Healthfirst Health Plan Inc
Healthfirst Health Plan Inc. consistently operates with narrow surpluses while experiencing significant revenue and asset growth.
EIN: 113029569 · New York, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $7.2B |
| Total Expenses | $5.8B |
| Program Spending | 98% |
| Net Assets | $857.0M |
| Transparency Score | 85/100 |
Is Healthfirst Health Plan Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Healthfirst Health Plan Inc directs 98% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Healthfirst Health Plan Inc
Healthfirst Health Plan Inc (EIN: 113029569) is a nonprofit organization based in New York, NY. The organization reported total revenue of $7.2B and total assets of $2.2B according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Healthfirst Health Plan Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Healthfirst Health Plan Inc is a major nonprofit that has been operating for 34 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 12.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $5.9B |
| Total Expenses | $5.8B |
| Surplus / Deficit | +$94.5M |
| Total Assets | $2.0B |
| Total Liabilities | $1.1B |
| Net Assets | $857.0M |
| Operating Margin | 1.6% |
| Debt-to-Asset Ratio | 57.2% |
| Months of Reserves | 4.1 months |
Financial Health Grade: A
In 2023, Healthfirst Health Plan Inc reported a surplus of $94.5M with revenue exceeding expenses, holds 4.1 months of operating reserves (adequate), has a debt-to-asset ratio of 57.2% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Healthfirst Health Plan Inc's revenue has grown at a compound annual growth rate (CAGR) of 12.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +20.9% | +19.5% | +27.3% |
| 2022 | +21.6% | +20.8% | +23.9% |
| 2021 | +16.2% | +17.5% | +6.7% |
| 2020 | +13.3% | +13.3% | +28.3% |
| 2019 | +16.1% | +16.4% | +16.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 1992 |
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 Healthfirst Health Plan Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 2%
- programs: 98%
- fundraising: 0%
According to IRS 990 filings, Healthfirst Health Plan Inc allocates its expenses as follows: admin: 2%, programs: 98%, fundraising: 0%. With 98% 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 surplus of $94.5M, with revenue exceeding expenses.
- Debt-to-asset ratio: 57.2%.
Executive Compensation Analysis
The IRS 990 filings consistently report 0% for officer compensation, which is unusual for an organization of this size and suggests that executive compensation may be reported in a different section or through a related entity not captured in this summary. Further investigation would be needed to understand the full compensation structure for its leadership.
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 Healthfirst Health Plan Inc's IRS 990 filings:
- 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
The following positive indicators were identified for Healthfirst Health Plan Inc:
- 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).
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) some concerns. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
How does Healthfirst Health Plan Inc spend its money?
Healthfirst Health Plan Inc directs 98% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Healthfirst Health Plan Inc tax-deductible?
Healthfirst Health Plan Inc is registered as a tax-exempt nonprofit (EIN: 113029569). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Healthfirst Health Plan Inc located?
Healthfirst Health Plan Inc is headquartered in New York, New York and files with the IRS under EIN 113029569.
How many years of IRS 990 filings does Healthfirst Health Plan Inc have?
Healthfirst Health Plan Inc has 13 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 $7.2B in total revenue.
Is Healthfirst Health Plan Inc. a good charity?
Based on the provided financial data, Healthfirst Health Plan Inc. appears to be a financially stable and efficient organization. Its primary function as a health plan means most of its expenditures are directly on program services (healthcare costs), which aligns with its mission. The consistent growth and narrow operating margins suggest effective management of its substantial revenue.
How has Healthfirst's revenue grown over time?
Healthfirst has experienced remarkable revenue growth, increasing from $1.78 billion in 2014 to $5.91 billion in 2023, representing over a 230% increase in less than a decade. This indicates significant expansion of its operations and reach.
What is the organization's financial stability?
The organization demonstrates strong financial stability. Its assets have grown from $564 million in 2014 to over $2 billion in 2023, consistently exceeding its liabilities. This healthy asset base provides a strong foundation for its operations.
Filing History
IRS 990 filing history for Healthfirst Health Plan Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Healthfirst Health Plan Inc's revenue has grown by 323.3%, moving from $1.4B to $5.9B. Total assets increased by 334.4% over the same period, from $460.9M to $2.0B. Total functional expenses rose by 323.5%, from $1.4B to $5.8B. In its most recent filing year (2023), Healthfirst Health Plan Inc reported a surplus of $94.5M, with revenue exceeding expenses. The organization holds $1.1B in liabilities against $2.0B in assets (debt-to-asset ratio: 57.2%), resulting in net assets of $857.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $5.9B | $5.8B | $2.0B | $1.1B | — | — |
| 2022 | $4.9B | $4.9B | $1.6B | $986.2M | — | — |
| 2021 | $4.0B | $4.0B | $1.3B | $744.4M | — | View 990 |
| 2020 | $3.5B | $3.4B | $1.2B | $726.1M | — | View 990 |
| 2019 | $3.1B | $3.0B | $927.1M | $521.9M | — | View 990 |
| 2018 | $2.6B | $2.6B | $798.7M | $448.2M | — | View 990 |
| 2017 | $2.3B | $2.3B | $778.5M | $468.3M | — | View 990 |
| 2016 | $2.2B | $2.2B | $831.0M | $529.3M | — | View 990 |
| 2015 | $2.0B | $2.0B | $652.1M | $380.8M | — | View 990 |
| 2014 | $1.8B | $1.8B | $564.8M | $349.3M | — | View 990 |
| 2013 | $1.6B | $1.6B | $494.5M | $282.6M | — | View 990 |
| 2012 | $1.5B | $1.5B | $515.3M | $298.9M | — | View 990 |
| 2011 | $1.4B | $1.4B | $460.9M | $268.3M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $5.9B, expenses of $5.8B, and assets of $2.0B (revenue +20.9% year-over-year).
- 2022: Revenue of $4.9B, expenses of $4.9B, and assets of $1.6B (revenue +21.6% year-over-year).
- 2021: Revenue of $4.0B, expenses of $4.0B, and assets of $1.3B (revenue +16.2% year-over-year).
- 2020: Revenue of $3.5B, expenses of $3.4B, and assets of $1.2B (revenue +13.3% year-over-year).
- 2019: Revenue of $3.1B, expenses of $3.0B, and assets of $927.1M (revenue +16.1% year-over-year).
- 2018: Revenue of $2.6B, expenses of $2.6B, and assets of $798.7M (revenue +14.8% year-over-year).
- 2017: Revenue of $2.3B, expenses of $2.3B, and assets of $778.5M (revenue +2.2% year-over-year).
- 2016: Revenue of $2.2B, expenses of $2.2B, and assets of $831.0M (revenue +10.5% year-over-year).
- 2015: Revenue of $2.0B, expenses of $2.0B, and assets of $652.1M (revenue +13.9% year-over-year).
- 2014: Revenue of $1.8B, expenses of $1.8B, and assets of $564.8M (revenue +10.0% year-over-year).
- 2013: Revenue of $1.6B, expenses of $1.6B, and assets of $494.5M (revenue +9.4% year-over-year).
- 2012: Revenue of $1.5B, expenses of $1.5B, and assets of $515.3M (revenue +5.9% year-over-year).
- 2011: Revenue of $1.4B, expenses of $1.4B, and assets of $460.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Healthfirst Health Plan Inc:
Data Sources and Methodology
This transparency report for Healthfirst Health Plan 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.