Healthnet Inc

Analysis

Healthnet Inc is a registered charity in United States, based in Indianapolis, IN. It received its IRS tax-exemption ruling in September 1984, 42 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Healthnet Inc reported income of $85.5m and spending of $89.4m, spending 105% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $72.5m to $85.5m (+18%), an average of +4.2% a year. The sharpest change came in the year to December 2021, when income rose by 30%. Over the whole period it spent 99% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Healthnet Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within IN. Charities of a similar size with the same main cause include Mount Desert Island Hospital ($85.5m), Walnut Home Therapeutics Inc ($85.5m) and St John Providence ($85.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 30% and program service revenue 69% of the total. Compensation of current officers, directors and key employees was $2.3m (2.6% of expenses). Other salaries and wages came to $47.9m. At year end it held assets of $45.5m against liabilities of $25.0m, net assets of $20.4m. It reported 909 employees.