Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: Medicare Advantage revenue

  total $736,966,567 · related or exempt $736,966,567

• 3 · Investment income

  total $6,220,647 · excluded $6,220,647

• 7a · Gross sales of assets other than inventory

  securities $20,183,260

• 7b · Less cost or other basis and sales expenses

  securities $17,524,539

• 7c · Gain or loss

  securities $2,658,721

• 7d · Net gain or loss

  total $2,658,721 · excluded $2,658,721

Functional expenses

Part IX, the statement of functional expenses.

• 7 · Other salaries and wages

  total $3,988,184 · program services $3,988,184

• 8 · Pension plan contributions

  total $182,949 · program services $182,949

• 9 · Other employee benefits

  total $517,138 · program services $517,138

• 10 · Payroll taxes

  total $285,257 · program services $285,257

• 11a · Fees: management

  total $42,208,575 · program services $14,343,003 · management and general $27,865,572

• 11f · Fees: investment management

  total $348,890 · management and general $348,890

• 11g · Fees: other

  total $4,928,669 · program services $4,928,669

• 12 · Advertising and promotion

  total $4,107,285 · program services $4,107,285

• 13 · Office expenses

  total $1,026,814 · program services $1,026,814

• 14 · Information technology

  total $5,770 · program services $5,770

• 17 · Travel

  total $10,910 · program services $10,910

• 19 · Conferences, conventions and meetings

  total $60,071 · program services $60,071

• 24a · Other expenses: Pharmacy/medical care

  total $727,164,853 · program services $727,164,853

• 24b · Other expenses: Claims administration

  total $9,753,940 · program services $9,753,940

• 24c · Other expenses: Broker fees

  total $9,138,108 · program services $9,138,108

• 24d · Other expenses: Medical incentives

  total $1,897,025 · program services $1,897,025

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $72,317,878 · end of year $26,860,218

• 2 · Savings and temporary cash investments

  beginning of year $16,307,250 · end of year $2,771,426

• 4 · Accounts receivable

  beginning of year $47,352,231 · end of year $52,736,377

• 11 · Investments: publicly traded securities

  beginning of year $52,510,311 · end of year $53,736,685

• 15 · Other assets

  beginning of year $3,002,793 · end of year $85,704,471

• 17 · Accounts payable and accrued expenses

  beginning of year $95,401,278 · end of year $126,713,826

• 27 · Net assets without donor restrictions

  beginning of year $96,089,185 · end of year $95,095,351

The filer's explanations (Part III)

Part I, Line 3

All officers of Martin's Point Generations Advantage, Inc., including the President, are compensated by a related organization, Martin's Point Health Care, Inc. (MPHC). Each year, MPHC's compensation committee, which is comprised of independent board members, works with an independent health care compensation consulting firm to obtain third-party market data for positions that are functionally comparable to those held by MPHC executives in organizations of comparable size based on net revenue and/or health plan membership. This data, as well as the consultant's report showing where MPHC executives fall in relation to the market data, is reviewed by the committee prior to determining compensation adjustments for MPHC's chief executive officer and other executives. The committee's deliberations in this regard are documented in its meeting minutes.

Part I, Line 4b

All officers of Martin's Point Generations Advantage, Inc., including the President, are compensated by a related organization, Martin's Point Health Care, Inc. (MPHC). Martin's Point Health Care, Inc. (the "Company"), established a Supplemental Executive Retirement Plan (the "Plan"), effective as of January 1, 2020, in order to help the Company recruit and retain highly qualified executives and reward them for their contributions to the success of the Company. The Plan is intended to constitute an unfunded plan maintained primarily for the purpose of providing deferred compensation to a select group of management or highly compensated employees, within the meaning of Sections 201(2), 301(a)(3), and 401(a)(1) of Employee Retirement Income Security Act of 1974, as amended ("ERISA"). The Plan is intended to be exempt from Section 409A of the Internal Revenue Code of 1986, as amended (the "Code"), by reason of the short-term deferral exception described in Treasury Regulations Section 1.409A-1(b)(4). The Plan shall be administered in a manner that is consistent with such intent and consistent with the requirements of Section 457(f) of the Code regarding the taxation of deferred compensation. Non-qualified plan compensation was accrued in 2023 and paid out as taxable compensation in 2024 to certain plan participants. However, no persons who are listed on Martin's Point Generations Advantage's 2024 Form 990, Part VII, receivable taxable 457(f) Plan distributions. However, the following persons did receive funding and contributions to their 457(f) Plans in the 2024 tax year: - Paul F. Kasuba, MD: $200,839 - Amanda Jackson: $69,118 - David Howes, $184,317 Funding and contributions to these individuals' 457(F) Plans are included in the amounts reported on this Schedule J, Part II, Column C.

Form 990, Part VII, Section A, Line 5:

David Currier is a non-voting member of the board of directors serving as an officer in the role of secretary. Mr. Currier bills for his time spent devoted to his duties on the board of directors through his law firm. In 2024, Martin's Point Health Care, Inc. paid Mr. Currier's law firm $48,181 for his services rendered to Martin's Point Health Care, Inc. and its affiliate, Martin's Point Generations Advantage, Inc. during the year. In accordance with IRS instructions, this has been reported in Form 990, Part VII as reportable compensation to Mr. Currier as if it were paid directly to him from Martin's Point Health Care, Inc.