Priority Health Choice Inc
- Assets
- $424.0m
- Revenue
- $1.2b
- Investments
- $0.0
- Employees
- 0
- Location
- Grand Rapids, MI
- Founding
- 07/2005
- Data as of
- 12/2022
- EIN
- 32-0016523
Organization Overview
Priority Health Choice Inc is located in Grand Rapids, MI. The organization was established in 2005. According to its NTEE Classification (E31) the organization is classified as: Group Health Practices, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Priority Health Choice Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Priority Health Choice Inc generated $1.2b in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.3% each year . All expenses for the organization totaled $1.1b during the year ending 12/2022. While expenses have increased by 12.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE HEALTH, INSTILL HUMANITY AND INSPIRE HOPE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SECHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Praveen Thadani Director/president | OfficerTrustee | 5 | $0 |
James Forshee MD Director | Trustee | 6 | $0 |
Kimberly Thomas Director/secretary | OfficerTrustee | 6 | $0 |
Michael Jasperson Director | Trustee | 6 | $0 |
Chris Crook Former Key Employee | 6 | $0 | |
Nicholas Gates Director/vice Chair/treasurer | OfficerTrustee | 6 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Delta Dental Plan Of Michigan Dental Benefit Mgr | 12/30/22 | $10,067,811 |
Solutran Inc Pharmacy Admin | 12/30/22 | $3,401,212 |
Express Scripts Insurance Company Pharm Benefit Mgr | 12/30/22 | $2,587,940 |
Carriers Tpa Llc Dental Benefit Mgr | 12/30/22 | $2,119,385 |
Swiss Re Life Health America Reinsurance | 12/30/22 | $1,522,223 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,160,407,196 |
| Investment income | $6,719,588 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $10,751 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,167,137,535 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $933,673,749 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $26,662,017 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,885,304 |
| Payroll taxes | $1,708,840 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,975 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $69,173 |
| Fees for services: Other | $11,589,338 |
| Advertising and promotion | $3,177,969 |
| Office expenses | $1,074,951 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $931,963 |
| Travel | $87,899 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $858,002 |
| Insurance | $205,198 |
| All other expenses | $148,975 |
| Total functional expenses | $1,101,244,628 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $153,941,851 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $79,672,334 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $181,581,814 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,811,388 |
| Total assets | $424,007,387 |
| Accounts payable and accrued expenses | $180,426,002 |
| Grants payable | $0 |
| Deferred revenue | $1,237,353 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $15,372,270 |
| Total liabilities | $197,035,625 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $10,000 |
| Paid-in or capital surplus, or land, building, or equipment fund | $12,326,877 |
| Retained earnings, endowment, accumulated income, or other funds | $214,634,885 |
| Total liabilities and net assets/fund balances | $424,007,387 |