Syncronys
- Assets
- $4.1m
- Revenue
- $8.9m
- Investments
- $0.0
- Employees
- 23
- Location
- Albuquerque, NM
- Founding
- 05/1992
- Data as of
- 12/2023
- EIN
- 85-0392796
Organization Overview
Syncronys, operating under the name Lcf Research And Nmhic, is located in Albuquerque, NM. The organization was established in 1992. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. As of 12/2023, Lcf Research And Nmhic employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lcf Research And Nmhic is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Lcf Research And Nmhic generated $8.9m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 18.8% each year . All expenses for the organization totaled $9.8m during the year ending 12/2023. While expenses have increased by 19.4% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
NON-PROFIT ORGANIZATION ESTABLISHED TO IMPROVE QUALITY, CONTROL COSTS, AND EXPAND ACCESS TO HEALTH CARE BY DEVELOPMENT OF THE OPERATION OF THE HEALTH INFORMATION EXCHANGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SYNCRONYS' PRIMARY ACTIVITY IS THE DEVELOPMENT, OPERATION AND MAINTENANCE OF THE STATE OF NEW MEXICO'S DESIGNATED HEALTH INFORMATION EXCHANGE (HIE). SYNCRONYS EXPANDED THE NUMBER OF ORGANIZATIONS SECURELY EXCHANGING DIGITAL MEDICAL RECORDS, DIAGNOSTIC IMAGES AND PROCEDURES WITH THE HIE AND HEALTHCARE ORGANIZATIONS WHO SUBSCRIBE TO THE HIE. MULTIPLE STATE AGENCIES SUBSCRIBE TO THE HIE TO SUPPORT STATE PROGRAMS. SYNCRONYS MAINTAINS INTERFACES FROM 43 HEALTHCARE FACILITIES AND 48 CLINICAL LABORATORIES FOR PUBLIC HEALTH REPORTING OF NOTIFIABLE CONDITIONS. THE DATA IS REPORTED DAILY TO THE NM DEPARTMENT OF HEALTH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Crossey MD PHD Board Chair | OfficerTrustee | 0.5 | $0 |
Jared Udall Audit/finance Committee Chair | OfficerTrustee | 0.5 | $0 |
J Randle Adair DO PHD Past Chair | OfficerTrustee | 0.5 | $0 |
Carol Ash PHD Board Member (thru 5/16/23) | Trustee | 0.5 | $0 |
Eric Jimenez Board Member | Trustee | 0.5 | $0 |
Robert Longstreet Board Member | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Orion Health Inc Software Services | 12/30/23 | $1,992,725 |
Hbi Solution Software Services | 12/30/23 | $654,728 |
Collective Medical Technologies Inc Medical Use Cases | 12/30/23 | $600,000 |
Caraway Solutions Data Consulting Services | 12/30/23 | $591,716 |
Rhodes Group Inc Software Services | 12/30/23 | $2,089,932 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,738,402 |
| 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 | $5,738,402 |
| Total Program Service Revenue | $3,114,328 |
| Investment income | $91 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,852,821 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $553,930 |
| Compensation of current officers, directors, key employees. | $242,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,084,370 |
| Pension plan accruals and contributions | $63,636 |
| Other employee benefits | $364,910 |
| Payroll taxes | $128,235 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $17,228 |
| Fees for services: Accounting | $26,927 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,905,150 |
| Advertising and promotion | $4,736 |
| Office expenses | $30,615 |
| Information technology | $249,053 |
| Royalties | $0 |
| Occupancy | $120,729 |
| Travel | $15,119 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $72,141 |
| Interest | $15,926 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,908 |
| Insurance | $86,445 |
| All other expenses | $0 |
| Total functional expenses | $9,827,210 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $283,902 |
| Savings and temporary cash investments | $1,876,188 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,040,086 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $615,031 |
| Net Land, buildings, and equipment | $70,181 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $257,378 |
| Total assets | $4,142,766 |
| Accounts payable and accrued expenses | $922,040 |
| Grants payable | $0 |
| Deferred revenue | $299,980 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $280,171 |
| Total liabilities | $1,502,191 |
| Net assets without donor restrictions | $2,640,575 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,142,766 |