Emblemhealth Inc

The information for Emblemhealth Inc is as of the organization's most recent filing in December '21. This organization is located in New York, NY. It has been in existence for 24 years, following its founding in 1997.

Organization Classification

The IRS classifies organizations according to the National Taxonomy of Exempt Entities (NTEE) system. The NTEE system helps the IRS assign a 3-character code to each organization to describe the organization's activities.

Emblemhealth Inc's NTEE code is Y42. The "Y" tells us that the organization is classified along with Domestic Fraternal Societies. The "42" tells us that the organization is a Mutual & Membership Benefit organization. The NTEE describes Domestic Fraternal Societies as organizations operating under the lodge system that devote their earnings to fraternal, religious, charitable, or other services. This code is used exclusively for organizations exempt from federal taxes under 501(c)(10) of the Internal Revenue Code.

Every organization is also governed by a specific section of the Internal Revenue Code. The most common type is a 501(c)(3) organization. However, there are actually 29 different types of organizations that are identified by the Internal Revenue Code. This organization happens to be a 501(c)(3) organization. The IRS describes these organizations as those engaged in Religious, Educational, Charitable, Scientific, Literary, Public Safety, Amateur Sports, or Prevention of Cruelty to Children or Animals work.

Perhaps the most accurate way to get a sense of what the organization hopes to achieve is by looking at its mission. The mission of Emblemhealth Inc is to support the tax-exempt mission of HIPNY. Emblemhealth Inc operates as a holding company that supports the tax-exempt healthcare mission of its supported organization, Health Insurance Plan of Greater New York.

Program Areas

EmblemHealth's tax-exempt mission is to support the healthcare activities of its supported organization, Health Insurance Plan of Greater New York. All expenses incurred by EmblemHealth, Inc. are program service expenditures for purposes of Part IX of the Form 990.

Board Governance

Emblemhealth Inc, the provided non-profit organization, appears to be well-governed based on the information provided. With 14 voting members, including 12 independent members, the organization demonstrates a commitment to diversity and impartial decision-making. The absence of potential conflicts of interest further strengthens the organization's governance structure, ensuring that decisions are made in the best interest of the non-profit's mission and beneficiaries. The fact that the organization has not delegated management to an outside firm suggests that Emblemhealth Inc retains direct control over its operations, allowing for greater transparency and accountability. Additionally, the documentation of board meetings and committee meetings indicates a commitment to maintaining records and ensuring that decision-making processes are well-documented. Emblemhealth Inc's conflict of interest policy, disclosure requirements, and written whistleblower policy demonstrate a commitment to ethical practices and the prevention of misconduct. The organization's document retention policy further ensures that important records are properly maintained. However, it is worth noting that the organization does not substantiate and review leadership salaries or officer's salaries, which may raise questions about the level of oversight in these areas. Overall, Emblemhealth Inc exhibits several key governance practices that contribute to its effective operation as a non-profit organization. The organization's commitment to transparency, accountability, and ethical conduct, as evidenced by its policies and documentation practices, suggests a well-governed entity.

Grant History

Our dataset includes one year of grant history for Emblemhealth Inc. In this year, they have awarded a total of four grants, with an average check size of $23,031. All four grants were awarded in the Mutual & Membership Benefit sector. Additionally, the organization predominantly awards grants in the state of New York (3) and Maryland (1).

Organization Growth

Based on the provided data, it can be observed that Emblemhealth Inc, a nonprofit organization, has experienced a decrease in several key financial aspects over the given time period. The program service revenue decreased from $1.9 million in 2014 to $1.8 million in 2021. Additionally, the total revenue decreased from $1.9 million in 2014 to -$630,046 in 2021. Employee salaries also decreased from $2.2 million in 2014 to $1.6 million in 2021. Furthermore, total expenses decreased from $1.9 million in 2014 to $1.8 million in 2021. However, it is worth noting that grants paid by the organization increased from $14.8 thousand in 2014 to $102.1 thousand in 2021. Overall, considering the decreasing trends in program service revenue, total revenue, employee salaries, and total expenses, it can be concluded that Emblemhealth Inc has not grown over the given time period.