HealthNet

Legal name: Healthnet Inc

Nonprofit profile at a glance

EIN
351579827
IRS 990 coverage
2010–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Indianapolis, IN, USA
Phone
(317) 957-2200
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Hospitals and Related Primary Medical Care Facilities

Official website

Reported finances

Revenue
$83,684,379
Expenses
$83,291,158
Assets
$45,303,591
Liabilities
$24,475,893

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

Leadership & pay

25 people listed

Executive titles in this filing

  • ROB SANTA (CHAIRPERSON & PRESIDENT)
  • RICARDO DIAZ (PRESIDENT & CEO)
  • RENE KOUGEL (PRESIDENT/CEO/COO)

Highest reported compensation

  • RICARDO DIAZ (PRESIDENT & CEO): $424,378 total reported compensation
  • JANA SEITZ MD (OBGYN MED DIR): $421,448 total reported compensation
  • VARON CANTRELL (CHIEF MEDICAL OFFICER): $379,510 total reported compensation

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

Overview

Mission

We believe that all people have the right to high-quality, affordable health care. We provide compassionate health care.

What it reported doing in 2024

Healthnet, inc. Provides primary medical care at various sites in the city of indianapolis including: barrington health center, southeast health center, southwest health center, people's health center, martindale-brightwood health center, downtown health center, speedway health center, and northeast health center. In 2024, healthnet, inc. Provided 154,582 patient care medical visits to 53,378 medical patients, 34,755 dental visits to 10,144 dental patients, and 32,790 behavioral health visits to 6,415 patients. In 2024, healthnet ob/gyns and certified nurse midwives delivered 1,154 babies and delivered prenatal care to 1,436 women.

Operating model

Revenue model
Earned-program. 71% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 74
  • Accountability: 100
  • Sustainability: 28
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80.2%; rating input score 80
  • Program expense ratio: 80.6%; rating input score 81
  • Fundraising efficiency: $39.77 raised per $1 spent on fundraising; rating input score 71; 71st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0.5%; rating input score 34; 34th percentile among comparable filings
  • Total-asset coverage ratio: 0.54; rating input score 20; 20th percentile among comparable filings
  • Liabilities to assets ratio: 0.54; rating input score 33; 33rd percentile among comparable filings
  • Officer compensation ratio: 4.6%; rating input score 20; 20th percentile among comparable filings

Growth

  • Program expense growth: 4.4% per year; rating input score 100; 35th percentile among comparable filings
  • Revenue growth: 4.2% per year; rating input score 100; 34th percentile among comparable filings
  • Asset growth: 5.4% per year; rating input score 100; 39th percentile among comparable filings

Details

  • What they do: 4 programs and campaigns described on the official site
  • Where the money goes: 80.2% of revenue deployed · 80.6% of spending went to programs
  • Governance: 11 of 11 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $67.2M in reported program spending
  • Leadership: top reported pay $424K · 25 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $4.3M reported
  • Consistency: 33 of 34 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 13 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Moderate — Sustainability: Operating margin scored 34/100.
  • High — Sustainability: Total-asset coverage ratio scored 20/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 20/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 33/100.