Understanding the Financial Operations of Horizon Health Services through the 990 Form

Understanding the Financial Operations of Horizon Health Services through the 990 Form

As a non-profit organization, Horizon Health Services (HHS) operates under different financial regulations than a for-profit company. To understand how HHS uses its funds, it is important to take a closer look at its 990 form, which provides information on the organization’s activities, board members, and financial statements.

The Form 990 is a publicly available tax document filed annually by non-profit organizations with the Internal Revenue Service (IRS). It contains information on the organization’s finances, including revenue and expenses, assets and liabilities, and executive compensation. The form also provides an overview of the non-profit’s mission and programs.

In the case of HHS, its 990 form provides a detailed insight into the organization’s spending and activities. For example, HHS’s 2019 990 form shows that the organization had total revenue of over $115 million and total expenses of nearly $114 million, leaving a surplus of just over $1 million. This surplus was due to HHS receiving a larger grant from the New York State Office of Alcoholism and Substance Abuse Services (OASAS) than anticipated.

HHS’s 990 form also provides information on the organization’s board of directors, which includes several community leaders and medical professionals. The form also shows that the highest-paid executive at HHS received just over $282,000 in compensation in 2019. This compensation is reasonable compared to the salaries of executives at other non-profit organizations in the healthcare industry.

One of the most important aspects of HHS’s 990 form is the breakdown of its expenses. The form shows that the largest expense category for HHS is salaries and benefits for its employees, which accounted for nearly 80% of the organization’s total expenses in 2019. Other major expense categories include rent, supplies, and professional services.

Another interesting aspect of HHS’s 990 form is the breakdown of its program expenses. The form shows that HHS spent nearly $104 million on program expenses in 2019, which includes the cost of operating its outpatient centers, residential treatment facilities, and support services. This information is important for donors and stakeholders to understand how their contributions are being used to support the organization’s mission.

In conclusion, the 990 form is a valuable resource for understanding the financial operations of a non-profit organization like Horizon Health Services. By analyzing the form, supporters and stakeholders can gain insights into how the organization uses its funds to support its mission and programs. The 990 form is also an important accountability tool, allowing the public to see how non-profit organizations use their donations and government grants.