The Importance of Understanding Health New England 990

The Importance of Understanding Health New England 990

In the United States, the Internal Revenue Service (IRS) requires all non-profit organizations to file an annual information return, which includes financial and programmatic information. The form used for this purpose is called the Form 990, and it must be made available to the public upon request. Health New England (HNE) is a non-profit health plan serving the residents of Massachusetts and Connecticut. It too must file a Form 990 each year, and it’s important for anyone interested in the organization’s activities to understand this document.

To begin with, the Form 990 provides valuable information about HNE’s governance and management. It includes the names and titles of the organization’s officers and directors, as well as its key employees and independent contractors. It also lists the compensation of these individuals, which is important for understanding how much the organization is spending on its leadership. In addition, the Form 990 reports on any transactions between HNE and its officers, directors, or key employees, which can help identify any potential conflicts of interest.

Another important section of the Form 990 is the financial information. This includes details about HNE’s revenue and expenses, as well as its assets and liabilities. This information is essential for understanding the organization’s financial health and its ability to continue serving its members. It can also reveal any significant fluctuations in revenue or expenses that may require further investigation. For example, if HNE reports a significant increase in its advertising expenses, it may be worth asking why this increase occurred and whether it’s sustainable in the long term.

The Form 990 also includes a section on HNE’s activities and accomplishments during the year. This is where the organization reports on its programs and services, as well as any accomplishments or challenges it faced during the year. This section can provide insights into the organization’s priorities and goals, as well as its successes and challenges. For example, if HNE reports a significant increase in the number of members enrolled in its chronic care management program, it may demonstrate the organization’s commitment to preventative care and population health management.

In conclusion, understanding the Form 990 filed by Health New England is essential for anyone with an interest in the organization’s activities. It provides valuable information about the organization’s governance, financial health, and accomplishments during the year. By reviewing this document, stakeholders can gain insights into HNE’s priorities and goals, as well as its successes and challenges. This type of information can help stakeholders make informed decisions about their relationship with the organization, whether they are members, providers, or community partners.

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