Health Equity Solutions Inc
EIN: 465011055 · Hartford, CT · NTEE: E01
| Metric | Value |
|---|---|
| Total Revenue | $1.2M |
| Total Expenses | $1.5M |
| Net Assets | $604K |
Is Health Equity Solutions Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Health Equity Solutions Inc
Health Equity Solutions Inc (EIN: 465011055) is a nonprofit organization based in Hartford, CT, classified under NTEE code E01. The organization reported total revenue of $1.2M and total assets of $554K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Health Equity Solutions Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Health Equity Solutions Inc is a mid-size nonprofit that has been operating for 10 years, with 9 years of IRS 990 filings on record (2015–2023). Revenue has grown at a compound annual rate of 27.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.3M |
| Total Expenses | $1.5M |
| Surplus / Deficit | $-144,951 |
| Total Assets | $870K |
| Total Liabilities | $266K |
| Net Assets | $604K |
| Operating Margin | -10.9% |
| Debt-to-Asset Ratio | 30.5% |
| Months of Reserves | 7.1 months |
Financial Health Grade: B
In 2023, Health Equity Solutions Inc reported a deficit of $145K with expenses exceeding revenue, holds 7.1 months of operating reserves (strong position), has a debt-to-asset ratio of 30.5% (moderate leverage).
Financial Trends
Over 9 years of filings (2015–2023), Health Equity Solutions Inc's revenue has grown at a compound annual growth rate (CAGR) of 27.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -8.3% | +2.9% | -23.8% |
| 2022 | -25.4% | -4.4% | +16.2% |
| 2021 | +121.9% | +133.6% | +84.2% |
| 2020 | +19.7% | +4.1% | +110.3% |
| 2019 | +61.6% | +48.1% | +163.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2016 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Health Equity Solutions Inc has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Health Equity Solutions Inc with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $145K, with expenses exceeding revenue.
- Debt-to-asset ratio: 30.5%.
Frequently Asked Questions about Health Equity Solutions Inc
Is Health Equity Solutions Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Health Equity Solutions Inc (EIN: 465011055) insufficient data. 0 red flags identified, 0 strengths noted.
How does Health Equity Solutions Inc spend its money?
Detailed spending breakdown data is not yet available for Health Equity Solutions Inc. Check back for updated IRS 990 analysis.
Are donations to Health Equity Solutions Inc tax-deductible?
Health Equity Solutions Inc is registered as a tax-exempt nonprofit (EIN: 465011055). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Health Equity Solutions Inc located?
Health Equity Solutions Inc is headquartered in Hartford, Connecticut and files with the IRS under EIN 465011055. It is classified under NTEE code E01.
How many years of IRS 990 filings does Health Equity Solutions Inc have?
Health Equity Solutions Inc has 9 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $1.2M in total revenue.
Filing History
IRS 990 filing history for Health Equity Solutions Inc showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2015–2023), Health Equity Solutions Inc's revenue has grown by 595.4%, moving from $192K to $1.3M. Total assets increased by 241.5% over the same period, from $255K to $870K. Total functional expenses rose by 691.2%, from $187K to $1.5M. In its most recent filing year (2023), Health Equity Solutions Inc reported a deficit of $145K, with expenses exceeding revenue. The organization holds $266K in liabilities against $870K in assets (debt-to-asset ratio: 30.5%), resulting in net assets of $604K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.3M | $1.5M | $870K | $266K | — | — |
| 2022 | $1.5M | $1.4M | $1.1M | $392K | — | View 990 |
| 2021 | $1.9M | $1.5M | $981K | $130K | — | View 990 |
| 2020 | $879K | $643K | $533K | $128K | — | — |
| 2019 | $734K | $618K | $253K | $84K | — | View 990 |
| 2018 | $454K | $417K | $96K | $43K | — | View 990 |
| 2017 | $355K | $351K | $39K | $22K | — | View 990 |
| 2016 | $397K | $392K | $39K | $27K | — | View 990 |
| 2015 | $192K | $187K | $255K | $247K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.3M, expenses of $1.5M, and assets of $870K (revenue -8.3% year-over-year).
- 2022: Revenue of $1.5M, expenses of $1.4M, and assets of $1.1M (revenue -25.4% year-over-year).
- 2021: Revenue of $1.9M, expenses of $1.5M, and assets of $981K (revenue +121.9% year-over-year).
- 2020: Revenue of $879K, expenses of $643K, and assets of $533K (revenue +19.7% year-over-year).
- 2019: Revenue of $734K, expenses of $618K, and assets of $253K (revenue +61.6% year-over-year).
- 2018: Revenue of $454K, expenses of $417K, and assets of $96K (revenue +28.1% year-over-year).
- 2017: Revenue of $355K, expenses of $351K, and assets of $39K (revenue -10.5% year-over-year).
- 2016: Revenue of $397K, expenses of $392K, and assets of $39K (revenue +106.9% year-over-year).
- 2015: Revenue of $192K, expenses of $187K, and assets of $255K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Health Equity Solutions Inc:
Data Sources and Methodology
This transparency report for Health Equity Solutions Inc 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.