MDwise

Legal name: Mdwise Inc

Nonprofit profile at a glance

EIN
351931354
IRS 990 coverage
2010–2025
Official website data refreshed
Jul 2026
Forms available
Form 990 2025
Location
Indianapolis, IN, US
Phone
(800) 356-1204
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,654,598,483
Expenses
$1,624,278,807
Assets
$666,018,143
Liabilities
$408,748,762

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

15 people listed

Executive titles in this filing

  • JESSICA CROMER (PRESIDENT AND CEO)

Highest reported compensation

  • DAVID MAZURKIEWICZ (TREASURER): $2,984,282 total reported compensation
  • JESSICA CROMER (PRESIDENT AND CEO): $1,925,971 total reported compensation
  • BRIAN BROWN (CHAIRMAN): $1,061,493 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide high-quality, affordable healthcare and improve the well-being of our members by engaging exceptional associates, community leaders and healthcare professionals.

What it reported doing in 2025

Beginning january 1, 2024, mdwise was granted a four-year contract with the state of Indiana through the family and social service administration ("fssa") and office of medicaid policy and planning ("ompp"), to arrange for and administer two risk-based managed care programs (hoosier healthwise and the healthy Indiana plan) for certain Indiana medicaid enrollees. Mdwise contracts with various delivery networks including the affiliated mdwise medicaid network ("mdwise excel"). Excel and the other delivery networks accept the medical service risk for enrollees who choose a primary care provider after selecting the mdwise network. On 11/12/2025 mdwise received notice of its medicaid contract termination, effective end of day 12/31/2025, from Indiana family and social services administration. Mdwise is administering existing obligations through runout.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating 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.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 61
  • Accountability: 28
  • Sustainability: 38
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97.3%; rating input score 97
  • Program expense ratio: 99.1%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 85.7%; rating input score 86; 1st 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: 82%; rating input score 82; 24th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 1.8%; rating input score 42; 42nd percentile among comparable filings
  • Total-asset coverage ratio: 0.41; rating input score 12; 12th percentile among comparable filings
  • Liabilities to assets ratio: 0.61; rating input score 30; 30th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 7.5% per year; rating input score 100; 56th percentile among comparable filings
  • Revenue growth: 8.9% per year; rating input score 100; 67th percentile among comparable filings
  • Asset growth: 13.2% per year; rating input score 100; 81st percentile among comparable filings

Details

  • What they do: 2 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 97.3% of revenue deployed · 99.1% of spending went to programs
  • Governance: 0 of 5 board members independent · 6 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $1.6B in reported program spending
  • Leadership: top reported pay $3M · 15 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $1.5M reported
  • Consistency: 33 of 35 current checks pass · 2 findings to review
  • Schedules: 5 filed schedules · includes grants and executive pay
  • Filing history: 16 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 10 filed money-flow records
  • Related organizations: 64 filed related-organization links
  • 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.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • Moderate — Sustainability: Operating margin scored 42/100.
  • High — Sustainability: Total-asset coverage ratio scored 12/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 30/100.