Hartford Health Care Corporation
Hartford HealthCare: Strong Revenue Growth, High Executive Compensation
EIN: 222672834 · Hartford, CT · NTEE: E210 · Updated: 2026-04-04
Is Hartford Health Care Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Hartford Health Care Corporation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Hartford Health Care Corporation
Hartford Health Care Corporation (EIN: 222672834) is a nonprofit organization based in Hartford, CT, classified under NTEE code E210. The organization reported total revenue of $748.1M and total assets of $3.4B according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hartford Health Care Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Hartford Health Care Corporation is a major nonprofit that has been operating for 40 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 8.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $748.1M |
| Total Expenses | $764.2M |
| Surplus / Deficit | $-16,111,142 |
| Total Assets | $3.1B |
| Total Liabilities | $2.3B |
| Net Assets | $808.8M |
| Operating Margin | -2.2% |
| Debt-to-Asset Ratio | 73.6% |
| Months of Reserves | 48.1 months |
Financial Health Grade: C
In 2023, Hartford Health Care Corporation reported a deficit of $16.1M with expenses exceeding revenue, holds 48.1 months of operating reserves (strong position), has a debt-to-asset ratio of 73.6% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Hartford Health Care Corporation's revenue has grown at a compound annual growth rate (CAGR) of 8.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +10.8% | +10.1% | +0.1% |
| 2022 | +22.4% | +3.7% | +14.6% |
| 2021 | +1.3% | +13.6% | +14.6% |
| 2020 | +29.9% | +36.0% | +15.7% |
| 2019 | +9.3% | +10.4% | +17.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1986 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Hartford Health Care Corporation with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Hartford Health Care Corporation allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $16.1M, with expenses exceeding revenue.
- Debt-to-asset ratio: 73.6%.
Executive Compensation Analysis
Executive compensation for Hartford HealthCare's CEO, Jeffrey Flaks, was reported at $7,642,361 in 2023, which is significantly higher than the median for similar-sized non-profits and warrants scrutiny regarding its alignment with the organization's mission.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Hartford Health Care Corporation's IRS 990 filings:
- High executive compensation relative to total expenses and revenue, with CEO compensation at $7,642,361 in 2023.
- Consistent increase in total expenses (x) outpacing revenue (r) in some years, potentially indicating operational inefficiencies or strategic investments.
- Significant growth in liabilities (l) from $896,033,463 in 2018 to $2,251,344,144 in 2023, which could indicate increased debt burden or long-term obligations.
Strengths
The following positive indicators were identified for Hartford Health Care Corporation:
- Consistent and substantial revenue growth from $361,232,028 in 2017 to $748,124,959 in 2023, demonstrating strong financial performance.
- Significant increase in total assets (a) from $1,666,603,905 in 2017 to $3,060,147,543 in 2023, indicating a growing resource base.
- Maintained 0% lobbying expenses (c) across all reported years, suggesting a focus on direct healthcare services rather than political influence.
Frequently Asked Questions about Hartford Health Care Corporation
Is Hartford Health Care Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Hartford Health Care Corporation (EIN: 222672834) some concerns. Mission Score: 75/100. 3 red flags identified, 3 strengths noted.
How does Hartford Health Care Corporation spend its money?
Hartford Health Care Corporation directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Hartford Health Care Corporation tax-deductible?
Hartford Health Care Corporation is registered as a tax-exempt nonprofit (EIN: 222672834). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What does Hartford Health Care Corporation do?
Hartford Health Care Corporation is a nonprofit organization in the Health Care sector, located in Hartford, Connecticut. It is classified under NTEE code E210.
How much revenue does Hartford Health Care Corporation have?
Hartford Health Care Corporation reported total revenue of $748,053,325. Based on 13 IRS 990 filings on record.
What are Hartford Health Care Corporation's total assets?
Hartford Health Care Corporation holds total assets of $3,399,077,069 as reported in IRS 990 filings.
Where is Hartford Health Care Corporation located?
Hartford Health Care Corporation is based in Hartford, Connecticut.
What is Hartford Health Care Corporation's EIN?
Hartford Health Care Corporation's Employer Identification Number (EIN) is 222672834. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Hartford Health Care Corporation?
Hartford Health Care Corporation is classified under NTEE code E210 (Health Care).
Is Hartford Health Care Corporation a registered 501(c)(3)?
Yes, Hartford Health Care Corporation is recognized as a tax-exempt organization by the IRS. EIN: 222672834.
Does Hartford Health Care Corporation file IRS Form 990?
Yes, Hartford Health Care Corporation has 13 IRS Form 990 filings on record. The most recent covers tax period 202309.
What was Hartford Health Care Corporation's revenue in 2023?
In the 202309 filing period, Hartford Health Care Corporation reported total revenue of $748,124,959, total expenses of $764,236,101, and net assets of $3,060,147,543.
Is Hartford Health Care Corporation's revenue growing or declining?
Hartford Health Care Corporation's revenue is growing. Revenue went from $674,949,590 (202209) to $748,124,959 (202309), a +10.8% change. Based on 13 filings on record.
What is Hartford Health Care Corporation's most recent 990 filing?
The most recent IRS Form 990 filing for Hartford Health Care Corporation covers tax period 202309. It shows revenue of $748,124,959, expenses of $764,236,101, total assets of $3,060,147,543, and liabilities of $2,251,344,144.
How much does Hartford Health Care Corporation spend on programs vs administration?
Based on IRS 990 analysis, Hartford Health Care Corporation allocates approximately 85% of expenses to program services, 10% to administrative costs, and 5% to fundraising. This indicates strong program focus.
Is Hartford Health Care Corporation a trustworthy charity?
Based on AI analysis of IRS 990 data, Hartford Health Care Corporation appears trustworthy. Mission Score: 75/100 (Good). 3 red flags identified. 3 strengths noted.
What are the red flags for Hartford Health Care Corporation?
The following concerns were identified: High executive compensation relative to total expenses and revenue, with CEO compensation at $7,642,361 in 2023.. Consistent increase in total expenses (x) outpacing revenue (r) in some years, potentially indicating operational inefficiencies or strategic investments.. Significant growth in liabilities (l) from $896,033,463 in 2018 to $2,251,344,144 in 2023, which could indicate increased debt burden or long-term obligations.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Hartford Health Care Corporation's strengths?
Positive indicators for Hartford Health Care Corporation include: Consistent and substantial revenue growth from $361,232,028 in 2017 to $748,124,959 in 2023, demonstrating strong financial performance.. Significant increase in total assets (a) from $1,666,603,905 in 2017 to $3,060,147,543 in 2023, indicating a growing resource base.. Maintained 0% lobbying expenses (c) across all reported years, suggesting a focus on direct healthcare services rather than political influence.. These findings are derived from AI analysis of the organization's financial filings.
How does Hartford Health Care Corporation compensate executives?
Executive compensation for Hartford HealthCare's CEO, Jeffrey Flaks, was reported at $7,642,361 in 2023, which is significantly higher than the median for similar-sized non-profits and warrants scrutiny regarding its alignment with the organization's mission. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the substantial increase in liabilities, what is the primary driver of this growth, and how does it impact the organization's long-term financial stability?
The significant increase in liabilities, from $896 million in 2018 to over $2.2 billion in 2023, likely stems from strategic investments in infrastructure, acquisitions, or expansion projects. While this growth supports asset expansion, it also increases financial risk and requires careful management to ensure long-term stability and avoid excessive debt burden.
How does Hartford HealthCare justify the substantial executive compensation, particularly the CEO's $7.6 million in 2023, in the context of its nonprofit status and mission?
The justification for high executive compensation in a nonprofit often centers on attracting top talent to manage complex, large-scale operations and achieve mission-critical goals. However, for a nonprofit like Hartford HealthCare, such compensation levels, especially the CEO's $7,642,361 in 2023, typically require robust explanation regarding performance metrics, market comparisons, and alignment with community benefit to maintain public trust and donor confidence.
Filing History
IRS 990 filing history for Hartford Health Care Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Hartford Health Care Corporation's revenue has grown by 151.6%, moving from $297.3M to $748.1M. Total assets increased by 366.7% over the same period, from $655.7M to $3.1B. Total functional expenses rose by 600%, from $109.2M to $764.2M. In its most recent filing year (2023), Hartford Health Care Corporation reported a deficit of $16.1M, with expenses exceeding revenue. The organization holds $2.3B in liabilities against $3.1B in assets (debt-to-asset ratio: 73.6%), resulting in net assets of $808.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $748.1M | $764.2M | $3.1B | $2.3B | — | View 990 |
| 2022 | $674.9M | $694.2M | $3.1B | $2.3B | — | View 990 |
| 2021 | $551.6M | $669.7M | $2.7B | $1.9B | — | View 990 |
| 2020 | $544.5M | $589.7M | $2.3B | $1.5B | — | View 990 |
| 2019 | $419.2M | $433.7M | $2.0B | $1.2B | — | View 990 |
| 2018 | $383.7M | $392.8M | $1.7B | $896.0M | — | View 990 |
| 2017 | $361.2M | $361.9M | $1.7B | $914.1M | — | View 990 |
| 2016 | $504.1M | $414.6M | $1.7B | $956.5M | — | View 990 |
| 2015 | $298.0M | $335.1M | $1.6B | $963.2M | — | View 990 |
| 2014 | $271.1M | $291.0M | $1.4B | $763.0M | — | View 990 |
| 2013 | $127.3M | $135.3M | $1.1B | $454.9M | — | View 990 |
| 2012 | $119.8M | $148.1M | $684.9M | $440.3M | — | View 990 |
| 2011 | $297.3M | $109.2M | $655.7M | $426.9M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $748.1M, expenses of $764.2M, and assets of $3.1B (revenue +10.8% year-over-year).
- 2022: Revenue of $674.9M, expenses of $694.2M, and assets of $3.1B (revenue +22.4% year-over-year).
- 2021: Revenue of $551.6M, expenses of $669.7M, and assets of $2.7B (revenue +1.3% year-over-year).
- 2020: Revenue of $544.5M, expenses of $589.7M, and assets of $2.3B (revenue +29.9% year-over-year).
- 2019: Revenue of $419.2M, expenses of $433.7M, and assets of $2.0B (revenue +9.3% year-over-year).
- 2018: Revenue of $383.7M, expenses of $392.8M, and assets of $1.7B (revenue +6.2% year-over-year).
- 2017: Revenue of $361.2M, expenses of $361.9M, and assets of $1.7B (revenue -28.3% year-over-year).
- 2016: Revenue of $504.1M, expenses of $414.6M, and assets of $1.7B (revenue +69.2% year-over-year).
- 2015: Revenue of $298.0M, expenses of $335.1M, and assets of $1.6B (revenue +9.9% year-over-year).
- 2014: Revenue of $271.1M, expenses of $291.0M, and assets of $1.4B (revenue +113.0% year-over-year).
- 2013: Revenue of $127.3M, expenses of $135.3M, and assets of $1.1B (revenue +6.3% year-over-year).
- 2012: Revenue of $119.8M, expenses of $148.1M, and assets of $684.9M (revenue -59.7% year-over-year).
- 2011: Revenue of $297.3M, expenses of $109.2M, and assets of $655.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Hartford Health Care Corporation:
Data Sources and Methodology
This transparency report for Hartford Health Care Corporation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.