Is Washington Saratoga Warren Hamiltonessex Counties Health Ins Consorti Legit?
Quick charity verification for Washington Saratoga Warren Hamiltonessex Counties Health Ins Consorti (EIN: 205988744)
Verdict: Washington Saratoga Warren Hamiltonessex Counties Health Ins Consorti appears trustworthy
90/100Mission Score
$174.3MRevenue
$51.6MAssets
2Red Flags
4Strengths
Red Flags
Occasional operating deficits, such as in 2023 where expenses exceeded revenue by over $9 million, could indicate reliance on reserves or a need for tighter cost controls.
The consistent 0% officer compensation for an organization of this scale is highly unusual and might warrant further inquiry into how executive leadership is compensated or structured, to ensure sustainability and accountability.
Strengths
Strong program spending efficiency, as evidenced by expenses closely tracking revenue and the nature of a health insurance consortium.
Exceptional financial transparency regarding executive compensation, with 0% reported officer compensation across all filings.
Consistent revenue growth over the past decade, from $114.4 million in 2014 to $144.2 million in 2023, indicating stable demand and operational capacity.
Substantial asset base, consistently above $50 million, providing financial stability and a buffer against operational fluctuations.
AI Transparency Report
The Washington Saratoga Warren Hamiltonessex Counties Health Ins Consorti (WSWHHEC) demonstrates a consistent operational profile, primarily focused on providing health insurance. Over the past decade, its revenue has steadily increased from $114.4 million in 2014 to $144.2 million in 2023, indicating stable demand for its services. While the organization generally operates with expenses closely aligned to revenue, there have been periods of deficit, such as in 2023 where expenses of $153.5 million exceeded revenue of $144.2 million, and in 2022 where expenses of $148.0 million exceeded revenue of $139.4 million. This suggests that the consortium occasionally draws on its assets or reserves to cover operational costs, which is not uncommon for insurance entities managing claims. The organization's assets have remained substantial, fluctuating between $51.6 million and $67.7 million, providing a solid financial cushion. The consistent reporting of 0% officer compensation across all filings indicates a strong commitment to directing funds towards its primary mission rather than executive salaries, enhancing its transparency and efficiency scores. The liabilities have also been managed within reasonable bounds relative to assets, suggesting prudent financial management.