Healthcare Information and Management Systems Society Foundation

Nonprofit profile at a glance

EIN
364008359
IRS 990 coverage
2011–2022
Forms available
Form 990 2022
Location
Chicago, IL, USA
Phone
3126644467
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$32,837
Expenses
$573,731
Assets
$610,986
Liabilities
$871,444

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

15 people listed

Executive titles in this filing

  • HAROLD WOLF III (CEO & PRESIDENT)
  • THOMAS LEARY (EXECUTIVE DIRECTOR)

Highest reported compensation

  • HAROLD WOLF III (CEO & PRESIDENT): $1,336,616 total reported compensation
  • NIKKI BROWN (INTERIM CFO (THRU 12/31/22)): $261,622 total reported compensation
  • THOMAS LEARY (EXECUTIVE DIRECTOR): $232,139 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Himss foundation is an Illinois not-for-profit corporation organized and operated exclusively for charitable, scientific or educational purposes within the meaning of section 501(c)(3) of the internal revenue code of 1986. Himss foundation serves as the philanthropic arm of himss, providing support and assistance to the organization, its members and the industry through:- financial assistance (scholarships) to students in healthcare-it related fields-providing access for students to the dorenfest institute database- providing financial relief/assistance for special need-based program issues

What it reported doing in 2022

Himss foundation has a scholarship program for students in various areas of healthcare it related fields. The himss foundation annually awards scholarships to students who have achieved academic excellence and have the potential to be future leaders in the healthcare information and management systems industry. Since the early 1990s, more than $350,000 in scholarships have been awarded to those students exemplifying the mission of providing global leadership for the optimal use of information (it) and management systems for the betterment of healthcare. These scholarships are awarded according to merit, financial need, and other factors and are awarded to students who meet the criteria which include: leadership, demonstrated academic excellence, and himss participation.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 63% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of total spending goes to programs and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 59
  • Transparency & Controls: 68
  • Accountability: 91
  • Sustainability: 10
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 98.8%; rating input score 99
  • Program expense ratio: 8.6%; rating input score 9
  • Fundraising efficiency: $0.07 raised per $1 spent on fundraising; rating input score 8; 8th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 25th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -1,647.2%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 1.06; rating input score 22; 22nd percentile among comparable filings
  • Liabilities to assets ratio: 1.43; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 47.4%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: -25% per year; rating input score 0; 15th percentile among comparable filings
  • Revenue growth: -18.1% per year; rating input score 0; 23rd percentile among comparable filings
  • Asset growth: 1.1% per year; rating input score 100; 48th percentile among comparable filings

Details

  • Where the money goes: 98.8% of revenue deployed · 8.6% of spending went to programs
  • Governance: 10 of 10 board members independent · 7 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $49K in reported program spending
  • Leadership: top reported pay $1.3M · 15 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 29 of 29 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 12 filing years from 2011 to 2022
  • Contacts: How to reach this organization
  • Related organizations: 4 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.

Key Signals

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

  • High — Financial Efficiency: Program expense ratio scored 9/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Financial Efficiency: Fundraising efficiency scored 8/100.
  • High — Sustainability: Operating margin scored 5/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 22/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.
  • High — Sustainability: Officer compensation ratio scored 7/100.