HEALTH INFORMATION ALLIANCE INC (EIN 842850813) - Form 990 Financial Analysis & Trantor Score

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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

2019

Legal Domicile

Principal Officer

JENN SEARLS

Phone

8887834410

Tax Period

2023-10-01 to 2024-09-30

HEALTH INFORMATION ALLIANCE INC, founded in 2019, is a community nonprofit that reported $8.5M in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion.

Mission

PROVISION OF HEALTH INFORMATION TECHNOLOGY SERVICES (SEE SCHEDULE O)THE MISSION OF HEALTH INFORMATION ALLIANCE INC. OR HIA IS TO ENHANCE THE HEALTH AND WELL-BEING OF CONNECTICUT RESIDENTS THROUGH THE PROVISION OF HEALTH INFORMATION TECHNOLOGY SERVICES. THESE SERVICES EMPOWER CONSUMERS TO MAKE EFFECTIVE HEALTH CARE DECISIONS AND PROMOTE PATIENT CENTERED CARE. THEY ALSO IMPROVE THE QUALITY, SAFETY, AND VALUE OF HEALTH CARE, WHILE REDUCING THE WASTE AND DUPLICATION OF SERVICES. THIS WILL SUPPORT CLINICAL DECISION-MAKING, KEEP CONFIDENTIAL HEALTH INFORMATION SECURE, AND MAKE PROGRESS TOWARD THE STATES PUBLIC HEALTH GOALS.THE MAJOR PROGRAMS ARE:1. ENHANCING THE PROPRIETARY SOFTWARE TO ALLOW FOR NEW FUNCTIONAL SERVICES SUCH AS IMAGE EXCHANGE AND E-REFERRALS.2. DEVELOPING DATA-SHARING USE CASES TO EXPAND ON HEALTH INFORMATION EXCHANGE OPPORTUNITIES SUCH AS DENTAL HEALTH AND ELECTRONIC CASE REPORTING.

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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 (2023)

Revenue Breakdown

Contributions & Grants $7,326,506

Program Service Revenue $1,157,978

Investment Income $0

Other Revenue $0

TOTAL REVENUE $8,484,484

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,896,096

Fundraising Expenses $0

Program Expenses $7,389,273

Other Expenses $5,493,713

TOTAL EXPENSES $8,389,809

Year-over-Year Comparison

	2023	2022	Change
Revenue	$8,484,484	$7,584,352	+0.1%
Expenses	$8,389,809	$6,814,234	+0.2%
Net Income	$94,675	$770,118	-0.9%

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

$313,075

Total Directors

Key Employees

$339,291

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALLEN DAVIS	BOARD MEMBER	0.75	Director	$0	$0	$0
LISA STUMP	BOARD MEMBER (UNTIL 10/31/2023)	0.75	Director	$0	$0	$0
PATRICK CHARMEL	BOARD MEMBER	0.75	Director	$0	$0	$0
STACIA STROUSS	BOARD MEMBER	0.75	Director	$0	$0	$0
CLAUDIO GUALTIERI	TREASURER	0.75	Officer Director	$0	$0	$0
JOSE CRESPO	BOARD MEMBER (UNTIL 4/2024)	0.75	Director	$0	$0	$0
SUMIT SAJNANI	CHAIR	0.75	Officer Director	$0	$0	$0
ANDREA BARTON REEVES	BOARD MEMBER	0.75	Director	$0	$0	$0
MARK RAYMOND	BOARD MEMBER	0.75	Director	$0	$0	$0
ADAM PRIZIO	BOARD MEMBER (FROM 4/2024)	0.75	Director	$0	$0	$0
JENN SEARLS	EXECUTIVE DIRECTOR	40.00	Officer	$281,875	$31,200	$313,075
MICHELLE PUHLICK	CHIEF OPERATING OFFICER	40.00	Key Emp	$308,091	$31,200	$339,291

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	$8,484,484	$8,389,809	$7,084,623	$94,675
2023	$7,584,352	$6,814,234	$7,327,807	$770,118
2022	$7,572,857	$5,646,489	$5,859,686	$1,926,368
2021	$12,133,598	$8,777,033	$8,276,350	$3,356,565
2020	$367,153	$344,131	$116,497	$23,022

HEALTH INFORMATION ALLIANCE INC