Heart Rhythm Society Inc

Nonprofit profile at a glance

EIN
042694458
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Washington, DC, USA
Phone
2024643400
Rating
79
Verdict
SUPPORTED
Rating confidence
Standard

Official website

Reported finances

Revenue
$23,043,846
Expenses
$22,986,906
Assets
$16,905,416
Liabilities
$5,494,118

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

Leadership & pay

26 people listed

Executive titles in this filing

  • DHANUNJAYA R LAKKIREDDY MBA MD FH (VICE PRESIDENT/ PROGRAM CHAIR)
  • KENNETH A ELLENBOGEN MD FHRS (PAST PRESIDENT)
  • MINA K CHUNG MD FHRS (PRESIDENT)
  • SANA M AL-KHATIB MD MHS FHRS (PRESIDENT - ELECT)
  • PATRICIA A BLAKE (CHIEF EXECUTIVE OFFICER)
  • ANNE MARIE SMITH (SR. VICE PRESIDENT, PRACTICE IMPROVEMENT)

Highest reported compensation

  • PATRICIA A BLAKE (CHIEF EXECUTIVE OFFICER): $1,026,389 total reported compensation
  • TIMOTHY GREGORY (CHIEF GLOBAL & EDUCATION OFFICER): $406,422 total reported compensation
  • KENNETH J DEMITH (CHIEF EXPERIENCE OFFICER): $366,036 total reported compensation

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

Overview

Mission

To improve the care of patients by promoting education, research and optimal health care policies and standards. Vision: to end death and suffering due to heart rhythm disorders.

What it reported doing in 2024

Meetings: hrs2025 is the society's annual meeting, convening the world's most noted experts in cardiac rhythm management. The 3-day educational hybrid event has an attendance of approximately 6,000 from 68 countries and offers over 250 educational sessions covering topics such as pacing, defibrillation, clinical arrhythmia management, ablation, pharmacology, genetics, basic science, and health policy. Participants also benefit from experiences with state-of-the-art technology in an exhibit hall featuring over 100 companies. There was also online participation available, both exclusively or as an augmentation to the in-person experience.hrx is the society's groundbreaking cardiovascular innovation event that draws an international audience of health care professionals focused on cardiovascular health and rhythm management emphasizing innovations in cardiology. This annual event featured industry champions displaying their breakthrough products to our audience of physicians and allied health professionals. The unique all-in-one room layout allowed the attendees and sponsors to interact throughout the 3-day non-ace event.

Operating model

Revenue model
Other-operating. 74% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 95% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 82
  • Accountability: 95
  • Sustainability: 30
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 82.5%; rating input score 83
  • Program expense ratio: 81.8%; rating input score 82
  • Fundraising efficiency: $4.24 raised per $1 spent on fundraising; rating input score 17; 17th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.7%; rating input score 95; 24th percentile among comparable filings
  • Pay-setting controls: 6 of 6 controls in place; rating input score 100
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: 0 of 8 controls in place; rating input score 0
    • Claims monitoring procedures: Fail
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 98.8%; rating input score 99; 31st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: 0.2%; rating input score 34; 34th percentile among comparable filings
  • Total-asset coverage ratio: 0.74; rating input score 26; 26th percentile among comparable filings
  • Liabilities to assets ratio: 0.32; rating input score 44; 44th percentile among comparable filings
  • Officer compensation ratio: 16%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: 7.9% per year; rating input score 100; 61st percentile among comparable filings
  • Revenue growth: 6.2% per year; rating input score 100; 54th percentile among comparable filings
  • Asset growth: -4.7% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 82.5% of revenue deployed · 81.8% of spending went to programs
  • Governance: 16 of 16 board members independent · 8 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $18.8M in reported program spending
  • Leadership: top reported pay $1M · 26 people listed · 6 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $3.3M reported
  • Consistency: 44 of 45 current checks pass · 1 finding to review
  • Schedules: 11 filed schedules · includes major donors, foreign activity, grants, executive pay, and related organizations
  • Filing history: 7 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 22 filed money-flow records
  • Related organizations: 11 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 — Transparency & Controls: Foreign activity oversight: 8 of 8 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 17/100.
  • Moderate — Sustainability: Operating margin scored 34/100.
  • High — Sustainability: Total-asset coverage ratio scored 26/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 7/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 44/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.