Quick charity verification for Healthfirst Health Plan Inc (EIN: 113029569)
Verdict: Healthfirst Health Plan Inc appears trustworthy
85/100Mission Score
$7.2BRevenue
$2.2BAssets
2Red Flags
4Strengths
Red Flags
Officer compensation consistently reported as 0% on 990 filings, which is atypical for an organization of this scale and warrants further investigation into how executive compensation is structured and reported.
NTEE Code listed as 'Unknown', which could indicate a lack of detailed classification or reporting in some public databases.
Strengths
Exceptional revenue growth, increasing from $1.78 billion in 2014 to $5.91 billion in 2023.
Strong financial stability with assets consistently growing and exceeding liabilities (e.g., $2.002 billion assets vs. $1.145 billion liabilities in 2023).
High program spending efficiency, as a health plan, the vast majority of expenses are directly related to providing healthcare services.
Consistent operational surpluses, indicating sound financial management (e.g., $94 million surplus in 2023).
Spending Breakdown
How Healthfirst Health Plan Inc allocates its funds across programs, administration, and fundraising.
98%
Program Spending
Healthy — majority goes to mission
2%
Admin Costs
Reasonable — admin costs in check
0%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Healthfirst Health Plan Inc
Is Healthfirst Health Plan Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Healthfirst Health Plan Inc (EIN: 113029569) appears trustworthy. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
Is Healthfirst Health Plan Inc a good charity to donate to?
Healthfirst Health Plan Inc has a Mission Score of 85/100. Revenue: $7.2B. Assets: $2.2B. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Healthfirst Health Plan Inc?
The Employer Identification Number (EIN) for Healthfirst Health Plan Inc is 113029569. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Healthfirst Health Plan Inc spend its money?
Healthfirst Health Plan Inc allocates 98% to programs, 2% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Healthfirst Health Plan Inc's tax-exempt status?
You can verify Healthfirst Health Plan Inc's tax-exempt status using EIN 113029569 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
Healthfirst Health Plan Inc. demonstrates robust financial health, with consistent and significant revenue growth over the past decade, reaching $5.9 billion in 2023. The organization consistently operates with a narrow surplus, indicating efficient management of its substantial resources. For instance, in 2023, expenses were $5.817 billion against revenues of $5.911 billion, resulting in a surplus of approximately $94 million. This pattern of near break-even operations is typical for health plans, where the majority of revenue is spent on healthcare services.
The organization's spending efficiency appears high, as the vast majority of its expenses are directly related to its program services (providing health insurance). The consistent growth in assets, from $564 million in 2014 to over $2 billion in 2023, further solidifies its financial stability. Transparency is generally good, with regular IRS 990 filings available, though the NTEE code is listed as 'Unknown', which could be an area for improvement in classification.