Civic Intelligence

Healthcare Financial Management

EIN 36-3920055 • 501(c)3 • Downers Grove, IL

Profile

HFMA's primary purpose is to: 1.) foster and increase knowledge of and proficiency in healthcare financial management; 2.) conduct and participate in educational programs and activities concerning healthcare industry financial management; 3.) provide media for the interchange of ideas and dissemination of material relative to healthcare financial management; 4.) strengthen cooperation among individuals of varying disciplines in financial management; 5.) cooperate with healthcare institutions and related healthcare organizations and agencies and other interested groups in matters pertaining to financial management; and 6.) promote and encourage financial management standards of performance for individuals and institutions in various areas of healthcare financial management.

2001 Butterfield Rd 1500Downers Grove, IL 60515

www.hfma.org/chapters/region-2/metropolitan

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

81st percentile

0.14x

Higher debt load relative to assets than 81% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2025

Liabilities / Revenue

75th percentile

0.03x

Higher debt load relative to revenue than 75% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2025

Net Margin

38th percentile

-3.6%

Higher net margin than 38% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2025

Top Officer Pay

81st percentile

$0

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • <$500k nonprofits • Source year 2025

Asset Growth

42nd percentile

-7.7%

Faster asset growth than 42% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2024 to 2025

Revenue Growth

69th percentile

17%

Faster revenue growth than 69% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2024 to 2025

Assets

Down

$66,235

Down $5,549 (-7.7%) from 2024

Liabilities

Up

$9,314

Up $5,934 (+176%) from 2024

Net Assets

Down

$56,921

Down $11,483 (-17%) from 2024

Revenue

Up

$322,389

Up $45,663 (+17%) from 2024

Expenses

Up

$333,872

Up $51,531 (+18%) from 2024

Net Income

Down

-$11,483

Down $5,868 (-105%) from 2024

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$100K$50K$0-$50KAssets 2017: $17,314Liabilities 2017: $23,373Net Assets 2017: -$6,0592017Assets 2018: $59,045Liabilities 2018: $0Net Assets 2018: $59,0452018Assets 2019: $78,910Liabilities 2019: $2,967Net Assets 2019: $75,9432019Assets 2020: $88,581Liabilities 2020: $370Net Assets 2020: $88,2112020Assets 2021: $31,917Liabilities 2021: $570Net Assets 2021: $31,3472021Assets 2022: $36,610Liabilities 2022: $370Net Assets 2022: $36,2402022Assets 2023: $74,689Liabilities 2023: $670Net Assets 2023: $74,0192023Assets 2024: $71,784Liabilities 2024: $3,380Net Assets 2024: $68,4042024Assets 2025: $66,235Liabilities 2025: $9,314Net Assets 2025: $56,9212025

Highlighted filing

2025

Assets$66,235
Liabilities$9,314
Net Assets$56,921

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$400K$200K$0-$200KRevenue 2017: $203,986Expenses 2017: $351,981Net Income 2017: -$147,9952017Revenue 2018: $207,826Expenses 2018: $272,722Net Income 2018: -$64,8962018Revenue 2019: $218,103Expenses 2019: $301,205Net Income 2019: -$83,1022019Revenue 2020: $79,848Expenses 2020: $67,580Net Income 2020: $12,2682020Revenue 2021: $23,799Expenses 2021: $80,663Net Income 2021: -$56,8642021Revenue 2022: $221,386Expenses 2022: $216,493Net Income 2022: $4,8932022Revenue 2023: $303,391Expenses 2023: $265,612Net Income 2023: $37,7792023Revenue 2024: $276,726Expenses 2024: $282,341Net Income 2024: -$5,6152024Revenue 2025: $322,389Expenses 2025: $333,872Net Income 2025: -$11,4832025

Highlighted filing

2025

Revenue$322,389
Expenses$333,872
Net Income-$11,483

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jun 1, 2024 to May 31, 2025
Signed
Mar 25, 2026
Return Version
2024v5.5
Gross Receipts
$322,389
Mission and Program Overview

Mission

HFMA's primary purpose is to: 1.) foster and increase knowledge of and proficiency in healthcare financial management; 2.) conduct and participate in educational programs and activities concerning healthcare industry financial management; 3.) provide media for the interchange of ideas and dissemination of material relative to healthcare financial management; 4.) strengthen cooperation among individuals of varying disciplines in financial management; 5.) cooperate with healthcare institutions and related healthcare organizations and agencies and other interested groups in matters pertaining to financial management; and 6.) promote and encourage financial management standards of performance for individuals and institutions in various areas of healthcare financial management.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$34,520$50,735▲ $16,215
Accounts Receivable$32,464$15,500▼ $16,964
Prepaid Expenses and Deferred Charges$4,800$0▼ $4,800
Total Assets$71,784$66,235▼ $5,549
Liabilities
Accounts Payable and Accrued Expenses$3,380$9,314▲ $5,934
Total Liabilities$3,380$9,314▲ $5,934
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$68,404$56,921▼ $11,483
Total Net Assets Fund Balance$68,404$56,921▼ $11,483
Total Liabilities and Net Assets / Fund Balance$71,784$66,235▼ $5,549
Compensation and Service Providers

Board Members and Trustees

NameTitle
Andrew WeingartnerPast President (Voting)
Shivam SohanPresident
Alyson BelzPresident-Elect
Leah AmanteVice President
Becky GreenfieldDirector (Voting)
Bob Arnold JrDirector (Voting)
Catherine FeeleyDirector (Voting)
Gary FederDirector (Voting)
Jennifer GravesDirector (Voting)
Matthew KamienDirector (Voting)
Nicholas DiBartoloDirector (Voting)
Robin ZieglerDirector (Voting)
Rolando TaboraDirector (Voting)
Samer OweisDirector (Voting)
Stephanie GerezDirector (Voting)
Thaddeus PyfromDirector (Voting)
Robert BraunSecretary
Nicholas RiveraTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Long Island MarriottEvent Venue, Food, Beverage and Hotel101 James Doolittle Blvd, Uniondale, NY 11553$132,845
Revenue and Support

Revenue Composition

Contributions and Grants
$165,000
Program Service Revenue
$157,389
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-11,483
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$333,872
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Conferences and Meetings$315,320--$315,320
Fees for Services Accounting-$6,950-$6,950
Travel$5,484--$5,484
Office Expenses-$4,454-$4,454
Other Expenses$1,664--$1,664
Total Functional Expenses$322,468$11,404$0$333,872
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 6

The sole Corporate Member is HFMA: Metropolitan New York Chapter.

Form 990, Part VI, Section A, line 7A

The Corporate Member annually elects directors of the Foundation.

Form 990, Part VI, Section A, line 7B

The following governance decisions must be reviewed and approved by the Corporate Member: - the amendment or restatement of the articles of incorporation of the Foundation or bylaws; - the merger, consolidation, dissolution, or winding up of the Foundation; and - such other matters as may be required by law to be submitted to the Corporate Member, or as to which the Board of Directors of the Foundation determines by resolution that such submission is advisable.

Form 990, Part VI, Section B, line 11B

The Chapter Audit & Finance Committee and/or Chapter Board Members were provided a copy of the Metro NY individual chapter tax information reporting documents prior to the filing of the IRS 990 tax return.

Form 990, Part VI, Section B, line 12C

Each board member is required annually to read and sign the organization's written Conflict of Interest policy and Conflict of Interest affirmation document.

Form 990, Part VI, Section C, line 19

The organization does not make its governing documents, conflict of interest policy, and financial statements available to the public.

Filing and Contact Details

Filer

Filer Name
Healthcare Financial Management
EIN
36-3920055
Phone
7085319600
Address
2001 Butterfield Rd 1500, Downers Grove, IL 60515

Signing Officer

Name
Steve Saldivar
Title
CFO
Phone
7085319600
Signed
2026-03-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Shivam Sohan
Formed
1968
Legal Domicile
Il
Voting Board Members
18
Independent Board Members
18
Employees
0
Volunteers
75

Preparer

Firm
Rsm US Llp
Address
30 South Wacker Dr Suite 3300, Chicago, IL 60606-3392
Preparer
Rebekuh Eley
Phone
3126343400
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IRS990/OfficeExpensesGrp/TotalAmt04454
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0Bad Debt
IRS990/OtherExpensesGrp/ProgramServicesAmt01664
IRS990/OtherExpensesGrp/TotalAmt01664
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliciesReferenceChaptersInd01
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt04800
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0Shivam Sohan
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0541610
IRS990/ProgramServiceRevenueGrp/Desc0Education Programs
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0157389
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0157389
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt095000
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt0282341
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0181726
IRS990/PYRevenuesLessExpensesAmt0-5615
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0282341
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0276726
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-11483
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RelatedOrganizationsAmt0165000
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0157389
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0165000
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt095000
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0150000
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0120000
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0530000
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0157389
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0181726
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0153391
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0101386
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt023799
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0617691
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct01.00000
IRS990ScheduleA/PublicSupportPY509Pct01.00000
IRS990ScheduleA/PublicSupportTotal509Amt01147691
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0322389
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0276726
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0303391
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0221386
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt023799
IRS990ScheduleA/Total509Grp/TotalAmt01147691
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0322389
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0276726
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0303391
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0221386
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt023799
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01147691
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The sole Corporate Member is HFMA: Metropolitan New York Chapter.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Corporate Member annually elects directors of the Foundation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The following governance decisions must be reviewed and approved by the Corporate Member: - the amendment or restatement of the articles of incorporation of the Foundation or bylaws; - the merger, consolidation, dissolution, or winding up of the Foundation; and - such other matters as may be required by law to be submitted to the Corporate Member, or as to which the Board of Directors of the Foundation determines by resolution that such submission is advisable.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Chapter Audit & Finance Committee and/or Chapter Board Members were provided a copy of the Metro NY individual chapter tax information reporting documents prior to the filing of the IRS 990 tax return.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Each board member is required annually to read and sign the organization's written Conflict of Interest policy and Conflict of Interest affirmation document.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The organization does not make its governing documents, conflict of interest policy, and financial statements available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section A, line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section C, line 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt071784
IRS990/TotalAssetsEOYAmt066235
IRS990/TotalAssetsGrp/BOYAmt071784
IRS990/TotalAssetsGrp/EOYAmt066235
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0165000
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt011404
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0322468
IRS990/TotalFunctionalExpensesGrp/TotalAmt0333872
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03380
IRS990/TotalLiabilitiesEOYAmt09314
IRS990/TotalLiabilitiesGrp/BOYAmt03380
IRS990/TotalLiabilitiesGrp/EOYAmt09314
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt068404
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt056921
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0322468
IRS990/TotalProgramServiceRevenueAmt0157389
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0157389
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0322389
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt075
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt071784
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt066235
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt05484
IRS990/TravelGrp/TotalAmt05484
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02001 Butterfield Rd 1500
IRS990/USAddress/CityNm0Downers Grove

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