Mount Carmel Health Insurance Company
Nonprofit profile at a glance
- EIN
- 251912781
- IRS 990 coverage
- 2014–2024
- Forms available
- Form 990 2024
- Location
- Columbus, OH, USA
- Phone
- 6145464000
- Rating
- 70
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Health, General and Financing
Reported finances
- Revenue
- $17,068,702
- Expenses
- $18,209,781
- Assets
- $15,688,684
- Liabilities
- $3,918,116
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
16 people listed
Executive titles in this filing
- LORRAINE LUTTON (DIRECTOR & MOUNT CARMEL CEO THR 6/24)
- JACK RANDOLPH (DIRECTOR; PRESIDENT & CEO)
- TAUANA MCDONALD (DIRECTOR & MOUNT CARMEL CEO AT 7/24)
Highest reported compensation
- LORRAINE LUTTON (DIRECTOR & MOUNT CARMEL CEO THR 6/24): $1,903,502 total reported compensation
- JACK RANDOLPH (DIRECTOR; PRESIDENT & CEO): $1,121,281 total reported compensation
- TAUANA MCDONALD (DIRECTOR & MOUNT CARMEL CEO AT 7/24): $909,604 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, mount carmel and trinity health, serve together in the spirit of the gospel as a compassionate and transforming healing presence within our communities.mount carmel health insurance company (mchic) is a member of mount carmel and trinity health.
What it reported doing in 2024
Mount carmel health insurance company (mchic) was formed in 2007 for the purpose of assisting medicare-eligible seniors in the central Ohio region to obtain access to medicare advantage insurance coverage that provides cost-effective health benefits, compassionate care, and service coupled with out-of-network benefits. Mchic is a wholly-owned nonprofit subsidiary of mount carmel health system, a tax-exempt health care system under irc section 501(c)(3). Mchic offers a preferred provider organization plan in accordance with the requirements of the centers for medicare and medicaid services (cms). The plan is available to all residents of Ohio within mchic's service area who are eligible for medicare parts a and b. As an integral part of mount carmel health system, mchic is a community-based health care organization that works in collaboration with employers, individual members, physicians, health care providers, and community and governmental agencies to continually improve the health of its members by providing exceptional coverage and access to high quality and cost effective care. Please visit our website for additional information: www.thpmedicare.org/mount-carmel
Operating model
- Revenue model
- Earned-program. 98% 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.
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 expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 84
- Transparency & Controls: 67
- Accountability: 72
- Sustainability: 28
- Growth: 20
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 96.2%; rating input score 96
- Program expense ratio: 90.7%; rating input score 91
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd 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: Limited
- Major donor itemization: Limited
- Related-party transparency: Yes; rating input score 100
Accountability
- Independent voting board: 66.7%; rating input score 67; 11th percentile among comparable filings
- Governance controls: 7 of 9 controls in place; rating input score 78
- 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: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -6.7%; rating input score 14; 14th percentile among comparable filings
- Total-asset coverage ratio: 0.86; rating input score 31; 31st percentile among comparable filings
- Liabilities to assets ratio: 0.25; rating input score 52; 52nd percentile among comparable filings
- Officer compensation ratio: 4.7%; rating input score 53; 53rd percentile among comparable filings
Growth
- Program expense growth: -1.5% per year; rating input score 0; 7th percentile among comparable filings
- Revenue growth: -1.8% per year; rating input score 0; 5th percentile among comparable filings
- Asset growth: 6.5% per year; rating input score 100; 46th percentile among comparable filings
Details
- Where the money goes: 96.2% of revenue deployed · 90.7% of spending went to programs
- Governance: 6 of 9 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $16.5M in reported program spending
- Leadership: top reported pay $1.9M · 16 people listed · 0 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $2.9M reported
- Consistency: 20 of 20 current checks pass
- Schedules: 4 filed schedules · includes executive pay and related organizations
- Filing history: 10 filing years from 2014 to 2024
- Contacts: How to reach this organization
- Related organizations: 312 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.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- High — Sustainability: Operating margin scored 14/100.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- Moderate — Sustainability: Total-asset coverage ratio scored 31/100.
- Review — Sustainability: Liabilities to assets ratio scored 52/100.
- Review — Sustainability: Officer compensation ratio scored 53/100.