Healthnet Foundation Inc

Nonprofit profile at a glance

EIN
384090140
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-N 2019
Location
Indianapolis, IN, USA
Phone
3179572013
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Public Health Program (Includes General Health and Wellness Promotion Services)

Reported finances

Revenue
$23,979
Expenses
$174,171
Assets
$396,611
Liabilities
$360,913

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • KEITH JEWELL (CHAIRPERSON & PRESIDENT)

Highest reported compensation

  • RICK DIAZ (BOARD MEMBER): $424,378 total reported compensation
  • CINDY BRUMGARNER (INTERIM DIRECTOR OF THE HE): $137,190 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of healthnet foundation, inc. Is to provide enduring support for healthnet's health centers and programs through funding and cultivation of community friendships, partners, and donors.

What it reported doing in 2024

The healthnet foundation's vision is to be recognized as a trusted philanthropic leader in the communities we serve through the delivery of the highest quality donor services, customized and unique grant and scholarship programs, and bold initiatives that address community healthcare needs, to include: social determinants of health. During 2024, the foundation continued the patient assistance fund and raised funds for the employee assistance fund.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 78% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 71
  • Accountability: 62
  • Sustainability: 16
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 84.3%; rating input score 84
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 87.5%; rating input score 88; 26th percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -626.3%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 2.28; rating input score 36; 36th percentile among comparable filings
  • Liabilities to assets ratio: 0.91; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 29.7%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: 42.9% per year; rating input score 100; 93rd percentile among comparable filings
  • Revenue growth: -24.6% per year; rating input score 0; 16th percentile among comparable filings
  • Asset growth: 16.9% per year; rating input score 100; 89th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 84.3% of spending went to programs
  • Governance: 7 of 8 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $147K in reported program spending
  • Leadership: top reported pay $424K · 9 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 18 of 18 current checks pass
  • Schedules: 5 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Sustainability: Operating margin scored 7/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 36/100.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.
  • High — Sustainability: Officer compensation ratio scored 10/100.