Healthcare Financial Management Association

Nonprofit profile at a glance

EIN
362318336
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Downers Grove, IL, USA
Phone
7085319600
Rating confidence
Limited

Official website

Reported finances

Revenue
$24,594,465
Expenses
$24,344,764
Assets
$25,051,185
Liabilities
$16,740,393

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

23 people listed

Executive titles in this filing

  • C Ann Jordan (President & CEO)
  • Steve Saldivar (Vice President & CFO)

Highest reported compensation

  • C Ann Jordan (President & CEO): $781,795 total reported compensation
  • William Casey SVP Member (Experience & Bus Dev until 5/31/24): $654,925 total reported compensation
  • Richard Gundling (SVP, Healthcare Financial Practices): $645,617 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Leading the financial management of health care.

What it reported doing in 2024

Membership - Healthcare Financial Management Association's (HFMA) goal is to improve the financial management of US healthcare institutions and related healthcare organizations through fostering knowledge and proficiency, providing a forum for exchange of ideas and best practices, strengthening cooperation among those in the profession, and establishing and promulgating principles of practice and standards of performance. Through 59 chapters and 11 regions, HFMA's 136,946 members have opportunities for education, sharing of common experiences, and keeping up to date on legislative and regulatory changes. These venues also provide for networking exchanges that build relationships that further professional careers and create personal, long-lasting friendships that span the US geography.

Operating model

Revenue model
Other-operating. 96% of the money available for current operations came from other operating revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 94
  • Accountability: 95
  • Sustainability: 32
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 92.3%; rating input score 92; 25th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 1%; rating input score 38; 38th percentile among comparable filings
  • Total-asset coverage ratio: 1.03; rating input score 37; 37th percentile among comparable filings
  • Liabilities to assets ratio: 0.67; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: 15.1%; rating input score 8; 8th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 1.5% per year; rating input score 100; 15th percentile among comparable filings
  • Asset growth: 0.2% per year; rating input score 100; 11th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 12 of 13 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $782K · 23 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $2.3M reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 4 filed schedules · includes executive pay and related organizations
  • Filing history: 9 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 11 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Sustainability: Operating margin scored 38/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 37/100.
  • High — Sustainability: Officer compensation ratio scored 8/100.
  • High — Sustainability: Liabilities to assets ratio scored 19/100.