Carequality 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

2018

Legal Domicile

Principal Officer

Alan Swenson

Phone

5713273637

Tax Period

2023-01-01 to 2023-12-31

Carequality Inc, founded in 2018, is a community nonprofit in the Health Care sector that reported $3.5M in total revenue in fiscal year 2023. Revenue surged 34% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.4M, a strong 38% operating margin.

Mission

Carequality lessens the burden on the federal government by creating a framework to support the safe and secure exchange of electronic health information among different electronic health systems. Carequality supports a robust legal and policy framework consisting of a common trust agreement, implementation guides and technical specifications developed by a multi-stakeholder process stewarded by Carequality. The Carequality framework is consensus based and allows different eHealth IT vendors, platforms and others to achieve interoperability.

Program Service Accomplishments

Program 1

Expenses: $1,595,514 Revenue: $3,370,000

Annual fees and dues and conferences - Carequality provides programmatic and operational support for the Carequality Interoperability Framework, which enables health information sharing among and...

Annual fees and dues and conferences - Carequality provides programmatic and operational support for the Carequality Interoperability Framework, which enables health information sharing among and between all types of health data networks.

Program 2

Revenue: $135,104

US government grants - During 2023, the Organization provided sub-contractor services, in connection with The Sequoia Project's grant from the US Dept of Health and Human Services (HHS) to serve as the Recognized Coordinating Entity (RCE) and help develop the Trusted Exchange Framework and Common Agreement to support nationwide exchange of health information.

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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 $3,505,104

Investment Income $21,942

Other Revenue $0

TOTAL REVENUE $3,527,046

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,595,514

Other Expenses $2,175,455

TOTAL EXPENSES $2,175,455

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,527,046	$2,640,602	+0.3%
Expenses	$2,175,455	$1,702,356	+0.3%
Net Income	$1,351,591	$938,246	+0.4%

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

$1,514,999

Total Directors

$556,959

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Mariann Yeager	Board Member/CEO Sequoia	10.00	Officer Director	$0	$53,412	$556,959
Seth Selkow	Board Chair	1.00	Officer Director	$0	$0	$0
Hans Buitendijk	Board Treasurer	1.00	Officer Director	$0	$0	$0
James Murray	Board Secretary	1.00	Officer Director	$0	$0	$0
Paul Wilder	Board Member	1.00	Director	$0	$0	$0
Russ Cucina MD	Board Member	1.00	Director	$0	$0	$0
Sagnik Bhattacharya	Board member	1.00	Director	$0	$0	$0
Alan Swenson	Executive Director	40.00	Officer	$0	$41,805	$328,057
Debra Condrey	COO, Chief Information Officer	10.00	Officer	$0	$27,121	$334,500
Alan Smith	CFO	12.50	Officer	$0	$12,512	$295,483
Dawn Van Dyke	VP Marketing, Sequoia	15.00	Highest	$0	$27,335	$225,069

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	$3,527,046	$2,175,455	$5,011,318	$1,351,591
2022	$2,640,602	$1,702,356	$3,526,780	$938,246
2021	$2,001,296	$1,625,928	$2,388,101	$375,368
2020	$1,619,147	$1,214,768	$1,985,420	$404,379