Point32health Inc

Nonprofit profile at a glance

EIN
814089215
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Canton, MA, USA
Phone
6179729400
Rating confidence
Limited
Sector
Research Institutes and/or Public Policy Analysis

Official website

Reported finances

Revenue
$-552,030,268
Expenses
$9,109,862
Assets
$1,524,215,390
Liabilities
$21,393,727

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

Leadership & pay

35 people listed

Executive titles in this filing

  • CAIN HAYES (DIR. PRES. & CEO (END 9/24))
  • PHILIP BARR (EVP, PRESIDENT, MARKETS)
  • R SCOTT WALKER (CFO & PRESIDENT (START 9/24))
  • THOMAS CROSWELL (FORMER CEO)

Highest reported compensation

  • CAIN HAYES (DIR. PRES. & CEO (END 9/24)): $4,574,652 total reported compensation
  • PHILIP BARR (EVP, PRESIDENT, MARKETS): $1,739,964 total reported compensation
  • TRACEY CARTER (FORMER SVP, CHIEF ACTUARY): $1,616,917 total reported compensation

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

Overview

Mission

See schedule o

What it reported doing in 2024

P32h's purpose is to operate exclusively for the promotion of social welfare, for the benefit of, to perform the functions of, and to carry out the purposes of and oversee organizations that: (a) arrange for the provision of comprehensive health care services, primarily on a pre-paid basis, managed care programs, and other alternative health care delivery programs, including programs directed primarily at low income residents; (b) promote health maintenance through providing and/or arranging for the provision of health education services; and/or (c) promote positive regional health planning between providers and consumers p32h's activities include supervising, overseeing, and approving strategic planning for tahmo, thpp, hphc and other entities in the point32health enterprise.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 100
  • Accountability: 100
  • Sustainability: 43
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 6 of 6 controls in place; rating input score 100
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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; 64th 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: -101.7%; rating input score 20; 20th percentile among comparable filings
  • Total-asset coverage ratio: 167.31; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 27; 27th percentile among comparable filings
  • Officer compensation ratio: 12.3%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: -59.2% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: Limited
  • Asset growth: 7.5% per year; rating input score 100; 74th percentile among comparable filings

Details

  • Where the money goes: 0% of spending went to programs
  • Governance: 12 of 12 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $4.6M · 35 people listed · 6 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $5.2M reported
  • Consistency: 24 of 24 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 6 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 24 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 — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Operating margin scored 20/100.
  • High — Sustainability: Officer compensation ratio scored 15/100.
  • High — Sustainability: Liabilities to assets ratio scored 27/100.