Civic Intelligence

Healthnet Inc

EIN 35-1579827 • 501(c)3 • Indianapolis, IN

Profile

The mission of HealthNet, Inc. is to improve lives with compassionate health care and support services, regardless of ability to pay.

3908 Meadows Drive 2nd FloorIndianapolis, IN 46205

www.indyhealthnet.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

74th percentile

0.54x

Higher debt load relative to assets than 74% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Liabilities / Revenue

46th percentile

0.29x

Higher debt load relative to revenue than 46% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Net Margin

36th percentile

0.5%

Higher net margin than 36% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Top Officer Pay

59th percentile

$424,378

Higher top officer pay than 59% of similar nonprofits.

Top officer pay equals 0.5% of source-year revenue.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Asset Growth

25th percentile

-0.4%

Faster asset growth than 25% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Revenue Growth

25th percentile

-2.2%

Faster revenue growth than 25% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Assets

Down

$45,303,591

Down $166,827 (-0.4%) from 2023

Liabilities

Down

$24,475,893

Down $560,048 (-2.2%) from 2023

Net Assets

Up

$20,827,698

Up $393,221 (+1.9%) from 2023

Revenue

Down

$83,684,379

Down $1,847,867 (-2.2%) from 2023

Expenses

Down

$83,291,158

Down $6,112,335 (-6.8%) from 2023

Net Income

Up

$393,221

Up $4,264,468 (+110%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$60M$40M$20M$0-$20MAssets 2010: $19,474,368Liabilities 2010: $10,610,023Net Assets 2010: $8,864,3452010Assets 2011: $25,235,717Liabilities 2011: $12,612,625Net Assets 2011: $12,623,0922011Assets 2012: $25,625,659Liabilities 2012: $14,954,516Net Assets 2012: $10,671,1432012Assets 2013: $26,494,549Liabilities 2013: $18,417,811Net Assets 2013: $8,076,7382013Assets 2014: $27,174,314Liabilities 2014: $17,858,105Net Assets 2014: $9,316,2092014Assets 2015: $28,455,240Liabilities 2015: $18,734,723Net Assets 2015: $9,720,5172015Assets 2016: $26,423,251Liabilities 2016: $29,150,244Net Assets 2016: -$2,726,9932016Assets 2017: $33,762,698Liabilities 2017: $12,517,540Net Assets 2017: $21,245,1582017Assets 2018: $25,119,043Liabilities 2018: $8,521,520Net Assets 2018: $16,597,5232018Assets 2019: $31,677,021Liabilities 2019: $5,223,673Net Assets 2019: $26,453,3482019Assets 2020: $33,908,365Liabilities 2020: $12,350,888Net Assets 2020: $21,557,4772020Assets 2021: $38,369,319Liabilities 2021: $9,728,592Net Assets 2021: $28,640,7272021Assets 2022: $45,218,082Liabilities 2022: $20,760,193Net Assets 2022: $24,457,8892022Assets 2023: $45,470,418Liabilities 2023: $25,035,941Net Assets 2023: $20,434,4772023Assets 2024: $45,303,591Liabilities 2024: $24,475,893Net Assets 2024: $20,827,6982024

Highlighted filing

2024

Assets$45,303,591
Liabilities$24,475,893
Net Assets$20,827,698

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$100M$50M$0-$50MExpenses 2010: $43,187,9372010Expenses 2011: $48,259,0862011Expenses 2012: $50,916,4302012Revenue 2013: $52,137,486Expenses 2013: $54,683,013Net Income 2013: -$2,545,5272013Revenue 2014: $56,433,120Expenses 2014: $55,091,525Net Income 2014: $1,341,5952014Revenue 2015: $59,073,351Expenses 2015: $59,213,458Net Income 2015: -$140,1072015Revenue 2016: $62,018,464Expenses 2016: $64,416,372Net Income 2016: -$2,397,9082016Revenue 2017: $87,233,649Expenses 2017: $63,255,520Net Income 2017: $23,978,1292017Revenue 2018: $59,783,096Expenses 2018: $64,402,918Net Income 2018: -$4,619,8222018Revenue 2019: $72,517,486Expenses 2019: $62,653,768Net Income 2019: $9,863,7182019Revenue 2020: $63,561,257Expenses 2020: $68,483,005Net Income 2020: -$4,921,7482020Revenue 2021: $82,635,929Expenses 2021: $75,861,075Net Income 2021: $6,774,8542021Revenue 2022: $80,784,256Expenses 2022: $84,831,044Net Income 2022: -$4,046,7882022Revenue 2023: $85,532,246Expenses 2023: $89,403,493Net Income 2023: -$3,871,2472023Revenue 2024: $83,684,379Expenses 2024: $83,291,158Net Income 2024: $393,2212024

Highlighted filing

2024

Revenue$83,684,379
Expenses$83,291,158
Net Income$393,221

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$45.3$24.5$20.8$83.7$83.3$0.39
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$45.5$25.0$20.4$85.5$89.4$3.87
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$45.2$20.8$24.5$80.8$84.8$4.05
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$38.4$9.73$28.6$82.6$75.9$6.77
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$33.9$12.4$21.6$63.6$68.5$4.92
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$31.7$5.22$26.5$72.5$62.7$9.86
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$25.1$8.52$16.6$59.8$64.4$4.62
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$33.8$12.5$21.2$87.2$63.3$24.0
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$26.4$29.2$2.73$62.0$64.4$2.40
2015Detailed filing. Detailed filing data is available for this year.$28.5$18.7$9.72$59.1$59.2$0.14
2014Detailed filing. Detailed filing data is available for this year.$27.2$17.9$9.32$56.4$55.1$1.34
2013Detailed filing. Detailed filing data is available for this year.$26.5$18.4$8.08$52.1$54.7$2.55
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.6$15.0$10.7$50.9
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.2$12.6$12.6$48.3
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.5$10.6$8.86$43.2
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 12, 2025
Return Version
2024v5.2
Gross Receipts
$84,023,370
Mission and Program Overview

Mission

The mission of healthnet, inc. Is to improve lives with compassionate health care and support services, regardless of ability to pay.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$11,540,114$11,229,117▼ $310,997
Investments in Publicly Traded Securities$7,813,829$8,168,510▲ $354,681
Accounts Receivable$2,559,413$3,575,818▲ $1,016,405
Savings and Temporary Cash Investments$4,089,568$3,535,056▼ $554,512
Pledges and Grants Receivable$2,084,353$1,507,507▼ $576,846
Prepaid Expenses and Deferred Charges$790,048$749,150▼ $40,898
Cash and Non-Interest-Bearing Accounts$78,678$5,659▼ $73,019
Total Assets$45,470,418$45,303,591▼ $166,827
Other Assets Total$16,514,415$16,532,774▲ $18,359
Liabilities
Other Liabilities$12,559,055$14,312,225▲ $1,753,170
Accounts Payable and Accrued Expenses$6,260,913$5,556,073▼ $704,840
Deferred Revenue$3,427,295$2,439,644▼ $987,651
Mortgage Notes Payable Secured by Investment Property$2,788,678$2,167,951▼ $620,727
Total Liabilities$25,035,941$24,475,893▼ $560,048
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$20,434,477$20,827,698▲ $393,221
Total Net Assets Fund Balance$20,434,477$20,827,698▲ $393,221
Total Liabilities and Net Assets / Fund Balance$45,470,418$45,303,591▼ $166,827

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,852,325$6,084,034$12,936,359
Equipment$1,347,936$8,229,120$9,577,056
Leasehold Improvements$2,325,673$1,525,004$3,850,677
Land$703,183-$703,183
Other Assets Org$11,580,240--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Ricardo DiazPresident & CEOFT$395,213$29,165$424,378
Jana Seitz MdObgyn Med DirectorFT$394,470$26,978$421,448
Varon CantrellChief Medical OfficerFT$346,854$32,656$379,510
Kiersa Durgee MdObgyn HospitalistFT$343,376$35,769$379,145
Mary Trainor MdObgyn HospitalistFT$351,074$27,502$378,576
Emily Bowsher MdObgyn HospitalistFT$330,990$33,503$364,493
Brent Pickett MdObgyn HospitalistFT$259,587$33,901$293,488
Rene KougelPresident/CEO/COOFT$229,234$17,780$247,014
Joseph LackeyChief Financial OfficerFT$200,905$23,477$224,382
Sheila AllenChief Administrative OfficerFT$186,562$16,590$203,152
Kay JohnsonChief Communications and Grants OfficerFT$184,529$11,218$195,747
Kay JohnsonChief Communications and Grants Offi-$181,223$14,524$195,747
Dan WeggChief Compliance OfficerFT$144,538$16,930$161,468
Cynthia BrumbargerInterim Chief External Affairs OfficerFT$106,026$13,025$119,051

Board Members and Trustees

NameTitle
Rob SantaChairperson & President
Terri GarciaImmediate Past Chair
Toby SalyersVice Chairperson
Eli ChavezBoard Member
Kathy ChurchBoard Member
Marcus DebroBoard Member
Nicole BarnesBoard Member
Wade WinglerBoard Member
Wesley FerrellBoard Member
Justin ThangBoard Member - End 5/2024
Maria TishnerSecretary
Tracey GuerreroTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Mckesson Medical-surgical INCMedical SuppliesPO BOX 933027, Atlanta, GA 31193-3027$1,541,606
Mattingl Construction CompanyConstruction10150 LANTERN ROAD, Fishers, IN 46037$1,126,695
Mcgowan Insurance Group INCInsurance711 EAST 65TH ST, Waukegan, IL 60085-8361$578,839
Eclinicalworks LLCIt Services2 TECHNOLOGY DRIVE, Westborough, MA 01581$556,700
Southeast Community Service INCLease901 SHELBY ST, Indianapolis, IN 46203-1151$536,607
Revenue and Support

Revenue Composition

Contributions and Grants
$23,783,278
Program Service Revenue
$59,731,678
Investment Income
$89,260
Other Revenue
$80,163
All Other Contributions
$5,963,764
Change in Net Assets
$393,221

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Drugs and Medical Supplies1$2,666,230Invoice Unit Price
Total Noncash Contributions1$2,666,230-

Audited Revenue Reconciliation

Revenue per Audited Statements
$77,893,198
Revenue Not Reported on Financial Statements
$5,791,181
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$5,791,181
Total Revenue per Audited Statements
$77,893,198
Total Revenue per Form 990
$83,684,379
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$59,804,098
Other Expenses$23,487,060
Total Fundraising Expense$598,042
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$39,574,473$6,249,263$462,866$46,286,602
Other Employee Benefits$4,043,873$2,638,198$67,496$6,749,567
Occupancy$3,359,593$2,439,528-$5,799,121
Fees for Services Other$3,105,916$596,768-$3,702,684
Payroll Taxes$2,098,478$1,207,874$33,398$3,339,750
Current Officers, Directors, Trustees, and Key Employees$1,583,309$351,846$19,547$1,954,702
Pension Plan Contributions$882,805$575,937$14,735$1,473,477
Depreciation Depletion$883,905$209,666-$1,093,571
Office Expenses$765,889$182,918-$948,807
Insurance$676,694$160,515-$837,209
Fees for Services Legal$215,515$215,514-$431,029
Interest-$292,105-$292,105
All Other Expenses-$275,292-$275,292
Travel$129,257$30,871-$160,128
Advertising$101,406$19,484-$120,890
Information Technology$85,410$20,398-$105,808
Fees for Services Accounting-$55,000-$55,000
Other Expenses$81--$81
Total Functional Expenses$67,171,939$15,521,177$598,042$83,291,158

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$83,291,158
Expenses per Audited Statements$77,499,977
Total Expenses per Audited Statements$77,499,977
Expenses Not Reported on Financial Statements$5,791,181
Other Expense Adjustments$5,791,181
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Right of Use Liability$11,812,115
Pass-through Funds Payable$2,500,000
Due to Hn Foundation$110
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The process of reviewing the form 990 entails a detailed review by the organization's chief financial officer and chief executive officer. The governing body receives an electronic or paper copy of the form 990 including requested schedules, as ultimately filed with the irs, prior to filing with the irs.

Form 990, Part VI, Section B, Line 12C

The written conflict of interest policy is regularly and consistently monitored and compliance is enforced by the board membership committee for board members and the compliance officer for healthnet leadership staff. The scope of this policy includes all leadership staff and board members. The policy is in place to ensure that any transactions with relatives or outside business relationships in which staff or board member are also affiliated with is reported. Any gifts or transactions over $75 with companies or individuals that the organization may do or does business with must be reported. Board members must disclose any potential conflict of interest and abstain from voting on issues related to those interests. The covered persons are to refrain from profiting from the organization through their decisions or to influence others, and to refrain from acceptance of gifts of any kind. A self disclosure form is completed annually by leadership staff and board members, and it is required that any potential conflicts of interest are disclosed. The covered persons are to recues from participating in any deliberation or decisions on such transactions. The board membership committee and healthnet compliance officer review the completed conflict of interest forms.

Form 990, Part VI, Section B, Line 15

Healthnet's board is responsible to hire and annually evaluate the president. The board may also review compensation studies from the national association of community health centers and other publications of relevance to adjust the ceo compensation in order to be market competitive.

Form 990, Part VI, Section C, Line 19

Healthnet, inc. Makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Healthnet Inc
EIN
35-1579827
Phone
3179572000
Address
3908 MEADOWS DRIVE 2ND FLOOR, INDIANAPOLIS, IN 46205

Signing Officer

Name
Joseph Lackey
Title
CFO
Phone
3179572013
Signed
2025-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joseph Lackey
Formed
1983
Legal Domicile
In
Voting Board Members
11
Independent Board Members
11
Employees
872
Volunteers
11

Preparer

Firm
Blue & Co LLC
Address
500 N MERIDIAN ST SUITE 200, INDIANAPOLIS, IN 46204
Preparer
Emilie M Knieriem CPA
Phone
3176334705
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 2C, OVERSIGHT OF AUDIT:

The audit committee assumes responsibility for oversight of the audit of the financial statements and selection of the independent accountant; no processess have changed from prior year.

Financial Statement Notes

PART X, LINE 2:

Footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under fin 48 superseded by asc 740-10: accounting principles generally accepted in the united states of america require management to evaluate tax positions taken by healthnet and recognize a tax liability if healthnet has taken an uncertain position that more likely than not would not be sustained upon examination by various federal and state taxing authorities. Management has analyzed the tax positions taken by healthnet and has concluded that as of december 31, 2024 and 2023, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the accompanying consolidated financial statements. Healthnet is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

340b expenses netted with revenue 5,791,181.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

340b expenses netted with revenue 5,791,181.

Raw XML AppendixShowing 400 of 942 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt06260913
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt05556073
IRS990/AccountsReceivableGrp/BOYAmt02559413
IRS990/AccountsReceivableGrp/EOYAmt03575818
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0THE MISSION OF HEALTHNET, INC. IS TO IMPROVE LIVES WITH COMPASSIONATE HEALTH CARE AND SUPPORT SERVICES, REGARDLESS OF ABILITY TO PAY.
IRS990/AddressChangeInd0X
IRS990/AdvertisingGrp/ManagementAndGeneralAmt019484
IRS990/AdvertisingGrp/ProgramServicesAmt0101406
IRS990/AdvertisingGrp/TotalAmt0120890
IRS990/AllOtherContributionsAmt05963764
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IRS990/AllOtherExpensesGrp/TotalAmt0275292
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IRS990/BooksInCareOfDetail/PersonNm0JOSEPH LACKEY
IRS990/BooksInCareOfDetail/PhoneNum03179572683
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IRS990/BooksInCareOfDetail/USAddress/CityNm0INDIANAPOLIS
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0IN
IRS990/BooksInCareOfDetail/USAddress/ZIPCd046205
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IRS990/ChangeToOrgDocumentsInd00
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IRS990/CollectionsOfArtInd00
IRS990/CompCurrentOfcrDirectorsGrp/FundraisingAmt019547
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IRS990/CompCurrentOfcrDirectorsGrp/ProgramServicesAmt01583309
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt01954702
IRS990/CompensationFromOtherSrcsInd00
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IRS990/CompensationProcessOtherInd01
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IRS990/ConservationEasementsInd00
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IRS990/ContractorCompensationGrp/CompensationAmt2578839
IRS990/ContractorCompensationGrp/CompensationAmt3556700
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IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm0ATLANTA
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IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt3ECLINICALWORKS LLC
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt4SOUTHEAST COMMUNITY SERVICE INC
IRS990/ContractorCompensationGrp/ServicesDesc0MEDICAL SUPPLIES
IRS990/ContractorCompensationGrp/ServicesDesc1CONSTRUCTION
IRS990/ContractorCompensationGrp/ServicesDesc2INSURANCE
IRS990/ContractorCompensationGrp/ServicesDesc3IT SERVICES
IRS990/ContractorCompensationGrp/ServicesDesc4LEASE
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt023783278
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt089260
IRS990/CYOtherExpensesAmt023487060
IRS990/CYOtherRevenueAmt080163
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IRS990/Desc0HEALTHNET, INC. PROVIDES PRIMARY MEDICAL CARE AT VARIOUS SITES IN THE CITY OF INDIANAPOLIS INCLUDING: BARRINGTON HEALTH CENTER, SOUTHEAST HEALTH CENTER, SOUTHWEST HEALTH CENTER, PEOPLE'S HEALTH CENTER, MARTINDALE-BRIGHTWOOD HEALTH CENTER, DOWNTOWN HEALTH CENTER, SPEEDWAY HEALTH CENTER, AND NORTHEAST HEALTH CENTER. IN 2024, HEALTHNET, INC. PROVIDED 154,582 PATIENT CARE MEDICAL VISITS TO 53,378 MEDICAL PATIENTS, 34,755 DENTAL VISITS TO 10,144 DENTAL PATIENTS, AND 32,790 BEHAVIORAL HEALTH VISITS TO 6,415 PATIENTS. IN 2024, HEALTHNET OB/GYNS AND CERTIFIED NURSE MIDWIVES DELIVERED 1,154 BABIES AND DELIVERED PRENATAL CARE TO 1,436 WOMEN.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIRPERSON & PRESIDENT
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IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER - END 5/2024
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IRS990/Form990PartVIISectionAGrp/TitleTxt19INTERIM CHIEF EXTERNAL AFFAIRS OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt20OBGYN HOSPITALIST
IRS990/Form990PartVIISectionAGrp/TitleTxt21OBGYN MED DIR
IRS990/Form990PartVIISectionAGrp/TitleTxt22OBGYN HOSPITALIST
IRS990/Form990PartVIISectionAGrp/TitleTxt23OBGYN HOSPITALIST
IRS990/Form990PartVIISectionAGrp/TitleTxt24OBGYN HOSPITALIST
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IRS990/MissionDesc0THE MISSION OF HEALTHNET, INC. IS TO IMPROVE LIVES WITH COMPASSIONATE HEALTH CARE AND SUPPORT SERVICES, REGARDLESS OF ABILITY TO PAY.
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