Healthshare Connection

Nonprofit profile at a glance

EIN
852438856
IRS 990 coverage
2022–2022
Forms available
Form 990 2022
Location
Frisco, TX, USA
Phone
7252224552
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$371,661
Expenses
$228,111
Assets
$177,165
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

1 person listed

People named in this filing

  • THOMAS COLE (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Healthshare connections was established to provide a low cost way for people to share their medical expenses. Ninety percent (90%) of all of the donations accepted will go towards medical expenses for our members. Healthshare connection has limited it's expenses to ten (10) percent of the membership dues collected. These fees will help cover network and administration fees for the medical expense sharing programs. These fees will also help cover the cost of administering the expense payments.

What it reported doing in 2022

Healthshare connections was established to provide a low cost way for people to share their medical expenses.

Operating model

Revenue model
Membership-supported. 100% of the money available for current operations came from membership dues.
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.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 90
  • Accountability: 64
  • Sustainability: 69
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 61.4%; rating input score 61
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 38.6%; rating input score 88; 88th percentile among comparable filings
  • Total-asset coverage ratio: 0.78; rating input score 32; 32nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 82; 82nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 70; 70th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 61.4% of revenue deployed · 100% of spending went to programs
  • Governance: 1 of 1 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $228K in reported program spending
  • Leadership: top reported pay $0 · 1 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 2 filed schedules
  • Contacts: How to reach this organization
  • 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 — Accountability: Governance controls: 5 of 6 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 32/100.