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HIMSS Financial Highlights

August 23, 2021 News 3 Comments

This information is from the 2019 Form 990 of HIMSS, which covers the tax year ending June 30, 2020, as compared to last year’s filing for 2018. HIMSS has changed its fiscal year-end to December 31, effective 12/31/20. My analysis of the 2018 form is here.

Income and Expense

Total revenue: $28.7 million (down 74%)
Total expenses: $82.6 million (down 9%)
Revenue less expenses: –$53.9 million (versus a $21.2 million surplus)
Net assets: -$24.4 million (versus $33.3 million)


Program Service Revenue

Conferences: $1.9 million (down 96%)
Corporate sponsorships: $1.6 million (down 88%)
Membership: $12.1 million (down 6%)
Advertising and media: $10.4 million (up 4%)
Analytics and maturity models: $1.9 million (down 37%)


Revenue from Related Organizations

HIMSS Media: $10.9 million
HIMSS Analytics: $1.9 million
Personal Connected Health Alliance: $1.2 million
HIMSS Europe: $1.3 million

HIMSS also reported taxable partnerships through its Healthbox consulting firm. 


Major Expenses

Conferences: $11.9 million
IT: $7.5 million
Occupancy: $2.4 million
Travel: $3.0 million


Highest Compensated Employees

Harold Wolf, III, President and CEO: $1,381,794
Carla Smith, EVP: $671,788 (through February 2019): $1,295,912
Bruce Steinberg, managing director, international: $667,400
Stephen Wretling, chief technology and innovation officer: $662,149
Mitch Icenhower, chief relationship officer: $542,307
Blain Newton, EVP, HIMSS Analytics (through October 2019): $503,663
Ilene Moore, SVP, general counsel, and government relations: $497,851
John Whelan, EVP, HIMSS Media (through October 2019): $453,275

Total salaries and wages: $35.7 million for 225 employees, plus $5.2 million in pension plans and other employee benefits. HIMSS had 133 employees who received more than $100,000 of reportable compensation.



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Currently there are "3 comments" on this Article:

  1. OK this looks weird. I couldn’t find the 2019-2020 990 in any of the usual places (could Mr H share a link?) but are they doing an 18 month period? Otherwise those salaries look way higher than in previous years

    Then that conference number clearly isn’t correct. They must have moved all the 2019 revenue into 2020 (presumably by giving attendees and exhibitors credits to attend 2020). We know they had collected the vast majority of the 2019 conference money in advance (as they only cancelled 3 days before it started) and they didn’t give that money back to exhibitors or attendees (other than the class action lawsuit which was only a couple of million) so they must have moved that money to 2020 for accounting purposes.

    I do know that there were no layoffs. But for sure you can see how damaging losing the global conference is to the organization

    BTW the 2018 number is a little skewed as almost all that profit was from the sale of most of HIMSS analytics to Definitive HC for $20m in Jan 2019

    • Salaries are for the fiscal year. A couple of them jumped pretty hugely, but Hal’s was up single-digit percentage, for example. Deferred revenue increased from $20 million to $55 million over the year, which I assume was HIMSS20 credits.

      I’m not sure how they will file addendum 990s with the change in fiscal years, probably a six-month interim with the full year, but the effect may be that we won’t see anything until late 2022 and it won’t be apples to apples. That might hide some of the damage.







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