comparison

	2023	2022	Change
Revenue	$56,007,337	$41,668,491	+0.3%
Expenses	$71,549,704	$55,528,279	+0.3%
Net Income	$-15,542,367	$-13,859,788	+0.1%

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

$2,516,841

Total Directors

$3,455,529

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ADAM SCOTT	DIRECTOR (END 12/18)	2.5	Director	$0	$157,794	$1,286,576
MARK PORTER	TREASURER (START 10/12)	2.5	Officer	$0	$166,825	$1,222,453
PATRICIA BLAKE	DIRECTOR (END 12/18)	10.0	Director	$0	$160,733	$1,211,996
R SCOTT WALKER	DIRECTOR (START 12/19)	2.5	Director	$0	$117,945	$845,896
ROLAND PRICE	TREASURER (END 10/11)	2.5	Officer	$0	$79,256	$675,379
MARLA PANTANO	PRESIDENT, CAREPARTNERS OF CT	50.0	Officer	$0	$51,691	$619,009
PAUL BERNSTEIN	DIRECTOR, PROGRAM MANAGEMENT	50.0	Highest	$0	$47,240	$308,226
JESSE MEJIA	DIRECTOR, SALES	50.0	Highest	$0	$33,168	$251,693
NICOLE CORNELL	DIRECTOR, INT CARE MGMT STGY	50.0	Highest	$0	$49,006	$243,848
LYNNE OLSON	SR. MANAGER, MARKETING	50.0	Highest	$0	$28,995	$193,661
MAUREEN NEILLY	SENIOR CARE MANAGER - NURSING	50.0	Highest	$0	$18,582	$151,910
URCEL FIELDS	DIRECTOR (START 12/19)	7.5	Director	$0	$10,000	$82,561
JOHN DILLAWAY	DIRECTOR	1.0	Director	$28,500	$0	$28,500
DEBRA HAYES	DIRECTOR & SECRETARY	1.0	Officer Director	$0	$0	$0
CHIBUEZE OKEY AGBA	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
2024	No data	No data	No data	No data
2023	$56,007,337	$71,549,704	$23,505,643	$-15,542,367
2022	$41,668,491	$55,528,279	$23,631,824	$-13,859,788
2021	$24,446,230	$37,443,908	$21,597,096	$-12,997,678
2020	$15,679,005	$27,199,813	$15,730,217	$-11,520,808
2019	$2,985,821	$10,082,105	$11,608,174	$-7,096,284