Overview
What is Healthcare Financial Management Association Educational Foundation?
The Healthcare Financial Management Association Educational Foundation, based in Downers Grove, Illinois, is a nonprofit organization dedicated to improving the financial management skills within the healthcare sector. Their primary objective is to provide educational resources and opportunities, such as workshops, forums, and lectures, with the aim of fostering growth and development in this field. The foundation's main source of income comes from their annual conference, which offers members a chance to engage in face-to-face education, share best practices, and network. Despite the conference being held as a hybrid event, the foundation remains committed to its mission of enhancing the financial management capabilities of healthcare organizations.
What are the reviews and ratings of this charity?
Charity Navigator Rating 94% - Four-Star out of Four Star Rating
The Healthcare Financial Management Association Educational Foundation has achieved a Four-Star rating from Charity Navigator, reflecting its high standards in accountability and finance. The organization shows strong governance, with 92% of its board members being independent, a complete score for its audit and oversight committee, and thorough policies in place to handle conflicts of interest and whistleblower protections.
Financially, the foundation has demonstrated prudent management practices, evidenced by a low liabilities to assets ratio of 27.76% and an impressive program expense ratio of 92.69%. This indicates that the majority of funds are directed towards its programs rather than administrative costs, which is a positive reflection of its operational efficiency.
Overall, the foundation's robust policies and strong financial health suggest effective stewardship of donor contributions. However, specific feedback from users regarding program impact or community engagement is not detailed, so potential supporters may seek further information on its outreach and effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Healthcare Financial Management Association Educational Foundation legitimate?
Healthcare Financial Management Association Educational Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Healthcare Financial Management Association Educational Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Healthcare Financial Management Association Educational Foundation?
The Healthcare Financial Management Association Educational Foundation's mission is to promote and enhance the financial management of the healthcare sector. They achieve this by providing educational resources and opportunities to its members and other professionals in the field. The foundation aims to improve the business performance of organizations operating within or serving the healthcare industry. They accomplish this through various educational programs, such as discussion groups, forums, panels, lectures, and courses. The Annual Conference, their largest revenue-generating event, offers members a chance for face-to-face education, networking, and the sharing of best practices.
Who is the CEO of Healthcare Financial Management Association Educational Foundation?
Joseph Fifer is the President & Ceo of Healthcare Financial Management Association Educational Foundation. The CEO's salary of Healthcare Financial Management Association Educational Foundation is $275,953 and their total compensation is $1,022,411.
What is the revenue of Healthcare Financial Management Association Educational Foundation?
Healthcare Financial Management Association Educational Foundation's revenue in 2022 was $6,148,217.
Who are the executives of Healthcare Financial Management Association Educational Foundation and what are their salaries?
There 13 volunteers at Healthcare Financial Management Association Educational Foundation.
Here are 23 key members and their salaries (Healthcare Financial Management Association Educational Foundation's CEO's salary is $275,953 and their total compensation is $1,022,411):
- Compensation: $275,953
- Related: $643,891
- Other: $102,567
- Compensation: $0
- Related: $0
- Other: $0
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- Other: $0
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- Compensation: $105,504
- Related: $246,178
- Other: $30,479
- Compensation: $118,824
- Related: $277,257
- Other: $77,375
- Compensation: $95,516
- Related: $222,868
- Other: $70,499
- Compensation: $92,494
- Related: $215,819
- Other: $41,615
- Compensation: $67,174
- Related: $156,739
- Other: $54,797
- Compensation: $70,389
- Related: $164,241
- Other: $36,300
- Compensation: $104,815
- Related: $244,570
- Other: $31,382
- Compensation: $65,682
- Related: $153,257
- Other: $34,105
- Compensation: $116,001
- Related: $270,669
- Other: $21,040
- Compensation: $65,298
- Related: $152,362
- Other: $38,944
Where can I find the form 990 for Healthcare Financial Management Association Educational Foundation?
Healthcare Financial Management Association Educational Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Healthcare Financial Management Association Educational Foundation
The Healthcare Financial Management Association Educational Foundation's mission is centered around enhancing and advancing the financial management within the healthcare sector. This nonprofit organization aims to accomplish this by offering support and resources to its members and other entities operating in or serving this field. The ultimate goal is to improve the business performance of these organizations, ensuring they operate efficiently and effectively.
To achieve this mission, the Healthcare Financial Management Association Educational Foundation undertakes various activities. One of their primary initiatives is organizing educational events, such as discussion groups, forums, panels, lectures, and courses. These programs are designed to improve or develop capabilities in healthcare financial management. The foundation's largest revenue-generating event is its Annual Conference, which provides an excellent platform for members to engage in face-to-face education, share best practices, and network. This event was held as a hybrid event, catering to both live and virtual participants.
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Impact
October, 2024
Healthcare Financial Management Association Educational Foundation significantly enhances the financial management landscape of the healthcare sector. By providing education and training through a variety of formats, including discussion groups, forums, and lectures, it equips individuals and organizations with the necessary skills to improve their business performance in healthcare.
The foundation's flagship event, the Annual Conference, plays a pivotal role in this mission, offering members invaluable opportunities for face-to-face education, networking, and sharing of best practices. This hybrid event format allows for broader participation, fostering connections among professionals that are essential for collaboration and knowledge sharing.
Through these initiatives, the foundation not only advances the expertise of its members but also elevates the overall financial management capabilities across healthcare organizations, leading to improved operational efficiency and effectiveness in service delivery. Its impact resonates throughout the industry, ultimately contributing to better financial outcomes for healthcare providers and enhancing the quality of care for patients.
This information is meant to be a general summary of Healthcare Financial Management Association Educational Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $597,548
- Program Service Revenue: $5,532,344
- Gross Receipts: $6,148,217
Assets and Liabilities:
- Total Assets: $29,555,753
- Total Liabilities: $6,824,277
- Net Assets: $22,731,476
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Sponsorships
Revenue
$3,191,100
ANI Exhibits & Fees
Revenue
$1,914,069
Training
Revenue
$260,725
Education
Revenue
$105,122
Organization Details
Founding Year
1996
Phone
(708) 531-9600Principal Officer
Joseph Fifer
Main Address
2001 Butterfield Rd 1500, Downers Grove, IL, 60515
NTEE Category
Code: E83B - Health
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