INDEPENDENT CARE HEALTH BENEFIT TR… - Form 990 Financial Data

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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

2021

Legal Domicile

Principal Officer

COLIN FELMET

Phone

8554463227

Tax Period

2023-01-01 to 2023-12-31

INDEPENDENT CARE HEALTH BENEFIT TRUST, founded in 2021, is a community nonprofit in the Mutual Benefit sector that reported $8.5M in total revenue in fiscal year 2023. Expenses of $9.7M exceeded revenue, resulting in a 14% operating deficit.

Mission

THE ORGANIZATION IS A MULTIPLE EMPLOYER WELFARE ARRANGEMENT (MEWA) WHICH PROVIDES MEDICAL AND PRESCRIPTION DRUG BENEFITS FOR ITS MEMBERS AND THEIR DEPENDENTS.

Program Service Accomplishments

Program 1

ALL FUNDS ARE USED FOR THE PURPOSE OF PROVIDING BENEFITS TO MEMBERS AND THEIR DEPENDENTS.

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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 $8,504,176

Investment Income $32,504

Other Revenue $0

TOTAL REVENUE $8,536,680

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $1,458,259

TOTAL EXPENSES $9,714,348

Year-over-Year Comparison

	2023	2022	Change
Revenue	$8,536,680	$8,591,721	0.0%
Expenses	$9,714,348	$8,296,196	+0.2%
Net Income	$-1,177,668	$295,525	-5.0%

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

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

$552,122

Total Directors

$1,377,845

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
L ALLEN DOBSON JR	TRUSTEE	0.50	Director	$0	$0	$0
CONRAD FLICK	TRUSTEE	0.50	Director	$0	$0	$108,000
JOSEPH MOOSE	TRUSTEE	0.50	Director	$0	$0	$0
CHRISTOPHER WOODFIN	TRUSTEE	0.50	Director	$0	$674,656	$1,269,845
RONALD SMITH	EXECUTIVE BUSINESS ADVISOR	30.00	Officer	$0	$16,882	$552,122

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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$8,536,680	$9,714,348	$4,550,644	$-1,177,668
2022	$8,591,721	$8,296,196	$4,657,865	$295,525

INDEPENDENT CARE HEALTH BENEFIT TRUST