Healthcare Financial Management Association

Organization Overview

Healthcare Financial Management Association is located in Downers Grove, IL. The organization was established in 1969. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Healthcare Financial Management Association is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.

For the year ending 05/2022, Healthcare Financial Management Association generated $8.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.6%) each year. All expenses for the organization totaled $8.7m during the year ending 05/2022. As we would expect to see with falling revenues, expenses have declined by (5.4%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

TO FOSTER AND INCREASE KNOWLEDGE OF AND PROFICIENCY IN FINANCIAL MANAGEMENT IN THE HEALTHCARE INDUSTRY; CONDUCT AND PARTICIPATE IN EDUCATION PROGRAMS; PROVIDE MEDIA FOR INTERCHANGE OF IDEAS AND DISSEMINATION OF MATERIALS RELATIVE TO FINANCIAL MANAGEMENT AND STRENGTHEN COOPERATION AMONG INDIVIDUALS OF VARYING DISCIPLINES IN FINANCIAL MANAGEMENT.

Describe the Organization's Program Activity:

Part 3 - Line 4a

EDUCATION - HFMA'S 63 CHAPTERS CONDUCT PERIODIC EDUCATIONAL SESSIONS THAT UTILIZE DISCUSSION GROUPS, FORUMS, PANELS, LECTURES OR SIMILAR PROGRAMS FOR THE PURPOSE OF IMPROVING OR DEVELOPING CAPABILITIES IN THE FIELD OF HEALTHCARE FINANCIAL MANAGEMENT. THESE SESSIONS PROVIDE MEMBERS AN OPPORTUNITY FOR FACE TO FACE EDUCATION, LECTURE, PANEL DISCUSSION, SHARING OF BEST PRACTICE PROCESSES AND NETWORKING.


PUBLICATIONS - NEWSLETTERS & MEMBERSHIP DIRECTORIES - HFMA'S 63 CHAPTERS PRODUCE PERIODIC NEWSLETTERS THAT ARE SHARED NOT ONLY WITH CHAPTER MEMBERS BASE BUT WITH OTHER INDUSTRY PROFESSIONALS. THE NEWSLETTERS CONTAIN ARTICLES AND INFORMATION RELATED TO RECENT GOVERNMENTAL RULE CHANGES, CURRENT EVENTS, JOB OPPORTUNITIES AND HOT TOPICS FACING THE INDUSTRY. EACH CHAPTER PUBLISHES A MEMBERSHIP DIRECTORY ANNUALLY ALLOWING MEMBERS TO NETWORK AND COMMUNICATE AMONGST ONE ANOTHER.


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Board, Officers & Key Employees

Name (title)Compensation
Adam Leonello
President
$0
Amy Blatt
President
$0
Anthony Verdicanno
President
$0
Ashley Brandt-Duda
President
$0
Andres Posada
President
$0
Annamarie Monks
President
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Event Logistics Inc
Meetings And Events Services
$229,050
Paris Las Vegas
Hotel Services
$274,683
The Hotel At Avalon
Spring Institute 2022 (Food And Beverage
$163,086
D Lawrence Planners
Event Planning And Conference Management
$146,342
Kalahari Resorts And Convention Center
Conference Venue
$122,868
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$8,590,143
Investment income $61,669
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$5,166
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $8,658,977

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