HEALTHCARE INFORMATION XCHANGE OF … - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1999

Legal Domicile

Principal Officer

MARK MCKINNEY

Phone

5186400021

Tax Period

2024-01-01 to 2024-12-31

HEALTHCARE INFORMATION XCHANGE OF NEW YORK INC, founded in 1999, is a mid-sized nonprofit in the Health Care sector that reported $12.9M in total revenue in fiscal year 2024. Revenue surged 22% from the prior year, signaling strong growth momentum. Expenses of $11.6M left a modest 10% surplus.

Mission

HIXNY WILL ACCELERATE THE ADOPTION OF HEALTH INFORMATION TECHNOLOGY ACROSS HEALTHCARE ORGANIZATIONS, PATIENTS, AND COMMUNITIES AND ENSURE THAT PATIENTS AND CLINICIANS HAVE REAL TIME ACCESS TO PATIENTS' COMPLETE MEDICAL HISTORY. OUR PROGRAMS AND SERVICES ENABLE BETTER DECISION MAKING AT THE POINT OF CARE, DELIVERED IN A WAY THAT FOSTERS CLINICIAN ADOPTION AND PATIENT TRUST.

Program Service Accomplishments

Program 1

Expenses: $9,474,046

THE STATEWIDE HEALTH INFORMATION NETWORK FOR NEW YORK (SHIN-NY) CONNECTS THE STATE'S NONPROFIT REGIONAL HEALTH INFORMATION ORGANIZATIONS TO ENSURE THE SECURE ELECTRONIC FLOW OF HEALTH INFORMATION...

THE STATEWIDE HEALTH INFORMATION NETWORK FOR NEW YORK (SHIN-NY) CONNECTS THE STATE'S NONPROFIT REGIONAL HEALTH INFORMATION ORGANIZATIONS TO ENSURE THE SECURE ELECTRONIC FLOW OF HEALTH INFORMATION THROUGHOUT NEW YORK. AS ONE OF THOSE NONPROFIT H.I.E.S CONNECTED TO THE SHIN-NY, HIXNY MUST MEET OVERSIGHT, ORGANIZATIONAL, SECURITY AND TECHNICAL REQUIREMENTS TO PROVIDE THE MEANS FOR AMBULATORY PROVIDERS, CLINICS, FEDERALLY QUALIFIED HEALTH CENTERS, HOME CARE AGENCIES, HOSPITALS, LABS AND PAYORS (SUCH AS INSURANCE COMPANIES, MEDICAID AND MEDICARE) TO SHARE PATIENTS' HEALTH DATA ELECTRONICALLY.

Program 2

Expenses: $1,819,741 Revenue: $6,212,135

HIXNY PARTICIPATES IN SEVERAL PROJECTS THAT ENHANCE THE REPORTING OF HEALTH INFORMATION FOR IMPROVED CARE, ARE INNOVATING HOW THE INFORMATION IS ACCESSED, OR IMPROVE THE QUALITY OF THE INFORMATION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $6,426,863

Program Service Revenue $6,212,135

Investment Income $268,622

Other Revenue $0

TOTAL REVENUE $12,907,620

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,094,262

Fundraising Expenses $0

Program Expenses $11,293,787

Other Expenses $7,531,649

TOTAL EXPENSES $11,625,911

Year-over-Year Comparison

	2024	2023	Change
Revenue	$12,907,620	$10,594,861	+0.2%
Expenses	$11,625,911	$10,683,255	+0.1%
Net Income	$1,281,709	$-88,394	-15.5%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$701,183

Total Directors

Key Employees

$449,196

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRIAN O'GRADY	VICE CHAIR	7.50	Officer Director	$0	$0	$0
DAVID SHIPPEE	CHAIR	7.50	Officer Director	$0	$0	$0
WILIAM DUAX	SECRETARY	7.50	Officer Director	$0	$0	$0
JOAN HAYNER	TREASURER	7.50	Officer Director	$0	$0	$0
JULIE BAZZELL	DIRECTOR	5.00	Director	$0	$0	$0
JEREMIAH BENOIT MD	DIRECTOR	5.00	Director	$0	$0	$0
SCOTT COHEN MD MBA	DIRECTOR	5.00	Director	$0	$0	$0
AHIMA BUTLER	DIRECTOR	5.00	Director	$0	$0	$0
JULIE DEMAREE	DIRECTOR	5.00	Director	$0	$0	$0
KEVIN GALLAGHER MD	DIRECTOR	5.00	Director	$0	$0	$0
ERIC LINZER	DIRECTOR	5.00	Director	$0	$0	$0
CRAIG DREHER	DIRECTOR	5.00	Director	$0	$0	$0
CHARLES WELGE	DIRECTOR	5.00	Director	$0	$0	$0
PATRICIA FUSCO	DIRECTOR	5.00	Director	$0	$0	$0
SCOTT MOMROW	DIRECTOR	5.00	Director	$0	$0	$0
BRIAN MURRAY MD	DIRECTOR	5.00	Director	$0	$0	$0
MARK MCKINNEY	CHIEF EXECUTIVE OFFICER	50.00	Officer	$444,877	$21,446	$466,323
TAIYMOOR NAQI	CHIEF COMPLIANCE OFFICER & VICE PRESIDENT, PR	50.00	Officer	$227,295	$7,565	$234,860
BRIAN CUDMORE	VICE PRESIDENT-ACCOUNT MANAGEMENT	50.00	Key Emp	$233,149	$16,725	$249,874
DEBRA HAMWAY	VICE PRESIDENT - FINANCE	45.00	Key Emp	$184,166	$15,156	$199,322
JOHN BUNNELL	DIRECTOR OF ACCOUNT OPERATIONS	50.00	Highest	$160,447	$14,492	$174,939
SHANNON VIGARS	MANAGER OF DATA INTEGRITY	45.00	Highest	$128,286	$17,059	$145,345
PATRICK LOUNSBURY	INFORMATION SECURITY OFFICER	45.00	Highest	$119,238	$13,217	$132,455
KATHERINE SEE	DIRECTOR OF MARCOM	45.00	Highest	$125,895	$17,363	$143,258
JULIA PRUSIK	DIRECTOR OF PRODUCT DEVELOPMENT	45.00	Highest	$128,500	$13,502	$142,002

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$12,907,620	$11,625,911	$14,839,875	$1,281,709
2023	$10,594,861	$10,683,255	$12,874,152	$-88,394
2022	$10,229,473	$10,370,613	$11,997,018	$-141,140
2021	$9,602,104	$10,136,246	$11,686,996	$-534,142
2020	$10,446,795	$10,164,101	$11,997,620	$282,694
2019	$9,618,712	$9,784,363	$10,742,980	$-165,651
2018	$8,592,033	$8,692,840	$10,042,127	$-100,807

HEALTHCARE INFORMATION XCHANGE OF NEW YORK INC