Overview
What is Caresource Kentucky Co?
Caresource Kentucky Co, also known as CSKY, is a nonprofit organization based in Dayton, Ohio. Established under the Commonwealth of Kentucky, CSKY was granted the authorization to operate as a Health Maintenance Organization (HMO) by the Kentucky Department of Insurance. In 2016, the Internal Revenue Service recognized CSKY as a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code. Caresource Kentucky Co is a part of the CareSource Group of nonprofits. Their mission is to make a lasting difference in their members' lives by enhancing their health and overall well-being. The organization's vision is to transform lives through innovative health and life services.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Stars)
Caresource Kentucky Co has received a rating of two stars from Charity Navigator, indicating that the organization is in need of improvements, especially in governance and transparency. While the overall score sits at 70%, the lack of independent board members raises concerns about the oversight and decision-making processes within the organization. Transparency is further impacted by missing important documentation on their website, such as the tax form, which violates best practices for nonprofit governance.
On a positive note, Caresource Kentucky Co demonstrates strong fiscal responsibility with a program expense ratio of 85.21%, indicating that a significant portion of their funds is directed toward their programs rather than administrative costs. They also have a commendable audit and oversight committee in place, contributing to their low risk of material diversion of assets. Additionally, policies regarding conflict of interest and whistleblowing are properly documented.
Despite these strengths, the organization's lack of independent board oversight and transparency issues are significant limitations that could hinder its reputation and effectiveness in serving its mission. Addressing these concerns may help improve their rating and overall impact in the community.
This AI summary has been generated from information found on Charity Navigator.
Is Caresource Kentucky Co legitimate?
Caresource Kentucky Co is a legitimate nonprofit organization registered as a 501(c)(3) entity. Caresource Kentucky Co submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Caresource Kentucky Co?
Caresource Kentucky Co is a nonprofit organization dedicated to making a significant impact on the health and well-being of its members. Their mission is to create lasting differences in people's lives through innovative health and life services. By focusing on improving the health and well-being of their members, Caresource Kentucky Co aspires to transform lives. As a nonprofit HMO licensed in Kentucky, they operate under the vision to make a meaningful impact on the community they serve. Their tax-exempt status, recognized by the Internal Revenue Service, reinforces their commitment to bettering the lives of those they serve.
Who is the CEO of Caresource Kentucky Co?
Erhardt Preitauer is the President & Ceo of Caresource Kentucky Co. The CEO's salary of Caresource Kentucky Co is $0 and their total compensation is $7,910,538.
What is the revenue of Caresource Kentucky Co?
Caresource Kentucky Co's revenue in 2022 was $233,440,176.
Who are the executives of Caresource Kentucky Co and what are their salaries?
Here are 9 key members and their salaries (Caresource Kentucky Co's CEO's salary is $0 and their total compensation is $7,910,538):
- Compensation: $0
- Related: $3,656,889
- Other: $4,253,649
- Compensation: $0
- Related: $1,235,514
- Other: $871,311
- Compensation: $0
- Related: $1,072,888
- Other: $998,867
- Compensation: $0
- Related: $966,866
- Other: $950,975
- Compensation: $0
- Related: $1,505,969
- Other: $14,895
- Compensation: $0
- Related: $524,391
- Other: $577,351
- Compensation: $0
- Related: $567,970
- Other: $450,179
- Compensation: $0
- Related: $524,895
- Other: $22,301
- Compensation: $0
- Related: $194,579
- Other: $0
Where can I find the form 990 for Caresource Kentucky Co?
Caresource Kentucky Co's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Caresource Kentucky Co
Caresource Kentucky Co, a nonprofit organization, is committed to making a significant difference in the lives of its members by enhancing their health and well-being. With a mission rooted in compassion and innovation, this HMO strives to transform lives through exceptional health and life services.
Established under the auspices of the Commonwealth of Kentucky, Caresource Kentucky Co has been granted the authorization to function as a Health Maintenance Organization. This designation enables the organization to provide comprehensive health services to its members, ensuring they receive the care they need to improve their overall well-being. In recognition of its commitment to serving the community, the Internal Revenue Service granted Caresource Kentucky Co tax-exempt status under Section 501(c)(3) of the Internal Revenue Code.
As a valued member of the CareSource Group, Caresource Kentucky Co upholds the highest standards of care and compassion. Its unwavering dedication to its members' health and well-being is the driving force behind its mission to make a lasting impact on their lives. By leveraging innovative health and life services, Caresource Kentucky Co empowers its members to take charge of their health and reach their full potential.
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Impact
October, 2024
CareSource Kentucky Co. makes a significant impact on the health and well-being of its members by focusing on access to comprehensive healthcare services. By operating as a Health Maintenance Organization (HMO) licensed in Kentucky, CareSource Kentucky provides essential resources that promote healthier lifestyles and better health outcomes.
Their mission emphasizes not just immediate care but also long-term improvements in members' lives. Through innovative health and life services, CareSource Kentucky aims to transform the healthcare experience, ensuring that members receive both preventive care and treatment when necessary.
The organization is dedicated to creating a supportive environment that fosters wellness, moving beyond traditional healthcare delivery to implement programs and services tailored to the unique needs of the community. This focus allows CareSource Kentucky to play a pivotal role in addressing health disparities and enhancing the quality of life for its members.
This information is meant to be a general summary of Caresource Kentucky Co. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $723,427
- Program Service Revenue: $232,716,749
- Gross Receipts: $233,440,176
Assets and Liabilities:
- Total Assets: $65,144,241
- Total Liabilities: $39,986,643
- Net Assets: $25,157,598
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
STATE HEALTH INSURANCE EXCHANGE
Revenue
$232,548,073
MEDICARE ADVANTAGE
Revenue
$125,910
MEDICAID
Revenue
$42,766
Organization Details
Founding Year
2014
Phone
(937) 224-3300Principal Officer
Erhardt Preitauer
Main Address
PO Box 8738, Dayton, OH, 454018738
NTEE Category
Code: E21 - Health
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