Overview
What is First Choice Cooperative?
First Choice Cooperative is a cooperative organization, established with the primary purpose of offering centralized purchasing services for tax-exempt hospitals. This cooperative operates on a cooperative basis, where all net earnings are allocated or paid back to the hospitals, proportionate to the services rendered to them within 8 1/2 months following the taxable year. The cooperative's activities are based in Tyler, Texas, with its main address being PO Box 131000. The centralized purchasing services provided by First Choice Cooperative aim to improve efficiency and cost-effectiveness for the affiliated hospitals.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 64%, Two-Star out of Four Star rating.
First Choice Cooperative has received a Two-Star rating from Charity Navigator, indicating a mixed performance in terms of accountability and financial health. Its overall score of 64% reflects strong organizational governance with 100% independent board members and comprehensive policies in place, including conflict of interest and whistleblower protections. However, the charity has significant shortcomings, particularly in transparency, as it did not provide financial statements or post crucial documents like its tax form on its website.
The organization scored well in areas such as material diversion of assets, indicating no issues in that regard. Additionally, it maintains a solid program expense ratio of 100%, which suggests that all its expenditures are directed toward its programs. While this indicates effective use of funds, the lack of accessible financial documentation raises concerns about transparency and accountability.
Overall, while First Choice Cooperative demonstrates strengths in governance and program expense management, its failure to disclose vital financial information undermines its credibility. Potential donors may want to consider these factors when evaluating the organization for support.
This AI summary has been generated from information found on Charity Navigator.
Is First Choice Cooperative legitimate?
First Choice Cooperative is a legitimate nonprofit organization registered as a 501(c)(3) entity. First Choice Cooperative 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:
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What is the mission statement of First Choice Cooperative?
First Choice Cooperative is a cooperative organization established with the objective of providing centralized purchasing services for tax-exempt hospitals. Its mission is to offer these services on a cooperative basis, with the net earnings being allocated or paid back to the hospitals based on the services they have utilized within a specific timeframe. The cooperative aims to streamline the purchasing process for the group of tax-exempt hospitals, thereby potentially benefiting them financially and operationally.
Who is the CEO of First Choice Cooperative?
Byron Hale is the Director of First Choice Cooperative.
What is the revenue of First Choice Cooperative?
First Choice Cooperative's revenue in 2022 was $649,587.
Who are the executives of First Choice Cooperative and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for First Choice Cooperative?
First Choice Cooperative's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of First Choice Cooperative
First Choice Cooperative, as a cooperative organization, was established with a mission to provide centralized purchasing services for tax-exempt hospitals. Its primary goal is to offer these services on a cooperative basis, ensuring that all net earnings are allocated or paid to the hospitals based on the services performed for them within eight and a half months following the close of the taxable year. In simpler terms, First Choice Cooperative serves as a collective purchasing platform for tax-exempt hospitals, aiming to maximize savings and efficiencies by pooling their purchasing power. This mission allows these hospitals to focus on their core services while benefiting from the cooperative's centralized procurement services.
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Impact
July, 2024
First Choice Cooperative's impact is seen through the centralized purchasing services it provides for tax-exempt hospitals. By offering these services on a cooperative basis, the organization helps hospitals streamline their purchasing processes and potentially save costs. This leads to increased efficiency in procurement and resource management for participating hospitals, ultimately benefiting their operations and the healthcare services they provide to communities.
This information is meant to be a general summary of First Choice Cooperative. 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.
- Program Service Revenue: $649,587
- Gross Receipts: $649,587
Assets and Liabilities:
- Total Assets: $509,369
- Total Liabilities: $509,369
- Net Assets: $0
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
OPERATING REVENUE
Revenue
$649,587
Organization Details
Founding Year
1995
Phone
(903) 531-8010Principal Officer
Byron Hale
Main Address
PO BOX 131000, TYLER, TX, 75713
NTEE Category
Code: E21Z - Health
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